Wednesday, October 19, 2011

Daily Headlines: Wednesday, October 19, 2011

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Insurance Journal Daily Headlines
October 19, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Banks Near Deal with States on Foreclosure Immunity, Refinancing Plan

Talks between U.S. states and top banks over mortgage abuses are nearing agreement on a major sticking point that has bogged down ...

Senators Oppose Flood Insurance Requirement on Properties Near Levees

Two senators are pressing to remove a federal requirement that homeowners and businesses near levees and dams purchase flood insurance. ...

Travelers Latest to Add to Asbestos Reserves

Travelers Cos. is the latest large insurance company to say the asbestos problem, which the industry was supposed to have put behind it ...

Court May Revive Viacom Copyright Claim Against YouTube

In a copyright infringement case at the heart of media company battles to win Internet viewers, an appeals court grappled on Tuesday over ...

Excessive Drinking Costs About $2 per Drink

The toll of excessive drinking works out to about $2 per drink, in terms of medical expenses and other costs to society, according to a new ...

Weather Losses Trim Q3 Profit for Travelers

Travelers Companies reported a $333 million net profit after taxes for the third quarter, down from $1.05 billion in the third quarter last ...

Insurance Industry Volunteer Week Underway in 7 States

More than 3,000 insurance employees have stepped forward to get involved in more than 500 projects around the country for Volunteer Week, ...

PLIS Develops New Bed Bug Liability Program

Over the last 5 years, reports of confirmed bed bug events have skyrocketed, causing the general public to panic and take extreme measures ...

From MyNewMarkets.com U.S. Treasury Increases Main Street America's Surety Bond Capacity

The U.S. Department of the Treasury has raised The Main Street America Group's NGM Insurance Co.'s single surety bond capacity threshold...
East

AutoOne Employees Await as Sale to Interboro Nears Completion

As AutoOne auto insurance company transitions from one owner to another, employees can expect to face a number of changes, including some ...

Vermont Lawsuit Says Ex-Wife of Murder Suspect Negligent

The father of a slain Braintree, Vermont, girl is accusing the suspect's ex-wife of playing a role in her death by not protecting her. The ...

N.J. Man Indicted for Allegedly Submitting False Claim Worth $24K

A Monmouth County, New Jersey, resident has been indicted for allegedly submitting a forged receipt in support of an insurance claim in an ...

New York-based Holborn Hires Two Executives From U.S. RE

Independent reinsurance broker Holborn Corp. appointed Wesley Zeliff as vice president and Shinji Ueda as assistant vice president. Both ...
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Midwest

Missouri Regulators Recover Nearly $10M in Insurance Payments

Consumers who filed complaints with the Missouri Department of Insurance have received almost $10 million in additional claims payments ...

Baus Selected National Surety Leader at Westfield Insurance

Westfield Insurance, headquartered in Westfield, Ohio, has selected Dennis Baus to lead the company's surety operations. Baus assumes the ...

A.M. Best Downgrades Ratings of Indiana Lumbermens Mutual Insurance

A.M. Best Co. announced it has downgraded the financial strength rating to B+ (Good) from B++ (Good) and issuer credit ratings to ...
Southeast

West Virginia Orders Emergency Mine Inspections

West Virginia mine safety officials have ordered emergency inspections of up to 500 rescue shelters in the state's underground coal mines. ...

Workplace Deaths Double in West Virginia

Fatal on-the-job incidents in West Virginia more than doubled in 2010 compared to the previous year. The U.S. Bureau of Labor Statistics ...
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South Central

New System Allows for Faster Transfer of Vehicle Crash Records in Texas

Crash records are now easier to transfer with the recent launch of a new, secure web-based application that allows law enforcement agencies ...

Texas-based HealthSmart to Acquire Wells Fargo TPA

HealthSmart Holdings Inc., based in Dallas, Texas, has entered into a definitive agreement to acquire Wells Fargo Third Party ...
West

Colorado Processing Plant Fauletd in Listeria Outbreak

Unsanitary conditions at a packing plant that processed fresh cantaloupes from a Colorado farm likely contributed to one of the deadliest ...

Fireman's Appoints Chief Underwriting Officer and Chief Field Executive

Novato, Calif.-based Fireman's Fund Insurance Co. has named David Zona as chief underwriting officer and Kathleen Zortman as chief field ...

Accenture, Guidewire Settle Patent Suits

Accenture and Guidewire Software Inc. have agreed to resolve all outstanding patent litigation between the companies concerning their ...

Medicus Now Selling Insurance in Washington

Medicus Insurance Co. is now offering medical professional liability coverage to physicians and surgeons in Washington. Medicus is an ...

Pro-business Groups Praise Brown's Workers’ Comp Record; Warn about 2012

A pair of California pro-business groups focused on workers' compensation on Tuesday hailed Gov. Jerry Brown's record on handling ...

Senior Management Changes at Utah Workers Compensation Fund

Bob Short has been promoted from senior vice president of claims for Salt Lake City, Utah-based Workers Compensation Fund to executive vice ...
International

Flood Damage Underestimated; Better Risk Prevention Needed: Allianz

Floods are the most commonly occurring natural catastrophes in the world and insurance companies are using science to better predict risks, ...

Global Retail Theft Up 6.6% in Past Year

Shoplifting, employee theft and organized crime cost the global retail industry $119 billion in the 12 months ended in June, up 6.6 percent ...

Plastics Industry Also at Risk for Metal Theft in UK: MMA Insurance

The plastics industry is now a target for the growing market of metal theft, according to one UK insurer. MMA Insurance is warning that ...

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New Discussions in the Forums

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
Should I get Cal. Low Cost Auto Ins. in our office?
Posted: Tue Oct 18 -- The broker fee would have to be $200 minimum. rodgwag
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
FBI Gets Immunity for Wreck of Ferrari in Michigan Insurer Case
Posted: Wed Oct 12 -- Big Brother once again can confiscate property with absolutely no accountability; that's why this country is headed to hell in the lawyer's... 2lanelover
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

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