Monday, October 31, 2011

Daily Headlines: Monday, October 31, 2011

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Insurance Journal Daily Headlines
October 31, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Company Health Plans Raising Costs for Smokers, Obese

Like a lot of companies, Veridian Credit Union wants its employees to be healthier. In January, the Waterloo, Iowa-company rolled out a ...

Why Real Estate Professionals Need E&O Coverage

As real estate professionals know well, most signs point to slow progress in real estate industry growth. Professionals are left to manage ...

Aspen U.S., V3 Insurance to Offer Misc. E&O, Optional Premises Liability Program

Aspen U.S. Insurance has partnered with V3 Insurance Partners LLC, a managing general underwriting agency, to offer Vantage360 MPL+, a ...

From MyNewMarkets.com Travelers Expanded Event Coverage Protects Investment in Life Celebrations

Despite consumers cutting back on many expenses, they are not cutting back when it comes to the events they hold for life milestones,...
Inbox Detox and the Habit of Email Excellence
East

Q3 Earnings Report: Selective Posts Net Loss

Selective Insurance Group, based in Branchville, New Jersey, reported net loss of $20.1 million for the third quarter. The insurer had ...

William Gallagher Settles With Regulators, Will Pay $1.7M

Insurance broker William Gallagher Associates Inc. will pay $1.7 million as a settlement with Connecticut regulators over allegations that ...

Virginia Farm Bureau Says It’s Peak Deer vs. Car Season

The Virginia Farm Bureau is warning motorists to be mindful of deer wandering onto roads and highways, a common hazard during this time of ...

Nearly 580,000 Lose Power During East Coast Snow

The unusually early snowstorm bringing heavy, wet snow to the East Coast has knocked out power to nearly 580,000 customers. Most are in ...
Webinar - Register Today: How to Read An Insurance Policy
Midwest

Insurer Sues Manufacturer Over South Dakota Collapsed Pool Claims

An insurance company is suing the maker of a portable pool to try to recoup money paid out as a result of a collapsed pool at the Mitchell ...

Nebraska Health Exchange Would Need 83K-100K Enrollees

As many as 100,000 Nebraskans would need to enroll in a state-based health insurance exchange before the program could sustain itself as ...

ARM of Illinois Adds 100th Member to Public Schools Cooperative

Associated Risk Managers (ARM) of Illinois has added Rochelle Community Consolidated School District #231 into the Prairie State Insurance ...
Southeast

West Virgnia City Wins $2.6M in Engineer Negligence Claim

The Charleston Sanitary Board will get more than $2.6 million from a company it had hired to make compost out of yard waste and sewage ...
South Central

Feds Make Slow Progress on Flood Levee Inventory

More than six years after Hurricane Katrina's rampage, authorities have taken only halting steps toward identifying weaknesses in a ...

Mulcahy Joins York Risk Services Group as South Central Sales VP

Claims administration and risk management services provider York Risk Services Group has added Pat Mulcahy as vice president of sales for ...

Tremors in Oklahoma a Reminder to Check for Quake Coverage

Recent minor earthquakes have rattled Oklahoma homes and businesses; seven tremors have been reported in the state during the month of ...

Insurance Professionals of Katy Aligns with International Association

The Insurance Professionals of Katy has affiliated with the International Association of Insurance Professionals (IAIP) (formerly NAIW ...

Farmers Insurance: Nov.1 Will Dramatically Impact Oklahoma Drivers

Farmers Insurance is advising Oklahoma residents that a new law, which goes into effect on Nov. 1, will have a significant effect on all ...
West

Judge Blocks San Francisco’s Cell Phone Warning

A U.S. judge has blocked most of a San Francisco ordinance that required warnings about cell phone safety risks, saying it violated the ...

Mercury Reports Dip in Operating Income in 3Q, Increases Quarterly Dividend

Mercury General Corp. (NYSE: MCY) on Monday reported a dip in operating income for the third quarter, and announced a dividend increase. ...
International

Aon Report on Thai Floods Highlights ‘Extreme Human Suffering,’ Economic Loss’

Aon Benfield has published a highly detailed report on the ongoing floods in Thailand, from their meteorological beginnings - extremely ...

UK PM Seeks Law Change to Allow Armed Guards on British Vessels

UK Prime Minister David Cameron announced plans to amend British law to allow UK registered vessels to employ armed guards as security, ...

Strong Peru Quake Causes Minor Damage, 83 Reported Injured

A magnitude 6.9 earthquake that struck off the coast of southern Peru Friday shook buildings in Lima and injured 83 people near the city of ...

War Veteran Turned Banker is China’s New Insurance Regulator

Xiang Junbo, the man named on Saturday to be China's insurance regulator, recently led the country's third-largest lender from near ...

AIR Gives Preliminary Analysis of Peru Quake Losses

In a bulletin released shortly after the earthquake in Peru, Catastrophe modeling firm AIR Worldwide said that "given the relatively sparse ...

AIR Worldwide Launches Multiple Peril Crop Insurance Model for China

Catastrophe risk modeling firm AIR Worldwide announced that it has released the industry's first Multiple Peril Crop Insurance (MPCI) ...

Third Quarter Earnings Reports: Aspen Insurance, Validus Holdings

Combined ratio of 96.7 percent, or 85.5 percent excluding catastrophe losses for the third quarter of 2011, compared with a combined ratio...

S&P Upgrades Swiss Re and Core Subsidiaries to ‘AA-’; Outlook Stable

Standard & Poor's Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on Zurich-based ...

BrokersLink Adds 8 New Members

BrokersLink, a major independent international insurance broker network, announced that new brokers had joined the organization in Israel, ...
Insurance Journal Blogs

It’s Unwise to Pay Too Much, but it’s Worse to Pay Too Little

Think... It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money—that is all. When ...

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New Discussions in the Forums

Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Mon Oct 31 -- You can look online. I'm certain that there are lots of carriers in Chicago area. troybenning
Nursing Home (TX)
Posted: Mon Oct 31 -- As some of the comments suggest above the only real way to get a feel for a care home is to visit it and make close inspection. One thing... Jambo86
Attorney considering CPCU- thoughts?
Posted: Mon Oct 31 -- I spent this year on education and books like the CPCU which is 5 feet from me right now, was recovered in 8 days of work. But the knowledge... tkishore123
CIC & CPCU at the same time?
Posted: Mon Oct 31 -- LMora, while I don't have my CIC yet, I did just complete the CPCU designation. My only word of advice would be this: find a group of people... BrianBaughman
Can you get different rates for same insurer?
Posted: Sun Oct 30 -- It is rare, but we know of one insurer that is giving a higher discount to high risk properties (such as second homes, mobile homes, etc.)... mgoodfriend
Social Media and its potential
Posted: Fri Oct 28 -- I started a Facebook page a few months ago for our agency. My boss noted that when a person goes to the page, on the right hand side are a... csrsd
Should An Agency Specialize or have a Niche?
Posted: Fri Oct 28 -- Yes, I totally agree for an agency to have a specialize field in their agency, because if you don't have anything that is stand out in the... roycheong1031
Insurance for DJ's
Posted: Fri Oct 28 -- Well, sure, he does need Liability coverage. What if his equipment that he set up falls and damages a 3rd party's property, or, worse yet,... simiinsuranceguy
Android Applications/Insurance Related
Posted: Fri Oct 28 -- I have seen some insurance android apps especially for agents but I don't know if it's worth downloading though. Anyone of you have tried... robmejia

Reader Comments

Florida Man Wins $1M Claim Against South Carolina Lawyer
Posted: Tue Oct 25 -- Now that's a true feel good story! Johnny Cockrun
Accident Fund Will Cover Comp Claim for Joplin Tornado Survivor
Posted: Tue Oct 25 -- Sanity prevails! How refreshing! This poor fellow exposed himself (gosh that sounds wrong) to a higher degree of risk by attempting to save... reality bites
Wall Street Protesters Target Health Insurers
Posted: Fri Oct 28 -- The hospital closed because it was 1 billion in debt. That would probably mean that the hospital was not able to pay their bills probably... Amazed
More Unfit Floridians Have Driver's Licenses Yanked
Posted: Tue Oct 25 -- When my Mom was approaching 90 she went to the Ohio deputy registrar office to renew her license. Part of the process is an eye test and she... Waterbug
West Virginia Judge Affirms $91M Damage Award Against Nursing Home
Posted: Mon Oct 24 -- $91,000,000?? For an 87-YO person? That's a lot of money for pain + suffering + loss of consortium. My parents aren't too much younger so I... reality bites

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October 17, 2011

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