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Today’s Insurance News
Source: Insurance Journal
Mississippi Regulator Reviewing 3.2% Workers’ Compensation Rate Cut
- October 20, 2014, 12:29 pm

Employers in Mississippi could be paying less for workers’ compensation insurance as early as next March, pending approval of a rate filing at the Mississippi Insurance Department. The National Council on Compensation Insurance (NCCI) has filed an average 3.2 percent …

The article Mississippi Regulator Reviewing 3.2% Workers’ Compensation Rate Cut appeared first on Insurance Journal.

Berkley FinSecure Forms Berkley Crime Unit
- October 20, 2014, 12:00 pm

Berkley FinSecure, a W .R. Berkley company based in Towson, Md., has launched Berkley Crime, an operating unit focused solely on offering  crime-related insurance products. The crime underwriting team of Berkley FinSecure, which was originally established in 2008 as part …

The article Berkley FinSecure Forms Berkley Crime Unit appeared first on Insurance Journal.

Swiss Re Offers Food, Drink Protection for UK, Ireland, Italy
- October 20, 2014, 12:00 pm

Swiss Re Corporate Solutions has partnered with UK-based crisis management consultancy The RQA Group to launch comprehensive Contaminated Products Insurance for the food and drink industry in the United Kingdom, Ireland and Italy. The cover offers protection in both the …

The article Swiss Re Offers Food, Drink Protection for UK, Ireland, Italy appeared first on Insurance Journal.

ACE Nordics Promotes Engdahl, Adds Christensen in Financial Lines
Lisa Howard - October 20, 2014, 12:00 pm

ACE Group announced a promotion and a new appointment in its Nordic financial lines insurance team. Kristina Engdahl has been promoted to the role of financial lines manager, Nordics. Engdahl will be responsible for the performance of ACE’s financial lines portfolio …

The article ACE Nordics Promotes Engdahl, Adds Christensen in Financial Lines appeared first on Insurance Journal.

Appeals Court Upholds Prison Term for Gulf Oil Spill Claims Fraud
- October 20, 2014, 10:35 am

A federal appeals court has upheld the fraud conviction of man who pretended to be a shrimp-boat captain and alleged he lost his livelihood to collect oil spill recovery money. A three-judge panel of the 5th U.S. Court of Appeals …

The article Appeals Court Upholds Prison Term for Gulf Oil Spill Claims Fraud appeared first on Insurance Journal.

NAS Insurance Services Introduces Regulatory Business Interruption Ebola Coverage
- October 20, 2014, 10:00 am

Encino, Calif.-based NAS Insurance Services, a full-service specialty insurance underwriting manager, has partnered with Prospect Insurance Brokers Ltd. and Ark Specialty Programs of Lloyd’s of London to launch an insurance program for businesses facing the threat of Ebola-related closure. Regulatory …

The article NAS Insurance Services Introduces Regulatory Business Interruption Ebola Coverage appeared first on Insurance Journal.

South Carolina Jury Awards $97 Million in Mayor’s Shooting
- October 20, 2014, 9:30 am

A federal jury in Charleston has awarded the family of the former mayor of Cottageville $97 million for his shooting death. The jury reached the decision in the negligence and wrongful death suit filed by the family of Burt Reeves. …

The article South Carolina Jury Awards $97 Million in Mayor’s Shooting appeared first on Insurance Journal.

AIG Ex-CEO Liddy Defends Closeness with Government During Bailout
- October 19, 2014, 11:20 pm

Former American International Group Inc. Chief Executive Officer Edward Liddy defended his decision to work closely with the government at the time of the company’s 2008 bailout, saying he hoped to win concessions on the harsh terms of an $85 …

The article AIG Ex-CEO Liddy Defends Closeness with Government During Bailout appeared first on Insurance Journal.

Bermuda Recovering from Hurricane Gonzalo Property Damage, Power Outages
- October 19, 2014, 11:11 pm

Hurricane Gonzalo scored a direct hit on Bermuda Friday night into Saturday morning, pummeling the tiny island chain with rain and howling winds that downed trees and knocked out power but spared it catastrophic damage or death. Much of the …

The article Bermuda Recovering from Hurricane Gonzalo Property Damage, Power Outages appeared first on Insurance Journal.

Pennsylvania Agrees to $200M Settlement in Medical Malpractice Fund Case
- October 17, 2014, 9:57 pm

Health care providers will be getting $200 million from the state of Pennsylvania in a settlement announced Thursday over litigation about a massive fund set up to help doctors pay malpractice insurance premiums. Gov. Tom Corbett’s administration said the state …

The article Pennsylvania Agrees to $200M Settlement in Medical Malpractice Fund Case appeared first on Insurance Journal.

DCRB Seeks Decrease in Del. WC Voluntary Loss Costs, Residual Market Rates
- October 17, 2014, 7:32 pm

The Delaware Department of Insurance said it has received the Delaware Compensation Rating Bureau’s (DCRB) filing proposing a decrease in both the workers’ compensation voluntary market loss costs and the residual market rates for 2015. DCRB’s filing No. 1404 proposes …

The article DCRB Seeks Decrease in Del. WC Voluntary Loss Costs, Residual Market Rates appeared first on Insurance Journal.

Large Agencies More Optimistic About Future Growth: Vertafore Study
- October 17, 2014, 5:09 pm

Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts, according to a new industry study. Some 70 percent …

The article Large Agencies More Optimistic About Future Growth: Vertafore Study appeared first on Insurance Journal.

Maryland County Eyes Doubling Fines for Passing School Buses
- October 17, 2014, 4:59 pm

Police have issued tickets to 730 drivers for passing stopped school buses in Maryland’s Montgomery County in the past nine months. Police say that number is way too high. In Maryland’s Washington County, just over 100 tickets were issued during …

The article Maryland County Eyes Doubling Fines for Passing School Buses appeared first on Insurance Journal.

Massachusetts AG Coakley Proposes Council to Study Safety Threats
- October 17, 2014, 4:54 pm

Massachusetts Attorney General Martha Coakley says if elected governor she’ll tap two former Democratic rivals to head a new council to study emergency preparedness in Massachusetts. Coakley announced Wednesday that she has asked Don Berwick and Juliette Kayyem to lead …

The article Massachusetts AG Coakley Proposes Council to Study Safety Threats appeared first on Insurance Journal.

A Few Thoughts for Insurance Entrepreneurs
Stephanie K. Jones - October 17, 2014, 4:44 pm

Managerial flexiblity, effective communication, selecting and placing employees wisely, customer care and reputational risk are some of the factors would-be entrepreneurs need to consider when contemplating running their own businesses, according to one insurance executive with the work history to support his …

The article A Few Thoughts for Insurance Entrepreneurs appeared first on Insurance Journal.

Penn. Dept. of Transportation Target of Civil Suit in Fatal Crash
- October 17, 2014, 4:34 pm

Pennsylvania Department of Transportation (PennDOT) is defending itself from a civil suit alleging it is partly at fault for a car crash that killed a 15-year-old girl in northeastern Pennsylvania. The Citizens’ Voice of Wilkes-Barre, Pennsylvania, reports that a Luzerne …

The article Penn. Dept. of Transportation Target of Civil Suit in Fatal Crash appeared first on Insurance Journal.

The Pitfalls of Rejecting a Defense Under Texas ‘Same Facts’ Test
Steven Plitt - October 17, 2014, 4:25 pm

Texas law recognizes that an insurer’s reservation of rights can create a potential conflict of interest. Northern County Mut. Ins. Co. v. Davalos, 140 S.W.3d 685 (Tex. 2004). Although there is a potential for conflict in this situation, the assertion of …

The article The Pitfalls of Rejecting a Defense Under Texas ‘Same Facts’ Test appeared first on Insurance Journal.

Bus Passengers File Suit over Crash Near Indianapolis
- October 17, 2014, 4:18 pm

Four people who were on board a double-decker passenger bus that crashed near Indianapolis, Ind., are suing the bus company. The Chicago residents filed the lawsuit Oct. 15 in a Cook County, Ill., court, claiming negligence by the Megabus line …

The article Bus Passengers File Suit over Crash Near Indianapolis appeared first on Insurance Journal.

Existing Protocols for Ebola Questioned
- October 17, 2014, 4:13 pm

As Thomas Eric Duncan’s health deteriorated, nurses Amber Joy Vinson and Nina Pham were at the Ebola patient’s side. They wore protective gear including face shields, hazardous materials suits and protective footwear as they inserted catheters, drew blood and dealt …

The article Existing Protocols for Ebola Questioned appeared first on Insurance Journal.

Homeowners Sue Golf Course For Negligence in California Fire
- October 17, 2014, 4:08 pm

A group of homeowners has sued a golf course owner for negligence, stemming from a wildfire that destroyed eight houses, two businesses and an apartment complex near San Diego. The lawsuit filed last week in San Diego Superior Court blames …

The article Homeowners Sue Golf Course For Negligence in California Fire appeared first on Insurance Journal.

Tropical Storm Ana Forecast to Impact Hawaii This Weekend
- October 17, 2014, 4:06 pm

A Central Pacific Hurricane Center advisory shows Tropical Storm Ana is located 315 miles south-southwest of Hilo, Hawaii, with maximum sustained winds of 70 mph. While Ana is gradually strengthening, and may achieve hurricane status later today, the storm is …

The article Tropical Storm Ana Forecast to Impact Hawaii This Weekend appeared first on Insurance Journal.

Health Official: 7 Quarantined in Ohio for Ebola
- October 17, 2014, 4:04 pm

A health official says at least seven people in northeast Ohio are quarantined and being monitored because they had contact with a Texas nurse who was diagnosed with Ebola after visiting the area. The Summit County Public Health medical director …

The article Health Official: 7 Quarantined in Ohio for Ebola appeared first on Insurance Journal.

Detroit Settles with Bond Insurer; Chance of Debt Plan Success Boosted
- October 17, 2014, 3:59 pm

Detroit settled with one of its last major creditors, bond insurer Financial Guaranty Insurance Co., bringing the city closer to ending the biggest-ever U.S. municipal bankruptcy. The remaining holdout creditors, led by hedge fund managers including Aurelius Capital Management LP, …

The article Detroit Settles with Bond Insurer; Chance of Debt Plan Success Boosted appeared first on Insurance Journal.

Willis Launches Disease Response Center Hub for Ebola Preparedness
- October 17, 2014, 3:06 pm

Willis Group Holdings has launched a Disease Response Center microsite on its web page to help business clients prepare their workplaces against the threat of Ebola. The portal features content from a variety of official resources, including the Centers for …

The article Willis Launches Disease Response Center Hub for Ebola Preparedness appeared first on Insurance Journal.

V3 Insurance Offers Enhanced Auto Dealers Coverage in Western States
- October 17, 2014, 3:00 pm

V3 Insurance Partners LLC of Newtown, Pa. has launched the V3 Dealer V₃antage program for non-franchised auto, truck and RV dealers. The program features garage liability, garage keeper’s liability, dealer’s open lot insurance, property, inland marine and crime cover. The …

The article V3 Insurance Offers Enhanced Auto Dealers Coverage in Western States appeared first on Insurance Journal.

William Gallagher, Miller Insurance Offer Ebola Business Interruption Cover
- October 17, 2014, 2:47 pm

Retail insurance broker William Gallagher Associates of Boston and Miller Insurance Services, a London-based independent specialist insurance broker, have partnered to launch Pandemic Disease Business Interruption Insurance to respond to loss of income arising directly out of shutdowns of healthcare …

The article William Gallagher, Miller Insurance Offer Ebola Business Interruption Cover appeared first on Insurance Journal.

Mississippi Businessmen Seek $7.9M from Texas Lawyers for BP Claim Referrals
- October 17, 2014, 2:28 pm

Three Mississippi businessmen argue in a federal lawsuit that Texas attorneys owe them $7.9 million for steering to them thousands of people seeking to resolve claims against BP from the 2010 Gulf oil spill. Gulf Coast businessmen Scott Walker, Kirk …

The article Mississippi Businessmen Seek $7.9M from Texas Lawyers for BP Claim Referrals appeared first on Insurance Journal.

A.M. Best Revises Outlook to Negative for Frederick Mutual in Maryland
- October 17, 2014, 2:18 pm

Ratings agency A.M. Best said it has revised the outlook to “negative” from “stable” and affirmed the financial strength rating of “A- (Excellent)” and the issuer credit rating of “a-” of Frederick Mutual Insurance Co. in Frederick, Maryland. A.M. Best …

The article A.M. Best Revises Outlook to Negative for Frederick Mutual in Maryland appeared first on Insurance Journal.

RSA Insurance Selling Italian Business to ITAS Mutua
- October 17, 2014, 2:08 pm

RSA Insurance Group Plc agreed to sell its Italian business to ITAS Mutua, the country’s oldest customer-owned insurer. RSA will transfer 434 million pounds ($698 million) of liabilities to ITAS and receive a payment of 19 million pounds, the London-based …

The article RSA Insurance Selling Italian Business to ITAS Mutua appeared first on Insurance Journal.

Marsh Appoints Leimkuhler to Be Next CFO, Succeeding Malvasio
- October 17, 2014, 1:18 pm

Global insurance broker Marsh has appointed Courtney Leimkuhler to the role of chief financial officer, effective March 1, 2015. Leimkuhler will succeed CFO Paul Malvasio, who is retiring in March after a career in the insurance industry that spans more …

The article Marsh Appoints Leimkuhler to Be Next CFO, Succeeding Malvasio appeared first on Insurance Journal.

Southwest Risk, L.P. celebrated our 10 year anniversary and spectacular new offices with an Open House party on April 29th.

Thank you to all who attended. Please click here to see photos from the event.