Daily Headlines: Thursday, June 16, 2011

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June 16, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Bill to Update Small Insurers’ Tax Option Introduced in House Legislation has been introduced in the U.S. House of Representatives to adjust the tax code for about 600 small property/casualty insurance ... Allstate’s April-May Catastrophe Losses Top $2 Billion Allstate Corp., the largest publicly traded U.S. home and auto insurer, said it lost $2 billion in April and May from severe tornadoes and ... U.S. Industry Reserve Redundancy at $22 Billion: Aon Benfield The overall U.S. insurance industry reserve redundancy is $22.0 billion versus $21.9 billion at year-end 2009, after the industry released ... SEC Says Brokerage Fund Should Compensate Stanford Victims In a major victory for victims of Allen Stanford's alleged Ponzi scheme, U.S. regulators have concluded that they should be compensated by ... General Star Appoints Marsh US Consumer Administrator of Real Estate Programs Marsh U.S. Consumer, a service of Seabury & Smith, Inc., has been appointed the exclusive program administrator for General Star ... Willis North America Names Connolly to Head Executive Risks Team Willis North America has named John A. Connolly as practice leader for its Executive Risks unit. Connolly will be responsible for leading ... Ratings Recap: Lititz, Integon, Maiden, AmTrust, MLBA Mutual A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A+ (Superior) and issuer credit ... Commercial Auto Claims on the Rise - Are Rates Next? An increase in claims from cargo theft and freight physical damage is expected to lead to higher insurance rates in the commercial auto... More National News East New York City Police Pay More in Liability Claims Than Hospitals New York City paid nearly $521 million in personal injury and property damage claims in 2010 -- marking the first time in 30 years the ... Maine Jury Awards $6.7 Million in Hospital Malpractice Case A Maine jury has awarded $6.7 million to a woman whose husband died at Eastern Maine Medical Center following an all-terrain vehicle ... Providence Storm-Related Debris Pickup to End Work crews in Providence are scheduled to finish pickup of storm debris at the end of this week. The city announced on Monday that June 18 ... Fire Destroys Pennsylvania School District’s Buses About a dozen school buses are damaged or destroyed after a fire tore through the garage holding a northwestern Pennsylvania district's ... Hayes Named Chief Exec Deputy Director at NYSIF Dennis J. Hayes has been appointed chief executive deputy director of the New York State Insurance Fund (NYSIF). Hayes has 29 years ... More East News Midwest Nearly 10% of Health Insurers Leaving Indiana; State Seeks MLR Waiver Indiana Insurance Commissioner Stephen W. Robertson has announced he is seeking a waiver on behalf of Indiana from the federal Patient ... Ohio BWC: 7 Workers' Compensation Fraud Convictions in May Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephen Buehrer announced that seven individuals were convicted or pleaded ... Ohio Workers' Comp Bureau Caught in Pensions’ Currency Dispute Ohio Treasurer Josh Mandel has asked for a state investigation into whether banks may have manipulated foreign exchange rates charged to ... More Midwest News Southeast Tennessee Governor Signs Captive Insurance Law In a move that business groups say could change the risk management operations of many corporations, Tennessee Governor Bill Haslam signed ... Alabama Lumber Company Faces $2 Million in OSHA Fines The Occupational Safety and Health Administration is issuing 13 citations and $1,939,000 in fines to a Phenix City, Alabama lumber yard for ... North Carolina Police Ticket 12,000 Motorists in 2 Weeks North Carolina's transportation secretary said more than 12,000 drivers and passengers were cited for seat belt and child passenger safety ... Ox Bonding Expands into Florida with Specialty Bonding Programs Ox Bonding has expanded its specialty bonding programs into Florida. Ox Bonding's affiliate insurance carrier, Upper Hudson National ... More Southeast News South Central Explosions Rock Louisiana Chemical Plant; No Injuries A fire at a plant in Louisiana's Iberia Parish where chemicals are blended and stored for oilfield operations forced area residents to ... Endris Joins Mullis Newby Hurst Addison, Texas-based Mullis Newby Hurst L.P. (MNH), which writes construction insurance and surety bonds throughout the Southwest, ... WSS, WestPro Insurance Raise $25K for Susan G. Komen Foundation Kyle Stevens, president and CEO of Western Security Surplus Insurance Brokers (WSS) and Dallas-based WestPro Insurance Services, has ... More South Central News West Wash. Governor Signs Workers’ Comp Reform Measure Washington employers who provide temporary work that allows an injured worker to "Stay at Work" while recovering from an injury will be ... Lawsuit Filed by Family of Drowned Utah Boy The family of a Utah boy who drowned after he fell from a pipe spanning a Salt Lake City canal in 2009 has filed a wrongful death lawsuit ... Washington Court: OK to Terminate Employee for Medical Marijuana Use A Washington Supreme Court has ruled that it is OK for an employer to terminate an employee for violating its no drug policy, even though ... More West News International Aon Benfield Reports 6% Decline in Global Reinsurers’ Capital Aon Benfield has launched the latest edition of its Aon Benfield Aggregate (ABA) report, which analyses the financial position of the ... Catlin Re Switz. to Open Madrid Office; Augments Underwriting Staff Catlin Re Switzerland, the continental European reinsurer of the Bermuda-based Catlin Group Limited, announced that as of July 1, 2011, it ... Porrino to Join XL Group as Executive VP, CFO  The XL Group plc has announced the appointment of Peter R. Porrino as Executive Vice President and Chief Financial Officer. He will join ... Best Affirms Lufthansa Captive Insurer Delvag’s Ratings A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of 'A-' (Excellent) and issuer credit ratings of ... Guernsey Seminar on Solvency II Assesses Rejection of ‘Equivalence’ Insurance professionals from the UK and Guernsey were told of the benefits that could result from the Island's stance on Solvency II. ... S&P Lowers, Withdraws Ratings on First Takaful Standard & Poor's Ratings Services lowered its counterparty credit and financial strength ratings on Kuwait's First Takaful Insurance ... More International News Join the Insurance Journal Network Insurance Journal TV Consolidation Nation The big state agency that oversees insurance producers in New York State will soon become a... Watch Now Markets in Motion: Medi-Spa The anti-aging market has become more sophisticated, more profitable and more risky. From... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Astonish Results or Squid Posted: Thu Jun 16 -- Astonish Results advertises every where, but it is quite pricey for a small agency. They have a stripped down version called Squid. Does... JayRob Party bus limo In CA Posted: Wed Jun 15 -- Im looking for coverage for a new venture in CA ( previously owned and ran other co out of state for 25 years) Party busses and bus charter... JAM SEO and buying back links Posted: Wed Jun 15 -- I would agree with the SEO argument. The most important thing for me has been having a strong Google Local Listing page that consistently... amcpeake Aviation carriers and MGAs Posted: Wed Jun 15 -- Looking for MGAs that work in the aviation industry. We are looking to Transfer several accounts this year assuming MGA service good and... CIScommercial Has technology helped you downsize your office? Posted: Wed Jun 15 -- I like your posts My agency is too small.. we never had to downsize.. 'cuz we only had 4 people workin! But with the software we have.. the... meytai National Agents Alliance? Legit or Keep Away? Posted: Wed Jun 15 -- I've been licensed in Life, Health and Variable in Ohio for 8 months now, all with the same Fortune 500 company, and I've made money in the... BriceNaylor Virginia Property and Casualty HELP!!!!!! Posted: Tue Jun 14 -- There is no quick fix. Sign up for the test, and see if you pass. perhaps enough has sunk in...but probably not. jtownagent Ethical Problem - Please help! Posted: Wed Jun 8 -- CSP is correct. We had an ex-employee get into our computer system, delete her file and then claim that we never paid her vacation pay. Our... justthere Go to Forums Reader Comments Tennessee Jury Awards $200K in Bullying Case Posted: Mon Jun 13 -- The behavior decribedin this article goes far beyond "bullying." The boys who engaged in this behavior need professional intervention, so... Erzy Massachusetts Family Sues Following Boy's Escalator Death Posted: Fri Jun 10 -- The "gap" is irrelevant. The root cause is parental negligence and the parents should be charged. Nobody should allow a 4 year old child to... Jester Florida Homeowners to Share $55 Million in Chinese Drywall Settlement Posted: Tue Jun 14 -- Interesting how a US company gets sued, a German company might be getting sued and probably will, but the makers of the drywall, China,... Baxtor Lawyers for Obama, 26 States Square Off Over Healthcare Law Posted: Thu Jun 9 -- Lawyers for Obama? Lawyers for the States? Where are the lawyers for the people? Holy smokes! 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