Nov 6, 2012

Daily Headlines: Tuesday, November 6, 2012

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Insurance Journal Daily Headlines
November 6, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Sandy Exposed Hospitals' Lack of Disaster Preparedness

Kim Bondy was in New Orleans seven years ago when Hurricane Katrina devastated the city, and scores of patients died in flooded hospitals ...

Supreme Court to Hear Comcast, Amgen Cases on Class Action Limits

The U.S. Supreme Court considered appeals by Comcast Corp. and Amgen Inc. that could help determine what kind of evidence must be presented ...

Displaced Rats Among 5 Dangers for Superstorm Sandy Cleanup Workers

Hurricane Sandy has affected millions of people and businesses and will result in billions of dollars in damage. According to insurance ...

Personal Lines Insurance Prices Stable For Now, Before Sandy's Effects: MarketScout

The personal lines market in the U.S. was stable in October. Rates increased modestly at plus 3 percent, about same as in September, ...

P/C Insurance Editor Sclafane Joins Wells Media Group

Susanne Sclafane has joined property/casualty insurance media company, Wells Media Group, as Senior Editor. In her new position, Sclafane ...

Berkley Technology Underwriters to Offer International Coverage Through Lloyd's

Berkley Technology Underwriters, LLC, a Minneapolis-based global technology underwriter, has been accredited as a Coverholder on behalf of ...

From MyNewMarkets.com P/C Insurance Editor Sclafane Joins Wells Media Group

Susanne Sclafane has joined property/casualty insurance media company, Wells Media Group, as Senior Editor. In her new position, Sclafane...
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East

N.Y. Gov. Cuomo Eases Insurance Rules for Documenting Storm Damage

New York Gov. Andrew Cuomo said Monday, Nov. 5, that he is ordering insurance companies to ease rules on documenting Sandy-related damages ...

Sandy Claims Figure Update From State Farm, Nationwide

Sandy-related claims are coming in at a fast pace, major insurers say. State Farm Insurance said it received approximately 81,400 ...

MetLife to Sell Mortgage Service Unit , Focus on Insurance Operations

MetLife Inc. is selling its $70 billion mortgage servicing business to JPMorgan Chase & Co. for an undisclosed price. MetLife said last ...

Attorney's Advice to Insurers on Reducing Class Action Exposure Post-Sandy

A veteran attorney who spent several years defending insurance companies in lawsuits from Hurricane Katrina is offering advice to insurers ...

Con Edison: 156,800 Customers in N.Y. Region Still Without Power

Consolidated Edison says power has been restored to more than 80 percent of its customers who were blacked out in the storm. The utility ...

Nor'easter Headed to N.J., N.Y., May Complicate Sandy Recovery Effort

The National Weather Service said a nor'easter with wind gusts up to 50 mph is expected to hit the New Jersey, New York coastal region on ...
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Midwest

Marsh & McLennan Agency Acquires Howalt+McDowell Insurance

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., announced it has acquired Howalt+McDowell Insurance Inc., ...

Risk Innovations to Acquire Work Comp Business of TAS Insurance Group

Atlanta, Ga.-based Risk Innovations LLC announced it will acquire the workers' compensation book of business of TAS Insurance Group Inc., ...

Morrison Appointed Chief Legal Officer at Ohio Workers' Comp Bureau

Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Steve Buehrer has appointed Sarah Morrison as chief legal counsel. Morrison ...

Lockton Companies' Osborne Elected to Council of Society of Actuaries

Sarah Osborne, assistant vice president and healthcare actuary at Lockton Benefits Kansas City, was recently elected to the Management and ...
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Southeast

Ruling Could Cost Georgia Firm $459 Million for Junk Faxes

The Supreme Court of Georgia ruled against a company accused of partnering with a Texas firm to send more than 300,000 junk faxes to metro ...

University to Study Safety Practices at Kentucky Horse Farms

A University of Kentucky professor has received a $1.4 million grant to conduct a multiyear study of health and safety practices of the ...

Citizens Shed 150K Policies in October

Officials at the Citizens Property Insurance Corp. say nearly 150,000 of its policyholders were assumed by five smaller insurers in October ...
South Central

Texas Sees Reduction in Average Cost of Work Comp Claim

The average cost of a workers' compensation claim in Texas declined recently, following several years of growth, according to a new study, ...

Insurance Commissioner: Auto Theft Declines in Louisiana

Louisiana Commissioner of Insurance Jim Donelon reported that the number of vehicle thefts in Louisiana has declined nearly 42 percent over ...

Anti-Lawsuit Groups, Lawyers Fueling Texas Races

Millions of dollars have been pumped into typically low-spending Texas Legislature races in recent weeks by groups hoping to limit the ...

Newspaper: Texas' Oversight of Compounded Drugs Falling Off

Budget cuts have reduced the number of pharmacies in Texas whose compounded drugs are tested in a state program that's aimed at ensuring ...
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West

IDP Holdings Acquires NSU's Hospitality Program in Washington

IDP Holdings LLC acquired the hospitality business of National Specialty Underwriters Inc., a Bellevue, Wash.-based specialty commercial ...

CBIZ Buys Leavitt Pacific's Employee Benefits in California

Cleveland, Ohio-based CBIZ Inc. has acquired the employee benefit division of Leavitt Pacific Insurance Brokers Inc. of Campbell, Calif. ...

Ex-Van Gilder Insurance CEO in Colorado Takes Leave Of Absence

The former chief executive of Colorado-based Van Gilder Insurance Corp. who is charged with five counts of insider trading is taking an ...

Researchers Still Learning About 2002 Alaska Earthquake

The Denali Fault earthquake only rumbled for about 3 minutes when it shook Interior Alaska a decade ago, but some of the reverberations of ...

California's Prop. 33 is Bomb-Tossing Battle to the End

Attack, attack and attack again. That's been the modus operandi of each side in the Proposition 33 campaign, an initiative on the ...

EPIC Adds Willian to Northern California Construction Practice

San Francisco, Calif.-based Edgewood Partners Insurance Center named Neil Willian as an account executive to its Northern California ...
International

Zurich/Advisen Poll Finds Cyber Risk Awareness Increasing

A note from Zurich Insurance indicates that the "vast majority of risk professionals say information security and other cyber risks are at ...

Hannover Re Sees Little Sandy Impact; Raises Profit Forecasts

Hannover Re does not expect to be blown off course by damage from Hurricane Sandy in the United States, the German reinsurer said on ...

Berkley Technology to Cover U.S. Tech Business through Lloyd's

Berkley Technology Underwriters, LLC, a Minneapolis-based global technology underwriter and part of the W.R. Berkley Group, announced that ...

Hub International Acquires Canada Broker Huestis Commercial Insurance

Chicago-based Hub International Limited announced that it has acquired the shares of Huestis Commercial Insurance Ltd. (HCIL), a Saint ...

Xchanging Speeds up London Market BI Recovery - 24 Hours to 15 Minutes

 Xchanging, the business process, procurement and technology services provider and integrator, announced that "following a series of ...

Aon Benfield Launches Swiss Flood Model w/ Latest Hazard Data

Aon Benfield, Aon's global reinsurance intermediary and capital advisor, has launched a new flood model for Switzerland and Lichtenstein to ...
Secrets of insuring restaurants webinar from Academy of Insurance

Insurance Journal Blogs

Blurry Logos Look Bad! Here's How to Keep 'em Crisp in Print

A catchy headline, a compelling message, and a clear call to action are all vital components of an effective print ad. However, it's ...

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Insurance Journal TV

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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

Creating a business plan
Posted: Mon Nov 5 -- A business plan is just a starting point. You mention wanting to have "measured growth". I was at the same point, almost exactly as you, 5... Swymmer
MKNI Commissions
Posted: Mon Nov 5 -- MKNI Commissions...do they pay you on time after they send you the email if your commissions exceed $500.00? Every month I get the email... mb95207
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
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

Reader Comments

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'
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'
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
Florida Consumer Advocate Hits Use of Past Credit History to Deny Claims
Posted: Sun Nov 4 -- Another black eye for the Florida insurance industry. Universal shouldn't be allowed to deny a claim based on credit if they forego running... Arthro

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November 5, 2012
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