Daily Headlines: Tuesday, February 22, 2011

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February 22, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Allstate Sues Citi, Deutsche Bank Over Mortgage Securities Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG, accusing the banks of causing losses by hiding the risks on more than $385 million ... Litigation, Investigation Fears Driving Up D&O Insurance Limits Directors and officers (D&O) liability insurance is gaining traction as more companies are increasing their D&O liability limits ... BP Oil Spill Claims Fund Alters Some Payment Rules The administrator of BP's $20 billion Gulf oil spill fund announced new rules on how final payments will be determined in the highly ... Supreme Court Rules Federal Law Shields Vaccine Makers from Suits The Supreme Court ruled that federal law shields vaccine makers from product liability lawsuits in state court seeking damages for a ... Senate to Vote on Patent Damages Reform After Break The U.S. Senate aims to begin consideration next month of a bipartisan bill to revamp the U.S. patent system and reduce the likelihood of ... Medical Protective to Offer No Cost Cyber Liability Coverage Medical Protective, the national leader in primary medical professional liability coverage and risk solutions, is now offering MedPro ... Burns & Wilcox Names Cunningham Director of Leisure, Recreation Unit Wholesale broker Burns & Wilcox has named Grace Cunningham as director of its Leisure and Recreation Center of Excellence. Cunningham ... Rockhill Appoints Orza to Lead Management, Professional Liability Unit Rockhill Insurance Company, a member of Columbus, Ohio-based State Auto Group, has appointed A.Q. "Skip" Orza II to leads its ... Underwriters Address Political Risk Exposures in Wake of Egyptian Crisis The civil and political unrest in Egypt has brought to light how vital political risk coverage is — regardless of the country in which... More National News East Pittsburgh Agency Shut for Alleged Premium Fraud The Pennsylvania Insurance Department has shut down Pittsburgh-based Morry Hoffman Agency Inc. for allegedly misappropriating $1 million in ... Injured Connecticut Cheerleader Sues Coach, League The family of a Wilton, Conn. girl who suffered permanent injuries during cheerleading practice has filed a negligence suit against her ... Pittsburgh Pirates Fan Sues Atlanta Braves A Pittsburgh Pirates baseball fan says in a lawsuit that Atlanta Braves' security officers and ushers ignored complaints about a group of ... Vermont Charges Contractor with Workers’ Compensation Violation Williston, Vermont-based home improvement contractor Donald Bevins with three counts of failing to maintain workers' compensation ... New Jersey Added 27 Insurers in 2010 New Jersey saw an increase in the number of new insurance companies doing business in the state, and in carriers writing new lines, in ... More East News Producer Performance Development Program (8 group sessions, plus one-on-one coaching) Finally, one of the insurance industry's premier classroom Producer Sales Training programs is available online. Nearly $4,000 worth of training is delivered at the convenience of the Internet. To allow for an improved learning experience this class is strictly limited to 20 students. Sign Up Today Midwest Appeals Court: Tribe Can Sue Insurer in N.D. Reservation Fire Case An appeals court has reversed a ruling that would have allowed family members of two people killed in a 2002 house fire on the Turtle ... MMIC, Beazley Partner to Offer Data Privacy Insurance MMIC Insurance, Inc. has launched data privacy insurance coverage for the healthcare community and has partnered with Beazley Group, Ltd. ... Illinois Work Comp Commission Shuts Down Uninsured Auto Clinic On Feb. 18, 2010, the Illinois Workers' Compensation Commission (IWCC) shut down an uninsured employer: ZRJ Auto Repair at 2545 W ... More Midwest News The Green Risks Series Boot Camp Join us for an educational webinar series about green buildings - created by insurance professionals for insurance professionals. As green buildings become mainstream, the challenge is on the insurance industry to be prepared for these genuinely unique risks. Save 25% with code GREEN Register Today Southeast Alabama Governor Vows Special Session on Coastal Insurance Alabama Gov. Robert Bentley has renewed a campaign pledge to call a special session of the state legislature to find a solution for coastal ... Georgia Insurance Chief Issued Himself Licenses Before Leaving Office Georgia Insurance Commissioner John Oxendine issued himself several licenses to sell insurance and adjust claims in his last full day in ... North Carolina Plans Public Hearing on Dwelling Rate Hikes North Carolina Insurance Commissioner Wayne Goodwin has called for a June 21 public hearing on a proposed 20.9 percent rate increase in ... Kentucky Workers’ Compensation Panel Criticized Over Outside Adviser An audit has found the Kentucky Workers' Compensation Funding Commission paid about $510,000 to a private financial adviser when the law ... More Southeast News South Central Louisiana AG: Repairs on Homes with Chinese Drywall Set to Begin About 109 Louisiana homeowners impacted by defective drywall will soon see relief as plans are finalized to start the first home repairs, ... Garcia, Ross Reappointed to Texas Auto Burglary, Theft Prevention Authority Texas Gov. Rick Perry has reappointed Carlos Garcia of Brownsville and Kenneth Ross of Houston to the state Automobile Burglary and Theft ... Oklahoma Governor Says She Won’t Replace Workers' Comp System Oklahoma Gov. Mary Fallin says recommendations from a panel she appointed to overhaul the workers' compensation system won't include a ... More South Central News West Montana Proposes Stricter Penalties for Uninsured Motorists Montana regulators have proposed increasing fines for motorists who are repeatedly caught not carrying automobile liability insurance. The ... PPIB Adds Martone to Underwriting Staff Professional Program Insurance Brokerage in Novato Calif., has added Lisa Martone to its underwriting staff. Martone will be a senior ... More West News International New Zealand Quake Kills at Least 65; Race to Reach Trapped Victims New Zealand rescue teams worked under search lights early Wednesday to find scores of people trapped under collapsed buildings after an ... UK Government Announces Financial Regulatory Changes; ABI, Lloyd’s Comment The UK's Conservative government recently announced the long awaited regulatory reform proposals for financial services, covering both ... Iran Oil Tanker Operator Says Ship Insurers Decline to Renew Coverage Iran's biggest crude oil tanker operator, NITC, said on Friday that its club of ship insurers had declined to renew policy cover for the ... Aon Report Concludes P&I Clubs See Improvements on All Fronts A report from Aon Risk Solutions, the global risk management business of Aon, concludes that Protection and Indemnity (P&I) Clubs are ... Argo Group Q4 Net Income Drops to $12.8 Million, FY to $82.6 Million The Bermuda-based Argo Group International Holdings, Ltd. posted lower net income figures for the fourth quarter of 2010 and for the full ... AIG Taiwan Unit Sale Faces Union Hurdles Bailed-out insurer AIG is facing fresh hurdles in its second attempt to sell its Nan Shan unit in Taiwan, with an unhappy union weighing in ... Fairfax Financial Posts Q4 Loss on Investments Toronto-based Fairfax Financial Holdings said Thursday it fell to a fourth-quarter loss as its stock and bond portfolios were hurt by ... Willis UK Broker Networks Add Six New Members Willis Group Holdings announced that six new members have joined Willis Networks, its alliance with local, independent insurance brokers in ... Mitsui Sumitomo at Lloyd's Expands Team; Hires Five Execs Mitsui Sumitomo at Lloyd's has made five appointments to its corporate, mid-market and regional distribution teams as the UK non-life ... More International News Join the Insurance Journal Network Insurance Journal TV Will Deficit Debate Affect Flood Insurance? Taxes? Following the November elections, Congress and the White House, as well as states, have... Watch Now How November Elections Changed Insurance Power in Washington The November elections brought change to Washington as Republicans took control of the House... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Agency Management System Posted: Tue Feb 22 -- Unless you like corrupted policies, lack of response when support is needed, fixes rolled out every other week to correct whatever the last... CSRQueen Less than two weeks left! Posted: Tue Feb 22 -- Okay, so I am now less than two weeks away from taking my first CPCU class (CPCU 500). I've read the book twice from cover to cover and have... bjwestner Buying a Book of Business Posted: Tue Feb 22 -- Buying an agency can take some time, most especially with the demand for Insurance Agencies. One option is to purchase a book of business,... AgencyEquity I'm Considering Opening an Independent Insurance Agency Posted: Tue Feb 22 -- Sacman & D's Ins, I would venture to guess that customers of certain insurance companies are more loyal to, let's say, State Farm, than... lonestar National Agents Alliance? Legit or Keep Away? Posted: Mon Feb 21 -- Danlman- A true professional WILL inform the customer and pass on business when he/she cannot help instead of force feeding a sale. I have... sacman Farmers - your opinion Posted: Sun Feb 20 -- Sundance, Look, I'm a former FIG agent too. I'm not going to bash them because their business model works (for them). As long as your... RKunz2 PA Dog Liability to meet State Requirements Posted: Fri Feb 18 -- So the bite was with reasonable cause and provocation. Another case where the government is forcing someone to buy insurance. It just does... mica.cooper Go to Forums Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Main Street America - Insuring America's Small Businesses & Their Owners, Errors & Omissions, Nonprofits, Social Services & Public Entities More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Director of Regulatory Compliance Sales Representatives - Homeowners Insurance Director - Protection Finance Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. 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