Jul 5, 2011

Daily Headlines: Tuesday, July 5, 2011

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Insurance Journal Daily Headlines
July 5, 2011
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Today's Headlines

National

Crime Insurance Steps Up to Plate for Little Leagues As Thefts Rise

A new lock, a thick door and a steel bar across the shuttered front counter of the Canyon Lake Little League concession stand still ...

U.S. Wary of Possible Cuba Oil Spill

With Cuba preparing to explore for oil 60 miles from Florida, the complicated politics of U.S.-Cuba relations are impeding U.S. efforts to ...

Hanover Completes $474M Acquisition of Chaucer

Massachusetts-based The Hanover Insurance Group has completed its acquisition of Chaucer Holdings, a specialty Lloyd's insurance group. ...

Willis Launches Bed Bug Insurance Protection for Hotel, Residential Industries

Willis today has launched Bed Bug Infestation Recovery Insurance (BBIR). This product, developed in collaboration with Lago Vista, ...

Marsh Risk Consulting Launches Information Protection, IP Coverage

The protection of critical information and intellectual property (IP) can determine the success or failure of even the most established ...

New Chubb Service Assists Businesses With Data Breach Fallout

The Chubb Group of Insurance Cos. has introduced a new service to help businesses manage a data breach. In the event of a data breach, the ...

From MyNewMarkets.com Demand for Credit Insurance Product Grows as Fears About Economy Linger

As the economic crisis winds down and the economy slowly begins to return to normal, there still remains a high level of uncertainty. This...
Academy of Insurance Webinar: Identifying Professional Liability Exposures
East

Connecticut Increases Motor Vehicle Fees

Cash-strapped Connecticut has increased a number of fees and charges at its Department of Motor Vehicles (DMV). Among the fees are an $8 ...

State Auto Drops R.I., Limits Coverage in Massachusetts

Ohio-based State Auto Insurance Cos. said it will cease writing coverage in Rhode Island and write only certain lines of business in ...

Valerio Named Regional Exec for TD Insurance

TD Insurance has named Joseph W. Valerio senior vice president - regional sales manager for the Mid-Atlantic region. Valerio will be based ...
Academy of Insurance Webinar: Five Claims Secrets No Lawyer Wants You to Know
Midwest

Insurers Could Pay $2B for Joplin Tornado

Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Mo. But the final ...

Minnesota Insurance Licensing Activity Frozen as Government Shuts Down

The Minnesota Department of Insurance said the shutdown of  the state's government, which became effective July 1, will cause disruption ...

Spriggs to Lead State Auto Government Relations Team

Élise Spriggs, a 20-year veteran of Ohio's legislative and legal communities, has joined Columbus, Ohio-based State Auto Insurance ...

Holborn Adds Brost and Hawn to Executive Ranks

Holborn Corporation, an independent provider of reinsurance brokerage services, announced that James Brost and Jeffrey Hawn have joined the ...
Southeast

Tennessee Workers' Comp Law on Drug Testing Takes Effect

A new workers' compensation law on drug testing became effective, July 1, in Tennessee. Supported by the state's business community, ...

Amish Men Appeal Safety Lights Conviction to Kentucky High Court

Nine Amish men from western Kentucky have asked the state Supreme Court to overturn their convictions for failing to display bright safety ...

New Georgia Law Requires Drivers Yield Space to Bicyclists

Georgia cyclists are celebrating what they say is the biggest improvement to the state's bike safety laws in decades. A new traffic law ...
South Central

Analysis: Arkansas Health Exchange Faces Steep Odds in 2012

 Arkansas' top insurance official says he'll "go down fighting" in favor of the state setting up insurance exchanges under the federal ...

Hub International Acquires Texas-based Roy Agency

Chicago-based Hub International Limited (Hub) has acquired the Roy Agency Inc. (Roy), an insurance brokerage firm headquartered in Plano, ...

Pres. Obama Signs Disaster Declaration for Texas Wildfires

President Barack Obama has signed a major disaster declaration for parts of Texas ravaged by wildfires in April and early May, ordering ...
West

California Workers' Compensation Law Draws Scrutiny with NFL Case

A leading Republican in the California State Legislature said he will push for an overhaul of a state labor law that makes the Golden State ...

Montana Reviewing Pipeline Safety Following Exxon Spill

Montana Governor Brian Schweitzer Monday said authorities will review safety of all oil and gas pipelines that cross waterways in the state ...

Exxon Claims Mont. Oil Spill Damage Limited, Gov. Doubtful

An oil pipeline that spewed tens of thousands of gallons of crude oil into Montana's Yellowstone River was temporarily shut down in May ...

U.S. Risk Insurance Group Names Zechlin Senior Broker

U.S. Risk Insurance Group Inc., the eighth largest managing general agency and surplus lines wholesaler in the nation, announced that it ...

Hawaii Regulator Orders Homeowners Insurers to File New Rates

Hawaii Insurance Commissioner Gordon I. Ito has ordered all homeowner insurers to submit new rate filings after a Insurance Division review ...
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International

Stress Test Results Confirm Strength of European Insurance Industry

The second stress test of European insurers, conducted by the European Insurance and Occupational Pensions Authority (EIOPA), has confirmed ...

China to Tap Foreign Employees for Social Insurance Funds

China has enacted a social insurance law that requires foreigners to pay into medical, pension and unemployment funds for the first time, ...

Swiss Re Warns Europe of Increasing ‘Soil Subsidence’ from Climate Change

According to a new study from Swiss Re, "Europe is witnessing a dramatic increase in property damage as a result of soil subsidence."  A ...

Japan’s Nippon Life to Invest in Germany’s Allianz

Privately held Nippon Life Insurance Co. said on Tuesday it will invest 500 million euros ($709 million) in Germany's Allianz Se , amid an ...

U.S. Calls for Cross-Border Laws to Counter Cyber Attacks

Cyber criminals are outwitting national and international legal systems that fail to embrace technological advances, a top U.S. official ...

Survey Shows Europe’s Top 10 P&C Insurers Grew Premiums by 5.2% in 2010

Spain's MAPFRE has published its 7th annual survey of Europe's non-life insurers, ranking them by gross premiums written. The survey found ...

Lloyd’s Sees Opportunities in Emerging Markets

As levels of international trade and the importance of emerging economies increase, Lloyd's has been very active in its efforts to open ...

Lloyd’s Novae calls off Merger talks with Omega

Lloyd's Novae Group plc announced that it has informed the advisers of Omega Insurance, another Lloyd's insurer that it "has withdrawn from ...
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New Discussions in the Forums

CA-Guaranteed Replacement Cost
Posted: Sat Jul 2 -- HO-411 Guaranteed Replacement Cost, affects Coverage A, B, C, and D limits. It's not exactly "unlimited" as the endorsement or some people... RKunz2
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

Federal Appeals Court Upholds Individual Health Insurance Mandate
Posted: Wed Jun 29 -- Everyone, Just read the Constitution and honestly make up your own mind as to what the authors of this great document had in mind to the... Sarah
Federal Appeals Court Upholds Individual Health Insurance Mandate
Posted: Wed Jun 29 -- This is like saying that because the housing industry is in trouble all renters will be required to purchase a home by 2014 - thereby... Richelene
Federal Appeals Court Upholds Individual Health Insurance Mandate
Posted: Wed Jun 29 -- All I can say if you thought that November of 2010 was a romp! just wait until November 2012. The only democrat in congress will be sweeping... Sarah

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