Friday 2 December 2011

Daily Headlines: Friday, December 2, 2011

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Insurance Journal Daily Headlines
December 2, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Property Insurance Rates on the Rise: Marsh

Nearly half of the U.S. property insurance policies renewed in the current quarter have been at higher prices, brokerage Marsh said on ...

Turning Construction Red Flags into Opportunities

The role of an agent or broker as a trusted advisor to contractor clients is more important than ever given today's challenging business ...

Judge Dismisses Lawsuit Non-U.S. Claims Against Toyota

Toyota Motor Corp has won the dismissal of a U.S. lawsuit brought by vehicle owners in 14 other countries who said their Toyotas lost value ...

Aon to Close Agency Specialty Product Network (ASPN) by Year’s End

Aon is closing down Agency Specialty Product Network (ASPN), a subsidiary, by the end of the year. "Aon values the long-term relationships ...

Are You Prepared for the Changing Insurance Market?

In today's personal property/casualty insurance market, agents and brokers face increasing uncertainty. Staying the course is no longer ...

In Slow Economy, Injured Workers May Find It Harder to Return to Work

A new report from Workers Compensation Research Institute says some injured workers may face even greater challenges in returning to work. ...

From MyNewMarkets.com Insurers Strive to Educate Cash-Strapped Schools on Coverage Options

With many public schools facing budget cuts and private schools experiencing a reduction in donations and enrollment, property/casualty...
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East

New Jersey Declared Disaster Area for October Snowstorm

President Obama has issued a major disaster declaration for New Jersey for the late October snowstorm that played havoc with roads, trees ...

Maryland To Hold Hearing on Insurance Affordability for Coastal Areas

Maryland Insurance Administration will hold a two-day quasi-legislative public hearing, on Dec. 13 and 14, to discuss the availability and ...

Penn.-based Broker KMRD Partners Acquires General InsurCorp

KMRD Partners, a Warrington, Penn.-based risk management consulting firm and property/casualty insurance broker, has acquired assets of ...

Investment Firm AssuredPartners Acquires N.Y.-based Agency SKCG Group

AssuredPartners, a portfolio company of Chicago-based private equity firm GTCR, has purchased SKCG Group, a White Plains, N.Y.-based ...
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Midwest

Nebraska Health Providers Urge State-based Insurance Exchange

Nebraska should not wait for the U.S. Supreme Court to rule on the Obama administration's health care overhaul before it prepares a ...

Repairs to Kansas Bridge Hit by Truck to Cost $300K

Kansas transportation officials estimate it will cost about $300,000 to repair a Wichita bridge that was damaged when it was hit by a truck ...

Ohio Man Sentenced for Workers' Comp Fraud

A Sharonville, Ohio, man has been sentenced in court for working as a cable installer while receiving workers' compensation benefits. ...
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Southeast

Part of Mississippi Healthcare Suit Placed on Hold

A federal judge has put on hold portions of a Mississippi lawsuit against Obama administration's health care law. U.S. District Judge Keith ...

North Carolina Law on Electronics Coverage to Take Effect

North Carolina companies that sell portable electronics coverage will soon be able to offer insurance under a new state law that is due to ...
South Central

Texas Man Accused of Drowning $1.2M Sports Car for Insurance

The insurer of a $1.2 million sports car that plunged into a Galveston Bay lagoon two years ago says the owner deliberately drove into the ...

State Farm Hikes Homeowner Policy Rates, Deductibles in Texas

A new insurance commissioner has allowed State Farm to charge higher rates and deductibles in Texas. State Farm Insurance on Dec. 1 was ...

Arkansas Regulators no Longer Pursuing State-run Health Insurance Exchange

Arkansas Insurance Commissioner Jay Bradford has announced that planning efforts for an Arkansas-run health benefits exchange have ended. ...

Broadspire Launches Workers' Comp Health Care Network in Texas

Broadspire, a third party administrator (TPA) and medical management services provider, announced it has launched its workers' ...
West

Bell-Anderson in Washington Acquires Cornelius Insurance

Renton, Wash.-based Insurance provider Bell-Anderson Agency Inc. has acquired Cornelius Insurance of Newman Lake, Wash. Cornelius' owner, ...

Storm Blocks Last Pre-Winter Fuel Delivery to Nome

The residents of Nome, Alaska, could be looking at a very costly winter: $9-a-gallon gasoline. The coastal city of more than 3,500 ...

Strong Winds Downed Trees and Power Lines in West

Some of the worst winds in years blasted through California this week, with the brunt off the gusts felt overnight on Wednedsday, sweeping ...

$79k EPA Fine for Nevada Company's Hazardous Waste Facility

Federal environmental regulators have fined a Nevada company $79,500 for mishandling the storage of hazardous waste at a facility in ...

Camelina Crop Insurance Available in Selected Montana Counties

The U.S. Department of Agriculture has announced a pilot program to provide crop insurance for camelina in selected counties in Montana and ...

Two in Critical Condition After San Francisco Apartment Fire

San Francisco fire officials say two people are in critical condition after a two-alarm fire broke out at an apartment building in the ...

Investigators Looking Into Boeing Field crash

The National Transportation Safety Board is investigating the Wednesday night crash of a small plane at Boeing Field in Seattle, Wash. The ...

USDA Sets up Pilot Program to Insure Biofuel Crops

The U.S. Department of Agriculture's Risk Management Agency will insure camelina through a pilot program in 2012.  It will be ...
International

Swiss Re Economists See Weak Growth; Some Market Hardening; EU Peril

Swiss Re presented its latest analysis of the global economic outlook and its potential impact on the insurance industry at an economic ...

Stormy Sun Could Knock Out Power Grids: Allianz

An upcoming cycle of stormy solar activity risks causing damage to electrical transformers and threatening vulnerable energy infrastructure ...

DUAL Starts Specialty Reinsurance Business

DUAL Corporate Risks has launched Tamesis DUAL, a specialty excess-of-loss reinsurance business with capacity from Lloyd's. Tamesis DUAL ...

Dallamore Joins Howden as Consultant in Asia

Howden Broking Group, the broking arm of Hyperion Insurance Group, has appointed Brian Dallamore as a non-executive director of the board ...
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Insurance Journal TV

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Interesting Times in Medical Liability

The medical liability market continues to perform well even as the nation struggles to...
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Pat Ryan Asks, 'Are You Happy?'

Patrick Ryan is an innovator who sees opportunity. And it was opportunity that drove him to...

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New Discussions in the Forums

Batch Clause under Products Liability
Posted: Fri Dec 2 -- Submit the claim to both insurance carriers and let them figure it out. That's their job. Big Dog
High Value Personal Auto
Posted: Thu Dec 1 -- You should be able to use Hagerty for that situation justthere
Start up Agency Advice
Posted: Thu Dec 1 -- Of the total students coming through the school I would estimate: Approx 85% would be new drivers - 75% 16 yrs old - 20% 18-21 yrd old - 5%... gregm21
QuickBooks
Posted: Thu Dec 1 -- I have used QB online for 12+ years for agency bill, direct bill, payroll, CC acceptance etc. The ease of use, accessible from anywhere via... mhutch69
How do you ask for a referral?
Posted: Thu Dec 1 -- I read an article recently that posed the question 'Are you a referral wimp?'. It went on to list the common excuses for not asking for a... FactsofLife

Reader Comments

U.S. Rep. Barney Frank of Massachusetts Won't Seek Re-election
Posted: Mon Nov 28 -- THANK GOD! Bwarney Fwank was half to blame for the housing collapse and Freddie and Fannie Mae's boon doggle for all tax payers. Good... Sarah
Massachusetts Enacts Law on Credit Ban for Auto Insurance
Posted: Tue Nov 29 -- "much-needed protection against an unfair, unreliable, and discriminatory rate-setting practice" Unpopular, yes, but the correlation exists... GL Guru
Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K
Posted: Wed Nov 30 -- "John Cornish told the Ravalli Republic for a story published Monday that people should know riding a bike at night in winter is a little... Always Amazed
Insurance Groups React to Rep. Barney Frank's Retirement Announcement
Posted: Wed Nov 30 -- What a surprise, that the insurance lobbyists praise Frank one of the most incompetent regulators of all time. Frank allowed the financial... Systemic risk
Geithner Hits Attempts to Weaken Wall Street Reforms
Posted: Thu Dec 1 -- Geithner has ZERO credibility since He was appointed. Anyone that overlooks paying $35,000 in taxes has no business being involved in... Steve Shults

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