Jan 31, 2012

Daily Headlines: Tuesday, January 31, 2012

Looking for Workers' Comp Markets? Click here for more information.
Insurance Journal Daily Headlines
January 31, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Media Firms Could Face Insurance Hikes in 2012

U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012, ...

Electronics in Autos Pose New Safety Issues, Scientists Say

The increasing use of electronic systems in automobiles is a challenge for federal safety regulators who often lack the technical expertise ...

MJ Insurance Launches Golf Program

MJ Insurance has created a product for the golf industry that includes both insurance coverage and risk management. The company's "Golf ...

Big "I" and Swiss Re Launch E&O Web Resource

The Independent Agents & Brokers of America (IIABA) Big "I" Professional Liability Program and Swiss Re Corporate Solutions have ...

Consumer Group Charges Auto Insurers with 'Disparate Treatment' of Low Income Families

A consumer group on Monday issued a study that alleges "disparate treatment" of low-to moderate-income families by auto insurers ...

Wellpoint Expands Offerings through Alliance with RLJ

Wellpoint and RLJ Insurace Services have developed a strategic alliance that will enhance and expand Wellpoint's supplier diversity ...

From MyNewMarkets.com Super (Insurance) Coverage for the Super Bowl

They say it's a game, but it's really a lot more than that. For football fans, the Super Bowl is every holiday rolled into one, especially...
Sponsored by: NSM Insurance Group. We have 25 years writing non-profits. Hospice, Boys and Girls Clubs, CAAs, Head Starts, Senior Services, MRDD/ARC, Charter Schools and Many More! Click here for more information.
East

Maryland High Court Sides With Allstate in Coastal Homeowners Case

The Maryland Court of Appeals, the state's highest court, ruled in favor of Allstate last week. It upheld a previous lower court's ruling ...

New Jersey’s New AG Changes Consumer Affairs Enforcement

New Jersey's new attorney general is reorganizing the enforcement arm of the state's Division of Consumer Affairs to crack down on crimes ...

Two Vermont Towns to Decide on Abandoned Asbestos Mine

Voters in Lowell and Eden are going to vote on whether to request that an abandoned asbestos mine be declared a federal Superfund hazardous ...
New from Insurance Journal Academy: Principles of Premium Auditing - presented by author and expert Chris Boggs - Register today and Join us online Feb 2.
Midwest

Kansas Ag Secretary Seeks Waiver for Illegal Immigrant Workers

Facing pressure from large dairies and feedlots desperate for workers, Kansas Agriculture Secretary Dale Rodman is seeking a federal waiver ...

Michigan-Based Amerisure Appoints Key Executives

Farmington Hills, Mich.-based Amerisure Mutual Insurance Co. announced a number of executive level appointments: Barbara Cristea, assistant ...

Top Ohio Insurance Fraud and Enforcement Cases for 2011

Ohio insurance regulators opened 233 insurance fraud cases last year, handled 1,678 agent misconduct cases, took administrative action ...
Southeast

MIssissippi Wind Pool Goes Shopping for Reinsurance in London

Members of Mississippi's wind pool board are in London this week to seek low reinsurance rates — a key factor in the cost of ...

Florida Investigating Cause of Multiple Car Pile-Up That Killed 10

Authorities in Florida are trying to determine what caused a horrific highway pileup where vehicles collided one after another on a dark ...

Tennessee University Apologizes for Foul Over Basketball Prize Insurance Claim

A Tennessee state university has apologized to an insurance company after representing that the insurer improperly denied a $20,000 prize ...

Florida Lawmaker Warns on Damages If Cuba Oil Drilling Spills

Since the United States couldn't stop Repsol from drilling for oil off Cuba's coast, it should make the Spanish oil giant pay dearly for ...

A.M. Best Downgrades Peachtree Casualty Due to Florida Auto Results

A.M. Best has downgraded the financial ratings of Peachtree Casualty Insurance Co., citing the insurer's poor underwriting results due in ...
South Central

Arkansas Family Sues Driver, Company Over Teen’s Death

The family of an Arkansas teenager who died after being hit by a tractor-trailer in Texas last year has filed a wrongful death lawsuit ...

Texas Mutual Pays $450K Dividend to NFIB Construction Group

Texas Mutual Insurance Co. announced a $450,058 workers' compensation dividend to the National Federation of Independent Business (NFIB) ...

Oklahoma Officials Learn Lessons from 2002 Ice Storm

Communications have been modernized, utility outage response has improved and emergency response officials in north-central Oklahoma are ...
Sponsored by: Texas Mutual Insurance Company. It's hard to think safety as bringing in revenue to a client, but that's exactly what it's doing. Click here for more information.
West

Toyo Tire Recalls Nearly 69,000 Tires

Cypress-based Toyo Tire U.S.A. Corp. is recalling nearly 69,000 tires because of a possible kink near the rim area that could cause a crack ...

Oregon GOP Pushes Limits on Medical Malpractice Liability

Republicans in the Oregon Senate say they'll fight Gov. John Kitzhaber's proposed overhaul of the Oregon Health Plan unless it includes ...

Utah Family Sues Pharmaceutical Company

The family of a late Hyde Park woman has sued a pharmaceutical company, claiming it made a faulty pain-relief patch that caused her death. ...

Arcing Power Lines Caused Big Nov. 18 Fire In Nevada

Fire investigators have confirmed arcing power lines caused the wind-blown blaze that destroyed dozens of homes in Reno in November. The ...

Above Normal Fire Season in Southern Arizona

Forest Service officials in southern Arizona are bracing for another bad fire season. Forest Service spokesman Heidi Schewel told the ...

Bill Targets Arizona Toll Road Evaders

Arizona does not have toll roads, but two state lawmakers have introduced legislation that would take the cars of suspected toll road ...

UCSB Police Seek Arsonist After Campus Fire

Police at the University of California, Santa Barbara say they are looking for an arsonist after a fire that badly damaged a trailer, a ...

Contractor Charged With Wage Theft, Other Charges

A painting contractor who had a number of contracts to work on San Francisco city and school projects is facing charges that she cheated ...

Whittemore Accused of Embezzling From Ex-Partners

Former business partners of Nevada developer and lobbyist Harvey Whittemore have sued him, claiming he embezzled and misappropriated more ...

County Defends Lockup after $22 Million Award

Dona Ana County officials are defending how they run their jail following a huge monetary verdict in favor of a former inmate. A federal ...

Court Delays Ruling On Honda Hybrid Suit

An unusual small claims lawsuit by a Honda hybrid owner took another complicated turn last week with additional arguments that prompted a ...

United Fire Group Names Sullivan West Coast Regional Manager

United Fire & Casualty Co. has named Ed Sullivan to West Coast regional manager for its regional office in Rocklin, Calif. In this ...

Heffernan in Orange County Names Albanese SVP, Benefits

Heffernan Insurance Brokers has hired Karen Albanese office as senior vice president in its Orange County, Calif. office, focusing on ...
International

French P/C Insurers’ Outlook Now Stable: Moody’s

In a new industry outlook published today, Moody's Investors Service says that it has changed the outlook for the French property and ...

UPDATE: Insured Loss Estimates from Thailand Floods

Last year's flooding in Thailand is shaping up to be one of the costliest natural disasters in history, with insured losses alone ...

Insurance Society to Team with UNEP for Sustainable Insurance

The International Insurance Society's (IIS) annual conclave in June in Rio de Janeiro will see the launch of an initiative in partnership ...

MetLife to Acquire Aviva’s Czech, Hungarian, Romanian Operations

MetLife, Inc. announced that it has agreed to acquire the life insurance businesses of UK-based Aviva plc in the Czech Republic (Aviva ...

Hurst-Bannister to Join Xchanging Ins-Sure Services Board

Global business processor Xchanging announced that Barnabas Hurst-Bannister will join the Xchanging Ins-Sure Services board as a ...

Ratings Roundup: Fuji Fire, Greenlight Re

A.M. Best Co. has upgraded the financial strength rating to 'A-' (Excellent) from 'B++' (Good) and the issuer credit rating to "a-" ...
Download Now: New from Insurance Journal Academy: The Real Effects of Granting Additional Insured Status - presented by author and expert Chris Boggs
Sponsored Content

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San Diego, CA, 01/31/12 - The 2012 Virtual Insurance Marketplace, sponsored by Direct Connection Advertising and Marketing, is excited to announce that all exhibitor booths ...

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New Discussions in the Forums

Farmers - your opinion
Posted: Mon Jan 30 -- WOW. Guess that says it all. Be like the Captian of that cruise ship - Save Yourself my former peers! FFA
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
Personal Quake Insurance - CA
Posted: Mon Jan 30 -- Looking for quake markets to cover personal residence in CA. HO value [Travelers] $438,000. Know of Geovera, Pacific Select, Pacific... 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
Ally Insurance Network
Posted: Thu Jan 26 -- Anyone have experience or thoughts about this group? It appears like some type of cluster of MGA but never heard of them... broberts1963

Reader Comments

Florida Lawmakers Reject Bad-Faith Reform Bill
Posted: Fri Jan 27 -- This is a draconian solution in search of a problem, said Cunningham No Mr. Cunningham what it Draconian is the law as it stands.... TN
Workers' Compensation Turn a Profit? Fahgettaboudit!
Posted: Tue Jan 24 -- NCCI has been pussyfooting around with this for he past two years in their annual updates state-by-state. They won't come out and say,"Hey,... NG
People Lie More When Texting
Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo
Consumer Group Charges Auto Insurers with 'Disparate Treatment' of Low Income Families
Posted: Tue Jan 31 -- The survey and it's authors clearly know very little about auto insurance, specifically the calculation of rates. The fact that they suggest... Former Status Quo
Climate Change Lawsuit in Court in Oregon
Posted: Thu Jan 26 -- Indeed, I see how many comments have been posted, the vast majority of them completely uninformed about how our legal system works,... The Other Point of View

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Excess, Surplus & Specialty Markets Directory Vol. I
January 23, 2012

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Principles of Premium Auditing (2-part series)

Certain exposures upon which the insurance premium is based cannot be definitively known at the beginning of the policy year, only estimated. Since the basis of premium is only estimated, the insurer is not positive they are receiving the correct premium for the insured exposure. To be assured that the insured paid the correct premium for the exposure covered by the insurance carrier, a premium audit is performed after the policy period ends.

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FEB 16: Builder's Risk / Contractor's Equipment - Learn about some of the most common mistakes made, and how to avoid them, when dealing with contractor's property insurance.

FEB 23: Secrets of Condos Property / Liability - Learn the key issues regarding the insuring of condominiums to avoid holes in either the association's or unit owner's coverage.

MAR 7: Insolvency Exclusions in E&O - If your agency has the Insolvency Exclusion in its E&O Policy, this webinar is for you!

MAR 8: Practical Workers' Compensation: What you need to know (4-part series) - Statutes, common law, contracts and the human element combine to produce a safety net for workers injured on the job.


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Insurance Journal TV: How Calif Agent Started His Agency

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January 31, 2012
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Jan 30, 2012

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Daily Headlines: Monday, January 30, 2012

Looking for Workers' Comp Markets? Click here for more information.
Insurance Journal Daily Headlines
January 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Flood Damage in 2011 May Make 2012 Worse Along Mississippi River

Damage from last year's record spring floods could leave many people along the Mississippi River in even more danger this year, the Army ...

Lawyers Jump Into Cruise Ship Disaster Cases

Soon after Mitchell Proner, a New York personal-injury lawyer, heard about the capsizing of the Costa Concordia off the coast of Italy, he ...

Agency Compensation Expected to Rise in 2012: Ward Group

Contingent commission payouts to insurance agencies are estimated to be 12 percent higher in 2012 than 2011, a new study says. The study by ...

Peers as Passengers Studies Support Graduated Licenses for Teen Drivers

Two new studies support the efforts of states in imposing restrictions on teen driving. Teens who drive with peers as passengers have ...

Best Revises AIG and Subs Outlook to Stable; Affirms Ratings

A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of "bbb" of American ...

Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings

In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of 'A' (Excellent) and ...

From MyNewMarkets.com Auto Insurers Find It Better to Forgive Than Lose Business

When insureds suffer a loss in most of the insurance market, they expect their rates to go up. However, insureds' expectations are changing...
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

N.J. Commissioner Considine to Leave Post, Will Be COO of MagnaCare

New Jersey Gov. Chris Christie announced this morning that Banking and Insurance Department Commissioner Tom Considine will leave his post ...

Chubb Says Commercial Renewal Rates Rose 6% in Q4, Up From 4% in Q3

Chubb Corporation said its commercial insurance renewal rates were up 6 percent in the 2011 fourth quarter, as the pace of renewal rate ...

New Jersey Residents Say Flood Buyout Programs Fall Short

State and federal programs offer homeowners in North Jersey's flood-ravaged areas a buyout. But the combination of red tape and limited ...
Midwest

Boron to Lead Illinois Department of Insurance

Illinois Gov. Pat Quinn has named a new top state insurance regulator. Andrew Boron has been appointed director of the Illinois Department ...

Businesses Oppose Proposed Ohio Fraud Legislation

Some Ohio businesses are opposing a bill backed by the attorney general that would create tougher penalties on fraud and give ...

Red River Valley Flood Risk Keeps Receding

The risk of significant flooding in the Red River Valley is down from recent years and even lower than last month's forecast due to the ...
Southeast

Mississippi Judge Weighs Government Immunity in Shooting Case

A Hinds County judge will decide if Mississippi governmental agencies are liable for the wounding of a bystander during a 2008 shooting. ...

Florida’s FCCI Names Executives for Texas, Maryland Expansion

FCCI Insurance Group has announced it is expanding its commercial insurance offerings into Maryland and Texas. The company has named ...

Georgia Jury Awards $2.3 Million in Kroger Customer’s Suit

A Gwinnett County, Georgia jury has awarded $2.3 million in damages after a judge determined that Kroger destroyed and manipulated key ...
South Central

Ex-BP Worker Files Whistleblower Suit Over Cleanup

A former BP employee has filed a whistleblower lawsuit against the company, claiming he was fired for airing concerns about the cleanup of ...

Federal Government Rejects Texas Insurance Waiver

The federal government has rejected a request by Texas to be excluded from a new law that limits how much health insurance companies can ...

Oklahoma Lawmakers File State Insurance Opt-Out Bill

Two Oklahoma lawmakers have filed legislation to increase the number of state employees who could opt out of state insurance coverage. The ...
West

Company Seeks Asbestos Liability Limit in Idaho

A bottle-cap maker weary of paying $700 million in asbestos claims has teamed with a conservative group in a state-by-state trudge to ...

Ex-Partners Cite Nevada Developer in Funds Lawsuit

Former business partners of Nevada developer and lobbyist Harvey Whittemore have sued him, claiming he misappropriated millions of dollars. ...

Drilling Rights Under Old Bomb Range Go For $137M

ConocoPhillips has tentatively agreed to pay Colorado $137 million for oil and gas underlying the old Lowry bombing range in Arapahoe ...

California Insurance Commissioner, Insurers Settle on Iran Investments

California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing ...
International

China’s Premier Says Government Debt ‘Controllable’; Promises Insurance Reforms

China's Premier Wen Jiabao said the nation's government debt is at an "overall safe and controllable" level, that funding for key projects ...

More Than Ever, Businesses Must Think ‘What If’

A tumultuous 12 months that saw revolutions in the Middle East, a worsening debt crisis in Europe and a tsunami in Japan has set the tone ...

China Plans to Turn Shanghai into Global Money Center

China laid out more specific plans to turn Shanghai into a global financial center by 2020, listing a series of targets for the next three ...

Strong Quake Jolts Eastern Japan

A strong earthquake with a preliminary magnitude of 5.5 jolted eastern Japan on Saturday morning, but there were no immediate reports of ...

Swiss Re’s Chief Economist Sees Fed Actions Calming Debt Crisis

Swiss Re's Chief Economist, Kurt Karl, has predicted that the decision by the Federal Reserve to maintain the target fed funds rate at zero ...

Arctic Ice Melt Lifts Hopes for Russian Maritime Trade

When severe snowstorms prevented life-sustaining fuel supplies from reaching the frozen Alaskan town of Nome, U.S. officials turned to a ...

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New Discussions in the Forums

Farmers - your opinion
Posted: Sun Jan 29 -- Letter below written by a Farmers Home Office employee, taken from the United Farmers Agents Association website, UFAA. Original article as... lonestar
How do you ask for a referral?
Posted: Fri Jan 27 -- Another way is to send an emai (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd
Ally Insurance Network
Posted: Thu Jan 26 -- Anyone have experience or thoughts about this group? It appears like some type of cluster of MGA but never heard of them... broberts1963
Virginia Surety Writer in CA
Posted: Thu Jan 26 -- I need to find a way to get to Virginia Surety Company in CA Gail
SOCAL Brush
Posted: Wed Jan 25 -- My suggestion is to move on. When you have prospects with brush issues in California and Travelers and Hartford (two of the more liberal... d's insurance store

Reader Comments

Lawyer Hits Jailing of Amish Men in Kentucky Over Buggies
Posted: Mon Jan 23 -- This isn't just an "Amish thing", it has to do with safety on the roadway..PUBLIC roadways. It's fine if the Amish want to put *their*... Susan
Mississippi Supreme Court to Hear Grocery Store Parking Lot Beating
Posted: Mon Jan 23 -- INSANITY prevails. Come on, an armed guard in the parking lot? What a ridiculous presumption of safety. Shame on the jury of me, women and... reality bites
Workers' Compensation Turn a Profit? Fahgettaboudit!
Posted: Tue Jan 24 -- NCCI has been messing around with this for he past two years in their annual updates state-by-state. They won't come out and say,"Hey,... NG
Florida Lawmakers Reject Bad-Faith Reform Bill
Posted: Fri Jan 27 -- This is a draconian solution in search of a problem, said Cunningham No Mr. Cunningham what it Draconian is the law as it stands.... TN
New Jersey High Court Clears County in Bicyclist's Death
Posted: Mon Jan 23 -- Sanity prevails! Seriously, a 1.5" deep hole? Tragic consequences indeed, but hardly an unnegotiable road hazard. Had it been a 1.5" bump,... reality bites

Current Issue

Current Issue
Excess, Surplus & Specialty Markets Directory Vol. I
January 23, 2012

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How to Advertise

For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148.
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Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2012 by Wells Publishing, Inc.