Thursday, November 10, 2011

Daily Headlines: Thursday, November 10, 2011

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Insurance Journal Daily Headlines
November 10, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S. Reopens Public Database of Malpractice Claims Against Doctors

The U.S. government reopened public access to a database of malpractice claims and damages paid by doctors, with new restrictions that ...

Electronic Medical Records Not Without Risks to Patient Safety: Report

The nation's transition to electronic medical records, now in full swing, risks overlooking potential patient safety problems, independent ...

Life Insurer Sues Bank of America Over Mortgages

Bank of America Corp. and its Countrywide Financial unit were on Wednesday hit with a new lawsuit alleging fraud in the sale of residential ...

Insurance Executives Turn Pessimistic Over Business Outlook: Survey

Many U.S. insurance executives believe that business conditions have worsened compared to a year ago. Faced with continuing economic ...

Allstate Announces $1 Billion Share Buyback Plan

Allstate Corp.'s board of directors has approved a new $1 billion share repurchase program. The Northbrook, Illinois-based company will ...

11/11/11: What’s In a Number?

November 11, 2011 might hold special significance for some, since the date can also be written 11/11/11. When the calendar and its numbers ...

S&P Lowers State Auto Group’s Operating Company Ratings to ‘BBB+’

Standard & Poor's Ratings Services has lowered its counterparty credit and financial strength ratings on the operating insurance ...

Ratings Roundup: Torus Specialty, Assurant, National American

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

Towers Watson to Expand DriveAbility Program

With an increasing number of automobile insurers implementing usage-based insurance (UBI) products that analyze data from in-car devices ...

From MyNewMarkets.com Architects & Engineer Class Held Hostage by Price Cutting, Overcrowding

Even with historically low rates, tough competition, and a reduction in business, the architects and engineers professional liability class...
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East

Tower Group Has $16.4M Q3 Loss, Hurt By CAT Loss From Irene

Tower Group reported a net loss of $16.4 million attributable to common shareholders in the third quarter. In contrast, the insurer had ...

Selective Insurance Announces Two Promotions

Selective Insurance Group in Branchville, N.J., announced two promotions in its Selective Insurance Company of America subsidiary. Dana ...

CRC Insurance Services Appoints Casualty Broker in New Jersey

CRC Insurance Services, a wholesale broker headquartered in Birmingham, Ala., hired Kenneth Echols as a casualty broker for the Parsippany, ...

BDO Consulting Appoints Head of Insurance Claim Services in D.C.

BDO Consulting, a professional services provider, appointed Clark Schweers as managing director and head of its insurance claim services ...
Midwest

Missouri Pastor Pleads Guilty in Death of Congregant, an Insurance Agent

A former western Missouri pastor has pleaded guilty in the death of a former member of his church. Fifty-two-year-old David Love of ...

Signature Select LLC Acquires Kansas-based Cassell Insurance

Signature Select LLC, a retail insurance broker subsidiary of the IMA Financial Group Inc., has acquired Cassell Insurance of Wichita and ...

Bank of North Dakota May Offer Homeowners Low-Interest Disaster Loans

A key provision in the North Dakota Legislature's disaster aid bill would provide low-interest, unsecured loans of up to $30,000 for ...
Academy of Insurance presents : Advanced Basic Training Course for New Insurance Professionals
Southeast

Chaney Re-elected Mississippi Insurance Commissioner

Insurance Commissioner Mike Chaney won re-election in Tuesday's voting in Mississippi. Chaney, a Republican from Vicksburg, defeated ...

Florida Looks to Tampa as Leader in Fight Against PIP Fraud

The move by one Florida county to crack down on auto insurance fraud by targeting staged accidents and regulating clinics is being seen as ...
South Central

Coast Guard OKs Winding Down BP Spill Cleanup

BP will no longer be responsible for cleaning up oil that washes up on the Gulf Coast unless officials can prove it comes from the ...

Former Louisiana Lawmaker Shepherd Released to Halfway House

A former Louisiana state senator who pleaded guilty to money laundering in a fraudulent security bond fraud case has been released from ...

IBTX Risk Services Moving to New North Texas Location

IBTX Risk Services is moving its Dallas/Fort Worth office location to the Las Colinas Corporate Center II in Irving, Texas. The Nov. 18 ...

Federation of Insurance Women of Texas Elects New Officers

The Federation of Insurance Women of Texas, or FIWT, has installed new officers for 2012. Newly elected officers are: President Conya ...
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West

Another Suit Filed in Reno Air Race Tragedy

Another lawsuit has been filed in the Sept. 16 Reno Air Race crash that killed 11 people, including the pilot, and insured nearly 70 other ...

Powerful Storm Damages Roofs in Nome, Alaska

High winds and surging waves pummeled Alaska's western coast Wednesday, churning the Bering Sea and forcing residents of Nome and isolated ...

Colorado Wants Insurance Company to Cut Severance

Colorado wants top executives at the state-chartered workers' compensation insurance fund to waive big severance payments if the ...

Parents of Montana Shooting Victim Sue Shooter’s Father

The parents of a 10-year-old boy who was shot and killed by another boy in March have filed a lawsuit against the shooter's father and the ...
International

AIR Updates Analysis of Thai ‘Historic’ Flooding; BI Will Impact Insurers

According to catastrophe modeling firm AIR Worldwide, "historic flooding in Thailand continues to damage residential properties and has ...

Australia Urges Breaking up Doha Round into Smaller Pacts

Australia wants World Trade Organization members to recognize that reaching a comprehensive deal in decade-old world trade talks has become ...

Zurich Reports $3.2 Billion 9-Month Net Income; Operating Profit $3.258 Billion

Zurich Financial Services Group reported a business operating profit (BOP) for the nine months ended September 30, 2011 of $3.258 billion, ...

Hannover Re Posts $518 Million 9-Month Net Income

Germany's Hannover Re expressed satisfaction with the Group's net income for the first 9 months of 2011, as it posted a profit of €381.7 ...

Willis Report Concludes Airline Industry is Buyers' Market

An analysis from Willis Group Holdings concludes that "despite ongoing global economic challenges, the airline industry continues to ...

Hicks Joins UK’s Miller for Corporate Risks

London-based broker Miller Insurance announced that it is "expanding its successful Corporate Risks team and reinforcing its client service ...

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New Discussions in the Forums

What websites or app are agents using?
Posted: Thu Nov 10 -- Sethm, Could you be more specific regarding what software you use? Thanks, twobeacon
Energy Savings Insurance (ESI)
Posted: Thu Nov 10 -- According to an article I read, like any other insurance, ESI has its risks and coverages. Below are a few of them: - Not performing... robmejia
Business Loss - Travel Insurance
Posted: Thu Nov 10 -- Hi forumquestions, Can you elaborate on your question please? I'm wondering how business loss can be connected with a travel insurance. robmejia
Identity Theft coverage
Posted: Thu Nov 10 -- I read an article stating that it is stupid investment that one mustn't take. It's coverage is so small that it's basically a waste of... robmejia
Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Thu Nov 10 -- There are various companies online who sell travel insurance depending on the location they're residing. I'm wondering this kind of... robmejia
Internet Seach Company
Posted: Thu Nov 10 -- Yeah I agree with chizcurl. It's better to have an in-house SEO so your website can be optimized thoroughly and continuously. It might also... robmejia
Inland Marine Fraud
Posted: Wed Nov 9 -- Our agency recently wrote an Inland Marine policy for a business that needed coverage for about $230K worth of equipment financed by a large... threed
Wholesale Distr to Oil & Gas contractors in AR
Posted: Wed Nov 9 -- I'd like to talk to you about this risk as I may be able to help. We've had experience with this type of risk in AR before. Not sure of the... dlaughlin
Dental Plan or Dental Insurance
Posted: Wed Nov 9 -- Dental insurance is NOT insurance. This is a fallacy that many patients do not understand. The benefit from a dental insurance is a fixed... gandk452

Reader Comments

S&P Lowers Outlook on Allstate and Subs to Negative; Affirms Ratings
Posted: Thu Nov 3 -- To much Mayhem........ Agent
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
Appeals Court Upholds Obama Healthcare Law
Posted: Tue Nov 8 -- Liberal legislation from the bench again. Just read the Constitution. General Welfare clause my A*s. Whats to prevent the Fed from telling... Sarah
Insurers, Policyholders Clash Over Business Interruption Claims
Posted: Mon Nov 7 -- The argument that the hotels would have profited from the hurricane if they hadn't been impacted is totally self-serving and illogical. If... Scott
Wisconsin Teen Settles Police Dog Bite Claim
Posted: Mon Nov 7 -- It is the "cheaper to settle" attitude that costs all of us in the future. $200k is a lot to pay when you've done nothing wrong and for a... hakadjuster

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