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Insurance Journal Daily Headlines
November 20, 2009
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Ohio AG Sues National Ratings Agencies Over Securities Information

Ohio Attorney General Richard Cordray has filed a lawsuit against national securities and credit ratings agencies Standard &...

Most Americans Want Congress to Address Cost of Malpractice Lawsuits

Most Americans want Congress to deal with malpractice lawsuits driving up the cost of medical care, says an Associated Press poll. Yet...

U.S. Senate Gears Up for First Key Healthcare Reform Vote

Democrats in the U.S. Senate geared up for a fierce battle over a new healthcare reform plan Thursday as Republicans condemned the bill's...

Floridians Concerned About Their Personal Financial Condition

Against the backdrop of the worst economic slump in more than 30 years, more than 83 percent of Floridians are concerned about their money...

Health Care Reform Dominates Trade Group's Lobbying Agenda

Until this year, health care was a minor blip on the radar of insurance agents’ policy efforts in D.C. But with a major reform bill...

AIG CEO Benmosche Frustrated with Degree of Government Oversight

An American International Group Inc.'s board meeting is expected next week against the backdrop of Chief Executive Robert Benmosche's...

Ex-Parmalat Auditors Settle U.S. Investor Lawsuit for $15 Million

Two former auditors of Parmalat SpA agreed to pay $15 million to settle a class-action lawsuit by U.S. equity investors over their roles in...

Best Affirms Ratings of Assurant and Its Subsidiaries; Several Upgraded

A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance...

Best Affirms Balboa and Group Members 'A' Ratings

A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of “a” of...

Best, S&P Assign Ratings to Transatlantic $350 Million Debt Issue

A.M. Best Co. has assigned a debt rating of “bbb” to the recently issued $350 million 8.00 percent 30-year senior unsecured...

From MyNewMarkets.com Underwriters COPE with Apartment Risks

COPE is generally associated with property underwriting rather than as a risk class-based underwriting acronym. However, the traditional...
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East

Court: Owners of Truck in Fatal Connecticut Crash Can Sue Insurer

The Connecticut Supreme Court has reinstated a lawsuit filed by the owners of a dump truck that caused a fatal 20-vehicle wreck in Avon, in...

Pennsylvania Woman Can't Re-Sue Ernst & Young for $103M

A federal appeals court says a western Pennsylvania woman isn't entitled to a new trial on her claim that an accounting error by Ernst &...

Small Earthquake Shakes Western Maine

The New England Seismic Network says a small earthquake shook parts of western Maine early Thursday morning. According to Weston Observatory...
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Midwest

Tour Bus Crashes in Minnesota; Company Says Driver Had Aneurysm

A tour bus driver suffered a ruptured aneurysm before a crash on a southern Minnesota interstate that killed two people and injured 21...

New Captive Insurer in Missouri to Focus on Foodservice Industry

The Missouri Department of Insurance reported that a leader in the U.S. foodservices market has become licensed as a captive insurance...

Survey: Health Insurance Costs 22% More in Wisconsin

A new survey finds Wisconsinites pay more for health insurance than the rest of the country and the cost is rising at a faster rate. The...
Southeast

McCarty Hopeful State Farm Exit from Florida Can be Avoided

The state’s largest private property insurer may not leave Florida after all, Insurance Commissioner Kevin McCarty told Gov. Charlie...

Florida Jury Orders $300 Million Damages for Ex-Smoker

A Florida jury Thursday ordered cigarette maker Philip Morris USA to pay $300 million in damages to a 61-year-old ex-smoker named Cindy...

Fire Official Urges Georgia Churches to Be on Arson Watch

Georgia's top fire official is urging churches to bolster security after two metro Atlanta churches were set on fire. Georgia Insurance and...

North Carolina FAIR, Beach Plans Get New Board Members

North Carolina Insurance Commissioner Wayne Goodwin announced the appointment of five new members to the N.C. Joint Underwriting...
Texas / South Central

Louisiana Agency Owner, a Jefferson Parish Official, Retires Amid Probe

Jefferson Parish's embattled chief administrative officer, Tim Whitmer, is retiring as federal investigators began subpoenaing records of...

Texas Mutual Pays $760K Dividend to Green Industry Group

Texas Mutual Insurance Company announced a $760,070 dividend to the Texas Green Industry (TGI) purchasing group. TGI has earned $2,643,037...
West

California Report Shows White Collar Injury Grows in Importance

A new study from the California Workers' Compensation Institute shows that claims from white-collar workers have assumed greater relative...

California Reassures Women that Mammogram Laws Not Changed

In the wake of new recommendations for mammography, California officials said that a state law remains in place to ensure that insurance...

L.A. Report Says Fire Service Should Fly During Nighttime

The U.S. Forest Service should allow helicopters to fight fires during darkness, a tactic that could have been used in the critical first...
International

ACE Europe Warns Global Recession Creates New Supply Chain Risks

Phil Wall, Senior Account Engineer at ACE, speaking at The Economist Risk Summit in London on Thursday, urged businesses to recognize that...

Lloyd's '360 Report' Highlights Microinsurance Opportunities

A new report produced by Lloyd’s 360 Risk Insight and the Microinsurance Centre - Insurance in developing countries: exploring...

UN Climate Chief Seeks $10 Billion from Rich Nations to Help Poor Countries

The U.N. environmental chief called on rich nations Thursday to pledge $10 billion a year for three years at next month's Copenhagen summit...

Marsh Report Forecasts 'Softening' in Energy Market in 2010

A new intelligence report from Marsh concludes that "energy firms are set to enjoy a softening insurance market in 2010, as a result of...

Aon UK Sees Decreased Commitment by Insurers to Food Industry

A study from Aon UK warns that "insurers may reduce the amount of capital they’re willing to commit to the food industry in Q4 2009...

Best Affirms Ratings Flagstone Re Africa's 'A-' Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit rating (ICR) of “a-” of...

Canada's Sun Life Financial Considering U.S. Insurance Acquisitions

Canada's Sun Life Financial Inc. said Thursday it is seeking acquisitions to expand its U.S. insurance business but believes organic growth...

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P/C Insurance & the Economic Recovery

This recession certainly has kept economists busy. None busier, perhaps, in the insurance...

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New Discussions in the Forums

Guaranteed Replacement Cost for HO3
Posted: Fri Nov 20 -- I don't think the word Guaranteed is used anymore, not since the Oakland fires. You can get Extended Replacement Cost, though, from... LadyBroker
Best way to insure a restaurant prior to opening?
Posted: Fri Nov 20 -- I would be very surprised if the tenant is not required to hire a licenced contractor to do the work...maybe not a GC, if it's just paint... LadyBroker
Products Liability for Oil Country Tubular Goods (OCTG)
Posted: Fri Nov 20 -- We have markets who can write this type of business. E-mail me at
The Woodlands Financial Group
Posted: Thu Nov 19 -- Along with obtaining markets for both commercial and personal lines an agency should also have financing options available for their... maryh
Starting P&C Agency
Posted: Thu Nov 19 -- Along with obtaining markets for both commercial and personal lines an agency should also have financing options available for their... maryh

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November 16, 2009

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