Friday, November 4, 2011

Daily Headlines: Friday, November 4, 2011

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Insurance Journal Daily Headlines
November 4, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Benmosche Says AIG Is Still in ‘Good Shape’ Despite Huge Losses

AIG suffered a perfect storm of natural disasters and adverse market conditions in the third quarter, its chief executive officer said ...

Insurers Eye Increased Risk of Public Entities in Era of Cutbacks

The climate of government cutbacks is forcing public entities to reduce expenditures while trying not to greatly increase their risk or ...

P/C Market to See Only Moderate Changes in Rates in 2012: Willis

Property/casualty insurance rates will continue to be flat to with some slight increases or decreases in most major and specialty lines of ...

The Legal Landscape for MF Global’s Jon Corzine

If the Federal Bureau of Investigation turns up evidence that MF Global Holdings Ltd improperly mixed customer accounts and its own funds, ...

Regulators Elect 2012 Officers; Florida’s McCarty Serves as President

Tthe National Association of Insurance Commissioners (NAIC) has elected its 2012 officers. Florida Insurance Commissioner Kevin M. McCarty ...

AXIS Global Accident & Health Enhances Business Travel Accident Protection

AXIS Global Accident & Health, a division of AXIS Capital Holdings Limited, has introduced TravelAXIS, an enhanced travel benefits ...

American Collectors Updates Collectible Coverage

American Collectors Insurance, national provider of specialty insurance for collectibles and collector vehicles, has updated its insurance ...

From MyNewMarkets.com Risk Management a Hot Topic on Chubb's New 'Risk Conversation' Web Site

Chubb has created a new interactive Web site designed to offer risk management services to consumers and businesses. The new site, called...
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East

AIG Says Commercial Line Rate Hike Is Accelerating

American International Group said its U.S. commercial line rates are increasing at an accelerated pace. A number of other major insurers ...

Vermont-based CSI Appoints Ames & Gough New Program Manager

Consumer Specialties Insurance Company, a risk retention group, appointed Ames & Gough Insurance/Risk Management Inc. as the new program ...

AIG Reports Q3 Net Loss of $4.1 Billion

American International Group reported on Thursday a net loss of $4.1 billion and an after-tax operating loss of $3.0 billion for the third ...
Midwest

GOP-led Michigan House OKs Workers’ Comp Changes

Legislation that could help employers reduce costs related to compensating workers injured on the job was approved by the Republican-led ...

Murphy Joins Great American Insurance as Corporate Claims Divisional VP

Cincinnati-based Great American Insurance Group announced that its corporate claims division hired Emmet M. Murphy as a vice president ...

Motorcycle Helmet Repeal Approved in Michigan House

The latest attempt by Michigan lawmakers to repeal a state law requiring motorcyclists to wear helmets passed the state House and cleared a ...

Levee Protecting Des Moines Neighborhood Almost Done

Work on a levee protecting a Des Moines, Iowa, neighborhood that flooded twice since 1993 is almost finished. A contract for reconstruction ...

North Dakota Flood Insurance Holders Get Another Extension

North Dakota flood victims with flood insurance have been given even more time to file claims. The state's congressional delegation says ...
Southeast

Feds Agree to Flood Insurance Reinspections in North Carolina

The Federal Emergency Management Agency says its flood insurance arm will reinspect more eastern North Carolina homes and businesses ...

FEMA Agrees to Re-Inspect North Carolina Homes

The Federal Emergency Management Agency says its flood insurance arm will re-inspect more eastern North Carolina homes and businesses ...

McLeod Joins Smart Choice as President

Chris McLeod has been named as president of the High Point, N.C.-based Smart Choice Agents Program. She will take over as president ...
South Central

BP Products to Pay $50M for Illegal Emissions at Texas City Refinery

BP Products North America Inc. will pay the state of Texas $50 million for unlawfully emitting pollutants during and after a March 2005 ...

Texas Insurance Regulator Wins Top National Award

The National Association of Insurance Commissioners (NAIC) presented its highest award to Danny Saenz of the Texas Department of Insurance ...

Regional Insurance Services Co. Adds Tabor as Texas Business Director

As part of its expansion into the Texas marketplace, Louisiana-based Regional Insurance Services Co. (RISCOM) has hired Claire Tabor as ...
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West

Colorado Allstate Agents Hiring Announcement Follows Lackluster Jobs Report

In the wake of lackluster unemployment figures released on Friday a large insurance company is trying to draw attention to opportunities ...

Michelman & Robinson Expands With Barbarowicz

Encino, Calif.-based lawfirm Michelman & Robinson LLP has added Robert Barbarowicz as of counsel in their regulatory and administrative ...

Gorin Named Network E&S Insurance Brokers President

David J. Gorin has been named president of Network E&S Insurance Brokers LLC, a Simi Valley, Calif.- based managing general underwriter ...

Medicus Gets “A” Rating from A.M. Best Following Acquisition by NORCAL

Insurance rating service A.M. Best has given Medicus Insurance Co. an A (Excellent) rating following the company's acquisition by San ...

Lockton Adds Technology Property Risk Control Consultant in San Jose

Duane Caldwell was added to Lockton's technology-focused team in San Jose, Calif. as a property risk control consultant. Caldwell will take ...
International

Aon Benfield Monthly Cat Report Says Thai Floods Insured Loss over $5 Billion

Aon Benfield's latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during ...

Lloyd’s Analyzes Baden-Baden Reinsurance Renewal Conclave

An article on the Lloyd's website takes a look at the "insurance and reinsurance specialists," who "converge in Baden-Baden to begin their ...

Broker/Analyst Cheuvreux Urges Buffett to ‘Come to Europe’

Warren Buffett should come to Europe to tap regional champions at knock-down valuations, including in his favored sectors, Cheuvreux ...

Economist Risk Summit Urges Execs to Adopt Longer Term Perspectives

A new report released today by The Economist Intelligence Unit during the Economist Conferences' Risk Summit, hosted by Willis Group ...

Third Quarter Earnings Reports: Argo Group

Argo Group's CEO Mark E. Watson III, commented:, "It has been a challenging quarter in a year of significant catastrophe activity for the industry...

Loudwill Joins Endurance Specialty for Casualty Treaty

Endurance Specialty Holdings Ltd., announced that Steven Loudwill has joined the company as Treaty Underwriter, based in London. He has ...

Professional Indemnity Expert Carver Joins Miller from Aviva

UK-based broker Miller Insurance Services Limited has appointed Mark Carver from Aviva in a move which, it said, "further strengthens its ...
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New Discussions in the Forums

Insurance
Posted: Fri Nov 4 -- Is it a problem if they make insurance mandatory for everyone? After all, each person needs it anyway. Especially health insurance and long... robmejia
Healthcare Reform
Posted: Fri Nov 4 -- A part of the recent health care reform pertains to Insurance for People With Pre-existing Conditions. For those adults whom private... robmejia
Do you purchase Damage Waiver when renting a car?
Posted: Fri Nov 4 -- I explain to my insureds that they have an exposure due to loss of use and for that reason they may want to buy the lower of the CDW... Rochambeau
GYM
Posted: Thu Nov 3 -- What carriers write Gyms? This is fr a private one on one Gym, Not a 24 hour type. Thanks JAM
Best designation for CSR?
Posted: Wed Nov 2 -- I would go for the ACSR with IIAT. Not sure what area you are in, but you might also look into joining a local NAIW group. They have... Brenda H
Should An Agency Specialize or have a Niche?
Posted: Wed Nov 2 -- 2-3 industry specialties seems to be a safer bet. Just as you should diversify your investment portfolio, diversification of niches also... jimmyr1978

Reader Comments

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
Occupy Nashville Protesters Sue Governor Over Curfew
Posted: Tue Nov 1 -- Let's spend taxpayer money on a crappy lawsuit. These people drive me nuts. Mikey
S&P Lowers Outlook on Allstate and Subs to Negative; Affirms Ratings
Posted: Thu Nov 3 -- To much Mayhem........ Agent
New York Railroad Workers Charged in $1 Billion Disability Claims Fraud
Posted: Fri Oct 28 -- "Oh, I've been jerking on the railroad, all my live-long days". I figure if the courts can go after Madoff for his scams, then each one of... reality bites
First Suit Filed in Reno Air Race Tragedy
Posted: Wed Nov 2 -- the crash was "the predictable result of a reckless drive for speed by a risk taking pilot and crew, coupled with an insatiable drive for... Darren

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