National News for June 2010 Lexington Extends CrisisResponse Coverage to Healthcare Insureds Rockwood Adds General Liability to Life Agents’ Errors & Omissions Financial Crisis Panel Hears from AIG’s Cassano, Goldman’s Lewis Hurricane Alex Could Reach Land Today in Mexico, Texas Special Reuters Report: Oil Spill a Gusher for Lawyers; Litigation May Take Years More Oil Spills to Come, Says Professor Senate Committee Votes to End Oil Spill Liability Cap Retroactively If Today’s Bid Fails, Next Likely Vote to Restart Flood Insurance: July 12 Hurricane Alex to Hamper BP’s Gulf Oil Disaster Containment Effort Zurich Increases Capacity, Expands Appetite for Specialty E&O Business Fireman’s Fund to Offer Discount for Energy Star Labeled Buildings Mercer Insurance Group Rating Upgraded to Stable From Negative Neal Bill, HR 3424, Proponents and Opponents Trade Salvoes AIG’s Cassano, Sullivan and Goldman Excutives to Face Crisis Panel State, Maritime Law to Determine BP Oil Claims, Says Feinberg How to Overcome the Hurdles of Hiring to Smaller ‘Big Cities’ Supreme Court Upholds But Criticizes Business Method Patents Ruling Supreme Court Partially Strikes Down SOX Accounting Board Homeowners Offered Few Insurance Choices in Hurricane States BP Says Storm Waves Will Delay Oil Capture USLI Expanding with Retail Agent Distribution; No Longer Exclusively Wholesale Lawmakers Agree on Historic Financial Industry Reforms Highlights of U.S. Financial Reforms Democratic Governors Defend Healthcare Overhaul A Look at the More Than 240 Lawsuits Against BP in U.S. A.M. Best: P/C Insurer Financial Impairments Triple Since 2007 Asterisk Financial Launches Personal Guarantee Insurance Google, YouTube Beat Copyright Challenge from Viacom More U.S. Firms Buying Terrorism Insurance; Prices Decline: Marsh Willis Appoints Neborak as Group CFO Last Chance: Insurance Journal Top 100 Agencies Fireman’s Fund Introduces New Green Insurance Endorsements Alteris Launches Residential Lease Guarantee Program with Insurent Munich Re Expands Admitted Capabilities for Program Administrators Gulf Oil Disaster Cleanup Workers Risk Health Problems Ratings Recap: Mercer Group, CAMICO, First Jersey House Passes Flood Insurance Extension; Senate Must Still Vote P/C Insurers Return to Profitability in Q1 With $8.9B in Net Income Lawsuit Fears Lead to Overtesting by Hospital Emergency Rooms Judge’s Approach to Curbing Malpractice Suits Gets $3 Million Rush to Electronic Health Records Could Increase Liability Risk 11 East Coast States Hold BP Responsible for Oil Disaster Claims Safety Concerns Rise As Golf Carts Take to the Streets Supreme Court Rejects Pfizer Punitive Damages Appeal Willis Forms Distressed Assets Practice; Ruane to Oversee BP Partner Anadarko Places All Blame for Oil Disaster on BP BP Looking to Raise $50 Billion to Cover Gulf Oil Disaster Costs After Profitable 2009, Reinsurers Face Pricing Pressure from Primary Insurers Ratings Recap: Chartis, C.P.A., Electric Wholesaler TB&C Joins with CRC Insurance in California Navigators Launches E&O Coverage for Contract Research Organizations AIG Puts Dooley in Charge of Asset Management Senate Again Rejects Bill Containing Flood Insurance Program Restart Oil Fears May Hurt Gulf States’ Economies More Than BP Spill NAS Lowers Rates, Minimum Premiums for Insurance Agents E&O Neace Lukens Launches New Life Sciences Specialty Insurance Service Willis Forms Distressed Assets Practice; Ruane to Oversee Avoca Insurance Forms Manchester Specialty Programs SEC Said to Complete Probe of AIG and Executives How New Independent BP Claims Process Should Work Strong Brand Leads List of Critical Marketing Factors for Agents The National Alliance Awards 24 Scholarships Progressive Sees Increase in Cat Losses in May Zangwill-Infantino Forms Insight Insurance Consulting Irwin Siegel Agency Expands Youth Focused Insurance Program Insurance Recovery Experts Launch Dedicated Subrogation Division Documents Reveal BP Cut Safety on Oil Rig to Save Money, Time Obama Demands BP Set Up Independent Account for Oil Claims iPipeline Awarded Patent for Computer Method for Insurance Applications Federal Judge Approves $72M Insurance Settlement with The Hartford Nation’s Flood Insurance Program Remains in Limbo BP Agrees to $20 Billion Claims Fund; Amount Not a Liability Cap S&P Revises Marsh Mac Outlook to Negative; Ratings Affirmed Ratings: Toyota Motor, First Mercury, Eastern Alliance, Southern Farm Rise in Employer Healthcare Costs Slowing Lawyer for Alleged Ponzi Schemer Stanford Accused of Insurance Fraud Restaurants Lax on Food Safety, Says Researcher Statehouse Casualty, Windward Group Offering Umbrella to $5M CNA, SeaPass to Expand On-Line Quoting for Small Business Partners Obama Seeks BP Escrow Account to Cover Oil Claims BP Oil Spill Claims Hit $1.6 Billion Commercial Insurance Prices Stay Level for 5th Straight Quarter Best Affirms Liberty Mutual, Subs ‘A’ Ratings; Outlook Negative Best Places PMA Capital and Subs Ratings under Review/Positive Best Sees No Change in Old Republic’s Ratings from PMA Acquisition Possibility of BP Bankruptcy Due to Oil Claims Seen Remote For Now Congressional Panel Criticizes Government Over AIG Bailout Insurance Software Firm Vertafore Acquired by TPG Capital The Competitive Advantage: Opportunity Knocks Submit Today: Insurance Journal Top 100 Agencies IronPro to Offer Privacy Coverage on Miscellaneous Professional Policies BP’s U.S. Shares Plunge on Oil Spill Liability Fears Senator Eyes Prison, Compensation for Environmental Crimes Chemical BPA Used In Most Food Can Linings Raises Concerns And the Best, Worst States for Tort Liability Costs Are… Best Affirms NYMAGIC Group, Subsidiaries Ratings; Outlook Stable Travelers Adds SolarPak Coverage to Its EnergyPak Products Big “I” Markets Introduces Pollution/Environmental Product Aon Helps Lenders With Foreclosed Property Through Risk Management OnPoint Underwriting Adds Surety Bond Coverage for Tribal Clients Insurance Expert to Testify at Hearing on Oil Spill Liability Today Best Upgrades Travelers Group Issuer Credit Ratings; Revises Outlook FEMA: Insurance Applies if Oil from Spill Mixes with Flood Waters Long Named Liberty Mutual President Risk Management a Low Priority for Small Biz World The Hartford Names Awad as Chief Technology Officer Midlands Introduces Public Entity Package Navigators, Victor O. Schinnerer Launch Non-Profit Directors & Officers Program Aon eSolutions, Aon Global Risk Launch Public Entity Claims Tool Swett & Crawford in ‘Advanced’ Merger Talks with UK’s Cooper Gay Preferred Concepts Buys Wholesale Broker Mercator Foley to Head Berkley Risk Administrators Co. State Farm Won’t Add New Flood Policies but Agents Will Still Sell Them Ratings Recap: Builders Group, FMH Group, MAG Mutual, Nationwide (Fla.) Anderson to Head U.S. Construction Practice at Marsh Marsh & McLennan Sells Kroll to Providence for $1.13B Chartis Expands XSEnhanced Umbrella Program to Real Estate Industry S&P: AIG Ratings Unchanged after AIA Deal Fails; Outlook Negative Best Affirms Horace Mann and Subsidiaries ‘A-’ Ratings; Outlook Stable V3 Introduces New Miscellaneous Professional Liability Program BP Lowers Containment Cap onto Wellhead But Uncertainty Remains Citibank Employee Sues, Says Good Looks Got Her Fired Best Affirms Fairfax, U.S. Members Ratings; Upgrades Seneca’s ICR BP CEO: Industry Needs to Reassess Deep-Sea Operations, Safety Chubb Urges Shareholders to Reject Mini-Tender Offer by TRC Capital Oil Rig Tragedies Shock Insurers, Destabilize Market, Says Willis Insurance Journal Searches for Top 100 Agencies S&P Warns P/C Insurers on Reserving Practices Hail Loss Claims Up 61%; Suspicious Claims Up 136% Premier Insurance to Offer Hospital Coverage Sponsored by Allied World Lexington Introduces Self Storage Facilities Program BP Oil Spill Losses Hit Reinsurers; Premiums Jump AIG CEO Benmosche Looks Safe Despite AIA Deal Failure 2010 Atlantic Hurricane Season: 76% Chance Major Storm to Hit U.S. Chartis Renames Small Business Division as Growth Enterprises Brunner to Head Zurich North American Specialty Casualty Group Homebuilder, Manufacturer Worried About Chinese Drywall in 2006 Judge Rejects Fraud Charge, Says Rating Agencies Not Underwriters CNA Takes Over Not-for-Profit Directors & Officers Liability Program 10 Catastrophe Bonds Closed Before Hurricane Season Opening BP Claims Payments Don’t Cover Fishing Season That Got Away Transocean Revises Bid to Limit Liability After U.S. Criticism Gulf Oil Spill Threatens Mississippi, Alabama Islands Gulf Oil Rug Workers Claim Safety Sacrificed to Save Money S&P Lowers State Auto Group’s Ratings to ‘A-’; Outlook Stable Best Affirms RLI Group’s ‘A+’ Ratings; Outlook Stable Ratings Recap: Frankenmuth, Oregon Dental, Sooner, Commercial Casualty Flood Insurance Program Suspended Until June 7 or Later National News Archives
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