Tuesday, November 22, 2011

Daily Headlines: Tuesday, November 22, 2011

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Insurance Journal Daily Headlines
November 22, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Agency E&O Survey: Why Agents Buy Coverage

Agency owners have a lot to protect. Of course, first and foremost they must protect their clients. But they must also protect their book ...

U.S. Healthcare Cuts Minimal, More Pain Looms

The breakdown of deficit talks in Congress will exact little pain on the U.S. healthcare industry, but it's a temporary reprieve from ...

The Competitive Advantage: Procedural Consistency and Agency E&O

I have often been asked why procedural consistency is important for reducing errors and omissions (E&O) exposures. Another way of ...

Professional Lines Market Faces Uncertainty: Torus

The professional liability insurance market will face challenges in 2012 with widespread concerns over pricing, a heightened awareness of ...

Best Affirms Zurich American and Subs ‘A+’ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of Zurich ...

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

New York Court Allows Lawsuit Over Bogus Home Appraisals

New York's highest court allowed the state Tuesday to proceed with a lawsuit that had accused First American Corp. and its eAppraiseIt unit ...

Claimed Auto Injury Losses in N.Y. Metro Area Rose 70% in 10 Years

Personal injury protection (PIP) claims closed in 2010 show that claimed losses for medical expenses, lost wages, and other expenses from ...

Officials Say Western New York Tornadoes Cost $760K

The Chautauqua County Office of Emergency Services says tornadoes that touched down in three western New York communities a week ago caused ...

25 Sickened by Carbon Monoxide at Pennsylvania Tractor Pull Event

Fire officials had to close down a tractor pull event at the Pennsylvania Farm Show complex after carbon monoxide sickened more than two ...

New York Loosens Commercial Insurance Regulations for Large Insureds

New York State Department of Financial Services announced on Monday that it issued new regulations to implement a recently adopted state ...

New York Insurance Association Elects Rice as New Chairman

Jeffrey Rice, president and CEO of Wayne Cooperative Insurance Company in Clyde, N.Y., was elected chair of the New York Insurance ...
Professional Liability Training Pack from IJ Academy
Midwest

Post Earthquake, Joplin, Missouri, Rebuilding Permits Setting Records

Joplin, Mo., is building at a record pace after the town was devastated by a tornado in May, and city officials said they expect the ...

Minot, North Dakota Proposes Diversion Plan for Souris River

Minot, N.D., officials are proposing a flood diversion plan for a river that spilled its banks earlier this year and forced thousands of ...

Ratings of Northwest G.F. Mutual Insurance Co. Downgraded

A.M. Best Co. has downgraded the financial strength rating to B- (Fair) from B+ (Good) and issuer credit rating to "bb-" from ...
Southeast

Kentucky Amish Teen Killed When SUV Strikes Buggy

An Amish teenager was killed when the horse-drawn buggy he was driving was struck from behind by a sport-utility vehicle in south-central ...

Atlanta Pays More Than $1M for Damage Claims

The city of Atlanta has shelled out about $1.25 million since 2010 to settle damage claims related to broken water meter covers, potholes, ...

Georgia to Get Earthquake Monitors

Researchers in a nationwide study of earthquakes will soon place instruments beneath the Georgia red clay and in other eastern states as ...

Allstate Drops North Carolina Homeowners Who Insure Autos Elsewhere

Some North Carolina residents who insure their residences through Allstate are finding themselves dropped by the company for refusing to ...

American Platinum Writes First Homeowners Policy in Florida

Florida has a new player in the insurance market for high-value homes and inland marine policies. Universal Insurance Holdings Inc. ...
South Central

Small Oklahoma Quake Reinforces Need for Repsonse, Preparedness Training

A small earthquake was recorded in central Oklahoma on Nov. 21 — on a day that executives from the California Earthquake Authority met ...

Tornado Recovery Efforts Ongoing in Oklahoma's McClain County

An amputee needed a new wheelchair ramp to get into his tornado-damaged home. Some of his neighbors have moved into trailers, or remained ...

Doctors Continue to Work While Under Investigation in Louisiana

Four Louisiana physicians wrote hundreds of bogus prescriptions that powered multimillion-dollar health-care frauds in the Baton Rouge ...
West

Everest Expands Professional Liability with West Coast Office

Everest Re Group Ltd. is expanding its professional liability insurance operation, Everest Specialty Unit (ESU), with the opening of a west ...

PacWest Alliance Adds Two New Members

PacificWest Alliance Insurance Services Inc. has added two new members in California. Cornerstone Commercial & Personal Insurance ...

Poms Hires Director of Risk Services in Southern California

Dennis Healy has joined Poms & Associates Insurance Brokers Inc.'s Woodland Hills office as director of Risk Services. Healy has more ...
International

Brazil Fines Chevron $28 Million for Oil Spill; Backlash Feared

Brazil's government slapped Chevron with a $28 million fine on Monday for causing an offshore oil spill, and the penalty could rise as the ...

Record High Greenhouse Gases to Linger for Decades

Concentrations of the three main greenhouse gases blamed for global warming reached record levels in 2010 and will linger in the atmosphere ...

Best Performs Added Stress Testing Due to Europe’s Economic Uncertainty

A.M. Best Co. announced that it has performed additional stress tests of the balance sheets of insurers' exposure to euro zone debt as ...

ABI Endorses ‘Tougher Measures’ to Improve Young Drivers’ Safety

The Association of British Insurers has strongly endorsed "tougher measures to improve young driver safety," which it explained is "crucial ...

Riley to Succeed Hurst-Bannister as Chairman of LMG

Stephen Riley, Executive Director of Global Aerospace and chairman of the International Underwriting Association, has been named to become ...

JLT Re Names Beatty Managing Director - Asia Pacific

JLT Reinsurance Brokers Limited (JLT Re) announced the appointment of Stuart Beatty as Managing Director, Asia Pacific (APAC), JLT Re Fac. ...
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New Discussions in the Forums

Metal mfg in CA
Posted: Tue Nov 22 -- I can definitely help. Feel free to send me what you have for submission: Acord 125, 126 and completed contractors supplemental along with... Adame526
AZ Home "Flipper" Insurance Coverage Needed
Posted: Mon Nov 21 -- Check with Lexington. I believe they have such a program. wariline
Do Not Call List Help
Posted: Mon Nov 21 -- Thank you for your help. I will check it out and see if it will work for my office as well. Thank you again for the response. Eagleeye
CA Roofing Contractor WC
Posted: Mon Nov 21 -- I was a first time customer of WC & very pleased with the service. I'll never use another company,except them, I think they are the best in... tkishore123
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
What is the Purpose of An Agency Website?
Posted: Fri Nov 18 -- Having a website for your business or agency is really important. Now that a lot of people are using internet to search for a stuff they... 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
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
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

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November 21, 2011

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