Monday, November 7, 2011

Daily Headlines: Monday, November 7, 2011

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Insurance Journal Daily Headlines
November 7, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Lawmakers Hit Lack of State Legislators on Federal Insurance Panel

The National Conference of Insurance Legislators said its members are disappointed by the lack of state lawmakers in the makeup of the ...

Investors Want ‘Secrecy’ Lifted in BofA Mortgage Securities Deal

Investors want to lift the "shroud of secrecy" over the proposed $8.5 billion settlement of Bank of America Corp.'s mortgage-backed ...

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 ...

Cost of Car Crashes Per Person: $1,500

The total cost of motor vehicle crashes in the U.S. totals $299.5 billion, according to a study done for the auto club AAA. According to ...

Regulators Publish Surplus Lines ‘Alien’ Insurer Eligibility List

The National Association of Insurance Commissioners (NAIC) posted its Quarterly Listing of Alien Insurers, available for reference and ...

Ratings Roundup: Nonprofits Alliance, Infinity, Partners Mutual

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of "a" of the Nonprofits ...

Zolty Joins LIG Marine Managers

St. Petersburg, Fla.-based LIG Marine Managers announced that Richard C. Zolty has joined LIG as senior ccnsultant and longshore insurance ...

NCCI Study Examines Medical Services in Workers’ Comp Claims

A new report on medical services casts light on how different combinations of medical services contribute to workers' compensation claim ...

From MyNewMarkets.com MyNewMarkets.com Call For Article Submissions & Guidelines

MyNewMarkets.com welcomes submissions of story ideas and bylined articles. Below you will find a basic guideline on how to submit a story...
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East

Some in Connecticut Still Without Power

Some of the thousands of Connecticut residents still in the dark Monday may not have power restored until mid-week, more than 10 days after ...

XL Appoints Seib as Excess Casualty Team President in New York

XL Group's North America property/casualty insurance group appointed Lorraine Seib as president of its excess casualty team. Based in New ...

Liberty Mutual Posts $111M Q3 Loss, Hurt By CAT Loss, Asbestos Charge

Liberty Mutual Group reported a net loss of $111 million for its third quarter. In contrast, the third-largest property/casualty insurer in ...

FEMA Approves Virginia’s Second Appeal for Quake Aid

The Federal Emergency Management Agency has approved Virginia's second request for assistance for those whose property was damaged in the ...

Pennsylvania Agency Owners Indicted for Fraud

Penn. Agency Owners Indicted Insurance agency owners from Pennsylvania were indicted this week with 13 counts of wire fraud, mail fraud and ...
Midwest

Wisconsin Teen Settles Police Dog Bite Claim

A Wisconsin teen who sued after he was bitten by a police dog has settled the case for $210,000. Seventeen-year-old Nate Livermore suffered ...

Wisconsin Trespasser Liability Goes to Governor

The Republican-controlled Wisconsin Legislature has passed a bill that would reduce property owners' liability for a trespasser's injuries ...

FEMA Extends Deadline to Seek Flood Assistance in Missouri

The Federal Emergency Management Agency has again extended the deadline for residents in six Missouri counties to apply for federal ...

Missouri Disaster Bill at $15M so Far, Likely to Rise

Missouri has spent about $15 million so far this year responding to natural disasters such as the deadly Joplin tornado and flooding along ...

Crops Rebound Better Than Expected at Birds Point

When the Army Corps of Engineers was forced to breach the Birds Point levee in southeast Missouri at the height of spring flooding, many ...
Southeast

Florida’s Citizens Cutting Back on Coverage

Florida homeowners who insure their homes through the state-run property insurer, Citizens, will have less coverage available next year. ...

Berkshire Hathaway Q3 Profit Falls on Derivatives

Warren Buffett's conglomerate Berkshire Hathaway Inc. reported a smaller third-quarter profit Friday after losing more than $2 billion on ...

Settlement Near in West Virginia Sago Mine Disaster

A West Virginia judge will consider approving a settlement in the six remaining wrongful-death lawsuits filed by the families of miners who ...
South Central

Numerous Aftershocks Follow 5.6 Magnitude Earthquake in Central Oklahoma

Central Oklahoma on Nov. 6 experienced dozens of aftershocks following a magnitude 5.6 earthquake that hit late in the evening on Nov. 5 ...

Halliburton Sued Over Pollution at Oklahoma Missile Casing Site

Halliburton Co. faces lawsuits over groundwater pollution near a now-closed facility in Oklahoma that cleaned missile casings for the U.S. ...

Louisiana Insurance Agent Arrested for Alleged Fraud, Forgery

A Shreveport, La., insurance agent has been arrested on charges of insurance fraud and forgery. The Louisiana State Police Insurance ...

Millions Awarded in Louisiana Oil Lawsuit

A Terrebonne Parish, Louisiana judge has awarded more than $11 million to a Houma family stemming from a dispute over unpaid oil royalties. ...

Texas Lawmaker Uses Jewish Slur in Windstorm Hearing, Then Apologizes

A Texas state lawmaker on Nov. 3 used a Jewish slur during a legislative committee hearing while telling officials not to delay or cheat ...
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West

Colorado Panel to Examine Pinnacol Privatization Proposal

A proposal to privatize the state-chartered workers' compensation insurer, Pinnacol Assurance, would give Colorado a $340 million ownership ...

Private Equity Firm Acquires DAVID Corp. of California

Private equity firm Phoenix Asset Management has acquired DAVID Corp., a provider of risk management and insurance software and services. ...

California Workers' Compensation Cost Benchmark, Hike Approved

The Workers' Compensation Insurance Rating Bureau's filing to change the way the state's workers' compensation pure premium rate is ...
International

Floods Hit France, Italy; UK Motorway Crash Leaves 7 Dead, 51 Injured

Continuing heavy rains have caused serious flooding in southern France and throughout Italy, with little letup in sight. In western England ...

Third Quarter Earnings Report: Maiden Holdings

CEO Art Raschbaum commented: "We are very pleased with our third quarter results which...

Best Affirms Hannover Re and Subs ‘A’ Ratings; Outlook Positive

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

Aon Appoints Manwaring to Lead Legal Indemnity Practice

Aon Risk Solutions, the risk management business of Aon Corp, announced the appointment of Mark Manwaring as client director responsible ...

Ratings Recap: Tokio Millennium Re, Alterra Re Europe, Harmony General

A.M. Best Co. has upgraded the financial strength rating to 'A++' (Superior) from 'A+' (Superior) and the issuer credit rating to 'A++' ...
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Intermediary Value

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FERMA Growth Assured as Den Dekker Steps Down

Peter den Dekker's tenure as president of the Federation of European Risk Management...

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New Discussions in the Forums

Auto Dealership
Posted: Mon Nov 7 -- Anyone know of a market who will compete with Travelers and Zurich on a franchised auto dealer? I don't need a market for the comp but open... Halpert
Would joining both PIA and IIAB be redundant?
Posted: Sat Nov 5 -- I am very curious to hear opinions on whether it would be redundant for me to join both the National Association of Professional Insurance... John J90
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
Nursing Home (TX)
Posted: Fri Nov 4 -- I agree with above post that the best way of choosing a nursing home is by visiting it to get a feel of the place. Friends and relatives are... 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

Reader Comments

S&P Lowers Outlook on Allstate and Subs to Negative; Affirms Ratings
Posted: Thu Nov 3 -- To much Mayhem........ Agent
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
Company Health Plans Raising Costs for Smokers, Obese
Posted: Mon Oct 31 -- yeah, my company made smokers pay a premium last year for smoking (but to get out of it, all they had to do was lie and say they didn't... Real mom
Motorcycle Helmet Repeal Approved in Michigan House
Posted: Fri Nov 4 -- Thank you, Michigan, for such a stupid decision! I have seen more than one commercial policy limits claim paid for drivers involved with an... Candace
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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