Daily Headlines: Wednesday, November 25, 2009

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November 25, 2009

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Today's Headlines National Stanford Sues Lloyd's of London for Defense Fees Under D&O Policy Allen Stanford, who faces U.S. criminal and civil charges for allegedly leading a $7 billion Ponzi scheme, is suing Lloyd's of London for... Benmosche Agrees to Stay As AIG Board Approves His $7 Million Pay American International Group Inc., the insurer that received billions of dollars in a U.S. bailout, has been authorized by its board to pay... Best Downgrades Kingsway and Several Subsidiaries Ratings A.M. Best Co. has downgraded the issuer credit ratings (ICR) and senior debt ratings to “ccc” from “b-” of Canadian... NIP Expands with Acquisition of San Diego Executive Benefits Firm Texas-based risk management, executive compensation and benefits and corporate governance firm, NIP Inc., has acquired Retirement Capital... Feldhaus Wins Founders Award from PLUS The Professional Liability Underwriting Society (PLUS) has recognized Dr. William Feldhaus with the organization’s 2009 PLUS Founders... What Movies Teach us About Insurance In June of 2005, the American Film Institute (AFI) released its 100 greatest or most memorable movie lines from the first 100 years of film.... More National News East New York Regulator Proposes Changes to No-Fault Insurance Coverage The New York State Insurance Department is proposing new regulations for no-fault auto insurance coverage in Empire State, in a move the... Pittsburgh Insurance Agency Employee Steals $432K The former bookkeeper for a Pittsburgh insurance agency has pleaded guilty to mail fraud for stealing more than $432,000 from the... Patterson-McKenna Insurance Joins Bollinger New Jersey-based Patterson-McKenna Insurance Agency Inc. (PMA) has joined Bollinger Insurance brokerage. The agency provides a wide array... Balboni to Head P/C Practice at William Gallagher Associates Boston-based insurance brokerage William Gallagher Associates (WGA) has named Jamie T. Balboni as the new head of its Property &... More East News Midwest Bill Would Extend Tax Relief for Midwest Disaster Victims Iowa Sen. Chuck Grassley wants Midwest disaster victims to have more to time to benefit from tax relief intended to help with the repair or... Ohio Senator Wants to Eliminate Workers' Comp Insurance for Illegals A Republican state senator in Ohio wants to prohibit the nation's largest state-run injured worker insurance program from providing benefits... Missouri to Distribute $75M to General American Policyholders More than 300,000 current and former policyholders of General American Life Insurance Co. will soon receive $75 million in distribution... More Midwest News Southeast Change to Tennessee Workers' Compensation Mandate in Doubt A special legislative session to reconsider a pending change to workers' compensation insurance requirements in Tennessee should only take... Miami Condo Association Sues QBE Insurance Over Hurricane Claims A Miami condominium association is suing its insurer, QBE Insurance Corp., and its Florida general managing agent, for more than $500... Lawn Mower Is Not a Motor Vehicle, Georgia Court Rules A riding lawn mower may have four wheels, a powerful engine and can cost as much as a used car. If it's stolen, however, the Georgia... More Southeast News Texas / South Central Analysis: Despite Economy, Louisiana-Based Companies Growing Despite the complexities of the nation's worst economic downturn in decades, some Louisiana-based companies are showing surprising... More Texas / South Central News West Alaska Prison Guard Wins Workers' Comp Case The Alaska Supreme Court ruled a former prison guard at the Anchorage Jail deserves workers' compensation for the psychological problems he... Hawaii Flood Damage Worst in Hanalei The Hanalei community on Kauai was hit with 13 inches of rain in 24 hours last week, and bore the brunt of the storm's flood damage. County... Colorado Researchers Admit Missing Hurricane Prediction Colorado-based weather researchers say three hurricanes formed in the Atlantic this year, two fewer than they predicted before the season... AIG Hawaii Becomes Farmers Insurance AIG Hawaii Insurance Company, Inc. has announced that it is changing its name to Farmers Insurance Hawaii, Inc. – heralding in a new... The Buckner Company Acquires Flying J Insurance Services Salt Lake City-based The Buckner Co. has entered into a definitive agreement to purchase Flying J Insurance Services effective Jan. 1, 2010,... Island Insurance Offers EPLI Coverage Honolulu-based Island Insurance Co. Ltd. has launched its new Employment Practices Liability Insurance (EPLI) and Cover Choice products for... Momentous Launches Restaurant Insurance Specialty Practice Momentous Insurance Brokerage of Van Nuys, Calif., has launched a restaurant insurance specialty practice. Some of the risk management... More West News International Beazley Starts Trading through the Lloyd's Exchange Lloyd's and international insurer Beazley announced that underwriters placing business for the company now have access to the Lloyd’s... Marsh Launches Lottery and Gambling E&O Coverage Marsh's London office announced that it has launched a new errors and omissions (E&O) insurance product for the suppliers of lottery and... Aon, Chubb Warn Isle of Man Directors on Possible Coverage Gaps Aon and Chubb Corp. have advised Isle of Man directors that they "may need to go beyond simply complying with new Financial Services... Max Cap Appoints Kalainoff President- Reinsurance Operations The Bermuda-based Max Capital Group has appointed David Kalainoff as President of Reinsurance Operations. He joined Max in 2003, most... More International News Join the Insurance Journal Network Insurance Journal TV NAPSLO's Next Generation The insurance industry has taken a keen interest in finding future workers with the knowledge... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums A new type of Agency Management System Posted: Tue Nov 24 -- Thank you for the input guys. I am proposing a different model then what exists today. There will be two modules: Agency management and... edmundich Company Rating Structures Posted: Tue Nov 24 -- I think that this is what got Progressive in trouble with the FEDS when they had their... gregcw Healthcare Reform Posted: Tue Nov 24 -- What everyone seems to be talking about is INSURANCE reform - not HEALTH CARE reform. Big Difference. Insurance is not now - nor... Joatmon Sexual Harassment Posted: Mon Nov 23 -- Sexual harassment coverage is provided under the EPL policy (both defense & indemnity). If you would like help in placing this type of... TyieMoore Go to Forums

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