Jun 1, 2011

Daily Headlines: Wednesday, June 1, 2011

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Insurance Journal Daily Headlines
June 1, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Feds Propose Privacy Rule on Medical Records

Patients could obtain a list of everyone who has accessed their electronic medical record under a rule proposed on Tuesday by the U.S. ...

U.S. Cuts Premiums for High Risk Plans, Begins Paying Brokers

Premiums for new federal health insurance plans that cover high-risk people with pre-existing conditions will drop by as much as 40 ...

Best Affirms Selective Group’s ‘A+’ Ratings; Maintains Negative Outlook

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of Selective ...

IPFS Corp. Combines Companies to Launch New Premium Financing Brand

IPFS Corporation has launched Imperial PFS, a new brand that combines Premium Financing Specialists (PFS) and Imperial Credit Corporation ...

AmWINS Group Benefits Enhances International Travel Insurance

AmWINS Group Benefits has launched a newly enhanced No Borders, a suite of international benefit products providing coverage for ...

ISO Adds General Liability Classifications for Alternative Energy, Nanotechnology

ISO has announced new general liability classifications for alternative energy sources and nanotechnology. ISO is introducing most of the ...

From MyNewMarkets.com Group Study: Largest Hedge Funds Buy More, Pay Less for Lawsuit Protection

Large hedge funds with over $10 billion in assets under management (AUM) typically purchase $40 million or more in professional liability...
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East

Rhode Island Radio Host, Ex-Politician to Admit to Fraud

A Rhode Island radio personality and a former North Providence town council president are set to admit to taking part in an insurance fraud ...

Two Diamond Dealers Get Prison in Fake NYC Heist

Two diamond dealers will spend more than a year in prison after being convicted of staging a heist in hopes of snaring insurance money to ...

License Plates Proposed for NYC Bike Messengers

A New York City councilman is introducing legislation that would require bike license plates for messengers and food delivery people. The ...

Massachusetts Jury Rejects Claim Against Cigarette-Maker

A Massachusetts jury has found that Phillip Morris Inc. was not responsible for the death of a longtime smoker whose family claimed the ...
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Midwest

Reversing Itself, Illinois House Passes Workers' Comp Legislation

In a reversal, the Illinois House of Representatives has passed a measure that aims to reform the state's workers' compensation system ...

United Fire Anticipates Up to $35M in Q2 Losses from Spring Storms

Cedar Rapids, Iowa-based United Fire & Casualty Co. announced that it expects its second quarter results through May to include pre-tax ...

Morante Named to Senior Post at Michigan Insurance Office

Teri Morante has been named senior deputy commissioner in the Michigan Office of Financial and Insurance Regulation (OFIR) by Commissioner ...
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Southeast

Florida Gov. Scott Signs Surplus Lines Bill

Florida is prepared to join other states around the country in bring its surplus lines business in line with the federal Nonadmitted and ...

North Carolina House Passes Workers’ Compensation Changes

The North Carolina House of Representatives has approved changes to rules governing workers' compensation claims. The House chamber voted ...
South Central

Use of Credit-based Insurance Scores Upheld in Texas

Texas law permits an insurer to use race-neutral factors in credit scoring to price personal lines of insurance. That's the conclusion ...

Texas Insurance Executive Named President of Surety Bond Producers Association

John M. Rindt, executive vice president of the Surety Division of JDW Insurance, an El Paso, Texas-based insurance agency, has been ...

The Gibraltar Group Launches New Programming for Investment Groups

The Gibraltar Group, a full-service risk management and commercial insurance firm based in Lubbock, Texas, is now providing specialized ...
West

CAMICO Reports 9% Growth in Policyholder Surplus

CAMICO, the nation's largest CPA-focused program of professional and employment practices liability insurance for the accounting ...

Southern Calif. Insurance Women Association Elects Officers

The South Bay(California) Chapter of the National Association of Insurance Women (International) elected its officers for the 2011-2012 ...

Ariz. Insurance Premiums Written Decline

Property/casualty insurance premiums written in Arizona have declined in 2009 to $7.6 billion, down from $8.1 billion in 2008, according to ...

Phoenix School Pays $41,000 to Settle EEOC Claim

A Phoenix, Ariz. charter school will pay $41,125 and furnish other relief to settle a sexual harassment lawsuit filed by the U.S. Equal ...
International

Intact Financial to Acquire AXA’s Canada Operations for $2.684 Billion

Intact Financial Corp has agreed to buy the Canadian arm of AXA Group for C$2.6 billion ($2.684 billion) in cash in a move that will boost ...

Aon Benfield Publishes Report on Lloyd’s

Aon Benfield's Analytics' Market Analysis team has launched its latest Lloyd's Update report, covering the market's financial ...

Swiss Re to Acquire $2.62 Billion in Assets from American Life

Swiss Re announced that it will acquire approximately 300,000 policies and £1.6 billion [$2.62 billon] in assets from American Life ...

Brit Opens Lloyd's Service Company in Australia

Brit Insurance, which is domiciled in the Netherlands and headquartered in London, announced the opening of a new Lloyd's service company ...

ACE Elects Two New Directors to Board

ACE Limited announced from its Zurich headquarters that Eugene B. Shanks, Jr. and Michael P. Connors have been elected to its Board of ...

Best Affirms Platinum Underwriters and Subs Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Platinum ...

Ironshore Europe Expands, Opens Office in London

Ironshore Europe Limited, domiciled in Dubin, Ireland, has received approval from the Central Bank of Ireland, to open a branch office in ...

Coachman Insurance Co. Names Breckles New COO

Coachman Insurance Co. based in Toronto, Ontario, Canada, has named Bill Breckles its new chief operating officer. Breckles has more than ...
Business Income Insurance Training Series: 5-Part training series from Academy of Insurance starts next week - Learn more and register today
Insurance Journal Blogs

Best Practices Quality Management – Part I

I have spent several months discussing how to define, train and implement, standards, procedures and workflows. Early in this series of ...

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Interstate Compacts? Forget About Them

In preparation for new surplus lines regulations, states are considering whether to join a...
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Producer Compensation: The Good and the Great

Creating a compensation plan that is both fair to producers and the agency is critical in...

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New Discussions in the Forums

National Agents Alliance? Legit or Keep Away?
Posted: Wed Jun 1 -- Slushpuppyking - "I could be way off because I've never worked in the industry..." I would have to agree. (no offense) The industry provides... pontiac
Warehouse Legal Liability for CA Moving and Storage Company
Posted: Tue May 31 -- Looking for a warehouse legal liability quote for a 3 month old start up moving company that is getting into the storage end of the... Santa Rosa Ins Broker
Ethical Problem - Please help!
Posted: Tue May 31 -- I would consult an employment lawyer as it looks like you won't be working there long. I wouldn't just up and quit unless a lawyer told me... KPIA
..a complicate package prospect question!..
Posted: Tue May 31 -- You sound like you're new to the business. When you're in the early stages of your career selling insurance, everyone looks like a prospect,... d's insurance store
Healthcare Reform
Posted: Sat May 28 -- There's always a buzz on Health care reform. Recently, Obama made changes on Medicare and then signed the CLASS Act to lessen the dependence... carefree
Policies written through E&S markets--Florida
Posted: Sat May 28 -- I am curious to find out if there is a specific rule against putting my agency's information over that of the E&S broker that the policy is... saabins

Reader Comments

German Insurer Organized Orgy for Best Salesmen
Posted: Wed May 25 -- Cheri, How compassionate is it for him to mandate that all people have to buy Health Insurance or face a fine or more taxes? How about him... Amazed
Drunk, Joyriding Husband Covered by Insurance in Michigan for Crash
Posted: Sun May 29 -- No, an adult should be responsible for their own actions. The policy clearly states he is an excluded driver. If he gets drunk, then takes... Former Status Quo

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