Friday, August 26, 2011

Daily Headlines: Friday, August 26, 2011

Insurance Journal Daily Headlines
August 26, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

hurricane irene What specific actions is your firm taking to be in position to deal with claims from Hurricane Irene?
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National

East Coast Cities, Resorts Prepare for Irene

North Carolina braced Friday for a direct hit from Hurricane Irene, cities along the U.S. east coast were on alert and millions of beach ...

Buffett's Berkshire Hathaway Shores Up Bank of America with $5 Billion

Warren Buffett will invest $5 billion in Bank of America Corp., stepping in to shore up the largest U.S. bank in the same way he helped ...

Is 'Old' East Coast Prepared For a Powerful Earthquake?

There was a crack in the Washington Monument, and capstones were broken at the National Cathedral. In the District of Columbia suburbs, ...

Why Thieves Prefer Cadillac Escalade

The Cadillac Escalade, a top pick of the rich and famous ranging from Hollywood celebrities to Wall Street executives, is also the favorite ...

Top 10 Most, Least Stolen Vehicles and Loss Payments

The Cadillac Escalade luxury SUV is the vehicle most likely to be targeted by thieves, according to the Highway Loss Data Institute, an ...

East Coast Earthquake: Fear, Damage Mixed with Relief, Teasing

For a few minutes from Georgia to Maine, the question rang out: What was that? The answer — a rare East Coast earthquake, magnitude 5.8 ...

LexisNexis Insurance Exchange Connects With Assurex Global's Technology Platform

LexisNexis Risk Solutions has partnered with one of the largest networks of independent agencies and brokers to offer interconnectivity ...

XL Names Beauregard to Lead E&S Property Unit

XL Insurance named Ronald E. Beauregard Jr. as senior vice president and chief underwriting officer for its excess and surplus (E&S) ...

Chartis Partners with Crisis Management Firm for Kidnap, Ransom Cases

Chartis will enter into a contractual agreement with NYA International Limited (NYA), a kidnap and extortion response consultancy.  ...

Even If Irene Stays Offshore, Insurance Claims Could Be Significant: Willis

While it's still unclear if Hurricane Irene will make landfall or stay offshore the East coast this weekend, a storm its size can create ...

From MyNewMarkets.com Event Cancellation Coverage for UK Riots Rarely Applicable

"Most of the events cancelled were due to the police being need elsewhere," said Simon Lyons, contingency underwriter at London-based...
East

Northeast Likely to Suffer Significant Damage from Irene

Hurricane Irene is likely to cause more insured losses in the Bahamas than 1999's devastating Hurricane Floyd, catastrophe modeler AIR ...

New York Coastal Residents Urged to Move Out of Irene's Way

New Yorkers living in low-lying areas should think about moving out Friday before Hurricane Irene hits the city of 8.4 million people, ...

Pennsylvania Family Settles Gas Drilling Claim

A western Pennsylvania family has settled its lawsuit over claims its drinking water was polluted and home value wiped out by natural gas ...

Costco 'Slurpee Slip and Fall' Suit Stays in New York

A 74-year-old woman who said she was injured after falling in a Costco store in Florida beat back the retailer's effort to move the case to ...

Massachusetts Man Awarded Damages in Suit Over Art Heist

A U.S. jury has found in favor of the plaintiff in a Massachusetts lawsuit filed in connection with a 1978 art heist. The jury awarded ...

Pittsburgh Officer Put on Leave over Fraud Charges

A Pittsburgh police officer, already disciplined for his conduct during an off-duty vehicle crash, has been put on paid leave after county ...

Two to be Sentenced in Rhode Island Insurance Scheme

A federal judge is set to sentence a former Rhode Island politician and an ex-radio host for their roles in a $40,000 home insurance fraud ...

Most Maryland Homeowner Policies Don't Have Quake Coverage

Most Marylander homeowners aren't likely to be covered for earthquake damage under their homeowner's policies. The Insurance Information ...
NEXT WEEK: Avoiding The Top 5 Mistakes Made When Hiring Producers
Midwest

Wisconsin Study: Health Care Overhaul Will Insure Many More

The federal health care overhaul signed into law last year will drastically cut the number of uninsured Wisconsin residents by 2016 but ...

Joplin's July Building Permits Total $51.7M

Rebuilding from the devastating tornado in Joplin, Mo., apparently has begun in earnest. The city issued 1,570 permits for residential and ...

Ohio High Court: 'Start Action' Rule in Homeowners Policy Not Ambiguous

The Supreme Court of Ohio has ruled that when read in context with other policy language, a provision in a homeowner's insurance policy ...
Southeast

Kentucky Jury Sides with Doctor In Penis Amputation Malpractice Claim

A Kentucky truck driver who was wheeled into surgery for a simple circumcision but awoke without part of his penis has lost his ...

U. of South Alabama Sued Over Football Program Firing

A former employee of the University of South Alabama football program has accused the school in a federal lawsuit of firing him on ...

Insurer Group Names Jackson as Southeast Lobbyist

The insurer group, American Insurance Association, has hired Ron Jackson to serve as its southeast region assistant vice president for ...
South Central

Louisiana's Suit Against Katrina Whistleblowers Dismissed

A federal judge on Aug. 24 dismissed a lawsuit by the state of Louisiana accusing two self-described whistleblowers of illegally copying ...

Oklahoma Workers' Comp Overhaul Now in Effect

Legislation overhauling the Oklahoma workers' compensation laws becomes effective today, Aug. 26, 2011. The Oklahoma Workers' Compensation ...
West

California Insurance Department Wins Case Involving Executive Life

California Insurance Commissioner Dave Jones announced today a victory for California consumers after a California state appeals court ...

Colorado Residents Assess Quake Damage

DENVER  _ Southern Colorado residents assessed damage to homes and businesses Wednesday from a magnitude-5.3 quake, the state's biggest ...

More Montana Counties Added to Federal Disaster List

BILLINGS, Mont.  _ Homeowners and businesses in fifteen more Montana counties and the Fort Peck Reservation can apply for federal help to ...

Propel Hires Sales Executive

Tacoma, Wash.-based Propel Insurance has announced that it has hired Diane Winchester as a sales executive. Propel is a private insurance ...
International

Irene Causes Extensive Property Damage on Smaller Islands in the Bahamas

Large and powerful Hurricane Irene roared across the Bahamas archipelago on Wednesday, knocking down trees and destroying homes on a path ...

Willis Acquires Polish Broker to Expand Employee Benefits, Construction

Willis Europe B.V., a division of Willis Group Holdings plc, has acquired 100 percent of the shares of Polish insurance broker, Brokerskie ...

UK Travel Insurer Columbus Direct Expands into German Market

UK travel insurer Columbus Direct, which is part of the Collinson Insurance Group, announced the expansion of its range of low cost travel ...

Bermuda's Catalina Holdings to Acquire Residential Loss Control Holdings

Catalina Holdings (Bermuda) Ltd. has announced that its wholly owned subsidiary, Catalina Echo Limited, signed a definitive merger ...

Best Affirms China Re and Subs 'A' Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and the issuer credit ratings of "a" of China Reinsurance ...
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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

Advice Needed - CA comp market
Posted: Fri Aug 26 -- agreed. that should work for you Safalex
Homeowners w/o Social Security #
Posted: Thu Aug 25 -- Ditto...good info! OldIndyAgent
GMAC AUTO IN CA
Posted: Thu Aug 25 -- I have found them to be an overall good company, with very easy web systems for sales and service and a very responsive agency service... d's insurance store
Insurance agencies for sale ?
Posted: Wed Aug 24 -- Thanks keep the idea's coming CoJones
CA Auto paperwork retention
Posted: Wed Aug 24 -- Just wondering what sets of signed docs does eveyone keep on file for auto policies in CA? JAM
Intetested in hearing from independent agent associations
Posted: Wed Aug 24 -- There are a couple of prior posts in this formum that might be helpful under "Re: Looking for an opinion" and "Re: New Insurance agency... jtownagent
Online Auto Insurance Quote Process
Posted: Wed Aug 24 -- Darnovak is right. Getting quotes online is not that reliable since insurance companies would just quote you for the default coverage.... London946

Reader Comments

Alabama Funeral Home to Pay $1 Million for Body Mixup
Posted: Tue Aug 23 -- this sounds excessive for a innocent mistake. so the families can get rich and don't have to work just because of a simple mistake. agree,... wudchuck
Chicago Must Hire 111 Black Firefighters; Distribute $30M in Back Pay
Posted: Fri Aug 19 -- Why bother to have a test if you can't take the highest test scores. MI agent
Marsh Executive Sues Spitzer for $60 Million Over Slate Column
Posted: Mon Aug 22 -- Does anyone remember if Spitzer was ever prosecuted or convicted for his hiring of hookers? K D Qurick
Starbucks Settles Discrimination Suit Over Fired Dwarf Barista
Posted: Fri Aug 19 -- I think this is a little short sighted of Starbucks. back at you

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