Tuesday 13 September 2011

Daily Headlines: Tuesday, September 13, 2011

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Insurance Journal Daily Headlines
September 13, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Congress At Odds Over Disaster Aid Dollars

U.S. Republicans and Democrats in Congress moved to quickly approve disaster aid Monday but remained at odds over the amount of money ...

Prices Up in All Commercial Lines: Towers Watson

In an indication that the market may be hardening, commercial insurance prices in aggregate increased by nearly 1.5 percent during the ...

Google Secretive About ‘Super Safe’ Robot Car Crash

Last month, an astute observer was driving in Mountain View, Calif., when he came across a multiple car fender-bender. According to later ...

Hacker Group Not So Anonymous Anymore

The computer hackers, chat room denizens and young people who comprise the loosely affiliated Internet collective known as Anonymous have ...

RMS Estimates Irene Insured Losses At Up to $5.5 Billion

Hurricane Irene caused between $2.5 billion and $5.5 billion in insured losses in the United States and the Caribbean, excluding flood ...

Buffett Picks Another Successor

Warren Buffett advanced his succession plan Monday by naming Ted Weschler, a low-profile hedge fund manager who has produced out-sized ...

CNA Extends CEO Motamed’s Contract Until 2016

CNA Financial Corp. said it has extended its employment contract with Tom Motamed, chairman and chief executive officer, through 2016. He ...

The Hartford Launches Auto, Home Program for National Wildlife Federation

The Hartford will provide the National Wildlife Federation's four million members, partners and supporters with access to its auto and ...

From MyNewMarkets.com 9/11 and Terrorism Risk 10 Years Later

The Sept. 11, 2001, terrorist attacks forever changed how the insurance industry views terrorism risk, says Robert Hartwig, president of the...
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East

Keep Properties Open, Lawmakers Urge New Hampshire Landowners

New Hampshire lawmakers are urging nervous landowners to leave their properties open to recreation while they work to improve their ...

Hub Buys Assets of Massachusetts-based William Palumbo Agency

Hub International Limited has acquired the assets of William Palumbo Insurance Agency Inc., a Boston-area based retail brokerage firm. This ...

Tri-State, New England Insurance Industry Gears Up for Volunteer Week in October

Volunteer Week, the Insurance Industry Charitable Foundation's (IICF)  event, will be held October 15-22, 2011 in the New York tri-state ...

Heffernan Hires Torsney as Senior VP of New York Office

Heffernan Insurance Brokers, an independent insurance brokerage headquartered in Walnut Creek, Calif., has hired Catherine Torsney to join ...

Hanover Names Lavallee Personal Lines Sales Manager in Massachusetts

The Hanover Insurance Group Inc. has appointed Meredith Lavallee as personal lines territory sales manager for the company's ...

Chubb Executive McElwee Joins Homesite Insurance in Boston

Homesite Insurance Co., a Boston-based property insurer, appointed Chubb veteran Andrew McElwee Jr. as executive vice president and chief ...
Midwest

The Main Street America Group Adds New Minnesota Affiliate

The Main Street America Group announced that Minnesota-domiciled Spring Valley Mutual Insurance Co. has agreed to become an affiliate of ...

Pfeffer Joins Aon Risk Solutions in Omaha, Nebraska

Aon Risk Solutions has appointed Dennis J. Pfeffer as appointed senior vice president and resident sales director for the Omaha, Neb., ...

Ohio’s High-Risk Insurance Pool Sees Higher Costs

Ohio's high-risk health insurance pool that began a year ago as part of the federal health care overhaul is facing higher-than-expected ...
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Southeast

Florida’s Citizens to Phase-In Big Sinkhole Insurance Rate Hike

Florida residents who have sinkhole insurance through the state-backed property insurer will see any premium increases phased-in over a ...

Indiana Stage Collapse Prompts Safety Review by Kentucky Bluegrass Festival

Officials with the International Bluegrass Museum in Owensboro, Kentucky, are considering more safety measures as it plans for future music ...

During Floods, Mississippi River Tried to Carve New Path

Since the waters from this spring's floods receded, officials have identified places where the Mississippi River tried to carve out new ...

Mississippi City Police to Send E-mail Crime Alerts

The Columbus, Mississippi Police Department is launching the Columbus Business Alert initiative, an effort to inform local businesses of ...
South Central

Nearly 2,000 Homes Destroyed in Texas Since Labor Day Weekend

The Texas Forest Service reports that an estimated 1,939 homes have been destroyed in the state by wildfires since the Labor Day weekend. ...

How Can Insurance Agents Help the Texas Fire Victims?

As fires tear through Texas, businesses and homeowners struggle to determine their losses. According to the Insurance Council of Texas, ...
West

Southwest Power Outage Economic Cost Put At $100M

The Sept. 8 power outage that left southern California and parts of Arizona and Northern Baja Mexico without power could mean as much as ...

Possible Workers' Comp Increase in Store for Washington

A workers' compensation rate increase may be in store for Washington for 2012. The state's Department of Labor & Industries ...

Lockton Adds Entertainment Division, Opens Office in Southern California

Kansas City, Mo.-based Lockton expanded its Southern California operations by adding an entertainment division and a new San Fernando ...

Bill To Clarify Insurance Code Sections Passes California Legislature

The California State Legislature has passed a bill that makes several technical changes to various California insurance code sections ...
International

Japan Marks 6 Months Since Earthquake, Tsunami

Up and down Japan's devastated northeast coast, survivors prayed and communities came together Sunday to mark six months since the massive ...

Hannover Re Sees Reinsurance Prices Rising Up to 8%

Hannover Re , the world's third-biggest reinsurer, said it saw reinsurance prices rising by 3-8 percent next year, a brighter outlook than ...

HSBC Insurance Chief to Step Down

HSBC's global head of insurance, David Fried, is to step down next month, people familiar with the matter said. Fried will be replaced by ...
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9/11 and Terrorism Risk 10 Years Later

The Sept. 11, 2001, terrorist attacks in the United States forever changed how the insurance...
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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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New Discussions in the Forums

Agency Management System
Posted: Mon Sep 12 -- These are lots of great suggestions. We are looking to be ahead of the curve in terms of usability, scalability and ease of integration with... Afrank
Attorney considering CPCU- thoughts?
Posted: Thu Sep 8 -- I have also studied for the CPCU and recommend it. It will be a reflection of your dedication to the industry. It is time consuming though.... John J90
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
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

Reader Comments

Connecticut Asks Insurers to Waive Storm Deductibles for Irene Damages
Posted: Tue Sep 6 -- Connecticut's governor is a socialist masquerading as a democrat. When you elect socialist's, you get socialism. Jim Keating
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
Why 9/11 Changed Everything
Posted: Fri Sep 9 -- It is highly unlikely that any terrorist event will have the scope and magnitude of damage that resulted from 9/11. Notwithstanding, is this... Jester

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