Wednesday, October 26, 2011

Daily Headlines: Wednesday, October 26, 2011

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

Today's Headlines

National

MetLife: Fed Blocks Dividend Increase, Buyback Plans

MetLife Inc., the largest U.S. life insurer, said the Federal Reserve blocked it from raising its dividend and buying back shares, a ...

Death Toll from U.S. Cantaloupe Listeria Outbreak Rises to 28

The death toll linked to listeria-contaminated cantaloupes in the United States has climbed to 28, the Centers for Disease Control and ...

Disability Benefits Get Costlier and More Complicated

Like just about every other workplace benefit, disability insurance is becoming something workers have to manage and pay for, at least ...

Movie Star Stallone Sued, Accused of Copyright Infringement Over Screenplay

Action movie star Sylvester Stallone is accused in a lawsuit of copying another writer's screenplay to make "The Expendables," a movie ...

Best Affirms W.R. Berkley and Subs ‘A+’ Ratings; Outlook Stable

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

GEICO App Gives Facebook Users Access to Policies

GEICO is launching a new Facebook app called "GEICO Shortcuts," which will give GEICO policyholders access to their insurance ...

From MyNewMarkets.com Inconsistency Is the Norm in Construction Liability Coverage

In construction liability insurance, there is a great deal of inconsistency in determining whether faulty workmanship is an occurrence. The...
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East

Maryland’s Highest Court Rules on Lead Paint Lawsuits

Maryland's highest court has ruled that a law giving owners of certain rental properties immunity from personal injury lawsuits based on a ...

Pittsburgh Settles Suit Stemming From G20 Summit

The city of Pittsburgh has settled a lawsuit filed by two men who said they were wrongly swept up in arrests during the Group of 20 ...

Mass. Businessman to Appear in Court to Face Insurance Fraud Charges

A Peabody, Mass., business owner who was indicted for allegedly collecting tens of thousands of dollars in fraudulent claims will be at a ...

The Hartford Appoints New Chief Risk Officer

The Hartford Financial Services Group has appointed Robert Rupp, 58, as executive vice president and chief risk officer, reporting to the ...

New York Team to Assess Recovery in Flooded Communities

As frustration has built in flood-ravaged upstate New York towns nearly two months after back-to-back tropical storms, Lt. Gov. Robert ...

Workers Exposed to Asbestos at Virginia Plant

At least 12 contract employees hired to repair the Surry nuclear power plant have been exposed to asbestos. State Department of Labor and ...
Midwest

Insurance Fraud Trial of Indiana Doctor Moved to South Bend

The health care fraud trial of a northwestern Indiana nose surgeon captured in Italy after more than five years on the run is now set for ...

Oil Firm Agrees to Plead Guilty in North Dakota Bird Deaths

One of seven oil companies charged with killing migratory birds during drilling operations in North Dakota has agreed to plead guilty and ...

Wells Fargo Insurance Names Meder Midwest Region Managing Director

Wells Fargo Insurance Services USA Inc. has named John Meder regional managing director for its Midwest region, which includes Ohio, ...

Federal Ag Secretary: Farm Bill Must Improve Disaster Aid

Lawmakers working on the next Farm Bill need to find an effective way to provide aid to farmers affected by natural disasters, increase ...
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Southeast

What Should Florida Do to Fix Citizens, Property Insurance? Share Your Ideas

As Insurance Journal has reported, Florida lawmakers are considering the future of the state's largest homeowners' insurer, Citizens ...

State Farm Lowering Alabama Auto Rates

Drivers in Alabama insured through State Farm will be paying slightly less for coverage beginning next month. State Farm Mutual Automobile ...

Kentucky Jury Awards $1M in Nursing Home Fall

A court in Lexington, Kentucky, has ruled that a nursing home should pay more than $1 million to a resident who was severely injured in a ...
South Central

Bayer Extends Genetically Modified Rice Settlement Deadline

Rice farmers have nearly a month to file for part of a $750 million settlement to claims that they lost money because Bayer CropScience ...

Louisiana Ranks Third in Job Growth Numbers in September

Louisiana's jobs gain in September ranked third in the country, according to the federal Bureaus of Labor Statistics. Louisiana added ...
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West

Damages Expert: California Trust Company Owed $81M for Trade Secrets

A damages expert asserted Trust Company of the West (TCW) is owed $81.7 million in royalties due to trade secret theft as the high-profile ...

Lockton Adds Technology Property & Casualty Leader in California

Kevin Hoskinson has joined Lockton as its technology practice leader focused on property and casualty insurance for technology companies. ...

NOAA Study: US values Hawaii Reefs at $33.57B

Americans peg the value of coral reefs around the main Hawaiian Islands at $33.57 billion, a study commissioned by the federal government ...

Major California Gas Line Ruptures During Test

Pacific Gas and Electric Co. officials said Monday that a major gas transmission line serving the San Francisco Bay Area ruptured during a ...

EPA to Push Cleanup of Colorado Coal Plants

The head of the Environmental Protection Agency says federal regulators will continue to push for the cleanup of coal power plants in ...
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International

UPDATE: Hurricane Rina Bearing Down on Yucatan Peninsula

The latest report from the national Hurricane Center in Miami at 10:00 A.M. CD warns that the Mexican government "has issued a hurricane ...

AIR Estimates Turkey Insured Quake Losses at $56.5 to $170 Million

Catastrophe modeling firm AIR Worldwide estimates that insured losses from the magnitude 7.2 earthquake that struck eastern Turkey Sunday, ...

Flagstone Re to Restructure Business; Sell Lloyd’s Operation

Flagstone Reinsurance Holdings has announced a number of strategic initiatives, which it said are "designed to realign the Company's ...

Survey Finds Africa, Asia Cities Most at Risk from Global Climate Change

Countries and megacities in Africa and Asia are among the most vulnerable to the impacts of climate change over the coming years, a global ...

Argo Group Preliminary Estimates for Q3 Cat Losses $35 to $40 Million

The Bermuda-based Argo Group International Holdings, Ltd. announced that it expects to report in the third quarter its estimate for ...

Flagstone Re Estimates Q3 Losses Will Total Around $45 Million

Flagstone Re announced that its preliminary estimates for losses occurring in the third quarter of 2011 are expected to total around $45 ...

Best Revises Allied World, Affiliates ICR Outlook to Positive; Affirms Ratings

A.M. Best Co. has revised the outlook to positive from stable and affirmed the issuer credit ratings (ICR) of "a" of Allied World ...

Best Affirms Ratings of UK-Based Travelers Insurance Co. Limited

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

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FERMA Growth Assured as Den Dekker Steps Down

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New Discussions in the Forums

What is the Purpose of An Agency Website?
Posted: Wed Oct 26 -- Good points! I think an agency website should be informative too. It should not be all about marketing. Readers must be able to get helpful... sethm
Book recommendation for starting an agency?
Posted: Wed Oct 26 -- Get the book entitled "Power Position Your Agency: A Guide to Insurance Agency Success." I read this book a few years ago. It's a good... sethm
Insurance for DJ's
Posted: Wed Oct 26 -- A Public Liability Insurance is much more applicable. It can be a bit expensive, so you need to assess the risk first. sethm
Marketing Marketing Marketing
Posted: Wed Oct 26 -- You are 100% dead right! If you are not marketing, in a creative way, you may not be around very long. Good ideas. Bob ... IndependentAgent
Can you get different rates for same insurer?
Posted: Tue Oct 25 -- One assist is to have a homeowner install a professional monitoring system which will qualify them for anywhere between a 8-12% discount on... mgoodfriend
Android Applications/Insurance Related
Posted: Mon Oct 24 -- I have an android tablet and love it. Many of the companies are slowly coming out with applications but you are limited. Now, as for the... beyert1
Combinability of Interest
Posted: Thu Oct 20 -- When there is common ownership despite the % in entities that are SPE, and LLC's for single project, they can be combined under one policy -... shellilk
Salary- CPCU
Posted: Thu Oct 20 -- In my career, the CPCU designation has served me well both as an underwriter and now as a broker. It is an excellent door opener to get... mszleszinski

Reader Comments

Obama Pulls Plug on Long-Term Care Plan in Healthcare Law
Posted: Wed Oct 19 -- youngin' - I imagine this post was in respone to mine above, since it was attached at the bottom. 1. I'm 40. My generation has yet to... Mike N
Georgia Court to Weigh Alligator Claim Against Homeowners Association
Posted: Fri Oct 21 -- Seeing an alligator up close and personal could cause me to code, too. NG
Senators Oppose Flood Insurance Requirement on Properties Near Levees
Posted: Wed Oct 19 -- People who are crazy enough to rely on the "protection" provided by a levee need to have flood insurance. This is a no brainer. Levees are... George Campbell
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
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

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October 17, 2011

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