Daily Headlines: Wednesday, February 29, 2012

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February 29, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Taxpayers See Gain As New York Fed Sells Last of AIG Bailout Bonds The Federal Reserve Bank of New York on Tuesday sold the remaining portion of mortgage-backed securities acquired in the 2008 rescue of ... BP Seeks Settlement with Oil Spill Plaintiffs BP Plc is seeking to settle a lawsuit over the massive 2010 Gulf of Mexico oil spill by tapping into a $14 billion fund it set aside to ... Moody’s Must Face Whistleblower Analyst’s Retaliation Claim Moody's Investors Service was ordered to defend against a lawsuit by a whistleblowing former analyst who claimed it illegally retaliated ... Low-Cost Online Commercial Lines Quoting Tool for P/C Agents 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 ... California Earthquake Authority Kicks Off Marketing Program for Agents The business of selling earthquake insurance to homeowners in California may have just gotten a bit easier. The California Earthquake... More National News East Free Speech Suit Settled in Massachusetts School Bullying Case A Massachusetts man has settled a federal lawsuit that claimed his free speech rights were violated when he was removed from a public ... 2 Baltimore Attorneys Sue Facebook Over Privacy Two Baltimore law firms have filed a lawsuit against Facebook, arguing that the site has violated privacy laws. The Daily Record of ... More East News Midwest United Fire Group Appoints Phillips to Board; Sullivan Named VP United Fire Group Inc., headquartered in Cedar Rapids, Iowa, appointed Michael W. Phillips to its board of directors and named Ed Sullivan ... $5.6M Recovered for North Dakota Insurance Consumers in 2011 North Dakota Insurance Commissioner Adam Hamm reported that more than $5.6 million was recovered or saved for North Dakota citizens in ... Illinois Officials to Promote Weather-Radio Use Illinois officials are urging residents to prepare for the threat of severe weather that accompanies the spring season. This year ... Insurance for Bonds Among Changes Sought by Missouri Lawmakers Several Missouri lawmakers want to add requirements for officials involved in economic development projects. A House panel heard testimony ... More Midwest News Southeast West Virginia Bill Requires Insurance Disclosure West Virginia's House of Delegates has approved a bill requiring insurance companies to provide policy information in advance of claims. ... North Carolina Lawmakers Look to Tackle Copper Theft Lawmakers in western North Carolina are looking to make it tougher for copper thieves to sell scrap metal, and they're getting creative ... Mississippi County’s Funds for Flood Property Buybacks Remain Unspent The state of Mississippi has asked Hancock County for $6 million in funds not spent on a "property acquisition'' project. The project is a ... More Southeast News South Central Hackings, Emails Shine Rare Light on Texas-Based Intelligence Firm Austin, Texas-based private intelligence analysis firm Strategic Forecasting Inc (Stratfor) was paid by Coca-Cola to gauge the threat of ... Republic Cos. Names Mattingly President/CEO Dallas-based Republic Cos. has named Joseph E. Mattingly to serve as president and chief executive officer. Since 2006 Mattingly has served ... Crime Prevention Campaign Joins Forces With Another Texas Town The Insurance Council of Texas (ICT) has joined with the Grand Prairie Police Department in a crime prevention campaign aimed at preventing ... Denham Springs, Louisiana Adopts New Flood Regulations The Denham Springs, La., City Council has approved changes to its flood ordinances. The Advocate reports the Federal Emergency Management ... More South Central News West 1-5 Percent Of Tsunami Debris Could Reach West Coast Tsunamis generated by the magnitude-9 earthquake in Japan last March dragged 3 million to 4 million tons of debris into the ocean after ... Grade Dave Jones, California Insurance Commissioner Insurance Commissioner Dave Jones marked his first full year in office last month by looking back on his and the California Department of ... Colorado May Criminalize Withholding Wages Withholding wages from an employee could become criminal in Colorado under a bill being debated at the state Legislature. A House committee ... Disabled Vet Gets $20k in Utah Service Dog Dispute A disabled Gulf War veteran is getting a $20,000 settlement in a federal lawsuit claiming he was repeatedly fined for keeping a companion ... Equipment Failure Blamed For BP Washington Refinery Fire The manager of BP's Cherry Point refinery in Washington says a fire earlier this month was most likely caused by equipment failure. A ... California Department of Insurance Files Action Against Zurich The California Department of Insurance initiated an administrative enforcement action against two insurers – Zurich American Insurance ... California Commissioner Jones Announces Settlement for Earthquake Policyholders The California Department of Insurance has settled a noncompliance action against GeoVera Insurance Co. following a 2010 investigation into ... More West News International China Higher Court Hears Apple’s iPad Trademark Claim Lawyers for Apple Inc. argued for its right to use the iPad trademark in China on Wednesday, as a higher court began a crucial hearing that ... Arbitrators Agree to Hear Chevron-Ecuador Pollution Liability Case An international tribunal has found that it has jurisdiction to decide if Ecuador violated a treaty with the United States requiring it to ... More International News Sponsored Content The Suitelife by Venture Programs is an exclusive insurance solution for the hospitality industry, serving resorts and premier hotels. Check it out. More Sponsored Content Join the Insurance Journal Network Insurance Journal TV Should D&O Cover Bribery? Director and officers liability coverage is increasingly being called up to respond to cases... Watch Now Chartis CEO Hancock on Fear, Regulation, Science and Expenses Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Travelers Insurance in CA Posted: Wed Feb 29 -- Has anyone else been restricted to writing package business for Travelers personal insurance in CA? steve32 Questions about starting an MGA Posted: Tue Feb 28 -- Thanks DM. I actually called around and got a quote for about $5,000, which is MP I was told. I was expecting that. paulbennings CA Electrical Contractor BOP/GL Posted: Tue Feb 28 -- There are any number of Preferred carriers (Allied, CNAInsurance) who write commercial contractors. Have you checked with your Direct... LadyBroker Full-service boutique brokerage and invest Posted: Tue Feb 28 -- I have a buddy of mine who is about to open is own Full-service boutique and brokerage and investment firm. He was also thinking of... CoJones How have you Benefited from your Cluster Membership? Posted: Tue Feb 28 -- I want to Ditto what SACMAN had to say --- I am a former FIG agent for 22 years, Farmers divorced me. I thought briefly about staying away... William Graham is being profitable in NJ ever become reality? Posted: Tue Feb 28 -- Hello All, I wanted to get some input/comments from others in the insurance industry to see what they are seeing in regards to this issue... bjwestner Identity Theft Insurance Posted: Tue Feb 28 -- If you want to sell it you should get in with Harvard Benefits. Working for them is kind of a scam from what I've read online as it seems to... bjwestner Facebook Posted: Mon Feb 27 -- As these last notes came up as comments on the latest IJ news email, I went back to read (ok, I skimmed) this post from its origin a few... JasonBHBCo Go to Forums Reader Comments '100-Year Storms' May Happen Every 3 to 20 Years: MIT-Princeton Research Posted: Wed Feb 22 -- I'll bet JamesTR is the kind of guy who loves to listen to himself talk. Can you imagine having to sit anywhere near that gasbag at work? NoGWsince98 Parents of Child Born With Cystic Fibrosis Sue Posted: Tue Feb 28 -- Coming form someone who has tried for 3 years to get pregnant, this story is sad & disgusting to me. If the average age of death is 37, how... so sad Pennsylvania Township, Schools Pay $63K to Banned Fan Mom Posted: Fri Feb 24 -- It really should be mandatory that parents be given a tranquilizer before they are allowed to watch their kid play sports. Anejo Pennsylvania Christian College Sues Over Birth Control Regs Posted: Thu Feb 23 -- All IRC section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: their net earnings... The Other Point of View Mom Sues UC Over Son's Overdose at UC Berkeley Posted: Mon Feb 27 -- Let's see....He was an adult (21), his mommy wants to blame the people that own the building for not acting like his mommy. I'm missing... csp Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Agency Salary Survey; Boats & Marinas; Agribusiness / Farm & Ranch February 20, 2012 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 Casualty Claim Representative/Senior Casualty Claim Rep. Broker/Assistant Broker Producer, Commercial Lines Insurance Producers 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. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.

Daily Headlines: Tuesday, February 28, 2012

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February 28, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Social Media Patent War Looms as Yahoo Threatens Facebook Yahoo has demanded licensing fees from Facebook for use of its technology, the companies said on Monday, potentially engulfing social media ... In Win for BofA, $8.5B Mortgage Settlement Sent Back to New York Court Bank of America Corp. won a victory when a U.S. appeals court ruled that a proposed $8.5 billion settlement with investors in ... Supreme Court Weighs Foreigners’ Claims Against Corporations Corporations and human rights groups are squaring off in a Supreme Court fight over whether foreign victims of war crimes, killings and ... Navigators Launches Wholesale Unit Navigators Management Company Inc. (NMC) has launched a new operating unit that will focus on working exclusively with wholesale brokers in ... Surplus Lines Analysis: Multistate Clearinghouse Economics Don’t Work Recent data from Florida indicate that the economics for a multistate surplus lines tax allocation clearinghouse are unworkable. There ... California Earthquake Authority Kicks Off Marketing Program for Agents The business of selling earthquake insurance to homeowners in California may have just gotten a bit easier. The California Earthquake... More National News East Insurance Fight Shows Catholic-Evangelical Ties After the White House decreed this month that religious employers would have to pay for workers' birth control, it was no surprise that ... Penn. Insurance Department Forms New Health Insurance Assistance Unit The Pennsylvania Insurance Department announced last week it has formed a new consumer unit to respond to questions about health insurance. ... March 5 Deadline to Register for Virginia Quake Aid A deadline is approaching for victims of the Aug. 23 earthquake to register for federal disaster aid. March 5 is the last day for ... N.J.-based Prudential Group Insurance Names Chief Information Officer Prudential Group Insurance, a unit of Prudential Financial in Newark, N.J., appointed Joseph Hayes vice president, information systems and ... More East News Midwest Auditor Questions Tax-Exempt Status of Missouri Employers Mutual Releasing an audit of a tax-exempt workers' compensation insurer in Missouri, State Auditor Tom Schweich called for the legislature to ... Calkin Promoted to Divisional President at Great American Insurance Cincinnati, Ohio-based Great American Insurance Group has promoted Mark Calkin to divisional president of its trucking division. Calkin has ... Iowa-Based Petroleum Marketers Management Insurance Upgraded A.M. Best Co. has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to "a-" from ... Nebraska Bill Would Create Disaster Housing Fund Nebraska needs to create a temporary housing fund to help people who lose their homes to flooding, tornadoes and other natural disasters, a ... More Midwest News Southeast Florida May Change Citizens’ Policyholder Assessments Funding for the Florida's state-run property insurer is likely to change as state lawmakers are looking to access the insurer's total ... Eastern Kentucky Fire Departments Struggle to Find Volunteers Fire departments in eastern Kentucky are struggling to find enough volunteers. Pike County Emergency Management Director Doug Tackett told ... More Southeast News South Central Independent Agency System Marked by Changes and Challenges Robust merger and acquisition activity, carrier relocations and an aging workforce are influencing independent insurance agencies in ways ... Oklahoma Bill Would Ban Alcohol Sales at Self-Checkout Stands An Oklahoma state lawmaker has filed legislation aimed at curbing the sale of alcohol to minors by requiring face-to-face interaction for ... Lafayette, Louisiana Council to Consider Safety Tax A proposal for a new half-cent sales tax for public safety will be back before the Lafayette, La., City-Parish Council after members last ... More South Central News West Colorado Revisits Marijuana DUI Standard A divisive driving-while-high bill is back before the Colorado Legislature as senators revisit a measure to say how much marijuana can ... Parents of Child Born With Cystic Fibrosis Sue The parents of a child born with cystic fibrosis have filed a lawsuit against health care providers saying they would have terminated the ... Light Earthquake Felt in Alaska Communities Seismologists say a light earthquake struck Alaska's east-central region and was felt in several communities. The Alaska Earthquake ... Corrections Department Settles Federal Lawsuit A federal sex-discrimination suit has been settled between the Arizona Department of Corrections and the U.S. Department of Justice. The ... 12.8M Verdict for Washington Firefighter’s Fall Upheld The Washington state Court of Appeals has upheld a verdict of nearly $13 million for a Seattle firefighter who was severely injured when he ... Roush Joins B & B in Southern California Stephanie Roush has joined Agoura Hills based B & B Premier Insurance Solutions Inc. as an account executive. Roush, who specializes in ... More West News International World Bank Says China Must Embrace Market Economy China's economy is near a turning point that demands that it relax its grip on industry and move towards free markets, the World Bank said ... UK Singer Church Settles in Murdoch Hacking Case Charlotte Church, who testified about being hounded by Rupert Murdoch's journalists when she was a teen singing sensation, has received ... Willis Peru Sells 49.9% Stake to Credicorp in Partnership Move Willis Europe BV, a subsidiary of global insurance broker, Willis Group Holdings plc, and Peruvian financial services group Credicorp Ltd, ... Former BUPA Head Gooding Joins XL Board XL Group plc announced that Valerie F. Gooding has been appointed to the Company's Board of Directors, effective at the April board ... More International News Sponsored Content Prime Names New President Chicago, IL and Salt Lake City, UT, 02/23/12 - Prime Insurance Company, a premier excess and surplus lines carrier announced today that ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV Chartis CEO Hancock on Fear, Regulation, Science and Expenses Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the... Watch Now Lobbyist Norwood Analyzes Consumer Watchdog Legislation John Norwood is one of California's best known legislative advocates for the insurance and... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums How have you Benefited from your Cluster Membership? Posted: Tue Feb 28 -- I want to Ditto what SACMAN had to say --- I am a former FIG agent for 22 years, Farmers divorced me. I thought briefly about staying away... William Graham Is being profitable in NJ ever become reality? Posted: Tue Feb 28 -- Hello All, I wanted to get some input/comments from others in the insurance industry to see what they are seeing in regards to this issue... bjwestner Identity Theft Insurance Posted: Tue Feb 28 -- If you want to sell it you should get in with Harvard Benefits. Working for them is kind of a scam from what I've read online as it seems to... bjwestner Facebook Posted: Mon Feb 27 -- As these last notes came up as comments on the latest IJ news email, I went back to read (ok, I skimmed) this post from its origin a few... JasonBHBCo Questions about starting an MGA Posted: Mon Feb 27 -- Thanks all. I really appreciate all the comments and help. This is such a useful forum. Ron, I emailed your company earlier today about your... paulbennings Should I accept Allied Appointment? Posted: Mon Feb 27 -- I was looking into Allied to add to my agency. Thank you all for the great input. insurancedad CA Electrical Contractor BOP/GL Posted: Thu Feb 23 -- Looing for markets for an electrical contractor, al work is interior commercial nothing over 2 or 3 stories. no new construciton or... joey52 Go to Forums Reader Comments '100-Year Storms' May Happen Every 3 to 20 Years: MIT-Princeton Research Posted: Wed Feb 22 -- I'll bet JamesTR is the kind of guy who loves to listen to himself talk. Can you imagine having to sit anywhere near that gasbag at work? NoGWsince98 Pennsylvania Township, Schools Pay $63K to Banned Fan Mom Posted: Fri Feb 24 -- It really should be mandatory that parents be given a tranquilizer before they are allowed to watch their kid play sports. Anejo Pennsylvania Christian College Sues Over Birth Control Regs Posted: Thu Feb 23 -- All IRC section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: their net earnings... The Other Point of View Mom Sues UC Over Son's Overdose at UC Berkeley Posted: Mon Feb 27 -- Let's see....He was an adult (21), his mommy wants to blame the people that own the building for not acting like his mommy. I'm missing... csp Oregon Jury Awards $25M In Smoker's Death Posted: Tue Feb 21 -- Smokers know the danger of smoking. Awarding them millions of dollars is silly. I am a smoker and I KNOW the possibilities that go along... Sherry Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Free Webcast: Learn how to reach mobile consumers and social media users. Wednesday, March 28 Time: 11:00AM PT / 2:00PM ET Current Issue Agency Salary Survey; Boats & Marinas; Agribusiness / Farm & Ranch February 20, 2012 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 Broker/Assistant Broker Producer, Commercial Lines Insurance Producers Commercial or Personal Lines Insurance Producer 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. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.

One of the Fastest Growing Segments in the Insurance Industry

New training from Insurance Journal's Academy of Insurance. Register today! Having trouble reading this email? View it as a webpage. Not interested anymore? Unsubscribe instantly. What to Know about Security and Privacy and the Policies that Insure it Security and Privacy is one of the fastest growing segments in the Insurance Industry. With a number of different companies offering some type of coverage, it's important to know what your client needs and how to ensure that your clients have adequate coverage. In this webinar, Fred Fisher discusses different effects the State and Federal laws and regulations have and how best to protect yourself and your clients. Click Here to Register What you will learn in this webinar: State and federal laws and how they affect us What you can do to protect yourself How to insure security and privacy When you register, you get: Access to the live webinar Video and audio recordings, so you can watch or listen again Question & Answer session with the instructor Audio download of the webcast Presentation slides download Join us this Thursday, March 1st for this one-hour training webinar. (PLUS, all registrants will receive video and audio recordings of the webinar, so you can listen/watch again at your convenience.) Space is limited! Click Here to Reserve Your Spot! Regularly priced at $129.00, just $89 when you register today! (special pricing expires February 29th) Have questions or need help? Send an email to webcasts@insurancejournal.com or call Barbara at 800-897-9965 x166. Date: Thursday, March 1st Time: 1:30pm ET / 10:30am PT Duration: 1 Hour Price: Save $40 until Feb. 29th! Register today for just $89! Click Here to Register Instructor: Fred Fisher Agency executive, industry leader and widely published author. More Great Training: 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. MAR 14: Learn How to Use DISC to Win Business - The DISC personality behavior model is an effective tool that allows you to identify your customer's preferred communication style - quickly establishing a positive connection. Once you understand your client's preferences, you can tailor your presentations and target your message to meet their needs. MAR 15: Practical Workers' Compensation: Employees, Contractors and Contractual Risk - Who qualifies as an "employee?" This session dissects employee/employer relationships to avoid surprises following a loss or at audit. MAR 21: Preparing an Underwriting Submission - Do you know how to get the most favorable consideration and pricing for your client? Send to a Friend | Contact Us | Subscribe | Unsubscribe | Privacy Policy Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.

Insurance Journal TV: Should DO Cover Bribery

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February 28, 2012 Feature Video Should D&O Cover Bribery? Director and officers liability coverage is increasingly being called up to respond to cases involving the Foreign Corrupt Practices Act. Is this right? Susanne Murray, an... Watch Now Popular Videos Alaska Insurance Director Linda Hall Chartis CEO Hancock: P/C Praise for Regulators, Plaintiffs' Bar More Insurance Videos Watch InsuranceJournal.tv Subscribe to our iTunes Channel Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.