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Daily Headlines
October 21, 2014
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Today's Headlines

National

Jury Finds Guardrail Maker Trinity Cheated Government; Liability Could Top $1 Billion

Trinity Industries Inc. faces a potential liability of $1 billion after a jury found the company defrauded the U.S. by deliberately ...

Update on Ebola in U.S.: New CDC Protocols, Rapid Response Team, Czar

The United States issued stringent new protocols on Monday for health workers treating Ebola victims, directing medical teams to wear ...

Air Bag Recalls Renew Doubts About Carmakers' Responses to Defects

A deepening crisis involving deadly air bags is shaking confidence in the ability of automakers including Toyota Motor Corp. and Honda ...

EEOC Investigating Mandatory Retirement Age for Law Firm Partners

The Equal Employment Opportunity Commission is investigating whether mandatory retirement provisions at Deloitte LLP violate federal ...

Travelers Reports Profit Up 6% for Q3 on Higher Investment Income, Lower Cat Losses

The Travelers Companies Inc. today reported net income of $919 million for the quarter ended Sept. 30, 2014, up more than six percent ...

CPCU Society Elects Leadership Council Members

The CPCU Society elected Leadership Council members for 2014-15 at its annual meeting recently in Anaheim, California. The CPCU (Chartered ...

SterlingRisk Insurance Launches Aircraft Business Income Cover

SterlingRisk Insurance, a privately-owned brokerage based in Woodbury, N.Y., has launched aircraft business income coverage designed for ...

Aon Activates Ebola Response Task Force, Launches Ebola Response Room

Aon plc has activated the Aon Ebola Response Task Force, a team comprised of risk and health professionals worldwide, to monitor the ...

10 Insurance Myths (Men Are More Likely Than Women to Believe 8 of Them)

Men may be more gullible when it comes to insurance myths than women but even women think a number of popular myths about insurance are ...

Vlocity Debuts Salesforce Cloud App for Insurance Industry

San Francisco-based cloud software firm Vlocity has launched an app designed for the  insurance industry. The new Vlocity industry app ...

From MyNewMarkets.com Marijuana and Workers' Compensation on Industry's Watch List

Editor’s Note: This is the third in a series of articles on the the marijuana insurance industry. Upcoming stories will include reports on...
Carrier Management

Counterpoint: Spending on Ads Never Beats Spending on Insurance Agents

A recent research report published by Cliff Gallant and Matthew Rohrmann of Nomura Equity Research concludes that...
WEDNESDAY - Setting Business Income Limits For Dummies - Join Academy of Insurance for this live webinar
East

Heffernan Acquires Pilot Employee Benefits in New York

Heffernan Insurance Brokers announced it has purchased the assets of Pilot Employee Benefits of Melville, New York. Family owned and ...

Risk Strategies Acquires Benefit Development Group in Massachusetts

Risk Strategies Co., a national insurance brokerage and risk management firm based in Boston, announced it has acquired Benefit Development ...

Zurich Employees Volunteering for Home Rebuild Program in New York

Zurich North America said its employee volunteers will join St. Bernard Project, a nonprofit disaster recovery group based in New Orleans, ...

XL Adds 3 Underwriters to Cyber & Technology Risk Unit in New York

XL Group's Cyber and Technology business unit has added three underwriters, Sean Donahue, Elissa Doroff and Richard Schulz, to its New ...

Rhode Island's OceanPoint Insurance Hires Porter as Director of Sales

OceanPoint Insurance Agency Inc. in Middletown, Rhode Island, has hired Christine Porter as director of sales. Porter will oversee the ...
Midwest

New Crop Insurance Program to Benefit Small Ag Producers in North Dakota

Small farmers and ranchers in North Dakota who once were unable to insure their crops will get a chance to do so in 2015 under a new ...

RLI Adds New Healthcare Liability Division

Peoria, Ill.-based RLI Corp. has launched a new healthcare liability division, RLI Healthcare, and added Scott Ducey to lead the operation ...

Maximum Adds E&S Sales Teams in Chicago, Florida

Maximum, an independent, Chicago, Ill.-based excess and surplus lines wholesale distributor, announced further expansion to its sales team. ...

Methane Emissions Becoming an Issue for North Dakota Oil Industry

Methane emissions will likely be the next big environmental issue to face North Dakota's booming oil industry according to a top official ...
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Southeast

'Fangate" Stirs Florida Insurance Industry Fears Over Gubernatorial Election

If Florida's insurance industry was looking for any certainty about the results of the looming governor's race between Governor Rick Scott ...

Erie Insurance Group Enters Kentucky Market

Erie Insurance Group has begun to offer its products in the Kentucky market. The Erie, Pennsylvania-based insurer said its entry into ...
South Central

Jury Finds Texas Windstorm Insurer Adequately Paid City for Ike Claims

Texas' wind and hail insurer of last resort in coastal areas announced that a judgment has been entered in its favor in a lawsuit brought ...

Court: U. of Louisiana System Did not Breach Contract in Firing Coach

The state's high court has ruled that the University of Louisiana System and its Lafayette campus did not breach a former head football ...

Ebola Monitoring in Texas Expires for Some

About 120 people are now being monitored for possible infection with Ebola because they may have had contact with one of the three people ...

Officials: Caddo Lake Not Threatened by Louisiana Oil Spill

Cleanup crews continue to mop up a 4,000-barrell oil spill into a four-mile stretch of Tete Bayou northwest of Shreveport, La. Officials ...
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West

Southern California Agent That Sold Bogus Policies Sentenced

Dean Joseph Basler, 58, of Ventura, Calif. pleaded guilty to two felony counts of embezzlement associated with more than $250,000 in ...

California Jury Finds Toyota Seatbelt Caused Woman's Paraplegia

A California Superior Court jury has found Toyota Motor Corp. liable for causing devastating injuries to a young woman in a crash that ...

Wells Fargo, Telemundo Partner on Financial Literacy Campaign for Hispanics

Wells Fargo of San Francisco has partnered with Miami-based media giant Telemundo for a six-week media campaign targeting financial ...
International

Record Aviation Claims Driving Up Premiums

Insurers worldwide are going to have to pay up to a record $800 million to cover the damage done by attacks on airplanes this year, driving ...

Hannover Re Sees Storm Losses Stabilizing Reinsurance Prices in Germany

Hannover Re, the world's third- largest reinsurer, expects more than 5 billion euros ($6.4 billion) in losses from two storms to sustain ...

Guidance on EU Rules Created for Audit, Risk Committees

The Federation of European Risk Management Associations (FERMA) and the European Confederation of Institutes of Internal Auditing (ECIIA) ...

Litmus: More Bearish Ratings Expected for Reinsurance Sector

Since January the rating agencies have become increasingly negative on their outlook for ratings in the  reinsurance sector overall, while ...

S&P: Global Multiline Insurers' Credit Quality to Stay Strong in 2015

Global multiline insurers (GMI) continue to show strong credit quality, according to Standard & Poor's Ratings Services. S&P provided an ...

Aon Benfield Launches Arabian Earthquake Model

Impact Forecasting, Aon Benfield's catastrophe model development unit, launched a catastrophe model to estimate the financial impact of ...

Hardy Promotes Wright in Asia; Hires Bond and Osorio in London

Hardy Underwriting Asia Pte Ltd (Hardy Asia), a subsidiary of CNA Financial Corporation, has promoted Chris Wright as director and ...
Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #63

Inflation Factors are Missing. Some property policies, particularly dwelling policies in personal lines, lack automatic inflation ...

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Insurance Journal TV

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Aon Benfield's Impact Forecasting Head Explains the Latest Advances in Models

Adam Podlaha, the head of Aon Benfield's Impact Forecasting division, is responsible for...
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Swett & Crawford's New CEO: Thomas Ruggieri

Thomas P. Ruggieri will take over as the new CEO and president of the global wholesale and...

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New Discussions in the Forums

Big Independent Group
Posted: Tue Oct 21 -- First off let me start by thanking this gentlemen/lady "insurancechange" for taking the time to share his comments about the BIG Independent... Sal Ayala Jr
Travelers reducing commissions
Posted: Thu Oct 16 -- One of the questions on the survey was: "What can we do to become a top three carrier in your office?" The obvious answer: "Compensate us... ins-atty
Best Ways to Market a Niche Program to Brokers
Posted: Wed Oct 15 -- Maybe a better approach to marketing your niche product would be to partner with some of the agent/broker associations to be their... sgoebel
The next five years
Posted: Thu Oct 9 -- Most insureds are spending thousands of dollars with us for their insurance. I think the least we could do is give them a paper copy of... ins-atty
Aggregator
Posted: Thu Oct 9 -- Are their any aggregators that don't charge a monthly fee? CoJones
Permanent Travel Trailer Help
Posted: Wed Oct 8 -- Hi Jay, I sent a message to you on this subject and look forward to your reply. Jeff jsbair
State Farm
Posted: Tue Oct 7 -- Yea.. I'm not looking to do that. But thanks anyway.. I've been on the captive and won't get back... CoJones
What's hot' right now.
Posted: Tue Oct 7 -- Come on guy's...lol What are your marketing rep's bugging you to write... I know they are in your office.. CoJones
Boat Dealers with jet ski/boats
Posted: Mon Oct 6 -- We're an MGA that specializes in Recreational Marine Insurance and can help you with that risk, including the jet skis. You can learn more... cpesce

Reader Comments

Computer Model Predicts 2 Dozen Ebola Cases in U.S. This Month
Posted: Thu Oct 16 -- I am glad to here our President is spending the day with experts and working on a plan to manage the issues posed by the Ebola issue. I just... Rosie
'More Stringent' Ebola Safety Guidelines In the Works; Travel Ban Debated
Posted: Mon Oct 20 -- it is INSANE how people are making Ebola out to be the greatest threat to our safety and health, when one person has perished on US soil. I... Rosie
W. Africa Ebola Cases May Rise to 10,000 a Week by December
Posted: Tue Oct 14 -- And Obamanation wants to let everybody into USA for treatment. I believe he will help his fellow Muslims and Africans even if it kills every... Realist
Second Healthcare Worker Tests Positive for Ebola at Texas Hospital
Posted: Wed Oct 15 -- This just keeps getting worse. I also saw that apparently this nurse flew on a commercial airline the night before she was isolated at the... GenXUnderwriter
Florida County Not Liable for Boy's Death on Beach
Posted: Thu Oct 16 -- Although tragic, it is nice to see common sense prevail for once. The parents' attorney should go after the driver - if need be - instead of... Scott

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