INSURANCE Today for Tuesday February 03rd, 2009

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Asia News Today
Asia, Asia

S&P Withdraws Emerson Re Loan Rating; Other Ratings Unaffected
Standard & Poor's Ratings Services announced that its 'ratings on Emerson Re Ltd 's three bank loans are unaffected by CIG Reinsurance Ltd and New Castle Re Ltd 's (collectively the cedents) (more)
Hardware store raises $46K in Aspen for charity
ASPEN Ace Hardware recently announced it raised $46,000 at an Aspen event for The Children's Hospital in Denver (more)
Allstate seeks to raise auto insurance rates
The right coverage at the right price could cost more in New Jersey (more)
BNP Paribas, Belgian state and Fortis amend protocol
France based BNP Paribas, the Belgian state and Fortis Holding have agreed to amend the protocol signed in October 2008, along the lines of the recommendations contained in the report of the experts appointed by the Court of Appeal in Brussels (more)
H & R Block: Millions of Taxpayers Can Still Cash In on Last Year's Rebate
KANSAS CITY, MO (MARKET WIRE) An estimated 25 million or 1 in 5 taxpayers may have a second chance to cash in on rebate money still available from last year's economic stimulus plan, even if they received money last year, according to The Tax (more)
Ratings: Swiss Re (Canada), New India, Transsib Re, HDI, Willow Re (Notes),
A M Best Co has withdrawn the financial strength rating (FSR) of 'A+' (Superior) and issuer credit rating (ICR) of 'aa ' of Swiss Reinsurance Company Canada and has assigned a category NR 5 (Not (more)
Addison Gardner: Always Right
Basking in the adulatory afterglow, our new president savored a cigarette and crossed his Nike high tops on the Resolute Desk, while crews in coveralls stabbed 130 tons of trash into black plastic bags (more)
S&P Raises AXIS and Subs Ratings; Outlook Stable
Standard & Poor's Ratings Services has raised its counterparty credit and senior unsecured debt ratings on Bermuda based insurance and reinsurance holding company AXIS Capital Holdings Ltd to (more)
Insurance.com Launches Monthly RateWatch for Car Insurance
Insurance com, the largest online auto insurance agency in the United States, has announced the launch of a monthly RateWatch for Car Insurance, an online consumer resource for timely national car insurance price trends (more)
Pitkin County real estate transactions 2009
A listing of real estate transactions recorded in Pitkin County in 2009 (updated through Jan 22) (more)
5 More Recession Travel Rules: Surefire Ways to Get More Bang for Your Bu
The entire travel industry is having one gigantic fire sale, from cruises to top ski resorts to beach destinations in Hawaii, Mexico, and the Caribbean Want to make your travels even more affordable? Here are five easy ways (more)
Meredith Carroll: Meredith Pro Tem
Last week I nearly suffered a migraine by convincing myself (via a Google search) that my daughter's ear tugging and drool were signs that she was on the verge of cutting her first tooth (more)
Guide to Home Insurance Cover
Your home is one of the most expensive things that you will ever buy, which makes adequate home insurance cover an important consideration If your home is damaged or any of your belongings stolen, then repairs or replacing the loss can take time and (more)
Security Federal reports decline in Q3 earnings
Security Federal Corporation, the holding company of Security Federal Bank, has reported a net income available to common shareholders of $462,000, or $0 19 per basic share, for the third quarter ended December 31, 2008, compared to $1 04 million, or (more)
Ault Joins Specialty Insurance Broker S.H. Smith in Ohio Office
Lori Ault has joined S H Smith & Co , a national specialty insurance broker, as vice president of Sales She will be part of the Midwestern sales team located out of S H Smith's office in (more)
Volunteer Vacations, Family Style
Helping others while traveling can instill a greater understanding of the world and teach your children about the importance of community, compassion, and consideration for others (more)
An opportunity
Dear Editor: There is an important opportunity that we might grasp in this time of economic downturn (more)
Versata: Versata Receives Positive Rating in Leading Analyst Firm's Report
AUSTIN, TX (MARKET WIRE) Versata Enterprises announced today that Gartner, Inc assigned a rating of 'Positive' for Versata in its December 2008 MarketScope for Insurance Incentive Compensation Management Applications (1) Many of the largest Insura (more)
Rhode Island Town Wants Help Paying Nightclub Fire Agreement
The Rhode Island town where a nightclub fire killed 100 people in 2003 says it needs help from the state to pay a $10 million settlement to survivors of the blaze and relatives of those who (more)
New York Wholesalers' Association Names Cruz to Board
The Professional Insurance Wholesalers Association of New York State Inc has appointed Maya Cruz to its board of directors Cruz, who is vice president of All Risk CESI LLC in New York City, (more)
Grand Junction mayor to talk about economy on CNBC program
GRAND JUNCTION, Colo A Western Colorado city is one of five across the U S being featured on a cable television and satellite program about how communities are surviving or thriving during the recession (more)
Lloyds TSB Insurance: Pounds Sterling 350 Million Bill for 'Driving Under t
LONDON, UNITED KINGDOM (MARKET WIRE) Editors Note: Photos and a video are included with this press release (more)
Vonn wins super G for first gold
VAL D'ISERE, France American skier Lindsey Vonn won the super G at the World Championships on Tuesday for her first major gold medal (more)
American Physicians Service Group, Inc.: American Physicians Service Group,
AUSTIN, TX (MARKET WIRE) American Physicians Service Group, Inc ('APS') (NASDAQ: AMPH) will present at the 2009 UBS Global Healthcare Services Conference on February 10, 2009, at approximately 8:00 a m (Eastern Time) This event will be held at Th (more)
Insure on the Spot Provides Affordable Car Insurance Policies through Revis
Auto Insurance Quotes, Information for Chicagoland, Illinois, Indiana Now Easily Available via Online Channels (more)
Widows in fresh withdrawal ban
COMMERCIAL property investors were dealt a further blow yesterday as Scottish Widows became the latest company to block fund withdrawals (more)
DiSipio to Lead New AXIS Accident & Health Business
Bermuda based AXIS Capital Holdings Limited announced that Christopher DiSipio has joined AXIS Insurance in Berkeley Heights, NJ as CEO of AXIS Insurance's newly formed Accident & Health Division (more)
Encore Bancshares reports net loss for Q4
Encore Bancshares has reported a net loss of $10 million, or $1 02 per diluted share, for the fourth quarter ended December 31, 2008, compared with net earnings of $1 7 million, or $0 16 per diluted share, for the same period of 2007 (more)
Yes, let's make gridlock worse
Dear Editor: Oh good Traffic on Main Street isn't congested enough, city government is considering building a tree filled median down it (more)
Related faces another delay in Snowmass
SNOWMASS VILLAGE There are an estimated three more weeks of work below grade to go on the Little Nell Residences Snowmass, after which developer Related WestPac said it will have to send roughly 50 workers home if the company doesn't get approv (more)
Terry Murden's Business Blog: ABN Amro wants to reclaim assets sold to RBS
In what looks like a Robbie Keane style return of the prodigal son, ABN Amro is in talks to take back some of the assets it sold to Royal Bank of Scotland (more)
Michigan Insurance Hall of Fame Now Accepting Nominations
The Michigan Insurance Hall of Fame (MIHOF) is now accepting nominations for its 16th annual induction ceremony Wednesday, Aug 19 on the Olivet College campus The MIHOF recognizes individuals (more)
Get Wet: 3 Underwater Adventures for the Whole Family
These picks offer a selection of swimming and snorkeling escapes in the U S and the Caribbean that are suitable for the young and old alike (more)
Dhofar Insurance annual net profit down
Oman based Dhofar Insurance, in its unaudited results, has reported net profits after tax of OMR2 98 million for the year ended December 31, 2008, compared to OMR7 27 million for 2007 (more)
Fireman's Fund Brings 'Green' Homeowners Insurance to Minnesota
Fireman's Fund Insurance Co is now offering 'green' homeowner's insurance to consumers in the state of Minnesota This is the first ever admitted green insurance available to homeowners in the (more)
Standard Life in BT contract
STANDARD Life has been appointed by BT to develop a corporate self invested personal pension (Sipp) plan for its 20,000 employees currently in defined contribution pla (more)
Business briefs
On Wednesday, Dave Reed Insurance will host the appearance of the GAINSCO Auto Insurance No 99 Daytona Prototype race car (more)
The Main Street America Group Introduces Main Line BOP
The Main Street America Group, a super regional property casualty insurance carrier, announced the availability of its new Main Line business owners policy (BOP) product and Main Street Station (more)
Texas Announces December Insurance Industry Enforcement Actions
The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December The actions include five license revocations, three license (more)
W.A. Wilde: The Wilde Companies Names Ed Marino New President
HOLLISTON, MA (MARKET WIRE) The Wilde Companies today announced that it has appointed Ed Marino as the company's new president In this position, Marino will oversee the Wilde Companies including agency services, operations, marketing and sales, tec (more)
Through the Gadling Lens: Prepping for a trip
Filed under: PhotosRecently, I received the following email from someone I'll call 'Willy' (because that's his name):'We're going sailing in Tortola this summer with another couple, and I want to take some great shots How can I prepare in advance of (more)
1,600 gallons of gas spills at Old Snowmass Conoco
OLD SNOWMASS Nearly 1,600 gallons of premium unleaded gas spilled early Monday after a vehicle ran into a pump at the Old Snowmass Conoco and cracked a pipe in a hit and run accident, authorities said (more)
Is identity theft insurance worth it?
My credit card company has offered me identity theft insurance Is this worth having? (more)
Ranks of Uninsured Motorists Climb with Unemployment Rate
LOS ANGELES As California's economy tumbles, cutting auto insurance may be a temptation for many cost conscious drivers (more)
National Business Group on Health: National Business Group on Health Appoin
WASHINGTON, DC (MARKET WIRE) The National Business Group on Health today announced the appointment of Dr Cynthia Reeves Tuttle as Vice President of its Center for Prevention and Health Services, a new position The National Business Group on Healt (more)
Home Renters Insurance and You
If disaster strikes your dwelling, you as a renter, face the same risk as the homeowner The homeowner's insurance protects the building, not your belongings in it Renters insurance can protect your belongings in case of disaster (more)
Aegon cuts capital posts
ELEVEN marketing posts are to be lost at Aegon, the Dutch insurance firm that bought Scottish Equitable in 1994 (more)
Vegas Jury Awards Family Record $2.5M in Malpractice Case
A jury awarded $2 5 million in medical malpractice damages to the family of a Nevada woman who died at age 27 after doctors failed to diagnose her cancer Officials called it the largest (more)
Allstate seeks 15 percent increase in N.J. auto insurance rates
Allstate New Jersey Insurance Co asked the state for permission to raise auto insurance rates 15 4 percent, according to a report in the Record The report said the state's third largest auto insurer by premium dollars, which covers nearly 700,000 v (more)
Aspen's global connection softens
ASPEN Ian Purchas and his ilk are high on the Aspen Skiing Co 's 'most wanted' list this season (more)
The First Marblehead Corporation: First Marblehead Announces Second Quarter
BOSTON, MA (MARKET WIRE) The First Marblehead Corporation (NYSE: FMD) today announced its financial and operating results for the second quarter of fiscal 2009 and for the six month period ended on December 31, 2008 (more)
ODOT's Janet Dunbar: Ohio Drivers Must Have Car Insurance
The state is warning people who are trying to cut costs don't drop your auto insurance to save money Jarrett Dunbar is with the Ohio Department of Insurance Dunbar says it is against the law in Ohio to drive without proof of financial responsibil (more)
Homeowners Insurance Company Ratings - An Important Factor When Shopping Fo
There's a lot to think about when you're shopping for homeowners insurance After you've determined the type of coverage and the amount of coverage that you need its a good idea to evaluate any companies you might consider going with by finding homeo (more)
ACE to Release Q4, Full Year Earnings Today; Conference Call Details
ACE Limited expects to issue its year end, fourth quarter earnings release and financial supplement after the market closes today, Tuesday, February 3, 2009 A copy of these documents will be (more)
RBS chairman McKillop steps down early
THE chairman of part nationalised Royal Bank of Scotland stepped down two months early today (more)
AP Analysis: Florida Insurance Bind Overshadows Louisiana
Louisiana homeowners stunned by their rising insurance rates should remember that it could be worse They could live in Florida State Farm announced recently that it will stop doing business (more)
North Dakotans Urged to Buy Flood insurance Before Spring Melt
With record amounts of snow in North Dakota, Insurance Commissioner Adam Hamm is urging homeowners, renters and business owners to consider buying a flood insurance policy Hamm says there's a (more)
Maryland to Join National System to Prevent Auto Fraud
The U S Department of Justice says Maryland must soon implement a national computer system that warns buyers if a vehicle was stolen or previously damaged Officials say the National Motor (more)
At Buttermilk, it's Open season again
ASPEN The fourth annual Aspen Snowmass Open returns to Buttermilk starting Thursday (more)
Fitch Downgrades Allstate Corp. and its Subs; Outlook Remains Negative
In contrast to A M Best and Standard & Poor's, Fitch Ratings has downgraded the senior debt rating of the Allstate Corporation to 'BBB+' from 'A', and the financial strength ratings of Allstate's (more)
Foreclosure advice
Dear Editor: Three cheers for Congresswoman Kaptur of Toledo, Ohio With 4,000 foreclosures in her county in 2008, her advice is to NOT LEAVE YOUR HOME (more)
Wrong place, wrong bottle for Aspen woman
ASPEN Waiting in line at a Tahiti airport cafe, taking a sip of bottled water she'd just grabbed from a cooler, Kristin Pride of Aspen had no idea she was about to be engulfed by pain (more)
2008 Insurance Fraud Hall of Shame
A serial home arsonist, an elected judge who made phony auto injury claims, and dentists who did worthless root canals on children were among the nine swindlers elected to the Insurance Hall of (more)
Chubb Offers New Employment Practices Endorsements
The Chubb Group of Insurance Cos has broadened its employment practices liability (EPL) coverage by offering a solution for companies concerned about late claim reporting of Equal Employment (more)
Texas Lawmaker Proposes Tax Caps for Commercial Property
Texas State Representative Bill Callegari (Katy) has filed two measures to cap increases in property tax appraisals for commercial property The bills, HB 979 and HJR 49, limit annual appraisal (more)
Tuesday Travel Trivia (Week 15)
Filed under: Travel TriviaTrivia has been with us ever since Adam first quizzed Eve on which day of the week God formed him out of dust and blew life into his nostrils (Spoiler alert: It was the sixth ) Last week's winner Alex got nine out of ten h (more)
Assurant promotes Robyn Stonehill to SVP of compensation and benefits
Assurant, a provider of specialty insurance and insurance related products and services in the US, has promoted Robyn Stonehill to the position of senior vice president of compensation and benefits (more)
Home insurance claims 'could have been avoided'
A number of residents in Dundee who may currently be facing home insurance claims as the result of being burgled could have saved themselves the inconvenience of having to make a claim, it has been suggested Figures from Tayside police revealed 25 pr (more)
Basic maintenance 'could prevent breakdowns'
Motorists who do not want to end up relying on their car insurancebreakdown cover would do well to conduct routine checks, it has been claimed According to Haynes, by carrying out routine maintenance, drivers can ensure vehicles are as reliable as po (more)
(AFX UK Focus) 2009-02-02 12:41 UPDATE 1-Kingsway shareholder asks co to se
Feb 2 (Reuters) A major shareholder group of property and casualty insurer Kingsway Financial Services urged the company to sell or run off non core businesses and focus on its core business of non standard auto insurance In a filing with U S Sec (more)
Community Valley Bancorp reports Q4 net loss
Community Valley Bancorp has reported a net loss of $430,000, or $0 07 per diluted share, for the fourth quarter of 2008, as compared to a net income of $1 39 million, $0 18 per diluted share, for the fourth quarter of 2007 (more)
Best Sees No Ratings Change for Allstate Insurance, Allstate Financial
A M Best Co has commented that its ratings and outlook on Allstate Insurance Group and The Allstate Corporation (Allcorp) 'remain unchanged, despite recently reported fourth quarter 2008 (more)
Colorado tourism a smart investment
Dear Editor: Americans across the nation and here in Aspen Snowmass are all being impacted by the current state of the economy (more)
Business Benefits Insurance : Health Savings Accounts Emerge as Top Tool fo
ANDOVER, MA (MARKET WIRE) The best emerging way for employers to control healthcare costs is the health savings account (HSA), says Jim Edholm, president of Business Benefits Insurance in Andover, Mass (more)
Saudi Arabia Opens Up to Visitors
Filed under: Arts and Culture, History, Saudi ArabiaAs the global economy continues to spiral downward, and the price of oil hovers around the $40 barrel, down more than $100 from last summer, Middle Eastern countries are looking for new opportunitie (more)
Lead by example
Dear Editor: Recent editorials ('A false sense of security,' Jan 28 and 'Not so fast, please,' Jan 31) prompts this letter to you (more)
State higher education cuts not a huge concern for CMC
GLENWOOD SPRINGS Colorado Mountain College's 'rainy day' planning has positioned it well to weather the economic downturn But that's not to say some additional planning and possible future budget adjustments won't be necessary (more)
Budget Travel - The Low Cost Carrier
Filed under: Airlines, Budget TravelSummary: The low cost carrier (LCC) may seem like a new development in the aviation world, but the concept is anything but new The first real low cost 'no frills' airline was Laker Airways, which took off back in (more)
American E&S Insurance Offers Professional Liability Program
San Francisco based American E&S Insurance Brokers has introduced AESPro, a nationwide professional liability program for architects and engineers, technology media, and miscellaneous professional (more)
Garfield County drilling permits up in 2008, but fewer rigs active
GLENWOOD SPRINGS Garfield County recorded 2,888 oil and gas drill permits in 2008 the most in the state The permits are issued by the Colorado Oil and Gas Conservation Commission (more)
Wyoming Introduces Workers' Comp Legislation
Legislation has been introduced in the Wyoming House that could hold oil and gas operators liable for their own negligence resulting in injuries and fatalities on their job sites in the (more)
Your Guide to Home Insurance
Unlike car insurance, UK home insurance is not something that you are legally obliged to have There are a number of reasons however why homeowners do want to take out home insurance policies, for a start it provides a great deal of protection agains (more)
Aegon UK to axe 11 city jobs
A RESTRUCTURING operation is to lead to 11 jobs being cut by Edinburgh based financial giant Aegon UK (more)
Advice may help third party insurance holders
Motorists with third party car insurance who are keen to avoid an accident in the current sub zero conditions may do well to pay heed to some recent advice Protyre has claimed when roads are icy or snowy drivers need to use a skilful and gentle touch (more)
Love stinks (this year), V-Day spending down
Filed under: Festivals and Events, North America, United StatesDon't expect an expensive gesture this year Valentine's Day spending is expected to drop 4 8 percent this year, after suffering to the tune of 6 8 percent a year ago The good news is th (more)
Aspen J3 racers shine at Steamboat slalom, GS
STEAMBOAT SPRINGS Bobby Moyer, 14, and Devon Cardamone, 13, prolonged their streak of 1 2 finishes in slalom this winter among J3s, nabbing the top two podium spots at the Steamboat SmartWool Series races over the weekend (more)
Markel reports net loss in Q4
Markel, which is engaged in marketing and underwriting specialty insurance products and programs, has reported a net loss of $32 71 million, or $3 33 per diluted share, for the fourth quarter of 2008, as compared to a net income of $93 44 million, or (more)
Advocates: Insurance rules may discriminate
Changes to regulations governing New Jersey's auto insurance industry that took effect on Jan 1 have sparked concern from some consumer advocates who say the laws might permit discrimination (more)
Wills/HRH Executive McCurry Joins Georgia's Seacrest Partners
Seacrest Partners, Inc , a Savannah based insurance brokerage and employee benefits consulting firm, reported that J Cliff McCurry has joined the firm as vice chairman McCurry will oversee (more)
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