Tuesday 20 December 2011

Daily Headlines: Tuesday, December 20, 2011

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Insurance Journal Daily Headlines
December 20, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Hurricane Forecaster Delays 2012 Prediction Until Spring

Hurricane forecaster William Gray will wait until spring to predict how many storms will form in the Atlantic. Gray and his research ...

Best Puts Fireman's Fund Companies on Review/Negative; Affirms Ratings

A.M. Best Co. has placed under review with negative implications and has also affirmed the financial strength rating (FSR) of 'A' ...

Best Affirms FSR’s; Downgrades ICR’s of Allianz U.S. Units; Ratings on Review/Negative

A.M. Best Co. has affirmed the financial strength rating of 'A+' (Superior) and downgraded the issuer credit ratings (ICR) to "aa-" ...

Get Ready to ‘Face’ the Next Wave in Marketing: Mavatars

The motion picture "Minority Report" gave the audience a look into the future of retail marketing as retina scans were used to project ...

Best Comments on Allianz U.S. Operations Rating Actions

A.M. Best has taken the somewhat unusual step of issuing a comment on its downgrading of the issuer credit ratings (ICR) to "aa-" from ...

Supreme Court Schedules Obama Healthcare Arguments

Oral arguments on President Barack Obama's sweeping U.S. healthcare overhaul will last 5-1/2 hours spread over three days from March 26-28, ...

Financial Services Oversight Rules Possible This Week

The Federal Reserve is expected to release this week a highly anticipated proposal for how it will oversee the largest U.S. banks, a person ...

Administration Grants States Leeway on Health Benefits Package

The Obama administration has rolled out a benefits framework for millions of people who will get private insurance through the health care ...

From MyNewMarkets.com Nursing Claims Costs Rise Again After Falling: CNA Study

After a substantial dip in 2009, insurance claims in the nursing profession are costing more. The average total paid per claim is generally...
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East

Maine-based Workers’ Comp Insurer MEMIC Announces Acquisition

Workers' compensation insurer The MEMIC Group acquired a Vermont-based insurer.The insurer also said it plans to expand its operations in ...

Maurice ‘Hank’ Greenberg Wins Leadership Award From Yale University

Maurice R. Greenberg, Chairman and CEO of Starr Companies, was awarded the Lifetime of Leadership Award from the Yale Chief Executive ...

XL Hires Another ACE Executive for Its New York Team

XL Group's North America primary casualty group appointed industry veteran Jay Lefkowitz to a newly created position of head of U.S. risk ...

Alliant Insurance Services Appoints Vice President in New York Office

California-based specialty insurance broker Alliant Insurance Services appointed Scott Ernst as New York-based vice president of T&H ...
Midwest

Cadwell Named Grinnell Mutual Crop Hail Vice President

Verne Cadwell has been named vice president of the crop hail division at Grinnell Mutual Reinsurance Co. located in Grinnell, Iowa. ...

New Indiana Texting-Driving Ban Yields Few Citations

In its first five months on the books, Indiana's texting-while-driving ban has led to only a few dozen citations by state troopers - a ...

A.M. Best Downgrades Ratings of Austin Mutual Insurance

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

Keystone Insurers Group Adds New Ohio Agency: Evarts Tremaine Flicker

Cleveland, Ohio-based agency, The Evarts Tremaine Flicker Co., has joined Pennsylvania-based Keystone Insurers Group. The agency is the ...
Southeast

Florida’s Citizens Pulls Back on Condominium Rate Hikes for Now

Florida condominium buildings that rent out 25 percent of their units will see no rate increase for now despite playing a key role in the ...

Former South Carolina Governor’s Brother Denies Liability for Pool Drowning

The brother of former Gov. Mark Sanford and his wife deny they are liable for the death of a 6-year-old boy found dead in a pool during a ...

Digital Insurance Acquires South Florida's Kellogg Smith

Digital Insurance has acquired Kellogg Smith as part of a plan to increase its presence in Florida. The addition of the Miami-based Kellogg ...

West Virginia AG Sues Insurer, Auto Repair Shop

West Virginia Attorney General Darrell McGraw said last week that his office has sued Liberty Mutual Insurance Company and an auto repair ...
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South Central

Johnson Elected to Lead Insurance Council of Texas Board

The Insurance Council of Texas (ICT) has elected Joe Johnson chairman of the board of directors beginning Jan. 1, 2012. Johnson is vice ...

Wildfires Destroy Half a Billion Trees in Texas in 2011

As many as 500 million trees scattered across the Lone Star State have died this year as a result of the unrelenting drought, according to ...

Texas Mutual Pays Combined $690K to 4 Safety Groups

Texas Mutual Insurance Co. announced that four workers' compensation safety groups have earned a combined $690,036 in dividends: Texas ...
West

Honolulu Rail Authority Reconsidering Insurance Program

Honolulu's rail authority is considering ditching an insurance program that was supposed to save the city $20 million. The program would ...

10,000 Gallons Of Sewage Spills Into Central California Creek, Ocean

A power outage has sent about 10,000 gallons of sewage into a California central coast creek and to the Pacific Ocean. San Luis Obispo ...

Eastern Oregon Man Dies When Train Strikes Grader

A Umatilla County employee was killed when a train struck the road grader he was operating to spread gravel. The East Oregonian reports. ...

Arson Causes $100,000 Damage to Yakima School

Someone broke into Robertson Elementary School early Sunday in Yakima, Wash. and set fire to the library. KNDO reports many books were ...

Arson At Washington Hair Salon

The Shoreline Fire Department in Washington says the fire that damaged a hair salon Sunday night was set. The fire was extinguished in ...

Small Plane Lands on Busy Colorado Street Near Mall

The pilot of a single-engine plane managed to safely land on a major street in the northern Colorado city of Longmont after having engine ...
International

Swiss Re Sees Continued Emerging Market Growth; Profitability Squeeze

Insurance in emerging markets has "experienced strong growth over the past decade and the outlook for the next decade remains promising," a ...

AIR Analyzes Tropical Storm Washi’s Impact on Philippine’s Mindanao

According to catastrophe modeling firm AIR Worldwide, Tropical Storm Washi pummeled the northern part of the Philippine island of Mindanao ...

Storm Joachim Hits Northern Europe; AIR Sees No ‘Significant’ Losses

Catastrophe modeling firm AIR Worldwide, has reported on winter storm Joachim, which developed over the Atlantic and became a severe ...

IAG’s Malaysian Associate, AmG, Seeks to Acquire KurniaIAG

Insurance Australia Group Limited announced that its 49 percent-owned Malaysian associate, AmG Insurance Berhad, "has submitted for local ...

Best Upgrades Swiss Re’s Ratings to ‘A+’; Outlook Stable

A.M. Best Co. has upgraded the financial strength rating (FSR) to 'A+' (Superior) from 'A' (Excellent) and issuer credit ratings (ICR) to ...

Best Affirms Lloyd's Syndicate 2001 Ratings; Amlin AG, Amlin plc; Outlook Stable

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

Ratings Recap: Brit, Ecclesiastical

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

Starr Expands Offerings Through Acquisition

Starr International Co. has acquired Assist-Card International Holdings S.A. and expanded its offerings to include travel and emergency ...
Sponsored Content

Mike Mathews Named President and Chief Operating Officer of Atlas General Insurance Services

San Diego, CA, 12/20/2011 – Mike Mathews has been named President and Chief Operating Officer of Atlas General Insurance Services, a ...
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Swiss Re Chief Economist Analyzes Current Market Conditions

Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces,...
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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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New Discussions in the Forums

LBPS, Seterus, QBE, IBM-LBPS
Posted: Tue Dec 20 -- Wonder if any one else here has had severe issues with certificates of insurance demanded by any of the above entities which are the same... CIScommercial
Are Insurance Agents Employees or Independent Contractors?
Posted: Mon Dec 19 -- Our agency has always treated its sales agents as 1099 Independent Contractors. The owner, however, has always said that if the IRS were to... threed
Mercury Insurance Question (CA)
Posted: Mon Dec 19 -- It usually does with Mercury. But Mercury writes business under at least 3 different company names in California, and polices change from... bwjames
Agency Management System
Posted: Sat Dec 17 -- "Michael, As another independent consultant, I do want to point out that most of the vendors, and the two... pita3333
Ex-Real Estate Marketer Seeks Career Change into Insurance
Posted: Fri Dec 16 -- Hey all - the original post was from January 2008! Mark if you're out there why not let us know what you decided to do? NYagent301
Security training traveling to Saudi Arabia (life, health)
Posted: Wed Dec 14 -- I have a security firm in Texas sending employees to Saudi Arabia for 6-8 weeks as instructors for a specific training contract. They want... tailor333
How do you ask for a referral?
Posted: Tue Dec 13 -- Based on my own experience, I usually got referrals when I contact clients to tell them their policy has been issued. They are usually... sethm

Reader Comments

The Next Big Thing in Insurance Coverage Is Here
Posted: Tue Dec 13 -- Chartis (AIG) ...reputation risk..... think about it and it is kind of funny. jtownagent
N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates
Posted: Thu Dec 15 -- I don't suppose they would do a study on the harm lawyers do to the public and insurance rates for slip & fall & products lawsuits that have... Brian
SF Bay Area Chuck E. Cheese Restaurants Fined
Posted: Thu Dec 15 -- Yes, by all means we need to protect the chilren from operating a dough mixer! Nanny-state at it again. krenem
Canada Pulls Out of Kyoto Climate Change Protocol; First Country To Do So
Posted: Tue Dec 13 -- They didn't pull out because they think manmade global warming is a myth. They pulled out because China and India are not playng by the same... The Other Point of View
Progressive to Pay $125K Fine in Massachusetts‎
Posted: Tue Dec 13 -- I think they negotiated pretty well with the state. I would have thought it would be in the millions. Perhaps they thought they could skirt... Veteran Agent

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