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CPCU e-LINK 		Conferment & IDay Nov 08
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Insurance News



 Hourly News Updates . . .

Kentucky's Arison Insurance Acquires Benefits Solutions
Louisville, Ky.-based insurance and benefits broker Arison Insurance Services, Inc. has acquired London, Ky. based insurance broker, Benefits Solutions, LLC. The acquisition creates Arison's ...
Ratings Recap: Skandia, Al Fajer Re
A.M. Best Co. has affirmed the financial strength rating of 'A '(Excellent) and issuer credit ratings of "a" of Sweden's Skandia Insurance Company Ltd. and Skandia Life Assurance Company Limited ...
Texas Mutual Successful on Appeal in Workers' Comp Bad Faith Case
A Houston Court of Appeals has dismissed a case involving workers' compensation benefits claim disputes with Texas Mutual Insurance Co. in a move that according to the insurer resolves ...
Foremost Insurance Group Launches Auto Program in New York
Foremost announces their DISTINCTCHOICE auto program in New York. Foremost's new auto program is designed with increased limits, deductible options and important coverages for drivers. The ...
Smith Named Missouri Insurance Agents' Person of the Year
Dennis Smith of Columbia, Mo., has been honored as the Missouri Association of Insurance Agents' Insurance Person of the Year. The award was given at MAIA's annual Leadership Conference on July ...
Neace Lukens Opens Dayton, Ohio, Office; Grows Construction Group
Louisville, Ky.-based insurance broker Neace Lukens has opened a new office in Dayton, Ohio. The new office consists of two full-time employees. Michael Ward joins as vice president of its ...
S&P Raises Arch Capital Group's Ratings to 'A-'; Outlook Stable
Standard & Poor's Ratings Services has raised its counterparty credit rating on Arch Capital Group Ltd. to 'A-' from 'BBB+'. S&P also raised its counterparty credit and financial strength ...
Japan Supertanker Probe Reveals Crash Impact
A Japanese supertanker, which triggered fears of an attack in the sensitive Strait of Hormuz oil shipping route, collided with something, possibly a submarine or mine, UAE port officials ...
Crews Work to Cap New Oil Leak Along Louisiana's Coast
Crews are working to cap a new oil leak in a Louisiana coastal inlet after a barge slammed into an abandoned well on July 27, sending a shower of water, natural gas and oil spewing about 100 into ...
Crosby to Head OneBeacon's New E&S Division
Massachusetts-based OneBeacon Insurance Group said it is launching a new E&S lines business and has appointed Dennis Crosby as president of the business, OneBeacon Excess and Surplus ...
Agent Gets 3 Years for Pocketing Premiums in New Jersey
A former Pennsylvania insurance agent has been sentenced to three years in prison for his role in scheme to steal hundreds of thousands of dollars in premiums, according to the New Jersey attorney ...
Survey: Public Opposes Allowing Policyholder Suits Against Insurers
A majority of Americans believe that laws allowing people to sue their own auto insurance company for punitive damages, in addition to receiving benefits for their insured claim losses, are not a ...
North Dakota Property Crime Rate Down, but Violent Crimes on Rise
Attorney General Wayne Stenehjem says North Dakota's crime rate dropped slightly last year, but the number of violent crimes rose. A new report provides North Dakota statistics for a number of ...
South Carolina Court Upholds $10 Million Award Against Bar, Owners
South Carolina liquor stores, bars and their owners may be liable for injuries caused by a patron they "knew or should have known" was intoxicated even if the customer does not appear drunk. The ...
Diette Joins Target Insurance Services
Connecticut-based managing general underwriter Target Insurance Services has named Mark Diette as senior vice president in charge of business development. Diette, who will also lead one of ...

 Business Insurance Breaking News

MetLife posts quarterly earnings of $1.5B
NEW YORK (Reuters)—MetLife Inc., the biggest U.S. life insurance company, posted a second-quarter profit of $1.53 billion, helped by investment gains.
New ACE Westchester president named
ROSWELL, Ga.—ACE Group of Cos. Ltd. on Thursday promoted Bruce Kessler to president of ACE Westchester.
Most employers to retain health care benefits: Study
While the vast majority of employers are rethinking their health benefits strategies in response to the passage of federal health care reform law, only a fraction are considering dropping benefits entirely, a survey by Fidelity Investments has revealed.
Rating of Arch's insurance, reinsurance units raised
NEW YORK—Standard & Poor's Corp. on Thursday raised its financial-strength rating of Arch Capital Group Ltd.'s insurance and reinsurance companies to A+ from A.
Everest Re net income declines 64%, new CEO named
HAMILTON, Bermuda—Everest Re Group Ltd. on Thursday reported net income of $134 million for the first half of 2010, down 64% from the prior-year period, and also named a new CEO.
SCOR second-quarter profit rises 32% on investments
PARIS (Bloomberg)—SCOR S.E., France’s largest reinsurer, said second-quarter profit rose 32% after increasing income from financial investments amid higher market volatility.
N.Y. to probe legality of benefit retention by insurers
ALBANY, N.Y. (Bloomberg)—The New York State Insurance Department plans to review the legality of an industry practice that directs death benefits to accounts managed by carriers on behalf of beneficiaries.
New insurance regulators oversee New Mexico, Hawaii
New Mexico and Hawaii have named new insurance leaders, with John G. Franchini taking the post in New Mexico and Gordon Ito moving into the job in Hawaii.
Willis posts higher first-half revenue, net income
NEW YORK—Willis Group Holdings P.L.C. reported higher revenues and net income for the first six months of 2010.
New Senate energy bill draws wide criticism
WASHINGTON (Reuters)—Republicans and some moderate Democrats in the U.S.
 Business Insurance Current Issue
Employers need social media rules
BARCELONA, Spain—Companies should develop a clear, written policy on the use of social networking sites to shield themselves from increasing liability related to the sites, a panel of legal experts said.
Securities litigation on the rise
Securities litigation rose sharply in the second quarter this year, reversing a first-quarter decline and returning to the trend of recent years, according to an analysis.
Health reform rules provide some clarity on claims issues
WASHINGTON—New health care reform regulations clarify how health care plans must handle disputed claims, but leave murky a key issue: how a new federal external claims review requirement will work.
Pension problems can sink merger plans
Pension funds are playing a more important role in companies' decisions on whether to proceed with mergers or acquisitions of Europe-based companies, experts say.
Pet owners hounded by coverage exclusions
When I adopted a 3-year-old Westie last year, I soon discovered that he was canis non grata among pet insurers.
Bid to add windstorm cover to NFIP remains up in the air
WASHINGTON—Legislation that would require the National Flood Insurance Program to offer windstorm as well as flood coverage is in limbo.
Class actions falter in Europe
European countries clearly are moving toward legal regimes that permit class action litigation but still are struggling with implementation problems, a panel of legal experts said.
English-only policies for workplaces have pitfalls
A new law in Tennessee that permits English-only policies in the workplace could signal a growing trend among businesses, but observers say there are hazards for employers that adopt such policies.
Workplace language policies need careful consideration
Employers considering an English-only policy in the workplace “need to be able to identify and explain what their business need is,” said Dennis Westlind, a partner with law firm Stoel & Rives L.L.P. in Portland, Ore.
Partisan divide jams legislative process
WHEN THE NATION'S unemployment rate remains in the 9.5% range, passing legislation to extend unemployment benefits for a few more months would seem to be a slam-dunk proposition.
Buyers must demand end to contingents
THE CONTROVERSY OVER contingent commissions among large insurance brokers continues, after last week's announcement by Aon Corp. that it will resume taking the payments.
Doctor drug dispensing pushes up comp costs
An increase in pharmaceuticals dispensing by doctors in several states is likely driving up workers compensation costs, experts say.
Broker faces contempt of court charge
LONDON—A U.K. High Court judge has refused a motion to stay contempt of court proceedings against a senior London market energy broker involved in a noncompete dispute between units of Marsh & McLennan Cos. Inc. and Aon Corp.
In Brief
President Barack Obama signed into law a comprehensive financial services regulatory reform measure that creates a Federal Insurance Office within the Treasury Department.
BI names best employers in industry
An in-depth evaluation has produced a list of 54 insurance industry companies to be recognized in this year's Business Insurance Best Places to Work in Insurance program.
P/C market remained soft through 2nd quarter: RIMS
The soft property/casualty insurance market continued through the second quarter of the year and there is no sign that the buyers' market will end anytime soon, according to a survey released last week by the Risk & Insurance Management Society Inc.
Aon goes back to taking contingents
CHICAGO—Aon Corp. last week ended its silence on whether it would collect contingent commissions, saying it would again accept the controversial payments in some cases.
Wholesale moves in-house
CHICAGO—Aon Corp. has taken its wholesale brokerage business in-house for placements into the London, Bermuda and Singapore markets.
AIG's $725M settlement raises concern about funding
COLUMBUS, Ohio—American International Group Inc.'s recent $725 million settlement reached with three Ohio pension plans resolves another legal distraction but has raised questions about the plans for funding the pact.
AIG names new head of AIA
NEW YORK—AIG has named a new head for its Asian unit, AIA Group Ltd., and reportedly has chosen three underwriting banks to arrange an initial public offering for the unit.
AIG workers comp policyholders can proceed with suit: Court
COLUMBIA, S.C.—American International Group Inc. policyholders can proceed with a lawsuit alleging that underreporting of workers compensation premiums by the insurer harmed them, South Carolina's Supreme Court has ruled.
Vuvuzela's buzz wears off in U.K.
Tottenham Hotspur and other British soccer clubs are banning the vuvuzela horns that provided the buzzing background noise at the World Cup in South Africa this summer citing safety reasons.
Check yourself before you wreck yourself
For employers worried about their workers being a bit too hasty to send an e-mail in the heat of the moment, there is a new product designed to give these employees pause.
Laser maker strikes back at movie mogul
A crossing of corporate swords of a kind has entered a new phase.
Stoudemire benched for lack of cover
The New York Knicks' new $100 million man, power forward Amar'e Stoudemire, can be an unstoppable force on the court, but a lack of insurance on his contract will keep him from competing in next month's FIBA World Championships.
Worker engagement drives safety efforts at Tenaska Inc.
Worker involvement is one of nine key elements that drive quality safety efforts at Tenaska Inc., says an executive with the Omaha, Neb.-based company that manages 17 power-generating plants.
Charting injury rates a catalyst to lowering them at Raytheon Co.
Each Raytheon Co. facility prominently displays a “safety performance chart” published quarterly to show how the site's injury rate ranks against others within the corporation.
Worker education, involvement key to eliminating injuries
Eliminating workplace injuries requires educating workers and enlisting their support to help mitigate hazards and prevent accidents, said Skipper Kendrick, a consultant and former president of the American Society of Safety Engineers.
Building a better safety incentive program
Instead of rewarding workers and departments that avoid industrial accidents with pizza parties and cash, experts say companies need to overhaul their incentive programs to create safer workplaces.
Brunswick health, safety program systematic, formalized
To reduce worker injuries, Brunswick Corp. adopted a systematic health and safety program coupled with formalized recognition of good behavior.
Products & Services
BOSTON—AIR Worldwide Corp.'
2010 Best Places to Work in Insurance
Schillerstrom
 Business Insurance Industry Focus

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