Jul 18, 2011

Daily Headlines: Monday, July 18, 2011

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Insurance Journal Daily Headlines
July 18, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

S&P Threatens Downgrade of Insurers, Financial Firms Over Debt Ceiling

Standard & Poor's Friday raised the pressure on debt negotiators in Washington, saying it could downgrade insurers, securities ...

Panel Says No Evidence of Wrongdoing at Dow Jones

The independent committee charged with monitoring editorial integrity at The Wall Street Journal said Saturday it has found no evidence of ...

Judge Tosses Racketeering Claims vs. BP Over Oil Spill

BP Plc won two legal victories Friday, as a federal judge threw out racketeering claims made by the lead plaintiffs suing over last year's ...

Feds Questioned About Pipeline Safety

Legislators questioned federal officials last Friday about their plans to tighten the country's pipeline safety rules following numerous ...

Internet Truckstop, Registry Monitoring to Provide Tracking, Insurance Monitoring

Internet Truckstop, an Internet-based freight matching service, is teaming with Registry Monitoring Insurance Service-RMIS to provide ...

‘Bentley Bandit’ Luxury Car Thief, Wanted in 7 States, Caught

Authorities say a fugitive dubbed the "Bentley Bandit'' because of accusations he stole luxury cars is being held without bond in a ...

S&P Threatens Downgrades of Finance Companies; ‘AAA’ Rated Insurers

Standard & Poor's Friday put a broad range of financial firms on negative credit watch, warning they could all be downgraded if the ...

From MyNewMarkets.com Mobile Food Vendor Market Explodes as Insurance Market Evolves

In just about every metropolitan area nationwide hungry customers can appease their appetites by visiting the neighborhood taco truck. The...
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East

Connecticut Owners Rebuilding Barns That Collapsed Under Snow

Wayne Paquette stood beside a mangled pile of metal, the ribs of one of his greenhouses. Beside him, only the two gable ends of the ...

Maine City Debates Home Fire Sprinkler Mandate

The debate over whether to mandate fire sprinklers in new homes is heating up in Maine. South Portland City Council is expected to take up ...

Virginia Judge Nixes Part of $1 Billion Fly Ash Lawsuit

A group of Chesapeake residents plans to refile a $1 billion lawsuit against Dominion Virginia Power after a judge dismissed claims that ...

XS Promotes Costanzo

Massachusetts-based XS Brokers Insurance Agency Inc., has promoted Tony Constanzo to executive vice president. Constanzo has been with XS ...
Academy of Insurance Webinar: Understanding and Explaining Ordinance or Law Coverage
Midwest

Missouri Insurance Officials: $5M Returned to Customers

Missouri's Insurance Department says it's recovered more than $5 million in the first half of the year for residents who filed complaints ...

South Dakota Is Sixth State to Join Surplus Lines Coalition

South Dakota has joined the Non-Admitted Insurance Multi-State Agreement (NIMA) coalition. Insurance Director Merle Scheiber signed the ...

Michigan Teacher Fired Over Racial Comments Awarded $535K

A Michigan jury has awarded $535,000 to a white former Flint teacher who claimed he was illegally fired for a racial comment. Lawyers for ...
Southeast

Mitigation Inspections Hike Premiums for Insureds of Florida Citizens

Florida property owners who purchased coverage from the state's run property insurer have seen their premiums increase by an average $476 ...

West Virginia Moves Ahead with Plan for Business Court

The West Virginia Supreme Court has given a committee the go-ahead to design a new court system that would consider business-related ...

Mississippi Supreme Court Halts Asbestos Case Over Trial Judge

The Mississippi Supreme Court has halted all proceedings in an asbestos case until it determines whether the trial judge should have ...

Georgia Student Sues Fraternity Over ‘Foam Party’ Injury

A University of Georgia student who was injured at a fraternity's "foam party'' has filed a lawsuit seeking medical expenses. Leah Carole ...
Academy of Insurance Webinar: how to read a professional liability policy
South Central

Morgan Keegan to Advise Louisiana on Health Insurance Privatization Effort

Louisiana Gov. Bobby Jindal's administration has selected a company to offer financial advice on the governor's proposal to privatize a ...

Hub International to Acquire Strategic Employee Benefit Services of Louisiana

Chicago-based Hub International Limited (Hub) announced plans to purchase Strategic Employee Benefit Services of Louisiana LLC (SEBS of ...

Morris Honored with Insurance Council of Texas Raymond Mauk Award

Dianne Morris, former president of the Association Casualty Insurance Co., was presented with the Raymond Mauk Leadership Award on July 15 ...

Arkansas Begins ‘Don’t Text While Driving’ Campaign

Arkansas motorists are about to get a steady stream of reminders that it can be deadly to text while behind the wheel. Digital message ...
West

BP Reports Alaskan Oil Pipeline Leak

BP reported yet another pipeline leak at its Alaskan oilfields, frustrating the oil giant's attempts to rebuild its reputation after the ...

Judge Says $200M Los Angeles Train Cash Award Falls Short

The judge deciding how to divide $200 million among victims of a deadly Los Angeles County train crash in 2008 says it will fall far short ...

L.A. Escapes ‘Carmageddon’ as Drivers Stay Home

When Caltrans announced that it planned to close the busy 405 freeway July 15 to 18, the local populace immediately went into panic mode. ...

Probe Into Montana Oil Spill Cause to Take Months

A federal safety official says it will probably be months before investigators know what caused an ExxonMobil oil pipeline to rupture near ...

Cheyenne Hail Damage Could Reach Millions

Damage from the thunderstorm that dropped golfball-sized hail on Cheyenne is expected to reach into the "tens of millions,'' according to ...

Oregon Firefigher’s Family Sues City Over His Suicide

The family of a firefighter who committed suicide after being asked to resign has sued the city of Salem and alleged the city should have ...

California Workers’ Comp Veteran Havlick Dies

California workers' compensation industry veteran Joseph (Joe) George Havlick passed away on July 11 in Reno, Nev. Havlick's insurance ...

MJ Insurance Adds Shultz as Producer in Phoenix

MJ Insurance has hired Byron Shultz as a producer in its Phoenix, Ariz., office. Shultz, who is MJ's third new addition in Phoenix within ...
International

China’s People Insurance Group Plans $5 Billion IPO

State-owned People's Insurance Company of China Group (PICC), one of the country's largest insurers, plans to raise $5 billion to $6 ...

Allianz: Investors Should Forgive 25-30% of Greek Debt

German insurer Allianz , owner of the world's largest bond investor Pimco, favors private investors writing off 25-30 percent of Greece's ...

NHC Tracking Tropical Storm Bret

The National Hurricane Center in Miami is currently tracking Bret, the second named tropical storm of the season. Unless it changes course, ...

IASB Rules ‘On the Way’ to Becoming Global Accounting Standard

A top accounting rules setter said on Thursday it was well on the way to becoming the global standard in a veiled hint that the United ...

AXIS Puts Q2 Cat Losses at $90-$105 Million; Updates Q1 Estimates

Bermuda-based AXIS Capital Holdings Limited has estimated that the total net financial impact of the June 2011 aftershock in New Zealand ...

Zurich Completes Latin American Pact with Banco Santander

The Zurich Financial Services Group announced that it has signed definitive agreements with Banco Santander SA to enter into a long-term ...

Guernsey Removed from U.S. "Blacklist"

The island of Guernsey's Chief Minister, Lyndon Trott, met with officials in Washington this week as part of a series of discussions that ...

Towers Watson Notes Safety Measures Cause Fall in Mideast Traffic Accidents

A report from Towers Watson has concluded that "motor insurance losses in a number of Middle East countries have dropped sharply thanks to ...

S&P Sees No Ratings Change on Validus from Transatlantic Bid

Standard & Poor's Ratings Services has said that its "ratings on Validus Holdings Ltd. (BBB/Stable/--) remain unchanged following the ...

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New Discussions in the Forums

Motorcycle Rental Coverage
Posted: Mon Jul 18 -- Your friend needs to find another Motorcycle rental operator. Coverage is out there. jz20
Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Fri Jul 15 -- Don't major brokerages sell this thru their Private Client or High Net Worth divisions as well? Doesn't Chubb and Aon sell Travel Insurance... bf1chicago
Condo Associations
Posted: Thu Jul 14 -- In CA its Farmers with the coverages, the capacity and the price for HOAs. They fold in virtually everything and can provide ultrahigh... doyourhomework

Reader Comments

Insurer Questions Coverage for Jilted Football Player's Engagement Ring
Posted: Mon Jul 11 -- If she did not want to marry him, she should have returned the ring and the money. that simple. In essence, she is a user. Vickiellen
Agents Question GM Free Car Insurance Deal With MetLife Auto
Posted: Tue Jul 12 -- Question to so called Realist, How doe's insurance regulators of two states become Obama's problem. Do you know the difference between State... Raider Fan
Florida Student Given Alcohol by Teacher Sues School Board
Posted: Tue Jul 12 -- Good notice Compman. In a related story, Meredith Witt will be suing the parents of Dylan Ferguson for allowing Dylan to accept the alcohol,... Foster Brookes
Michigan Woman Sues Man After Facebook Romance Fails
Posted: Thu Jul 14 -- Another frivolous lawsuit that needs to be thrown out. Sometimes relationships fail, that's life, move on. Amazing that a lawyer took this... TxLady

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