Tuesday, December 6, 2011

Daily Headlines: Tuesday, December 6, 2011

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Insurance Journal Daily Headlines
December 6, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

BP Accuses Halliburton of Destroying Gulf Spill Evidence

BP Plc accused Halliburton Co. of destroying evidence that the oilfield services company did inadequate cement work on the Gulf of Mexico ...

Healthcare Execs Facing ‘Responsible Corporate Officer’ Strict Liability

After decades in relative obscurity, a U.S. legal doctrine that holds corporate officers liable for company wrongdoing is finding its way ...

U.S. Power Grid Needs Cybersecurity Protection: MIT Report

The threat of cyberattacks on the U.S. power grid should be dealt with by a single federal agency, not the welter of groups now charged ...

Western Heritage Creates Garage Division

Western Heritage Insurance Company has introduced a garage division to help the company grow its garage offerings and partner with new ...

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

Ernst & Young Sued for $900M Over Madoff Audits

Ernst & Young LLP has been sued for $900 million by the liquidators of a fund that once funneled money to the now-imprisoned swindler ...

Hartford Financial to Sell Life Private Placement Unit for $117.5M

Hartford Financial Services Group is selling all assets of its Hartford Life Private Placement unit to Philadelphia Financial Group Inc. ...

Connecticut Probes Fraud in Post-Irene Food Aid Program

Scores of Connecticut residents, including some state workers, might have requested and received federal emergency money to replace spoiled ...

Marsh & McLennan Agency Hires Executive VP for N.Y., Conn. Region

Marsh & McLennan Agency, a subsidiary of insurance broker Marsh Inc. appointed John Sames as regional executive vice president of its New ...

William Gallagher Associates in Boston Announces Promotions

William Gallagher Associates, a broker and risk management services provider, promoted Paula Cabral, Karen Cangemi and Meredith McCabe to ...

Professional Insurance Women’s Group Announces Award in Connecticut

Kimberly Latka, a claims specialist at S.H. Smith & Company Inc. in Hartford, Conn., was recently honored with the Statewide Claim ...
A Unique Perspective on Construction, Occupancy, Protection & Exposure (COPE).
Midwest

Minnesota Workers' Comp Insurer Joins Big 'I' Trusted Choice Program

The Independent Insurance Agents & Brokers of America (IIABA or the Big "I") announced that Minnesota-based workers' compensation ...

Health Claim Denials Top Ohio Insurance Complaints

A newspaper's analysis shows the most common complaints received by the Ohio Department of Insurance come from people who had health claims ...

Insurance Company Liquidation Paying $4.1 Million to Ohio Consumers

Ohio Lt. Governor and Department of Insurance Director Mary Taylor announced the successful completion of The Physicians' Assurance Corp. ...
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Southeast

Floridians Would Pay More to Shore-Up Cat Fund: Survey

A new survey finds that 70 percent of Floridians fear being assessed hundreds or thousands of dollars in "hurricane taxes" because the ...

Drug Enforcer Anderson Named Florida's Insurance Fraud Investigator

Florida Chief Financial Officer Jeff Atwater has named Daniel Anderson to serve as the state's lead insurance fraud investigator. ...
South Central

Great American Insurance Acquires 2 Texas Workers’ Comp Firms

Great American Insurance Group, headquartered in Cincinnati, Ohio, announced it is acquiring Dallas, Texas-based Employers Comp Associates ...

TWFG Buys Heartland Marketing Group

The Woodlands Financial Group (TWFG) a large privately held insurance organization headquartered in The Woodlands, Texas, announced it has ...

Louisiana Insurance Fraud Fugitive Held

A former Baton Rouge, La., man who once faked his death to elude authorities must remain in custody until more hearings in his case. The ...
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West

Utah Prepares for Spring Flooding

After coming out of this year's spring flooding with damage limited mostly to Utah farmlands, state and county officials are beginning ...

More Strong Winds May Cause Damage In Southern California on Tuesday

The National Weather Service is issuing a continued strongwind advisory for Southern California though the afternoon on Tuesday, with winds ...

RiskPoint Insurance Advisors Launches in Oregon

RiskPoint Insurance Advisors LLC on Tuesday launched as a full service commercial insurance agency serving clients nationwide. ...

Contractor Scams Emerge Amid Utah Windstorm Damage

Utah state officials are warning of scams after getting reports of unlicensed contractors trying capitalize on damage from last week's wind ...

Parasite Found In Utah’s Strawberry Reservoir

The Utah Division of Wildlife Resources has discovered a potentially deadly parasite to fish in one of the state's most popular trout ...
International

Fleet of Ferraris Ruined in Japan Sportscar Pileup

An outing of luxury sportscar enthusiasts in Japan ended in an expensive freeway pileup -smashing a stunning eight Ferraris, a Lamborghini ...

Swiss Re sigma Report Highlights Progress in P/C Product Innovation

A new sigma report, "Product innovation in non-life insurance," from Swiss Re underscores the conclusion that there's "much more to ...

Panel Urges Legal Action in Damning Report on Japan’s Olympus

An independent panel urged legal action against executives who covered up a $1.7 billion accounting scandal at Japan's Olympus Corp, and ...

Swiss Re Estimates Thai Flood Claims at $600 million; Subject to Uncertainty

Swiss Re has estimated its claims costs from severe flooding in Thailand at $600 million, after intense rainfall caused hundreds of deaths ...

RSA Names Slingsby Global Program Director-Global Specialty Lines

RSA announced the appointment of Steve Slingsby as Global Program Director for Global Specialty Lines (GSL). He will work closely with the ...

Starr Sets up Global Casualty Practice

Starr Companies has formed a Global Casualty Insurance Practice to provide underwriting for Starr's general casualty insurance products. ...

Zurich Backs Global Trade Finance Program Expansion

Zurich's North American Credit and Political Risk group has joined eight other insurers to underwrite a trade credit policy that will ...

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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

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
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

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
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

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Program Directory, Vol. II - Volume Two of the Agent's Favorite Program Placement Resource
December 5, 2011

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