Daily Headlines: Wednesday, March 23, 2011

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March 23, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Insurers, Brokers Settle Spitzer-Era Bid-Rigging Case for $37 Million Lawyers for a majority of the 15 insurance company and broker defendants in a long-running suit accusing them of bid-rigging are scheduled ... Special Report: Workers' Compensation History Pirates of the 18th century and a 19th century German "Iron" Chancellor preceded the United States in the creation of a social system ... Bayer Suit Latest to Allege Gender Bias in Employment Six former and current employees of a U.S. unit of Bayer AG filed a class-action lawsuit against the company on Monday, alleging gender ... Igor, Tomas Retired as Hurricane Names Hurricanes Igor and Tomas are no longer a threat. The World Meteorological Organization has retired the two names from those used in 2010 ... Ironshore Specialty Introduces Lead Umbrella Product for Agriculture Industry Ironshore Inc. has introduced Ironshore AgriProtection, an agriculture industry lead umbrella policy launched in response to increased ... Tech Risks to Watch in 2011 The constant innovation indigenous to the technology industry may make the idea of risk management seem difficult and sometimes impossible.... More National News East Pennsylvania Ponders Workers’ Comp for Small Business Owners Agents in Pennsylvania will urge lawmakers today to pass legislation that would allow insurers to cover owners or partners of small ... Company Faces $300M Penalty in Pennsylvania Pollution Suit GenOn Northeast Management Co. is liable for fouling the Conemaugh River with metal discharges from a power plant in Indiana County since ... New York Ex-Lawmaker Gets Prison in Insurance Fraud Case A former New York lawmaker will spend at least four years in prison following his conviction in a Hamptons insurance fraud case. George ... More East News Midwest Huntington Insurance Names Raab as Chief Financial Officer Dennis Raab has been named chief financial officer of Columbus, Ohio-based Huntington Insurance, a wholly owned subsidiary of Huntington ... Ohio Governor Signs Surplus Lines Insurance Legislation Ohio Gov. John R. Kasich has signed legislation continuing Ohio's involvement in the surplus lines insurance market, the governor's ... More Midwest News Registrations are now open: Almost Everything You Need to Know About Owner-Controlled Insurance Programs Do you know how such programs affect your insured? Join us for the two-part live training series online. Plus get the recordings so you can listen and review again later. Reserve your seat today! Southeast Florida Lawmakers Take Two-Pronged Approach to Insurance Reform Tort reform and fraud have become the two big targets as Florida lawmakers are finally gearing up to tackle the state's no-fault auto ... First Community Seeks 23% Florida Homeowners Insurance Rate Hike A group of Florida homeowners could see a double-digit increase in their property premiums if regulators go along with their insurer's ... More Southeast News South Central Class Action Suit Over New Orleans Hospital Katrina Deaths Begins A last-minute effort to work out a settlement with Tenet Health Systems and Memorial Medical Center in a lawsuit over deaths at the ... Louisiana Agent Fined $100K for Alleged Misappropriation of Premiums A Deville, La., insurance agent has been accused of attempting to defraud insurers by submitting false business and receiving more than ... Oklahoma's Worth Ave. Group Expands Coverage for Electronic Devices Electronic device insurance provider, Stillwater, Okla.-based Worth Ave. Group, has expanded its comprehensive insurance coverage for ... More South Central News West Colorado Bill Restricting Homeowners Insurance Cancellations Defeated The Colorado House Economic and Business Development Committee has voted 9-4 to defeat a bill that homeowner's insurance carriers say would ... Commentary: Pending State Legislation to Implement NRRA is Fly in the Ointment Pending state legislative proposals, such as California's AB 315, that would implement the Nonadmitted and Reinsurance Reform Act of 2010 ... Tom Hanks, Rita Wilson File Lawsuit Against Former Insurance Broker Actor Tom Hanks and his wife, Rita Wilson, have filed a lawsuit seeking unspecified damages from their former insurance broker. According ... Encircle Insurance Services Joins ISU Network Encircle Insurance Services has joined ISU International. ISU Encircle Insurance Services owners Paul and Dori Caccamise together bring ... L/B/W CEO Like Recognized by Regional Business Publication The San Fernando Valley (California) Business Journal (SFVBJ) has recognized L/B/W Insurance & Financial Services CEO Mitzi Like as one ... More West News International Japan Govt. Estimates Quake, Tsunami Damages at $185 to $308 Billion The Japanese government on Wednesday estimated the direct damage from a deadly earthquake and tsunami that struck the country's northeast ... Munich Re Estimates Japan Quake, Tsunami Claims over $2 Billion Munich Re announced that it has estimated its claims burden from the earthquake and tsunami in Japan at around €1.5 billion [$2.128 ... London Broker Sees Some Libya Claims, but Situation is Unclear London-based Lloyd's insurance and reinsurance broker United Insurance Brokers (UIB) has indicated that there may be some insurance ... Insurer Shares Relatively Unaffected by Japan Damage Estimates Insurer shares largely shrugged off the industry's first round of damage estimates from this month's earthquake in Japan, which may prove ... Hannover Re Estimates Japan Quake, Tsunami Losses at $355 Million Hannover Re announced that, "based on its analysis of individual treaties," its loss expenditure from the Japan earthquake is expected to ... Platinum Estimates NZ Quake, Aus. Flood Losses at $160 Million; Assessing Japan Bermuda-based Platinum Underwriters Holdings has announced that it currently expects the 2011 Australian floods and Cyclone Yasi and the ... Guy Carp to Develop Agriculture Microinsurance for Mozambique Farmers International reinsurance broker Guy Carpenter & Co. announced that it will receive a $1.0 million grant from the International Finance ... Best Places Topiary Capital Debt Rating under Review/Developing A.M. Best Co. has placed under review with developing implications the debt rating of "bb+" on $200 million Series 2008-1 Class A ... More International News Join the Insurance Journal Network Insurance Journal TV Soft Market Is Finally Ending, Really, Says SNL Financial Could the long soft market really be over? Several recent reports concluded it is not over.... Watch Now Will Deficit Debate Affect Flood Insurance? Taxes? Following the November elections, Congress and the White House, as well as states, have... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums National Agents Alliance? Legit or Keep Away? Posted: Wed Mar 23 -- I find it so funny that I ran across this thread concerning NAA. I have come in contact with over 50 agents from NAA. They all fall into 3... danny cribbs Online Insurance Shoppers Posted: Wed Mar 23 -- It actually has been for sometime, the internet in its current form has been around for close to 20 years. The simple transactions such as... AgencyEquity What is your broker of record policy? Posted: Wed Mar 23 -- I think there are some very valid replies here, but keep in mind, if an agency was doing its job, it wouldn't lose an account to a BOR. Yes,... AgencyEquity Open your doors and look what comes in... Posted: Tue Mar 22 -- Wow, D! Been there....done that....SO many times! Looks like she JUST found out that Products/Completed Ops. were not inlcuded in her... SFOInsuranceLady "Pay As You Go" Work Comp Posted: Mon Mar 21 -- We have been offering a Pay As You Go approach - PMC PayGo, for nearly 2 yrs. It is avaialble/approved with 3 National Carriers and growing.... dmalloy FSC Pipeline anyone? Posted: Fri Mar 18 -- I have to 2nd Russman's plug. I've known Paul for a long time....since his Applied days. Quality individual. 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