Tuesday, December 21, 2010

Breaking News: The Hartford Selling Third Party Claims Unit for $278M

Insurance Journal Breaking News
December 21, 2010

Breaking News Alert

The Hartford Selling Third Party Claims Unit for $278M

The Hartford said it has inked a $278 million deal to sell its third-party claims administration business, Specialty Risk Services (SRS), to Sedgwick Claims Management Services Inc.

The Hartford said the deal is expected to close in the first quarter, and will give the insurer capital gains of approximately $150 million, after taxes.

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Copyright © 2010 by Wells Publishing, Inc.

Monday, December 20, 2010

Weekly Reader Picks: Monday, December 20, 2010

Sponsored by: Sparta Insurance. We put our leaders on the front lines. Learn how our leaders will work for you. Click here for more information.
Insurance Journal Weekly Reader Picks
December 20, 2010

Top 10 for the Past Week

1.Obamacare Individual Mandate Found Unconstitutional by Federal Judge in Virginia
NATIONAL Dec 13, 2010 -- A U.S. judge in Virginia Monday declared a key part of President Barack Obama's landmark healthcare law unconstitutional in the first major setback on an issue that will likely end up at the Supreme Court. U.S. District Judge Henry Hudson, appointed to the bench by ...
2.Do Today's Entry Level Employees Lack Professionalism?
NATIONAL Dec 15, 2010 -- Students aren't making the grade as professionals in the workplace, according to an annual survey on the state of professionalism among young workers. In 2009, 37.3 percent of corporate leaders felt that less than half of all new graduates exhibited professionalism in ...
3.Dec. 15 Most Dangerous Day for California Drivers
WEST Dec 14, 2010 -- More Californians crash their cars on December 15 than any other day of the year, according to an Allstate Insurance Co. review of its California auto insurance claims over the past four years. The number of accident claims on December 15 jumps 23 percent compared to the ...
4.Insurer Launches Ad Campaign Within Facebook Game 'Car Town'
NATIONAL Dec 15, 2010 -- Building its brand messages directly into the game play of the popular social game Car Town – the only game on Facebook built around licensed automotive brands –State Farm today launched a six-month advertising campaign that lets players earn bonuses of ...
5.Person Leaving Keys in Car May Be Liable, Tennessee Court Rules
SOUTHEAST Dec 13, 2010 -- A Tennessee court has ruled that a person who leaves keys in a car can be held responsible if the car is stolen and then involved in a crash. The Tennessee Court of Appeals-- in a case involving a stolen car, a police chase and a wreck in Murfreesboro in 2007-- agreed ...
6.Exclusive
Travelers Ordered to Pay $445M for Asbestos Settlements
NATIONAL Dec 17, 2010 -- A bankruptcy court judge has ordered Travelers to pay at least $445 million into claims funds set up by a 2004 asbestos settlement. The funds were set up to resolve a number claims brought in state courts over asbestos liability for the Johns Manville Corp., a major ...
7.New Jersey Court: Mauled Dog's Owner Can't Get Damages
EAST Dec 13, 2010 -- Pet owners who witness their animals being killed by another creature cannot seek damages for emotional distress, a New Jersey appellate court has ruled. The decision issued Friday came in the case of a woman whose small dog was mauled to death in Morris County in June ...
8.Personal Internet Use Becoming Part of Employee Record
NATIONAL Dec 9, 2010 -- Those photos on Facebook showing you palling around with drunks, the raunchy joke you posted on Twitter, and those links to politically incorrect groups on your personal Web site —all of this information can now become part of your job application and employment ...
9.AIG Logo Returns to ID Cards as Security Concerns Lessen
NATIONAL Dec 13, 2010 -- Bailed-out insurer American International Group Inc. took another step in its restructuring this week, but it is only noticeable to those looking closely: it put the company's logo back on employee identification cards. After its Sept. 2008 government rescue, AIG ...
10.Insurer Covering Baby's Surgery After Indiana Medicaid Denial
MIDWEST Dec 13, 2010 -- An Indiana infant born with a rare condition that likely would kill him by age 2 will receive a shot at a normal life after an insurance company said it will pay for an experimental procedure that the state's Medicaid program refused to cover. Seth Petreikis was born ...

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Tuesday, December 14, 2010

The Real Effects of Granting Additional Insured Status

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Insurance Journal's Academy of Insurance

The Real Effects of Granting Additional Insured Status

An all-new online class this Thursday, December 16.

Does naming an additional insured reduce the limits of coverage available or in any other way negatively affect the named insured's protection? Find out the answer and explore the details in this all new one-hour webcast.

Join us live on Thursday for this training, followed by a Q&A with the course instructor, Christopher J. Boggs.

Remember that each session will be recorded so you won't miss any of the content.

Register Now
Join us on Thursday, December 16
starts at 10:30am PT / 1:30pm ET

Meet the Instructor:

Chris Boggs
Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS is the Director of the Academy of Insurance at Insurance Journal.

Chris has a unique ability to break things down and make complex insurance issues easy to understand.

Chris has authored three books, "Property and Casualty Insurance Concepts Simplified", "Business Income Insurance Demystified", and "The Practical Guide to Workers' Compensation" (these books are available here).

Student Feedback:

"What a wonderful class you just presented. You are a wealth of knowledge, on point, concise and have great examples to share. You made it easy to understand the material. I sincerely enjoyed listening to you and actually feel like I am walking away with the knowledge that I signed up for. I hope to take additional classes from you in the future."

When you register, you get:

  • Access to the live class on Thursday, December 16
  • Question & Answer session with the instructor
  • Recording of the webcast, so you can watch again
  • Audio download of the webcast
  • Presentation slides download

Register today! Use promo code 25OFF to save $25

Any Questions?

If you need help or would like to submit a question to the instructors before the webcast, send an email to webcasts@insurancejournal.com.

Join us tomorrow, Wednesday, December 15:

Preston Diamond
Employers are ignoring their workers' comp coverage simply because rates have fallen so far. Agents, too, are ignoring the coverage - leaving a huge opening for you to expose the neglect.
Learn more and reserve your seat today!

Bestsellers (available on-demand to watch at your convenience):

Your promo code (25OFF) will work on these bestsellers!

Popular Strategic Agency Planning for 2011 - Get your agency prepared for 2011 with this info-packed one hour training.
Insuring Condominiums - Learn the key issues regarding the insuring of condominiums.
Understanding Commercial Property Underwriting and "COPE" - Anyone writing property insurance will benefit from this class.


Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2010 by Wells Publishing, Inc.

Monday, December 13, 2010

Breaking News: Obamacare Individual Mandate Found Unconstitutional

Insurance Journal Breaking News
December 13, 2010

Breaking News Alert

Obamacare Individual Mandate Found Unconstitutional by Federal Judge in Virginia

A U.S. judge in Virginia Monday invalidated a key part of the landmark healthcare law that requires individuals to buy health insurance, the first major setback for President Barack Obama on an issue that will likely end up at the Supreme Court.

U.S. District Judge Henry Hudson, appointed to the bench by President George W. Bush in 2002, backed arguments by the state of Virginia that Congress exceeded its authority by requiring that individuals buy health insurance or face a fine.

Read the full story

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3570 Camino del Rio North, Suite 200
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Copyright © 2010 by Wells Publishing, Inc.

Use Workers' Comp to Stand Out from the Crowd

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Insurance Journal's Academy of Insurance

Use Workers' Compensation to Stand Out from the Crowd

An all-new class this Wednesday December 15. Space is limited.

Employers are ignoring their workers' comp coverage simply because rates have fallen so far. Agents, too, are ignoring the coverage - leaving a huge opening for you to expose the neglect.

If your competition isn't standing guard over their insured's workers' compensation program, you have a wide open door to walk in and gain a new client.

Participants in this training session will learn:

  • Why workers' comp is the BEST way to lead in to accounts.
  • How to use Workers' Comp to score the entire account.
  • What the story of one of America's most successful companies can teach you about workers' comp in the mid-market.

Register today! Use promo code 25OFF to save $25

Meet the Instructor:

Preston Diamond
In addition to more than 50 years of insurance experience,
Preston Diamond taught insurance at a California Community College, chaired a week long insurance agency management school for 6 years, presented more than 300 times at seminars and workshops and has consulted with more than 450 insurance agencies nationwide.

When you register, you get:

  • Access to the live class on Wednesday, December 15
  • Question & Answer session with the instructor
  • Recording of the webcast, so you can watch again
  • Audio download of the webcast
  • Presentation slides download

Register today! Use promo code 25OFF to save $25

Class overview:

Employers are ignoring their workers' comp coverage simply because rates have fallen so far. Agents, too, are ignoring the coverage - leaving a huge opening for you to expose the neglect.

The challenge: employers and agents think that, "comp is comp is comp;" Exposing this incorrect presumption is a powerful tool in selling workers' compensation.

If your competition isn't standing guard over their insured's workers' compensation program, you have a wide open door to walk in and gain a new client.

Likewise, if you are not properly watching out for your client's work comp program - you are leaving the door open for another agent who will.

Register Now
Join us on Wednesday, December 15
starts at 10:30am PDT / 1:30pm EDT

Any Questions?

If you need help or would like to submit a question to the instructors before the webcast, send an email to webcasts@insurancejournal.com.

New This Week:

The Real Effects of Granting Additional Insured Status (December 16) Does naming an additional insured (or several) reduce the limits of coverage available to the named insured or in any other way negatively affect the named insured's protection? The answer may surprise you.

Bestsellers (available on-demand to watch at your convenience):

Your promo code (25OFF) will work on these bestsellers!

Popular Strategic Agency Planning for 2011 - Get your agency prepared for 2011 with this info-packed one hour training.
Insuring Condominiums - Learn the key issues regarding the insuring of condominiums
Understanding Commercial Property Underwriting and "COPE" - Anyone writing property insurance will benefit from this class.


Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2010 by Wells Publishing, Inc.

Weekly Reader Picks: Monday, December 13, 2010

Sponsored today by: Travelers. The team gets a new stadium. Your client gets to take on all the risk. Learn more about Travelers insurance for the construction industry..
Insurance Journal Weekly Reader Picks
December 13, 2010

Top 10 for the Past Week

1.Personal Internet Use Becoming Part of Employee Record
NATIONAL Dec 9, 2010 -- Those photos on Facebook showing you palling around with drunks, the raunchy joke you posted on Twitter, and those links to politically incorrect groups on your personal Web site —all of this information can now become part of your job application and employment ...
2.Amish Expansion Prompts Culture Clash in Roofing
EAST Dec 6, 2010 -- Main Line roofers say they are taking it on the chin from Amish competitors, who are getting a significant amount of work in Philadelphia's wealthy western suburbs. Keith McLean, a Paoli roofing contractor, said he lost a job this month when his bid of $8,000 was $3,000 ...
3.Is Your Boss Guilty of Any of the Seven Deadly Sins?
NATIONAL Dec 3, 2010 -- Employees say their bosses are guilty of the "Seven Deadly Sins," especially laziness and pride, and their sins are having negative effects on employees' productivity and health. In recent years, the American workplace has been infused with high levels of hostility, claim
4.Two Charged in 6-Year Fraud Scheme Against Insurance Agent Group, MDRT
NATIONAL Dec 6, 2010 -- Bond has been set at $1 million for two Illinois men charged with bilking an insurance industry association out of more than $1 million in a scheme that spanned six years, officials said. The allegations involve an information technology manager and an accomplice who ...
5.Independent Agency Population Holds Steady as Start-Ups Keep Pace with Mergers
NATIONAL Dec 7, 2010 -- The total number of independent agencies in the country remains stable at around 37,500 as start-ups have kept pace with agency mergers and closings, according to a new study of agencies. There are today as many agencies as there were in 2006. Approximately 11 percent or ...
6.The Hartford to Offer Program to American Kennel Club Dog Owners
NATIONAL Dec 8, 2010 -- The Hartford Financial Services Group, Inc. has launched a program that will offer auto and home insurance to American Kennel Club (AKC) dog owners. Through this alliance, the company will also become the exclusive insurance sponsor of the AKC Canine Good Citizen (CGC) ...
7.Merger, Acquisition Activity Heats Up
NATIONAL Dec 10, 2010 -- Merger and acquisition (M&A) activity between July and September was robust making the third quarter the most active with 61 deals versus 36 last year. Deal volume for the first nine months is up 28 percent from the same 2009 period. Year-to-date, 167 transactions ...
8.Mississippi State Football Game Victim of Cowbell Assault Sues
SOUTHEAST Dec 6, 2010 -- A man involved in an incident last year in which he was hit with a cowbell at a Mississippi State football game has sued his alleged attacker and the Southeastern Conference. Records in Oktibbeha County Circuit Court show William Matthew Brasher filed a civil lawsuit ...
9.P/C Insurers, Reinsurers Put Positive Spin on Federal Regulatory Role
NATIONAL Dec 6, 2010 -- The federal government's new role in insurance regulation poses significant challenges and opportunities for the insurance industry, according to insurer trade group executives. The establishment of the Federal Insurance Office (FIO) is one of the few provisions under ...
10.Judge Orders $15M to Indiana Crash Victim's Family
MIDWEST Dec 10, 2010 -- A federal judge has awarded $15 million to the family of one of four people killed in a 2005 crash on the Indiana Toll Road caused by a truck driver. District Judge Theresa Springmann found Net Trucking of Burbank, Ill., was negligent by letting Stanislaw Gil drive more ...

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3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2010 by Wells Publishing, Inc.

Friday, December 10, 2010

Daily Headlines: Friday, December 10, 2010

Claims Journal Daily Headlines
December 10, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West

Today's Headlines

National

S&P: U.S. Personal Lines Insurance Sector Outlook Revised To Stable

Rates for the personal lines insurance sector continue to see improvements, according to a new report. While pricing for the U.S. commercial...

U.S. Employees Use Nearly Three Weeks of Sick Time

U.S. workers took an average of 14 sick days in 2007 due to their own illness or injury, or to care for a sick child or other family member,...

Ratings Recap: State Auto National, Mountain West Farm Bureau

Standard & Poor's Ratings Services has placed its 'A-' counterparty credit and financial strength ratings on State Auto National...
New Class: The Real Effects of Granting Additional Insured Status -- Register Now
East

Feds Helping Investigate Major Baltimore Fire

The head of a U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives investigative team says the origin of a blaze in Baltimore's adult...

Wood Stove Fire Leads to $100K in Damage to Delaware House

Fire officials say a blaze has caused $100,000 in damage to a house in Delaware City, Delaware. The fire was reported about 12:30 p.m....

Connecticut Says Tougher Teen Driving Rules Save Lives

State officials say Connecticut's tough new restrictions on teenage drivers are saving lives. There were six fatal crashes involving 16- and...

Upstate New York Woman Admits to Insurance Fraud

A New York woman who was seriously injured after crashing her car into an unoccupied house Upstate New York admitted she lied about the...

Petit Named Claims Director for IWIF

Melinda Petit has been promoted to director of claims operations for IWIF Workers' Compensation Insurance. She will oversee management of...
Midwest

Judge Orders $15M to Indiana Crash Victim's Family

A federal judge has awarded $15 million to the family of one of four people killed in a 2005 crash on the Indiana Toll Road caused by a...

Oil Field Company in North Dakota Destroyed by Fire

An oil field service company in Minot has been destroyed by fire. No injuries were reported in the blaze at Folter Energy late on Dec....

Illinois Program to Provide $5M in Loans for Small Businesses

New and existing small businesses can apply for $5 million in loans through an Illinois program aimed at creating and retaining jobs in...
Southeast

North Carolina Woman Charged with False Oil Spill Claim

Federal prosecutors have charged a North Carolina woman with filing fraudulent claims for relief from the BP oil spill by stealing the...

Geiger Named Loss Control Manager at Sunz

Florida-based Sunz Insurance Co. has named David Geiger as loss control manager. The 20-year industry veteran will develop safety programs,...
Sponsored by: National Association of Catastrophe Adjusters. Start your engines! Register now for the 2011 NACA Convention 'Pulling Away From the Competition', January 10-13, in Daytona Beach, Florida. Click here for more info.
Texas / South Central

Green Industry Group Nears $3M Texas Mutual Dividend Mark

Texas Mutual Insurance Co. announced a $195,811 dividend to the Texas Green Industry (TGI) purchasing group, pushing that group's total...

Silo at Tyson Feed Mill in SW Arkansas Collapses

A Tyson Foods worker was missing after the collapse of a Tyson feed mill in southwestern Arkansas. The Arkansas Democrat-Gazette reports the...
West

Calif. Insurance Broker Arrested for Elder Theft

The California Department of Insurance announced that Paul Edward Broussard of Inglewood, Calif., has been arrested on one felony count of...
International

Ratings Roundup: Dongbu, Afianzadora, BNY Trade, Unive Her

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of South Korea's Dongbu...

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(800) 897-9965
Copyright © 2010 by Wells Publishing, Inc.

Daily Headlines: Friday, December 10, 2010

Sponsored by: Applied Underwriters. Big Change is Blowing Through California. Smaller Rates From Applied Underwriters. Click here for more information.
Insurance Journal Daily Headlines
December 10, 2010
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

S&P: U.S. Personal Lines Insurance Sector Outlook Revised To Stable

Rates for the personal lines insurance sector continue to see improvements, according to a new report. While pricing for the U.S. commercial...

R-T Specialty Acquires Oakbridge Insurance Services

The wholesale brokerage unit of Pat Ryan's Ryan Specialty Group LLC, has acquired one of the nation's largest executive and professional...

Merger, Acquisition Activity Heats Up

Merger and acquisition (M&A) activity between July and September was robust making the third quarter the most active with 61 deals...

Ratings Recap: State Auto National, Mountain West Farm Bureau

Standard & Poor's Ratings Services has placed its 'A-' counterparty credit and financial strength ratings on State Auto National...

U.S. Life/Health Sector's Premiums Rise 2.6%; First Increase Since 2008

U.S. life/health industry's nine-month net premiums written rose 2.6 percent to $424.2 billion, reflecting the first increase since year-end...

Zurich North America Names Several Appointments in Surety

Zurich's North America made several key appointments to its specialty lines Surety unit. The insurer promoted Michael Bond to head of...

From MyNewMarkets.com Lexington Focuses on New Products, Creativity, to Get Through Soft Market

Creativity, innovation and product diversification are keys to a company's success in this soft market, says Matthew Powers, executive vice...
New Class: The Real Effects of Granting Additional Insured Status -- Register Now
East

Connecticut Says Tougher Teen Driving Rules Save Lives

State officials say Connecticut's tough new restrictions on teenage drivers are saving lives. There were six fatal crashes involving 16- and...

Charges Added for Former New Jersey School Superintendent and Broker

The government has added more charges in the bribery case against a former New Jersey school superintendent and an insurance broker. In a...

Petit Named Claims Director for IWIF

Melinda Petit has been promoted to director of claims operations for IWIF Workers' Compensation Insurance. She will oversee management of...
Midwest

Judge Orders $15M to Indiana Crash Victim's Family

A federal judge has awarded $15 million to the family of one of four people killed in a 2005 crash on the Indiana Toll Road caused by a...

Coalition Calls for $60M for Iowa Flood Prevention

A coalition of lawmakers, local officials, farmers and business people are calling on Iowa to invest $60 million to prevent flood damage and...

Illinois Program to Provide $5M in Loans for Small Businesses

New and existing small businesses can apply for $5 million in loans through an Illinois program aimed at creating and retaining jobs in...
Stay Informed, subscribe to ClaimsJournal.com's Free Newsletters! Click here for more information.
Southeast

Geiger Named Loss Control Manager at Sunz

Florida-based Sunz Insurance Co. has named David Geiger as loss control manager. The 20-year industry veteran will develop safety programs,...

Alexander Named Underwriting Manager at N-Surance

Georgia-based N-Surance Outlets has named Gary Alexander as underwriting manager. Alexander will oversee all underwriting activities for the...
Texas / South Central

Arkansas Lawmakers Propose Banning Health Insurance Mandate

Legislation filed by a pair of Republican lawmakers in Arkansas proposes blocking a portion of the health care overhaul that requires people...

Louisiana Inmate Charged with Insurance Fraud, Felony Theft

A man already convicted for a previous criminal offense in Louisiana has additionally been charged with insurance fraud and felony...
West

Calif. State Fund Consolidating Business Operations

California State Compensation Insurance Fund, the state's largest provider of workers' compensation insurance, announced it is consolidating...

Mercury Insurance Cuts Calif. Auto Rates About 10%

Mercury Insurance announced a $72-million rate reduction for California drivers that includes a rate decrease that could reach up to 10% or...

Brown & Riding, Alexander, Morford & Woo Merge

Privately-owned wholesale insurance firms, Brown & Riding of Los Angeles and Alexander, Morford & Woo of Seattle have announced that...

Heffernan Insurance Brokers Adds Two to Employee Benefits Team

Heffernan Insurance Brokers has added Chris Nussbaum and Paul Martinez as assistant vice presidents and employee benefits...

Willis of Colorado Appoints Anderson Senior VP for Construction

Willis of Colorado Inc.'s Construction Unit in Denver has appointed Stephanie Anderson has been appointed senior vice president. Anderson...
Book Cover
Workers' Comp Book
In The Insurance Professional's Practical Guide to Workers' Compensation, Chris Boggs addresses in clear, jargon-free English many of the concepts, policies and practices in workers compensation that brokers, risk advisors, and corporate risk managers need to know. learn more
International

UK Pet Costs: Average Around $532, but Dachshunds are $858

A research study by Sainsbury's Finance reveals some interesting facts about costs and coverage for pets in the UK. While the "average claim...

UK Online Insurance Buyer Survey Finds Wigan Residents #1 Users

A new poll from price comparison website comparethemarket.com. found that the city of Wigan, in Lancashire, northeast of Liverpool, is...

Markel International Appoints 2 New Underwriters to UK Retail Division

Markel International, the specialty property and casualty insurer, announced that it has strengthened its retail division, Markel (UK)...

Ratings Roundup: Dongbu, Afianzadora, BNY Trade, Unive Her

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of South Korea's Dongbu...
Insurance Journal Blogs

Planning to win in 2011

The end of 2010 is fast approaching, good luck, good health, and good fortune to all of you in 2011. Sales managers and principals; By now,...

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New Discussions in the Forums

single security guard worker's comp
Posted: Fri Dec 10 -- Is there a reason he can't be paid on a W2 and be an employee of the laundromat? He would be automatically covered under existing comp. If... waltmarkers
Encompass VS. Kemper
Posted: Thu Dec 9 -- Do you have a comparative rater, JAM? Might wanna try plugging the carriers in and finding out. U-Kemp is gonna wanna see that you have at... KPIA
Pay As You Go rating
Posted: Thu Dec 9 -- I'm sure that these insurance companies actuaries have all of the evidence that you need and then some. Plus, this is a free country where... alx730
2011 Outlook: U.S. Property/Casualty Insurance
Posted: Thu Dec 9 -- Never mind. They got the file up, the link in the story works now. 8)
Done with CPCU 510 & 540, which one next???
Posted: Wed Dec 8 -- I just completed the CPCU 520 exam. I personally felt that it was the hardest one I had taken to date. I have already taken 510,553,540,560.... mhw182

Current Issue

Current Issue
Program Directory, Vol. II
December 6, 2010

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San Diego, CA 92108
(800) 897-9965
Copyright © 2010 by Wells Publishing, Inc.