Aug 5, 2011

Daily Headlines: Friday, August 5, 2011

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Insurance Journal Daily Headlines
August 5, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Judge Allows Army Veteran to Sue Rumsfeld for Damages Over Torture

A judge is allowing an Army veteran who says he was imprisoned unjustly and tortured by the U.S. military in Iraq to sue former Defense ...

April Set U.S. Record for Tornadoes

The U.S. set a record for the most tornadoes within a month with April's deadly storms. The final report for the month shows there were 753 ...

AIG Posts Q2 Profit on AIA Stake

Bailed-out insurer American International Group reported a profit for the second quarter Thursday, as tax benefits and its one-third stake ...

AIG Plans to Keep Mortgage Insurance Unit

Bailed-out insurer American International Group plans to hold on to its mortgage insurance business even as the rest of that industry ...

Asbestos Claims on Rise at MetLife

Asbestos-related claims against MetLife Inc. rose 11 percent in the first half of the year, the company said Friday, mirroring recent ...

Wells Fargo to Pay $590 Million to Settle Wachovia Claim

Wells Fargo & Co. plans to pay $590 million to settle a class action lawsuit regarding Wachovia preferred securities and debt, the ...

Bank of America Says Legal Losses Could Hit $2.3 Billion

Bank of America Corp.'s legal losses could cost as much as $2.3 billion above money already set aside to cover litigation, the largest U.S. ...

Chartis Expands Building Services Contractors’ General Liability Coverage

Chartis introduced a new general liaiblity product for building services contractors to address several target casualty exposures in a ...

From MyNewMarkets.com Zurich Says Its Policy for Sony Doesn't Cover Data Breach

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...
THURSDAY AUGUST 11: Academy of Insurance Webinar: What EVERY Agent Needs to Know about D&O
East

Virginia University Settles Student Lawsuit Over Rape

A lawsuit filed against the University of Mary Washington  in Fredericksburg, Virginia by a former student who was raped on campus has ...

2000 Honda Civic Most Frequently Stolen Car in New York State

The New York Insurance Association has noted that the 2000 Honda Civic is again the most frequently stolen vehicle in New York State. The ...
WEDNESDAY AUGUST 10: Academy of Insurance Webinar: Using Social Media to Help Your Search Engine Ranking
Midwest

Wisconsin Repays Medical Malpractice Claims Fund

Wisconsin Gov. Scott Walker announced that the state has made a payment of more than $200 million owed to the Injured Patients and Families ...

Minn. Supreme Court Rules Against Agent in Negligent Procurement Case

An insurance agent in Minnesota lost an appeal asking to the state Supreme Court to dismiss a case against him over "negligent ...

Illinoisan Admits $2.4 Million Investment Scheme

A judge has set a November sentencing date for a southwestern Illinois businessman who's admitted orchestrating a scheme that swindled $2.4 ...

Aon Risk Solutions Appoints Ebanks as COO, Wineman as Sr. Managing Director

Aon Risk Solutions, the global risk management and insurance brokerage business of Chicago-based Aon Corp., has appointed Clyde Ebanks as ...
Southeast

Tennessee Reopens for Business from Captive Insurers

Applications are now being accepted in Tennessee for firms looking to create captive insurers under the state's revised law. The Tennessee ...

Mississippi Supreme Court Asked to Settle Lawyer Fees Dispute

Republican state Auditor Stacy Pickering has asked the Mississippi Supreme Court to declare funds the attorney general collects from ...

Court Reinstates Gay Stagehand’s Bias Claim Against Nashville Union

A stagehand who claims he lost work on country music awards shows because he is gay has won a federal court ruling that allows him to ...

Florida Sen. Fasano Plans Rally Against Sinkhole Insurance Rates

State Sen. Mike Fasano is rallying Florida policyholders to join him in front of the Pasco County Government Center next Tuesday in a ...
South Central

BancorpSouth and First National Bank Enter Sale Agreement

BancorpSouth, Inc. announced that its banking subsidiary, BancorpSouth Bank, and the First National Bank of Hughes Springs, Texas, have ...

Progressive to Hire More Than 100 People in Austin by End of Q3

Progressive Insurance announced it is looking to fill 101 new positions in sales, service, and claims at its Austin contact center by the ...
West

LA Car Arson Suspect May Have Set Fires in Japan

Fire investigators tried to determine Wednesday whether a man arrested for investigation of a serial arson spree in the San Fernando Valley ...

California Insurance Department Gives Grants to District Attorneys

California Insurance Commissioner Dave Jones today announced $3.2 million in grants to California District Attorneys aimed at combating ...

XL Insurance Appoints Western Property Executive

XL Insurance has appointed Wade Pitman as senior vice president and Western senior executive for property. Pitman will be based in Los ...

AIPSO Appoints Western Region Manager

AIPSO has appointed Roberta Haskins to serve as the manager of its Western Region, which includes the California Automobile Assigned Risk ...
International

European Insurers’ Greek Hit Fuels Debt Concerns

Allianz and Generali followed rivals in aggressively writing down holdings of Greek government bonds on Friday, fuelling investor concerns ...

Shell Faces First Nigerian Oil Spill Claims in UK

Royal Dutch Shell has agreed that a Nigerian community impacted by its oil spills can seek compensation in a British court, lawyers in the ...

Aon Benfield Monthly Report Highlights Increased Global Storm Activity

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released the latest edition of its Monthly Cat ...

Despite Q2 Profits Munich Re Posts $297 Million 1st Half Loss

Munich Re, the world's largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million ...

Tropical Storm Emily Breaks up over Haiti; Still Threatens Rains

Tropical Storm Emily broke apart over the mountains of Haiti and the Dominican Republic Thursday, but its remnants still packed rains ...

Typhoon Muifa Drops Heavy Rains on Philippines; Moving to China

Catastrophe modeling firm AIR Worldwide is currently tracking Typhoon Muifa as it moves across the Pacific Ocean towards mainland China, ...
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New Discussions in the Forums

Energy Savings Insurance (ESI)
Posted: Fri Aug 5 -- ESI, also known as an Energy Savings Warranty or Energy Savings Warranty Insurance, was developed to reduce the inherent risk involved in... himusarker
Californian Question
Posted: Fri Aug 5 -- Hello Everyone, Due to bitter divorce had bankruptcy in past. Does that bankruptcy ghost prevent me to get a license or to become a... munda4545
SEO and buying back links
Posted: Fri Aug 5 -- I have not yet started my website, but I plan on doing in the next two months! I have a question, What is exactly the strategy of organic... jenny1406
Auto Salvage / Wrecking Yard
Posted: Fri Aug 5 -- CENTURY SURETY has one of the best products for this. Find a surplus lines that has them. jack1978
Commercial Auto in CA
Posted: Fri Aug 5 -- CAL-REGENT...they are amazing jack1978
Long Haul Trucking
Posted: Fri Aug 5 -- I need some appointments for long haul trucking. For some reason i'm having the hardest time with this. Can you guys point me to the right... jack1978
cash advance interest anz
Posted: Fri Aug 5 -- cash advance interest anz Fewer people are losing their jobs. The presentation explained that the ALR method would give full account of the... roicbonin

Reader Comments

How Debt Ceiling Politics Impact P/C Insurance Industry
Posted: Mon Aug 1 -- There was only one good bill that dealt with the problem of our debt. Cut, Cap and Balance! These carriers should not be happy with the bill... Sarah
Florida Governor Suggests Making PIP Coverage Optional for Drivers
Posted: Tue Aug 2 -- If Govenor Scott makes PIP optional, he should then change the law to make BI and possibly even UM mandatory. This should allow the... Kimberly Jorden
Michigan Supreme Court Rejects Bike Trail Injury Claim
Posted: Wed Aug 3 -- Speaking as someone who broke a collarbone, two wrists, and disclocated a shoulder while riding my ATV on a trail, I never sued anyone. It... Mikey
Florida Nudists Injured in Water Scooter Crash
Posted: Fri Jul 29 -- They're older nudists though. The middle layer drops down. youngin'
Latin Jazz Players Sue After Being Cut Out of Grammy Awards
Posted: Thu Aug 4 -- whine, whine, whine.... Compliance Kid

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