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Daily NewsFlash : May 20, 2013

Daily NewsFlash
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Monday, May 20, 2013

Insurance Claims from Texas Storms, Tornadoes Come Flooding In

Tornadoes in TexasState Farm had received 1,415 auto claims and 2,100 for home damage by Friday morning, less than 48 hours after violent tornadoes hit the Texas communities of Granbury, Cleburne and others.

Insurers are preparing for a flood of

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Lone Star State Sues BP Over Oil Spill-Related Damages

Texas sues BPOn Friday Texas joined four other states in suing British oil company BP over the 2010 Deepwater Horizon oil spill, seeking damages related to the worst offshore oil spill in U.S. history.

The lawsuit, file...

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South Florida Insurance Fraud: Feds Charge 92 Over $20 Million In Claims

Auto insurance fraud in South FloridaThe vehicle collisions looked like typical South Florida accidents with motorists and passengers reporting they needed treatment from chiropractors and massage therapists.

But investigators said the crashes were carefully staged by willing participants who were trained how...

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Willis ILS Report: Q1 2013 Sees $1.6 Billion of New Cat Bond Issuance

Willis cat marketThe first quarter of 2013 saw $1.6 billion of new issuance non-life capacity marketed through five catastrophe bond transactions, including three transactions marketed in the first quarter and closed at the beginning of the second quarter, according to Willis Capital Markets & Advisory (WCMA), part of Wi...

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AAMGA Recognizes New CIW and CMGA Designees

AAMGA cerificationsThe Education Foundation of the American Association of Managing General Agents (AAMGA) will recognize three new Certified Insurance Wholesalers (CIWs) and two new Certified Managing General Agencies (CMGAs) at its 87th Annual Meeting in New Orleans, May 19-22, 2013. A total of 63 CIW’s and 41 CMGA&rsq...

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Texas Senate Fails to Vote on TWIA Reform Bill

Texas windstorm billLegislation that would have provided more financial stability to the Texas Windstorm Insurance Association has stalled in the state Senate, leaving many in the insurance industry which would have been relied upon to co...

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Price Insurance Key to Farm Bill

Farm bill and insuranceWith committee approval for a five-year federal farm bill, legislators and farmers alike are hoping that Congress will end the recent tactic of passing stop-gap agriculture measures and provide long-term stability to the industry.

Rep. Cheri Bustos, D-East Moline, and her colleagues on t...

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