Daily Headlines: Wednesday, December 7, 2011

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December 7, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Supreme Court to Hear Personal Medicine Patent Dispute The Supreme Court hears arguments on Wednesday over whether Prometheus Laboratories may patent instructions for observing changes in a ... Graduated Driver Licensing Could Save 2,000 Lives, $13.6 Billion: Study If all states implemented comprehensive graduated driver licensing (GDL) laws, an estimated 2,000 lives could be saved. Further, if all 50 ... GM Close to Possible Volt Battery Fires Fix General Motors Co. is closing in on a package of proposed fixes for the Chevrolet Volt battery pack that engineers believe would eliminate ... Markel to Acquire Program Administrator Thomco Richmond, Virginia-based specialty insurer Markel Corp. is acquiring Thompson Insurance Enterprises, a national program administrator that ... P/C Insurers Lost 900 Jobs in October, Labor Department Data Shows Property/casualty insurers lost 900 jobs overall in October, according to latest government data. But insurers in other segments did ... Best Downgrades Wisconsin Re’s Ratings; Revises Outlook to Negative A.M. Best Co. has downgraded the financial strength rating to 'B+' (Good) from 'B++' (Good) and issuer credit ratings to "bbb-" from ... Ryan Specialty Announces New Transactional Liability Facility A subsidiary of Ryan Specialty Group will administer a new transactional liability and tax insurance facility after entering new trading ... Greenberg Honored for China-U.S. Relations The China General Chamber of Commerce – U.S.A. has honored Maurice R. Greenberg for his contributions toward U.S. and China exchanges. ... Conning Names Bradford CEO Conning Inc. has apppointed Woody E. Bradford as CEO of Conning. The appointment takes effect Jan. 2, 2012. Bradford succeeds Salvatore ... 5Star Specialty Programs Expands Auto Dealer Product 5Star Specialty Programs has expanded its Auto Dealers program to 43 states. With these new markets, the coverage is nationwide, except in ... Data Breaches in Healthcare Industry Lead to New Coverages Insurance carriers are seizing opportunities in the healthcare industry, where huge data security breaches appear to be happening on a... More National News East Travelers CEO Says His Company’s Business Insurance Rates Up Over 5% The Travelers Companies CEO Jay Fishman said at a financial conference yesterday that his company raised rates for business insurance ... $5M in Aid Approved for Louisa County, Virginia, Quake Victims Federal disaster aid approved for earthquake-related damage in Louisa County has topped $5 million. Federal and state emergency officials ... CNA Appoints Commercial Underwriting Officer in Boston CNA Financial Corporation appointed Charles O'Donnell as commercial underwriting officer for its Boston branch office. In this position, ... Strategic Insurance Agency Alliance Adds Six Member Agencies in East The Strategic Insurance Agency Alliance (SIAA) added six new member agencies in the East region in November. The new member agencies are: ... More East News Midwest New Study Pushes Tougher Iowa Teen Driving Rules A new study says tougher restrictions on Iowa's teenage drivers could have saved the lives of 32 young drivers in 2009. The Des Moines ... Ambrose Joins Hylant Group's Executive Risk Practice in Chicago Privately owned insurance brokerage firm Hylant Group, headquartered in Toledo, Ohio, has added Lynn Ambrose to its executive risk ... Longueil Named Sales Executive at Risk Sciences Group in Illinois Office Risk Sciences Group, a provider of risk management information systems (RMIS) and related analytics services, has named Kathy Longueil ... SIAA Signs 5 Agencies in Midwest The Strategic Insurance Agency Alliance (SIAA) in November added five new member insurance agencies located in the Midwest. Nationally, the ... More Midwest News Southeast Florida Agents Concerend About Homeowners Choice Contract Independent agents in Florida are concerned that an appointment contract offered by a Florida homeowners insurer that recently assumed ... Firm to Pay $209M Over West Virginia Blast That Killed 29 Coal miner Alpha Natural Resources has agreed to pay $1.5 million to each of the families of 29 miners killed in an explosion at the Upper ... South Carolina Court Throws Out Claims Over Softball Game Injury People playing contact sports assume the risk they will be injured, South Carolina's Supreme Court ruled this week, upholding a lower ... Florida’s Citizens Insurance Says Legislation Needed for Real Change Florida's largest homeowner insurer is offering a slate of coverage changes, but concedes that without legislative changes there will be ... More Southeast News South Central Texas Insurance Fraud Prosecutor Receives National Award Kyson Johnson, Texas' only dedicated insurance fraud prosecutor, has been named 2011 Prosecutor of the Year by the Coalition Against ... SIAA Adds 2 South Central Agencies The Strategic Insurance Agency Alliance (SIAA) in November added two new member insurance agencies from South Central states. Nationally, ... Risk Sciences Adds McCalister as Sales Executive in Dallas Risk Sciences Group, a provider of risk management information systems (RMIS) and related analytics services, has named Cal McCalister ... More South Central News West Risk Management Agency Starts Olive Program in 12 California Counties The U.S. Department of Agriculture's Risk Management Agency on Wednesday announced a new pilot insurance program for table and oil olives ... Statewide Expands into Washington with Contractor Insurance Services Statewide Insurance Brokers, a provider of contractors insurance for general liability, workers compensation, commercial vehicle coverage ... Festa Named Vice Chair of California Insurance Guarantee Association Board Stephen V. Festa, senior vice president and chief claims officer for Employers Insurance Company has been named vice chair to the board of ... Statewide Brings Contractors Coverage to Washington Statewide Insurance Brokers has expanded its coverage for contractors into the state of Washington. The company plans to enter the state ... Abacus Selects Golden Bear to Back Earthquake Program Golden Bear Insurance Company will be the carrier for an online residential earthquake deductible buyback program from Abacus Insurance ... More West News International Lloyd’s Report Finds Customer Loss, Staff Shortages as Business’ Top Fears Losing customers and struggling to find talented workers are the top two risks facing business leaders across the world, according to a new ... Latest Analysis Concludes Foreign Insurers Missing Out on China Party Ten years ago, foreign insurers were lining up to celebrate China's entry into the World Trade Organization, eager to tap what was certain ... Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers Aon Benfield's Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that ... Natural Disaster in China Would Severely Disrupt Global Supply Chains A natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply ... Chinese Court Rejects Apple Lawsuit over iPad Name A court in southern China has rejected a lawsuit by Apple Inc, accusing a Chinese technology company of infringing its iPad trademark, a ... Ratings Recap: China Taiping (NZ), Ansvar (NZ), Nationale Suisse A.M. Best Co. has affirmed the financial strength rating of 'B++' (Good) and issuer credit rating of "bbb" of China Taiping Insurance ... More International News Join the Insurance Journal Network Insurance Journal TV Swiss Re Chief Economist Analyzes Current Market Conditions Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces,... Watch Now Interesting Times in Medical Liability The medical liability market continues to perform well even as the nation struggles to... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums High Value Personal Auto Posted: Mon Dec 5 -- Chubb does write monoline auto. Their rates are high on regular vehicles but for high value vehicles, they are good. debbie Batch Clause undre Products Liability Posted: Fri Dec 2 -- Submit the claim to both insurance carriers and let them figure it out. That's their job. Big Dog QuickBooks Posted: Thu Dec 1 -- I have used QB online for 12+ years for agency bill, direct bill, payroll, CC acceptance etc. The ease of use, accessible from anywhere via... mhutch69 How do you ask for a referral? Posted: Thu Dec 1 -- I read an article recently that posed the question 'Are you a referral wimp?'. It went on to list the common excuses for not asking for a... FactsofLife Go to Forums Reader Comments Iowa Man Won't Get $10.6M Malpractice Award Posted: Mon Dec 5 -- haha...holy crap. if you need more evidence that our judicial system is broken, please read that article again. #1, guy gets insane... George Geithner Hits Attempts to Weaken Wall Street Reforms Posted: Thu Dec 1 -- Geithner has ZERO credibility since He was appointed. Anyone that overlooks paying $35,000 in taxes has no business being involved in... Steve Shults Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K Posted: Wed Nov 30 -- "John Cornish told the Ravalli Republic for a story published Monday that people should know riding a bike at night in winter is a little... Always Amazed Insurance Groups React to Rep. Barney Frank's Retirement Announcement Posted: Wed Nov 30 -- Fwank should be in jail. Realist Attorney Says Man Innocent in Wal-Mart Incident, May Sue Posted: Fri Dec 2 -- It isn't shoplifting unless you leave the store with it. I've seen little old ladies use their purses to carry things around to free up... DD72 Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Program Directory, Vol. II - Volume Two of the Agent's Favorite Program Placement Resource December 5, 2011 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Underwriting/Claims Trainer Agency Bill Accounting Supervisor Commercial P & C Broker/Producer Auto Damage and Truck Appraiser Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2011 by Wells Publishing, Inc.

Daily Headlines: Tuesday, December 6, 2011

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December 6, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National BP Accuses Halliburton of Destroying Gulf Spill Evidence BP Plc accused Halliburton Co. of destroying evidence that the oilfield services company did inadequate cement work on the Gulf of Mexico ... Healthcare Execs Facing ‘Responsible Corporate Officer’ Strict Liability After decades in relative obscurity, a U.S. legal doctrine that holds corporate officers liable for company wrongdoing is finding its way ... U.S. Power Grid Needs Cybersecurity Protection: MIT Report The threat of cyberattacks on the U.S. power grid should be dealt with by a single federal agency, not the welter of groups now charged ... Western Heritage Creates Garage Division Western Heritage Insurance Company has introduced a garage division to help the company grow its garage offerings and partner with new ... How to Prepare for the Changing Market In today's personal property/casualty insurance market, agents and brokers face increasing uncertainty. Staying the course is no longer an... More National News East Ernst & Young Sued for $900M Over Madoff Audits Ernst & Young LLP has been sued for $900 million by the liquidators of a fund that once funneled money to the now-imprisoned swindler ... Hartford Financial to Sell Life Private Placement Unit for $117.5M Hartford Financial Services Group is selling all assets of its Hartford Life Private Placement unit to Philadelphia Financial Group Inc. ... Connecticut Probes Fraud in Post-Irene Food Aid Program Scores of Connecticut residents, including some state workers, might have requested and received federal emergency money to replace spoiled ... Marsh & McLennan Agency Hires Executive VP for N.Y., Conn. Region Marsh & McLennan Agency, a subsidiary of insurance broker Marsh Inc. appointed John Sames as regional executive vice president of its New ... William Gallagher Associates in Boston Announces Promotions William Gallagher Associates, a broker and risk management services provider, promoted Paula Cabral, Karen Cangemi and Meredith McCabe to ... Professional Insurance Women’s Group Announces Award in Connecticut Kimberly Latka, a claims specialist at S.H. Smith & Company Inc. in Hartford, Conn., was recently honored with the Statewide Claim ... More East News Midwest Minnesota Workers' Comp Insurer Joins Big 'I' Trusted Choice Program The Independent Insurance Agents & Brokers of America (IIABA or the Big "I") announced that Minnesota-based workers' compensation ... Health Claim Denials Top Ohio Insurance Complaints A newspaper's analysis shows the most common complaints received by the Ohio Department of Insurance come from people who had health claims ... Insurance Company Liquidation Paying $4.1 Million to Ohio Consumers Ohio Lt. Governor and Department of Insurance Director Mary Taylor announced the successful completion of The Physicians' Assurance Corp. ... More Midwest News Southeast Floridians Would Pay More to Shore-Up Cat Fund: Survey A new survey finds that 70 percent of Floridians fear being assessed hundreds or thousands of dollars in "hurricane taxes" because the ... Drug Enforcer Anderson Named Florida's Insurance Fraud Investigator Florida Chief Financial Officer Jeff Atwater has named Daniel Anderson to serve as the state's lead insurance fraud investigator. ... More Southeast News South Central Great American Insurance Acquires 2 Texas Workers’ Comp Firms Great American Insurance Group, headquartered in Cincinnati, Ohio, announced it is acquiring Dallas, Texas-based Employers Comp Associates ... TWFG Buys Heartland Marketing Group The Woodlands Financial Group (TWFG) a large privately held insurance organization headquartered in The Woodlands, Texas, announced it has ... Louisiana Insurance Fraud Fugitive Held A former Baton Rouge, La., man who once faked his death to elude authorities must remain in custody until more hearings in his case. The ... More South Central News West Utah Prepares for Spring Flooding After coming out of this year's spring flooding with damage limited mostly to Utah farmlands, state and county officials are beginning ... More Strong Winds May Cause Damage In Southern California on Tuesday The National Weather Service is issuing a continued strongwind advisory for Southern California though the afternoon on Tuesday, with winds ... RiskPoint Insurance Advisors Launches in Oregon RiskPoint Insurance Advisors LLC on Tuesday launched as a full service commercial insurance agency serving clients nationwide. ... Contractor Scams Emerge Amid Utah Windstorm Damage Utah state officials are warning of scams after getting reports of unlicensed contractors trying capitalize on damage from last week's wind ... Parasite Found In Utah’s Strawberry Reservoir The Utah Division of Wildlife Resources has discovered a potentially deadly parasite to fish in one of the state's most popular trout ... More West News International Fleet of Ferraris Ruined in Japan Sportscar Pileup An outing of luxury sportscar enthusiasts in Japan ended in an expensive freeway pileup -smashing a stunning eight Ferraris, a Lamborghini ... Swiss Re sigma Report Highlights Progress in P/C Product Innovation A new sigma report, "Product innovation in non-life insurance," from Swiss Re underscores the conclusion that there's "much more to ... Panel Urges Legal Action in Damning Report on Japan’s Olympus An independent panel urged legal action against executives who covered up a $1.7 billion accounting scandal at Japan's Olympus Corp, and ... Swiss Re Estimates Thai Flood Claims at $600 million; Subject to Uncertainty Swiss Re has estimated its claims costs from severe flooding in Thailand at $600 million, after intense rainfall caused hundreds of deaths ... RSA Names Slingsby Global Program Director-Global Specialty Lines RSA announced the appointment of Steve Slingsby as Global Program Director for Global Specialty Lines (GSL). He will work closely with the ... Starr Sets up Global Casualty Practice Starr Companies has formed a Global Casualty Insurance Practice to provide underwriting for Starr's general casualty insurance products. ... Zurich Backs Global Trade Finance Program Expansion Zurich's North American Credit and Political Risk group has joined eight other insurers to underwrite a trade credit policy that will ... More International News Join the Insurance Journal Network Insurance Journal TV Swiss Re Chief Economist Analyzes Current Market Conditions Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces,... Watch Now Interesting Times in Medical Liability The medical liability market continues to perform well even as the nation struggles to... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums High Value Personal Auto Posted: Mon Dec 5 -- Chubb does write monoline auto. Their rates are high on regular vehicles but for high value vehicles, they are good. debbie Batch Clause undre Products Liability Posted: Fri Dec 2 -- Submit the claim to both insurance carriers and let them figure it out. That's their job. Big Dog QuickBooks Posted: Thu Dec 1 -- I have used QB online for 12+ years for agency bill, direct bill, payroll, CC acceptance etc. The ease of use, accessible from anywhere via... mhutch69 How do you ask for a referral? Posted: Thu Dec 1 -- I read an article recently that posed the question 'Are you a referral wimp?'. It went on to list the common excuses for not asking for a... FactsofLife Go to Forums Reader Comments Massachusetts Enacts Law on Credit Ban for Auto Insurance Posted: Tue Nov 29 -- "much-needed protection against an unfair, unreliable, and discriminatory rate-setting practice" Unpopular, yes, but the correlation exists... GL Guru Geithner Hits Attempts to Weaken Wall Street Reforms Posted: Thu Dec 1 -- Geithner has ZERO credibility since He was appointed. Anyone that overlooks paying $35,000 in taxes has no business being involved in... Steve Shults Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K Posted: Wed Nov 30 -- "John Cornish told the Ravalli Republic for a story published Monday that people should know riding a bike at night in winter is a little... Always Amazed Insurance Groups React to Rep. Barney Frank's Retirement Announcement Posted: Wed Nov 30 -- What a surprise, that the insurance lobbyists praise Frank one of the most incompetent regulators of all time. Frank allowed the financial... Systemic risk Iowa Man Won't Get $10.6M Malpractice Award Posted: Mon Dec 5 -- haha...holy crap. if you need more evidence that our judicial system is broken, please read that article again. #1, guy gets insane... George Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Program Directory, Vol. II - Volume Two of the Agent's Favorite Program Placement Resource December 5, 2011 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Underwriting/Claims Trainer Agency Bill Accounting Supervisor Commercial P & C Broker/Producer Auto Damage and Truck Appraiser Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2011 by Wells Publishing, Inc.

Understanding Commercial Property Underwriting and "COPE"

Having trouble reading this email? View it as a webpage. Not interested anymore? Unsubscribe instantly. Understanding Commercial Property Underwriting and "COPE" (A 2-Part Series) For nearly 300 years, real property underwriters have been using the same four basic elements of underwriting data: Construction, Occupancy, Protection and Exposure ("COPE"). Each of these four basic data points plays an important part in the property underwriting process. This two-part series offers a unique perspective of each of these data points. Anyone writing property insurance will benefit from this class. Part 1: Thursday, Dec. 8 Part 2: Thursday, Dec. 15 Time: 1:30pm ET / 10:30am PT Duration: 1 Hour Click Here to Register What you will learn in this webinar: Construction: Students will learn how to determine the property construction class (1-6); why size matters; and how age affects the underwriting decision. We will also discuss mixed-construction issues. Occupancy: In addition to occupancy issues, how a particular insured's hazards associated with occupancy will be discussed. Protection: Sprinkler systems, fire extinguishers, alarm systems, fire doors and fire walls and public fire protection are the primary protection mechanisms evaluated by underwriters. The basics of each are discussed in the class. Exposure: What external factors affect the insured property? Some of these exposures are discussed in this section of the course. When you register, you get: Access to the live webinar Video and audio recordings, so you can watch or listen again Question & Answer session with the instructor Audio download of the webcast Presentation slides download Join us this Thursday, December 8th and Thursday, December 15th for this two-part training webinar. (PLUS, all registrants will receive video and audio recordings of the webinar, so you can listen/watch again at your convenience.) Space is limited! Click Here to Reserve Your Spot! Regularly priced at $197.00, just $129 when you register today! (special pricing expires December 7th) Have questions or need help? Send an email to webcasts@insurancejournal.com or call Barbara at 800-897-9965 x166. Part One: Thursday, December 8 Part Two: Thursday, December 15 Time: 1:30pm ET / 10:30am PT Duration: 1 Hour Each Price: Save $68 until Dec. 7th! Register today for just $129! Click Here to Register Instructor: Chris Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS Director of Education at Insurance Journal's Academy of Insurance More Great Training: DEC 14: Business Auto Coverage Symbols and Mobile Equipment - This course is designed to improve participants understanding of the "symbols" and their appropriate use. In addition to reviewing the symbols, it will discuss some of the finer, less-obvious issues that make the difference between appropriate coverage and a coverage gap. JAN 25-27: Property Risk Insurance Specialist (PRIS) Course - The PRIS program was developed to allow agents, brokers, underwriters, risk managers and insurance buyers to gain specialized knowledge in managing and insuring property risks. The designation is designed to increase the expertise and competence of individuals who sell, underwrite or purchase property insurance. On-Demand: Beyond Basic Training for New Insurance Professionals - The Next Step in Professional Development (9-part Series) - Designed for those new to the insurance industry or those seeking professional improvement, this 9-part series places insurance in the context of risk management and the law (Classes run from 9/22 to 11/17). Send to a Friend | Contact Us | Subscribe | Unsubscribe | Privacy Policy Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2011 by Wells Publishing, Inc.

Insurance Journal TV: Swiss Re Chief Economist Analyzes Current Market Conditions

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December 6, 2011 Feature Video Swiss Re Chief Economist Analyzes Current Market Conditions Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces, focused on the current economic and political environment, low investment yields, the... Watch Now Popular Videos Catastrophes' Impact on the Market Don't Let the Bed Bugs Bite! Managing and Mitigating Bed Bug Exposures More Insurance Videos Watch InsuranceJournal.tv Subscribe to our iTunes Channel Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2011 by Wells Publishing, Inc.