Wednesday 7 September 2011

Daily Headlines: Wednesday, September 7, 2011

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Insurance Journal Daily Headlines
September 7, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

White House Requests $5.2B in New Disaster Funds

The White House told Congress last week there's a need for more than $5 billion in additional disaster relief money, not even counting the ...

Regulator Defends Suit Against Lenders Over Mortgage-Backed Securities

The U.S. Federal Housing Finance Agency said Tuesday it decided to file lawsuits against 17 financial institutions last week because the ...

NSM Insurance Group Acquires AFPD

Geof McKernan, CEO of Philadelphia-based NSM Insurance Group, announced the acquisition of AFPD, a national program administrator for ...

Chartis Enhances Fiduciary Liability Coverage for Organized Labor

Chartis has made two enhancements, developed by its Executive Liability division, to its fiduciary liability insurance solutions for ...

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...
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East

Irene Raises Hurricane Deductible Questions in Hard-Hit Northeast States

New York and New Jersey regulators said recently that hurricane deductibles should not apply on homeowners' insurance policies for Irene ...

FEMA Aid Approved for All New Jersey Counties

All 21 counties in New Jersey have been declared major disaster areas following Hurricane Irene. The designation allows those not eligible ...

NSM Acquires New York Manager of Dentist, Lawyer Programs

NSM Insurance Group has acquired AFPD, a New York-based program administrator for lawyers and dentists errors and omissions programs. Terms ...

Connecticut Grants Drivers Extra License Renewal Time

Connecticut drivers will have some extra time to renew their licenses and registrations as they cope with delays, power outages and storm ...

Vermont Towns Seek Donations to Help People Post-Irene

Vermont communities recovering from Tropical Storm Irene are seeking donations to help urgent family housing needs. Until state and federal ...
THURSDAY: Top 7 CGL Coverage Questions
Midwest

Nebraska County Must Pay $407K in Car Crash Lawsuit

Furnas County, Neb., has been ordered to pay more than $407,000 to a man injured in a car accident. The Lincoln Journal Star reports that ...

BP Fund Administrator to Consult Indiana on State Fair Claims

Indiana Attorney General Greg Zoeller has announced that Kenneth Feinberg, the administrator of victim compensation funds after 9/11 and ...

Ohio Chiropractor Sentenced for Workers’ Comp Fraud Scheme

A Fairfield, Ohio, chiropractor who pled guilty in July to felony workers' compensation fraud has been ordered to repay the Ohio Bureau of ...
Southeast

North Carolina County Recovers From Trio of Disasters

Driving along the back roads of Bertie County, it's hard sometimes to tell one disaster's damage from another. That huge old tree, its ...
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South Central

Central Texas Fires Slowly Being Contained but Blazes Continue Across State

Three out of four of the main fires burning on the outskirts of Texas' capitol city, Austin, have been mostly contained, officials say, but ...

Arlington, Texas Officials Settle Taser Suit for $25,000

City officials in Arlington, Texas, have settled a lawsuit for $25,000 after a police officer mistakenly used a Taser twice while pursuing ...

Texas Man Pleads Guilty to Multiple Arsons, Attempted Murder

Steven Scott Cantrell, of Crane, Texas, pled guilty to hate crime charges stemming from a series of racially-motivated arsons in December ...
West

California City Warned It May Lose Its Insurance Coverage

A Southern California city has been told that it could lose its insurance if city officials and staff don't start getting their act ...

California Passes Bill on Employer Rights in Workers’ Comp Arbitration

The California State Legislature on Tuesday passed a bill that California Insurance Commissioner Dave Jones said will make workers' ...

National Financial Partners Acquires California’s DA Financial

New York-based insurance broker National Financial Partners Corp. has acquired DA Financial Group of San Francisco, Calif., for an ...

XL Insurance Names Soldano Western Region Executive

XL Insurance, the global insurance underwriting operations of XL Group plc, has promoted Frank Soldano to western regional executive. In ...

California’s Poms & Associates Promotes Gilman to EVP

Poms & Associates Insurance Brokers Inc. in Woodland Hills, Calif., has promoted Seth Ford Gilman to executive vice president, a ...
International

Hurricane Center Reports Katia Weakens; Tropical Depression 14 Forms

The 5:00 a.m. AST bulletin from the National Hurricane Center in Miami reported that Hurricane Katia has weakened somewhat. It is now a ...

UPDATE: Killer Typhoon Talas Brings More Misery to Japan

Japan braced for more heavy rain and floods Monday as the death toll from the worst typhoon to hit the country in seven years climbed to ...

UPDATE: ConocoPhillips Apologizes for China Oil Spill

U.S. energy giant ConocoPhillips moved to repair its frayed relations with Chinese regulators on Wednesday, apologizing for an oil spill in ...

Best Special Report Sees Reinvigorated Reinsurance Market

A new special report from A.M. Best found some "hopeful signs" emerging for the global reinsurance industry. "After years of a soft market, ...

Swiss Re Study Forecasts ‘Continued Growth’ for Insurance Linked Securities

According to Swiss Re's study - "The fundamentals of insurance-linked securities" – some 15 years after they were introduced, the "market ...

Travelers UK Names Sawyer Professional Indemnity Manager

Travelers UK branch announced that David Sawyer has been appointed Assistant General Manager responsible for the management of the ...

HSB UK Names Kane Chief Underwriting Officer

Specialist engineering and construction insurer HSB Engineering Insurance Limited has appointed Andy Kane as chief underwriting officer. He ...

Best Affirms Ratings of Lloyd’s Syndicate 958 (Omega); Outlook Stable

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

ARAG Launches UK Divorce Insurance Product

ARAG is launching two new divorce insurance products – Pre-nuptial Legal Solutions and Divorce Legal Solutions – to the rest of the ...
Sponsored Content

Murray Oversees Additional Territories

Irvine, California, September 2011 – The Insco Dico Group announced that Steve Murray, Regional Vice President, now oversees a ...
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What's in a Name? Unitrin CEO Southwell Says A Lot

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Brokering the Hot Cyber Liability Market

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New Discussions in the Forums

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
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

Reader Comments

Connecticut Asks Insurers to Waive Storm Deductibles for Irene Damages
Posted: Tue Sep 6 -- The new vanishing deductible? Curious
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
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
Jury Finds Naval Officer Guilty of Defrauding 9/11 Victims' Fund
Posted: Wed Aug 31 -- I am SO sick of these greedy people. If you didn't earn it, you are NOT entitled to it. Susan
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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