Thursday, December 8, 2011

Daily Headlines: Thursday, December 8, 2011

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Insurance Journal Daily Headlines
December 8, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Despite Consensus, Politics Stymies Federal Flood Reform

In this era of sharp political differences, the need for a national flood insurance program is one area where just about everyone agrees. ...

Washington Gridlock Continues Over Consumer Financial Protection Agency

The answer to the Final Jeopardy! question of who will be the first director of the Consumer Financial Protection Bureau will not become ...

Lloyd’s Study Finds U.S. Businesses Concerned with Talent, Skills Shortage

U.S. business leaders are as concerned as their European counterparts over a talent and skills shortage, despite record unemployment levels ...

70 Million Drivers Missing Out on Car Insurance Savings: Insurer

More than 70 million drivers in the U.S. potentially are leaving car insurance savings on the table by not taking advantage of usage-based ...

Zurich Names Dailey to Executive Committee; Farmers Group CEO

Zurich Financial Services Group announced that Jeff Dailey (54, U.S. citizen) has been appointed as a member of the Group Executive ...

American Safety Enhances Contractors Pollution Liability Package

American Safety Insurance has upgraded its contractors pollution liability package for artisan, trade and general contractors with new ...

Senate Approves Flood Insurance Extension to May 2012

The U.S. Senate passed an extension of the National Flood Insurance Program (NFIP) through May 31, 2012. The legislation, introduced by ...

Terrorism Risk Still a Concern in Insurer Ratings: S&P

Standard & Poor's Ratings Services said it continues to view terrorism risk as a critical component in its assessment of an insurer's ...

FEMA Supports Allowing Disaster Aid Requests by Tribal Governments

The Federal Emergency Management Agency (FEMA) is supporting amending federal law to allow tribal governments to make disaster declaration ...

Want to Reduce Cyber Risk? Avoid These 25 Worst Passwords of 2011

One way to help lower personal and business cyber risk is to avoid using easy-to-crack passwords. SplashData, a password management ...

Crump Adds Personal Guarantee Insurance

Crump Insurance Services has launched personal guarantee insurance for business owners putting up their own personal assets against ...

From MyNewMarkets.com Data Breaches in Healthcare Industry Lead to New Coverages

Insurance carriers are seizing opportunities in the healthcare industry, where huge data security breaches appear to be happening on a...
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East

Deadline Nears for Fed Aid for New York Flood Victims

The Federal Emergency Management Agency says there are only eight days left for New Yorkers affected by Hurricane Irene and Tropical Storm ...

Philadelphia Jury Awards Three Women $72M Over Prempro Therapy Drug

A Philadelphia jury has awarded three women $72.6 million in compensatory damages over their use of the hormone therapy drug Prempro and ...

Nearly 24 Conn. State Workers Accused of Post-Irene Food Aid Fraud

Connecticut Gov. Dannel P. Malloy's top lawyer says the state has evidence that nearly two dozen state workers fraudulently applied for ...

Risk Strategies Company in Boston Acquires Global Insurance Network

Risk Strategies Company, a brokerage and risk management firm headquartered in Boston, acquired Global Insurance Network, an independent ...
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Midwest

3 Small Insurers Placed into Receivership in Missouri

A Barton County, Mo., judge has placed a group of three small insurance companies into receivership, after claims from the Joplin tornado ...

Missouri Levee Owners to Get Repair Help from Feds

A northwest Missouri levee that was dropped from a federal repair program shortly before record flooding caused $4 million in damage has ...

Baxter to Lead Hylant Group's Health Risk Management Unit

Ohio-based Hylant Group has tapped wellness professional Jerid Baxter to lead its growing health and wellness practice. Baxter will be ...
Southeast

Florida Gov. Scott Questions Citizens Insuring High-Risk Construction

Gov. Rick Scott said he is concerned about Florida's state-backed property insurer providing discounted coverage on new construction ...

Alabama Businesses Working on Workplace Safety

It's not uncommon for Troy Collett to feel like he's playing a game of dodge cars when he's making a delivery in downtown Florence, ...

North Carolina’s Strickland Acquires Carolina Insurance Services

Strickland Insurance Brokers said it has acquired Carolina Insurance Service Inc. Carolina Insurance is a managing general agent that ...
South Central

Insured Losses from Bastrop, Texas, Wildfire Rise to $325M

More than half of the homeowner insurance claims have been settled in the Bastrop (Texas) Complex Wildfire that occurred over the Labor Day ...

Haigood to Chair Board of Southwestern Insurance Information Service

Southwestern Insurance Information Service has elected Lyndell Haigood, regional vice president of State Auto Insurance as chairman of the ...
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West

Idaho Homeowners Association Treasurer Charged With Embezzling

The former treasurer of a Meridian, Idaho homeowners association is charged with embezzling more than $20,000 from the organization since ...

Health Report Ranks Nevada 42nd Among States

A study finds that Nevada climbed five spots, to 42nd, in an annual ranking comparing states, residents and health. The 2011 America's ...

'MythBusters' Cannonball Rips Through House, Van

A stunt for the TV show "MythBusters" sent an errant cannonball through a California family's house and into a parked minivan a few ...
International

Munich Re Estimates Thai Flood Claims around $670 Million

The widespread floods in Thailand, which reached their highest point in October and November, "are the costliest natural catastrophe in the ...

Aon Benfield Report Analyzes Financial Impact of Catastrophes on Reinsurers

The Aon Benfield Analytics' Market Analysis team has published the latest edition of its Aon Benfield Aggregate (ABA) report, which ...

Willis Re Spots Downward Trend UK Auto Claims; Premium Increases

UK motor [auto] insurance premiums "have continued to rise in 2011, with some drivers facing price increases of up to 50 percent," ...

AXA, Generali Said to Advance in HSBC General Insurance Sale

AXA SA and Assicurazioni Generali SpA are among bidders shortlisted for HSBC Holdings Plc's planned sale of its general insurance business, ...
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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

How do you ask for a referral?
Posted: Wed Dec 7 -- Most people like to help others. Be upfront, and honest. Say, "I try to provide the best service I can for my clients. Do you know anyone... erieagent
Lessor's Risk on a BOP
Posted: Wed Dec 7 -- My boss and I have a disagreement regarding a Lessor's Risk. Our Insured owns several properties under different entities, one of the... srksrk
High Value Personal Auto
Posted: Mon Dec 5 -- Chubb does write monoline auto. Their rates are high on regular vehicles but for high value vehicles, they are good. debbie
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
Super Newbie
Posted: Thu Dec 1 -- Develop 2-3 niches as quickly as you can so that you can be seen as the insurance expert in those industries. Ideally, the niche is a... FactsofLife

Reader Comments

Iowa Man Won't Get $10.6M Malpractice Award
Posted: Mon Dec 5 -- haha...holy crap. if you need more evidence that our judicial system is broken, please read that article again. #1, guy gets insane... George
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
Attorney Says Man Innocent in Wal-Mart Incident, May Sue
Posted: Fri Dec 2 -- It isn't shoplifting unless you leave the store with it. I've seen little old ladies use their purses to carry things around to free up... DD72
Montana Bicyclist Falls on Icy Trail, Gets Nearly $100K
Posted: Thu Dec 1 -- This kind of verdict is indicative of how lost our legal system can be. Where is the personal responsibility?? Double DUH!! Also Amazed
Sen. Schumer Says Flood Insurers Are Too Slow in Processing Claims
Posted: Mon Dec 5 -- What does Schumer know about processing flood claims? Maybe if he and Harry weren't playing "kick the can" and hide-'n'seek with... MarketMaker

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December 5, 2011

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