Jun 22, 2011

Daily Headlines: Wednesday, June 22, 2011

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Insurance Journal Daily Headlines
June 22, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Insurers' Profits Fell in Q1 as Underwriting Losses Grew

Private U.S. property/casualty insurers' net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in ...

Aon: U.S. Insured Weather Losses Top $15.5 Billion This Year

Insured severe weather losses have already topped $15.5 billion in the United States this year, three times the full-year average of the ...

Firms Shift Cybersecurity Responsibility to Frontline Employees

If your company gets hacked, it may very well be your fault, and if your bank account gets broken into by digital thieves, you might be to ...

Law Firm Spent $7 Million to Sue Wal-Mart

Joseph Sellers is in the hole by about $7 million and does not expect to dig his way out any time soon. As lead counsel to the plaintiffs ...

Federal Healthcare Law Seen Aiding Small Employers: Study

Fewer Americans are getting medical coverage through their jobs than a decade ago but the 2010 U.S. healthcare law should help stabilize ...

President Bush to Address Insurance Program Administrators’ Meeting

Former President George W. Bush will address the Target Markets Program Administrators Association (TMPAA) at its annual summit this ...

Transocean Report Pins Gulf Oil Spill Blame on BP

Transocean Ltd , the owner of the oil drilling rig that exploded and sank in the Gulf of Mexico last year, blamed BP Plcin a report ...

From MyNewMarkets.com As More Workers Go Mobile, Workers' Compensation Exposure Grows

Employers who supply their employees with company cell phones, laptops, BlackBerries, iPads and other portable devices could be in for a...
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East

Virginia County to Charge for Ambulance Trips

Virginia's Prince William County plans to begin charging health insurance companies for ambulance trips. On July 1, the county will start ...

Court Says Suit Can Proceed over WTC Tower Collapse

The Port Authority of New York and New Jersey can be sued for negligence over the collapse of a World Trade Center building in the Sept. 11 ...

Grise Joins The Keating Group

Massachusetts-based broker The Keating Group (tKg) has appointed John M. Grise vice president of professional liability. Grise, based in ...
Workers Comp Training Pack from Academy of Insurance
Midwest

Crews in Flint Battled 11 Fires at Vacant Homes

Three firefighters suffered heat exhaustion while battling a string of 11 fires at vacant homes on Flint's east side on Tuesday that may ...

Erger and Miller Join Lockton in Kansas City

Kansas City, Mo.-based independent insurance broker Lockton Companies LLC has expanded its construction and design team with the addition ...
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Southeast

Mississippi County Covered for Misused Funds

The bonding company for Alcorn County supervisors is repaying the county more than $95,000 to repay funds the state auditor said were ...

Mining Rule on Coal Dust Becomes Permanent

Federal regulators are making permanent an emergency rule implemented last year requiring underground mines to do more to control explosive ...

Tennessee Officials Worried Over Increasing Number of Abandoned Homes

Officials in Washington County, Tennessee are trying to decide the best way to deal with the growing number of abandoned homes. Of ...

3 Men Rescued from Collapsed Kentucky Mine

Three men who spent more than half a day trapped underground in a flooded southeastern Kentucky coal mine waded out and were on their way ...

Riley Named West Virginia Acting Insurance Commissioner

West Virginia Gov. Earl Ray Tomblin announced that Michael D. Riley will serve as acting state insurance commissioner effective July 1. ...
South Central

Louisiana’s Stonetrust Adds Dileo, Bowen to Management Team

Stonetrust Commercial Insurance Co., a Louisiana-based workers' compensation insurer, has added Michael G. Dileo and Ron Bowen to its ...

Oklahoma City Homeowners Blame City for Flood Damage

Homeowners in a northwest Oklahoma City neighborhood that had severe flooding in June 2010 say the city is to blame for the flooding. The ...
West

Wildfires Continue to Plague Arizona, New Mexico

Fourteen homes have been destroyed in Arizona yesterday, after the Monument Fire burning near Sierra Vista went south into neighborhoods. ...

PG&E to Pay $26M Fine for Sacramento-Area Blast

Pacific Gas & Electric Co. has agreed to pay $26 million in penalties after acknowledging safety violations in a fatal natural gas ...

Wash. Regulator Fines Insurers, Agents $750,000

Washington Insurance Commissioner Mike Kreidler has fined insurance companies, agents and brokers more than $750,000 in 2011. Violations ...

North San Diego County Insurance Association Names Officers

The Insurance Women of North San Diego County, an affiliate of the International Association of Insurance Professionals, has installed new ...

Former Association of California Insurance Companies President Joins Barger & Wolen

Samuel Sorich, the former president of the Association of California Insurance Companies (ACIC), a California property/casualty insurance ...

Heffernan Insurance Names Hone Assistant VP

Heffernan Insurance Brokers, an independent insurance brokerage, has hired Ryan Hone as assistant vice president. He will work out of the ...
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International

Europe Seeks to Get Insurers, Banks on Board Greek Bailout

European governments are trying to persuade banks and insurers to share the pain of a second Greek bailout package, in an attempt to avoid ...

Tokyo Electric Power Facing $1.1 Billion in Mental Distress Claims

Tokyo Electric Power estimates it will have to pay 88 billion yen ($1.1 billion) in compensation for mental distress caused to people who ...

Amy Winehouse’s European Tour in Doubt; Insurance Coverage Too

The video is painful to watch, an artistic train wreck for all to see. The question is what Amy Winehouse is going to do next. The ...

EU Urges Tariff Standstill as Doha Round Down Payment

World Trade Organization members should agree to a standstill on tariffs in December as a down payment toward a larger deal in long-running ...

Travelers Acquires Interest in Brazilian Surety Insurer JMalucelli

The Travelers Companies announced that the company has completed its acquisition of a 43 percent interest in JMalucelli Participações em ...

ACE Acquires All Shares of ACE Synergy Insurance Berhad in Malaysia

The ACE Group announced today that its ACE INA International Holdings, Ltd. subsidiary has acquired all of the outstanding shares it does ...

DUAL Corporate Risks Appoints Blake Prof. Indemnity Underwriter

UK-based specialist underwriting agency DUAL Corporate Risks has appointed Christopher Blake as a Professional Indemnity Underwriter in the ...

Best Upgrades Issuer Credit Rating of ACE European Group; Affirms FSR

A.M. Best Europe – Rating Services Limited has upgraded the issuer credit rating (ICR) to "aa" from "aa-" and affirmed the ...

Best Affirms Argo Group International 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 ...

Best Affirms International General’s Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A-' (Excellent) and the issuer credit rating of ...
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New Discussions in the Forums

Hi Exmod contractor in CA
Posted: Wed Jun 22 -- As a former w/c unmderwriter, my first question would be "what is this contractor doing to address their loss problem?" ... Big Dog
Astonish Results or Squid
Posted: Tue Jun 21 -- I easily concede the point that much of the personal lines shopping has gravitated to the web and the majority of those web quotes involve... d's insurance store
I'm Considering Opening an Independent Insurance Agency
Posted: Tue Jun 21 -- Regarding 'sweetie1859"s posting. SIAA certainly is one of the larger "cluster". The reason I did not join them is the charges they will hit... mygolden
Non Compete Insurance?
Posted: Tue Jun 21 -- Not sure exactly what your question is... "told by their lawyer that they should get a insurance policy in case his current... NYagent301
Should I accept Allied Appointment?
Posted: Tue Jun 21 -- My recommendation is do not walk but RUN to the nearest exit. check out the other discussions in this forum on Allied. One is... gregcw
National Agents Alliance? Legit or Keep Away?
Posted: Tue Jun 21 -- You work for a fortune 500 company and you are making money? Why go to NAA when it is a bit questionable based on comments from various... slushpuppyking
How should I compensate my producers?
Posted: Mon Jun 20 -- Sounds like the replies to your question didn't come from agency owners. If you pay a salary, (I call that a... RKunz2

Reader Comments

How Much Is a Dad Worth?
Posted: Fri Jun 17 -- There is no such thing as a real man who is a stay at home Dad. They are either working or not. There is a real world and the world in which... Jim
Even Low Blood Alcohol Level 'Buzz' Unsafe for Driving: Study
Posted: Tue Jun 21 -- I'm sure the millions and millions of people on powerful pain, anti-anxiety and anti-depressant meds are great drivers that always make... matt
Houston Jury Finds for Insurer in $22M Hail Damage Lawsuit
Posted: Wed Jun 15 -- I'm pleased to see that the plaintiff's had to pay the insurance company's legal bill. This could stop a lot of litigation. Dale DeShazo
Wave of Lawsuits Hits Calif. Retail Stores
Posted: Mon Jun 20 -- The next time somebody tells lawyers are an important part of our commercial fabric, you can show them this. Nobody benifits from... Charlie

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