Aug 9, 2011

Daily Headlines: Tuesday, August 9, 2011

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Insurance Journal Daily Headlines
August 9, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Why Wall Street Likes Reinsurance Business

Warren Buffett's entry into the bidding for Transatlantic Holdings is drawing fresh attention to the reinsurance industry, which ...

Diabetes Drug Maker Facing Hundreds of Lawsuits

The maker of the world's best-selling diabetes drug is facing hundreds of lawsuits and likely a big sales drop as suspicion grows that ...

Transatlantic Says National Indemnity Offer May Lead to ‘Superior Proposal’

Transatlantic Holdings  has agreed to discuss National Indemnity Co.'s offer to acquire all of its common stock for $52 per share. ...

Americans Support National Law on Teen Driving: Survey

Nearly six in 10 Americans favor a federal law that would impose driving restrictions on teen drivers and institute a graduated driving ...

Don’t Miss This Year’s Best Agencies to Work For Survey

Do you love your boss? Do you love your agency? Do you think your independent insurance agency or brokerage firm is a GREAT place to ...

S&P Takes Action on Insurance Groups Following U.S. Sovereign Downgrade

Standard & Poor's Ratings Services lowered its long-term sovereign credit rating on the United States of America to 'AA+' and assigned ...

From MyNewMarkets.com Understanding Legal Liability for Condominium Association and Unit Owners

Legal liability is liability imposed by the courts or by statute on any person or entity responsible for the financial injury or damage...
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East

New York Hotel Sues Over Ground Zero Construction Noise

The din of rebuilding the World Trade Center is driving guests away from a prominent hotel overlooking ground zero, and the agency in ...

What New Car Insurance Rules Mean for New Jersey

New Jersey proposed a sweeping overhaul last week to its regulations for the personal injury protection component of auto insurance, hoping ...

Ex-Staffer Sues NBC, Alleges Harassment Over Heritage

A former NBC studio technician in New York City says colleagues taunted him about his Native American heritage by displaying a doll in ...

Captive Insurance Professionals Gather in Vermont for Annual Conference

Captive insurance professionals from throughout the United States and around the world are gathering in Burlington, Vermont next week for ...
WEDNESDAY AUGUST 10: Academy of Insurance Webinar: Using Social Media to Help Your Search Engine Ranking
Midwest

Amerisure Employee Named International Risk Management Professional of the Year

Michigan-based Amerisure Mutual Insurance Company, one of the nation's leading property and casualty insurance companies, is pleased to ...

N.D. Flooding Disaster Aid Surpasses $175 Million

The amount of disaster aid paid out in response to flooding in North Dakota this year has surpassed $175 million. FEMA says the total ...

Ohio and Nebraska Agencies Join Iroquois Group

Mittelstadt Agency of Nebraska and Nelson Insurance of Ohio joined the Iroquois Group. The agency was founded in June of 2000 and recently ...

Teachers in Iowa School District Get Pay Cut

Teachers in the Charles City School District in Iowa will get a pay cut under their new contract. Superintendent Andy Pattee told the ...
Southeast

West Virginia Jury Awards $91.5 Million in Nursing Home Death

A jury in Kanawha County, West Virginia has awarded $91.5 million in damages to the family of an 87-year-old woman who died after her stay ...

21 West Virginia Flood-Prone Propertes Eligible for Buyouts

Owners of 21 flood-prone properties in a rural Berkeley County, West Virginia community are being offered buyouts. The parcels in ...

Foundation Financial Group Opens Georgia Office

Foundation Financial Group, which is headquartered in Jacksonville, Fla., is opening an Atlanta office that will oversee its operations in ...
South Central

Firefighters Still Working Fires Across Oklahoma

Firefighters caught no break as new grass fires continued to break out in parts of Oklahoma and others rekindled from days before. At least ...

Mary Travis Wins Jack Claitor Scholarship at TSLA Mid-Year

Texas Surplus Lines Association President, Todd Teitell, announced that Mary Travis, IMS/London American, was presented with the 2011 Jack ...

Fire Weather Watch Issued for 47 Oklahoma Counties

Authorities are warning that more wildfires could be possible across Oklahoma as winds increase from the southwest. The National Weather ...
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West

Farmers Settles Medical Reimbursement Class Action Suit

Farmers Insurance announced late last week that it had agreed to settle a nationwide class action lawsuit regarding the medical bills of ...

Santa Monica’s White & Co. Hires Agent

White & Company Insurance, Inc., of Santa Monica, Calif., is pleased to announce the addition of Dane Lupe to our staff. Dane has over ...

California’s PacWest Expands with Two New Agencies

PacWest Alliance Insurance Services, Inc. welcomes two new members: Hooper, Spuhler & Sturgeon Insurance Services and Moore & ...
International

ABI Reacts to London Riots; Details of Insurance Coverage

Nick Starling, Director of General Insurance and Health, of the Association of British Insurers, issued the following statement following ...

Lloyd’s: Drought Caused Subsidence Costliest Natural Hazard in Parts of Europe

An article on the Lloyd's web site notes that "news reports on climate change have focused on dire predictions of more hurricanes and ...

UK’s Sportscover Snares Badminton Tournament Coverage

London-based specialized agency Sportscover announced that it has been selected as the "Official Insurance Partner for the Yonex BWF World ...
THURSDAY AUGUST 11: Academy of Insurance Webinar: What EVERY Agent Needs to Know about D&O

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Insurance Journal TV

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How New NRRA Regulations and California's AB315 Will Change the Surplus Lines Industry

Jerry Sullivan, the head of the Sullivan Group, gives his views, largely positive, on how the...
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100 Agents in 100 Days

Accident Insurance Co., a growing workers' compensation and small business insurer, is...

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New Discussions in the Forums

National Agents Alliance? Legit or Keep Away?
Posted: Tue Aug 9 -- I think it is really funny how all these "curious" people are on here saying all the bad things about NAA or listening to them. Believe what... successisgreat
Broker of Agent
Posted: Mon Aug 8 -- Once a policy has been processed on a BOR, does the original agent get hit for a claim that is reopened after the effective date of the BOR?... snowbird
Info on Employee Information Services company
Posted: Sat Aug 6 -- Has anyone heard about the company, 'Employee Information Services'? I've only seen one review. They are hiring nationally and I wanted to... TorontoTexas
Californian Question
Posted: Fri Aug 5 -- Dear munda4545. Your bankruptcy will not necessarily prevent you from getting an insurance license or from being successful in the insurance... tpadgett

Reader Comments

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
Judge Allows Army Veteran to Sue Rumsfeld for Damages Over Torture
Posted: Fri Aug 5 -- Gee.....detaining Citizens and denying them legal representation, refusing to acknowledgement their detainment to family members and... Cheri
How Debt Ceiling Politics Impact P/C Insurance Industry
Posted: Tue Aug 2 -- Lets see,, my teenager gets a credit card and max's out the card, then she asks me to sign for an increase in the limit. Comon Sean, any... Chuck

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