Apr 4, 2012

Daily Headlines: Wednesday, April 4, 2012

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Insurance Journal Daily Headlines
April 4, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Large Insurers Anxious As Financial Council Finalizes Systemic Risk Rule

The U.S. financial risk council approved a final rule on Tuesday laying out how it will decide which financial companies outside the ...

Facebook Launches Patent Counterclaim Against Yahoo

Facebook fired back on Tuesday in its legal battle with Yahoo by accusing the Web pioneer of infringing 10 of Facebook's patents, according ...

P/C Insurance Technology Vendor FirstBest Gets $10 Million

Property/casualty insurer technology vendor FirstBest Systems Inc. said it has completed $10 million in funding. With the new round, ...

Berkley Corp. Forms Berkley Public Entity Managers

W. R. Berkley Corp. has formed Berkley Public Entity Managers, LLC, which will offer coverages to self-insured public entities -- ...

Chartis Introduces CyberEdge Tower

Chartis has introduced CyberEdge Tower, an insurance product that provides catastrophic network security and privacy protection. It ...

160-Year Old Hanover Retaking Its Place as P/C Industry Leader

Eight out of 160 years of history may not seem like a big deal but for Hanover Insurance Group, founded in 1852, the last eight years have ...

From MyNewMarkets.com One Way or Another, Healthcare Reform Will Challenge Medical Malpractice Market

The Supreme Court justices hold the fate of the Patient Protection and Affordable Care Act of 2010 in their hands, but that hasn't stopped...
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East

Former Zurich CEO Schiro Named Lead Director at Goldman Sachs

The Goldman Sachs Group, a global investment banking and securities firm, said it appointed former Zurich Financial Services CEO James J. ...

Va. DOT Contractor Pleads Guilty to Fraud, Used Uninsured Vehicles

A Staunton contractor accused of defrauding the Virginia Department of Transportation has pleaded guilty to commercial fraud. ...

Great American Insurance Group Opens Regional Office in New York

Great American Insurance Group's environmental division opened a regional office in New York City. The expansion complements the ...

Broker Admits Funneling Over $1M in Bribes to N.J. School Official

A Maryland insurance broker has admitted making more than $1 million in bribes to a former school superintendent in southern New Jersey. ...
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Midwest

Agents Urge Caution on Changes to Missouri Work Comp Insurer

Some insurance agents are urging caution as Missouri lawmakers considered changes to a state-created workers' compensation firm that has ...

Austin Mutual Insurance to Become Affiliate of Main Street America Group

Super-regional property/casualty insurance carrier The Main Street America Group announced that Minnesota-based Austin Mutual Insurance Co. ...

Minnesota's PCG Agencies Adds Sibell as VP of Finance

Jeff Sibell has joined PCG Agencies Inc. in St. Paul, Minn., as vice president of finance. Sibell has many years of experience in the ...

Hamm Gets North Dakota Republican Backing for Insurance Job

Republicans are sticking with Insurance Commissioner Adam Hamm as their choice for North Dakota's top insurance regulator. At the North ...
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Southeast

Trayvon Martin March to Happen After Tallahassee Waives Insurance Requirement

A march in Florida's state capital to protest the shooting death of Trayvon Martin is being held today after city officials relented and ...

North Carolina Vows Crackdown on Workers’ Compensation Scofflaws

Officials in North Carolina said they will review their efforts to ensure that employers are purchasing workers' compensation coverage ...

Mississippi Workers’ Compensation Bill Hits Snag in House

A bill that would revise Mississippi's workers' compensation system survived attempts to kill it this week, but ended up further away from ...

Tennessee Issues Warning on Certificates of Insurance

Authorities in Tennessee are warning agents that certificates of insurance must be consistent with the underlying policy or they risk being ...
South Central

Tornadoes Slam North Texas Causing Extensive Damage

A severe line of thunderstorms and isolated super cells moved into the Dallas-Fort Worth-Arlington metropolitan area in the early afternoon ...

Western Security Surplus Insurance Brokers Announces Staff Changes

Kyle Stevens, president and CEO of Western Security Surplus Insurance, announced organizational changes in the Dallas office and a new hire ...

Arkansas Revenues Up in March, Ahead of Forecast

Arkansas' revenues in March were ahead of last year and beat official projections, as the state saw increases in nearly all major tax ...

Texas Bus Inspections Get Lax Oversight Despite Crashes

Months after their state-certified vehicle inspection station was cited by federal authorities for failing to notice defects in a bus that ...

Rail Crossing Collisions Down in Louisiana

Officials with the Louisiana Highway Safety Commission say collisions at rail crossings in Louisiana fell in 2011from 106 in 2010 to 96 ...
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West

The Hanover Furthers Its West Reach With New Pacific Region

The Hanover Insurance Group Inc. is launching a second region in the Western U.S. A newly created Pacific Region will be led by David Kuhn, ...

Nevada Traffic Deaths Jump in 1st Quarter Of 2012

The number of Nevada traffic deaths jumped by nearly 25 percent in the first quarter of 2012 when compared with the same period last year, ...

Calls Show Residents Panicked Over Colorado Wildfire

A man who was found dead in his burned home was among the confused and panicked residents who called Colorado authorities as a wildfire ...

Brown & Brown of California Acquires D. Bezona & Company Assets

Orange, Calif.-based Brown & Brown Insurance Services of California Inc. acquired substantially all of the assets of D. Bezona & ...

Willis North America Adds Three to Personal Lines in California

Willis North America, a unit of Willis Group Holdings, made three key appointments in its personal lines practice in Califfornia. The ...
International

Allianz Seeking ‘Takeover Gems’ in Post-crisis Financial Wreckage

Allianz SE, Europe's biggest insurer, will proceed with caution as it searches for takeover gems among the jetsam washed up by the ...

Starr’s Greenberg: China ‘Eager to Begin Talks’ on Free Trade Pact with U.S.

China is eager to begin talks on a free trade pact with the United States and key leaders seem willing to step away from the state ...

Chevron, Transocean Face New Multi-billion Brazil Lawsuit; ‘Outrageous’ Say Companies

A Brazilian federal prosecutor on Tuesday launched his second 20 billion real ($10.9 billion) lawsuit against U.S. oil company Chevron and ...

ABI, UK Government, BIBA Team up to Help Older People Find Insurance

A bulletin from the Association of British Insurers states that "older customers will find it easier to get motor [auto] and travel ...

PERILS Estimates Windstorm Andrea Property Losses at $407 Million

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

Accenture to Team with SAS Institute for Sweden’s Folksam Solvency II Regs

Global management consulting, technology services and outsourcing company Accenture announced that it will team with SAS Institute "to ...
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New Discussions in the Forums

One stop shop MGA
Posted: Wed Apr 4 -- Why not go directly to the insurer? In that way, you can ask anything that you would like to inquire and know the services they provide. Or... GrandeRH
workcomp ca metal mfg 3066 code
Posted: Wed Apr 4 -- With no prior, its going to be tough. SCIF or Chartis might be your best bet. 1st Comp used to write them but Im not sure if they do new... ocbroker
ADA Violations
Posted: Wed Apr 4 -- This could be a problem if on the application for the EPLI 3rd party insurance there is a question "Is your facility designed to be ADA... Rock54
Lessor Risk liability vs tenant liability
Posted: Tue Apr 3 -- The reason for the tenant liability is so the owner does not have to use their insurance. There are adverse consequences when the owner's... Rock54
Personal Quake Insurance - CA
Posted: Tue Apr 3 -- If Travelers is writing the Home why not add the earthquake through them? They offer it on new business and afterwards every other renewal.... JAM
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

Reader Comments

Trayvon Martin March in Tallahassee Postponed Again Over Lack of Insurance
Posted: Tue Apr 3 -- Prudent underwriting decision. The exposures, hazards and the lack of the ability to influence risk management make this a hard event to... Agent
Santa Fe Sues Aeropostale For Not Paying Living Wage
Posted: Tue Apr 3 -- Aeropostale should close the store and then no one will be forced to work there any longer. Darren
Nix the Tape on Home Windows, Say Hurricane Officials
Posted: Thu Mar 29 -- But in the event of a terrorist chemical or biological attack, duck tape your windows! LOL Silly Wabbit
FDA Denies Ban on Chemical BPA Used in Baby Bottles, Food Packaging
Posted: Mon Apr 2 -- Why do people always jump to the conclusion that just because something causes cancer or mutates their children that it's a bad thing? Anejo
BP Claims U.S. Hiding Evidence on Size of Gulf Oil Spill
Posted: Fri Mar 30 -- Obama's crew guessedamated the volume of the oil spill based on the cloud of oil in the water, not by the specific quantitative content of... anon the mouse

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