Wednesday, August 24, 2011

Daily Headlines: Wednesday, August 24, 2011

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Insurance Journal Daily Headlines
August 24, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Ratings Roundup: AMEX Assurance, SeaBright

A.M. Best Co. has upgraded the issuer credit rating to "a+" from "a" and affirmed the financial strength rating of 'A' (Excellent) ...

Argo Surety Expands Capacity, Establishes Presence in Chicago

Argo Surety, a member of Argo Group International Holdings, has established a presence in the Chicago area with the appointment of Dan ...

Entire East Coast Placed on Hurricane Alert

The United States put its eastern seaboard on alert for Hurricane Irene Tuesday, as the powerful storm barreled up from the Caribbean on a ...

Earthquake Rattles East Coast; No Deaths or Major Damage Reported

A strong earthquake struck the U.S. East Coast and was felt as far away as Canada on Tuesday, shaking buildings in many cities, delaying ...

East Coast Earthquake Losses Less Than $100 Million: Eqecat

The earthquake that struck Virginia and rattled the Eastern United States Tuesday caused less than $100 million in insured losses, ...

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...
THIS WEEK: Top 10  Things Agents do Everyday - But Shouldn't
East

East Coast’s Once-a-Century Earthquake Causes Minor Damage

A strong earthquake rattled the U.S. East Coast Tuesday, sending tremors as far as Canada, damaging well-known buildings in the nation's ...

Massachusetts Judge Refuses to Quash Fatal Arson Evidence

A Massachusetts judge has rejected a plea to suppress evidence in the case of a Northampton man accused of setting 15 fires that left two ...

Earthquake Tested Safety of East Coast’s Nuclear Plants

The largest earthquake to hit the East Coast of the United States in 67 years raised concerns on Tuesday about the safety of the country's ...

IIABNY Issues Timely Warning on Earthquake Insurance Coverage

The Independent Insurance Agents & Brokers of New York has issued a timely warning in the wake of the earthquake that struck the east ...

Allstate Files $5 Million Insurance Fraud Case in New York

Allstate Insurance Company is seeking to recover $5 million against 10 New York area defendants in its fourth insurance fraud lawsuit of ...

Two Brothers Face Trial for Murder-for-hire Insurance Fraud Scheme

Opening statements are expected this week in the trial in Baltimore of two brothers accused of carrying out the killing of a blind and ...

The Hanover Adds D.C. Area Branch Office

The Hanover Insurance Group added a new D.C. Metro branch office in Reston, Va. Located in the Reston Executive Center at 12100 Sunset ...

Maryland Brothers Face Trial for Murder-for-Hire Insurance Scam

Opening statements are expected this week in the trial of two brothers accused of carrying out the killing of a blind and mentally disabled ...

NH Secretary of State Names Mitchell to Hear Health Insurance Pools Case

New Hampshire Secretary of State William Gardner has named a Sandwich attorney to hear a dispute between a nonprofit organization and New ...

Quake Damages Spires on Washington’s National Cathedral

The Washington National Cathedral, the highest point in the U.S. capital city, suffered damage in Tuesday's earthquake, with three spires ...
Midwest

Minnesota Seeks to Bolster Insurance Regulation with Commerce Dept. Changes

The Minnesota Department of Commerce has undergone a reorganization that includes a new Division of Insurance aimed at unifying and ...

Michigan Hospital Gets Settlement from Utility Over Freezing Death

About $323,000 has been awarded to a hospital as part of a civil suit filed by the family of a 93-year-old Bay City man who froze to death ...

Wells Fargo Insurance Appoints Wylie to Lead Chicago, Milwaukee Offices

Wells Fargo Insurance Services USA Inc., part of Wells Fargo & Co., has named James S. Wylie senior vice president and managing ...

Froment Named Deputy Director of Ohio Insurance Department

Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor has named Jillian Froment the department's deputy director. ...
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Southeast

North, South Carolina Coastal Insurance Plans Ready for Hurricane Irene

Caught square in the path of Irene, the first major hurricane of the season, the coastal insurance plans in North and South Carolina are ...

Tennessee Governor Resists Calls to Tweak New Cap on Damages

Republican Gov. Bill Haslam doesn't intend to rework the state's new law limiting payouts in successful lawsuits against doctors and other ...

Directors of Failed Atlanta Bank Sued, Accused of ‘Lavish’ Spending

Federal bank regulators have sued 17 former directors and officers of the failed Silverton Bank, accusing them of gross negligence and ...
South Central

Texas Attorney Arrested for Alleged Bribery Schemes in Personal Injury Cases

An Austin attorney was arrested Aug. 22 on federal racketeering charges alleging bribery of an already-convicted Texas judge, as well as ...

Amarillo Insurance Agent Faces Prison Over Investment Scam

A Texas Panhandle woman has been convicted in a more than $600,000 investment scheme that targeted elderly investors. Prosecutors say ...

U.S. Risk Names Greer a Senior Broker in Austin Office

Managing general agency and surplus lines wholesaler U.S. Risk Insurance Group Inc. has appointed Tony Greer as senior broker in its ...
West

Calif. Court Rules on Benefit from Negotiated Rate Differential

California's highest court has ruled that accident plaintiffs may only recover economic damages equal to the amount paid by their insurer ...

Earthquake Hits Rural Colorado, Too

Virginia's earthquake isn't the only notable temblor to hit the United States this week. On Monday the largest earthquake to strike ...

Court Reinstates Wrongful Death Lawsuit Against California Cop

A federal appeals court has reinstated a wrongful death lawsuit against a Madera police officer who authorities say mistakenly pulled out ...
International

Recap of Forecasts for 2011 Atlantic Hurricane Season

Private forecaster Weather Services International (WSI) Tuesday increased to 18 from 15 the number of named storms it predicted for the ...

ConocoPhillips Evaluating China Oil Spill Impact

A subsidiary of ConocoPhillips said it has started evaluating the impact of its oil spill on the marine environment in China's northern ...

Australia’s Suncorp Profit Falls 42%; Hints at Capital Return

Australian insurer and bank Suncorp reported a 42 percent fall in annual profit on Wednesday, but still beat forecasts and hinted at a ...

Caribbean Countries form Partnership to Develop Climate Change Strategies

The Caribbean Community Climate Change Centre (CCCCC) and the Caribbean Catastrophe Risk Insurance Facility (CCRIF) have strengthened their ...

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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

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
Homeowners w/o Social Security #
Posted: Wed Aug 24 -- In CO, where I am based, we are not required to get the SS number but we would need to get a copy pf a photo ID. We also need to verify the... London946
Intetested in hearing from independent agent associations
Posted: Wed Aug 24 -- Hi all, I plan on going into business for myself selling commercial property casualty insurance to small to mid size businesses. I will be... John J90
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
Insurance agencies for sale ?
Posted: Tue Aug 23 -- I'm currently looking to buy an insurance agency, I don't mind dealing with sales brokers. I would rather deal the agencies principals... CoJones
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

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
NY's Senator Schumer Calls for End to 'Job-killing' Insurance Fee
Posted: Thu Aug 18 -- So Schumer admits that higher taxes kill jobs??? Has he mentioned this to Obama or anybody else in his party? Seems important. Hillsborough agent

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