Wednesday, February 1, 2012

Daily Headlines: Wednesday, February 1, 2012

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Insurance Journal Daily Headlines
February 1, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Willis Exec Touts Captives As Key Tool in World of Changing Risks

In an environment of rapidly evolving risks, purely anticipating risk is not enough. Organizations also need to focus on building ...

Office Super Bowl Pool? How to Pick Like a Pro

With Super Bowl XLVI less than a week away, armchair quarterbacks are flexing their biceps to throw hard-earned cash into the office pool. ...

New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models

A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe ...

AMS RRG Launches Plastic and Aesthetic Surgery Program

AMS RRG will start offering new medical liability insurance coverage options specifically designed for plastic and aesthetic surgeons ...

Halliburton Wins Ruling vs. BP Over Some Gulf Oil Spill Claims

A federal judge on Tuesday said Halliburton Co. is not liable for some pollution claims arising from the 2010 Gulf of Mexico oil spill, ...

Best Affirms American Service Pool Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of 'B' (Fair) and issuer credit ratings (ICR) of "bb" of Illinois-based ...

From MyNewMarkets.com Media Firms Could Face Insurance Woes in 2012

U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012,...
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East

W.R. Berkley Posts Q4 Profit of $118M; Average Renewal Rates Up 4.2%

W.R. Berkley Corporation reported net income of $117.9 million for its 2011 fourth quarter, a 7 percent decline compared to the same period ...

Virginia High Schools Join in Safe-Driving Campaign

Nearly three dozen Virginia high schools are participating in a safe driving campaign starting this week. The Virginia State Police is ...

Penn. Regulators Recovered $3.2M in Restitution for Consumers in 2011

The Pennsylvania Insurance Department said its office of market regulation completed 334 enforcement actions and market conduct ...

Deadline Feb. 2 for Quake-Related Jobless Benefits in Virginia

People in five counties and the city of Fredericksburg who lost jobs as the result of a powerful Aug. 23 earthquake face a deadline this ...
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Midwest

Missouri Democrats Vow to Oppose Discrimination Bill

Black lawmakers in Missouri, fearful of reversing decades of hard-fought civil rights gains, said they will try to prevent votes in the ...

Hylant Group Makes Changes to Executive Management Team

Toledo, Ohio-based insurance brokerage firm Hylant Group announced changes to its executive management team. Richard Hylant, who previously ...

Chartis Acquires Warranty Services Provider Service Net

Chartis announced it has acquired Service Net Warranty LLC, an Indiana-based provider of warranty/extended service plan administration and ...

CNA Among Corporations Returning Tax Breaks to Chicago

Insurance company CNA Group is one of three Chicago firms returning $34 million in tax breaks to the city. Also among the companies ...
Southeast

Florida Lawmakers Tackle Cash Checking Ties to Workers’ Comp Fraud

Florida lawmakers are looking to give regulators and law enforcement officials more flexibility to investigate check cashing companies that ...

Florida Firefighters Win Workplace Retaliation Claim Against Union, County

A federal jury has awarded $189,000 to two Tampa Bay area firefighters in a workplace retaliation case. The Tampa Bay Times reported that ...

Conoco Phillips Appeals Mississippi Worker’s $15.2M Asbestos Award

A Jones County man waited too long to file a lawsuit over exposure his exposure to workplace asbestos, attorneys told the Mississippi ...

A.M. Best Downgrades Florida's FFVA Mutual to A-

A.M. best has downgraded the financial ratings of FFVA Mutual Insurance Co. due to underwriting losses on its workers' compensation line ...
South Central

Judge Frees $100M in Louisiana Citizens' Claims Dispute

The governing board of Louisiana's property insurer of last resort held a special meeting on Jan. 31 to discuss how to deal with a ...

Texas High Court Reaffirms Bar Against Policyholder Negligence Claims

In a decision that workers' compensation experts say is good for Texas employees and employers alike, the Supreme Court of Texas issued a ...

Builder Agent Network Expands Program for Texas Construction Industry

Builder Agent Network has launched a product for home building and contractor markets in Texas. The company, which functions as the ...

Workers' Compensation on Legislative Agenda for Oklahoma State Chamber

Taxation, workers' compensation insurance and health care coverage top the State Chamber of Oklahoma's agenda for the 2012 legislative ...
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West

Wasington: 15 Counties Are Primary Natural Disaster Areas

The U.S. Agriculture Department has designated 15 Washington counties as primary natural disaster areas due to extreme weather conditions ...

Idaho Gets $625K in Prescription Drug Case

Idaho is getting $625,000 in the settlement of a lawsuit with a prescription drug maker accused of selling products at false or inflated ...

California Salami Plant to Pay $700K For Ammonia Leak

The owners of a South San Francisco salami plant will pay nearly $700,000 and overhaul its refrigeration system as part of a federal ...

Report: California Workers' Comp Insurers Returns Improved in 2010

After declining for four consecutive years, California workers' compensation insurers' return on net worth showed signs of improvement ...

Measures Taken To Earthquake-Proof Alaskan Hospital

For decades, the people who oversaw Fairbanks Memorial Hospital shared a comforting thought about the building—even if a powerful ...

Brazilian Blowout Maker Agrees To Labeling Changes

The maker of a popular line of hair-straightening products has agreed to alert consumers that two of its formulations emit formaldehyde ...

Storm Cost Seattle $1.35 Million

The Seattle Transportation Department says the mid-January storm cost the city of Seattle $1.35 million—more than half of its annual snow ...
International

Japan Cabinet Approves Cap on Nuclear Reactor Lifespan

Japan's Cabinet approved bills Tuesday aimed at bolstering nuclear safety regulations following last year's Fukushima disaster, including ...

Chubb System Helps Expedite Clinical Trials in China and Brazil

An online system from Chubb Group of Insurance Cos. can now be used to instantly obtain specimen policy language for trials in many ...

Lime-St.com For Underwriters Launches Cloud Computing for Insurers

London Market technology specialists TriSystems has announced the launch of a new electronic underwriting service to complement their ...

Willis Re Notes 25% Growth in Insurance Loss Warranty Market

A report from Willis Re in London points to 2011 activity as driving a 25 percent growth in Insurance Loss Warranties (ILWs) volume for ...

Willis Appoints Trigg as Managing Director for Global Solutions Unit

Willis Group Holdings announced that Bruce Trigg will join its Global Solutions team as Managing Director, effective April 1st. he is based ...

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New Discussions in the Forums

Farmers - your opinion
Posted: Wed Feb 1 -- As a former Farmers agent for 22 years (I terminated 2 years ago), the posts by the other former agents are correct. Farmers today is not... William Graham
Taxi company - CA 25 Units
Posted: Wed Feb 1 -- Mercury pulled out of the market so they wont renew. We are one of the two agencies who had mercury taxi. So the account is either with us... JAM
Personal Quake Insurance - CA
Posted: Wed Feb 1 -- Thanks for the comments. Curious about Fidelity National. How are they accessed? mightyquinn
Do you purchase Damage Waiver when renting a car?
Posted: Mon Jan 30 -- If I'm traveling and will be driving quite a bit in an urban area with which I am not familiar and the weather is or is projected to be... mightyquinn
Virginia Surety Writer in CA
Posted: Mon Jan 30 -- Gail, Call Virginia Surety and ask who represents them in CA Bob Lake
How do you ask for a referral?
Posted: Fri Jan 27 -- Another way is to send an email (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd

Reader Comments

People Lie More When Texting
Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo
Climate Change Lawsuit in Court in Oregon
Posted: Thu Jan 26 -- Indeed, I see how many comments have been posted, the vast majority of them completely uninformed about how our legal system works,... The Other Point of View
Arkansas Family Sues Driver, Company Over Teen's Death
Posted: Tue Jan 31 -- Cell phone use while driving is an accident waiting to happen. Driving a big truck requires more concentration than even a car. I think the... Agent
Lawyers Jump Into Cruise Ship Disaster Cases
Posted: Mon Jan 30 -- At least we're exporting something. youngin'
Bill Targets Arizona Toll Road Evaders
Posted: Tue Jan 31 -- And a law against concealed ray-guns just in case someone invents one. Anejo

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