Jun 29, 2011

Daily Headlines: Wednesday, June 29, 2011

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Insurance Journal Daily Headlines
June 29, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insurers Seek Investment Alternatives as Interest Rates, Pricing Lag

Insurers do not expect interest rates to rise materially in the next year or so, leading them to look for alternatives to improve returns ...

Most Commercial Insurance Buyers Expect Flat Rates: Barclays

Commercial property/casualty insurance prices are stabilizing, with 70 percent of buyers expecting at least flat rates after years of ...

Big Business Wins Key Cases in Supreme Court Term

Giant retailer Wal-Mart Inc., telecommunications company AT&T Inc. and coal power companies came out the big winners in the Supreme ...

Top Buyers Remain Interested in Acquiring Agencies: Consultant

There will be a strong ongoing interest in acquisitions of independent agent and brokers through 2012, according to the channel's most ...

Bank of America Near $8.5 Billion Settlement with Mortgage Investors

Bank of America Corp. is close to a deal to pay $8.5 billion to settle claims from a group of powerful investors that lost money on ...

Jury Weighs First U.S. Foreign Bribery Sting Case

Jurors have seen grenade launchers, M4 rifles and secretly recorded videos of military suppliers working on a deal to funnel money to an ...

Mid-Size Firms Expect Higher Profits, More Borrowing: Poll

Nearly two-thirds of mid-size U.S. companies expect higher profits in the next 12 months, and many plan to borrow more and increase hiring ...

Great American Enhances Winery Coverage

Great American Insurance Group has enhanced its coverage for wineries. Winery owners can now purchase one comprehensive insurance policy ...

S&P Downgrades Mariah Re’s Notes to ‘CCC+(sf)’; CreditWatch Developing

Standard & Poor's Ratings Services has lowered its rating on Mariah Re Ltd.'s Series 2010-1 notes to 'CCC+(sf)' from 'B(sf)'. S&P ...

AmWins Launches New Automobile Repossession Program

AmWINS Group, Inc. has developed an exclusive program with an A.M. Best rated A+XV carrier to provide coverage for the auto repossession ...

From MyNewMarkets.com Long Road to Recovery Forecasted for Forestry/Logging Industry

The logging and forestry industry has suffered dramatically since 2006, with the amount of lumber being harvested dropping by half to 5...
Workers Comp Training Pack from Academy of Insurance
East

Maine Police Brutality Case Settled

A Maine man is going to get $725,000 as part of a police brutality settlement that was reached as the case was set to go to trial in ...

Conn. Man Wins Nearly $1M for Botched Eye Surgery

A 60-year-old Army veteran won a $925,000 settlement with the Department of Veterans Affairs after he was blinded in one eye during a ...

New York’s Schirick Brokerage Merges with Bollinger

Schirick & Associates Insurance Brokers Inc. of Monticello, New York, which specializes in insuring camps, sports and recreation ...

3 New Jersey Insurers Switch to Plymouth Rock Brand Name

High Point Auto Insurance, Palisades Insurance and Teachers' Insurance Plan of New Jersey all have a new brand name, Plymouth Rock ...

Pennsylvania Governor Signs ‘Fair Share’ Civil Liability Reform

Pennsylvania Gov. Tom Corbett has signed legislation that is one of his top priorities, a bill that limits the liability for negligence of ...
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Midwest

Nebraska Nuke Utilities Say Safety Prevails Amid Flood

The utilities that run Nebraska's two nuclear power plants want the public to know the facilities are safe, even though floodwaters from ...

Wisconsin Health Insurance Program Participation, Claims on the Rise

A new report shows more people are joining a Wisconsin state program that provides health insurance for the seriously ill. The Legislative ...
Academy of Insurance Webinar: Identifying Professional Liability Exposures
Southeast

Georgia Law Allows Out-of-State Health Insurance Policies July 1

State-licensed insurance companies will soon be able to sell health policies offered in other states that provide less coverage than ...

Mine Owner Massey Kept 2 Sets of Safety Records: NPR

The owners of the West Virginia coal mine where 29 men died in a blast last year kept two sets of safety records, one that it concealed ...

Kentucky Ex-Lawmaker Nunn Pleads Guilty in Insurance Worker Murder

An attorney for Steve Nunn says the former state lawmaker has pleaded guilty to murdering his ex-fiance and has received a sentence of life ...

Florida Supreme Court Upholds $2 Million Malpractice Verdict

The Florida Supreme Court has rejected a public hospital's appeal of a $2 million malpractice verdict in the death of an infant. Justice ...

Florida Agency Employees Charged with Premium Fraud

Three insurance agency employees have been arrested in Florida for allegedly stealing thousands of dollars in auto premiums. Bella Jenkins, ...

Langman Joins Aon’s Construction Group for Southeast

Aon Risk Solutions has added David Langman as a senior vice president in its Construction Services Group in Atlanta. Langman will lead ...
South Central

Texas Windstorm Reform Bill Passes; Sent to Governor

The Texas Legislature finally worked out a compromise bill of reforms to the state's insurance provider of last resort for wind and hail ...

Arkansas Insurance Chief to Try Again on Health Insurance Exchange

Arkansas' top insurance official said he hopes to win legislative approval next year to begin implementing a key part of the federal health ...

Oklahoma Medical CompanyTries Different Approach for Helping the Uninsured

A medical company in northeast Oklahoma is trying a different approach to help uninsured patients and those who have insurance, but want to ...
West

Seeds of Change: Growing Opportunities for Women in Insurance

To a large extent, men still outnumber women in the property/casualty insurance industry. That's a shame, says Barney & Barney ...

Court Grants Approves $10.5 Million Class Action Settlement With Aon Insurance Services

A Los Angeles Superior Court judge has given final approval to a class action settlement involving Aon Insurance Services Inc. (now known ...

Calif. Contractor Sentenced for Insurance Fraud

California Insurance Commissioner Dave Jones announced that Monica Mui Ung, 51, owner and president of NBC General Contractor Corp. (NBC), ...

Swett & Crawford Names McIntosh Workers’ Comp Broker

Tony McIntosh has joined Swett & Crawford as a California senior workers' compensation broker. A seasoned worker's compensation ...
International

Season’s First Atlantic Storm Powers Toward Mexico

Arlene, the first tropical storm of the North Atlantic hurricane season, churned through the southwestern Gulf of Mexico Tuesday but looked ...

Report Says South China Sea Disputes Could Lead to Asian War

Risks are growing that incidents at sea involving China could lead to war in Asia, potentially drawing in the United States and other ...

AXA UK Bans Lawyers’ Referral Fees; Calls for Whiplash Damage Reform

AXA UK has announced that it will no longer accept referral fees from personal injury lawyers and has issued a call for whiplash injury ...

Accounting Issues Could Stall France’s Greek Debt Plan

Accounting issues remain a formidable obstacle facing private sector investors currently considering the French banking sector's plan for ...

S&P Reports European Insurers Still ‘Nervous’ Despite Gains

Standard & Poor's Ratings Services has issued a report which "discusses why it thinks the European insurance industry seems nervous as ...

US, India Pledge Market Access Cooperation; Could Ease Insurance Barriers

Finance chiefs from the United States and India pledged on Tuesday to continue efforts to open up India's financial, retail, manufacturing ...
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New Discussions in the Forums

Agency Management Systems
Posted: Mon Jun 27 -- I've used AgencyPro for several years and love it. I do both direct and agency bill policies and the accounting works just fine for me. It... Marina
Non Compete Insurance?
Posted: Mon Jun 27 -- Thank you all for your input. From my experience non-competes are inforcable in NJ. After speaking with an underwriter a D&O policy seeems... Playitsafe

Reader Comments

Can U.S. Make Phoning While Driving as Taboo as Drunk Driving?
Posted: Fri Jun 24 -- It infuriates me when I'm driving behind or next to people who are texting and driving. It's hard enough to dial a phone number on your cell... Sam

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