Monday, September 26, 2011

Daily Headlines: Monday, September 26, 2011

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

Today's Headlines

National

Mortgages At Risk If Flood Insurance Program Expires

The federal program that insures homes against flood damage expires next Friday and is at risk of not being renewed, even as an early fall ...

Nationwide Mutual Reportedly in Talks to Buy Harleysville

Nationwide Mutual Insurance Co. is in talks to buy Harleysville Group Inc., Bloomberg reported last Friday, citing people familiar with the ...

Warning: Insecticides Can Be More Dangerous Than Bedbugs

Bedbugs don't make people sick. But the poisons used to kill them can. A new government study has found that dozens of Americans have ...

Berkshire Hathaway to Buy Back Shares

Warren Buffett's conglomerate Berkshire Hathaway said it will launch a share buyback program, an extremely rare move from Buffett that ...

State Farm: Weather Claims This Year Reach $5 Billion

State Farm Insurance has paid $5 billion to its customers for weather-related catastrophes -- damage to cars, homes and other property so ...

Best Affirms FM Global Group and Members ‘A+’ Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa" of FM Global ...

Burns & Wilcox Promotes LaLonde to Manager, Insurance Solutions

James LaLonde has been promoted to manager of insurance solutions at Burns & Wilcox. LaLonde previously served as an insurance ...

From MyNewMarkets.com More Optimism, but Plenty of Controversy Surrounds Mortgage Broker E&O Segment

Insurance agents serving the mortgage broker marketplace see some signs of improvement but they aren't yet jumping for joy. The mortgage...
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East

Citing Scope of 9/11, N.Y. Judge Tosses WTC Suit

In tossing out a negligence lawsuit, a judge last Friday cited the ``strange, improbable'' events that destroyed a 47-story World Trade ...

Former Head of Liberty Title in N.Y. Sentenced to 20 Months in Prison

Former president and co-founder of title insurance agency Liberty Title, Brian Madden, has been sentenced to 20 months in prison for ...

Insurance Journal Names Ha as East Editor

Wells Publishing Inc. has named Young Ha as its new East editor for its flagship Insurance Journal online and print property/casualty ...

Marsh Names Flynn CEO of U.S. Consumer Unit

Insurance broker Marsh has appointed Liz Flynn to the role of president and CEO of its U.S. consumer business, effective Oct. 1. In her new ...
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Midwest

Receding Missouri River Reveals Badly Damaged Land

As the Missouri River slowly recedes, farmers seeing their fields for the first time since June are encountering sand dunes, strange debris ...

Des Moines, Iowa, Executive Pleads Guilty to Insurance Fraud

The president of a Des Moines, Iowa, firm that provides companies with temporary employees has pleaded guilty to a scheme to reduce the ...

Michigan Auto Insurer Pursues ‘Unlawful Taking’ Defense

An insurance company has persuaded the Michigan Supreme Court to decide whether the insurer must pay the medical bills of a man who was ...

Mayor Says Congress' Lack of Action Means Uncertainty for Joplin, Missouri

The mayor of Joplin, Mo., mayor says he appreciates efforts in Washington to get the economy in order, but he's worried about how that will ...
Southeast

Video on West Virginia Plant Leak Urges Manufacturing Safety

The U.S. Chemical Safety Board, releasing a video depicting a deadly chemical leak at a DuPont plant in Belle, West Virginia last year, ...

Henson Joins Iroquois of Tennessee

Iroquois of Tennessee has named Greg Henson as a new regional manager. Henson previously worked as an inside sales manager for BOC Gases, ...
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South Central

Texas Denies State Farm's Catastrophe Petition

The Texas Department of Insurance has denied a catastrophe determination petition submitted by State Farm Insurance Cos. in response to ...

Willis Energy Hires Farebrother to Lead Houston Sales Team

Global insurance broker Willis Group Holdings announced that Graham Farebrother has joined Willis as executive vice president and sales ...

Some Flood Zones to Shift with New Lafayette Parish Flood Maps

A new flood map for Lafayette Parish could be completed by next year, the first update since 1996 for a document that affects insurance ...
West

Group: National Flood Insurance Program Harm Salmon in Puget Sound

The National Wildlife Federation plans to sue the federal government, saying it has failed to ensure that the national flood insurance ...

CSE Insurance Group’s Pay-As-You-Go Program Approved in California

CSE Insurance Group, a provider of insurance for civil service employees and consumers, has been approved to offer its new SAVE Program ...
International

Validus, Transatlantic Make Peace; Confidentiality Agreement Signed

After rejecting offers from both Allied World Assurance and Berkshire Hathaway's National Indemnity, Transatlantic Holdings has opened the ...

Island Nations at UN Warn of Climate Disaster

The Palestinians want the United Nations to recognize a state. And the island nation of Tuvalu wants the United Nations to act – now - to ...

Ryan Specialty Completes Acquisition of Lloyd's Insurer Jubilee

 Ryan Specialty Group, LLC (RSG) announced that it has completed the acquisition of specialist Lloyd's insurer Jubilee Group Holdings ...

Willis and XL Implement e-Accounting for London Market

The London-based operations of XL Group plc and Willis Limited, the principal UK broking company of global insurance broker Willis Group ...

Ratings Recap: FM Global (UK), Tapiola

 A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A+' (Superior) and issuer credit rating of ...

Swiss Re Policies Help Cholera Victims in Haiti, Poor Farmers in Africa

Global reinsurer Swiss Re is introducing business interruption coverage in case of cholera outbreaks for women entrepreneurs in Haiti. ...

AXA Completes Sale of Canadian Operations

France's AXA Group announced that it has successfully completed the sale of its Canadian operations in Property & Casualty and Life ...

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New Discussions in the Forums

Do you purchase Damage Waiver when renting a car?
Posted: Sun Sep 25 -- Even though a typical Personal Auto Policy will cover a vehicle that the insured rents while on vacation, do you think it is worth it to... John J90
Garage Liability and loaner vehicles
Posted: Fri Sep 23 -- Yes, however this would not be claimed under the GKLL, rather the Garage Liability portion because the damage was not the a vehicle in... Rob
Apartment complex wants to be additional interest
Posted: Fri Sep 23 -- I went through this with this same apartment complex in 2008 for a tenants policy. They want to be named as Additional Interest," or... etimer
Should I get Cal. Low Cost Auto Ins. in our office?
Posted: Fri Sep 23 -- I agree with "d's". Don't waste your time. I was CAARP certified until I recently submitted cancellation. You end up doing whole bunch of... newportins
PA Dog Liability to meet State Requirements
Posted: Fri Sep 23 -- This is exactly the problem... Even Foremost, Travelers, State Farm, Safeco, and smaller mutual companies all will not write if dog has... Suze
3 Properties in Texas?
Posted: Thu Sep 22 -- Texas is a big state that has some problem areas, particularily around the Coastal Areas. If you want to narrow down who can write this and... centex
Worker's comp commission
Posted: Mon Sep 19 -- Wow-In many years of writing in CA, have yet to get 15% . Most in CA seems to be 12% down to as low as 6% (I do not include SCIF) Big... jackwehoca
No Fault insurance question
Posted: Mon Sep 19 -- John J90, you need to study up on your state's no-fault laws if you are out marketing auto insurance. It's pretty critical that you know how... BKCPCU

Reader Comments

House Defeats Bill Funding Government; FEMA, Flood Insurance in Doubt
Posted: Thu Sep 22 -- Our elected and appointed representatives should be made to contribute to their health care coverage and pay for their family members... Nancy
Pennsylvania Jury Finds Nurse Liable, Awards $23 Million to Amputee
Posted: Mon Sep 19 -- If that poor woman lived in VA she would have a med mal cap of under $2,000,000 which is terribly inadequate for such a case. Deborah Brown
More Americans Believe World is Warming: Reuters Poll
Posted: Mon Sep 19 -- Actually, nothing is "settled" or we wouldn't be having this debate, would we? Science is not up to a consensus. That is not science. Funny,... Wayne
Top 5 Technology Priorities for P/C Insurers
Posted: Mon Sep 19 -- The ultimate company objective is to reduce employee count to the present company officers, a couple of programmers and one guy to take the... Bob
Insurer Says Exclusion Bars Payment in Nebraska Pastor's Death
Posted: Wed Sep 21 -- The Nebraska Surpeme Court has already ruled that carbon monoxide is a pollutant and that there is no coverage on the basis of the absolute... The Other Point of View

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