Tuesday, October 11, 2011

Daily Headlines: Tuesday, October 11, 2011

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Insurance Journal Daily Headlines
October 11, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S. to Reveal Criteria for Systemic Risk Insurers Today

U.S. regulators Tuesday are set to give nervous insurance companies, mutual funds and other big players in financial markets a better idea ...

2nd Man Pleads Guilty in Houston in New York Tour Boat Insurance Case

A second man has pleaded guilty in Houston in a case involving the sale of insurance to a New York tour operator whose boat capsized in ...

Moody’s: P/C Insurers More Mindful of Inflation Risks

Until recently, the risk of inflation shocks has not ranked high on the agenda for U.S. property/casualty insurers, Moody's Investors ...

Cyber Threats to Expect in Coming Year

The year ahead will feature new and sophisticated means to capture and exploit user data, as well as escalating battles over the control of ...

S&P Affirms Nationwide’s ‘A+’ Ratings after Harleysville Buy

Standard & Poor's Ratings Services has affirmed its 'A+' counterparty credit and financial strength ratings on Nationwide Mutual ...

Best Removes Balboa Insurance and Members Ratings from ‘Under Review’

A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating of 'A' (Excellent) and ...

Best Affirms OneBeacon Group’s Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and the issuer credit ratings (ICR) of "a" of the ...

Best Upgrades Ratings of Sirius America Insurance Company

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

Farmers Insurance Names Linton Chief Marketing Officer

Michael A Linton has been named enterprise chief marketing officer for Farmers Insurance. Linton, who most recently worked as executive ...

Ironshore Names Wood as VP for Wholesale Casualty

Ironshore Inc. has named Rick Wood to serve as vice president of wholesale casualty. Wood will be responsible for the production of primary ...

From MyNewMarkets.com Top 5 Technology Priorities for P/C Insurers

Property/casualty insurance companies plan to invest in technology for underwriting, policy administration, consumer portals, predictive...
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East

FEMA Denies Virginia Earthquake Disaster Aid

The Federal Emergency Management Agency has denied Virginia's request for aid for individuals whose property was damaged by the Aug. 23 ...

The Hartford Says Its Balance Sheet is Strong

At an investor meeting on Oct. 6, The Hartford Financial Services said the company has "significantly enhanced" its financial risk ...

N.J.-based Selective Insurance Reports $70M in Q3 Cat Losses

Branchville, N.J.-based Selective Insurance Group reported on Tuesday, Oct. 11, pre-tax catastrophe losses for the third quarter of around ...

Hartford Is Latest Site of Wall Street Protest

The protest movement that began with anti-corporate greed rallies on Wall Street has made its way to Hartford. The "Occupy Hartford" ...

Swiss Re Opens General Aviation Office in New York

Swiss Re Corporate Solutions' aviation unit is expanding its operations in the North American general aviation (GA) market. It launched a ...

New York-based Utica National Appoints Cox as Chief Financial Officer

Utica National Insurance Group in New Hartford, New York, has appointed industry veteran Raymond Cox as senior vice president, chief ...
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Midwest

Michigan Court Says Man Can Sue In-Laws Over Fall

This could make the family Thanksgiving a bit uncomfortable. A Detroit-area man is suing his in-laws after falling through their garage ...

Insurer PURE Adds Midwest States and Wyoming

Privilege Underwriters Reciprocal Exchange (PURE), a member of the PURE Group of Insurance Companies, announced it is expanding into ...

Iowan Hurt When Pumpkin Crashes Through Windshield

A motorist was injured by a pumpkin that crashed through her windshield after it fell from or was dropped off an overpass north of Cedar ...
Southeast

Biloxi to Pay Museum’s Insurance Tab

The Biloxi City Council has voted 6-1 to support the Ohr-O'Keefe Museum of Art. The Sun Herald reported that the council approved paying ...

Confie Seguros Enters Florida Market, Buys Trustway Agencies

Confie Seguros, a group of insurance agencies targeting Hispanic customers, has acquired the Miami, Florida-based Trustway Insurance ...

Concordis to Acquire Advance Underwriting Managers

Destin, Fla.-based financial holding company Concordis Group Inc. has agreed to acquire Advance Underwriting Managers. Advance Underwriting ...
South Central

Farmers’ Filing Would Raise Homeowners Rates in Texas by Nearly 10%

Farmers Insurance plans to hike homeowner premiums in Texas by nearly 10 percent next year. The increase will apply to about half of the ...

Tornado Damages Homes, Post Office in San Antonio

A small tornado touched down in San Antonio early on Oct. 9, damaging several homes and a post office. The overnight storm dumped more than ...

Analysis: Health Care Tops 2012 Debate in Arkansas

Democrats in Arkansas next year can't escape the debate over the health care overhaul. They can at least try to change the conversation in ...

Foremost Launches Upgraded Auto Program in Texas

Foremost Insurance Group's enhanced auto program is now available in Texas. The Foremost program features more competitive rates, new ...

Three Work Comp Safety Groups Earn Combined $848K in Texas Mutual Dividends

Texas Mutual Insurance Co. announced that three workers' compensation safety groups have earned a combined $847,714 in dividends. The ...

Nine Texas Cities to Receive Smoke Alarms

Firefighters in nine Texas cities will be installing smoke alarms into the homes of low income and elderly residents thanks to this ...
West

California Fund Proposes Insurance to Stimulate Clean Energy Investments

Finding the capital to get a new power plant in the ground is no small task for any company, but for developers aiming to use emerging ...

Montana Municipal Insurer Pays $500K to Settle Free Speech Claim

The city of Great Falls, Montana, has reached a $500,000 settlement with a Vaughn woman who filed a lawsuit after being escorted out of a ...

California Gov. Brown Vetoes, Signs Workers' Comp Bills

California Gov. Brown on Friday vetoed three bills insurers said would have raised workers' compensation costs. According to the American ...

Washington Insurance Agent Who Sold Fake Policies Sentenced

An insurance agent who sold hundreds of thousands of dollars in fake business-insurance policies has been sentenced to more than two years ...

California ShakeOut Registers 8 Million-plus

The Great California ShakeOut earthquake drill has amassed over over 8 million participants, according to its organizers. The event, set ...
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International

Category 3 Hurricane Jova Targets Mexico’s Pacific Coast

Hurricane Jova bore down on the Pacific coast of Mexico Tuesday threatening to pound one of the country's busiest cargo ports and tourist ...

Aon, Zurich Launch Innovative $100 Million Reputational Risk Coverage

A company's reputation often constitutes one of its most valuable assets; however, as the damage to value, as well, as the nature of the ...

Thailand Races to Defend Bangkok from Floods

Thailand raced on Tuesday to build floodwalls on the outskirts of Bangkok to prevent the worst floods in half a century from inundating ...

Transatlantic Says in Talks with Fourth Suitor

Bermuda-based reinsurer Transatlantic Holdings Inc , which has been at the center of a months-long buyout battle, said it entered talks and ...

Arch Re Group Appoints McGuinness to Head New Canada Treaty Operation

Arch Reinsurance Group has announced its expansion into Treaty reinsurance in Canada with the appointment of Patrick McGuinness to lead ...

Jackson to Represent BrokersLink's Latin America Interests

BrokersLink, the independent insurance broker network, announced changes to its representation in Latin America. The bulletin said: ...

Axis Global A&H Names CaƱellas Business Development Manager – Int’l.

AXIS Global Accident & Health, a division of AXIS Capital Holdings Limited, announced from its London office that Jamie CaƱellas has ...

Best Affirms Sirius International Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'A" (Excellent) and the issuer credit ...
Insurance Journal Blogs

4th Quarter Activities

4Th Quarter Activity Everyone understands the concept of spring cleaning and the activities associated with renewal after winter.  In our ...

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Thinking Globally, Operating Locally

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New Discussions in the Forums

Social Media
Posted: Tue Oct 11 -- Social media platforms like Facebook and Wikipedia offer us the chance to engage with the public in new ways. The general public has a... Warnner
Social Media and its potential
Posted: Tue Oct 11 -- "Why is social media so popular in higher education? Well, this is one of those cases where we have to be where our students are," said... Warnner
Misleading Advertising
Posted: Tue Oct 11 -- Misleading adverts are a staple feature of the beauty industry, but the market for gadgets must run a close second. Now an Apple iPhone... Warnner
SEO and buying back links
Posted: Tue Oct 11 -- Backlinks is an important part of any search marketing strategy. If you focus on the basics of SEO, backlinks need to get a good ranking in... Warnner
Identity Theft coverage
Posted: Tue Oct 11 -- A good option is to get identity theft protection from a company that does ONLY theft identity protection. Never get it from homeowners... sethm
Marketing Marketing Marketing
Posted: Tue Oct 11 -- We've been using social media sites in marketing and promotion, and it's been great so far. I think social media marketing (through FB,... sethm
Do you purchase Damage Waiver when renting a car?
Posted: Mon Oct 10 -- The real answer: It depends. It depends on your underlying auto and personal excess liability coverages. It depends on who is insuring you,... Coast2CoastAgent

Reader Comments

The Hartford Plans Staff Cuts; Sells Subrogation Services Unit Trumbull
Posted: Wed Oct 5 -- How much is too much when it comes to executive salaries? Hartford's 23 corporate executves have an average salary of $4.77 million per... The Other Point of View
Chartis to Trim Workforce
Posted: Wed Oct 5 -- The 2008 Financial Crisis continues to affect employment as another 400 or so employees will lose their jobs. Sad that so many hard working... The Other Point of View
Officials Urged to Keep Minimum Health Benefits Affordable
Posted: Fri Oct 7 -- How about not rolling it out? How about defunding it and repealing it and starting over with private market solutions and no government... Longtime Agent
Boeing Arrest Points to Workplace Drug Problem
Posted: Tue Oct 4 -- I thought Boeing paid good wages, but most of those arrested were dealing and not using so I guess they were supplementing their income.... Longtime Agent
Mississippi Lawsuit Against Bar Over Drunk Driving Death Leads to $15M Judgment
Posted: Fri Oct 7 -- Sounds like they should start another group MAUT, Mothers against uninsured taverns. Sad, sad story. Kramer

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