Daily Headlines: Wednesday, August 31, 2011

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August 31, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Insurer Ratings Unaffected, Stocks Rally As Losses from Irene Look Manageable Loss estimates from Hurricane Irene continued to fall and ratings agencies said insurers would have no problem with claims, helping boost ... Can Federal Flood Insurance Handle Irene Losses? The only thing worse than getting flooded out of your home once is getting flooded out of it twice. Or, for that matter, over and over ... Irene’s Impact on Private Insurance Markets The $7 billion in estimated losses from Hurricane Irene compound the vast damage caused by weather in the United States this year. Yet ... Irene’s Impact on Fragile U.S. Economy The struggling U.S. economy should escape largely unscathed from Hurricane Irene and may even get a boost from reconstruction. Irene, which ... AIG Suit Against Bank of America Raises Disclosure Issues Top Bank of America Corp. lawyers knew as early as January that American International Group Inc. was prepared to sue the bank for more ... Judge Blocks Punitive Damages in Fossamax Claim Against Merck A federal judge on Tuesday threw out part of a bellwether lawsuit against Merck & Co. over claims that its osteoporosis drug Fosamax ... Best Affirms Ameriprise Financial and Subs Ratings A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of ... General Star Launches Nutraceutical Binding Authority Program General Star has launched a delegated authority platform to distribute its NutraAdvantageproduct nationwide. Wholesale broker Worldwide ... NAS Enhances Tenant Discrimination Insurance NAS Insurance Services' tenant discrimination insurance no longer includes co-insurance.  NAS' tenant discrimination insurance also ... LexArchaeology Provides Construction Owners Peace of Mind in Troubling Times Even though the rate of new construction projects has dipped significantly since 2008, those that are funded, especially large commercial... More National News Webinar: Beyond Basic Training Information Session (join us free) New from Insurance Journal's Academy of Insurance Understand Why Insurance is Not Risk Management. Instructed by Chris Boggs, author of "Insurance is Not Risk Management: The Insurance Professional's Guide to Risk Management and Insurance". Because this is a free class - seating is limited to the first 250 people. Next week: Click Here to Register East Forecast: Few Insured for Irene’s Losses in Connecticut Only about 30 percent of property losses inflicted by Tropical Storm Irene in Connecticut will be covered by insurance, according to an ... Jury Finds Naval Officer Guilty of Defrauding 9/11 Victims’ Fund A retired naval officer honored for his valor during the Sept. 11 attack on the Pentagon has been found guilty of defrauding the victims' ... Maine's Northeast Bancorp Sells Its Insurance Group to 2 Local Agencies Lewiston, Maine-based Northeast Bank Insurance Group has been acquired by local agencies in two separate transactions effective Sept. 1. ... More East News Midwest Former Nebraska Insurance Claims Examiner Pleads Guilty to Mail Fraud An Omaha man has pleaded guilty to mail fraud while he was working as a claims examiner for an insurance company. The U.S. attorney's ... New Illinois Law Meant to Help Smokers Kick Habit A new Illinois law requires insurance companies to offer coverage for services meant to get smokers to kick the habit. The American Lung ... More Midwest News Southeast Home Insurers in Georgia Seek Rate Hikes A year after most Georgia insurers increased homeowners premiums by 9 to 23 percent, a new wave of increase requests is pending. State ... More Southeast News South Central Man Sentenced to Life in Louisiana for Death of Insurance Agent Calling the crime a "despicable act," a Louisiana judge has sentenced a 22-year-old man to life in prison in the killing of a Georgia ... Louisiana Worker Insurance Program Valued at Up to $217M The market value of a state worker health insurance program that Gov. Bobby Jindal is considering privatizing has been pegged between $133 ... TDECU Insurance Agency Welcomes New President TDECU Insurance Agency LLC in Lake Jackson, Texas, has added Wesley "Wes" Wolff as president. He brings more than 30 years of insurance ... More South Central News West Judge Limits ‘Housewives’ TV Star’s Damages for Wrongful Firing A judge urged attorneys to try to settle Nicollette Sheridan's wrongful termination lawsuit over her ouster from "Desperate Housewives"  ... Driving Deaths Continue to Decline in Arizona Arizona's transportation department says that driving-related deaths continued to decline last year. The Department of Transportation's ... More West News International Irene Losses Won’t Trigger Policy Payouts – CCRIF The Caribbean Catastrophe Risk Insurance Facility (CCRIF) announced that, "while Hurricane Irene resulted in registered losses in six of ... Swiss Re Sigma Study Examines Government/Private Sector Coverage Swiss Re's latest sigma study  - "State involvement in private insurance" - examines the increasing symbiosis between governments and the ... Report Says Asia to Add 1.66 Million Millionaires by 2015 Asia will add 1.66 million dollar-millionaires by 2015, taking the total number of wealthy to 2.82 million as the world's fastest-growing ... Marsh Acquires African Insurance Business of Alexander Forbes Global insurance broker Marsh said it will acquire the brokerage business of Alexander Forbes. This business comprises Alexander Forbes ... More International News Webinar: Top 7 CGL Coverage Questions New from Insurance Journal's Academy of Insurance Help get a better understanding of the underwriting thought process. Next week: Click Here to Register Join the Insurance Journal Network Insurance Journal TV What's in a Name? Unitrin CEO Southwell Says A Lot A legendary insurance company name is back in the headlines. Unitrin Inc. has taken the Kemper... Watch Now Brokering the Hot Cyber Liability Market With data breaches in the news, cyber liability insurance is gaining recognition. The market... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums CPCU classes vs. CLU classes Posted: Wed Aug 31 -- Anyone have any info on future CLU conferment ceremony locations?? PatsFan2001 Lifted trucks - who insures them? Above 6'' Posted: Tue Aug 30 -- I have customers with greater than 6 inch lifts.. who insures this? Many companies accept small lifts, but nothing beyond 6 Thanks Uni meytai Why Would an Agency Retain Trust Account Service? Posted: Tue Aug 30 -- My agency maintains separate fiduciary accounts for each carrier (9) we have 'sweeps' for. This way one carrier cannot 'accidentally'... darnovak Book recommendation for starting an agency? Posted: Tue Aug 30 -- In addition to reaching out to different agency owners for advice/counsel/mentoring, etc., you may wish to look at the publications offered... Rainmaker Preparing for the New York State brokers' license exam Posted: Mon Aug 29 -- Can anyone please recommend study material to use in preparing for the second exam for the NY State licensing requirement for insurance... John J90 CIBA Insurance purchasing group...Help Posted: Sat Aug 27 -- While I am hoping Hurricane Irene doesn't cause significant damage to the east coast, I am curious to see what will happen if some of these... HOA Expert GMAC AUTO IN CA Posted: Sat Aug 27 -- Had them for 2 years before I switched to GEICO. Very good customer service and very easy for claims. Thing is their prices are jacked up. I... London946 Go to Forums Reader Comments California Surfboard Maker Faces Product Liability Claim Posted: Mon Aug 29 -- Anyone in action sports will be injured at one time or another. It's part of the game. What surfer hasn't been cut by his fin or hit in the... OC agent With FEMA Running Low on Funds, Irene Revives Budget Battle Posted: Tue Aug 30 -- Not to worry. Geightner and Bernanke will just crank out the money for FEMA. God forbid if a few of the several hundred other Federal... Longtime Agent Allstate Files $5 Million Insurance Fraud Case in New York Posted: Wed Aug 24 -- "Black and white proof"? Sorry Eddie K. sounds like you just have a bone to pick about a claim that wasn't resolved to your satisfaction. If... Don't buy it Texas Supreme Court: Bad Faith Claim Inconsistent with Worker's Comp Posted: Tue Aug 30 -- It is well known that Texas Mutual does not like to be ripped off on fraudulent claims. I have to believe they investigated this incident... Longtime Agent Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue The Insurance Journal Satire Issue! News that never happened. Features you won't forget. Plus reader submissions, fake statistics, made-up mergers and lots more. 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