Mar 29, 2011

Insurance Journal TV: California Earthquake Authority Targets $5 Million to Help Agents Sell Earthquake Insurance

Insurance Journal TV
March 29, 2011
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California Earthquake Authority Targets $5 Million to Help Agents Sell Earthquake Insurance

With 70 percent of Californians living within 30 miles of an active earthquake fault, the California Earthquake Authority wants to help residents protect their most valuable...

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Copyright © 2011 by Wells Publishing, Inc.

Mar 28, 2011

Daily Headlines: Monday, March 28, 2011

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Insurance Journal Daily Headlines
March 28, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Federal Government Lifts Cargo Insurance Requirement for Truckers

The federal government is no longer requiring that about 76,000 of the nation's for-hire truckers carry cargo liability insurance. Over ...

Employers Rewarded for Insuring Early Retirees Under Healthcare Reform

When President Barack Obama signed his healthcare overhaul into law a year ago, some U.S. companies were quick to flag -- and write down -- ...

CNA Launches Customized Product for Community Banks

In April, CNA will join other members of the Independent Community Bankers of America (ICBA) to celebrate Community Banking Month with the ...

From MyNewMarkets.com Insurers Make Changes to Dog Owner Liability

The insurance industry is going to the dogs, literally. Since December, Progressive, Chubb and The Hartford have all updated their coverage...
Sponsored by: Maritime Program Group. Join the Revolution in Maritime Insurance. Recreational Marine, Inland Marine, Ocean Marine, Private Clients Services. Click for more info.
East

Connecticut Lawmakers Approve Local Lawsuit Protection Bill

A proposal to protect Connecticut cities and towns from lawsuits over injuries on lands owned by municipal authorities has passed a key ...

New Jersey, Home to Oldest U.S. Nuke Plant, Reviewing Safety

New Jersey, the most densely populated state and home to the nation's oldest nuclear power plant, created a task force Friday to review ...

NYC Marks 100th Anniversary of Deadly Factory Fire

Hundreds of people gathered Friday in Manhattan's Greenwich Village neighborhood to mark the 100th anniversary of the Triangle Shirtwaist ...
New training this week from Academy of Insurance: What Your Agency Must Do to Avoid E&O from Certificates of Insurance
Midwest

Michigan Catastrophic Auto Insurance Fee to Rise 1.3%

Michigan auto insurance policyholders will pay an additional $1.91 starting July 1 to help pay the lifetime medical expenses of people ...

Good News for Midwest Farmers on Crop Insurance

There were some weary insurance agents in the region March 16. There were plenty of farmers with better-than-usual crop insurance coverage, ...

Minneapolis' Snow-Damaged Metrodome About to Get New Roof

Insurance is paying for the bulk of the cost of replacing the roof of the 29-year old Hubert H. Humphrey Metrodome in Minneapolis, Minn. ...
Southeast

Florida Insurance Office Announces Staff Changes

Florida Insurance Commissioner Kevin McCarty announced several staff changes at the Office of Insurance Regulation (OIR). Al Willis has ...

Tennessee Gov. Haslam Offers Compromise on Damages Cap

Tennessee Gov. Bill Haslam has offered a compromise on his proposal to limit lawsuit damages, drafting a change to the bill that would ...

Florida Hears First Community’s Home Rates; OKs Dwelling Increase

Florida regulators held a public hearing last week to consider the First Community Insurance Co.'s request to raise its homeowner rates a ...
South Central

Hallmark Financial Services Acquires Texas Builders Insurance

Hallmark Financial Services Inc., headquartered in Fort Worth, Texas, announced that its subsidiary, American Hallmark Insurance Co. of ...

Louisiana Sees Big Over-the-Year Increase in Nonfarm Jobs

A gain of 3,000 construction jobs from January to February contributed to the largest over-the-year gain in seasonally adjusted nonfarm ...
West

Montana Bill to Deny Workers’ Comp to Illegal Aliens Stalls in Senate Committee

A bill that would deny workers' compensation to illegal immigrants who have jobs in Montana was tabled by a Senate committee after ...

New Mexico Wrecking Companies Alerted to Potential Fraud

Tbe New Mexico Public Regulation Commission's Transportation Division has put wrecker/towing companies on notice that it will strictly ...

MarketScout Names Muston a Senior Broker in San Diego

MarketScout Wholesale LLC  has expanded in San Diego with the addition of Tere Muston as senior broker. Muston joins MSW with 23 years of ...

Arizona Regulator Selected for International Supervisory Forum

The National Association of Insurance Commissioners (NAIC) announced that Steve Ferguson, assistant director of the Arizona Financial ...
International

Japan Reinsurance Prices Should Rise 50%: Analyst

Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, as one analyst said ...

IFRIMA Joins Call for Brazil to Rollback Insurance Law Changes

The International Federation of Risk and Insurance Management Associations (IFRIMA) has called for Brazil to reconsider two legislative ...

Chartis Receives High Response for Fuji Fire Share Offer

Chartis, the general insurance subsidiary of American International Group, has announced the results of its cash tender offer by its wholly ...

Liberty Mutual Brazil Syndicates Expand Presence

Liberty Mutual first established a Syndicate presence in Brazil in 2009, when it set up operations for its Lloyd's syndicates in Sao Paolo ...

S&P Puts Montana Re Cat Bonds on CreditWatch Negative after Japan Quake

Standard & Poor's Ratings Services has placed its 'B- (sf)' rating on Montana Re Ltd.'s Class E notes on CreditWatch with negative ...

Ironshore Canada Launches Specialty Casualty Division

Ironshore Canada Ltd. created a specialty casualty division to underwrite insurance coverages for general liability, as well as umbrella ...

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Soft Market Is Finally Ending, Really, Says SNL Financial

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Will Deficit Debate Affect Flood Insurance? Taxes?

Following the November elections, Congress and the White House, as well as states, have...

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New Discussions in the Forums

adp peo
Posted: Fri Mar 25 -- If the client has an x-mod, then that means they're what's known as a "Rule IV" client (at least in California). That is, they have to... Big Dog
cpcu woes
Posted: Fri Mar 25 -- The best way to think of the CPCU is an investment in knowledge and your career. When you invest time in your knowledge, you are never... AlstonCPCU
Agency Appointment/ Agent Certification
Posted: Fri Mar 25 -- Probably much easier for you to get your agent's license and then negotiate with an agency with a contract with the placing company to pay... gforaker
Open your doors and look what comes in...
Posted: Fri Mar 25 -- D, I feel your pain! I had a similar situation with a potential client a few years ago that manufactured & distributed beauty products that... bclawhorn
What is your broker of record policy?
Posted: Fri Mar 25 -- Dear Earlybird, You bring up an interesting point. And just to be clear, I have no false hope that this practice will ever change because... RKunz2
Commercial Auto in CA
Posted: Thu Mar 24 -- "I'm looking for a commercial auto market in CA with competetive rates. Currently with Infinity and their rates... RKunz2

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3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2011 by Wells Publishing, Inc.

What Your Agency Must do to Avoid E&O from COIs

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This Wednesday: What Your Agency Must do to Avoid E&O from COIs
New training from Academy of Insurance
 
What Your Agency Must do to Avoid E&O from COIs

Live online training plus Q&A session
Date: Wednesday, March 30, 2011
Time: 1:30 PM - 2:30 PM ET


Since Certificates of Insurance are becoming a major expense and a major E&O exposure which generates no revenue for the agency, managing this exposure effectively and efficiently is becoming increasingly important.

Register today and save $25 on your registration!

What you will learn:
  • The REAL difference between Certificates of Insurance, Binders and Evidences of Property Insurance
  • How each of these three forms are to be used
  • What must an agency do to avoid the E&O exposure that comes with issuing Certificates of Insurance
  • The proper use of COI's
When you register, you get:
  • Access to the live training (Wednesday at 1:30PM EDT)
  • 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

Register today and save $25 on your registration!

Reserve your seat

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In this webinar we will explore the psychology that prevents you from asking for introductions   Join us for a breakdown of the E&O policy form and learn how to properly insure your client's exposures.   Mysteries Behind Excess and Umbrella Liability Insurance

Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2011 by Wells Publishing, Inc.

Mar 25, 2011

Daily Headlines: Friday, March 25, 2011

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Insurance Journal Daily Headlines
March 25, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Commercial Insurance Prices Still Flat After 8 Quarters: Towers Watson

Commercial insurance prices were relatively flat for the eighth consecutive quarter, while accident-year loss ratios deteriorated relative ...

Major Class Action Sex Discrimination Case Goes Before Supreme Court

The largest class-action sex-discrimination lawsuit ever will be argued before the U.S. Supreme Court March 29, pitting Wal-Mart Stores ...

Who's Worth What in the Independent Agency System? Find Out … Join IJ's Survey

Insurance Journal is polling insurance agents and brokers nationwide in its annual search to find out who's worth what in the independent ...

Calif.’s Sandin Joins P/C Trade Group AIA as State Affairs VP

Tracy Sandin has joined the property/casualty insurance trade group, the American Insurance Association, as its new vice president for ...

From MyNewMarkets.com Insurers Make Changes to Dog Owner Liability

The insurance industry is going to the dogs, literally. Since December, Progressive, Chubb and The Hartford have all updated their coverage...
Sponsored by: City of Hope. Watch the 2011 NCAA National Championship Game at Hoops for Hope - Mon., April 4th. Network with 100's of Insurance Industry pros at gatherings in L.A. and Chicago. Proceeds benefit City of Hope. Click here for more information.
East

Rhode Island Ponders Forcing Insurers to Buy Driving Records

Budget-strapped Rhode Island is considering a new way to raise money: Force insurers to buy official driving reports from the state, at $20 ...

Rhode Island Town Not Liable for $4.3M in Damages in Bullying Suit

A Rhode Island Superior Court judge has ruled that the town of Johnston does not have to pay $4.3 million in damages awarded to a girl who ...
Insurance Journal Academy A major expense that generates
no revenue for the agency?

Certificates of Insurance are becoming a major expense and a major E & O exposure which generates no revenue for the agency, managing this exposure effectively and efficiently is becoming increasingly important.
Join us March 30 to learn the Do's and Don'ts for handling COIs. Register today!
Midwest

Michigan Court Reinstates Injured Cheerleader’s Lawsuit

A civil lawsuit accusing a Detroit area youth football league and team of negligence contributing to a cheerleader's injury has been ...

Ohio Workers’ Comp Bureau Finds Fraud at 6 Postal Contractors

Six postal contractors in Ohio have been sanctioned for workers' compensation fraud, state regulators say. The Ohio Bureau of Workers' ...

Michigan’s Stricter Teen Driving Rules Go Into Effect Next Week

Michigan is preparing to enact new restrictions on teen drivers-in-training. Law enforcement, insurance and education leaders gathered in ...

Illinois Insurance Director: Health Law Helping Consumers

While the anniversary of the Obama administration's health law inspired events to publicize the law's "broken promises" elsewhere, ...

Ohio’s Pitts Agency Joins The Iroquois Group

Pitts Insurance Agency of Columbus, Ohio, has joined The Iroquois Group, a network of property and casualty insurance agencies with more ...
Southeast

Former U.S. Sen. Thompson Opposes Tennessee Governor’s Damages Cap

Former U.S. Sen. Fred Thompson says legislation that seeks to limit monetary damages from lawsuits in Tennessee is unnecessary and that a ...

North Carolina Debates More Fines on Drivers Using Cell Phones

North Carolina lawmakers already have banned young drivers from using cell phones and everyone else from texting or emails while behind the ...
South Central

Texas Wind Pool Names New Acting General Manager

The board of the insurer of last resort for property along the Texas coast has named a new acting general manager and is moving forward ...

Louisiana Won’t Create State Health Insurance Exchanges

Gov. Bobby Jindal's administration in Louisiana is opting out of creating the state insurance exchanges included in the new federal ...

Settlement Reached in New Orleans Hospital Katrina Class Action Lawsuit

A major New Orleans hospital and the company that owned it have settled a class action lawsuit in the deaths and injuries of patients who ...

Austin, Texas, Fire Investigations Team Honored

A Texas Advisory Council on Arson (ATAC) has honored the Austin Fire Department's Arson Investigations unit with its 2011 Law Enforcement ...
West

Oregon Proposes Medical Malpractice Cap

Oregon legislators have proposed capping non-economic damages in medical malpractice claims against health care providers at $500,000. ...

Montana Gov. Amendments Added to Workers’ Comp Bill

A Montana state Senate committee got a look at the newest version of what is being labeled a "historic" workers' compensation reform ...

Mont. Governor Endorses Workers’ Comp Compromise

Gov. Brian Schweitzer's administration said Wednesday that it is supporting a deal with Republicans to cut workers' compensation insurance ...

S.H. Smith & Co. Opens Northwest Office

S.H. Smith & Co. Inc., a wholesaler and managing general agent, announced it is expanding its market presence into the West by opening ...

California Insurer Association Names New Board Leadership

Members of the Association of California Insurance Companies (ACIC) nominated and appointed a new chair, vice chair, and board of directors ...
International

AIR Worldwide Estimates Japan Insured Losses up to $30 Billion

Risk modeling company AIR Worldwide tightened its estimate for insured losses from the Japan earthquake and tsunami, forecasting the ...

S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed

Standard & Poor's Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in ...

Swiss Re Gives Proposals for Next AGM

Swiss Re's Board of Directors has announced the agenda for the reinsurer's forthcoming annual general meeting, set for April 15, and the ...

UK China Ambassador Opens Lockton’s Beijing Branch Office

A bulletin from Lockton notes that the UK Ambassador to China Sebastian Wood "lauded the work of international insurance brokers helping ...

Former NAIC Pres. Atchinson to Head Geneva Ass’n. Institutional Relations

The Geneva Association, an important international insurance think tank, announced that Brian Atchinson has been appointed as Acting Head ...

Ratings Roundup: Topiary (Cat Bonds), Cardif, AMI, PhilNaRe

Standard & Poor's Ratings Services said that its 'BB+(sf)' rating on Topiary Capital Ltd.'s Series 2008-1 notes will remain on ...
Sponsored Content

Protective Specialty Announces Expansion of Professional Liability Product Offerings

Indianapolis, Ind. - Mar 25 2011 – Protective Specialty Insurance Company (PSIC) has expanded its product offerings to include Technology ...

George Petersen Insurance Agency Chooses Succeed Management Solutions to Provide Its Clients With Risk Management Solutions

Northern California Agency to utilize Succeed Management Solutions, LLC to provide clients with an industry leading web-based risk ...

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Soft Market Is Finally Ending, Really, Says SNL Financial

Could the long soft market really be over? Several recent reports concluded it is not over....
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Will Deficit Debate Affect Flood Insurance? Taxes?

Following the November elections, Congress and the White House, as well as states, have...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

cpcu woes
Posted: Fri Mar 25 -- I asked a similar question earlier. I have also spoke with various other people I know in the industry. All answers point to the fact that... paulbennings
Agency Appointment/ Agent Certification
Posted: Fri Mar 25 -- Here is the scenerio. A relative of mine has a sizable business dealing with a wide variety of residential housing/renting. I would like to... Trainee
adp peo
Posted: Fri Mar 25 -- Disclaimer: This is my personal opinion only. I used to be a w/c underwriter for a number of PEO's, so my views may be somewhat biased (but... Big Dog
Commercial Auto in CA
Posted: Thu Mar 24 -- I'm looking for a commercial auto market in CA with competetive rates. Currently with Infinity and their rates...
Open your doors and look what comes in...
Posted: Thu Mar 24 -- I see this stuff ALL THE TIME. I review someone's policies, point out all the things they aren't covered for that they think they're covered... e-bit
Commercial Auto
Posted: Thu Mar 24 -- Philadelphia writes fleets of more than 5 vehicles, Progressive, GMAC/Integon, Safeco.....and on and on e-bit
What is your broker of record policy?
Posted: Thu Mar 24 -- I only do a BOR if I get them to complete a new application to go with it, along with copies of their current policies. I don;t process it... e-bit

Current Issue

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Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2011 by Wells Publishing, Inc.

Mar 24, 2011

Daily Headlines: Thursday, March 24, 2011

Sponsored by: Philadelphia Insurance Companies. Management & Professional Liability, 24-hr Turnaround - Next Day Policy Delivery, You're Covered. Click here for more information.
Insurance Journal Daily Headlines
March 24, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

AIG Expects ‘Minimal’ Effects from Japan Claims

American International Group Inc. said Wednesday it expects "minimal net effects" from the recent earthquake and tsunami on the ...

Nuclear Agency to Conduct Safety Check of U.S. Plants

The top U.S. nuclear regulator Wednesday approved the launch of a safety review of U.S. nuclear reactors sought by President Barack Obama ...

U.S. P/C Insurers’ Results for 2010 Get ‘Mixed Review’ from A.M. Best

The U.S. property/casualty insurance industry's financial results for 2010 represented a mixed bag, with some good results and some that ...

Worldwide Facilities Introduces New Carrier for Life Sciences Risks

Worldwide Facilities, Inc. has introduced a new cover for life science innovators. The coverage provides protection for life sciences risks ...

Ironshore Political Risk Increases Capacity to $25 Million

Ironshore Inc.'s Political Risk Insurance unit has increased capacity limits to $25 million on a gross limit basis for its global ...

Supreme Court Makes It Easier to Sue Businesses

The Supreme Court made it easier to haul businesses into court, ruling this week that investors can sue them for purposefully withholding ...

From MyNewMarkets.com Tech Risks to Watch in 2011

The constant innovation indigenous to the technology industry may make the idea of risk management seem difficult and sometimes impossible....
Sponsored by: City of Hope. Watch the 2011 NCAA National Championship Game at Hoops for Hope - Mon., April 4th. Network with 100's of Insurance Industry pros at gatherings in L.A. and Chicago. Proceeds benefit City of Hope. Click here for more information.
East

Injured Cyclist’s Family Sues Car Driver for $10M

The family of a comatose cyclist is suing for $10 million the driver of the car that struck him in Maryland. Lawyers in the lawsuit filed ...

Proudlove Named VP at Global Aerospace

Global Aerospace Inc. named Christopher Proudlove vice president, manager complex risks. Proudlove, based in New Jersey, joined Global ...
Sponsored by: Automotive Risk Management & Insurance Services, Inc. Truck Dealers. Franchised or independent. Competitive Markets. Get an app today. Click here for more information.
Midwest

Ohio Workers' Comp Bureau Receives Nearly $2M from Jailed Doctor

Ohio workers' compensation system regulators have received nearly $2 million from an Akron area anesthesiologist who was convicted in ...

Missouri Approves First $50K in Line of Duty Claims from Comp Fund

Missouri workers' compensation regulators recently approved payment to families of individuals killed in the line of duty to protect the ...

Michigan Nixes Strict Workplace Ergonomics Rule

Michigan Gov. Rick Snyder has signed a bill to prevent state-level administrative rules mandating workplace ergonomics. Ergonomics aims to ...
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Southeast

Florida Homeowners Insurers Seek ‘Flex-Rating’ Up to 15%

Florida lawmakers are considering giving homeowners insurers more flexibility to raise rates. The Florida Senate and Banking Insurance ...

Florida’s Homewise, First Home Insurance Companies to Merge

Two of Florida's domestic insurance companies have announced that they plan to merge. Homewise Insurance Co. and First Home Insurance Co. ...

PMA Names Spina as Vice President in Atlanta Branch

PMA Companies announced that Mario Spina has been appointed to serve as the branch vice president of the insurer's Atlanta, Georgia ...
South Central

State Farm Homeowners’ Rate Hike Rejected in Louisiana

Louisiana insurance regulators have rejected a rate increase from the state's largest insurer of homes. State Farm Fire and Casualty Co. ...

Lawsuit Reform Measures Advance in Oklahoma House, Senate

Oklahoma state lawmakers seem to be serious about reforming the state's tort environment. Legislation aimed at eliminating joint and ...
Sponsored today by: Texas Mutual Insurance Company. 'They're the best workers' compensation company that we work with.'. Texas Mutual Insurance Company. Here for Texas, Here to Stay. Click here for more information.
West

Ore. Governor Asks Obama for Disaster Declaration

Oregon's governor has asked President Barack Obama to issue a disaster declaration for a coastal county ravaged by a tsunami this month. ...

Arrowhead Wholesale Insurance Names Urita Assistant VP

Arrowhead Wholesale Insurance Services LLC has added Christie Urita, as the company's new assistant vice president of its professional ...

U.S. Coastlines Should Be Prepared for Potential Tsunamis

In the wake of Japan's tsunami disaster, the National Oceanic and Atmospheric Administration (NOAA) is urging Americans who live and ...

Alaska House Approves Updated Workers’ Comp Fee Schedules

The Alaska State House of Representatives has passed legislation to modernize the state's workers' compensation procedural fee schedules. ...
International

Allianz Nat Cat Analysis: Economic Growth a Major Factor for Increased Losses

Experts on natural catastrophe risk at Allianz have highlighted the growing trend in insured losses arising from natural catastrophes ...

UK Insurers Support Corporate Tax Reduction; Budget for Growth

The UK government's recently proposed budget contain a number of measures aimed at helping UK firms to increase their business, and to ...

XL Re Teams with Aon Benfield to Implement E-commerce Messaging

XL Re, the global reinsurance operations of XL Group, and Aon Benfield announced that XL Re Ltd, XL's Bermuda-domiciled reinsurance ...

Best Comments on First Asian Based Captive Rating

A.M. Best Co. announced that it has recently "assigned its first rating to a captive domiciled in Asia, as the global practice of major ...

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Insurance Journal TV

Video thumbnail

Soft Market Is Finally Ending, Really, Says SNL Financial

Could the long soft market really be over? Several recent reports concluded it is not over....
Video thumbnail

Will Deficit Debate Affect Flood Insurance? Taxes?

Following the November elections, Congress and the White House, as well as states, have...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Commercial Auto in CA
Posted: Thu Mar 24 -- I'm looking for a commercial auto market in CA with competetive rates. Currently with Infinity and their rates seem pretty high. 40 veh/40... EricCBIAIns
Online Insurance Shoppers
Posted: Wed Mar 23 -- Hunter, thanks for that awesome post... KPIA
National Agents Alliance? Legit or Keep Away?
Posted: Wed Mar 23 -- Ever heard the term "Blackboard Rich". Nuff said! philip
American Interstate
Posted: Wed Mar 23 -- Is anyone out there having problems getting American Interstate (Amerisafe) to issue any policies? I am on a 0/37 slide with them. Cant seem... FFA
What is your broker of record policy?
Posted: Wed Mar 23 -- I think there are some very valid replies here, but keep in mind, if an agency was doing its job, it wouldn't lose an account to a BOR. Yes,... AgencyEquity
Open your doors and look what comes in...
Posted: Tue Mar 22 -- Wow, D! Been there....done that....SO many times! Looks like she JUST found out that Products/Completed Ops. were not inlcuded in her... SFOInsuranceLady
"Pay As You Go" Work Comp
Posted: Mon Mar 21 -- We have been offering a Pay As You Go approach - PMC PayGo, for nearly 2 yrs. It is avaialble/approved with 3 National Carriers and growing.... dmalloy

Current Issue

Current Issue
HOT New Markets & Programs, High Risk Property, Corporate Profiles, 2010 Mergers & Acquisitions Summary Report

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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.
Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2011 by Wells Publishing, Inc.