Jul 29, 2011

Daily Headlines: Friday, July 29, 2011

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

Today's Headlines

National

Audit Criticizes Administration of Defense Base Insurance Program

A recent governmental audit of the workers' compensation insurance program for U.S. government contractors working on Afghanistan ...

Contractors Acting As Public Insurance Adjusters Irk States

Public adjusting activity is not welcome or licensed in all states and even in some where it is, the practice is coming under close ...

Aon Q2 Profit Rises 69%

Insurance broker and risk services firm Aon Corp. reported that profit for the second quarter rose 69 percent to $258 million, as revenues ...

House Committee Hears Concerns on Surplus Lines Reform Tax Issue

Just days after the surplus line reform legislation became effective, federal legislators heard comments from industry insiders on concerns ...

P/C Commercial Prices Showed Modest Increases in Q2: Brokers’ Survey

Pricing in the U.S. commercial property/casualty market showed modest increases in the second quarter of this year, compared with the first ...

From MyNewMarkets.com Ryan Specialty Brings Additional Capacity, Expertise to Renewable Energy Segment

Ryan Specialty's new managing general agency, Power.Energy.Risk, or PER Se, will focus on renewable energy risks and while the company may...
WEDNESDAY: Academy of Insurance Webinar: Developing Producer Compensation & Agency Perpetuation Plans
East

Judge Releases Mass. Agency from 9/11 Lawsuit

The Massachusetts Port Authority was dismissed as a defendant from the last pending wrongful death lawsuit related to the Sept. 11 attacks, ...

South Jersey Port Corp. Ends Attendance Perk

Acting on orders from Gov. Chris Christie, the South Jersey Port Corp. is no longer awarding bonuses to workers who show up on time. The ...

Lloyd's Receives Reduced Collateral Approval in New York

Lloyd's received approval from the New York Insurance Department to post reduced collateral on reinsurance contracts. Lloyd's is ...

Conn. Museum Audit Reveals Losses of More Than $500,000

An investigation into employee theft at the Mark Twain House & Museum in Connecticut shows the organization lost more than $500,000. ...

Rite Aid to Pay Mass. $2.1M for Overcharges

Rite Aid has agreed to pay $2.1 million in a settlement with the state attorney general's office over alleged overcharges for prescription ...
Academy of Insurance Webinar: How to Match Professional Liability Coverage to Your Insured's Exposures
Midwest

Wisconsin City to Pay $270,000 to Settle Asbestos Lawsuit

The City of Beloit has agreed to pay $270,000 to settle allegations that it sold a building with asbestos issues. City Manager Larry Arft ...

Iowa Governor Vetoes $5 Million Package for Lake Delhi Dam

Lake Delhi, Iowa, community leaders say they're shocked and disappointed over Gov. Terry Branstad's veto of a $5 million assistance ...
Southeast

Massey Settles Massive West Virginia Coal Slurry Case

After a marathon mediation session that ended just before dawn Wednesday, mining company Massey Energy settled a 7-year-old lawsuit with ...

Florida Officials Suspect Fraud in Rash of Kitchen Fires

Florida officials are investigating a spate of kitchen fires that have some wondering if they may have been started on purpose to receive ...

Gallagher Acquires Georgia’s Potter-Holden

Illinois-based international insurance broker Arthur J. Gallagher & Co. has acquired Potter-Holden & Co. of Atlanta, Georgia. Terms ...

Florida City: Please Stop Stealing Stop Signs

Officials in Gainesville, Florida have a message for residents and visitors. Please stop stealing stop signs. Since Jan. 1, the city has ...

Florida Nudists Injured in Water Scooter Crash

Authorities say two people were injured when their water scooter hit a sea wall near Cypress Cove Nudist Resort in Kissimmee. An Osceola ...
South Central

Tropical Storm Don Expected to Hit South Texas Coast Overnight

A tropical storm warning remains in effect for the Texas coast from Matagorda Island to the mouth of the Rio Grande River. The National ...

Study: Workers' Comp Drug Costs Higher in Texas, Louisiana

A new study indicates that Louisiana had the highest workers' compensation prescription costs among the 17 states studied and that Texas ...

South Carolina Company Donates Fire Truck to Texas Department

A South Carolina company is donating a used fire truck to a Texas volunteer fire department whose station was destroyed by fire earlier ...

Texas Mutual Distributes $155M in Policyholder Dividends

Texas Mutual Insurance Co. announced it is distributing to policyholders $155 million in workers' compensation dividends. Texas Mutual ...
West

Disaster Aid for Montana Approved

The federal government is approving Montana's request for disaster assistance. Gov. Brian Schweitzer says that he has been notified by the ...

Montana Reminds Farmers to Buy Hail Insurance

Montana's Department of Agriculture is reminding farmers that there is a state hail insurance program, and that the deadline to purchase ...

Gordon Joins California’s Poms As Account Executive

Poms & Associates Insurance Brokers Inc., an insurance brokerage firm focusing on commercial insurance, employee benefits, corporate ...
International

Lloyd's Receives Approval for Reduced Collateral from New York

Lloyd's announced that it has received approval from the New York Insurance Department to post reduced collateral on reinsurance ...

Rio-Paris Crash Probe Finds Air France Pilots Ignored Warnings

French investigators said on Friday that the crew of Air France's Rio-Paris flight which crashed into the Atlantic two years ago ignored ...

Canada’s Top Court to Rule on Tobacco Liability

Canada's Supreme Court will decide Friday whether the federal government should be partly liable for damages, possibly amounting to many ...

Fairfax Financial Profit Rises on Investments

Fairfax Financial Holdings, which took a 9 percent stake in Bank of Ireland earlier this week, said Thursday its quarterly profit rose from ...

Lloyd's Appoints Steel New Open Form Appeal Arbitrator

Lloyd's announced the appointment of Sir David Steel as the next Lloyd's Open Form (LOF) appeal arbitrator to hear salvage cases arising ...
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The Word Strategy

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New Discussions in the Forums

GC spec home builder in CA
Posted: Fri Jul 29 -- Home Builder will offer several floor plans for home and a home builder whose website boasts interactive maps suggests both technically... Linda27
Agency Management Systems
Posted: Thu Jul 28 -- We are considering Eclipse, what are the pros and cons for this system dukekneeland
Oil drilling Insurance Texas
Posted: Thu Jul 28 -- Depending on the coverage I would like to take a look at this account. You can send it over to ... RAM
Feedback on being an independent agent for Progressive
Posted: Thu Jul 28 -- I have two main gripes with Progressive. Low commission rate (10% on commercial vs upto 17.5% with other commercial carriers), and it's... jtownagent
CA-Guaranteed Replacement Cost
Posted: Wed Jul 27 -- I could NOT AGREE more with your statement!!! d's, you hit the nail on the head. Even today after all we've learned about appropriate... RKunz2
National Agents Alliance? Legit or Keep Away?
Posted: Wed Jul 27 -- you can cash flow with NAA but look out.... you will be shelling out money and getting charge backs within 6 months to a year.... it will... dont do it
CA-Cell Phone Towers
Posted: Wed Jul 27 -- Maybe a "land leased to others" policy with BI/EE? Does the lease specify whehter the rent will continue be paid if the tower is damaged. wariline
San Fran/Sacramento Agencies
Posted: Wed Jul 27 -- Does anyone know the private insurance agencies in this general area that they would recommend? Any to stay away from? I understand this is... marty202

Reader Comments

Allstate Agents Hope Unionization Sparks Changes at Insurer
Posted: Tue Jul 26 -- I think I got it figured out.. what they appear to be doing is getting rid of the smaller agencies and trying to form a "mega" agency and... chuck
Allstate Agents Hope Unionization Sparks Changes at Insurer
Posted: Tue Jul 26 -- I have been an Allstate agent since the 90's. I can't believe what Allstate is saying about moral. Maybe they should call a few agents and... ste
Allstate Agents Hope Unionization Sparks Changes at Insurer
Posted: Tue Jul 26 -- I knew something was up when they bought Esurance. I think allstate has hired the Mayhem guy as their CEO. It really is too bad a company... Sarah

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