Tuesday, December 27, 2011

Daily Headlines: Tuesday, December 27, 2011

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Insurance Journal Daily Headlines
December 27, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011

Private U.S. property/casualty insurers' net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in ...

Allstate Revises Agent Compensation Plan

Allstate's captive agents have been spared part of a planned cut in their commissions as the insurer has revised its compensation ...

Obama Administration Decides Against Lowering Trucker Daily Hours

The Obama administration decided against a cut in truckers' daily hours behind the wheel, to the dismay of safety advocates, but made other ...

Federal Flood Insurance Reauthorized Until May 2012

The federal flood insurance program has been extended until May 31, 2012 under another short-term consolidated appropriations bill (H.R. ...

Ex-NFL Players Sue League Over Brain Injuries

Jamal Lewis, Dorsey Levens and two other former National Football League players have sued the league over brain injuries that they say ...

U.S. Airlines and Lost Luggage Liability

With so many people flying over the holidays, there's a good chance some of these travelers will end up at their final destination without ...

Esurance Debuts First Ad Campaign Since Being Bought by Allstate

Esurance, the onlinel car insurance company now owned by Allstate, has launched a new ad campaign around the concept, "Insurance for the ...

From MyNewMarkets.com As User-Based Insurance Takes Off, Towers Watson Steers It Globally

When Towers Watson expanded its user-based insurance (UBI) DriveAbility program beyond the United States last month, it wasn't just based on...
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East

Travelers Indemnity Says $1M Policy Won’t Cover Penn. Turnpike Mess

The insurer of a trucking company whose tanker leaked sticky black goo onto the Pennsylvania Turnpike in November says in court filings ...

New York Judge: Iran, Taliban, al-Qaida Liable for 9/11

A federal judge has signed a default judgment finding Iran, the Taliban and al-Qaida liable in the Sept. 11, 2001 terrorist attacks. Judge ...

Insurer for Sandusky Charity in Pennsylvania Argues Over Payouts

An insurance company for a charity founded by Jerry Sandusky argued in a federal complaint last Friday that it should not have to pay legal ...

AIG CEO Benmosche Wants to Extend His Stay: Report

American International Group's CEO Robert Benmosche recently told the board directors that he wants to stay in his job longer than ...

Pennsylvania’s Rhyming Justice Pens Insurance Fraud Opinion

This judge's rulings, for better or worse, are poetic justice because they're in verse. A state Supreme Court justice known for opinions ...

$1.6M Award for Connecticut Man Injured in Icy Road Accident

A jury has awarded $1.6 million to a Thomaston, Connecticut, man who sued the state Department of Transportation over injuries he suffered ...

BNY Mellon Settles N.Y. Probe Involving Insurer’s Debt Security Sale

The Bank of New York Mellon Corp. will pay $1.3 million to three states to settle an investigation into manipulative trading of auction ...
Midwest

Privacy Claims Against Iowa Insurance Agent Over Hidden Cameras Proceed

A video camera hidden in a workplace bathroom doesn't have to produce any images for someone to believe their privacy was violated, the ...

Minnesota Supreme Court to Hear University’s Appeal of $1M Award

The Minnesota Supreme Court has agreed to hear the University of Minnesota's appeal of a $1 million civil verdict against the school and ...
Southeast

South Carolina State Worker Seeks Free Speech Damages Over Firing

A former South Carolina state employee has filed a federal lawsuit over his termination earlier this year after a diversity training ...

Claims Against Fort Lauderdale Police Top $1 Million

Records show that more than a $1 million has been paid out since 2005 in claims against a South Florida police department. The city of Fort ...

Mississippi Court Overturns Insurer’s Win in Katrina Wind vs. Water Case

The Mississippi Supreme Court has overturned a judgment for an insurance company in a wind vs. water case involving a Pascagoula home hit ...
South Central

New Orleans Hurricane Wall Creates Prime Fishing Spot

Anglers in the wetlands surrounding New Orleans never have to look very far to be reminded they are living the ultimate paradox: They are ...

Central Oklahoma Homes ‘Quaked’ a Bit on Christmas Day

Some Oklahoma residents may have felt their homes shake on Christmas Day, but it wasn't because reindeer had landed on the roof. The U.S. ...

Genstar Capital Acquires Innovative Aftermarket Systems of Texas

San Francisco-based private equity firm Genstar Capital, LLC said it has acquired Innovative Aftermarket Systems, which underwrites and ...
West

Alaska Law Meant To Ban Texting While Driving Challenged

Alaska's intended ban on texting while driving is facing a legal challenge, with a magistrate in Kenai saying the Legislature should have ...

Former Idaho Police Officer Awarded $717,000

A former Idaho officer with the Fort Hall Police Department injured when his patrol vehicle was hit by another vehicle has been awarded ...

Idaho Economic Developers Want Employer Incentive Fund

State lawmakers need to create a $5- to $10-million fund that could be used to entice high-paying employers to the state by rewarding them ...

Utah Lawmaker Wants Out Of Daylight Saving Program

One Utah lawmaker wants to pull the plug on daylight saving time. The Deseret News of Salt Lake City reports Republican Rep. Jim Nielson of ...

Washington City’s New Underage-Drinking Law Targets Parents

Starting next month, Mercer Island parents will be held responsible for underage drinking at their homes even if they are out of town and ...
International

Financial, Legal Woes Dogged Breast Implant Company

Signs of legal problems and financial losses surrounding the French breast implant manufacturer at the heart of a scandal affecting ...

Everest Re Estimates Thai Flood Losses at $100 to $125 Million

The Bermuda-based Everest Re Group announced that it expects to incur net losses of between $100 million and $125 million, after ...

Best Affirms Wind River Re, U.S. Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Bermuda-based ...

Best Affirms Ratings of Sompo Japan and U.S. Subs; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit rating (ICR) of "aa-" of Sompo ...

Best Affirms NIPPONKOA’s ‘A’ Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a+" of Japan's NIPPONKOA ...

Ratings Recap: Evergreen Re, Asian Re, Toa Re, Meritz

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of Bermuda-based Evergreen ...
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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

Those who get an Insurance Education have a competitive edge
Posted: Tue Dec 27 -- My experience with insurance producers is that a pretty good percentage believe that continuing education training is a nuisance and see no... itaamerica
My CPCU journey - almost finished.....
Posted: Tue Dec 27 -- Hello Everyone, I posted a few times several months back looking for advice/opinions regarding the CPCU program from the Institutes. I... bjwestner
Best Insurance LinkedIn Group
Posted: Tue Dec 27 -- I recently joined this group. It's among the most popular LinkedIn Group of Insurance Industry Professionals -... sethm
Facebook
Posted: Tue Dec 27 -- I've been using Facebook PPC for quite some now, and it has brought leads and conversions. It may be a bit costly, but what I like most... sethm
Adding Addtional Insureds
Posted: Mon Dec 26 -- Shouldn't the AI requestor contact the primary and request the primary to add them? Seems like your adding work for yourselves, when the... OldIndyAgent
Fireworks Wholesaler/Retailer
Posted: Thu Dec 22 -- I am looking for markets for a large fireworks wholesaler/retailer. Need help on GL, XS & AL Thanks E&S Broker
Loss Payment on a BOP
Posted: Thu Dec 22 -- Without pulling out a policy I would have to think the denominator would be 80%of the replacement cost. I would need to confirm the... yoyowordup
CertsNow 24/7 or CSR24
Posted: Thu Dec 22 -- I know these guys continually market us, and one of our principals (not me) seems interested, but I agree with the other comments. The cert... Island Girl Agent
LBPS, Seterus, QBE, IBM-LBPS
Posted: Thu Dec 22 -- While I have not had this problem with them for any commercial policies, I do constantly have issues with them on personal lines policies. I... Brenda H

Reader Comments

Maurice 'Hank' Greenberg Wins Leadership Award From Yale University
Posted: Tue Dec 20 -- No kidding - I guess lifetime leadership only means building an empire, not sustaining it long term? Becky
10,000 Gallons Of Sewage Spills Into Central California Creek, Ocean
Posted: Tue Dec 20 -- Why, oh why, aren't there measures in place to prevent this type of incident? It's not like power outages are rare or unheard of... Dee
Supreme Court Schedules Obama Healthcare Arguments
Posted: Tue Dec 20 -- Perhaps we will have a Political Solution if the court punts. We will be looking forward to 1-20-13 for that to happen. The first order of... Amazed
Former South Carolina Governor's Brother Denies Liability for Pool Drowning
Posted: Tue Dec 20 -- Why send your child to a pool party when he doesn't know how to swim? What if it had been a hang gliding party? And the list goes on... GETREAL
Get Ready to 'Face' the Next Wave in Marketing: Mavatars
Posted: Tue Dec 20 -- The article did not mention driver license but the DOT people told me, when I renewed my license, that the new photos are set up for... bob

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