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Insurance Journal
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Today’s Insurance Headlines – Insurance Journal     
  Nationwide Adds Software Protection to Identity Theft Insurance
Mon, February 06, 2012, 05:56:19 PM
Nationwide Insurance has extended its ID theft insurance coverage by providing help with protecting personal information on home computers. The carrier’s newest product includes free access to software that helps thwart criminals from stealing information, even if they have virtual access to …

N.Y. Attorney General Sues Banks in Foreclosure Effort
Mon, February 06, 2012, 05:54:43 PM
New York’s attorney general on Friday, Feb. 3, accused some of the nation’s largest banks of deceit and fraud in using an electronic mortgage registry that he said puts homeowners at a disadvantage in foreclosures while saving banks over $2 …

Torus Appoints Rousseau to Develop General Property in France
Mon, February 06, 2012, 05:53:59 PM
Global specialty insurer Torus has appointed Gilles Rousseau as Senior Underwriter, General Property. He is based in Paris and has more than 30 years of underwriting experience, as well as “extensive knowledge of the French industrial property market.” Rousseau is …

Mercury General Corp.’s 4Q Net Premiums Up Slightly; Declares Quarterly Dividend
Mon, February 06, 2012, 05:51:24 PM
Mercury General Corp. announced on Monday that net premiums written were $618.6 million in the fourth quarter of 2011, a 0.2 percent increase compared from the fourth quarter of 2010, and net premiums were $2.6 billion for the year, a …

Best Upgrades Validus Re’s Ratings; Outlook Revised to Stable
Mon, February 06, 2012, 05:43:49 PM
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-’ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of Bermuda-based Validus Reinsurance, Ltd., as well as the ICR to “bbb” from “bbb-”and debt …

Brown & Brown Chief Takes Leave for Health Reasons
Mon, February 06, 2012, 05:40:03 PM
Powell Brown, president and chief executive officer for global insurance agency Brown & Brown, has taken a temporary leave of absence citing an undisclosed health reason. Hyatt Brown, former company CEO from 1961 until he semi-retired in 2009, will take …

Minor Earthquake Shakes North-Central Utah
Mon, February 06, 2012, 05:39:44 PM
Scientists say a minor earthquake has shaken the Utah Valley, but apparently causing no injuries or property damage. The University of Utah Seismograph Stations report the magnitude 3.7 quake occurred around 4:27 a.m. Saturday. The epicenter of the shock was …

New Hampshire, Other States Reach Settlement With Prudential
Mon, February 06, 2012, 05:39:43 PM
New Hampshire insurance officials are announcing a $17 million settlement reached by seven states and Prudential Insurance over the company’s use of the federal government’s master death files. New Hampshire was one of seven lead states that investigated Prudential’s use …

Close Look at Leak Due at California Nuke Plant
Mon, February 06, 2012, 05:38:28 PM
Inspectors are waiting for the 105 degree temperature inside a nuclear reactor to drop enough to make it safe for workers and equipment to get inside and inspect a tube leak that prompted operators to shut down a nuclear plant …

Louisiana Senator Co-Sponsors Bill to Protect Agent Health Commissions
Mon, February 06, 2012, 05:35:43 PM
Two U.S. senators have filed a bill to clarify that agent compensation should be excluded from the federal health reform Medical Loss Ratio (MLR) requirement for the individual and small group markets. Sen. Mary L. Landrieu, D-La., chair of the …

Oregon Jury Takes Second Look At Tobacco Suit Damages
Mon, February 06, 2012, 05:35:16 PM
A Portland jury is reconsidering a $100 million damage award against Philip Morris in a suit over low-tar cigarettes that goes back more than a decade. In 2002, a jury awarded $150 million in punitive damages after finding Philip Morris …

Maryland-based Avon-Dixon Agency Appoints Selective Exec as COO
Mon, February 06, 2012, 05:24:50 PM
Maryland-based Avon-Dixon Agency appointed industry veteran Donna Sposa as chief operating officer and vice president. Sposa has an extensive background in the property/casualty insurance industry, most recently serving as territory manager with Selective Insurance. She held various positions at Selective …

 
 
 
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