Friday 3 February 2012

Daily Headlines: Friday, February 3, 2012

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Insurance Journal Daily Headlines
February 3, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Senate Bill on Iran Sanctions Targets Banks, Subsidiaries, Insurers

Banking transactions with Iran and financing for its oil shipments could come under tougher scrutiny after a bipartisan sanctions bill ...

Coal Mines Becoming Safer But Some Still ‘Don’t Get It,’ Says U.S. Regulator

Coal operators across the country are changing the way they work, and mines are becoming safer, but the head of the federal Mine Safety and ...

Insurance Fund Would Aid Farmers, Ranchers Still Owed $100M by MF Global

U.S. farmers and ranchers who had accounts with failed broker MF Global have got back the bulk of their money but are still owed about $100 ...

BB&T to Acquire P/C, Life Insurance Units of Wholesaler Crump Group

North Carolina-based BB&T Corp. is buying the property/casualty and life insurance units of Roseland, N.J.- based insurance wholesaler ...

XL Enhances Real Estate Portfolio Protection

XL Group's insurance segment has launched enhanced pollution protection for real estate portfolios. The product will be available through ...

XL and Affinity Team up to Cover Golf Clubs

XL Group's insurance segment and Affinity Agency Group LLC have announced a joint underwriting agreement to offer The Affinity Club Links ...

From MyNewMarkets.com Media Firms Could Face Insurance Woes in 2012

U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012,...
Are you an independent insurance agent or broker? Take IJ's 2012 Agency Salary Survey today and receive an advance copy of the story and the survey results! Click here for more information.
East

Penn. Regulators Approve 5.7% Decrease in Workers’ Comp Costs

The Pennsylvania Insurance Department has approved a 5.7 percent decrease in overall workers' compensation costs that will result in $160 ...

Insurer: Penn State Policy Limits Lawsuit Coverage

Penn State's insurer wants a judge to determine if it has to provide coverage or pay for defense costs in a lawsuit over alleged child sex ...

WCRI: Virginia’s Medical Cost Per Workers’ Comp Claim Higher Than Most

Broad metrics of worker' compensation costs show that Virginia is a lower cost state, largely due to a lower frequency of claims, according ...

Zurich Appoints Chief Underwriting Officer in North America

Zurich has promoted industry veteran Sabrina Hart to chief underwriting officer for Global Corporate in North America. Hart replaces Paul ...
Midwest

Companies Sue over Michigan Fireworks Insurance Requirement

Several fireworks companies are suing over what they call Michigan's excessive insurance requirements under a new state law. The companies ...

Missouri Senator Delays Workplace Discrimination Vote

A black senator from St. Louis area who said she was fearful of reversing decades of hard-fought civil rights gains held the Missouri ...

Ohio Announces $11.6M in Insurance Savings, Recoveries in 2011

Insurance regulators saved or recovered $11.6 million for Ohioans in 2011, the Ohio Department of Insurance announced. The department said ...
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Southeast

HIV-Positive Man Who Sued Atlanta Police Gets New Hearing

A federal appeals court this week granted a new hearing to a 40-year-old man who claimed the Atlanta Police Department rejected his job ...

West Virginia Candidate Maloney Denies Profit Over Safety Charge

West Virginia Republican gubernatorial candidate Bill Maloney said Democrats' accusations that he values profits over safety are untrue. ...
South Central

No Decision Made on Louisiana Citizens Judgment Appeal

Commissioner Jim Donelon says a decision won't be made until next week on whether the state's property insurer of last resort will pursue a ...

Witness: Stanford Was Center of Fraud

Allen Stanford used fake insurance and false financial statements to deceive investors and regulators as he sought to shield his global ...

TDECU Insurance Acquires 2 More Texas Independent Agencies

TDECU Insurance Agency LLC announced it has acquired two independent insurance agencies: Assurance Insurance Agency Inc. (Assurance) based ...

Farmers Insurance Rate Hike in Texas Set for March

Farmers Insurance will raise homeowner premiums by nearly 10 percent after Texas regulators declined to object to the increase. The Dallas ...
West

Woman Takes Honda to Small-Claims, Wins Big

A Southern California woman took Honda to small-claims court and won in a big way. Los Angeles Superior Court Commissioner Douglas Carnahan ...

Los Angeles Sues Over $95M Losses To City’s Pensions

The Los Angeles city attorney has sued a major financial institution, alleging its investment practices cost the city's pension fund $95 ...

Utah Offers New Earthquake Hazard Maps for Salt Lake County

Utah is selling new maps that show the shaking intensity of earthquakes for the west half of Salt Lake County. The set of 10 maps also ...

Federal Disaster Loans For More Reno Fire Victims

The U.S. Small Business Administration is setting up shop in Reno again to help facilitate federal disaster loans for residents and ...

Family of Slain Border From Arizona Agent Files $25M Claim

The family of a slain U.S. Border Patrol agent filed a $25 million wrongful death claim against the federal government on Wednesday. The ...

C.M. Meiers Brokerage in Southern California on Trustee’s Auction Block

Woodland Hills, Calif.-based C.M. Meiers Co. Inc. is being auctioned on Friday at a U.S. bankruptcy court near Los Angeles. Following a ...
International

Australia Evacuates Flooded Towns; Coal Mines Close

Heavy rains shut four coal mines in eastern Australia on Friday as military helicopters evacuated stranded residents from inundated towns, ...

EU Regulators Look to Halt Google’s New Privacy Policy

A group of European regulators has written to Google Inc. calling on it to halt the introduction of its new privacy policy, saying it needs ...

Japan Reported Ready to Join Compensation Pact for Nuclear Victims

Japan will join at least four other nations in a pact to help compensate victims of nuclear accidents in member countries, a newspaper ...

PIP Breast Implant Scandal Exposes Weaknesses in EU Safety Net

In June 2000, when American medical regulators posted a warning letter on the Internet about problems at a breast-implant maker in southern ...

Munich Re Sees $933 Million 2011 Profit Despite Cat Losses

Munich Re's estimated earnings figures for 2011 confirm a net profit from its three sectors – reinsurance, primary and health –of ...

Milliman Opens New Office in Belgium

Seattle-based independent actuarial and consulting firm Milliman announced that it has opened a new office in Brussels to augment the ...

Niblett Joins Xchanging as Insurance Change Director

London-based global business processor Xchanging has appointed John Niblett as Insurance Change Director for its Insurance Sector business. ...
Insurance Journal Blogs

How to Produce a Professional Looking Print Ad In-House

Take a look at these two print ads. Notice a difference? The first ad looks like it was produced in-house. Not very professional and ...

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How Insurance Distribution Is Changing

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New Discussions in the Forums

Software - Agent, not Agency
Posted: Thu Feb 2 -- Sunny - I had the same problem. I wanted to just pay for the software and go from there. I used a program for a while and then decided $150... beyert1
General Cont wants AI on auto and Excess
Posted: Thu Feb 2 -- The GC was shown a copy of the Umbrella where it says -- "If coverage provided to the additional insured is required by a contract or... etimer
Farmers - your opinion
Posted: Thu Feb 2 -- I too agree with the prior posts. I came to Farmers after having been in the IA enviroment for over 10 years where I was a top PL producer,... Was a Farmers Agent
Personal Quake Insurance - CA
Posted: Wed Feb 1 -- Fidelity gives direct appointments to retail agents, not sure if you can access them through a GA or not. Their rates may not necessarily... wariline
Do you purchase Damage Waiver when renting a car?
Posted: Mon Jan 30 -- If I'm traveling and will be driving quite a bit in an urban area with which I am not familiar and the weather is or is projected to be... mightyquinn
How do you ask for a referral?
Posted: Fri Jan 27 -- Another way is to send an email (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd

Reader Comments

Talk of 'Tornado Tourism' Stirs Anger in Joplin, Missouri
Posted: Thu Feb 2 -- People go to the site of the twin towers, to Pearl Harbor, to Gettysburg, the Alamo etc. So Joplin is somehow more sacred? Tourism that is... bob
People Lie More When Texting
Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo
Pfizer Recalls 1M Birth Control Packs After Mixup
Posted: Thu Feb 2 -- I can see it now - wrongful birth suits. Lauren CIC ARM
Lawyers Jump Into Cruise Ship Disaster Cases
Posted: Mon Jan 30 -- At least we're exporting something. youngin'
Bill Targets Arizona Toll Road Evaders
Posted: Tue Jan 31 -- And a law against concealed ray-guns just in case someone invents one. Anejo

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January 23, 2012

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