Nov 5, 2012

Daily Headlines: Monday, November 5, 2012

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Insurance Journal Daily Headlines
November 5, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

State Elections to Decide Insurance Commissoner, Ballot Initiatives, Court Contests

For the insurance industry, there is more at stake in the Nov. 6 election than who goes to or stays in the White House and Congress. The ...

Sandy Losses Within Hurricane Model Estimates, Manageable: Reinsurer Hiscox

Superstorm Sandy won't put insurers' finances under severe strain, and may allow them to push through a profit-boosting rise in prices next ...

Program Business Hits $24.7B in 2011: Study

The program business market reached $24.7 billion in gross written premiums in 2011, up from $22.6 billion in 2010, according to a new ...

E&O Risks When Insuring Commerical Property

It seems that every year commercial property is one of the top three lines of business generating errors and omissions (E&O) claims against ...

RLI Acquires Medical Malpractice Underwriting Agency

RLI Corp. has acquired Rockbridge Underwriting Agency, a managing general agency specializing in medical malpractice insurance. Rockbridge ...

Superstorm Sandy Will Test Federal Flood Insurance Program

Superstorm Sandy is threatening to drag the U.S. government's debt-ridden flood insurance program back into the political crosshairs just ...

From MyNewMarkets.com Big Business Interruption Losses Looming After Sandy

As the insurance industry makes assessments for superstorm Sandy's impact, analysts say there is now the potential for significant...
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East

Va. Court: Chinese Drywall Damage Excluded From Homeowners Policy

The Virginia Supreme Court ruled last week that home damages that were allegedly caused by Chinese drywall are excluded from TravCo ...

Allstate Poised to Benefit From Reduced Exposure Along East Coast

Allstate Corp.'s chief executive said the company's effort during the past five years to reduce exposures along the East Coast is helping ...

Insured, Uninsured Sandy Victims Try to Get Through

Standing in the driveway next to the charred shell of his house on Long Beach, Long Island, with the hood open to his water-logged, ...

Some Sandy Victims Wait As Insurance Adjusters Wait for Access, Prioritize Claims

Pat Groover called her insurance company on Tuesday morning, the day after a massive tree gave in to storm Sandy's winds, ripped the front ...

AIG: Sandy Losses Won't Be a Huge Issue Financially

The American International Group executives are assuring investors that Sandy-related losses won't have any significant impact on the ...

Power, Transit Outages Could Make Sandy 2nd-Costliest Storm in U.S.

Widespread power outages and subway shutdowns may wind up making Superstorm Sandy the second most expensive storm in U.S. history. That ...

Hurricane Deductibles Won't Apply for Sandy in Del. Penn., R.I., D.C.

Delaware, Pennsylvania, Rhode Island and the District of Columbia have declared that hurricane deductibles won't be applicable for ...

Sandy Claims Continue to Pour In at Quick Pace

Insurers said Sandy-related claims have been pouring in at a rapid pace in the immediate days after the storm -- and that as some sense of ...

NYC Completes Inspections of Dangling 'Hurricrane'

Experts are reviewing plans to secure the arm of a crane that's been dangling off a luxury high-rise in midtown Manhattan.City officials ...
Secrets of insuring restaurants webinar from Academy of Insurance
Midwest

Corn Crop Insurance Payout up to $7.50 Per Bushel

Corn farmers who chose to pay more to insure their crops at harvest prices have gotten some welcome news from the U.S. Department of ...

Minnesota Man Convicted of Setting House on Fire for Insurance

A Hillman, Minn., man whose home was facing foreclosure has been convicted of setting the house on fire for the insurance money. Jurors ...

Unlicensed Minnesota Drivers Involved in More Fatal Crashes

The Minnesota State Patrol says unlicensed drivers are more likely to be involved in a deadly crash. Lt. Eric Roeske says statistics from ...
Southeast

Country's First Fortified Medical Office Opens in South Carolina

The first medical office in the nation to earn the Fortified for Safer Business designation is opening in Florence. The Pee Dee Nephrology ...

Georgia Govenor Names Gobeil to Workers' Compensation Board

Georgia Gov. Nathan Deal has appointed the wife of a high-ranking state official to the Board of Workers' Compensation. Deal released an ...

Florida Consumer Advocate Hits Use of Past Credit History to Deny Claims

Florida's consumer advocate is calling for an investigation into insurers using homeowners' past credit history to deny claims and cancel ...
South Central

Henderson Named Deputy Commissioner of Consumer Advocacy in Louisiana

Commissioner of Insurance Jim Donelon announced that Ron C. Henderson has been appointed Deputy Commissioner of Consumer Advocacy for the ...

Driver of Oil Pipe Truck Charged in Arkansas Death

The driver of an oil field truck has been charged with negligent homicide for the death of a 95-year-old woman who was killed when she ...

Texas Declares 'War on Hail' with Mitigation Symposium

The Texas Department of Insurance is declaring "War on Hail" with a symposium to be held in Irving on Nov. 27. The department noted that ...
West

L/P Insurance Services Taps Bolce in Northern California

Reno, Nev.-based L/P Insurance Services Inc. named John Bolce managing shareholder of Northern California Operations. Bolce will be ...

MGIS Names Ririe in West

Salt Lake City, Utah-based The MGIS Companies Inc. named Matthew B. Ririe regional vice president of sales for group disability for the ...

Obama Approves Federal Flood Aid For Southern Utah

President Barack Obama signed a disaster declaration over the weekend for southern Utah areas hit by a severe storm and flooding in ...

Oregon Developer Told To Pay $1.6M In Asbestos Case

A developer whose plans to redevelop a sawmill in Sweet Home collapsed has pleaded guilty to accusations that he allowed an unlicensed ...

Dad Of Girl Killed In Colorado Theater Shooting Sues

The father of the youngest person killed in the Colorado theater shootings is the latest to file a lawsuit in federal court against the ...

Palmer Joins Griffin Underwriting Services in Washington

Griffin Underwriting Services named Merry Palmer a program broker. In this new position, Palmer will be responsible for program brokerage ...

PRIUM Names Hefner VP Of Business Development in Southern California

PRIUM, a workers' compensation utilization review and medical management company, has named Angela J. Hefner vice president of business ...
International

U.S. 'Fiscal Cliff,' Europe's Debt Woes Worry G20

Leading world economies pressed the United States on Sunday to act decisively to avert a rush of spending cuts and tax hikes, warning that ...

UK Drivers Poor Eyesight Costs $52.7 Million a Year Says RSA Report

A new report, commissioned by global UK-based insurer RSA, has found that road accidents caused by poor driver vision cost the UK an ...

Xchanging Unveils Plans for More Asian Expansion

Xchanging, the business process, procurement and technology services provider and integrator, has announced its intention to open new ...

Insurance Fraud Specialist Armour Group Concludes UK Sub Deal

 The Bermuda-based Armour Group announced that an affiliate has completed a majority investment in Armour Intelligence Limited, a UK-based ...

Zurich Names Hartigan as CEO Global Life for Pacific, Middle East

Zurich has announced the appointment of Mark Hartigan (49, British citizen), currently Head of Strategic Business Development Global Life, ...
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Big I's Bob Rusbuldt: Agents, the 2012 Election and the Fiscal Cliff

Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America,...
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Market Outlook: Stable But Not Robust

Calling today's market a "hard market" would be going too far, says Michael Miller, president...

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New Discussions in the Forums

Demand for Medical Payments
Posted: Mon Nov 5 -- Regarding "shannonwells830"'s comment, please note that most states are upholding the assault and battery exclusion, regardless of whether... Claimsman
Best Personal lines rates in CA
Posted: Sat Nov 3 -- Hello Jam! Just wondering if you re you looking for a Personal Lines Co. for Auto or Home (or both)? On the auto side right now Mercury and... PiP
CGL for Various Consumer Goods Importer - CA
Posted: Fri Nov 2 -- Does anyone have a CGL market for an importer of consumer goods. Some are private labeled some are not. Annual sales volume is $2,000,000.... InsureTime
CLAIMS
Posted: Fri Nov 2 -- It is all under public liabilities. Well the lessor is responsible for any... shannonwells830
Buying IA - Current Multiplier?
Posted: Wed Oct 31 -- There are so many variables! Agency Equity is right... hire a skilled professional that knows how to value the independent agency. Whenever... Swymmer
Premium Financing for life and D.I.
Posted: Wed Oct 31 -- I am looking for a premium finance company that will finance life and DI premiums. I have designed a niche Surplus Lines DI product that is... Swymmer
SEO and buying back links
Posted: Wed Oct 31 -- Buying links will not do any good in your site, with the big algo change in the past 6 - 9 months common link building techniques will only... johnywhite

Reader Comments

Wrongful Death Claims Filed In California Deputy Shooting
Posted: Thu Nov 1 -- Explain to me why his entire family is filing a "lawsuit" was he the sole provider for his family? How much money was he going to earn his... incognito
New York, New Jersey Want Washington to Pay More Storm Costs
Posted: Thu Nov 1 -- "They have greater resources. They can print money; we can't do that here. And given the fact this is not just a New York disaster,... youngin'
P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt
Posted: Wed Oct 31 -- Well, it's a good thing the NFIP is well funded, self-sustaining, and actuarially sound. youngin'
Insurance Agents and the 2012 Election: Interview with Big I CEO Rusbuldt
Posted: Fri Nov 2 -- "According to Rusbuldt, Romney proved to be "quite pragmatic" when he was governor of Massachusetts and he feels that Romney would be... DS
Insurer Drops Nebraska Man's Policy Due to Police Dog, Then Apologizes
Posted: Mon Oct 29 -- Can we be a little more creative with the headlines? "American Family takes on a dangdog expression, when officer howls about cancellation."... Original bob

Current Issue

November 5, 2012
Current Issue
Focus on Professional Liability / PLUS; Habitational / Dwellings; Agents' E&O Survey; Bonus: Free Ad Readership Study ($2500 Value); Bonus: The INDIANA Issue (Special Supplement)

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