Tuesday, August 23, 2011

Daily Headlines: Tuesday, August 23, 2011

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Insurance Journal Daily Headlines
August 23, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Hurricanes May Be Catalyst for Insurance Rate Increases

Hurricane Irene, threatening to become the first hurricane to hit the United States in three years, could be the catalyst the insurance ...

Year Old Gulf Oil Spill Claims Fund Has Paid $5 Billion

The Gulf Coast Claims Facility set up to handle claims from the BP oil disaster has paid out $5 billion after one year of operation. It has ...

Insurance Technology Vendor Vertafore Acquires Kaplan Compliance Unit

Insurance agency technology vendor Vertafore said that its subsidiary Sircon will acquire Indianapolis, Indiana-based Kaplan Compliance ...

Judge Allows Investors, Insurers to Intervene in Bank of America Settlement

A New York state judge granted the request of dozens of investors including pension funds, insurers and several Federal Home Loan Banks to ...

Monitor Liability Managers Introduces Employed Lawyers E&O Insurance

Monitor Liability Managers, LLC has introduced a new employed lawyers professional liability (ELP) insurance program. The product provides ...

From MyNewMarkets.com Banks Seek Liability Shield for Future Home Mortgages

U.S. banks still wrestling with legal troubles springing from the subprime mortgage crisis are lobbying the new consumer agency for strong...
THIS WEEK: Construction Bonds
East

Connecticut Court Rules on Guaranty Fund Role in Workers’ Comp Claims

The state insurance guaranty fund can be considered the last insurer on a workers' compensation risk that has multiple insurers and be ...

Former New Jersey Regulator Joins Board of Community Bank

A former New Jersey banking and insurance regulator has been named to the North Jersey Community Bancorp board of directors. Steven M. ...
THIS WEEK: Top 10  Things Agents do Everyday - But Shouldn't
Midwest

CNA Select Risk Appoints Stark as VP, Casualty and Programs

Chicago-based CNA Select Risk, which includes excess and surplus (E&S) insurance business, as well as wholesale property accounts, has ...

Dudonis Named Vice President at United Fire & Casualty Co.

United Fire & Casualty Co., based in Cedar Rapids, Iowa, announced that East Coast Regional Office Branch Manager Ray Dudonis has been ...

Police Settle with Michigan Family of Boy Killed by Stun Gun

The family of a 15-year-old boy who died after a Bay City police officer used a stun gun on him in 2009 is getting a share of a $1 million ...

No Punitive Damages After Wrongdoer’s Death, Iowa Supreme Court Affirms

Punitive damages may not be recovered from the estate of a "wrongdoer," the Iowa Supreme Court has ruled. The Court's decision in a ...
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Southeast

Hurricane Irene Seen Skirting Florida, Possibly Landing in Carolinas

Hurricane Irene was expected to strengthen over the next few days and could hit the southeastern United States as a large and powerful ...

Insurer Sued for Refusal to Hire North Carolina Man in Drug Program

The U.S. Equal Employment Opportunity Commission has sued a national insurance company, contending the firm violated federal law by ...

Alabama Funeral Home to Pay $1 Million for Body Mixup

A Jefferson County jury has found a Bessemer funeral home and two of its employees negligent in the switching of identities of two women ...

Fired Worker Wins Bias Suit Against Mississippi Casino

A former Tunica, Mississippi, casino employee said he was fired from his supervisory job because he is Jewish. A federal jury agreed with ...

Flood Remapping Underway for Metro Atlanta

A massive remapping project is under way, re-evaluating the flood plains in counties and municipalities across metro Atlanta and the rest ...

South Carolina City Pulls Plug on Speed Cameras But Still Faces Lawsuit

The South Carolina city of Ridgeland still faces a legal battle over its use of speed cameras on Interstate 95, even though the city ended ...
South Central

Lockton Dunning Benefits Expands Leadership, Risk Management Teams in Dallas

Dallas-based Lockton Dunning Benefits has expanded its senior leadership and health risk management teams with the addition of Jeff Miller, ...

Oklahoma Owes $36M in Disaster Aid

The state owes an estimated $36 million to more than 600 cities, counties, electrical cooperatives, state agencies, fire districts, schools ...
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West

California’s WCIRB Files a Rate Reduction

California's Workers' Compensation Insurance Rating Bureau has submitted its January 1, 2012 Pure Premium Rate Filing to the California ...

Washington Auto Glass Fraud Perpetrator Ordered to Pay

A Burien auto glass company owner who was sentenced for insurance fraud last week now has been ordered to pay more than $1.6 million in ...

California Data Breach Shows Risk of Online Health Records

Until recently, medical files belonging to nearly 300,000 Californians sat unsecured on the Internet for the entire world to see. There ...

Mercury Hires New Property Field Adjusters

Los Angeles-based Mercury Insurance is hiring 63 full-time property claims employees in its California, Texas, New Jersey and New York ...

Allstate Launches Identity Theft Coverage in Calif.

Approximately 9 million Americans annually are victims of identity theft, spending millions of hours resolving problems associated with ...
International

Official Says Germany Wants Armed Guards on Europe Ships

Germany plans to lobby other European Union countries to allow the deployment of private armed guards on their merchant ships in high-risk ...

U.N. Nuclear Chief Sees Added Safety Costs As Manageable

Planned steps to boost global nuclear safety after Japan's Fukushima disaster will not lead to any major increase in costs for reactor ...

Insurers Contribute over $17 Billion to UK Economy

The Association of British Insurers notes that the industry made a "total contribution of £10.4 billion [$17.21 billion] to the Exchequer ...

ACE Expands Terrorism, Political Violence Team; Biggas is New Underwriter

ACE announced from its London office that it has appointed Marie Biggas to the position of underwriter for terrorism and political risks ...

UK’s Collinson Appoints Scott Wholesale Sales and Strategy Director

The London-based Collinson Insurance Group has appointed Steve Scott to the newly created post of Wholesale Sales and Strategy Director in ...

Ratings Roundup: Continental Re, African Re

A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to 'B+' (Good) from 'B' (Fair) and issuer credit ...
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Sponsored Content

HUB International to be profiled at MarketScout's Entrepreneurial Insurance Symposium

Rick Gulliver, President of Hub International to Profile Growth Strategy DALLAS, August 23, 2011 – Rick Gulliver, President of HUB ...

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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

Homeowners w/o Social Security #
Posted: Mon Aug 22 -- Anyone know a market that writes homeowners without a social security number. We're being asked by a bank to place this account. They... Halpert
Insuring multiple LLC's on the Same policy
Posted: Mon Aug 22 -- You won't necessarily find it in writing, but you will find it in the declinations you get from the insurance carriers when you try to place... LadyBroker
Online Auto Insurance Quote Process
Posted: Mon Aug 22 -- Online Auto Insurance Quote Process: I work for a direct to consumer auto insurance company and I wanted to get some feedback from those... holli.flower
Retail to Wholesale???
Posted: Mon Aug 22 -- Ladybroker & Eagleeye - I appreciate the feedback from you both. Ladybroker - the good news is that the opportunity with the wholesaler is... thatinsguy

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
Virginia 'Guns in Bars' Study Finds Little Effect on Crime
Posted: Tue Aug 16 -- This story is not shocking. The criminals were already carrying their concealed weapons into bars. The only difference now is that the... Wayne
Jury Acquits Boston Bodybuilding Firefighter of Fraud Charges
Posted: Tue Aug 16 -- Are you kidding me??? How can any jury NOT say this guy is committing fraud? He's "too sore" to do non-lifting inspections as an employee,... Scott says...........
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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