Tuesday, October 23, 2012

Daily Headlines: Tuesday, October 23, 2012

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Insurance Journal Daily Headlines
October 23, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Rep. Frank Defends JPMorgan Against Lawsuit Over Bear Stearns

Democratic Congressman Barney Frank defended the nation's largest bank on Monday, saying in a statement that the government was wrong to go ...

W.R. Berkley Posts $101M Q3 Profit; Rates on Renewed Policies Up 7%

Commercial lines insurer W.R. Berkley Corp. reported $100.95 million net profit for its third quarter, up 32.1 percent from $76.41 million ...

F.I.D.O.'s Dog Bite Liability Insurance Fills Coverage Gap

When commercial lines insurance agent and dog owner Debbie Turner began to look into help for her difficult dog back in 2000, she had no ...

8 Lessons to Learn from the Upcoming Presidential Election

The 2012 presidential election is coming up quickly and the media is outputting endless stories, videos, tweets and more about it. Pay ...

ISO Updates Businessowners Program Coverage Form

ISO has made revisions to its  businessowners (BOP) product with  many coverage enhancements to the form, including: Broader Debris ...

AIG to Pay $11M Multi-State Settlement Over Life Policies

Insurer American International Group Inc. has agreed to an $11 million settlement with a group of states over its claims settlement ...

From MyNewMarkets.com Travelers Will Continue to Seek Improved Pricing: CEO Fishman

The Travelers Companies Inc. said its Business Insurance segment pricing continued to rise in the third quarter — led by workers'...
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East

Rising Medical Costs Lead to Hike in Cost Per WC Claim in N.J.: Study

The cost per workers' compensation claim in New Jersey rose following the end of the recession, according to a new study by the Workers ...

Allstate's Usage-Based Auto Insurance Expands to New York, New Jersey

Allstate announced this month that it has expanded its usage-based auto insurance product, Drive Wise, to four additional states including ...

Conn. Regulators Weigh Workers' Comp Rate Hike Proposal

Connecticut Insurance Commissioner Thomas Leonardi announced a 30-day public comment period on the National Council On Compensation ...

Memorial for '03 Rhode Island Nightclub Fire Unveiled

Relatives of the 100 people who died in a 2003 Rhode Island nightclub fire cried and held each other last Saturday during the unveiling of ...
Scary Insurance Dreams from Academy of Insurance
Midwest

Safety Experts Say Kansas Graduated License Working

A graduated driver's license law in Kansas that went into effect in January 2010 has helped sharply reduce the number of accidents ...

McElroy to Lead TransUnion's Insurance Business

Chicago-based TransUnion announced that Mark McElroy has joined the company as the new executive vice president of its insurance business ...

City, Fire Officials in Kansas and Missouri: Sky Lanterns Are Dangerous

Some municipal officials in Missouri and Kansas want to permanently ground lanterns that float through the night sky, saying they are ...

Burns & Wilcox Taps Karl to Lead Kansas City Office

Burns & Wilcox named John J. Karl as the Overland Park, Kansas branch manager. Karl will lead an expanding Burns & Wilcox office that ...
Scary Insurance Dreams from Academy of Insurance
Southeast

Florida Approves More Policy Takeouts at Citizens; Also OKs Commercial Rate Hikes

Florida regulators announced that two property insurance companies have been approved to take out up to 100,000 policies from the ...

Federal Agency Joins Mississippi Hotel Fire Probe

Federal investigators have joined the investigation into last Wednesday's fire at a Howard Johnson Inn on the Mississippi Gulf Coast. The ...
South Central

Hummel Named President of Humana's Employer Group Division in Texas

Linda T. Hummel has been named president of the Employer Group Division for Humana Inc. in Texas. A 22-year veteran with Humana, Hummel ...

Texas Billing Patients Ordered to Hospitals by Court

About a dozen patients a year in Texas are billed by state hospitals for psychiatric care they were ordered to undergo by courts, a ...

Big Tex Goes Down in Flames; Memorial Springs Up for State Fair Icon

As the Texas State Fair came to a close Sunday, one big mascot's absence continues to loom large over the fairgrounds. Big Tex, the ...

Social Service Agencies Earns $281K Dividend from Texas Mutual

Texas Mutual Insurance Co., working in partnership with Care Providers Insurance Services, announced today that the Social Service Agencies ...
West

Lawsuit: N.M. Agency Hurt Disabled Clients

A Clovis, N.M.-based nonprofit organization dedicated to "enhancing the lives of people with disabilities" is facing a lawsuit from clients ...

$42.7M Rate Reduction for Calif. Policyholders of 'Force-Placed' Insurer

California Insurance Commissioner Dave Jones announced a 30.5 percent rate reduction, for "lender-placed" homeowners' insurance coverage ...

AIG Settles, Will Pay California Life Beneficiaries $25-$30M

AIG Insurance Co. will pay an estimated $25 to $30 million owed to California beneficiaries of life insurance policies, and an $11 million ...
International

As Hedge Funds Cater to Insurers and Pensions, Rich Investors Turn Away

Rich private investors are turning their backs on hedge funds because moves to attract more conservative pension fund clients mean managers ...

Argentina to Require Insurers to Invest to Boost Economy

Argentine President Cristina Fernandez said on Monday insurers would have to invest some of their funds in production and infrastructure ...

Tropical Storm Sandy on Track to Become Hurricane

Late Monday, Sandy became the eighteenth named storm of the 2012 Atlantic hurricane season. According to the National Hurricane Center, ...

Drop in Somali Piracy Attacks Reported; Violence Up in Gulf of Guinea

The number of ships signaling attacks by Somali pirates has fallen this year to its lowest since 2009, according to a report from the ...

Aon Sponsoring NFL Move to Expand American Football in UK

Insurance broker Aon has signed up as an official sponsor of the National Football League's program to expand American football into the ...

Brit Insurance Drops Cricket Sponsorship

English cricket is searching for a new shirt sponsor for its national teams after Brit Insurance said it would not renew its contract ...

Hiscox Names Dixon to Head Catastrophe Research; Adds 2 Reinsurance Trainees

London-based Hiscox has appointed Dr. Richard Dixon as its group head of Catastrophe Research. In addition, Hiscox expanded its London ...

Willis Expands Acquaculture Division, Hires New Underwriter to Lead

Recent studies show that wild fish stocks around the world are declining faster than feared - with more than half of fisheries worldwide ...
Sponsored Content

Arizona CPCU I-Day Happening November 14th, 2012

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Insurance M&A Climate Today: Mystic's View

There have been some noteworthy mergers, especially among wholesalers. And there are signs...
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Louisiana's Donelon on Isaac, Citizens, Lawsuits and More

Despite taking a direct hit from Hurricane Isaac in late August, Louisiana probably won't see...

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New Discussions in the Forums

Do I need to schedule fine arts?
Posted: Mon Oct 22 -- Can you tell me reason(s) why fine arts need to be scheduled? It's been a long time since I handled much personal lines or went to a CIC... yoyowordup
How to market for me?
Posted: Mon Oct 22 -- What are "structural difficulties" and "group benefits mandate"? yoyowordup
Non-profit
Posted: Mon Oct 22 -- They do not have any Vehicles CoJones
CA Insurance P&C On-Line Licensing Schools
Posted: Fri Oct 19 -- When I got my license I used prelicensetraining.com It was online and very easy to follow. I hope that helps edclark90
Swimming Pool Contractor in NY
Posted: Fri Oct 19 -- Surf the net for various choices. superpages.com provides a directory of this where you can choose from. But the best choice would be to ask... robmejia
Insurance data management designation
Posted: Fri Oct 19 -- Does anyone know anything about the Insurance Data Management Association (IDMA) and their AIDM designation? Is it worth it? How does it... dcornett
Motel without fenced pool
Posted: Thu Oct 18 -- What state and what are the values for the motel? Feel free to send me details...
Pizza W/ delivery WC in CA
Posted: Thu Oct 18 -- State Fund is most likely your best bet...however Granite States might also be a player but a carrier is going to want some premium for that... AKBaillie
Creating a business plan
Posted: Wed Oct 17 -- Hi Group, First time post and I wanted to ask about creating a business plan for my agency of 5 years in Seattle. We have had great growth... insurastone

Reader Comments

Hamster Corralled After Oregon Driver Arrested For DUI
Posted: Fri Oct 19 -- Was the woman with the hamster driving a Kia Soul? Viking
Missouri Police Offer Breath Tests to Bar Patrons
Posted: Wed Oct 17 -- And then they follow them home:) Actually, doesn't sound like a bad idea. I'd like to see how this program turns out. Mikey
Southern California Worker Dies in Tuna Plant Oven
Posted: Tue Oct 16 -- Oh Jorma, where are you now? reality bites
Travelers Will Continue to Seek Improved Pricing: CEO Fishman
Posted: Fri Oct 19 -- I don't know about other Travelers Agents out there, but we are having some retention issues with their pricing strategy on both Personal ... Travelers Agent
Penn. Woman Arrested for Allegedly Adding Coverage While in Ambulance
Posted: Mon Oct 22 -- Almost as bad as providing coverage for pre-existing conditions. Scott Romoser

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