Wednesday 7 December 2011

Daily Headlines: Wednesday, December 7, 2011

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Insurance Journal Daily Headlines
December 7, 2011
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Today's Headlines

National

Supreme Court to Hear Personal Medicine Patent Dispute

The Supreme Court hears arguments on Wednesday over whether Prometheus Laboratories may patent instructions for observing changes in a ...

Graduated Driver Licensing Could Save 2,000 Lives, $13.6 Billion: Study

If all states implemented comprehensive graduated driver licensing (GDL) laws, an estimated 2,000 lives could be saved. Further, if all 50 ...

GM Close to Possible Volt Battery Fires Fix

General Motors Co. is closing in on a package of proposed fixes for the Chevrolet Volt battery pack that engineers believe would eliminate ...

Markel to Acquire Program Administrator Thomco

Richmond, Virginia-based specialty insurer Markel Corp. is acquiring Thompson Insurance Enterprises, a national program administrator that ...

P/C Insurers Lost 900 Jobs in October, Labor Department Data Shows

Property/casualty insurers lost 900 jobs overall in October, according to latest government data. But insurers in other segments did ...

Best Downgrades Wisconsin Re’s Ratings; Revises Outlook to Negative

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

Ryan Specialty Announces New Transactional Liability Facility

A subsidiary of Ryan Specialty Group will administer a new transactional liability and tax insurance facility after entering new trading ...

Greenberg Honored for China-U.S. Relations

The China General Chamber of Commerce – U.S.A. has honored Maurice R. Greenberg for his contributions toward U.S. and China exchanges. ...

Conning Names Bradford CEO

Conning Inc. has apppointed Woody E. Bradford as CEO of Conning. The appointment takes effect Jan. 2, 2012. Bradford succeeds Salvatore ...

5Star Specialty Programs Expands Auto Dealer Product

5Star Specialty Programs has expanded its Auto Dealers program to 43 states. With these new markets, the coverage is nationwide, except in ...

From MyNewMarkets.com Data Breaches in Healthcare Industry Lead to New Coverages

Insurance carriers are seizing opportunities in the healthcare industry, where huge data security breaches appear to be happening on a...
A Unique Perspective on Construction, Occupancy, Protection & Exposure (COPE).
East

Travelers CEO Says His Company’s Business Insurance Rates Up Over 5%

The Travelers Companies CEO Jay Fishman said at a financial conference yesterday that his company raised rates for business insurance ...

$5M in Aid Approved for Louisa County, Virginia, Quake Victims

Federal disaster aid approved for earthquake-related damage in Louisa County has topped $5 million. Federal and state emergency officials ...

CNA Appoints Commercial Underwriting Officer in Boston

CNA Financial Corporation appointed Charles O'Donnell as commercial underwriting officer for its Boston branch office. In this position, ...

Strategic Insurance Agency Alliance Adds Six Member Agencies in East

The Strategic Insurance Agency Alliance (SIAA) added six new member agencies in the East region in November. The new member agencies are: ...
Midwest

New Study Pushes Tougher Iowa Teen Driving Rules

A new study says tougher restrictions on Iowa's teenage drivers could have saved the lives of 32 young drivers in 2009. The Des Moines ...

Ambrose Joins Hylant Group's Executive Risk Practice in Chicago

Privately owned insurance brokerage firm Hylant Group, headquartered in Toledo, Ohio, has added Lynn Ambrose to its executive risk ...

Longueil Named Sales Executive at Risk Sciences Group in Illinois Office

Risk Sciences Group, a provider of risk management information systems (RMIS) and related analytics services, has named Kathy Longueil ...

SIAA Signs 5 Agencies in Midwest

The Strategic Insurance Agency Alliance (SIAA) in November added five new member insurance agencies located in the Midwest. Nationally, the ...
Southeast

Florida Agents Concerend About Homeowners Choice Contract

Independent agents in Florida are concerned that an appointment contract offered by a Florida homeowners insurer that recently assumed ...

Firm to Pay $209M Over West Virginia Blast That Killed 29

Coal miner Alpha Natural Resources has agreed to pay $1.5 million to each of the families of 29 miners killed in an explosion at the Upper ...

South Carolina Court Throws Out Claims Over Softball Game Injury

People playing contact sports assume the risk they will be injured, South Carolina's Supreme Court ruled this week, upholding a lower ...

Florida’s Citizens Insurance Says Legislation Needed for Real Change

Florida's largest homeowner insurer is offering a slate of coverage changes, but concedes that without legislative changes there will be ...
South Central

Texas Insurance Fraud Prosecutor Receives National Award

Kyson Johnson, Texas' only dedicated insurance fraud prosecutor, has been named 2011 Prosecutor of the Year by the Coalition Against ...

SIAA Adds 2 South Central Agencies

The Strategic Insurance Agency Alliance (SIAA) in November added two new member insurance agencies from South Central states. Nationally, ...

Risk Sciences Adds McCalister as Sales Executive in Dallas

Risk Sciences Group, a provider of risk management information systems (RMIS) and related analytics services, has named Cal McCalister ...
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West

Risk Management Agency Starts Olive Program in 12 California Counties

The U.S. Department of Agriculture's Risk Management Agency on Wednesday announced a new pilot insurance program for table and oil olives ...

Statewide Expands into Washington with Contractor Insurance Services

Statewide Insurance Brokers, a provider of contractors insurance for general liability, workers compensation, commercial vehicle coverage ...

Festa Named Vice Chair of California Insurance Guarantee Association Board

Stephen V. Festa, senior vice president and chief claims officer for Employers Insurance Company has been named vice chair to the board of ...

Statewide Brings Contractors Coverage to Washington

Statewide Insurance Brokers has expanded its coverage for contractors into the state of Washington. The company plans to enter the state ...

Abacus Selects Golden Bear to Back Earthquake Program

Golden Bear Insurance Company will be the carrier for an online residential earthquake deductible buyback program from Abacus Insurance ...
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International

Lloyd’s Report Finds Customer Loss, Staff Shortages as Business’ Top Fears

Losing customers and struggling to find talented workers are the top two risks facing business leaders across the world, according to a new ...

Latest Analysis Concludes Foreign Insurers Missing Out on China Party

Ten years ago, foreign insurers were lining up to celebrate China's entry into the World Trade Organization, eager to tap what was certain ...

Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers

Aon Benfield's Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that ...

Natural Disaster in China Would Severely Disrupt Global Supply Chains

A natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply ...

Chinese Court Rejects Apple Lawsuit over iPad Name

A court in southern China has rejected a lawsuit by Apple Inc, accusing a Chinese technology company of infringing its iPad trademark, a ...

Ratings Recap: China Taiping (NZ), Ansvar (NZ), Nationale Suisse

A.M. Best Co. has affirmed the financial strength rating of 'B++' (Good) and issuer credit rating of "bbb" of China Taiping Insurance ...

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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

High Value Personal Auto
Posted: Mon Dec 5 -- Chubb does write monoline auto. Their rates are high on regular vehicles but for high value vehicles, they are good. debbie
Batch Clause undre 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
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

Iowa Man Won't Get $10.6M Malpractice Award
Posted: Mon Dec 5 -- haha...holy crap. if you need more evidence that our judicial system is broken, please read that article again. #1, guy gets insane... George
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
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 -- Fwank should be in jail. Realist
Attorney Says Man Innocent in Wal-Mart Incident, May Sue
Posted: Fri Dec 2 -- It isn't shoplifting unless you leave the store with it. I've seen little old ladies use their purses to carry things around to free up... DD72

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December 5, 2011

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