Monday, December 5, 2011

Daily Headlines: Monday, December 5, 2011

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Insurance Journal Daily Headlines
December 5, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

2011 Hurricane Season Spared Usual Targets While Flooding Northeast

The 2011 Atlantic hurricane season was a study in contradictions: It spared the usual Southern targets, while Irene paralyzed the Eastern ...

U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion

Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly ...

Senate Asked to Renew Flood Program Until Sept. 2012

U.S. Sen. David Vitter, R-La., has sent a letter to Senate Majority Leader Harry Reid urging him to allow a one-year extension of the ...

Lawmakers Block Safety Rules for Lithium Battery Shipments

Lawmakers responded to pleas from industry and foreign governments on Friday with a tentative agreement to block the Obama administration ...

Chubb Adds New Coverages to Private Company Program

The Chubb Group of Insurance Companies has added protection for cyber breaches and other crimes to its ForeFront Portfolio 3.0 program for ...

ProHost Adds Employment Practices Coverage for Restaurants

ProHost has started offering employment practices liability insurance for restaurants, including wage and hour defense coverage. The ...

From MyNewMarkets.com How to Prepare for the Changing Market

In today's personal property/casualty insurance market, agents and brokers face increasing uncertainty. Staying the course is no longer an...
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East

Sen. Schumer Says Flood Insurers Are Too Slow in Processing Claims

U.S. Senator Charles Schumer (D-N.Y.) is calling on flood insurance companies to speed up their processing of insurance claims from ...

Pennsylvania Receives $349 Million in Disaster Aid So Far

Officials with the Federal Emergency Management Agency say nearly $349 million in disaster aid has been approved so far for Pennsylvania ...

Rate of Virginia Workplace Injuries Up in 2010

The rate of workplace injuries increased in 2010 in Virginia, but still remains below the national rate. The Virginian-Pilot of Norfolk ...

Massachusetts Utility Regulators Probe October Storm Response

Massachusetts regulators are preparing to hold public hearings in Springfield and East Longmeadow as they investigate how utility companies ...

Massachusetts Sues Banks Over Foreclosures

Massachusetts sued five major banks Thursday over deceptive foreclosure practices such as the "robo-signing" of documents, potentially ...

AXIS Capital Hires North American Professional Lines Chief in N.J.

AXIS Capital Holdings' insurance segment appointed John Van Decker as Berkeley Heights, N.J.-based executive vice president and head of ...
Midwest

Third of Illinois Workers' Comp Awards in 12 Facilities

Workers filing on-the-job injury claims at just a dozen state institutions clustered in southern Illinois collected nearly one-third of the ...

AIPSO Central Region Closing East Wacker Drive Office in Chicago

AIPSO, a management organization and service provider for various insurance industry groups responsible for administering the residual ...

Iowa Man Won’t Get $10.6M Malpractice Award

An Iowa man who had been awarded $10.6 million in malpractice case won't see any of that money. The Des Moines Register reports that court ...
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Southeast

North Carolina Investigates Deadly Cotton Gin Accident

North Carolina workplace safety investigators are looking into what killed a worker at a Jones County cotton gin. The Kinston Free Press ...

West Virginia Man Admits Staging Crashes In Insurance Scam

A Buckhannon, West Virginia man has pleaded guilty to defrauding insurance companies by staging vehicle accidents and filing fake claims. ...
South Central

Louisiana Commissioner Urges Policyholders to Claim Citizens Rebate

Louisiana Insurance Commissioner Jim Donelon and Department of Revenue Deputy Assistant Secretary Gary Matherne are urging those who have ...

Haigood to Head Texas Fire and Casualty Insurer Association

Lyndell Haigood, regional vice president of State Auto Insurance Co., has been elected president of the Association of Fire and Casualty ...

Flood Insurance Rate Falls for Some in Louisiana

Some residents and business owners in the city of Lafayette, La., and unincorporated parts of the parish will soon be paying 10 percent ...

White House Denies Earthquake Aid for Oklahoma

The White House has denied a request from the state of Oklahoma for individual assistance for those affected by a series of earthquakes in ...
West

Federal Agency to Hold Hearing on Air Shows, Races

A federal hearing will examine the safety of air races and air shows after a horrific crash killed 11 people and injured more than 70 at an ...

San Francisco Fire Department Cited for Safety Violations in Fatal Fire

The San Francisco Fire Department has been cited by state investigators for "serious'' worker safety violations in the deaths of two ...
International

Torus Acquires Renewals of CV Starr for Continental Europe; Interview with Int’l. CEO Dermot O’Donohoe

Torus announced that it has entered into an agreement with Starr Underwriting Agents Limited whereby Torus Syndicate 2243 acquires the ...

Aon Benfield Reports China Reinsurance Premiums up 70% since 2005

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has launched its China Property & Casualty ...

Bank of India to Buy 51% of Bharti AXA Asset Manager

State-run Bank of India said late on Saturday it would buy 51 percent of Indian asset manager Bharti AXA Investment Managers Pvt Ltd from ...

DUAL Corporate Risks Adds More D&O Capacity from Aspen, Pembroke

London-based specialist underwriting agency DUAL Corporate Risks announced that it has entered into a strategic partnership with Aspen ...

Willis Strengthens So. Africa Role with Pickering Appointment

Willis Group Holdings announced the appointment of Scott Pickering, President, Willis Asia Pacific, Middle East and Africa, as CEO of ...

Sciemus Appoints Former Aon Exec Mahoney as Chairman

London-based Sciemus, an analytics and modeling company that services the insurance and financial markets, announced the appointment of ...

Parker Named to Head P/C Specialty at Aon’s Global Brokerage Center

Aon Risk Solutions, the risk management business of Aon Corp, announced the appointment of Mark R. Parker to the position of Director in ...

Best Affirms Ratings of Aioi Nissay Dowa Insurance (China)

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Aioi Nissay Dowa ...
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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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Pat Ryan Asks, 'Are You Happy?'

Patrick Ryan is an innovator who sees opportunity. And it was opportunity that drove him to...

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New Discussions in the Forums

High Value Personal Auto
Posted: Sat Dec 3 -- As far as Hagerty goes I was under the impression that they did classics only. As fo Chubb you are saying that they did mono line auto? JAM
Start up Agency Advice
Posted: Fri Dec 2 -- What state are you in? Also, I would think that you would be better off partnering with an existing agency who has the appointments that you... justthere
Batch Clause undre Products Liability
Posted: Fri Dec 2 -- Submit the claim to both insurance carriers and let them figure it out. That's their job. Big Dog
QuickBooks
Posted: Thu Dec 1 -- I have used QB online for 12+ years for agency bill, direct bill, payroll, CC acceptance etc. The ease of use, accessible from anywhere via... mhutch69
How do you ask for a referral?
Posted: Thu Dec 1 -- I read an article recently that posed the question 'Are you a referral wimp?'. It went on to list the common excuses for not asking for a... FactsofLife

Reader Comments

U.S. Rep. Barney Frank of Massachusetts Won't Seek Re-election
Posted: Mon Nov 28 -- THANK GOD! Bwarney Fwank was half to blame for the housing collapse and Freddie and Fannie Mae's boon doggle for all tax payers. Good... Sarah
Massachusetts Enacts Law on Credit Ban for Auto Insurance
Posted: Tue Nov 29 -- "much-needed protection against an unfair, unreliable, and discriminatory rate-setting practice" Unpopular, yes, but the correlation exists... GL Guru
Geithner Hits Attempts to Weaken Wall Street Reforms
Posted: Thu Dec 1 -- Geithner has ZERO credibility since He was appointed. Anyone that overlooks paying $35,000 in taxes has no business being involved in... Steve Shults
Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K
Posted: Wed Nov 30 -- "John Cornish told the Ravalli Republic for a story published Monday that people should know riding a bike at night in winter is a little... Always Amazed
Insurance Groups React to Rep. Barney Frank's Retirement Announcement
Posted: Wed Nov 30 -- What a surprise, that the insurance lobbyists praise Frank one of the most incompetent regulators of all time. Frank allowed the financial... Systemic risk

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December 5, 2011

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