Thursday, October 31, 2013

Daily Headlines: Thursday, October 31, 2013

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Insurance Journal Daily Headlines
October 31, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Buffett Looking For Acquisitions as Berkshire's $40B Cash Pile Deemed 'Too Much'

Warren Buffett, who aims to have $20 billion in cash at his Berkshire Hathaway Inc., isn't investing fast enough to keep money from piling ...

Bolt Solutions Acquires Online Aggregator Superior Access (SAIS)

Bolt Solutions Inc., which provides property/casualty insurance online distribution and comparative rating platforms, has acquired Austin, ...

Safe, Happy Halloween From 'World's Leading Authority on Poisoned Candy'

I have a second, unpaid job. It's seasonal. Each year during the last two weeks of October, I field a lot of calls from reporters. You see, ...

Rusbuldt on McKinsey 4: Trusted Choice, CAP as Part of Agents' Internet Strategy

Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America - the Big "I"- takes issue with a McKinsey ...

ThinkRisk, Aspen Launch New Private, Non-Profit Management Liability Program

ThinkRisk Underwriting Agency, a division of RSG Underwriting Managers, LLC, and Aspen US Insurance have launched a new national management ...

From MyNewMarkets.com Markets-in-Motion: Sports & Entertainment Arenas

The 650,000 square foot Honda Event Center in Anaheim, Calif. holds thousands of people at any given time, creating the opportunity for many...
Carrier Management

S&P Ups XL Rating to A+; 3Q Earnings Fall on Large Losses

Standard & Poor's boosted the financial ratings of the operating subsidiaries of XL Group to A+ on Tuesday, providing...
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East

Wall Street Commuter Ferry Operator Settles Crash Claims

The owner of SeaStreak Wall Street, a commuter ferry that crashed in Manhattan's financial district on Jan. 9, has settled more than 45 ...

Virginia High Court Reverses Verdict in Virginia Tech Shootings

Virginia Tech University couldn't have foreseen the rampage of a lone gunman who initially shot two people to death and later killed 30 ...

Penn. Regulators Offer Advice on Insurance Coverage for Halloween Hazards

Soon, trick-or-treaters will hit the streets for Halloween. But with so many unpredictable elements at play, the chances of an accident or ...

Selective Insurance Q3 Profit Rises 79% to $33M

Selective Insurance Group of Branchville, N.J., reported Wednesday $32.653 net income for its 2013 third quarter, a 78.7 percent increase ...

Donegal Group's Q3 Profit Up 12% to $7.7M

Donegal Group Inc. of Marietta, Penn., reported on Oct. 25 net income of $7.654 million for its 2013 third quarter, an 11.9 percent ...

Many Sandy-Displaced N.J. Residents Dissatisfied With Insurers: Survey

A new survey of New Jersey residents who have been displaced from their homes because of Superstorm Sandy shows many of them are not happy ...

New Jersey Gov. Christie Helps Towns Mark Sandy Anniversary

On the anniversary of Superstorm Sandy, New Jersey Gov. Chris Christie toured the state Tuesday to celebrate New Jersey's progress in ...
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Midwest

United Ethanol Cited After Worker Dies in Wisconsin Corn Bin

United Ethanol LLC has been cited for 15 health and safety violations by the U.S. Department of Labor's Occupational Safety and Health ...

Keystone Insurers Group: Nicoud Insurance Is First Illinois Franchise Partner

Keystone Insurers Group has welcomed Springfield-based Nicoud Insurance Services as its first franchise partner in Illinois. The ...
Southeast

Tennessee DUI Results in Question After Firing

Thousands of driving under the influence ((DUI) results from across Tennessee may be in jeopardy after the firing a Tennessee Bureau of ...

Judge Weighs Alabama City's Case Over Police Officer's Facebook Posts

A Dothan, Alabama judge is considering whether city officials acted appropriately in upholding disciplinary action against a police officer ...
South Central

OSHA Fines Trucking Company $113K After Worker Fatality in Arkansas

Sherman Brothers Trucking Inc., doing business as Team Transport Inc., has been cited by the U.S. Department of Labor's Occupational Safety ...

Texas Mutual Pays $651K Dividend to CompGroup AGC

Texas Mutual Insurance Co. announced that the CompGroup AGC has earned a $651,166 workers' compensation dividend. The dividend is based ...

Flooding in Central, Southeast Texas Prompts Evacuations

A flash flood watch remains in effect for Central Texas counties today after torrential rains  - up to 14 inches reported in some areas - ...
West

California Lodge Owner Convicted Of Insurance Premium Fraud

Brookdale Lodge owner Sanjiv Kakkar, 52, was sentenced to 364 days in jail and three years of probation after pleading no contest for two ...

$167K Settlement in Nevada Apartment Discrimination

The owners and operators of a Reno, Nev. apartment complex have agreed to pay $167,000 to settle a housing discrimination lawsuit over ...

Oregon Mother Seeks $7.6M In Meatball Choking Death Lawsuit

The mother of a young Oregon girl who died after choking on a meatball at her preschool is seeking $7.6 million in a lawsuit against the ...

Alaskan Mayor Signs Local Disaster Declaration

Kenai Peninsula Borough Mayor Mike Navarre has signed a local disaster emergency declaration due to the unseasonably heavy rains that have ...

Washington City Braces For Increased Flood Risks

New information shows sediment buildup in the White River is increasing the flood danger faced by the city of Pacific, Wash. The King ...
International

Hyperion Insurance Head David Howden on U.S. Expansion by MGA DUAL

David Howden, the chief executive of the London-based Hyperion Insurance Group, founded the company in 1994, "as a business to take on ...

Zurich Insurance Says 'Confident' on Profitability Measure

Zurich Insurance Group AG, Switzerland's biggest insurer [3rd largest in Europe], said it is still "confident" its non-life unit can ...

Aon Benfield's Impact Forecasting Launches Riot Modeling Tool for Indonesia

Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced the launch of "its first tool to ...

Swiss Re Sees Emerging Market Construction Boosting Premiums

Swiss Re Ltd., the world's second-biggest reinsurer, estimates $43 trillion in infrastructure investments related to urbanization in ...

XL Group Posts $135.6 Million Q3 Net Income

The XL Group announced net income and operating net income of $135.6 million and $154.6 million, respectively, compared to net income and ...
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A World With or Without TRIA

Since the creation of the federal terrorism reinsurance program in 2002 until now the market...
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Aon Benfield's Adam Podlaha Explains Cat Models - and More

Insurance Journal's Charles Boyle interviewed three specialists from Aon Benfield's...

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New Discussions in the Forums

Travelers reducing commissions
Posted: Wed Oct 30 -- It's not an 8% cut, it's actually a 20% cut: 15% x .80 = 12%. Despite the cut,... gforaker
7 day insurance policy
Posted: Tue Oct 29 -- Justin, Unfortunately, that program is exclusive to LA Insurance. If you really want access to it, you could access it by becoming an LA... PiP
becoming appointed
Posted: Tue Oct 29 -- Try an Aggregator/Cluster group. By joining you get instant access to preferred markets, higher commissions and contingency opportunities... PiP
New Insurance Agency
Posted: Tue Oct 29 -- It is very difficult to get an appointment as a new agency...we were only able to do so because I was one of the top performing captive... Pathwayinsurance
It can happen to us too
Posted: Tue Oct 29 -- We also had a claim, not theft related but our water heater burst in our office causing much damage. We tell... Pathwayinsurance
Erie Insurance, feedback please.
Posted: Tue Oct 29 -- Hey guys, Thanks for the tips, advice, and feedback. I did speak with an Erie agent, he loves the company. But he only receives 10%... Pathwayinsurance
New Phone Line System Help
Posted: Mon Oct 28 -- As someone who has been on the traditional PBX system, to VOIP (to another VOIP) and then finally moved back to a traditional PBX. I was on... Smalltownagent
SCUBA Dive Shop
Posted: Thu Oct 24 -- If you're still having difficulty placing this account I would contact Bliss and Glennon. They helped me place several Yacht cleaners... Shagster121261

Reader Comments

Arkansas Judge OKs Class-Action Status in Marlboro Lights Suit
Posted: Thu Oct 24 -- Let me preface that I am an ex-smoker but still think that people have the right to smoke if they want. I am sick and tired of tobacco... WyomingAgent
Idaho Lawsuit Is Latest Claim Against Remington
Posted: Mon Oct 28 -- basic principle of firearm use/handling: never point it in any direction that might cause injury should it misfire. why would he have been... bob
Bipartisan Deal Reached to Delay Flood Insurance Premium Hikes: Waters
Posted: Mon Oct 28 -- I am still laughing. Where are all my capitalistic, market crazy Republican friends who should be insisting the rates be market rates, no... JohnS
Alabama Couple Sues Kentucky Motel Owners for $5M Over Illness
Posted: Mon Oct 28 -- Yet another blatant example of throwing a high number in the air in the hopes the motel's carrier will settle for less. How in the hell did... Scott
Insurance, Tax, Climate Groups Hit Possible Delay in Flood Insurance Changes
Posted: Mon Oct 28 -- Maybe the govt should stop sending out $25 billion yearly to other anti-American countries and use the funds to solidify the FEMA/NFIP... Earl Murphy

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New Markets Daily: Thursday, October 31, 2013

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October 31, 2013

Market Announcements

Firearm Importers

We represent multiple carriers for the Firearm and Ammunition Industry.
States: All states

Security Guards, Alarm Installers & Private Investigators

Zurich's expansive program offers coverage for armed and unarmed security guards, fire/burglar alarm installation and monitoring, and...
States: All states

Haunted Houses, Corn Mazes, Amusement Centers/Gaming Operations

Accident Insurance, Automobile, Employment Practices Liability, General and Umbrella Liability, Identity Theft, Liquor Liability, Professional...
States: All states

Above & Underground Storage Tank Owners

Pollution Liability, Environmental Liability, Pollution
States: AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, ID, IL, LA, MA, MD, ME, MI, MN, MO, MT, NC, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, VT, WA, WI, WV, WY

Motorcycle

We are proud to have had the same book of business since 1969.Online ratingWe are one the largest writers of Motorcycle Insurance in...
States: IL, IN, KY, OH, TN

Aon eSolutions - iVOS

iVOS offers comprehensive claims management capabilities with advanced automation and rules-based workflow to enhance efficiency and service. Aon eSolutions also offers medical bill review, policy administration, risk and safety management software solutions.

Feature Articles

Markets-in-Motion: Sports & Entertainment Arenas

The 650,000 square foot Honda Event Center in Anaheim, Calif. holds thousands of people at any given time, creating the opportunity for many... Read more

Q&A: Why Carrier Product Technology is an Indicator of Organizational Culture, Priorities

The perception that the insurance industry does not embrace or utilize technology as efficiently as it could is simply not true, says Craig... Read more

Aon Benfield: U.S. Homeowners Insurance Offers Growth Opportunities

A new report from Aon Benfield, a reinsurance intermediary and capital advisor of Aon plc, says U.S. homeowners insurance is showing... Read more

Latest Forums

Household Goods Movers in California

Does anyone know who has the Household Goods Movers' program ? 7Units and 7 trailers ,current carrier is hiking up renewal premium.We...
by paul lim on Wed Oct 30, 2013

Husbandry services for merchant marine vessels

7 Autos. Need 500 csl. No PD. Non-renewing from LUI (MGA no longer writes program(Garaging Zip 11106 Carriers Declined: Liberty Direct,...
by russarmny on Wed Oct 30, 2013

Need liability coverage for commercial motorcycles - CA

I need to place 2 bikes registered to a corporation. Any leads would be greatly appreciated
by edmundich on Tue Oct 29, 2013

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Is Technology a Gimmick?

Thursday, November 7
10:30AM PT / 1:30PM ET
45 minute webinar + Q&A
Instructed by: Trent Massey

Can technology fix all problems? Or, is the industry forgetting one of the most important aspects in claims processing - the human component?

Learn more about this webinar »

This webinar asks the question "has the industry's apparent push for technology above other priorities made technology a gimmick?"
  • What recent audit results of property claim files reveal about technology's weakness
  • How technology is potentially dumbing down adjusters and putting more of the claim load (and profits) on outside vendors
  • What important tasks technology cannot do for property adjusters and managers
  • How technology can leave people behind, including customers and employees
Join us for this live class Thursday, November 7 - Register today!

 



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