Jul 21, 2011

Daily Headlines: Thursday, July 21, 2011

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Insurance Journal Daily Headlines
July 21, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Travelers Posts Q2 Loss with $1 Billion in Tornado Costs

Travelers Cos. Inc. reported a second-quarter loss, missing analysts' estimates by a huge margin as the property insurer suffered more than ...

Sony Insurer, Zurich, Files Suit to Deny Data Breach Coverage

One of Sony Corp's insurers has asked a court to declare that it does not have to pay to defend the media and electronics conglomerate from ...

S&P Says 50-50 Chance of U.S. Ratings Downgrade

Standard & Poor's reiterated Thursday it sees a real risk that future U.S. government deficits may meaningfully miss discussed targets ...

States Negotiating Immunity for Banks Over Foreclosures

State attorneys general are negotiating to give major banks wide immunity over irregularities in handling foreclosures, even as evidence ...

Ready or Not, New Surplus Lines Law Is Here

The implementation deadline for the Nonadmitted and Reinsurance Reform Act has arrived. States have been scrambling over the past year to ...

Good Morning NRRA! Home State Scenarios for Affiliated Groups

Welcome to the magical mystery tour of Home State taxation and regulation under Nonadmitted Insurance and Reinsurance Reform Act of 2010 ...

Ryan Specialty Group Forms MGA Focusing on Renewable Energy Risks

Ryan Specialty Group, LLC (RSG) introduces PER se (Power.Energy.Risk, 'securing the environment') – an MGU specializing in the energy ...

Who Is Paying News Corp. Legal Bills? – D&O Coverage Heavily Involved

With executives from News Corp. and some of its subsidiaries heading for the exits, legal bills from the phone-hacking scandal rocking the ...

From MyNewMarkets.com Insurance Noodle 2.0 Promises Real-Time Turnaround and Quotes

Web-based insurance wholesaler Insurance Noodle has come a long way since 2000 when it first went live. Since then, the online broker has...
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East

Connecticut Teen Injured in Gym Class Sues Town

The family of a Trumbull High School student is suing the town and the Board of Education after being struck in the head by a tennis ball ...

9/11 Families Seek Meeting on News Corp. Phone Hacking Reports

Relatives of victims of the Sept. 11 attacks have asked to meet the FBI and the U.S. Justice Department to discuss the agencies' ...

Massachusetts Reports Decline in Drunk Driving Arrests

The state Registry of Motor Vehicles says the number of drunken driving arrests has declined in Massachusetts in the past five years. The ...
Midwest

Minnesota Governor Signs Budget, Ends State Shutdown

Minnesota Gov. Mark Dayton ended America's longest state government shutdown in the past decade on July 20 by signing a new budget. ...

Insurance a Part of Minnesota Congressman’s Proposed Dairy Subsidy Reforms

When milk prices plummeted in 2009, wiping out years of savings and causing hundreds of dairy farms to go under, struggling farmers pleaded ...

Wells Fargo Insurance Services Names Zheng Client Services Advisor

Wells Fargo Insurance Services has named Yuan Zheng client services advisor for the company's international benefits practice. He will be ...

Illinois Governor Appoints 12 to Workers' Comp Advisory Board

Illinois Gov. Pat Quinn has appointed 12 new members to the state's Workers' Compensation Advisory Board as part of the implementation ...

Insurance Broker Lockton Welcomes Associate Into Producer Role

Lockton Companies LLC a Kansas City-based firm specializing in insurance, risk management and employee benefits, has added Brett Lane to ...
Southeast

Florida Weighs Sale of Top Medical Malpractice Insurer

One of Florida's major medical malpractice insurers is seeking state approval to be sold to an out-of-state insurance group with the ...

Florida Names Westcott as Insurance Consumer Advocate

Florida Chief Financial Officer Jeff Atwater said he is naming Jamie Westcott, an attorney and longtime insurance watchdog, to the post of ...

Doctor Liability Insurer MAG Mutual Names Wilson Chairman, CEO

Medical professional liability insurance company MAG Mutual Insurance Co. in Atlanta has named cardiologist Joseph S. Wilson Jr., M.D. as ...

Floridians Await Chinese Drywall Settlement Monies

Florida residents whose homes were built by inferior Chinese drywall stand to gain a total of $55 million, but no one can say right now how ...
South Central

Texas Gov. Signs Windstorm Bill, Measure Affecting Surplus Lines

Legislative measures passed during the special session of the 82nd Legislature that impact the insurance industry in Texas have been signed ...

Zurich to Offer Insurance Option for Texas WC Non-Subscriber Employers

Zurich North America Commercial's Accident & Health unit is now providing an alternative to Texas workers' compensation coverage for ...

Zurich North America Commercial Offers Alternative to Texas Nonsubscribers

Property and casualty insurance Zurich announced its North America Commercial's Accident & Health unit is now providing an alternative ...

Kitzman Appointed as Next Texas Insurance Commissioner

Texas Gov. Rick Perry announced the appointment of Eleanor Kitzman of Austin as Texas Insurance Commissioner, effective Aug. 15, 2011, for ...
West

Poll Says Washington Drivers Do Not Know Left-Lane Law

Forty-three percent of drivers in Washington State do not know that it is illegal to impede the flow of traffic in the left lane of a ...

Auto-Glass Installer Sentenced in $1.6 Million Insurance Fraud

A Burien, Wash., auto glass company owner has been sentenced to jail for a billing scheme that's believed to have cost insurers more than ...

Nevada Joins Multistate Insurance Tax Sharing Plan

The Nevada State Board of Examiners has approved a plan to have Nevada join into a program with other states to share insurance tax ...

Farmers, CEO Honored for Work with City of Hope Hospital

City of Hope hospital and research center's National Insurance Industry Council is acknowledging Farmers Insurance and its chief executive ...
International

U.S. Judge Allows Shareholder Suits Against China Accountants

The fourth time was the charm for shareholders suing the auditors of Shenzhen-based China Expert Technology. China Expert shareholders have ...

UK’s Willis Limited Reaches Settlement with FSA

UK insurance broker Willis Limited, a subsidiary of Willis Group Holdings, announced that it has reached a settlement with the Financial ...

Aon GRIP Solutions Expands Europe, Middle East and Africa Team

Aon Risk Solutions, the global risk management and insurance brokerage business of Aon Corp., announced three senior-level appointments for ...

Britain: Is It More Corrupt Than It Thinks? Is the U.S.?

Britons love to lecture the world about integrity and the rule of law, but the News of the World phone hacking scandal has laid bare a web ...

West, Russia Divided on U.N. Security Council Climate Role

Western nations clashed with Russia and developing countries Wednesday over whether climate change was a security matter meriting the ...

Tropical Storm Ma-On Makes Landfall, Heavy Rains in Southern Japan

According to catastrophe modeling firm AIR Worldwide, Tropical Storm Ma-On made landfall in southern Tokushima Prefecture on Shikoku Island ...

Canada’s Reformed Class Action Law Wins Few Friends

A Canadian law designed to make it easier to bring class action suits against companies that mislead investors has all sides frustrated as ...

Validus, Allied World Tussle over Transatlantic Heats Up

In dueling press releases both Allied World Assurance and Validus Holdings reaffirmed their respective positions in their competing efforts ...

Willis Research Network, Georgia State Team up for Economic Capital Models

The Willis Research Network (WRN), the academic and analysis arm of Willis Group Holdings, has founded the Willis Research Network Economic ...

Aon Appoints Head Broker for Construction, Power, Infrastructure in Singapore

Aon Risk Solutions, the global risk management business of Aon Corp., has appointed Nicki Tilney as head broker of construction, power and ...

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New Discussions in the Forums

Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Wed Jul 20 -- Fireman's Fund Insurance Co offers Travel insurance that you might be looking for - any independent agency or broker who is appointed with... insgal2005
Newbie Question about Pay
Posted: Wed Jul 20 -- What do you all consider a solid year for a producer? I have been in the business for 4 years now and I am doing close to $500,000 new... Producer19
Titan Insurance Company
Posted: Tue Jul 19 -- Can anyone tell me the good, the bad, or the ugly pertaining to Titan Insurance Co. Risk type local trucking, hauling for hire sand and... trotter
National Agents Alliance? Legit or Keep Away?
Posted: Tue Jul 19 -- Over the past two years National Agents Alliance has made a conservative effort to improve its operations and levels of customer... larryking22
Motorcycle Rental Coverage
Posted: Mon Jul 18 -- Your friend needs to find another Motorcycle rental operator. Coverage is out there. jz20

Reader Comments

Hawaii Blowhole Death Raises Liability Questions
Posted: Tue Jul 19 -- She should sue the ocean, I mean it is really what is to blame here. Has a total disregard for human life. Geez, how could one have known... Jen
L.A. Escapes 'Carmageddon' as Drivers Stay Home
Posted: Mon Jul 18 -- The reality is that many employees could stay home every day. Mobile computing and today's IT environments make it easy for many working... Aaron Boigon
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
Connecticut Court Holds Teen Liable for Party Damage
Posted: Tue Jul 19 -- Seriously, this is a no brainer. Let me guess, the parents disagreed with making the children be responsible. Another fine example of... ToulaMarie

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