Wednesday 7 March 2012

Daily Headlines: Wednesday, March 7, 2012

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Insurance Journal Daily Headlines
March 7, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

SEC Weighs Exempting Insurance Companies from Volcker Rule

The top U.S. securities regulator said on Tuesday her agency is exploring whether insurance companies can qualify for a coveted exemption ...

7-Day Advance Hurricane Forecasts Not Far Away, Says Storm Center Chief

National Hurricane Center Director Bill Read said that science will improve to the point where forecasters can reliably issue forecasts ...

Tokio Marine Buyout of Insurer Delphi Allowed to Proceed

A Delaware court on Tuesday denied a request to block the $2.7 billion sale of insurer Delphi Financial Group to Tokio Marine Holdings ...

K&B Introduces Workers' Compensation Program

K&B Underwriters has launched a new workers' compensation product in collaboration with SeaBright Insurance Co. The carrier will bring ...

PPIB Introduces Professional Lines Program

Professional Program Insurance Brokerage (PPIB) has launched a nationwide program with coverage for employment practices liability, ...

From MyNewMarkets.com Online Commercial Lines Quoting Tool Launched

The launch of a real-time commercial lines rater that gives agents access to a handful of large carriers was announced today by a division...
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East

Liberty Mutual Posts $284M Q4 Income; $365M Profit for Full Year

Liberty Mutual Group reported $284 million in net profit for 2011 fourth quarter -- down 50.7 percent compared to the same period one year ...

N.Y. Financial Services Staff Visit Neighborhoods Hit by Foreclosures

Mortgage foreclosure prevention specialists from New York State Department of Financial Services will visit a New York City neighborhood ...

Virginia Man Pleads Guilty to Faking Death for $750K Insurance Payment

A Lunenberg man has pleaded guilty to trying to fake his death to receive a $750,000 life insurance payment. U.S. Attorney Neil MacBride ...

Lifetime Health Care Caps End for 374,000 in Rhode Island

U.S. health officials say that 374,000 Rhode Island residents will no longer bump up against a lifetime limit on health care coverage ...
Midwest

Insurance Exec Pleads Guilty in Wisconsin to Intoxicated Flying

An insurance company president has pleaded no contest to flying a plane while intoxicated in Fond du Lac County in Wisconsin, even though ...

Mansfield Now Leading Professional Insurance Agents of Indiana

The independent insurance agent trade group, Professional Insurance Agents of Indiana Inc., announced a new slate of officers for 2012. ...

NW Indiana Property Owners See Rise in Leasing Inquiries

Commercial and industrial landowners around northwest Indiana are redoubling efforts to market their parcels now that the economy has ...

NWS: Warning System No Match for Fast-Forming Tornado

Meterologists in the Topeka, Kan., bureau of the National Weather Service say the tornado that hit Harveyville on Feb. 28 formed too ...

FEMA Begins Survey of Illinois Tornado Damage

The Federal Emergency Management Agency on March 5 began surveying the damage from tornadoes and other severe weather that roiled southern ...
Southeast

Florida House OKs 3 Victim Compensation Measures Worth Millions

Three high-profile claims bills that would let victims of governmental negligence receive millions in compensation cleared the Florida ...

Georgia Woman Files Harassment Claim Against Paul Deen Restaurant

The former general manager of a restaurant co-owned by Paula Deen claimed in a lawsuit filed Monday she was sexually harassed and subjected ...

Florida’s Citizens Names OFR’s Grady as Interim President

Florida largest property insurer has named a state regulator and former state lawmaker as its interim president, effective March 12. ...
South Central

Stanford Ponzi Scheme Verdict Could Boost Civil Claims

The conviction of Allen Stanford on Tuesday for orchestrating a $7 billion Ponzi scheme could be bad news for two prominent law firms and ...

Louisiana High Court Says Storm Death Files Can Be Kept Secret

The Louisiana Supreme Court has rejected an attempt by two news organizations to examine the files of a state investigation into ...

Louisiana Ranks 4th in Train-Vehicle Crashes, Injuries

Louisiana recorded fewer vehicle-train collisions and fatalities last year, but the number of related injuries rose slightly. That's ...

SUNZ Insurance Expands Into Oklahoma

Florida-based SUNZ Insurance announced it has received its certificate of authority to begin offering workers' compensation coverage in ...
West

Oregon Senate Approves Health Insurance Exchange

The Oregon Senate has approved a measure implementing an online marketplace where individuals and small businesses can shop for health ...

Immigrant Files $1M Claim Against Arizona Sheriff

A Mexican immigrant who had a romantic relationship with an Arizona sheriff has filed a $1 million notice of claim against the sheriff and ...

California Department of Insurance Takes Action Over Claims Handling

The California Department of Insurance has served an order to show cause, a statement of charges and a notice of penalty against the New ...

Study: California Cell Phone Restrictions Reduce Deaths

A study from the University of California, Berkeley says a nearly 4-year-old ban on drivers using hand-held cellphones is saving lives. The ...
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International

HSBC Sells General Insurance Business to AXA, QBE for $914 Million

HSBC has agreed to sell its general insurance businesses to French insurer AXA Group and Australia's QBE Insurance Group for $914 million ...

Willis Receives Approval for New China Office in Chongqing

Willis China, a part of Willis Group Holdings, announced that the Chinese Insurance Regulatory Commission (CIRC) has granted it approval to ...

Ratings Recap: Grupo Nacional, GBG

A.M. Best Co. has downgraded the financial strength rating to 'A-' (Excellent) from 'A' (Excellent) and issuer credit rating to "a-" ...
Sponsored Content

Broker's Insurance Group Announces "Biggie Awards"

Orange, CA, 03/01/12 – The Broker's Insurance Group (B.I.G) announced the BIGGIE award winners at its inaugural gala on February 23.  ...
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Should D&O Cover Bribery?

Director and officers liability coverage is increasingly being called up to respond to cases...
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Chartis CEO Hancock on Fear, Regulation, Science and Expenses

Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the...

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New Discussions in the Forums

Pet Cremation
Posted: Tue Mar 6 -- Any admitted carriers do Pet Cremations? Thanks JAM
Going from Retail to Wholesale in CA
Posted: Tue Mar 6 -- Hello, Our plans are to move from the Retail to Wholesale. My office receives 2-5 calls a week from retailers who want to get appointed with... InsureTime
Work Comp (CA) - Code 9053-2 Health/Fitness Club w/Ch.11 BK
Posted: Tue Mar 6 -- Hello, Does anyone have a market for a gym. Payroll 860,000 class code 90653-2 with Ch.11 BK. No coverage in place since October 2011. Non... InsureTime
How do you ask for a referral?
Posted: Tue Mar 6 -- thanks Sacman for letter I am using something similar as a letter but your is better so I am tweaking mine William Graham
Producer Compensation-Florida
Posted: Tue Mar 6 -- Follow up question is, How do agents compensate their producers on renewal? I own a small agency and has a very good relationship with my... saabins
Licensed vs non licensed CSR ( CA)
Posted: Mon Mar 5 -- You are absolutely right. Recently we were looking for a new CSr and I was surprised by the number of CSR resumes we were getting that did... JAM
ADA Violations
Posted: Mon Mar 5 -- I have a fast food client who was hit by 2 of these, in my opinion, serial litigists. Between the 2 individuals, they have filed 110 ADA... waves101
Should I accept Allied Appointment?
Posted: Mon Mar 5 -- Run! rodgwag

Reader Comments

Disabled Vet Gets $20k in Utah Service Dog Dispute
Posted: Wed Feb 29 -- From experience, most board members of an HOA and most managers either don't know the law or choose to ignore it. Good win. Anejo
Driving on 'High'-way: Many Teen Drivers Admit Having Driven After Pot
Posted: Fri Mar 2 -- In a related survey, 52% of teens surveyed admitted to taking surveys under the influence of marijuana. Cheetoh Mulligan
Insurance Fight Shows Catholic-Evangelical Ties
Posted: Wed Feb 29 -- What I meant to say is that I am pro choice. I don't really see the difference in the two statements. Please help me clarify the... ijs
Wealthy Americans Fear Costly Lawsuits
Posted: Tue Mar 6 -- It is a race...Who gets the money first...Obama or the blood sucking ambulance chasers. Of Course
New York's Cardinal Urges 'Freedom of Religion Battle'
Posted: Mon Mar 5 -- 28 states already have this requirement. Why the fuss now? Because it's related to health care reform. ComradeAnon

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March 5, 2012

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