Daily Headlines: Tuesday, December 28, 2010

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December 28, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG, Chartis Sign $4.3 Billion Credit Agreements Bailed-out insurer American International Group took another step toward winding down its U.S. government support Monday by securing $4.3... New Year's Day Top Working Holiday for Car Thieves While Americans are enjoying the holidays and most have time off from work, holidays are just another day at the shop for vehicle... Inspections Reducing Mine Safety Violations: U.S. Official Conducting special inspections to crack down on mines with poor safety records appears to be working, the federal Mine Safety and Health... Best Affirms Transatlantic Holdings and Subs 'A' Ratings of A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of new York-based... Ratings Recap: Allianz Global (US), Balboa Group, North Light, Heritage A.M. Best Co. has affirmed the financial strength rating of 'A+' (Superior) and issuer credit ratings of "aa" of Allianz Global Corporate... Top 5 Things Affecting Excess & Surplus Market in 2011 It has been a challenging few years for those in the excess and surplus (E&S) lines insurance market. An endless soft market, extreme... More National News East New York City Ponders Benefits of Pay As You Drive Insurance New York City is considering whether pay-as-you-drive auto insurance could reduce congestion and pollution in the Big Apple. The city's... Contractor's Blow Torch Starts $2M Fire at D.C. School Interim D.C. Schools Chancellor Kaya Henderson says damage to a northwest Washington school is severe after a three-alarm fire, and plans... Massachusetts Man Pleads Guilty in Fatal Staged Accident A former Lawrence, Massachusetts man who participated in a staged car crash that took the life of a 65-year-old grandmother has been... People's United Merges Its Insurance Agencies Connecticut-based People's United Bank said it will combine all of its insurance agencies into a single business entity — People's... More East News Midwest Michigan Township's Fight Over Cottage Costs Insurer, Taxpayers The resistance by one community in Michigan's rural Thumb to a couple's plans to renovate the Lake Huron shoreline cottage has led to an... Missouri Bank Sues Over Hacker A Springfield, Missouri escrow company has filed a lawsuit against BancorpSouth Bank, accusing the bank of failing to prevent a hacker from... More Midwest News Southeast Rates Rising But Florida Home Insurers Report Still Losing Money Many Florida homeowners expected relief from the higher property insurance bills that followed the busy 2004 and 2005 hurricane seasons. But... Another Freeze Hits Florida Citrus Growers An overnight freeze hit several central Florida citrus growing areas, icing up fruit and raising fears of damage to the leaves and small... Gay Miner Suing Massey West Virgina Unit Charges Harassment A gay coal miner is suing a Massey Energy Co. subsidiary, charging that management didn't protect him from abusive co-workers. The lawsuit... Brown & Brown Acquires Florida's Comcover Insurance Insurance broker Brown & Brown of Florida Inc. has agreed to buy to buy substantially all of the assets of Comcover Insurance Group... More Southeast News Texas / South Central Mistrial Ruled After Arkansas Doctor Accused of Malpractice Treats Juror An Arkansas medical malpractice lawsuit ended in mistrial in federal court in Jonesboro when the doctor being sued treated an ill juror in... More Texas / South Central News West 2010's Top Insurance Stories in the West In 2009, independent insurance agents and brokers faced a "perfect storm" with the economic downturn, premiums at a fraction of what they... California Storms Cause $10M in Damage; More Rain on Way The rains and snows that socked California for a week have eased for now but another storm is on its way. The National Weather Service said... Rowe Joins Gallagher Benefit Services of Washington Gallagher Benefit Services of Washington has added David S. Rowe to its Retirement Services consulting practice. Rowe brings more than 20... More West News International FACTBOX: 25 Ships and Crews Still Held by Somali Pirates Somali pirates have released the Marida Marguerite, a German-operated chemical tanker after receiving a $5.5 million ransom, the Kenya-based... Chartis Obtains $450 Million Cat Bond with Lodestone Re Chartis announced that it has entered into a reinsurance transaction with Lodestone Re, which will provide $450 million of protection to... Japan's Dai-ichi Life to Take over Australia's Tower Group for $1.2 Billion Japan's Dai-ichi Life Insurance Co said it would buy the shares it does not already own in Tower Australia Group Ltd for 99.6 billion yen... Best Europe Affirms 'A' Ratings of HDI, Gerling, Talanx Companies A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'A' (Excellent) and the issuer credit... Ratings Roudup: PMG (Sony), Qatar General, Al Ittihad A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit rating (ICR) of "a" of Bermuda-based PMG... More International News Join the Insurance Journal Network Insurance Journal TV 5 Tips to Break the Holiday Sales Slump The end of the year sometimes brings a sales slowdown to insurance agencies. Want help to bust... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Professional Employer Organization Posted: Tue Dec 28 -- Much will depend upon what classes of business this PEO handles, along with what REAL loss control and other claims mitigating services they... Big Dog Farmers Refuses to Pay Botched Auto Repair Posted: Mon Dec 27 -- If the body shop did a bad job, shouldnt you go after them instead of Farmers? Many carriers only guaranttee the works done in their... wariline Farmers E & O vs. UFAA Posted: Mon Dec 27 -- The argument they are giving is this.It would seem reasonable to the average person that if FGI knew that agents' folios would be short... Barnaby Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue 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 Account Manager - Palmer, AK Commercial Lines Account Manager Accounting Operations Manager - Plantation, FL 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 © 2010 by Wells Publishing, Inc.

Insurance Journal TV: Brand Camp Explores New Ways to Connect with Customers and Peers

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December 28, 2010 Feature Video Brand Camp Explores New Ways to Connect with Customers and Peers Take a bunch of insurance professionals, put them together a room to study marketing strategies and what do you get? Another boring seminar, right? Not at Brand Camp, where... Watch Now Popular Videos Harleysville Turns A Corner Social Media and Lawyers 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 © 2010 by Wells Publishing, Inc.

Daily Headlines: Thursday, December 23, 2010

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December 23, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG to Pay States $146 Million In Workers Compensation Settlement American International Group Inc. (AIG) has agreed to pay $146.5 million in fines and additional taxes to state insurance regulators for... Democratic Congress Productive But Unpopular Perhaps never before has a U.S. Congress done more and been liked less than the one controlled by President Barack Obama's Democrats that... New York Suit Against Ernst & Young Fills Regulatory Gap In choosing Ernst & Young as his target in the aftermath of the Lehman Brothers collapse, New York Attorney General Andrew Cuomo filled... Change the Holiday Slump to the New Year Jump Is the holiday season the slowest time for your agency? Do the distractions of the season take the focus off of identifying ways to grow the... Best Affirms Fireman's Fund Companies 'A' Ratings; Upgrades ICR A.M. Best Co. has upgraded the issuer credit ratings (ICR) to "a+" from "a" and affirmed the financial strength rating (FSR) of 'A'... Ratings Recap: Beazley (U.S.), Atradius Trade Credit, HDI-Gerling America A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Connecticut-based Beazley... 12 Days of Riskmas: An Insurance Broker's Story In giving her Christmas gifts for 12 straight days, a true love inspires his girlfriend to build a whole new life. It's a joyful story for... Arthur J. Gallagher Buys Wholesale Broker Continental, Marmorstein Arthur J. Gallagher & Co. said it has acquired wholesale insurance broker Continental Excess & Surplus, Inc., trading as... More National News East New York Agents Plan Court Appeal over Pay Disclosure Rules Two New York agents' groups said they have taken the first steps to appeal a decision by state court judge allowing state insurance... Insurance Year in Review: East Edition The touchy subject of agents' commissions dominated headlines in 2010 — particularly in New York where regulators unveiled new rules... USI Acquires Mastors & Servan in Rhode Island New York-based USI Holdings has closed on its acquisition of Mastors & Servant Risk Services, a Rhode Island-based brokerage that... Johnson & Strachan Names Venus as Principal Virginia-based agency Johnson & Strachan Inc., has named Charlie Venus as a principal and partner. He joined the firm in 2008 from... More East News Midwest An Improved Ohio Workers' Comp System Continues to Face Challenges The Ohio workers' compensation system is by all accounts in much better shape than it was in the dark days of 2007, when the Ohio Bureau of... RLI To Acquire Contractors Bonding Insurance Co. Peoria, Ill.-based RLI Corp. announcedthat it will acquire Contractors Bonding Insurance Co. (CBIC) through an acquisition of its holding... North Dakota Pushes for Graduated Driver's License Law Several North Dakota agencies have joined forces to support a bill aimed at reducing teen traffic accidents and deaths. The North Dakota... More Midwest News Southeast Southeast's Top Stories of 2010: Disasters That Happened and 1 That Didn't The top insurance stories in the Southeast in 2010 included several disasters that caused considerable death and destruction in the region... Two Jailed for Bribery in Katrina Insurance Case Released from Prison Former attorney Timothy Balducci and former state auditor Steven Patterson have been released from federal custody. U.S. Bureau of Prisons... More Southeast News Texas / South Central Insurers' Recent Success a Milestone in a Year of Chinese Drywall Litigation A federal judge in Louisiana recently let 10 insurance companies being sued by Louisiana homeowners over property damage resulting from the... LWCC Board Declares $22.5 Million Policyholder Dividend The Board of Directors of Louisiana Workers' Compensation Corporation (LWCC) has declared a 2010 dividend of $22.5 million, to be paid to... Oklahoma Legislator to Continue Push for Workers' Comp Reform An Oklahoma state representative says he's prepared to introduce legislation to further improve the state's workers' compensation system.... TSLA, IIAA Continue Tradition of Giving to Austin Food Bank The Independent Insurance Agents of Austin and the Texas Surplus Lines Association Inc. joined efforts recently to collect food and money... More Texas / South Central News West Insurance Industry Comes to the Rescue of North Pole Nick Just when you think you've seen and heard it all in the road-service business, along comes a call for road-side assistance that gives rise... Hundreds Victim to California Rainstorms Following a series of powerful storms that brought heavy, record-setting rain, snow and high winds to California, insurers report their... Hawaii Lists Auto Insurance Premium Comparison The Hawaii Department of Commerce and Consumer Affairs Insurance Division has posted its annual motor vehicle insurance premium... Arthur J. Gallagher & Co. Acquires Tribeca Strategic Advisors Itasca, Ill.-based Arthur J. Gallagher & Co.announced it has acquired Tribeca Strategic Advisors LLC located in Mesa, Ariz. Terms of... Peterson Named Minnesota Labor and Industry Commissioner Minnesota Governor-Elect Mark Dayton has appointed Ken Peterson to head the Department of Labor and Industry. Peterson brings public service... Heffernan Insurance Brokers Names Gailey Assistant VP in Portland Heffernan Insurance Brokers has added atthew Gailey in its Portland, Ore., office as assistant vice president. He will focus on property and... More West News International Catastrophes Top 2010 List of Major Global Insurance Events Natural and man-made catastrophes topped the list of the most significant events in 2010, with three major earthquakes, a near record number... Willis' FINEX National Strengthens VEAGIS for UK Property Experts FINEX National, which handles financial, professional and management liability insurance for clients of Willis Group Holdings, announced... WSJ Reports AIG Nearing Nan Shan Buyer Bailed-out insurer American International Group Inc is close to picking a preferred bidder for Taiwanese life insurer Nan Shan, the Wall... Ratings: Aspen, Allianz Risk Transfer, Inter Hannover UK, Transsib Re, Jordan Insurance Standard & Poor's Ratings Services has assigned its preliminary 'BBB+' senior debt, preliminary 'BBB' subordinated debt, preliminary... Best Assigns Rating to Allianz Risk Transfer AG A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'A+' (Superior) and the issuer credit... More International News Join the Insurance Journal Network Insurance Journal TV 5 Tips to Break the Holiday Sales Slump The end of the year sometimes brings a sales slowdown to insurance agencies. Want help to bust... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Hiring agents and CSR's Posted: Thu Dec 23 -- Since it appears you're in SoCal, there are probably plenty of well qualified account managers (CSR's) that are available. First, you need... Big Dog Farmers E & O vs. UFAA Posted: Thu Dec 23 -- Recently UFAA (United Farmers Agents) has been pushing their E & O against Farmers Insurance Group E & O. I don't like the hard sell that I... bartman Branding / Name recognition Posted: Wed Dec 22 -- I wanted to see if anyone else has run into the branding issue. We are located in sounthern CA were the usual suspects are strong. However,... JAM National Agents Alliance? Legit or Keep Away? Posted: Wed Dec 22 -- KEEP AWAY!!! I have only been with them 2 months, but they told me to stop asking questions. There is no training!! If it seems like MLM it... NewRecruit VA Educational benefits for Insurance designations Posted: Tue Dec 21 -- Hello Everyone, I am looking to apply for designation courses soon. But my question is specific to VA Eduactional benefits for veterans such... quotepro Farmers Insurance Posted: Tue Dec 21 -- When you say you, whom do you mean? The Current Agent? Exiting agent? Leaving client? Existing Client? Guess this popped up due to the CEO... FFA Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue 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 Account Manager - Palmer, AK Commercial Lines Account Manager Accounting Operations Manager - Plantation, FL 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 © 2010 by Wells Publishing, Inc.

Daily Headlines: Wednesday, December 22, 2010

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December 22, 2010 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National SPECIAL REUTERS REPORT: Inside AIG's Tortuous Turnaround During a rainstorm in Washington in early 2009, amid the furor over Wall Street's post-bailout bonuses, an American International Group... Top Brokers, Munich Re Pool Efforts to Expand Insurance for Oil Drilling The world's top three insurance brokers have joined reinsurer Munich Re to promote a major expansion in risk coverage for deepwater drilling... Health Insurers Face New Scrutiny Over Price Hikes U.S. health insurance companies that want to increase premiums by 10 percent or more next year would face tougher government scrutiny under... New York Suit Accuses Ernst & Young of Hiding Lehman Troubles Accounting firm Ernst & Young was sued by New York prosecutors over allegations it helped to hide Lehman Brothers' financial problems,... President Obama Expected to Sign Food Safety Overhaul Bill The ailing U.S. food safety system moved closer Tuesday toward its biggest overhaul in more than 70 years after the House passed legislation... 12 Days of Riskmas: An Insurance Broker's Story In giving her Christmas gifts for 12 straight days, a true love inspires his girlfriend to build a whole new life. It's a joyful story for... Industry Saw Profits Rise Through First Three Quarters of Year Property casualty insurers had a healthy growth level in after-tax profits, which stood at $26.7 billion through the first nine months of... Big "I" Markets and ARMR.Network Launch New Environmental Product The Independent Agents & Brokers of America Big "I" Markets launched a new insurance policy option with American Risk Management... Arthur J. Gallagher Buys Wholesale Broker Continental, Marmorstein Arthur J. Gallagher & Co. said it has acquired wholesale insurance broker Continental Excess & Surplus, Inc., trading as... More National News East Actor Falls on Set of Broadway's 'Spider-Man' The troubled Broadway musical "Spider-Man: Turn Off the Dark'' was plagued by its fourth accident since it began previews last month when an... Marsh Agency Buys Pennsylvania's Trion Marsh's retail agency business has acquired Trion Group Inc., the largest privately held employee benefits specialist in the United States... More East News Midwest Wisconsin Settlement with Time Insurance Co. Includes $280K Fine Wisconsin Insurance Commissioner Sean Dilweg announced a regulatory settlement with Time Insurance Co., a health insurer headquartered in... Ohio Teen Driver Law Linked to Drop in Crashes Nearly four-year-old restrictions on Ohio teen drivers get some of the credit for a drop in accidents on Ohio roads. The state Department of... Ohio Insurance Director Warns of Catalytic Converter Thefts Ohio Department of Insurance Director Mary Jo Hudson has issued a warning about a recent rash of catalytic converter thefts in Columbus and... Ohio Businessman Sentenced for Theft and Workers' Comp Fraud A Pickaway County medical equipment supplier was sentenced in early December on charges of theft and workers' compensation fraud. Marcus... More Midwest News Southeast Trial Ordered for Tennessee Trooper Claiming Politics Behind Demotion A federal appeals court has ruled a jury will hear complaints from a Tennessee highway patrolman who claimed discrimination based on his... Alabama Tornado Survivors Still Coping 10 Years Later Whitney Crowder doesn't remember the day her father died. What happened Dec. 16, 2000, has gone down in state history: Eleven people,... More Southeast News Texas / South Central 2 Years After Ike Texas Coastal Residents Still Filing Claims Windstorm claims from Hurricane Ike continue to be reported more than two years after the storm made landfall. The Texas Windstorm Insurance... Louisiana Citizens Receives Rating Upgrade Louisiana Insurance Commissioner Jim Donelon announced that Moody's Investors Service has upgraded the Louisiana Citizens Property Insurance... More Texas / South Central News International Zurich Signs Exclusive Distribution Agreement with Fortis for Turkey Zurich Financial Services Group announced that its Turkish subsidiary Zurich Sigorta A.S. has signed an agreement with Fortis Bank A.S. for... Catlin Raises Estimates of NZ Quake Losses to $45 Million Catlin Group Limited announced that, "based on total insured losses from the New Zealand earthquake of US$5.5 billion to US$6 billion, its... Best Affirms Lloyd's Syndicates 2623, 623, 3623, 3622 Ratings (Beazley) A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of 'A '(Excellent) and issuer credit ratings... Best Revises Outlook; Affirms Ratings for West of England PI Club A.M. Best Europe – Rating Services Limited has revised the outlook to negative from stable and affirmed the financial strength rating... Best Affirms 'A-' Ratings of Flagstone Re and Affiliates A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit ratings (ICR) of "a-" of Flagstone... More International News Sponsored Content The e-Marketing Minute is a bi-weekly video series designed to help insurance agents learn how to grow their agency utilizing the Internet. Check it out. More Sponsored Content Join the Insurance Journal Network Insurance Journal TV 5 Tips to Break the Holiday Sales Slump The end of the year sometimes brings a sales slowdown to insurance agencies. Want help to bust... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums VA Educational benefits for Insurance designations Posted: Tue Dec 21 -- Hello Everyone, I am looking to apply for designation courses soon. But my question is specific to VA Eduactional benefits for veterans such... quotepro Farmers Insurance Posted: Tue Dec 21 -- When you say you, whom do you mean? The Current Agent? Exiting agent? Leaving client? Existing Client? Guess this popped up due to the CEO... FFA Help pls - need info about property & casualty companies Posted: Tue Dec 21 -- Hello Pavan: I think I understand a bit better what you are looking for. In the Us P&C refers to Property and Casualty Insurance which is a... bh1950 Encompass VS. Kemper Posted: Tue Dec 21 -- I'm an Encompass agent. Our agency has represented Encompass for decades dating back to the 1960's and CNA. I serve on their NorthStar Agent... jaspy Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue 2011 Market Fact Book and Buyer's Guide; (including all 2010 Surveys in one convenient place!) December 20, 2010 Download Full Issue 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 Account Manager - Palmer, AK Commercial Lines Account Manager Accounting Operations Manager - Plantation, FL 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 © 2010 by Wells Publishing, Inc.