Thursday, December 15, 2011

Daily Headlines: Thursday, December 15, 2011

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Insurance Journal Daily Headlines
December 15, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Scientists Urge New Approach to Offshore Drilling Safety

U.S. offshore oil and gas drillers need to take a more systematic approach to safety in all aspects of their operations to prevent another ...

Athletic Union Vows Changes to Child Safety Policy

The Amateur Athletic Union was set to announce changes Wednesday to its child safety policies after its former president became the target ...

Fitch Says Insurers’ Capital Position Is Strong, Issues Stable Outlook

Fitch Ratings said in its new 2012 outlook report that the P/C insurers' capital position remains strong. It observed that most P/C ...

Frank Crystal & Co. Establishes Art Finance Group

One of the country's largest independent insurance brokerage firms has launched an art finance group to reflect the recognition of fine ...

National Transportation Board Recommends Ban on Driver Cell Phone Use

States should ban all driver use of cell phones and other portable electronic devices, except in emergencies, the National Transportation ...

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

N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates

A new consumer advocacy report is accusing P/C insurers of 'colluding' and needlessly raising commercial insurance rates at a time when ...

New Jersey Doctors Arrested in Alleged Kickback Scheme

Federal authorities charged more than a dozen doctors Tuesday in an alleged kickback scheme, accusing them of receiving cash payments for ...

Conn.-based W.R. Berkley Promotes Rohde as Senior VP

W. R. Berkley promoted William Rohde as a senior vice president of the company. Previously he was president of Acadia Insurance Company, W. ...

XL Hires ACE Exec as N.Y.-based President of America Casualty Business

XL Group's North America property/casualty unit hired Ken Riegler as president of its North America casualty group. He will be based in New ...
Midwest

Michigan Workers’ Comp Changes Head to Governor

A bill that could help Michigan employers reduce costs related to compensating workers injured on the job is on the way to Gov. Rick Snyder ...

Crop Insurance Rates Skyrocket After Summer Floods

Midwestern farmers who saw their land swamped by summer flooding may be socked again with steep increases in their crop insurance premiums, ...

Rogers Joins Wichita Sales Team for IMA

Retail insurance brokerage IMA Inc. has added Mark Rogers in its Wichita, Kan., office as a business development executive. At IMA, Rogers ...

Preparedness Stressed on 200th Anniversary of the New Madrid Earthquakes

On the 200th anniversary of the first tremors of the New Madrid earthquakes, which were several of the most powerful quakes the United ...

Feds See Rise in Ohio Crash Deaths

Federal safety regulators say Ohio had one of the biggest increases in crash deaths last year and was one of 16 states that saw more ...
Southeast

More Safety Violations Cited at Mississippi Electrical Plant

Federal workplace safety officials said this week that they are again citing a Mississippi electrical and lighting maker for for unsafe ...

Florida Regulators Allow Bermuda Reinsurer to Operate with Reduced Capital

Florida has added one more name to the growing list of offshore reinsurers who can do business in the state under a new law allowing them ...

Keystone Acquires RSS Insurance of Chattanooga

Keystone Insurance Group has acquired the Chattanooga, Tenn.-based RSS Insurance, making it their 14th franchise partner in the state. ...
South Central

Texas Mutual Board Elects New Officers

Workers' compensation provider Texas Mutual Insurance Co. announced that its board of directors has elected two new officers — Linda ...

FEMA: Texas Wildfire Survivors Should Consider Flood Insurance

Flood protection might be the last concern of Texas wildfire survivors these days. Yet Texans — even those who live in areas not rated at ...

Texas School May Build Safety Wall After Shooting Injures Students

Dozens of law enforcement officers trudged through soggy brush near a South Texas middle school on Dec. 13 looking for casings and other ...
West

Montana Farmers Get Hail Insurance Refund

The state says that Montana farmers who bought hail insurance will be getting a 25 percent refund. The Montana Hail Board made the decision ...

SF Bay Area Chuck E. Cheese Restaurants Fined

Nine Chuck E. Cheese restaurants in the San Francisco Bay area have been fined a total of more than $28,000 for violating federal child ...

Santa Clara Approves Loan Deal For 49ers Stadium

The 49ers are a step closer to moving from San Francisco to Santa Clara after the Santa Clara City Council approved plans to develop and ...

Winter Storm Scatters Rain, Snow Across Arizona

A storm that scattered rain and snow across Arizona moved out of the state Wednesday, giving residents a brief break before the chance of ...
International

Swiss Re Estimates 2011 Economic Cat Loss at $350 Bn; Insured Loss $108 Bn

Swiss Re describes 2011 as the "year with the highest catastrophe-related economic losses in history, at $350 billion." It could have been ...

Best Downgrades Allianz and Subs Issuer Credit Ratings; Affirms FSR

A.M. Best Europe – Rating Services Limited has reacted to the ongoing sovereign debt crisis in the euro zone, which it describes as  ...

Best Downgrades Generali, Main Subs Ratings; Keeps on Review/Negative

As a result of the continued negative developments regarding the euro zone sovereign debt crisis, A.M. Best Europe – Rating Services ...

Liberty Mutual’s Guangdong Branch Opens for Business

The Liberty Mutual Group announced that its provincial branch in Guangzhou, Guangdong Province in China has "commenced operations and ...

Best Downgrades MAPFRE RE’s Ratings; Placed on Review/Negative

A.M. Best Europe – Rating Services Limited announced that "as a result of the continued negative developments regarding the euro zone ...

Best Places Ratings of Caisse Centrale de Reassurance on Review/Negative

A.M. Best Europe – Rating Services Limited has placed under review with negative implications the financial strength rating of 'A++' ...
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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

Best Insurance LinkedIn Group
Posted: Wed Dec 14 -- Fellow insurance workers, I would like to know what you consider the best two or three LinkedIn groups for insurance are. I have monitored... OldIndyAgent
Agency Management System
Posted: Wed Dec 14 -- What I get from this: Users can't get the support they need at the two largest agency management systems. So much so that independent... OldIndyAgent
Mercury Insurance Question (CA)
Posted: Wed Dec 14 -- Does comp, collusion and liability extend to rental cars on Mercury policies? JAM
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
Workers Comp for a GYM
Posted: Mon Dec 12 -- Hartford writes a few of these for me, give them a try. briand

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
$55K Settlement In Pepper Spraying Of California 7-Year-Old
Posted: Fri Dec 9 -- Well, you know how dangerous a seven-year-old can be when he's running wild with a dictionary in his hand! Big Mike In CA
NHL Says Brain Ailment Evidence Is Lacking
Posted: Fri Dec 9 -- NHL needs to take the lead here. No evidence? How about the 28 year old kid with the brain of an 85 year old alzheimer's patient? The only... MP
Do Actuarial Models Influence P/C Underwriting Cycle?
Posted: Fri Dec 9 -- Actuaries using models to drive the P&C cycle. It's another way for Sr Management to dodge responsibility for whipping their underwriters to... master u/w'er
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

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December 5, 2011

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