Wednesday, December 21, 2011

Daily Headlines: Wednesday, December 21, 2011

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Insurance Journal Daily Headlines
December 21, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Aon to Pay $16.2 Million to Settle Bribery Charges

Insurance brokerage firm Aon Corp. will pay $16.2 million to settle criminal and civil charges that it paid bribes to foreign government ...

Fed Proposes Rules to Restrain Wall Street Risk-Taking

The Federal Reserve proposed new rules on Tuesday to restrain risk-taking by the largest U.S. banks as it tries to make the financial ...

Report: Recent Advances in Casualty Catastrophe Models Help Insurers

A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The ...

State Insurance Regulators Name 28 Consumer Representatives

State insurance regulators have named 28 consumer representatives to advise them on insurance issues during 2012. The National Association ...

Study: Private Insurers Can Complement National Flood Insurance

There is a new study out that examines the U.S. flood insurance program. And it says that according to its calculations, there are some ...

From MyNewMarkets.com Nursing Claims Costs Rise Again After Falling: CNA Study

After a substantial dip in 2009, insurance claims in the nursing profession are costing more. The average total paid per claim is generally...
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East

Insurance Charity Foundation Raises $1.2M at This Year’s Charity Event

The Insurance Industry Charitable Foundation (IICF) New York/Northeast division had a packed charity dinner event this year. The event was ...

Group Criticizes ‘Judicial Hellholes’ Report, Calls It Propaganda

The American Tort Reform Association (ATRA) recently released its annual report on "judicial hellholes." It's a list of jurisdictions that ...

Pennsylvania Gets $420M in Disaster Aid, NFIP Settled $196M in Claims

The federal government has approved $420 million in disaster aid for Pennsylvanians hit by the one-two punch of Hurricane Irene and ...

N.Y. Court: AG Enforcement Doesn’t Pre-empt Private Securities Suits

Enforcement by the state attorney general against securities fraud doesn't pre-empt private common-law claims of negligence against ...

New York, Federal Office to Cooperate in Mortgage Probes

New York and federal officials will cooperate in investigations of banks bundling mortgages into troubled securities that helped cause the ...

D.C. Commissioner Recommends Reviewing Policies for Winter Activities

Washington, D.C.'s top insurance regulator is advising consumers to review their insurance policies and see whether they are covered for ...
Midwest

Michigan Governor Signs Unemployment, Workers’ Comp Legislation

Michigan employers are likely to save money on unemployment insurance and workers' compensation under changes signed into law on Dec. 19 by ...

York Risk Services Group Acquires Avizent

York Risk Services Group (York), a national provider of claims-management, specialized loss adjusting, insurance pool administration and ...

Dry Northern Plains Helps Spring Runoff Prep

Thanks to a dry fall across the northern Plains, the U.S. Army Corps of Engineers is months ahead of schedule in releasing water from ...
Southeast

For Florida Gov. Scott, Insurance Fixes Are Legislative Priority

Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of ...

Alabama Tornado Survivors Sought for Interviews

Public health agencies are looking to interview survivors of the killer tornadoes that hit north and central Alabama on April 27. State ...
South Central

Study: Reforms Impacted Growth in Texas Workers' Comp Claim Costs

The average cost of a workers' compensation claim in Texas grew 5 percent in 2009, reflecting the impact of recent medical fee schedule ...

EPA Reports Suggests Asbestos Exposure in Texas

An experimental asbestos demolition method used to tear down a Fort Worth, Texas, apartment building four years ago may have exposed ...

Louisiana Citizens Owes More than $100M to Policyholders, High Court Says

Louisiana's highest court has reinstated a nearly $100 million judgment against the state's property insurer of last resort in a class ...
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West

Arthur J. Gallagher Acquires Kahl Insurance of Colorado

Arthur J. Gallagher & Co. has acquired Kahl Insurance Services LLC in Englewood, Colo. Terms of the deal were not disclosed. Kahl ...

Report: Utah is Toughest State for Texting Drivers

Utah comes out on top of InsuarnceQuote.com's  list of the 10 toughest states for texting while driving. InsuranceQuotes.com reviewed ...

Montana Man Gets DUI Driving Wrong Way by Police Station

A Helena, Mont. man really picked the wrong place to drive the wrong direction with an open container of alcohol in his car. The ...

New Liquor Laws Leave Washington Craft Distillers In Limbo

Some craft distillers say they're struggling ever since Washington voters passed Initiative 1183 reforming how people buy and sell hard ...

Las Vegas ‘Santas’ To Help Crosswalk Safety Push

Pedestrian safety advocates and police in Las Vegas are enlisting a jolly old elf, and maybe a Christmas tree or two, in a drive to improve ...

Report: Fewer Traffic Deaths in Nevada In 2011

Despite a slight increase in pedestrian deaths, the Nevada Office of Traffic Safety says the number of people killed in traffic accidents ...

Utah Pollution Fighters Sue Kennecott Over Mining Dust

Clean air groups are making good on a promise to sue Kennecott Utah Copper over air pollution. The groups say Kennecott is kicking up too ...
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International

Insurers May Open ‘Black Box’ Telematics to Escape Gender Ban

Motor [auto] insurers seeking to get around a European ban on charging male drivers more than women are turning to innovative black box ...

Best’s Rating Actions Spurred by EU Failure to Produce Debt Crisis Solution

Although the recent summit of the 27 countries of the European Union did manage to come up with a plan to control budget deficits – in ...

Tokio Marine to Buy Delphi Financial for $2.7 Billion

Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan's ...

Beazley Confirms Interest in Acquiring Hardy Underwriting

In a brief statement, issued by its office in Dublin, Beazley plc confirmed that it is to undertake a strategic review of the business of ...

Best Affirms Beazley and Lloyd's Syndicates 2623, 623, 3623, 3622 Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength ratings of 'A' (Excellent) and issuer credit ratings (ICR) ...

Spieler to Join Catlin as Group Chief Administrative Officer

Catlin Group Limited announced that Adrian Spieler will join Catlin in February as Group chief administrative officer. He will become a ...
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Insurance Journal Blogs

Insurance Carrier to Offer Two New Policies for the Price of One

Did the title of this blog get your attention? I bet it did. Thankfully, it's not true. Ask yourself, how long could a legitimate ...

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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

AZ Home "Flipper" Insurance Coverage Needed
Posted: Wed Dec 21 -- I know your post is almost a month old but you should work with the folks at... threed
Are Insurance Agents Employees or Independent Contractors?
Posted: Wed Dec 21 -- Get a good accountant! If you treat each licensed producer as a separate business entity, transferring a % of commission into their account... OldIndyAgent
Facebook
Posted: Wed Dec 21 -- I like Facebook for personal uses, but am not a big fan of my clients being on my page....unless they find me. That's my personal life, and... LadyBroker
CertsNow 24/7 or CSR24
Posted: Tue Dec 20 -- Any one using or used either of these products? What is your experience? MT_Agent
Security training traveling to Saudi Arabia (life, health)
Posted: Tue Dec 20 -- You may want to check and see if some one like ACE ... beyert1
LBPS, Seterus, QBE, IBM-LBPS
Posted: Tue Dec 20 -- Wonder if any one else here has had severe issues with certificates of insurance demanded by any of the above entities which are the same... CIScommercial
Mercury Insurance Question (CA)
Posted: Mon Dec 19 -- It usually does with Mercury. But Mercury writes business under at least 3 different company names in California, and polices change from... bwjames
Agency Management System
Posted: Sat Dec 17 -- "Michael, As another independent consultant, I do want to point out that most of the vendors, and the two... pita3333

Reader Comments

N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates
Posted: Thu Dec 15 -- I don't suppose they would do a study on the harm lawyers do to the public and insurance rates for slip & fall & products lawsuits that have... Brian
SF Bay Area Chuck E. Cheese Restaurants Fined
Posted: Thu Dec 15 -- Yes, by all means we need to protect the chilren from operating a dough mixer! Nanny-state at it again. krenem
Elderly Michigan Woman Protests High Home Insurance Bill
Posted: Mon Dec 19 -- Bob, I think Assisted Living might be what this lady needs. But that has nothing to do with how poorly AO is treating her. Yes it is within... sandman
Risk Managers Find Santa Exposed, Urge $1 Billion Coverage Plan
Posted: Mon Dec 19 -- OK, this all gave me the holiday spirit. I'm taking the bear trap out of the fireplace. Anejo
U.S. Healthcare Law Keeps More Young Adults Insured
Posted: Fri Dec 16 -- Sorry for the succession of posts, I had a funny thought: Bob, perhaps you should solicit your coworkers not to add their children to their... ktb

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