Jul 28, 2011

Daily Headlines: Thursday, July 28, 2011

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Insurance Journal Daily Headlines
July 28, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Insurers Still Saddled with Asbestos Reserve Challenges

Asbestos-related diseases have been falling for a decade, but warnings from a pair of U.S. insurance giants about new claims raise ...

14 Mining Deaths Reported Thus Far in 2011

Federal mine safety regulators said that eight miners have been killed in coal mining operations, and six in the metal and nonmetal sector ...

CNA Enhances Real Time Quoting System for Small Business Agents

Chicago-based CNA announced enhancements to its Real Time Quoting system for agent quoting of Small Business accounts. The company said ...

Group Captive Chooses The Hartford As Insurer

Affinity Insurance Ltd., a casualty lines group captive owned by 290 companies, has selected The Hartford as its insurance carrier for ...

Michigan Group Seeks Supreme Court Review of Healthcare Law

A Michigan-based legal group Wednesday asked the Supreme Court to review and overturn a decision that found President Barack Obama's ...

From MyNewMarkets.com 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...
East

Gay Nuptials Unveil Financial Boon for N.Y. Services

A lot of people are happy to see same-sex marriage legal in New York: lawyers, marriage counselors, insurance agents. The effect of New ...

Long-Time Virginia Insurance Commissioner Gross Dies

Alfred W. Gross, who served as insurance commissioner for the state of Virginia for 14 years until he retired last year, has passed away, ...

State Farm to Reduce Size of N.J. Operations Center

State Farm Insurance Company says it plans to reduce the size of a New Jersey operations center, sending about 500 jobs to New York and ...

Mass. Gun-Maker to Pay $600K in Gun-Death Lawsuit

A Massachusetts gun-maker has agreed to pay nearly $600,000 to the families of one man who was killed and another man who was wounded in a ...
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Midwest

Iowa Receives Federal Waiver for Medical Loss Ratio Implementation

Iowa has received a waiver allowing an adjustment to some transitional Medical Loss Ratio (MLR) provisions of the federal Affordable Care ...

Michigan's Great Northern Insurance Joins the ISU Network

Great Northern Insurance of Sterling Heights, Mich., has joined the ISU Network. Established in 2010, ISU Great Northern Insurance is ...

Court: Moped Not a Motor Vehicle Under Indiana Law

The Indiana Court of Appeals has reversed a man's conviction for operating a motor vehicle while suspended, saying the state didn't prove ...

Feds to Review Iowa Health Insurance Rates

Federal officials say they intend to conduct their own review of Iowa's health insurance rates because the state's review of rates is ...
Southeast

Florida Citizens Proceeds with Bid for 400% Sinkhole Rate Hike

Florida residents who purchase sinkhole insurance through the state-back Citizens Property Insurance Corp. could be looking at increases of ...

Mississippi Fire Departments Share $15M Insurance Tax Proceeds

Fire departments around Mississippi this week are receiving checks for their share of $15.3 million in state fire insurance rebate money. ...

Florida Resurrects Insurance Rate Comparison Web Site

Florida residents will soon have a Web site tool to help them compare homeowners insurance coverage. The Florida Office on Insurance ...

Hylant Group Names Riley President of Nashville Office

Ohio-based independent broker Hylant Group has named industry Kimberly L. Riley as president of its Nashville, Tennessee office. Riley will ...

Slot Machine Gambler Sues Mississippi Casino for Arm Injury

A Tennessee man is suing a Mississippi casino because he claims the slot machine he was playing broke apart and injured his arm and back. ...
South Central

Tropical Storm Warning Issued for Texas Coast

The National Hurricane Center has issued tropical storm warnings and watches for areas along the Texas coast after the formation of ...

Texas Agriculture Losses Could Set New Record Amid Drought

Randy McGee spent $28,000 in one month pumping water onto about 500 acres in West Texas before he decided to give up irrigating 75 acres of ...

Boating Deaths in Louisiana Way Up From Last Year

After fatal boat wrecks a month apart, the Jefferson Parish Sheriff's Office is launching a boater-safety campaign, distributing brochures ...
West

Insurance Co. and Colorado Farmers Settle Fraud Claim

Two Colorado potato farmers and the Great American Insurance Company have agreed to settle a case in which they are accused of making false ...

Insurance Pays $55 Million for New Mexico Freeze

The natural gas shortage and record freezing temperatures that slammed New Mexico in February cost insurance companies $55 million in ...

Alaskan Highway Deaths Up This Year

The number of traffic fatalities on Alaska highways is up from last year. The Department of Public Safety said that as of Monday, there had ...

California Man Gets 70-Month Prison Term for Insurance Fraud

A federal judge in New Jersey has sentenced a California man to 70 months in prison for conspiring to sell bogus liability insurance ...

Contractor Will Not Increase Fund for LA Train Crash Victims

A contractor that employed the engineer blamed for the deadly 2008 crash of a Metrolink commuter train in Los Angeles won't add more money ...
International

Transatlantic Sues Validus, Rejects Offer

Reinsurance company Transatlantic Holdings Inc said Thursday it has filed suit against its unsolicited suitor, Validus Holdings Ltd., and ...

Forecasts for 2011 Atlantic Hurricane Season Largely Unchanged

Forecasters at Weather Services International stuck with their earlier prediction that the 2011 Atlantic hurricane season would bring 15 ...

PartnerRe Comments on Financial Impact of Q2 Losses

Bermuda-based PartnerRe Ltd. has provided information on the net impact of catastrophe-related large losses affecting second quarter 2011 ...

Validus, Transatlantic Miss Earnings Expectations

Reinsurer Validus Holdings Ltd missed second-quarter expectations, as underwriting income fell sharply and the company posted losses from ...

Markel to Launch Dutch Operation

Specialty insurer Markel International is preparing to open a branch office in Rotterdam this September. It will be Markel's first Dutch ...

NZ Minister Says Deal in Global Climate Talks ‘Still within Reach’

A global deal on a pact to succeed the U.N.'s main climate agreement is still within reach but will not be struck this year, with the pace ...

Second Quarter Earnings Reports: ACE Limited

ACE experienced losses in the second quarter, but still turned in excellent results. Chairman and CEO Evan G. Greenberg described the quarter as "excellent," despite being ...
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New Discussions in the Forums

Feedback on being an independent agent for Progressive
Posted: Wed Jul 27 -- I am interested in finding out about people's exeprience selling Progressive commercial insurance. It seems fairly to get an appointment... John J90
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 whether 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
Agency Management Systems
Posted: Tue Jul 26 -- So why are we answering a question that was asked back in '08! Either way, its good to know that ezy lynx was a good rater even back then. I... Brand
Oil drilling Insurance Texas
Posted: Mon Jul 25 -- Oil Drilling in TX. While it's not all encompassing and work comp is not mandatory in TX, the below might be a good indication of where to... kmccarth11

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
Connecticut Teen Injured in Gym Class Sues Town
Posted: Thu Jul 21 -- Maybe she should just wear a helmet everywhere she goes, shopping, grocery store, movies etc. It's a rough world out there, you should be... secretagentman
Poll Says Washington Drivers Do Not Know Left-Lane Law
Posted: Thu Jul 21 -- They don't know it in NJ or PA either. Of course they also don't know what YIELD means or a solid single or double line on the roadway, or... Wayne

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