Daily Headlines: Wednesday, July 13, 2011

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Insurance Journal Daily Headlines
July 13, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

House Approves Flood Insurance Program Renewal, Reforms

The House of Representatives has approved a bipartisan bill to reauthorize the federal flood insurance program for five years and change ...

Fidelity National Sells Flood Insurance Business

Title insurer Fidelity National Financial Inc. has sold its flood insurance operations to WRM America Holdings LLC. Under the terms of the ...

Employment Class Actions Survive Despite Wal-Mart Ruling

The end of the road for a class-action discrimination lawsuit brought by female employees of Wal-Mart Stores Inc. has not spelled doom for ...

Allstate Q2 Catastrophe Losses Now at $2.3 Billion

The Allstate Corp.  announced $0.3 billion, pre-tax, in estimated catastrophe losses for the month of June 2011. June catastrophe losses ...

ACE Westchester Expands Environmental Coverage with Premises Pollution Package

ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, has launched ACE Westchester Elite Premises ...

Insurer Wants to Sign 100 Agents in 100 Days

A commercial lines insurer is on a mission to sign a number of independent agents— as many as 100 of them —within the next 100 days. ...

S&P Downgrades 6 Cat Bonds; Removes 10 from Negative CreditWatch

Standard & Poor's Ratings Services today has removed its ratings on 10 natural peril catastrophe bonds from CreditWatch with negative ...

From MyNewMarkets.com E&O for Insurance Agents, Adjusters: Are they More Vulnerable with Coverage?

Agents and adjusters have completely different roles in the insurance industry. But as intermediaries between insurance companies and their...
Academy of Insurance Webinar: Writing Lawyers Professional Liability Coverage
East

Pennsylvania Homeowners Sue Gas Driller over Water Well

A western Pennsylvania couple has sued a natural gas driller claiming its activities contaminated their water well. The Johnstown ...

Falling Concrete Barrier Kills Worker in New Jersey

An accident has claimed the life of a worker at a construction site on the New Jersey Turnpike. New Jersey State Police say 51-year-old ...

New York Agents Enjoy Above Average Share of P&C Market

The Independent Insurance Agents and Brokers of New York (IIABNY) said agents in the state fare better than peers in other states when it ...

USG Adds Two to Marketing Department

Pennsylvania-based USG Holding/Insurance Services Inc. has named Gabriella Gallucci as marketing coordinator and Liz Furrer as marketing ...
Midwest

State Auto Financial Updates Estimate of Q2 Storm Impact

In an updated estimate of the impact of second quarter 2011 catastrophe storm activity, State Auto Financial Corp. said second quarter 2011 ...

Hylant Group Names Gilbert President of Indianapolis Office

Privately owned insurance brokerage firm Hylant Group has hired Michael Gilbert to lead its Indianapolis, Ind., office. Prior to joining ...

PURE to Offer High-Value Homeowner Coverage in Michigan

Privilege Underwriters Reciprocal Exchange (PURE), a member-owned reciprocal insurer, has expanded to offer property and casualty insurance ...

Agents' Licenses Revoked in Ohio

Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor has revoked the insurance licenses of several resident and ...
Southeast

Mississippi Sues BP Gulf Oil Claims Fund

Mississippi Attorney General Jim Hood filed a lawsuit Tuesday to force Kenneth Feinberg, administrator of BP's $20 billion fund for Gulf ...

Henderson Joins AmWINS in Florida

Wholesale broker AmWINS Group Inc. said that Brian Henderson has joined the company as executive vice president. Henderson joins AmWINS ...
South Central

Louisiana Joins Surplus Lines Coalition

Louisiana is now participating in an agreement designed to help states efficiently comply with the requirements of the federal surplus ...

Louisiana Seeks More Than $500M in BP-Funded Projects

Louisiana will seek approval for more than a half billion dollars in projects to restore coastal areas and fisheries affected by last ...
West

MetLife Auto Stands By GM Auto Insurance Deal

MetLife Auto & Home says it sees its direct marketing arrangement with General Motors to provide insurance for new car buyers as a way ...

Wash. Workers’ Comp Prescription Drug Costs Among the Lowest

The high cost for prescription drugs for injured workers in some states is a major issue for policymakers, but not in Washington state, ...

B&B Premier Insurance Adds Thayer as Broker-Agent

B&B Premier Insurance Solutions of Agoura Hills, Calif., has added Maria G. Thayer as an insurance broker/agent, to the B&B Premier ...

Mercury General to Report Q2 Results on August 1

Los Angeles-based Mercury General Corp. reported that on August 1, it will release results for its second quarter ended June 30, 2011. The ...
International

Greenpeace Charges Big Name Brands Sourcing from Polluting China Firms

Some of the world's leading clothing brands rely on Chinese suppliers that pollute rivers with toxic, hormone-disrupting chemicals banned ...

UK’s ABI Launches Insurance Fraud Database

The Association of British Insurers has underlined its members' determination to actively  pursue the fraudsters and cheaters who cost the ...

Miller Names Collins, Davison to Exec Posts; Continues Growth

UK broker Miller Insurance Services Limited announced two promotions in London, effective immediately, in support of its continued growth. ...

Ironshore Expands International Presence with Entrance into Australian Market

Ironshore Inc. has expanded its international platform to the Australian market to provide access to specialty insurance coverages for ...

Europe Considers Greek Default Possible; Leaders to Meet

European Union leaders are poised to hold an emergency summit after finance ministers acknowledged for the first time that some form of ...

UPDATE – Validus Tops Allied World’s Bid for Transatlantic

Validus Holdings Ltd offered to buy reinsurer Transatlantic Holdings Inc for about $3.5 billion in cash and stock, trumping Allied World ...

Q1 Losses, Solvency II Drive Research on “Non-modeled” Perils Says Aon Benfield

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has reported that "catastrophic losses in the first ...

Best Report Says Takaful Poised for Growth, But Greater Focus Needed

A new special report from A.M. Best - Takaful Poised for Growth, But Greater Focus is Required - notes that "Takaful operators in the Gulf ...

Speers Joins Miller as Head of Legal Matters

The UK's Miller announced that Ben Speers has joined the London-based broker as Head of Legal. He will oversee Miller's legal and company ...
Academy of Insurance Webinar: Understanding and Explaining Ordinance or Law Coverage

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New Discussions in the Forums

Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Tue Jul 12 -- Does anyone know of an agency or wholesaler who sells Travel Insurance on behalf of an Insurance Carrier? Thanks bf1chicago
National Agents Alliance? Legit or Keep Away?
Posted: Sat Jul 9 -- I just had a very nice meeting with an NAA rep. Guy was very straight forward and didn't try to sell me on anything. I was pretty... slushpuppyking
CA - Counselor Working with Foster Parents/Kids
Posted: Fri Jul 8 -- You might want to review the exclusion (the actual document) to see what it really says. Then you will know exactly what you are dealing... pita3333
CA-Guaranteed Replacement Cost
Posted: Sat Jul 2 -- HO-411 Guaranteed Replacement Cost, affects Coverage A, B, C, and D limits. It's not exactly "unlimited" as the endorsement or some people... RKunz2
Agency Management Systems
Posted: Mon Jun 27 -- I've used AgencyPro for several years and love it. I do both direct and agency bill policies and the accounting works just fine for me. It... Marina

Reader Comments

Leadership Turnover, and Women Executives, Rule at Fireman's Fund
Posted: Thu Jul 7 -- Here's a company that has shattered the glass ceiling. I sincerely congratulate the entire female upper echelon of Firemen's Fund and wish... Woman Insurance Professional, CPCU, ARM, ASLI, AAM, SM
Georgia Court Holds Store Liable for Fatal Crash After Beer Sale
Posted: Wed Jul 6 -- Excuse me but they dont pay those folks enough to tussel with an intoxicated person over whether to sell them alcohol or not. FLagent/insured
Insurer Questions Coverage for Jilted Football Player's Engagement Ring
Posted: Mon Jul 11 -- If she did not want to marry him, she should have returned the ring and the money. that simple. In essence, she is a user. Vickiellen
Agents Question GM Free Car Insurance Deal With MetLife Auto
Posted: Tue Jul 12 -- Question to so called Realist, How doe's insurance regulators of two states become Obama's problem. Do you know the difference between State... Raider Fan

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