Wednesday, November 9, 2011

Daily Headlines: Wednesday, November 9, 2011

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Insurance Journal Daily Headlines
November 9, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Nationwide Test of Emergency Alert System Set for Today on Radio, TV

The Federal Emergency Management Agency (FEMA), along with its federal, state and local partners, is reminding the American public that ...

Firms Want Government Probes Banned from Gulf Oil Spill Liability Trial

The companies involved in the worst offshore oil spill in U.S. history are trying to prevent government investigations blaming them for the ...

Justice Department to Clarify Guidelines for Bribery Probes

A top Justice Department official said Tuesday the agency will clarify next year what triggers anti-corruption probes into U.S. ...

Lawmakers Urge U.S. Caution on Japan Trade Talks

Four senior U.S. lawmakers Tuesday urged President Barack Obama's administration not to make a hasty decision to begin free trade talks ...

LexisNexis Selling P/C Insurance Software Business

LexisNexis Risk Solutions said it is selling its property/casualty insurance software business to a San Francisco-based private equity ...

Wells Fargo Agrees to Settle Derivative Suits with Municipalities

Wells Fargo & Co. has agreed to settle class-action lawsuits filed by various municipalities alleging bid-rigging by Wachovia's ...

New Main Street America Unit Targets Large Surety Accounts

The Main Street America Group has created a commercial surety national accounts unit to focus exclusively on large accounts. The unit will ...

Sentry Expands Casualty Products to Clients with Overseas Operations

Sentry Insurance is now offering foreign general liability and foreign voluntary workers' compensation to U.S.-based clients with ...

Wells Fargo Insurance Introduces Affordable Housing Insurance Program

Wells Fargo Insurance Services USA Inc. and the National Affordable Housing Management Association (NAHMA) have launched a Multifamily ...

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

Northeast Power Outages Hit Many Businesses Hard

Business owners and experts say the lengthy power outages caused by the freak October snowstorm have taken a toll on many companies and the ...

Markel Posts $54.7M Q3 Income, Sees Firming in Workers’ Comp Market

Markel Corporation reported $54.7 million for its third-quarter net income, down 13.4 percent from one year ago when the specialty insurer ...

Alleghany Posts $19.2M Q3 Profit, Down 48% From Last Year

Alleghany Corp. reported $19.2 million in third-quarter net earnings, down 48 percent from one year ago when the company had $36.6 million ...

Mass.-based Farrell Backlund Agency Acquires Richardson-Cuddy

Taunton, Mass.-based Farrell Backlund Insurance Agency has purchased Richardson-Cuddy Insurance Agency in the nearby city of Attleboro, ...

Erie Indemnity Posts $47M Q3 Profit, Down 13% From Last Year

Erie Indemnity, the managing company for Erie Insurance Group's reciprocal insurance company, reported $47 million third-quarter profit. ...
Midwest

State Auto Financial Reports Loss of $58.7M in Q3

Columbus, Ohio-based State Auto Financial Corp. has reported a third quarter 2011 net loss of $58.7 million, or $1.46 per diluted share, ...

North Dakota Governor Asks Legislature to Approve Disaster Help

North Dakota Gov. Jack Dalrymple has unveiled a $569 million plan to provide disaster aid to flood-stricken areas and to help western North ...

North Dakota's Hamm Elected VP of National Insurance Regulators Group

North Dakota Insurance Commissioner Adam Hamm has been elected vice president of the National Association of Insurance Commissioners. Hamm ...
Southeast

Georgia Allowed to Phase-In Healthcare Law’s Medical Loss Ratio

Health insurers in Georgia have been granted a waiver to a new federal requirement that they spend certain minimums on patient care and ...

Kentucky Reports Year’s 7th Miner Death

A foreman has been killed at an underground mine in eastern Kentucky, the third mine-related fatality in the state in 10 days. State ...
South Central

Gulf Oil-spill Workers Sought for Study

Federal researchers are looking for cleanup workers willing to participate in a $17.8 million study of long-term health effects from last ...

Louisiana Commissioner Re-elected by Large Margin

While pundits were saying that Louisiana Gov. Bobby Jindal, with almost 66 percent of the vote, rolled up the most lopsided win in a ...

Texas Mutual Wraps up $155M Dividend Distribution

Texas Mutual Insurance Co. announced it has begun distributing about $1.5 million in workers' compensation dividends among approximately ...
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West

Bering Sea Superstorm Slamming West Alaska

The National Weather Service is reporting an event billed as "The Bering Sea Superstorm" is striking the coast of Alaska. The storm is ...

Beazley Selected by CalSurance as Information and Privacy Liability Insurer

Orange, Calif.-based CalSurance Associates, a division of Brown & Brown of California Inc. has named Beazley, an insurer of data ...

Liberty International Underwriters Expands E&S Property Operations to West Coast

Liberty International Underwriters (LIU), the global specialty lines division of Liberty Mutual Group, has opened an excess and surplus ...

EPIC in California Adds to Leadership Team with Gunnison

San Francisco, Calif.-based Edgewood Partners Insurance Center (EPIC), a retail property, casualty and employee benefits brokerage, has ...

ISU Adds ISU Cunnington & Associates

ISU International has added ISU Cunnington & Associates to the ISU Network. Founded in 2005 and owned by Greg Cunnington, ISU ...
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International

IMF Head Warns World Economy Risks a ‘Lost Decade’

The head of the International Monetary Fund warned on Wednesday that Europe's debt crisis risked plunging the global economy into a "lost ...

UK Court Rules Catholic Church Liable for Priest Wrongs

A British court has ruled that Roman Catholic priests are equivalent to employees, a decision that could pave the way for victims of sexual ...

Aon’s Study of Airline Insurance Industry Finds Divergent Trends

Aon Risk Solutions, the risk management business of Aon Corp., has released the latest edition of its aviation data report -"Airline ...

Validus’ Increased Offer for Transatlantic Presented Directly to Shareholders

The ongoing battle between Validus Holdings and Transatlantic is heating up again, as Validus announced a series of moves aimed at ...

EU Finance Ministers Reaffirm Climate Funding for Developing Countries

EU finance ministers on Tuesday signed off on more than €4 billion ($5.5 billion) in short-term funding to help developing countries ...

Swiss Re Places $130 Million Cat Bond for Hurricanes, European Wind

Swiss Re has obtained a further $130 million in protection through the Successor X Ltd. catastrophe bond program, which covers exposures to ...

Best Affirms Torus Insurance Holdings and Operating Subs Ratings

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

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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

Online Insurance and Leads
Posted: Wed Nov 9 -- I wanted to share with you a company that I use and have used since 2006. Not only are the leads I receive good leads but they are usually... Eagleeye
What websites or app are agents using?
Posted: Wed Nov 9 -- I use tons of tools and applications, most of them in marketing, sales and lead generation. I use a CRM which is basically a contact manager... sethm
Wholesale Distr to Oil & Gas contractors in AR
Posted: Tue Nov 8 -- Not having any luck placing this account, hoping others may be able to help. Wholesale distributor concentrating on the supplies used by oil... bboswell
"Pay As You Go" Work Comp
Posted: Tue Nov 8 -- Appreciate the conversation about pay-as-you-go. Just wanted to give you a perspective from the payroll industry side. We operate a... Steve Scheu
Direct mail
Posted: Tue Nov 8 -- Hi Rochambeau, can you explain it briefly about that site or tool that manipulates Google search engine rankings? Thanks chizcurlz
SEO and buying back links
Posted: Tue Nov 8 -- A quick tip: 50% of the Google search engine algorithm is based on links. chizcurlz
Android Applications/Insurance Related
Posted: Tue Nov 8 -- I saw this in a TV show. Some people developed android applications as well as iPhone apps for insurance agents, brokers, and adjusters as... chizcurlz
Grow your business with new clients
Posted: Tue Nov 8 -- Ranking for keywords that generate not only traffic but also conversion is a great success for an online business or website. It is really... chizcurlz
Social Media and its potential
Posted: Tue Nov 8 -- Now that Social Media plays a big part in search engine result pages, it indicates that businesses should use this to increase their... chizcurlz

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
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
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

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