Apr 2, 2012

Daily Headlines: Monday, April 2, 2012

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Insurance Journal Daily Headlines
April 2, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Appeals Court Hears Fraud Claim Against Goldman, TCW Over CDOs

A U.S. appeals court was asked on Friday to decide whether Goldman Sachs Group Inc. and TCW Asset Management Co. should have foreseen the ...

FDA Denies Ban on Chemical BPA Used in Baby Bottles, Food Packaging

U.S. health regulators denied a request to ban a chemical used in water bottles, soup cans and other food and drink packaging, saying there ...

Bond Insurer Ambac Sues JPMorgan Over Mortgage Losses

Ambac Financial Group Inc., the bond insurer that last month won court approval to emerge from bankruptcy, has sued JPMorgan Chase & ...

Top Reasons Happy Couples File Wedding Insurance Claims

Vendor and venue problems are the most frequent causes of wedding day mishaps that result in insurance claims. Wedding insurance experts at ...

Marsh Acquires Cosmos Services, a U.S. Brokerage Unit of Itochu Corp.

Marsh, a wholly-owned subsidiary of Marsh & McLennan Companies, acquired Cosmos Services (America) Inc., the U.S. insurance brokerage ...

MMC’s Duperreault Named Chairman of Federal Advisory Committee

Marsh & McLennan Companies' CEO Brian Duperreault has been named chairman of the Federal Advisory Committee on Insurance (FACI). His ...

MetLife Auto & Home "Combo" Package Policy Expands into Three New States

MetLife Auto & Home has introduced its personal lines "combo" policy into three additional states. The policy combines auto and ...

Ratings Roundup: First Nonprofit, Central

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of 'A-' (Excellent) and ...

Special Report: Top 10 Innovative P/C Insurance Products

In the past few years, dozens of property/casualty insurers have announced innovative protections for risks involving new technologies, ...

From MyNewMarkets.com Four Steps to Improving Your Agency's Ranking on Search Engines

According to the Consumer Agent Portal, at least 75 percent of consumers head for the Internet first when searching for insurance. Let's say...
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East

Mass. Senate Candidate Warren Continues to Condemn AIG’s Tax Break

U.S. Senate candidate Elizabeth Warren from Massachusetts continues to criticize the government for granting American International Group ...

Virginia Officials Urge Earthquake Insurance Check

State officials are reminding homeowners to review their insurance policies to see if they have earthquake insurance ahead of a new law ...

CEO of Pennsylvania Insurer Highmark Charged With Assault

The chief executive officer of a major western Pennsylvania insurance company is facing charges of simple assault and defiant trespass ...

Mass.-based Soderberg Insurance Hires Account Representative

Soderberg Insurance Services of Lynnfield, Mass., appointed Johanna Vasquez as account representative. In her new position at the agency, ...
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Midwest

Missouri Senate Votes to Override Veto on Workers’ Comp

The Missouri Senate has voted to override Gov. Jay Nixon's earlier veto of a bill that would change workers' compensation laws by barring ...

Corps Seeks Dismissal of Missouri Breached Levee Lawsuit

The U.S. Army Corps of Engineers is seeking dismissal of a lawsuit brought on behalf of more than 140 southeast Missouri farmers over ...

Minnesota DOT Announces Flood Mitigation Projects

Minnesota transportation officials have announced eight flood mitigation projects to be built over the next five years. The Minnesota ...

Bill Would Help Illinois Residents Hit by Storm Damage

Southern Illinois property owners trying to rebuild after tornadoes and storms that hit in March would get a tax break under a bill passed ...

Number of Teens Getting Licenses at 16 Dropping in Indiana

As soon as he was old enough, Blake Whitson, a senior at Jefferson High School in Lafayette, Ind., couldn't wait to get behind the wheel. ...
Southeast

Florida Supreme Court to Decide on Medical Malpractice Caps

The fate of Florida's caps on damages in medical malpractice cases now rests with the state's high court after attorneys on both sides ...

Mississippi House Sends Workers’ Comp Bill to Senate

Mississippi House members now favor changes to the state's workers' compensation system after previously voting against them. House members ...

Kentucky Warns Storm Debris May Contain Asbestos

Storms in recent weeks in Kentucky have produced mounds of debris, and the state Division for Air Quality is recommending that people ...

Florida Governor Signs 3 Negligence Claims Bills

A man and a boy who suffered brain damage due to government negligence and the parents of a slain police informant will be compensated ...
Insurance Journal Magazine: 50 Awesome Social Media Ideas for Agencies
South Central

National Lloyds, American Summit Insurance Ratings Affirmed

A.M. Best Co. has affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of "a+" of National ...

Strauss to Lead Texas Insurance Automobile Insurance Plan Assoc.

The Texas Insurance Automobile Insurance Plan Association has announced the election of officers for 2012-2013. Long-time board member Fred ...

Tiny Gulf Coast Town Struggling with Ike Recovery

Every spring, Karen Littlejohn boxes up her family's winter clothes in their FEMA trailer, shuttles them to a tiny, dank room at church, ...
West

Colorado Sheriff Notes Problems With Fire Warnings

The search for a Colorado woman missing in a wildfire has been suspended after rescuers found human remains in her burned home. Jefferson ...

N. Idaho Train Derailment Blamed On Soggy Ground

A Union Pacific spokesman says a southbound train derailed eight miles north of Sandpoint in northern Idaho after saturated soil gave way ...

Arson Blamed In Hawaii Fire That Killed 97-Year-Old Woman

Investigators have determined that a fire that killed a 97-year-old Pearl City, Hawaii woman early Friday morning was intentionally set, ...

Arizona Oks Paperless Option on Insurance Proof

Arizona motorists will be able to use their smart phones to prove to a police officer that they have insurance for their vehicles. Gov. Jan ...

Colorado Wildfire Nearing Full Containment

A blaze that may have been sparked by a prescribed burn conducted by the Colorado State Forest Service and ignited by high winds on Monday ...
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International

Aon Completes Strategic Move to London

Aon Completes Strategic Move to London Aon announced that is now officially a 'plc (public limited company; i.e. a corporation) and that it ...

PwC, CBI Survey Finds, Growth ‘Modest Optimism’ in UK Financial Services

A new survey, released by PricewaterhouseCoopers LLP (PwC) and the Confederation of British Industry (CBI) highlights an 'unexpected rise ...

PERILS Updates Europe Industry Exposure Database for 2012

PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has updated its Europe ...

MICC Urges MENA insurers to Become National Champions, Regional Players

A recent bulletin points out that the 'future of the MENA [Middle East North Africa] Insurance market remains bright, but the local ...

Ratings Recap: Solid, Jevco, Argus Group, Munich Re (bonds)

A.M. Best Europe Rating Services Limited has upgraded the financial strength rating to 'B++' (Good) from B+ (Good) and the issuer ...
Insurance Journal Blogs

The New Facebook Timeline Layout: What You Need to Do

It's time for timeline. Whether you wanted the new look or not, Facebook just switched your business page over to the new 'timeline' ...

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Insurance Journal TV

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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

Pet Cremation
Posted: Sat Mar 31 -- This is not insurance for pets. Our insured runs a busines that cremates dead animals. from cats to horses. I need a good admitted carrier... JAM
Native American Reservation and casino
Posted: Fri Mar 30 -- There is an MGU in San Diego called 'Tribal First' that specializes in American Indian casino risks. You may wanto to contact them. LadyBroker
Home Warranty
Posted: Fri Mar 30 -- Anyone know of Home arranty companies that will pay comissions to agents. When I was captive we used to get 20% from AHS. I have not found... JAM
EOI Request for Refi
Posted: Fri Mar 30 -- Thanks for the reply. Guess we all just muddle along (sigh). TiredAgent
Start up Agency Advice
Posted: Fri Mar 30 -- a company rep is going to not like cluster because any rating tool makes their company stay on their toes with rates to keep getting new... mattnewtonberger
1 or 2 Dwellings? - CA
Posted: Wed Mar 28 -- Part One: We recently aquired a book of business (including the bad stuff, part of the deal) in Oakland, California. One of the risks has... TiredAgent

Reader Comments

Supreme Court Begins Healthcare Law Debate
Posted: Mon Mar 26 -- Let the games begin. Whatever side you are on, this will be an historic event. A reminder that while our system is still not perfect, it is... original bob
Facebook, Lawmakers Warn Employers Not to Demand Passwords
Posted: Mon Mar 26 -- I would love a list of the companies that are asking for facebook passwords. As a consumer, I might choose not to buy their products or... NotOpinionated
6 Ways Supreme Court Could Rule on Healthcare Law
Posted: Mon Mar 26 -- The Supreme Court when it upholds PPACA is able in its decision to properly define our national health insurance problems. Approval of... Thinking Producer
Supreme Court Hears More Healthcare Law Arguments
Posted: Wed Mar 28 -- Why is the supreme court talking politics? If the conservatives stick together it could be brought down, but if any go with the liberals,... Baxtor
N.Y. Court to Unemployed Law School Grads: Buyer Beware
Posted: Tue Mar 27 -- Delusional ! How are they different than any other post graduate in this economy? What is the legal world coming too? dreamer

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April 2, 2012

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