Monday, December 19, 2011

Daily Headlines: Monday, December 19, 2011

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Insurance Journal Daily Headlines
December 19, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Risk Managers Find Santa Exposed, Urge $1 Billion Coverage Plan

Santa Claus will need a lot more than milk and cookies this Christmas—he'll need about $1.2 million to pay for insurance coverage. That ...

Deficit Poses the Biggest Threat to U.S. Healthcare

A mounting U.S. deficit could pose a much greater threat to the survival of President Barack Obama's healthcare reforms than either the ...

Moody's Corp. Acquires Barrie & Hibbert

Moody's Corp. has acquired Barrie & Hibbert Limited, a provider of risk management modeling tools for insurance companies worldwide. ...

Ratings Roundup: MAPFRE USA, AXA US,

A.M. Best Co. has downgraded the financial strength rating to 'A' (Excellent) from 'A+' (Superior) and issuer credit ratings to "a+" ...

OneBeacon Professional Insurance Expands Coverage for Lawyers

OneBeacon Professional Insurance (OBPI) has expand its professional liability coverage for lawyers to include network security and privacy ...

OPIC Offers New Political Risk Insurance

The Overseas Private Investment Corp. (OPIC) has arranged new political risk insurance for private equity fund investments in emerging ...

From MyNewMarkets.com Insurers Take Multiple Approaches for Multifamily Housing Market

The economy appears to showing some slight signs of improvement, which spells good news for insurers, especially those that insure some of...
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East

Pennsylvanians Face Sinkhole Threat, But Many Lack Insurance Coverage

A U.S. senator is enlisting the help of Pennsylvania insurance commissioner to help protect the Keystone State's homeowners from sinkhole ...

Rhode Island Police Step Up Patrols to Crack Down on Drunk Driving

The Rhode Island State Police are stepping up patrols through the end of the year to crack down on drivers who are under the influence of ...

New Hampshire Woman, Children Win $8.5M in Wrongful Death Lawsuit

A New Hampshire woman and her two children have won $8.5 million in a wrongful death lawsuit against a trucking company. A federal court ...

Louisa, Virginia, Quake Victims Advised to Appeal Aid Denials

Local and federal officials are telling Louisa County earthquake victims to not give up if they've been denied federal disaster assistance. ...
Midwest

Illinois Warns of Fraudulent Health Insurance

The chief executive of a company allegedly selling fraudulent health insurance says he is fully cooperating with the Illinois Department of ...

Elderly Michigan Woman Protests High Home Insurance Bill

An 83-year-old woman in Michigan says she won't suffer silently after an insurance company raised her bill from $585 to $4,092. Alice ...

Missouri Farm Bureau to Take over 3 Insolvent Insurers

The state insurance department says the Missouri Farm Bureau will take over the operation of three small insurance companies that became ...

Michigan Republicans to Continue Economic Focus

Republicans in firm control of the state Legislature say they're setting the stage for an economic turnaround in Michigan after passing ...
Southeast

2 North Carolina Counties Near U.S. Top in Pay Growth

Times may be tough, but new data show the average worker in six of North Carolina's largest counties got a pay raise greater than inflation ...

Florida’s Citizens Insurance Board Approves Proposals for Depopulating

The board overseeing the Citizens Property Insurance Corp. is moving ahead with a half dozen recommendations for the Legislature it ...
South Central

Oklahoma Insurance Commissioner Doak Has Had a Full Plate in 2011

In his first year as insurance commissioner of Oklahoma, John Doak has been a busy man. Doak and the agency he leads have had their hands ...

Allstate Rates for Texas Homeowners Could Go Up

Allstate Insurance has asked Texas regulators to allow the company to raise homeowner rates by nearly 10 percent for some customers. ...

TWFG Expands in Texas, California

The Woodlands Financial Group Inc. (TWFG), a retail and managing general agency headquartered in The Woodlands, Texas, announced new branch ...
West

Reno Air Race Officials Mull Options After Crash

A formal announcement will be made in January concerning the future of the National Championship Air Races after a Sept. 16 crash killed 11 ...

Denver Forms Committee To Explore 2022 Olympics

Denver is forming a committee that will look into making a bid for the 2022 Winter Games. The committee will present findings to Gov. John ...

Arizona Surgeons Win $12 Million In Web Defamation Case

Two Scottsdale, Ariz. doctors have been awarded $12 million from a former patient they accused of defaming them in online postings. The ...

US Government Accuses Oregon Aircraft Contractor Of Fraud

A Coos Bay, Ore. company and its owner accused of defrauding the U.S. government by supplying defective and counterfeit aircraft parts have ...

Anchorage Police Nab 148 Drivers Exceeding 100 Mph

Anchorage police enforcing traffic laws in the past year issued nearly 150 citations to drivers exceeding 100 mph. KTVA-TV reports officers ...

Utah Widow Sues Again Over Suicide In Artifacts Case

The widow of a Blanding, Utah doctor who killed himself after his June 2009 arrest in a Utah ancient artifacts trafficking case has filed ...

HMC Hospitals In Liliha, Ewa To Close

The operators of Hawaii Medical Center hospitals in Liliha and Ewa say they'll be closing the bankrupt facilities within three weeks, a ...

Nevada Caughlin Ranch Fire Claims Exceed $16 Million

Nevada's insurance carriers have reported they have received around 600 claims as a result of the Caughlin Ranch Fire resulting in more ...

Arizona Insurance Council Elects 2012 Officers

The Arizona Insurance Council (AIC) has elected new officers for 2012. AIC is a non-profit, trade association focused on consumer education ...
International

Flash Floods Kill More Than 530 in Philippines

As a storm that killed more than 530 in the southern Philippines raged outside the store where she works, Amor Limbago worriedly called ...

Russian Oil Rig Sinks; More than 50 Feared Dead

A drilling rig with 67 crew on board capsized and sank off Russia's far eastern island of Sakhalin on Sunday while being towed through a ...

Cat Assessment Firm PERILS Expands Coverage to Include UK Flood Risks

PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced that it has extended ...

Best Places MAPFRE PRAICO Group’s Ratings on Review/Negative

A.M. Best Co. has placed under review with negative implications the financial strength rating of 'A' (Excellent) and issuer credit ratings ...

Best Affirms Ratings of Inter Hannover UK; Outlook Positive

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

FastrackCE Offers New Program For Significant Co-Branding Possibilities

Chino, CA - The launch of a new Partner Program was announced today by FastrackCE, a leader in the insurance continuing education (CE) ...

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Insurance Journal TV

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Swiss Re Chief Economist Analyzes Current Market Conditions

Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces,...
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Interesting Times in Medical Liability

The medical liability market continues to perform well even as the nation struggles to...

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New Discussions in the Forums

Mercury Insurance Question (CA)
Posted: Mon Dec 19 -- We do not have mercury. I need the info for sales etc.. For example I know that non listed driver liability drops to state minimums in CA. I... JAM
Agency Management System
Posted: Sat Dec 17 -- "Michael, As another independent consultant, I do want to point out that most of the vendors, and the two... pita3333
Ex-Real Estate Marketer Seeks Career Change into Insurance
Posted: Fri Dec 16 -- Hey all - the original post was from January 2008! Mark if you're out there why not let us know what you decided to do? NYagent301
Security training traveling to Saudi Arabia (life, health)
Posted: Wed Dec 14 -- I have a security firm in Texas sending employees to Saudi Arabia for 6-8 weeks as instructors for a specific training contract. They want... tailor333
How do you ask for a referral?
Posted: Tue Dec 13 -- Based on my own experience, I usually got referrals when I contact clients to tell them their policy has been issued. They are usually... sethm
Commission or Contingency
Posted: Tue Dec 13 -- I agree with AgencyEquity. Contingencies are paid based on the volume of business placed with a particular insurance company. The fact that... sethm

Reader Comments

The Next Big Thing in Insurance Coverage Is Here
Posted: Tue Dec 13 -- Chartis (AIG) ...reputation risk..... think about it and it is kind of funny. jtownagent
N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates
Posted: Thu Dec 15 -- I don't suppose they would do a study on the harm lawyers do to the public and insurance rates for slip & fall & products lawsuits that have... Brian
SF Bay Area Chuck E. Cheese Restaurants Fined
Posted: Thu Dec 15 -- Yes, by all means we need to protect the chilren from operating a dough mixer! Nanny-state at it again. krenem
Canada Pulls Out of Kyoto Climate Change Protocol; First Country To Do So
Posted: Tue Dec 13 -- They didn't pull out because they think manmade global warming is a myth. They pulled out because China and India are not playng by the same... The Other Point of View
Progressive to Pay $125K Fine in Massachusetts‎
Posted: Tue Dec 13 -- I think they negotiated pretty well with the state. I would have thought it would be in the millions. Perhaps they thought they could skirt... Veteran Agent

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