Tuesday, November 8, 2011

Daily Headlines: Tuesday, November 8, 2011

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Insurance Journal Daily Headlines
November 8, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Health Costs of U.S. Climate Disasters of Last Decade: $14 Billion

Deaths and health problems from floods, drought and other U.S. disasters related to climate change cost an estimated $14 billion over the ...

Congress Eyes New Income Insurance for Farmers

Farm-state lawmakers are moving to create a whole new subsidy that would protect farmers when their revenue drops - an unprecedented ...

Appeals Court Upholds Obama Healthcare Law

A U.S. appeals court Tuesday upheld a lower court decision that had dismissed a challenge to President Barack Obama's signature healthcare ...

Insurance Groups Laud State Regulators’ Action to Reduce Reinsurance Collateral

State insurance regulators have approved a new model law and regulation on credit for reinsurance that allows some foreign reinsurers to ...

Torus Launches U.S. Professional, Management Liability Products

Torus now has U.S. professional and management liability primary underwriting capabilities. Led by Jeffrey Grange, senior vice president, ...

IronHealth to Offer Medical Professional Liability for Qualified Health Centers

IronHealth, the specialty healthcare unit of Ironshore Inc., is offering medical professional liability coverage for federally qualified ...

Moody’s Reports on Proposed Sytemic Risk Rules for Insurers

A key ratings agency says that recently proposed guidelines for identifying which insurers would qualify as systemic risks represent an ...

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

Used-Car Buyers Are Warned of Flood Vehicles In Wake of Irene

The National Insurance Crime Bureau is advising consumers to be alert for potentially dangerous flood vehicles appearing in the used-car ...

Penn.-based Keystone Insurers Group Adds New Partner in Ohio

Keystone Insurers Group, a franchisor of insurance agencies headquartered in Northumberland, Penn., has added a new franchise partner in ...
Midwest

Indiana Fair Stage Collapse Legal Claims Reach 100

The deadline for victims of the deadly Indiana State Fair stage collapse to file legal claims with the state has passed, and officials say ...

Wisconsin's Partners Mutual to Affiliate with Penn National Insurance

Partners Mutual Insurance Co. (Partners Mutual), headquartered in Waukesha, Wis., and Pennsylvania National Mutual Casualty Insurance Co., ...

Ohio's Dumbaugh Insurance Agency Joins Keystone Insurers Group

Mount Vernon, Ohio-based Dumbaugh Insurance Agency is now a partner in Keystone Insurers Group (KIG). Dumbaugh Insurance is Keystone's ...
Southeast

West Virginia Nursing Home Challenges $91 Million Jury Award

A Charleston nursing home is challenging a $91 million damage award in a lawsuit stemming from the death of an elderly woman hours after ...

Homeowners Choice Assumes HomeWise Policies in Florida

Homeowners Choice Property and Casualty Insurance Co. said it has acquired HomeWise Insurance Co.'s book of business in Florida. Approved ...

Mississippi Bike Fatality Prompts Vow to Enforce 3-Foot Rule

The death last month of a bicycle rider in a traffic accident has led city leaders in Oxford, Mississippi,  to take a stronger look at ...
South Central

Not Much Earthquake Insurance Sold in Oklahoma

About $6.7 million in earthquake insurance is written annually in Oklahoma, state insurance regulators say. Only about 1 percent of ...

American Contractors Insurance Group Names O'Neill CEO

American Contractors Insurance Group (ACIG), headquartered in Dallas, has named Michael J. O'Neill as its new CEO, effective Jan.1, 2012. ...

Oklahoma Lawmaker: State Needs to Review Earthquake Issues

In light of the increasing number and severity of earthquakes in Oklahoma, state Rep. Mike Shelton said lawmakers need to review disaster ...
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West

Listeria Lawsuits Could Target Grocers, Auditor

An outbreak of listeria in cantaloupe blamed for the deaths of 29 people could be costly for grocery stores, a distributor and an auditing ...

California MGA Yates Opens Northern California Office

Tustin, Calif.-based managing general agent Yates has opened a northern California office in Walnut Creek . Jon Uyeyama has joined the ...

Brown & Brown of Northern California Acquires Sitzmann Assets

Brown & Brown of Northern California Inc., a subsidiary of Brown & Brown, Inc. has acquired substantially all of the assets of ...

State Fund Announces Rate Filings, Incentives for California Farm Bureau

The government-controlled State Compensation Insurance Fund announced it has filed a new rating plan with the California Department of ...
International

In Abrupt Turnaround, Olympus Admits It Hid Losses for Decades

Japan's Olympus admitted on Tuesday it had hidden losses on securities investments dating back to the 1980s, succumbing to weeks of ...

Japan Tries, Again, to Cut Corporate Ties to Yakuza Crime Syndicates

Aki Tsurumaki says he never felt his life was in danger during the 15 years he has been helping companies escape entanglements with Japan's ...

Munich Re Posts $400 Million Q3 Profit in a ‘Difficult’ Year

Munich Re announced third-quarter profit "in a difficult environment" of €290 million [$400 million], compared to €761 million [$1.05 ...

Accounting Board May Change its ‘Fair Value’ Rule

A global accounting rule rushed through after pressure from politicians during the financial crisis may have to be tweaked, sparking ...

AIR Worldwide Launches Inland Flood Model for Germany

Catastrophe risk modeling firm AIR Worldwide has released an inland flood model for Germany, which it said "offers a fully probabilistic ...
Insurance Journal Blogs

My Love/Hate Relationship with LinkedIn

I dedicate this complaining blog post to Andy Rooney. Did you ever notice you get tons of LinkedIn requests? I do. Lots from vendors. Lots ...

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Insurance Journal TV

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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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Intermediary Value

The prolonged soft market and tough competition in the property/casualty insurance industry...

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New Discussions in the Forums

Would joining both PIA and IIAB be redundant?
Posted: Mon Nov 7 -- Our agency belongs to both associations, although the dual membership is more because our founder was a long time state and national... jckspann
Auto Dealership
Posted: Mon Nov 7 -- I've got a fantastic market for Non-Franchised, Repair Shops and Towing Operators all on Admitted paper if you have need. Fast turn-around.... Adame526

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
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
Company Health Plans Raising Costs for Smokers, Obese
Posted: Tue Nov 1 -- If you smoke cigarettes, your health will be compromised. I was a smoker -it was very, very hard to quit. If you eat junk food, fatty food,... Dee

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