Thursday 8 September 2011

Daily Headlines: Thursday, September 8, 2011

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Insurance Journal Daily Headlines
September 8, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Senate Committee Passes Federal Flood Insurance Reform Legislation

As many property owners continue to recover from hurricane and tropical storms Irene and Lee and new storms form offshore, the U.S. Senate ...

Mortgage Lawsuits Target Individuals As Well As Banks

By suing 131 individuals in its effort to recover losses on $200 billion of mortgage debt that went sour, the federal agency overseeing ...

White House: Irene’s Federal Cost $1.5 billion

The White House estimated this week that Hurricane Irene will cost federal taxpayers $1.5 billion in disaster relief, further ballooning a ...

ACE to Acquire Penn Miller

Penn Millers Holding Corp., which provides property and casualty insurance through its wholly owned subsidiary, Penn Millers Insurance Co., ...

East Coast Quake Shook US Nuclear Plant Twice as Hard as Design Allowed

Preliminary data from the U.S. Geological Survey shows last month's record earthquake in the eastern United States may have shaken a ...

Best Affirms Donegal Insurance Group & Members, Michigan Ins., Donegal Group

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A '(Excellent) and issuer credit ratings (ICR) of "a" of Donegal ...

Ratings: Commerce Protective, Stonington/Lantana, Farmers Mutual, One Beacon Lloyd’s, Texas Medical

A.M. Best Co. has downgraded the financial strength rating to 'B+' (Good) from 'B++' (Good) and issuer credit rating to "bbb-" from ...

Pearl Insurance Enhances Real Estate E&O Coverage

Pearl Insurance has introduced a new errors and omissions policy for real estate professionals. The REALTORS professional liability policy ...

From MyNewMarkets.com Rising Gold Prices Raise Risk in Jewelry Industry

Increases in the price of gold and in jewelry crimes have put the jewelers block insurance segment in a tenuous position, and agents and...
East

Chiropractors Push to Reverse New York's Workers' Comp Guidelines

New York chiropractors don't like the new medical treatment guidelines adopted last December by the New York State Workers' Compensation ...

Mass. Court Rules on Joint Employers’ Responsibilty for Workers’ Comp

Two employers can be held jointly responsible for workers' compensation benefits for an injured worker whom they both classified as an ...

Insurers in Delaware Diocese Bankruptcy Balk at $15 Million Payout

A dispute over insurance payments is threatening to blow up the Catholic Diocese of Wilmington's bankruptcy reorganization plan. Under the ...

Benefits Available for Those in 2 Mass. Counties Left Jobless by Irene

Residents of Berkshire and Franklin counties in Massachusetts who lost their jobs due to flooding or other damage caused by Tropical Storm ...
Midwest

Lockton Expands With Omaha, Nebraska Office Opening

Kansas City, Mo.-based Lockton is expanding its insurance and risk management operations with the opening of an office in Omaha, Neb. Jack ...

Workers' Comp Ombudsman Program Launched in Minnesota

The Minnesota Department of Labor and Industry (DLI) has established a new Office of Workers' Compensation Ombudsman to provide advice and ...

Vanek to Lead Internal Audit Division at Ohio Workers’ Comp Bureau

Dennis A. Vanek has been appointed as chief of the internal audit division at the Ohio Bureau of Workers' Compensation (BWC). Vanek most ...
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Southeast

Some in Florida Want to Opt Out of Chinese Drywall Settlement

Hundreds of Floridians want to opt out of a proposed $53 million federal settlement over faulty Chinese drywall in hopes of pursuing ...

Mississippi Wrongful Death Suit Alleges Hate Crime

The family of a black man who authorities say was run over by a white teenager in a truck in Jackson, Mississippi has filed a wrongful ...

U of Mississippi Denies Bias Claim

The University of Southern Mississippi has denied the claims of a Hispanic woman that she was discriminated against in her pursuit of a ...
South Central

Texas Fires Kill 4, Destroy More Than 1,600 Homes

One of the most devastating wildfire outbreaks in Texas history has left more than 1,600 homes in ruins and stretched the state's ...

Officials: Louisiana Home-Raisings Prevented Flooding from TS Lee

Terrebonne Parish, Louisiana officials say an aggressive effort by parish government to use federal grant programs for elevation of homes ...

60 Homes Destroyed in Fire Northwest of Houston

Central Texas is not the only area in the state fighting wildfires. The Texas Forest Service says 60 homes have been destroyed and another ...

Texas Mutual Rewards CompGroup AGC with $773K Dividend

Texas Mutual Insurance Co. announced a $772,782 dividend to the CompGroup AGC. The workers' compensation safety group dividend was based ...
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West

California Gov. Brown Signs Bill Consolidating Insurance Notices

California Governor Jerry Brown has signed into law a bill allowing California homeowners insurance companies to consolidate the required ...

California Self-Insured Restaurant Group Wins Fraud Conviction

The California Restaurant Mutual Benefit Corp. (CRMBC) is holding up a new conviction as success story in its "intensified campaign" ...

Hub Acquires Montana’s Mountain West Insurance

Chicago-based Hub International Ltd. has acquired some of the assets of Mountain West Insurance & Financial Services LLC, a Missoula, ...

XL Insurance Expands in San Francisco with 2 Appointments

XL Insurance has appointed Marcia Blanco and Ursula Williams to its miscellaneous professional liability (MPL) team in San Francisco. ...
International

Hurricane Center Tracking 3 Atlantic Storms: Katia, Maria and Nate

It's a busy time of year for the National Hurricane Center in Miami. The NHC is currently following one hurricane – Katia, and two ...

AIR Estimates Talas Insured Losses between $150 -$600 Million

Catastrophe modeling firm AIR Worldwide's initial estimates for insured losses from Tropical Storm Talas are between JPY 12 billion ($150 ...

Best Report Concludes Canada’s Insurers Improve, But Risk Profile Rises

A report from A.M. Best concludes that the Canadian insurance industry "continued to improve in 2010, exhibiting strong capitalization and ...

Argo Group's Fine Arts Title Underwriter in Partnerships with Art Insurers

Argo Group International Holdings, Ltd. announced that its subsidiary, ARIS Title Insurance Corporation, the world's first underwriter of ...

SCOR Confirms Earnings Targets; Strategic ‘Strong Momentum’ Plan

French reinsurer SCOR confirmed the targets of its strategic plan -"Strong Momentum" - at its annual Investors' Day, held on ...

Best Affirms Allianz SE, Most Subs ‘A+ Ratings; Outlook Stable

A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings ...

Best Affirms Markel International’s Ratings; Syndicate 3000; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of ...

Montpelier Group Names Schaper as President of Montpelier Re

Montpelier Re Holdings Ltd. Has appointed Christopher T. Schaper as President of Montpelier Reinsurance Ltd. , effective November 25, 2011 ...

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What's in a Name? Unitrin CEO Southwell Says A Lot

A legendary insurance company name is back in the headlines. Unitrin Inc. has taken the Kemper...
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Brokering the Hot Cyber Liability Market

With data breaches in the news, cyber liability insurance is gaining recognition. The market...

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New Discussions in the Forums

National Agents Alliance? Legit or Keep Away?
Posted: Thu Sep 8 -- Since I am currently looking to get into the mortgage insurance field, I have a sincere observation to share after reading all of these... voyman
Direct carriers muscling us out of the market?
Posted: Thu Sep 8 -- I am seeing an increasing number of ads from carriers offering auto and home insurance. Should independent agents be concerned that... John J90
Super Newbie
Posted: Wed Sep 7 -- Hey Guys/Gals, I would super appreciate some advise on getting into this field, I'm 39 years and and have always wanted to be a... rjamruiz
Taxi Cab Insurance FL
Posted: Tue Sep 6 -- We are an independent agency in the Tampa area looking for competitive markets for taxi cab/livery risks. Anyone know of any carriers or... LindseyFBQ
Homeowners w/o Social Security #
Posted: Tue Sep 6 -- Obviously there are government regulations so I'm not asking for a lecture. These are perfectly legal loans that are made using an ITIN... Halpert
Agency Management System
Posted: Tue Sep 6 -- Salesforce does have accord forms now, one of the things added to make the system more insurance agent friendly. I only know one agent that... Tron

Reader Comments

Connecticut Asks Insurers to Waive Storm Deductibles for Irene Damages
Posted: Tue Sep 6 -- The new vanishing deductible? Curious
Jury Awards Student $50K in Tennessee University Rape Case
Posted: Tue Sep 6 -- I was actually young once and even then I knew that if I got messed up on alcohol and meds, the outcome would not be good. The young woman... Waterbug
Nebraska County Must Pay $407K in Car Crash Lawsuit
Posted: Wed Sep 7 -- I guess the guy will next be going after the gravel company for not selling the county non-slip gravel. jmc
White House Requests $5.2B in New Disaster Funds
Posted: Wed Sep 7 -- here is a thought...... how about diverting some of the foreign financial aid to our own disaster funds? AS
Insurance Lawsuits to Follow Irene
Posted: Thu Sep 1 -- When told they didnt purchase flood coverage by the agent holding the flood rejection letter, the usual comment is " Oh, but the wind blew... earlybird

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September 5, 2011

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