Wednesday, November 23, 2011

Daily Headlines: Wednesday, November 23, 2011

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Insurance Journal Daily Headlines
November 23, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Black Friday, Cyber Monday Bring Out the Risk Grinch

The rush is the risk on Black Friday and Cyber Monday in the eyes of a retail insurance and risk expert who previously worked in retail for ...

Bank of America Reaches Settlement in Countrywide Case

Bank of America Corp. has reached a settlement with former Countrywide Financial Corp. institutional investors who decided not to join a ...

AIG Unlikely to Take Q4 Reserve Charges: Barclays

Bailed-out insurer American International Group is unlikely to add to reserves in the current quarter, though investors may not be ...

Federal Judge Sides with Netflix in Antitrust Case

A U.S. judge granted Netflix's bid to resolve all claims in its favor before trial in an antitrust class action, in which plaintiffs had ...

Merger, Acquistion Activity Remains Muted in 3Q

Financial market volatility and a difficult operating environment continued to stifle mergers and acquisitions activity for the ...

Ratings Recap: Standard Casualty, Grinnell, Erie & Niagara, Northwest GF Mutual

A.M. Best Co. has upgraded the financial strength rating to 'A-' (Excellent) from 'B++' (Good) and issuer credit rating to "a-" from ...

Thanksgiving Day is Top Day For Cooking Accidents

Serafino Alfe was deep-frying turkeys for an annual fundraiser dinner recently and ended up at the Loyola Burn unit with third-degree burns ...

From MyNewMarkets.com P/C Market to See Only Moderate Changes in Rates in 2012: Willis

Property/casualty insurance rates will continue to be flat to with some slight increases or decreases in most major and specialty lines of...
Academy of Insurance Cyber Monday Sale
East

I.I.I. Advises Thanksgiving Party Hosts on Limiting Liquor Liability

Thanksgiving marks the beginning of holiday season and for many that means party time. But hosts who serve alcohol should take steps to ...

N.Y. Court Rules on Asbestos Defense Costs for Primary Insurer

A New York State court ruled last Friday that an asbestos defendant is entitled to full defense from its primary insurer for certain ...

Maryland Insurance Administration Announces Senior Appointments

Maryland Insurance Commissioner Therese Goldsmith recently announced three senior appointments at the Maryland Insurance Administration. ...
Midwest

Vehicle Accidents on the Rise in North Dakota Oil Boom Town

Authorities in the city that serves as the hub for North Dakota's oil activity say vehicle accidents are on the rise. Statistics released ...

Insurance Too Pricey for Anti-Wall Street Protesters in Duluth, Minnesota

Anti-Wall Street protesters ignored police orders to get a permit and limit their encampment to one tent in downtown Duluth, Minn. The ...

Ohio Businesses Awarded More Than $273K for Workplace Safety

The Ohio Bureau of Workers' Compensation (BWC) awarded 13 businesses safety intervention grants totaling more than $273,000 during ...

Irwin to Lead Illinois Council of IAIP

The Illinois council of the International Association of Insurance Professionals (IAIP), formerly known as NAIW, has installed new ...

Perrotti Named Senior VP in XL's Marine Insurance Unit

The marine insurance unit at XL Group plc has added Michael Perrotti as senior vice president, marine field operations. He is based in ...
Academy of Insurance Cyber Monday Sale
Southeast

Georgia Jury Awards $9.85 Million in Child’s Drowning

A Gwinnett County jury has awarded $9.85 million in damages in a wrongful death lawsuit brought by parents of a 2-year-old who died from ...
South Central

Midlands Management Enhances Earthquake Coverage in Oklahoma

Oklahoma Insurance Commissioner John D. Doak announced that an Oklahoma general insurance agency is adding earthquake deductible buy-down ...

Two North Texas Men Sentenced in Arson for Insurance Case

Two men in Texas have been sentenced to prison for conspiring to commit arson in order to obtain insurance proceeds, the U.S. Attorney's ...

Texas Mutual Promotes Lentz to VP of Underwriting

Texas Mutual Insurance Co. has promoted Jeff Lentz from senior manager of underwriting and marketing to vice president of underwriting. In ...
West

The Liberty Company Expands to Entertainment Industry

The Liberty Company Insurance Brokers Inc. is extending its services into the entertainment industry through Liberty Entertainment ...

Report Links Wildfires to Immigrants in Arizona

A study by Congress' investigative arm shows investigators have linked 30 fires that erupted in a five-year period in Arizona's border ...

Utah's Liquor Board Discussing Recommended Changes

Changes to Utah's liquor agency recommended by a series of critical audits are beginning to be implemented. Department of Alcoholic ...

Insurance Won’t Cover Idaho Sheriff for Personnel Claims

Owyhee County's insurer told the county commissioners it would no longer cover the sheriff against any claims involving personnel matters, ...

Plan for Biomass Plant in Vancouver Canceled

Plans have been canceled for a power plant in Vancouver, Wash. that would have burned wood debris. Schneider Electric of Seattle had a ...

Ox Bonding Enters Oregon

Oregon contractors will have another option for surety bonds after the state approved Ox Bonding and affiliate carrier, Upper Hudson ...

Perfect Storm of Conditions Fueled Big Reno Fire

One of the worst fires in Nevada's history was nearly a perfect storm of unfavorable conditions and unfortunate circumstances, and both the ...
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International

Lockton Market Update Sees Signs of End to Executive Risks Soft Market

A new updated report from insurance broker Lockton concludes that the "prolonged buyer's market in the executive risks insurance market may ...

Willis Re Canada Appoints Bradshaw as Board Chairman

Willis Re Canada marked the completion of its first full year of operations in the country with the announcement of the appointment of Jim ...

Best Affirms AXIS Specialty, Affiliates Ratings; Raises Outlook to Positive

A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of 'A' (Excellent) and ...

Ratings Recap: BEST RE, Garant, ZEP-RE, East Africa Re, Custodian

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

Ironshore Australia Launches M&A Product Suite

Ironshore Australia has established a merger and acquisition suite of products that will be available throughout the Asia Pacific region. ...
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New Discussions in the Forums

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
What is the Purpose of An Agency Website?
Posted: Tue Nov 22 -- I have personally seen more and more activity coming from our agencys website. Pretend you are a savy consumer, and want to research agents... HarrisburgAgent
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

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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