Mar 20, 2012

Daily Headlines: Tuesday, March 20, 2012

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Insurance Journal Daily Headlines
March 20, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Willis Among Targets of Stanford Third Party Class Actions

Victims of Allen Stanford's estimated $7 billion Ponzi scheme won a victory when a federal appeals court said they may pursue class-action ...

4 GOP-Appointed Justices Control Obama Health Law’s Fate

Here's a thought that can't comfort President Barack Obama: The fate of his health care overhaul rests with four Republican-appointed ...

Lawsuit Against Berkshire Hathaway Over Sokol Trades Dismissed

Berkshire Hathaway won dismissal on Monday of a shareholder lawsuit that stemmed from allegations former executive David Sokol profited by ...

From MyNewMarkets.com Commercial Lines Pricing Up for 4th Straight Quarter

Commercial insurance prices increased an aggregate 3 percent during the fourth quarter of 2011, the fourth consecutive quarter during which...
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East

Del. Regulators Advise Homeowners to Create Detailed Home Inventory

Delaware insurance regulators say failing to create a detailed home inventory can put homeowners at risk for inadequate home insurance ...

Company Pleads Not Guilty in Virginia to $670M Fraud

A Costa Rican company accused of a $670 million insurance fraud scheme has pleaded not guilty in federal court in Richmond, Va. Defense ...

Report Cites Dangerous Dust at NYC Site

A report has found that an air sample taken underground at the Second Avenue subway construction site had excessive levels of a dangerous ...

AmWINS Announces Promotion in Philadelphia Office

AmWINS Group Inc. promoted Matt Szkotak to branch leader of AmWINS Brokerage of Pennsylvania, located in Philadelphia. Szkotak has been ...

Boston-based AIR Worldwide Appoints VP in Business Development Group

Boston-based catastrophe risk modeling firm AIR Worldwide appointed John Elbl as vice president in its business development group. He joins ...
Midwest

Public Insurance Adjusters Told to Stop Soliciting Business in Indiana

Indiana Insurance Commissioner Stephen W. Robertson has ordered a public adjusting business to cease and desist from transacting insurance ...

Insurer Group: Wisconsin Lawmakers Pass Business Friendly Legislation

Despite a contentious legislative session, Wisconsin lawmakers successfully passed many bills that will help consumers and improve the ...

New Members Appointed to Illinois Self Insurance Advisory Board

Illinois Workers' Compensation Commission Chairman Mitch Weisz has made two new appointments to the Illinois Self-Insurers Advisory ...
Southeast

Websites Reunite Tornado Victims with Lost Belongings

There were a yellow football jersey, wrinkled prom photos, canceled checks and a birth certificate. There were wedding photos and pages ...

Mississippi Supreme Court Denies Appeal In Road Sign Case

An appeal from Don F. McElroy, who claims he is owed compensation from Simpson County for injuries he suffered in a 2004 accident, won't be ...
South Central

Texas Manufacturer Cited Following Employee Amputation

A Texas manufacturer has been cited for willful and serious safety violations after an employee reportedly suffered an amputation at the ...

Two Named to Louisiana Workers' Comp Corp. Manager Positions

Louisiana Workers' Compensation Corp. (LWCC) has filled two key management positions. Brent Toups is the company's new business unit ...
West

Long Joins Champion in Southern California

Del Mar, Calif.-based Champion Risk & Insurance Services, L.P. an affiliate of Wood, Gutmann & Bogart Insurance Brokers, named ...

Los Angeles Fire Agency to Fix Emergency Dispatch Glitches

The Los Angeles Fire Commission has allocated emergency funds to fix glitches in the city's emergency response system that are delaying the ...

Triwest in Arizona Loses Military Health Benefits Contract

Phoenix, Ariz.-based TriWest Healthcare Alliance has lost a $20.5 billion contract to manage health benefits for U.S. military families, ...

Poms Acquires Stone, Harris & Stone in California

Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. acquired Stone, Harris & Stone, a division of Brown and ...
International

EU Fails to Agree on Exemptions for Iran Oil Transport Insurance

European Union diplomats on Tuesday postponed a decision on whether to grant any exemptions to insurance provided for Iranian crude ...

ABI Calls for Lawsuit, Health and Safety Regs Reform to Help UK Business

The Association of British Insurers (ABI) has issued a call "for action to free businesses from the fear of the UK's compensation culture ...

Brazilian Prosecutor to Charge Chevron Cannot Stop Oil Leak

A Brazilian prosecutor plans to allege this week that U.S. oil company Chevron has no way to stop a leak in an offshore oil field caused by ...

FSA’s Chief Executive Sants to Step Down in June

Hector Sants, the chief executive of the UK's Financial Services Authority (FSA), has announced his intention to leave the organization at ...

Starr Companies Granted Singapore License; Tat Yoong Named Principal Officer

Starr Companies announced that it has received a direct general license from the Monetary Association of Singapore (MAS) to operate as a ...

Aon Benfield, Build Assure Launch Latent Defects Product for Builders Federation

Build Assure, a trading name of the National Register of Warranted Builders, a subsidiary of the Federation of Master Builders (FMB), has ...

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Claims Rising for Private Company, Non-Profit D&O Coverage

Private company and non-profit D&O coverage is often seen as very profitable for carriers...
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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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New Discussions in the Forums

Herbalife
Posted: Tue Mar 20 -- I was wondering what insurance companies thought of the popular "Herbalife." Autumnle465
Good company for Coast to Coast Truck Drivers
Posted: Mon Mar 19 -- If you are a member of your PIA (Professional Insurance Agents Association), you can phone them up (or email) and typically they hold a list... dm307799
EIFS coverage homes & commercial buildings/FL
Posted: Thu Mar 15 -- these building risks have existing EIFS which makes obtaining coverage in SW FL difficult... Thank you haharem
Partnership Questions
Posted: Wed Mar 14 -- Taylyn, we opened an IA after being a captive for 22 years- we elected to go with an SIAA relationship - we went with them because of... William Graham
Farmers - Loss Runs - Fax NumbeR?
Posted: Tue Mar 13 -- I don't know what state your agency is located, California, "REQUIRES BY CODE" loss runs be sent to an insured within 10 days of the request... CSP
Meals on wheels - insured with Farmers currently
Posted: Sat Mar 10 -- hi ladybroker Thanks for your responses.. and everyone else as well.. Philadelphia seems to be the market to take this on. Well.. it turns... meytai

Reader Comments

Administration Issues Rules for State-Run Health Insurance Exchanges
Posted: Tue Mar 13 -- Hopefully, these exchanges will not go into force if we get repeal through either the Supremes or the new President. Mike
'Super Losses' in Healthcare Sector Growing in U.S.: Hiscox
Posted: Tue Mar 13 -- How about some Tort Reform? There is no way they should be having awards like this. It is a big factor in the cost of healthcare and all... Agent
Michigan Catastrophic Injury Premium to Go to $175 Per Car
Posted: Mon Mar 19 -- The MCCA is a joke. How about everyone in Michigan take some personal responsibility and purchase health & disability coverage, and then cap... DAN
Florida Passes PIP Reform Bill
Posted: Thu Mar 15 -- I've been an insurance agent for 35 years, and you are not entirely correct in your post. While basic PIP pays 80% of medical expenses up to... Kevin L
RIMS Commends N.Y. Broker Compensation Disclosure Ruling
Posted: Thu Mar 15 -- RIMS is such a perfect acronym for that group of elitist blowhards that have no idea what 99% of licensed small agents and brokers do... Not Yank Ken U Chain

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March 19, 2012

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