Wednesday, January 4, 2012

Daily Headlines: Wednesday, January 4, 2012

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Insurance Journal Daily Headlines
January 4, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Ruling Boosts Bond Insurer MBIA’s Fraud Suit Against BofA’s Countrywide

A New York state judge made it easier for the bond insurer MBIA Inc. to pursue its $1.4 billion lawsuit accusing Bank of America Corp.'s ...

Drunk Driver Test? There’s an App for That

A drunken driving test may not seem the likeliest place to come up with a mobile phone app, but that's when inspiration struck Nashville, ...

On-Duty Firefighter Fatalities Decreased in 2011

There were 81 on-duty firefighter fatalities in the United States as a result of incidents that occurred in 2011, a decrease from the 87 ...

John Hancock Financial Joins Travel Insurance Marketplace

John Hancock Financial has entered the travel insurance marketplace. The company's product will be distributed by John Hancock Insurance ...

Willis Rebrands Executive Risks as FINEX North America

Willis North America is rebranding its Executive Risks Practice as FINEX North America, which mirrors the name of its global management ...

Obama to Name Cordray Consumer Bureau Head in Recess Appointment

President Barack Obama plans to use a recess appointment to install Richard Cordray as head of the country's new consumer financial ...

Allstate Offers Claim Satisfaction Guarantee

Allstate has decided to expand a claims guarantee to their auto insurance customers that will provide a credit to their auto policies if ...
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East

Arthur J. Gallagher Acquires Capital Bauer Insurance in Albany, N.Y.

Ithaca, Ill.-headquartered insurance brokerage giant Arthur J. Gallagher & Co. acquired Capital Bauer Insurance Agency in Albany, N.Y. The ...

Penn.-based Glatfelter Acquires Faith-Based and Senior Living Programs

Glatfelter Program Managers, a program business division of Glatfelter Insurance Group in York, Penn., acquired senior living and religious ...

N.Y.-based Sterling & Sterling Appoints Insurance Brokerage President

Woodbury, N.Y.-based Sterling & Sterling appointed industry veteran Leslie Nylund as president of the insurance brokerage. Nylund will be ...

Maine-based Workers’ Comp Insurer MEMIC Group Announces Promotion

The MEMIC Group, a workers' compensation insurer headquartered in Portland, Maine, promoted Jeff Funk to the position of assistant vice ...

Jay-Z Cleared of N.Y. Workers’ Comp Board Charge

Jay-Z may have 99 problems, but missing workers' comp insurance payments isn't one of them. The judgement against the rapper and the ...
Midwest

Football Players Sue Chicago Law Firm

Kansas City Chiefs quarterback Kyle Orton and some 20 other NFL players are suing a Chicago law firm for more than $10 million, claiming ...

United Heartland Names Zacj Regional Director in Chicago Office

Wisconsin-based United Heartland has appointed Steve Zacj as regional director for the company's Chicago office. Zacj recently joined ...

Austin Mutual Names Kirkendall Commercial Lines Underwriting Director

Minnesota-based Austin Mutual Insurance Co. has promoted Kody Kirkendall to director of commercial lines underwriting. Kirkendall will ...
Southeast

Mississippi High Court to Hear Appeal Over $15M Award for Asbestos

Conoco Phillips Corp. has appealed a $15.2 million jury award to an oil and well drilling worker who claimed have gotten lung disease from ...

South Carolina Considers Mandating Motorcycle Helmets for All Riders

State lawmakers in South Carolina are considering modifying a 30-year old law so that all motorcycle riders in the state must wear helmets. ...

Traffic Deaths Continue to Decline in Florida

State officials say the number of traffic deaths in Florida has continued to drop. The Department of Highway Safety and Motor Vehicles ...
South Central

Leal, Pekar Join Texas-Based TDECU Insurance Agency

Vickie Leal and Kathleen Pekar have joined TDECU Insurance Agency LLC in Lake Jackson, Texas, as the agency's newest licensed agents. ...

New Orleans Settles Claims Police Ignored Threats

The city of New Orleans has agreed to pay $25,000 to settle a federal lawsuit that accused police of ignoring a woman's complaint that ...

Peel Joins Swantner & Gordon Insurance Agency in Houston

Swantner & Gordon Insurance Agency has added Thomas Peel in the marketing department of the firm's Houston office. As a marketing ...
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West

Honda Owner Bypasses Class Action in California, Hopes Others Follow

A woman who expected her 2006 Honda Civic Hybrid to be her dream car wants Honda to pay for not delivering the high mileage it promised. ...

San Bernardino County Settles Motorcycle Claim for $3 Million

San Bernardino County has agreed to pay $3 million to settle a lawsuit that blamed dangerous road conditions for a motorcycle crash that ...

Safeco Names Mitchell Regional General Manager For California

Safeco Insurance named Diane Mitchell as the company's new regional general manager for California. The change was effective Jan. 2. ...

Nautilus Promotes Hall to VP Marketing, Williams to VP Underwriting-Mountain Region

Arizona-based national insurer Nautilus Insurance Group announced two promotions. Raymond J. Hall has been promoted to vice president of ...
International

AXA, Japan Post Top Best’s List of World's Largest Insurers

France's AXA S.A. has again topped the list of the world's 25 largest insurance companies, based on premiums written, compiled by A.M. ...

Ecuador Court Upholds $18 Billion Judgment against Chevron

An Ecuadorean appeals court on Tuesday upheld a ruling that Chevron Corp should pay $18 billion in damages to plaintiffs who accused the ...

Earthquakes Prompt Record Insurance Claims in 2011

Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in ...

Catlin Forms Partnership with Crisis Management Consulting Firms

Catlin Group Limited has formed a partnership with two specialist risk management consulting firms, which, it said, would "enhance the ...

IAG Finalizes $4.86 Billion Reinsurance Program for 2012

Insurance Australia Group Limited announced that it has finalized its catastrophe reinsurance program for the period commencing January 1, ...

Lloyd’s Ascot in Underwriting Deal for Power Generation with Brit, QBE, Sciemus

lloyd's insurer Ascot Underwriting Ltd. announced that it has formed the Strategic Power Consortium, which it described as a "dedicated ...

La Playa Insurance Introduces Yacht Coverage

La Playa Insurance will start providing coverage for yachts and other pleasure crafts after hiring Mike Taylor-West as head of Private ...

Catlin Boosts Hijack, Kidnap, Ransom Services with Partnerships

Catlin Group Limited has formed partnerships with two specialist risk management consultancies to enhance its services to clients with ...
Sponsored Content

Insurance Industry Charitable Foundation Harnesses New Technology to Reach Independent Agents

Walnut Creek, CA, 12/08/11 - The Insurance Industry Charitable Foundation (IICF) will make use of the new technologies available through ...

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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

My CPCU journey - almost finished.....
Posted: Wed Jan 4 -- Thank you for sharing your CPCU journey. I work for The Institutes and look forward to meeting you at the 2012 CPCU conferment in DC! Each... KD_Institutes
The transition from underwriter to producer...
Posted: Wed Jan 4 -- Hello, I'd like to offer my 2 cents. Transitioning from underwriter to a producer, I believe, would be rather easy. As an underwriter, you... TERRILYN
Acord Forms: Difference between 90 and 290
Posted: Tue Jan 3 -- I'm not a personal lines person, but I think ACORD 90 is a standalone app, and ACORD290 is designed to be combined with ACORD88 to make a... ForumReader1
LBPS, Seterus, QBE, IBM-LBPS
Posted: Tue Jan 3 -- Good morning and Happy New Year. Thanks for the reply and input. We have several run ins with them daily due to the amount of Homeowner... CIScommercial
Do you purchase Damage Waiver when renting a car?
Posted: Mon Jan 2 -- I am surprised that no one posted one of the major reasons for buying the coverage from the rental car place: If you don't, your personal... lonestar
CertsNow 24/7 or CSR24
Posted: Mon Jan 2 -- I have used CSR24 for two years and I could never leave. I have several large trucking accounts and condo association managers that love it.... volstrike3
Adding Addtional Insureds
Posted: Thu Dec 29 -- Listen to the advice given below. NEVER request a change to a policy without specific instructions from the policyholder... Temblor

Reader Comments

Settlement Reached in Elly Mae Clampett Barbie Doll Suit
Posted: Fri Dec 30 -- CBS and Mattel may own the rights to the character, but they don't own the rights to Douglas' appearance. Stupid laywers... Jon
South Carolina State Worker Seeks Free Speech Damages Over Firing
Posted: Wed Dec 28 -- Some of the founders were profoundly religious (Adams) while others were skeptics (Jefferson). Whenever one side claims that the country was... That Guy
Former New Mexico Hospital Exec Sued Over Missing $3.2M
Posted: Thu Dec 29 -- Had he been bilking Medicare or Medicaid, he would never have been caught. Fraud and waste in Medicare/Medicaid costs the taxpayers over... Amazed
Jay-Z Sued by Workers Compensation Board of New York
Posted: Fri Dec 30 -- I got 99 problems, but a lapse ain't one. Hit me! HarrisburgAgent
Why Drunk Driving Crashes Are Down in Michigan
Posted: Wed Dec 28 -- And I thought it was because everyone was leaving Michigan. Less vehicles on our roads. My other thought it's more important to pay for... Jacob S.

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