Monday, November 21, 2011

Daily Headlines: Monday, November 21, 2011

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Insurance Journal Daily Headlines
November 21, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Starr International Files $25B Suit Against U.S. Over AIG Takeover

A company run by former American International Group Inc. Chief Executive Maurice "Hank'' Greenberg Monday filed a $25 billion lawsuit ...

Supreme Court Names Lawyers to Argue Healthcare Case

The Supreme Court has named an attorney to argue that challenges to President Barack Obama's healthcare insurance requirements must wait ...

Catastrophe Property Market Under Pressure: NAPCO

The catastrophe property market seems to be moving away from soft market pricing conditions, but weak insurance demand and too much ...

From MyNewMarkets.com Insurers, Policyholders Clash Over Business Interruption Claims

Over the years, insurance companies and policyholders have been arguing in courts over how to calculate business interruption losses during...
East

Transatlantic Agrees to be Acquired by Alleghany for $3.4B

Transatlantic Holdings Inc., a reinsurer that has gotten a number of takeover offers since calling off a merger deal with Allied World ...

Connecticut Utility CEO Out Amid Post-Storm Criticism

The president and chief operating officer of Connecticut Light & Power has resigned as the company continues to come under fire for its ...

Ex-Rhode Island Insurance Adjuster Seeks to Avoid Prison

A former Rhode Island insurance adjuster is asking a federal court not to count his professional expertise against him when sentencing him ...

Maine Workers’ Comp Rates to Go Down Next Year

Maine Insurance Superintendent Eric Cioppa said the Bureau of Insurance has approved the National Council on Compensation Insurance's ...

$2.5M in Earthquake Aid Approved for Louisa County, Virginia

More than $2.5 million in grants have been approved this month for Louisa County homeowners hit by a powerful Aug. 23 earthquake and its ...
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Midwest

Ohio Rolls Out Rating Plan Aimed at Increasing Return to Work Rates

The Ohio Bureau of Workers' Compensation (BWC) has introduced a new rating plan that encourages employers to maintain safe workplaces and ...

$10M Settlement in Missouri Asbestos Lawsuit

The family of a longtime Jackson County, Missouri courthouse employee has accepted a $10 million settlement in a lawsuit involving the ...

Kansas Hospital Alerts Patients to Online Security Breach

Officials at Lawrence Memorial Hospital in Lawrence, Kan., said they are anticipating a federal investigation and possible fine after an ...
Southeast

Georgia Factory Worker Sues After Being Fired for Refusal to Wear ’666′

A Georgia factory worker claims in a federal lawsuit that he was fired after he refused to wear a `666' sticker he feared would doom him to ...

North Carolina Wants FEMA Extension for Irene Claims

North Carolina's insurance commissioner says residents need more time to file insurance claims stemming from losses suffered during ...

Zurich, Patriot National Ink Deal to Provide Workers’ Comp

A Florida workers' compensation insurer has reached a deal with a California company to underwrite its workers' compensation policies ...

Kentucky Contractors Self-Insurance Fund Pays out Millions in Dividends

General contractors in Kentucky who purchase their workers' compensation insurance through an industry-run risk pool are slated to see ...
South Central

Texas DPS: More than 66K Unsafe Commercial Vehicles Sidelined This Year

Since the beginning of the year, Texas public safety officers have removed more than 66,000 unsafe commercial vehicles and more than 12,000 ...

Deadline at Hand in $750M Rice Settlement

Rice growers who lost sales after genetically modified rice seed mistakenly entered the U.S. market five years ago have until today to sign ...
West

Nevada Declares Emergency Over Wildfire

Nevada Gov. Brian Sandoval on Friday declared a state of emergency associated with the Caughlin Ranch fire, which has so far reportedly ...

California’s State Fund Declares $50 Million in Dividends for Policyholders

California's State Compensation Insurance Fund on Friday announced plans to disburse a $50 million dividend to qualifying policyholders in ...

California’s State Fund Names Welsh Chief for Workplace Safety

California's State Compensation Insurance Fund on Friday named Len Welsh head of workplace safety. Welsh is charged with directing State ...

Southern California Food Importer to Pay $400K in Discrimination Case

A Southern California Asian food importer has agreed to pay $400,000 in back wages and interest to 71 women who were rejected for sales ...
International

UK Security Firms Take up Arms against Pirates

Security firms led by G4S are providing armed guards to ships sailing pirate-infested Somali waters, with one start-up kitting out a ...

Insurers Bracing for Thai Flood Claims over $10 Billion

Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing ...

Buffet on Japan Visit; Says Euro Zone Has ‘Major Flaw’

Billionaire investor Warren Buffett said Europe's debt crisis had shown up a "major flaw" in the 17-member euro zone system and it would ...

Chevron Takes Full Responsibility for Brazil Oil Spill

U.S. oil company Chevron will fully clean up a spill off Brazil's coast, George Buck, the CEO of the local subsidiary said on Sunday, ...

Best Places Generali, Main Subsidiaries’ Ratings under Review/Negative

A.M. Best Europe - Rating Services Limited has taken action in the wake if the Italian financial crisis by placing the financial strength ...

LMA Highlights Training Academy Role with Baker Appointment

Ben Baker, the Lloyd's Market Association's (LMA) former Senior Underwriting Executive, has been promoted to the role of the ...

Best Affirms Zurich Insurance ‘A+’ Ratings; Outlook Stable

A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit rating ...

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Pat Ryan Asks, 'Are You Happy?'

Patrick Ryan is an innovator who sees opportunity. And it was opportunity that drove him to...
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Does Innovation Miss the Mark?

Michael Lee, founder, chairman and CEO of the Tower Group, doesn't believe innovation runs...

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New Discussions in the Forums

In search of separate Umbrella for standard carrier policies
Posted: Sun Nov 20 -- I like RLI. They are standard and have a good bit of flexibility. Thanks, Bob... IndependentAgent
Android Applications/Insurance Related
Posted: Fri Nov 18 -- SEHmobile and StateFarm Pocket Agent are among the android apps that have been used by some insurance agents. chizcurlz

Reader Comments

NYC Health Club Member Sues Over Breakfast Promise
Posted: Thu Nov 17 -- I guess fat cats don't realize there's no such thing as "free"; poor baby had to go without his breakfast at his health club. Ins agent
Banks Having to Defend Credit Card Insurance
Posted: Wed Nov 16 -- Why am I not surprised to hear this is a Capital one customer?! UnhappyCapitalOneCustomer
President Obama Insured Against Attack While in Australia
Posted: Thu Nov 17 -- I will bite my tongue so I don't have the Secret Service on my butt! Compman
Court: Texas Couple Can Sue Over Dog's Sentimental Value
Posted: Wed Nov 16 -- Hopefully this will open the doors to more lawsuits where an animal is "accidentally" euthanized. Pets should not be viewed as "property" All for the dog!
South Carolina Judge Awards Sex Abuse Victim $14 Million
Posted: Fri Nov 18 -- Unfortunately for her, he probably has no money so it really doesn't matter if it is $14 million or $14 billion. She won't see a... Compman

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