Monday, November 28, 2011

Daily Headlines: Monday, November 28, 2011

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Insurance Journal Daily Headlines
November 28, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insured Loss Estimate from Hurricane Irene Rises to $4.3 Billion

An insurance industry service that tracks catastrophe losses has sharply raised its estimates for August's Hurricane Irene, projecting ...

Supreme Court to Decide Whether Harm Needed in Kickback Suits

In a dispute pitting big business against consumer groups, the U.S. Supreme Court hears arguments Monday on whether a person has to suffer ...

Whistleblower Laws, Lucrative for Some States, Stall in Others

For many states, a law intended to root out corruption also has been good for the bottom line. Over the last decade, more than 20 states ...

Federal Regulator Opening Formal Probe into GM Volt Fire Risk

U.S. auto safety regulators are opening a formal investigation into fire risks in General Motors' Volt vehicles, the National Highway ...

How to Compete for Personal Lines with the Direct Writers

Let's face facts. It's unlikely that any individual independent agency will ever "beat" the direct writers. They have massive ...

Best Affirms Virginia Surety Co. Ratings; Outlook Positive

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

Ratings Roundup: Hiscox (US), Western Mutual

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Chicago-based Hiscox ...

From MyNewMarkets.com Next Big Thing in Insurance Coverage?

Some in the insurance industry are staking their futures on the reputations of others. That is, they are looking to insure reputational...
Academy of Insurance Cyber Monday Sale
East

U.S. Rep. Barney Frank of Massachusetts Won’t Seek Re-election

U.S. Democratic Representative Barney Frank, who helped to craft the landmark overhaul of financial regulations that bears his name, will ...

Some New Jersey Towns Taking Steps to Reduce Flooding

Several northern New Jersey towns hit hard by recent flooding are taking steps to make sure it doesn't happen again. New Jersey's ...

Massachusetts Lawmakers Weigh Changes to Motorcycle Laws

Massachusetts lawmakers are weighing changes to the state's motorcycle laws, including bills designed to ease the requirement that riders ...

Virginia School Officials Face $31.5M Lawsuit

Another local school district in Virginia is facing a multimillion-dollar lawsuit over allegations of a child being assaulted on a school ...
Midwest

Indiana Senator to Lead National Insurance Group

Indiana Senate Democratic Leader Vi Simpson is leading a national group of lawmakers looking to streamline insurance policy across the ...

80% of Claims from May Tornado in Minneapolis Have Been Resolved

The Minnesota Department of Commerce has reported that insurance companies have resolved about 80 percent of the claims generated after a ...

Former North Dakota Insurance Agent Admits to Mail, Wire Fraud

A former Minot, N.D., insurance agent has pleaded guilty to mail and wire fraud charges in federal court. Court documents indicate Alan ...
Southeast

Insurer Must Pay for Florida Rental Car Crash by Unauthorized Driver

A Florida rental car customer's auto insurer must cover crash injuries, even though the driver was someone not authorized under the rental ...

5 Mississippi Home Buyouts Could Happen in New Year

Five property owners whose homes were inundated by the spring flood could have their homes bought out by the city of Vicksburg next year. ...
South Central

More Earthquakes Recorded in Oklahoma; Gov. Requests Disaster Assistance

At least five small earthquakes were recorded in central Oklahoma over the long Thanksgiving weekend. The U.S. Geological Survey says a 2.4 ...

New Orleans Seeking Artists to Create Evacuation Point Icon

It's a tall order for an artist: create a design for a long-lasting work of public art — a new icon for the city of New Orleans — that ...

Land O'Lakes Gives $10K to Texas Volunteer Fire Departments

Land O'Lakes Inc. Foundation has donated $10,000 to Texas Forest Service's Volunteer Fire Department assistance fund. Volunteer fire ...
West

Montana State Fund Issues $6 Million Dividend

Montana State Fund says its workers' compensation insurance policyholders will be getting a $6 million dividend. The board of directors ...

PMI in Arizona Files Chapter 11

Arizona-based mortgage insurer The PMI Group Inc. (NYSE: PMI) has filed for voluntary relief under chapter 11 of the United States ...

Freeway Insurance Names Hudson COO

Buena Park, Calif.-based Freeway Insurance has promoted Norm Hudson to chief operating officer. Hudson ascends to the post from his former ...
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International

Best Briefing Concludes Majority of Thai Flood Losses from BI Claims

A.M. Best Co. reports that the vast majority of insurance losses stemming from the massive flooding in Thailand will come predominately ...

India’s Bharti, Reliance End Talks on Insurance Joint Ventures Deal

Reliance Industries has mutually agreed to end negotiations with Bharti Enterprises to buy its stakes in two insurance joint ventures with ...

Last Chance to Save Kyoto Deal at Durban Climate Talks

Countries will make a last ditch effort to save a dying Kyoto Protocol at global climate talks starting on Monday aimed at cutting the ...

Willis UK Networks Given ‘Chartered Insurance Brokers’ Status

The Willis UK brokers Networks team has been awarded the title of "Chartered Insurance Brokers" by the Chartered Insurance Institute ...

Catalina Holdings Names Kauer CFO/COO of Glacier Re in Runoff

Catalina Holdings (Bermuda) Ltd has appointed Martin Kauer to the joint roles of Chief Financial Officer and Chief Operating Officer ...

Best Affirms Hiscox and Operating Companies ‘A’ Ratings; Outlook Stable

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

Ratings: Bahrain Kuwait, Twin Bridges/Majestic, GTA Assur, Bahamas First, swisspartners (SPV & SPC)

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

World Economy Counts the Cost of Euro Zone Dithering

From credit bottlenecks in Eastern Europe to slower growth in China, delays in tackling the euro zone's debt crisis are causing ...
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Weather Map Added to ClaimsJournal.com

SAN DIEGO, 11/28/11 – Wells Publishing, Inc. announces the addition of a weather map to ClaimsJournal.com, the company's website for ...

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New Discussions in the Forums

Agency Management System
Posted: Sun Nov 27 -- we are currently on applied/tam and very unhappy with their real time support and the system in general. we are looking at Nexsure and would... mindi
QuickBooks
Posted: Fri Nov 25 -- Quickbooks is definitely the way to go because it's an all-in-one business suite. The system is integrated and offers great ease and... robmejia
Which carrier is best for hotels?
Posted: Wed Nov 23 -- You can contact insurance.ca.gov. Try asking for a list of carriers. You can also post general questions or inquiries to insurance-related... sethm
Energy Savings Insurance (ESI)
Posted: Wed Nov 23 -- I think there's a need for such insurance. In fact, energy savings insurance was first offered many many years ago, but failed to make... sethm

Reader Comments

Georgia Factory Worker Sues After Being Fired for Refusal to Wear '666'
Posted: Mon Nov 21 -- I would have refused to wear it, too. Could they have just let him wear 667-1? Management is surprising sometimes. This is in a very... Mark of the Beast
Ex-Rhode Island Insurance Adjuster Seeks to Avoid Prison
Posted: Mon Nov 21 -- I think his professional status should be taken into account and he should be charged worse than a normal person committing such a crime.... Erik
U.S. Healthcare Cuts Minimal, More Pain Looms
Posted: Tue Nov 22 -- Doctors, Clinics, Hospitals and Vendors will soon see the gravy train end and they may have trouble making their Mercedes payments. They... Veteran Agent
Thanksgiving Day is Top Day For Cooking Accidents
Posted: Wed Nov 23 -- I laughed when I read in the article the following sentence: "Esposito offered safety tips for those planning to sue a fryer:" Is that a... The Other Point of View
Supreme Court Names Lawyers to Argue Healthcare Case
Posted: Mon Nov 21 -- If the individual mandate is struck down, they better strike down the guarantee-issue provision which bars insurers from refusing to issue... DS

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