Thursday, December 1, 2011

Daily Headlines: Thursday, December 1, 2011

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Insurance Journal Daily Headlines
December 1, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Most Health Insurers Meet Controversial Medical Loss Ratio

Most U.S. health insurers last year would have satisfied the much-disputed spending rules under President Barack Obama's healthcare reform, ...

Geithner Hits Attempts to Weaken Wall Street Reforms

U.S. Treasury Secretary Timothy Geithner said on Thursday that opponents of financial-sector reform were trying to sabotage efforts to ...

Can Claims Handling Cause an Errors & Omissions Claim?

The answer to the question posed in the headline is a definite "yes." This has actually developed into a significant issue for agents ...

How to Produce and Keep Happy Claimants

The best way to keep agency customers happy is to avoid claims in the first place but, of course, that's easier said than done. When ...

Genstart Completes Acquisition of Insurity from LexisNexis

Genstar Capital LLC has completed its previously announced acquisition of Insurity, the former LexisNexis Insurance Software Solutions ...

Aspen Enters Recreational Marine Market

Aspen U.S. Insurance has entered the recreational marine insurance market. Its products will be distributed through an exclusive agreement ...

Aon Introduces Tenant Rent Default Coverage

Aon has partnered with QBE Insurance Group to offer a product that will reimburse U.S. landlords for lost incomes when tenants default on ...

Sweeney Retires; McKay Named CEO of U.S. Aviation Underwriters

Michael Sweeney plans to retire as CEO of United States Aviation Underwriters (USAU) at the end of the year, parent company General Re ...

From MyNewMarkets.com Insurers Strive to Educate Cash-Strapped Schools on Coverage Options

With many public schools facing budget cuts and private schools experiencing a reduction in donations and enrollment, property/casualty...
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East

New York Lost 250,000 Middle- and High-Wage Jobs Since 2008: Report

New York State has been shedding hundreds of thousands of well-paying jobs since the financial crisis hit and its poverty rate remains ...

ACE Completes $107M Acquisition of Agribusiness Insurer Penn Millers

ACE Limited announced on Wednesday that it has completed its acquisition of Penn Millers Holding Corp. for approximately $107 million in ...

IIABNY Advises Motorists: Don't Skimp On Auto Liability Insurance

The Independent Insurance Agents & Brokers of New York is advising motor vehicle owners not to skimp when they buy auto liability ...
Midwest

Judge Allows Indiana State Fair Victims to Form Class

A federal judge certified all of the victims of the Indiana State Fair concert stage collapse into a single class Wednesday in a lawsuit ...

Ohio Man Without Medical License Sentenced for Treating Injured Workers

A Toledo, Ohio, man who treated injured workers without a medical license must repay the Ohio Bureau of Workers' Compensation (BWC) more ...

Jury Awards $27M in Damages Over Indiana Explosion

A jury has awarded $27 million in damages to a family over a propane explosion at a central Indiana horse farm that killed a man and ...
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Southeast

Florida’s Citizens Suggest Steps to Reduce Its Exposure

Florida's largest property insurer wants to roll back coverage on high-value homes and lower its coverage limits on homeowners' ...

Apollo of Florida Transfers Auto Book to Omni

A.M. Best Co. has withdrawn the financial strength rating of C++ (Marginal) and issuer credit rating of "b" of Apollo Casualty Co. of ...

Kentucky College, Former President Settle Claim Over Firing

A settlement has been reached in a lawsuit brought by a former community college president against the Kentucky Community and Technical ...

Appalachian Underwriters Receives New Endorsement in Georgia

Appalachian Underwriters, Inc. (AUI) will be the exclusively endorsed workers' compensation provider for the Independent Insurance Agents ...
South Central

Labor Department Accuses Cargill of Discrimination at Arkansas Plant

Labor officials have moved to cut off federal contracts held by one of the nation's largest meatpackers, saying it discriminated against ...

Confie Seguros Acquires Houston's Auto Insurance Discounters

Confie Seguros, a national provider of insurance with an emphasis on serving Hispanic consumers, has expanded its operations in Texas with ...

Dallas-based SIG Insurance Rebrands as CoVerica

Dallas-based insurance agency SIG Insurance Professionals has rebranded as CoVerica. The company said the rebranding reflects its ...
West

Attorney Says Man Innocent in Wal-Mart Incident, May Sue

The attorney for an Arizona man forcibly taken down by Buckeye police at a Wal-Mart says he plans to clear his client of the criminal ...

Thomas Becomes Partner in RSI

Bill Thomas has partnered with Ben Thomas and Barry Rabune of Costa Mesa, Calif.-based RSI Insurance Brokers to expand RSI Employers Source ...

Perry Named Atlas Audit Manager

Atlas General Insurance Services has named Robin Perry as audit manager. Perry will be responsible for developing a new premium audit ...

Wholesaler Adds Market for Nonstandard Auto in California

WIAA Insurance Services has added Unitrin Specialty to its roster of carriers. This provides the wholesale agency's subproducers a new ...

Arizona Gets $30 Million Grant for Health Exchange

Arizona is getting a $30 million federal grant to implement part of the federal health care overhaul.

$6M Awarded for West Coast Quake Early Warning Research

Scientists studying earthquake early warning in the United States have received a financial boost. A foundation this week awarded $6 ...

Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K

A bicyclist who was injured when he hit a patch of ice and crashed on a pedestrian/bike path in Florence, Mont. last winter has reached an ...
International

Russian Aviation Safety Facing Criticism After Hockey Team Crash

A prominent Russian lawyer said Wednesday he will challenge the powers of a regional aviation watchdog following a crash that killed an ...

India’s Insurance Regulator Issues IPO Guidelines

India's insurance regulator on Thursday notified guidelines for life insurers to raise capital via initial public offering (IPO) or ...

Allied World to Write Reinsurance in Malayasia

Allied World Assurance Co. Ltd said it will commence writing reinsurance business in Malaysia from its Labuan branch. The official ...
Insurance Journal Blogs

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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

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
Start up Agency Advice
Posted: Thu Dec 1 -- I currently own a driving school where I have about 10,000-15,000 students coming through per year and looking into the option of opening up... gregm21
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
Workers comp for janitorial services
Posted: Thu Dec 1 -- Try BTIS (builders and tradesmen) JAM
High Value Personal Auto
Posted: Thu Dec 1 -- Im looking for a carrier that can offer standalone Auto for Hight value/ exotic cars in excess of 150k in CA. Our standard carriers do not... JAM

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
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
Insurer Must Pay for Florida Rental Car Crash by Unauthorized Driver
Posted: Mon Nov 28 -- Sadly, insurance companies always seem to try their hardest to find no coverage or to limit coverage beyond what ordinary people would find... vince
Insurers Win First Round of Climate Change Coverage Litigation
Posted: Tue Nov 29 -- I look forward to the return of cases that actually matter. Since they've proven/ leaked more information that even the climate change... PM

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