Tuesday 6 September 2011

Daily Headlines: Tuesday, September 6, 2011

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Insurance Journal Daily Headlines
September 6, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Hurricane Katia Now Expected to Miss East Coast

Hurricane Katia powered up to a major Category 4 storm Monday, but was expected to veer away from the U.S. East Coast later this week, ...

States Offer U.S. Banks Deal Over Mortgage Lawsuits: Financial Times

Big U.S. banks in talks with state prosecutors to settle claims of improper mortgage practices have been offered a deal that may limit ...

Damages Ruling May Be Pivotal in BP Gulf Oil Case

A key court ruling in the Gulf of Mexico oil spill litigation could change the landscape in the massive case -- encouraging more plaintiffs ...

AIG’s Plane Leasing Unit ILFC Files for Initial Public Offering

AIG's aircraft leasing unit, International Lease Finance Corp., filed for an initial public offering Friday despite deep uncertainty in ...

IBM to Acquire Algorithmics

IBM has agreed to acquire Algorithmics for $387 million. Algorithmics is a risk analytics firm with operations in Toronto, Canada. The ...

Insurance Noodle to Offer ACE D&O, E&O Coverage Through Online Hub

Insurance Noodle, part of Willis North America, a unit of Willis Group Holdings, has added has added the management and professional ...

After Drenching New Orleans, Tropical Storm Lee Threatens Southeast

After testing New Orleans' flood defenses over the weekend, Tropical Storm Lee moved northeast Monday after weakening to a tropical ...

Fitch: Hurricane Irene Losses Manageable

Hurricane Irene, while inflicting severe economic damage, will come in far behind the most severe storms to strike United States in recent ...

From MyNewMarkets.com LexArchaeology Provides Construction Owners Peace of Mind in Troubling Times

Even though the rate of new construction projects has dipped significantly since 2008, those that are funded, especially large commercial...
East

Connecticut Asks Insurers to Waive Storm Deductibles for Irene Damages

Connecticut is negotiating with several insurance companies to waive hurricane policy deductibles for coastal homeowners whose properties ...

Wm. Gallagher Appoints Bardelli Senior VP for Property/Casualty

Boston-based broker and service provider William Gallagher Associates (WGA) announced that David Bardelli has joined the firm as a senior ...
Midwest

Indiana Liability Cap in Stage Collapse Questioned

The $5 million limit on the state's liability for the deadly Indiana State Fair stage collapse is unfair in the eyes of at least one state ...

EEOC Settles North Dakota Sexual Harassment Lawsuit

A judge approved a $1 million settlement for 17 women who said they were sexually harassed by a manager at an Applebee's restaurant, an ...

Michigan Investigation of Detroit’s Wind-Swept Fires Still Underway

State officials are still investigating the causes behind wind-swept fires that burned last year in a number of Detroit neighborhoods, and ...

Ohio Cycle Bar Puts Party on the Road; $2M Insurance Policy Helps

As the peculiar yellow vehicle moved into the Short North neighborhood north of downtown Columbus, Ohio, bewildered pedestrians stopped in ...
Southeast

Tennessee Supreme Court Hears General Contractor Liability Case

The Tennessee Supreme Court is considering a case that could change a homeowner's ability to recover damages when a subcontractor botches a ...

North Carolina Defends Workplace Safety Record as Inspections Drop

Twenty years after the worst industrial accident in North Carolina history, there are signs that progress in worker safety made after the ...

Jury Awards Student $50K in Tennessee University Rape Case

A federal jury last Friday ruled for a former student at Sewanee: The University of The South but decided the college won't have to pay him ...

Alfa Raising Rates for Alabama Homeowners

Alfa Mutual Group has raised insurance rates for homeowners by 20 percent across Alabama, with bigger increases for landlord and farm ...
South Central

Wildfires Burn Across Texas; Weekend Losses Expected to Top $100M

While Tropical Storm Lee drenched Southeast Louisiana with up to 15 inches of rain over the weekend, the low pressure system whipped up ...

Austin-based Insurance Agency Volunteers as Fire Victim Donation Site

Watkins Insurance Group in Austin, Texas, has established a donation drop-off site to help victims of the Central Texas fires. Located at ...

Texas July Enforcements Include $391K in Fines, Restitution

The Texas Department of Insurance announced enforcement actions that became final during July 2011 include two license revocations, one ...
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International

Typhoon Talas Kills At Least 15 As It Passes Japan

Heavy rains and mudslides from powerful Typhoon Talas killed at least 15 people in Japan as the storm moved northward past the country ...

British Insurers, Business Heavyweights Support UK Legal Reform Bill

A number of British retailers and business groups have joined forces with the Association of British Insurers (ABI) in support of an ...

UK’s Justice Action Group Rebuts ABI’s Stance on Personal Injury Claims

The Access to Justice Action Group (AJAG) responded swiftly to the study and the bulletin published by the Association of British Insurers ...

Xchanging Appoints Sadler as Insurance Chief Info Officer

London-based Xchanging, the business processing and technology services provider and integrator, has appointed Jim Sadler to the ...

Best Affirms Generali Deutschland and Subs ‘A+’ Ratings; Outlook Stable

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

Ratings Roundup: Ocaso, Mariah Re (Notes)

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

Aran Insurance Services to Offer Specialty P&C Programs in Canada

Aran Insurance Services Group's property and casualty subsidiary MiniCo Insurance Agency, LLC, will offer specialty insurance programs in ...
Sponsored Content

Promotions for Williamson and Young

Irvine, California, September 2011 – The Insco Dico Group announced the promotions of Blaine Williamson to Senior Vice President of Field ...
Insurance Journal Blogs

Why Didn’t We Think of This Before?

Sometimes there is a marketing gem so brilliant, yet so obvious, you can't believe someone didn't think of it earlier. A great example of ...

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Insurance Journal TV

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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

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
Book recommendation for starting an agency?
Posted: Fri Sep 2 -- I recommend that you not only read, but study and internalize "Think and Grow Rich" by Napolean Hill. Although not specific to insurance,... twobeacon
Why Would an Agency Retain Trust Account Service?
Posted: Fri Sep 2 -- CA. historically required a separate Trust Account from all other Agency expenses. I assume that has not changed. If you audited agencies in... mhutch69
musicians - IN
Posted: Fri Sep 2 -- If your band needs convincing that liability insurance is required refer them to the Great White performance in Rhode Island. With 100 fans... hhrchevy
Lifted trucks - who insures them? Above 6"
Posted: Thu Sep 1 -- I am sure that cochran and co out of spokane washington can get it with Lloyds or some other carrier. They managed to write a auto hauler... 12insure
CIBA Insurance purchasing group...Help
Posted: Wed Aug 31 -- I have seen a CIBA quote recently that included a "Modified Replacement Cost," whereas the insured is allowed to "reduce" the building value... jimmyr1978

Reader Comments

With FEMA Running Low on Funds, Irene Revives Budget Battle
Posted: Tue Aug 30 -- Not to worry. Geightner and Bernanke will just crank out the money for FEMA. God forbid if a few of the several hundred other Federal... Longtime Agent
Insurance Lawsuits to Follow Irene
Posted: Thu Sep 1 -- Predictable wave of "oops we should have bought flood insurance" lawsuits is predictable... "A flood of claims may lead to a river of... Not A Witch
Texas Supreme Court: Bad Faith Claim Inconsistent with Worker's Comp
Posted: Tue Aug 30 -- It is well known that Texas Mutual does not like to be ripped off on fraudulent claims. I have to believe they investigated this incident... Longtime Agent
Lawyers Claim Montana Workers' Compensation Investigators Violate Privacy
Posted: Tue Aug 30 -- Lets see now, it violates the confidential and private relationship between a patient and doctor. If the patient was really telling the... Tom Bruckmeyer
New Illinois Law Meant to Help Smokers Kick Habit
Posted: Wed Aug 31 -- Here's a better idea; offer individuals who don't some a less expensive health insurance policy. There's an incentive that targets the... Scott Romoser

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