Thursday, October 20, 2011

Daily Headlines: Thursday, October 20, 2011

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Insurance Journal Daily Headlines
October 20, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Federal Product Safety Database Faces First Legal Challenge

Praised by consumer advocates and denounced by manufacturers, a new federal database for safety complaints about everything from baby gear ...

Accounting Rules to Hurt Insurers’ Ratios But Not Ratings: Moody’s

New accounting rules intended to align U.S. insurers' varied approaches to accounting for deferred acquisition costs (DAC) will negatively ...

Allstate’s Q3 Disaster Losses Top $1 Billion

Allstate Corp. suffered nearly $1.1 billion in catastrophe losses in the third quarter, the country's largest publicly traded home and auto ...

The Doctors Co. Completes Acquisition of FPIC

Medical liability insurer The Doctors Co. has completed its previously-announced acquisition of FPIC Insurance Group Inc., a major provider ...

Applied Systems Names Corporate Development Executive

Ryan Hobbs has joined the executive team at insurance software company Applied Systems in University Park, Illinois, as senior vice ...

Surplus Lines Group Honors Haldeman, Leonard, Others in Industry

Hank Haldeman, executive vice president of The Sullivan Group and co-chair of the National Association of Professional Surplus Lines ...

Aspen US, Brownstone to Offer Coverage to Property Owners

Aspen US Insurance and Brownstone Insurance Agency have formed a partnership effective September 1, to bring underwriting and claims ...

From MyNewMarkets.com Predictive Modeling Enters Mainstream with ISO, Willis Re Marketing Relationship

While most insurance companies believe that predictive modeling can be an effective and accurate way to rate their insureds, they may not be...
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East

Workers’ Comp Results Deteriorated for Northeastern States Last Year

Most states in the northeastern region reported deteriorating workers' compensation underwriting results last year, according to latest ...

New York Court Finds Driver Blinded by Sun Glare May Be Liable in Accident

New York's highest court has ruled that a motorist from Syracuse who struck and killed a pedestrian while being distracted by sun glare ...

N.J. Insurance Agent Indicted for Allegedly Stealing $176K

A Camden County, New Jersey, insurance agent was indicted for allegedly stealing more than $172,000 from insurance purchasers and for ...

Wells Fargo Insurance Appoints New Executive For Philadelphia Region

Wells Fargo Insurance Services -- part of Wells Fargo & Company -- appointed Joseph Cathcart as managing director for its Philadelphia ...
Midwest

American Financial Group Founder, Carl Lindner Jr., Passes

Carl Lindner Jr., chairman of Cincinnati, Ohio-based American Financial Group, died on Oct. 17, 2011, at age 92. Lindner was surrounded by ...

Michigan Democrats Oppose Auto Insurance Changes

Democrats in the Michigan House said they would oppose proposed changes to Michigan's auto insurance laws, including a measure seeking to ...

Gumtree Wholesale Insurance Hires Cota in Missouri Office

Vicki Cota has been named underwriter/broker at Gumtree Wholesale Insurance Brokers Inc. in its Springfield, Mo., office. She previously ...
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Southeast

Florida Hurricane Fund Has $3.2 Billion Shortfall

Florida's hurricane fund is confronting a potential $3.2 billion shortfall, financial experts said in a new estimate of the money available ...

Florida to Train More Troopers to Investigate Highway Accidents

Florida's top highway safety official wants to put more troopers who specialize in investigating highway fatalities out on the road. ...

Kentucky Lawmaker Looks to Curb Copper Thefts

Kentucky Republican state Rep. Bill Farmer of Lexington is planning to push a legislative measure that would impose new rules regarding the ...
South Central

Oklahoma Senator: State Employee Health Plan will Send $75M to New Jersey

Beginning Jan. 1, 2012, Oklahoma school teachers and state employees using HealthChoice for insurance benefits will be forced to fill their ...

Baker Joins Texas Agent Group as Director of Health Insurance Information

Misty Baker has joined the Independent Insurance Agents of Texas as director of health insurance information. In this newly created role, ...

Cunningham Lindsey Names 3 to Premier Loss Adjusting Division

Dallas-based Cunningham Lindsey has promoted Chuck Stoll, Joe Christie and Lynn Summers to its International & Executive Loss Adjusting ...
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West

ShakeOut in West May Raise Disaster Awareness

Today may be a good day to sell disaster insurance in the Western United States. A massive earthquake drill set for 10:20 a.m. today is ...

Two Railroads Face Pollution Lawsuit in California

When the lump on her toddler's tummy turned out to be a rare cancer, Carla Hernandez wondered if living just a half-mile from two rail ...

California Workers' Comp Institute Compiles List of Bills Signed by Brown

The California Workers' Compensation Institute on Wednesday released a review and compilation of 20 bills signed by Gov. Jerry Brown in ...
International

French Broker Filhet Allard Joins BrokersLink in Expansion Move

Filhet Allard, the 6th largest corporate broker in France, has become a member of BrokersLink, the independent insurance broker network, ...

Ratings Recap: BNY Trade, XL [pref. shares]

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Bermuda-based BNY Trade ...

Lockton, First Equity Risk Management in South Africa Joint Venture

Insurance broker Lockton Companies LLP and First Equity Risk Management Services  Ltd are forming a South African joint venture company, ...

Wright Named CEO of Willis International, Replacing Margrett

Willis Group Holdings plc in London has named Tim Wright as chief executive officer of Willis International, the company's business unit ...

MetLife Offers Business Travel Medical Coverage to Employees on Assignment

MetLife has launched International Business Travel Medical (IBTM) coverage. IBTM provides assistance and coverage for emergency and urgent ...

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Insurance Journal TV

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Intermediary Value

The prolonged soft market and tough competition in the property/casualty insurance industry...
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FERMA Growth Assured as Den Dekker Steps Down

Peter den Dekker's tenure as president of the Federation of European Risk Management...

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New Discussions in the Forums

Should I get Cal. Low Cost Auto Ins. in our office?
Posted: Wed Oct 19 -- Roy, It looks like we are all in agreement here. I agree - too many headaches. A ton of paperwork and most of the time, the clients that are... SFOInsuranceLady
Combinability of Interest
Posted: Wed Oct 19 -- Good explanation from Big Dog. Further explanation. Combinability of LLC's, Corporations, Partnerships and Sole Proprietorships is generally... Amur
Can you get different rates for same insurer?
Posted: Tue Oct 18 -- First of all, no question is "dumb". Second of all, I totally agree with Sandra and OCBroker, but I'd like to take it one step further,... SFOInsuranceLady
Book recommendation for starting an agency?
Posted: Tue Oct 18 -- The Accreditted Advisor in Insurance (AAI) designation material may be of some value. It is put out by the Insurance Institute of America.... jtownagent
Salary- CPCU
Posted: Mon Oct 17 -- I know lots of CPCUs. Some are very good at what they do and some are not good at all. The good ones tend to be paid well and the not so... bullmann

Reader Comments

Massachusetts Jury Returns $20M Verdict in Pool Slide Suit
Posted: Tue Oct 18 -- There are two idiots in this post. The MA jury and the decedant. This award is unconscionable. What adult woman with an ounce of common... Jester
Top 10 Excuses From Drivers Caught Using Phones
Posted: Fri Oct 14 -- These people should be cited for stupidity. Jester
In Few Years, Social Network Data May Be Used in Underwriting
Posted: Thu Oct 13 -- Who'd a thunk that "Big Brother" would end up watching us through FaceBook? As IF credit scoring isn't invasive enough, we will now soon be... Dee
Widow Sues Tennessee Veterans Hospital Over Husband's Suicide
Posted: Fri Oct 14 -- I am so sorry to read about what happened to Scott Eiswert and now to his family. I know a lot of veterans who have received shabby care... Waterbug
Obama Pulls Plug on Long-Term Care Plan in Healthcare Law
Posted: Mon Oct 17 -- How may times can a man look up, before he sees the sky? Yanti Parazzi

Current Issue

Current Issue
Focus on Professional Liability / PLUS, Law Firm Directory, Commercial Property, Insurance Geek Issue - What's New in Technology
October 17, 2011

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