Thursday, August 25, 2011

Daily Headlines: Thursday, August 25, 2011

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Insurance Journal Daily Headlines
August 25, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Hurricane Irene Batters Bahamas, Threatens Carolinas, Northeast

Hurricane Irene washed away homes in the Bahamas Thursday as its battering winds and rain headed toward the U.S. eastern seaboard including ...

Banks in Liability Bind as States Splinter Over Mortgage Settlement

Large U.S. banks defending themselves against a mass of state and federal mortgage probes face a difficult tactical decision following New ...

Is It Time to Consider Earthquake Insurance?

Earthquakes and California go together. Or at least that's what most of the country thought until Tuesday's East Coast earthquake centered ...

Earthquake Insurance Premiums by State

An East Coast earthquake? Suffering damage from a seismic shift isn't a risk many homeowners outside of California worry about. Most ...

How to Reduce Roof Leak Damage Caused by Hurricanes

Wind-driven water like that occurring during Hurricane Irene penetrates openings in residential roofs but roof deck seams can be sealed to ...

Transatlantic’s Largest Shareholder Opposes Allied Deal

The largest shareholder in reinsurer Transatlantic Holdings Inc will oppose the company's acquisition by Allied World, opening the door to ...

Ealy In, Young Out as President at Allstate’s Encompass

Allstate Insurance Co. said Thomas V. Ealy will become president of its independent agency unit, Encompass Insurance, on Sept. 12. Ealy ...

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...
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East

Threat of Irene Exposes New York’s Vulnerability

In the annals of natural disasters, it doesn't get much worse than a major hurricane directly striking New York City and Long Island. ...

Fatal Crash Spotlights New Jersey’s Teen Driving Law

A New Jersey law barring drivers under 18 from having more than one passenger is in the spotlight after an SUV driven by a 17-year-old and ...

AIC Holdings Appoints Purdy President, CEO of Underwriters

AIC Holdings appointed Robert G. Purdy to president and CEO of AIC Underwriters, based in Philadelphia, PA.  Purdy will be responsible for ...
NEXT WEEK: Avoiding The Top 5 Mistakes Made When Hiring Producers
Midwest

Michigan Lets Drivers Renew Licenses Online Close to Expiration

A new state policy will let Michigan drivers renew their vehicle registrations online through their birthdays even if they do it close to ...

Stacey Named CEO of Ohio's Britton-Gallagher & Assoc.

Lee Stacey has been appointed president and chief executive officer of Britton-Gallagher & Associates Inc., one of Ohio's largest ...

Illinois Granted $5.1M for Insurance Exchange

The Illinois Department of Insurance has been awarded a $5.1 million federal grant to develop and maintain a health insurance exchange ...

Insurance to Pay Part of Joplin Schools’ $30M Tornado Cost

The Joplin School Board has begun paying the massive bills caused by destruction from the May 22 tornado. The school board approved payment ...
Southeast

Hurricane Irene a Test for North Carolina Island Evacuation Plan

With Hurricane Irene approaching, evacuations began on a tiny barrier island off North Carolina early Wednesday in what would be a test of ...

North Carolina Property Insurance Surcharges Unlikely After Irene

Every property owner in North Carolina has a financial stake in the damage risk posed by Hurricane Irene, which could become the first to ...

Kentucky Supreme Court Asked to Review Damages for Fetus Death

The Kentucky Supreme Court is being asked to review a lawsuit seeking damages for the death of an early-term fetus in a car crash. The ...
South Central

Texas Medical Liability Trust to Reduce Rates, Pay 18.5% Dividend

Texas Medical Liability Trust announced a rate reduction for TMLT policyholders and an 18.5 percent dividend for renewing policyholders, ...

Company Ordered to Pay $300K to Texas Mutual Insurance

Texas Mutual Insurance Co. reported that Bar H Concrete Inc. of Sulphur Springs pleaded guilty to workers' compensation fraud-related ...

Paul Davis National Names Swiggum as President

Paul Davis National, the large loss specialists for Paul Davis Restoration, has named Lloyd Swiggum as president of the company. Based in ...

'Friday Night Lights' Star Featured in PSAs Supporting Texas Firefighters

Actor Kyle Chandler has taped public service announcements for Texas volunteer fire departments needing money after an intense year of ...
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West

California Court Denies Appeal of Closely-Watched Workers’ Comp Case

The California Supreme Court has rejected an appeal of a case many workers' compensation insurers and businesses were hoping would be ...

Colorado Jostled with Earthquake Aftershocks

Colorado has been jostled with 13 aftershocks after Monday night's magnitude-5.3 earthquake struck just hours before a magnitude-5.8 ...

Idaho Cities Consider Going Self-Insured for Employees

TWIN FALLS, Idaho  _ Leaders from at least 40 Idaho cities are considering a plan to offset the rising cost of health insurance by ...
International

Profits Soar at Australia’s IAG, but Outlook Hits Shares

Insurance Australia Group, Australia's top home and car insurer, reported a more than two-fold jump in annual net profit on Thursday but ...

Willis, ACE Team-up for First ‘e-Accounting’ Processing in London Market

ACE's London based operations have teamed up with Willis Limited, the UK insurance broker, to successfully launch a fully electronic ...

ACE Expands Environmental Team in London

ACE announced the appointment of two new Environmental Risk Underwriters to its London based Environmental Liability team - Robert Wade and ...
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What's in a Name? Unitrin CEO Southwell Says A Lot

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New Discussions in the Forums

Book recommendation for starting an agency?
Posted: Thu Aug 25 -- Does anyone have recommendations for books or other reading material that provide insight into the do's and dont's of running an insurance... John J90
Homeowners w/o Social Security #
Posted: Wed Aug 24 -- Insurance agents and brokers are prohibited from engaging in transactions that involve: individuals, entities, or vessels appearing on... darnovak
GMAC Auto in CA
Posted: Wed Aug 24 -- We have been approached by them to get an appointment. We are in Ca, any info would be appreciated. What are their strongpoints? How is the... JAM
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
Retail to Wholesale???
Posted: Wed Aug 24 -- I started on the retail agency side and was offered a job with a wholesaler. I have been on the wholesale side for over 20 years and has... E&Salltheway
Merchant Services
Posted: Wed Aug 24 -- I am surprised that no one has responded to this post. I wanted to get feedback before I decide which way to go on this service. I'm sure a... saabins

Reader Comments

Group of Allstate Agents Votes to Unionize
Posted: Thu Aug 18 -- It seems like Senior management should be concerned with a situation that required their agents to affliate with a union. Whats to stop the... Bob
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
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
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

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