Sep 4, 2012

Daily Headlines: Tuesday, September 4, 2012

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

Today's Headlines

National

Buffett's Berkshire Hathaway Relying Less on Insurance Units

Warren Buffett's recent birthday was good news for Berkshire Hathaway investors who could celebrate another year of the Oracle of Omaha's ...

AmWINS Buys Wisconsin School Insurance Broker, Smic

Insurance broker AmWINS Group Inc. has acquired Special Markets Insurance Consultants, Inc. Smic is headquartered in Stevens Point, ...

Insurers Processing Estimated $1.2 Billion in Hurricane Isaac Claims

Insurance claims from Hurricane Isaac have starting coming in, with one estimate saying losses to insurers could total $1.2 billion. AIR ...

Supreme Court to Review State v. Federal Class-Action Case Involving Insurer

The U.S. Supreme Court on Friday agreed to consider the constitutionality of a legal tactic that can make it harder for companies to defend ...

U.S. Construction Firms Facing Double-Digit Increases for Liability Insurance: Marsh

The commercial general liability market for the U.S. construction industry continues to firm with underwriters seeking rate increases of up ...

From MyNewMarkets.com New National Parks' Insurance Requirements Ignite Controversy

A National Parks Service (NPS) decision to hike their required insurance liability limits by 1,000 percent has some outfitters and guides,...
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East

GEICO Sponsors Rest Area 'Safe Phone Zones' in Virginia

Insurance giant GEICO is going to become a lot more familiar to travelers who visit Virginia's 43 Interstate rest stops, the Virginia ...

N.Y. Gov.: Up to $640K for Irene-Wrecked Firehouse

Gov. Andrew Cuomo says the state will provide up to $640,000 for the construction of a new firehouse in the Adirondack Mountain town of ...

Delaware Police Seek Suspect in Armed Robbery of Local Agency

Delaware State Police are looking for a man who robbed an insurance company in Wilmington at gunpoint. It happened about 4:30 p.m. last ...

New Jersey's Crum & Forster Appoints Chief Technology Officer

New Jersey-based Crum & Forster has appointed Ahmed Yaknour as chief technology officer. In this role, he will be responsible for the ...
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Midwest

Hastings Mutual Vice President Jandahl to Retire at Year's End

Keith Jandahl, vice president of Insurance Operations for Hasting, Mich.-based property/casualty insurer, Hastings Mutual Insurance Co., is ...

ASNOA Welcomes New Partners in Missouri, Illinois

The Agent Support Network of America, ASNOA has welcomed its two newest partners, insurance veterans J. Scott Loveland and Roger Collins. ...

Illinois Gets $1M for Consumer Insurance Help

Illinois has received a $1 million federal grant to improve how it helps consumers who have complaints about insurance industry practices. ...
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Southeast

Tennessee Court: Parents' Emotional Distress Not Covered by Auto Policy

Tennessee's high court has ruled that two parents' emotional distress following an automobile accident that took the life of their son is ...

Kentucky Bill Would Allow Christian Ministry's Medi-Share Plan

A Christians-only health care ministry that's battling in court for the right to continue operating in Kentucky could get a reprieve from ...

Florida Man Pleads Guilty to Phone Threats to Insurer's Employees

A 49-year-old Florida man pleaded guilty Friday to making hundreds of threatening calls to employees at the Travelers Insurance Co. Brent ...

Tennessee Jury Awards Family $7.8 Million in Hospital Negligence Suit

A Dyer County, Tenn.,  jury awarded $7.8 million in damages to the family of a child who suffered severe brain damage as a result of an ...
South Central

Another Disaster Brings Candidates to Gulf Coast

Mitt Romney wasted no time after accepting the GOP presidential nomination in heading to Louisiana to see the damage from Hurricane Isaac, ...

A Year After Texas Wildfires, Recovery Continues

One year after wildfires raced through Bastrop and impacted 64 other Texas counties, recovery continues with more than $63 million in ...

Days After Isaac, Flooding and Outages Remain

Much of a finger-shaped parish southeast of New Orleans was still covered with floodwater on Sept. 2 and more than 200,000 people across ...
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West

State Fund Restructures Broker Distribution

State Compensation Insurance Fund has changed to its broker distribution model, requiring many brokers to go through one of two ...

Montana DUI Program Reaches Milestone

Montana Attorney General Steve Bullock says 100,000 alcohol breath tests have so far been conducted under the state's year-old drunk ...

N.M. Court Upholds $10M Punitive Damages In DWI Death

The New Mexico Court of Appeals has upheld $10 million in punitive damages for the family and estate of an Albuquerque man killed by a ...

Guitars With Playboy Bunny Logo Subject Of Lawsuit

Photos of Playboy playmates have gone from the cover of the magazine to the center of a lawsuit between two Oregon guitar makers. Houston ...

Lawmakers Greenlight Workers' Comp Overhaul

The state Legislature approved a reform bill for California's $17-billion workers' compensation insurance system, one that promises to hike ...

Assembly Passes Workers' Compensation Changes

The state Assembly approved a series of changes to California's workers' compensation system Friday, voting on a 170-page bill that arose ...

Workers' Comp Bill Amended, Brown Pleads for Support

As Legislators rushed to amend and pass a bill that would reform California's workers' compensation system before the Friday's midnight ...

Leavitt Group Agencies Combine, Re-brand

The Leavitt Group is combining the capabilities of six of their top California agencies along with their Las Vegas, Salt Lake, and Atlanta ...
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International

NZ Weather Scientists Foresee Short, Weak El Nino

El Nino weather conditions, which can bring droughts to parts of Asia and affect crops, have emerged but will likely be weak and short ...

TS Leslie Moving Slowly Northward; No Change in Strength: NHC Report

The latest report, at 5:00 a.m. AST, located the center of tropical storm Leslie "near latitude 24.7 north - longitude 62.5 west;" i.e. in ...

Commentary: Iran Confident It Is Winning Sanctions War

Despite ludicrous claims to the contrary, Western sanctions have hurt Iran's crude oil exports, but it's also not all gloom and doom. In ...

Moody's Changes EU Rating Outlook to Negative

Moody's Investors Service has changed its outlook on the 'Aaa' rating of the European Union to negative, warning it might downgrade the ...

Aon Benfield, Impact Forecasting Launch Cat Risk Tool 'ELEMENTS 7'

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, announced that it has launched "ELEMENTS 7, the loss ...

Lloyd's Names Vandendael - Director, Int'l. Markets; Van Saun to Franchise Board

Lloyd's has announced two top level executive appointments. Vincent Vandendael will take over as Director - International Markets, and ...

Kiln Appoints Pudemat Property Underwriter in Frankfurt

Kiln, the international specialist insurance and reinsurance underwriting group, which is a part of Tokio Marine, announced that it has ...

Russian Insurance Community Works on Implementing ACORD Standards

Global standards development organization ACORD announced that a coalition of major Russian insurers, including subsidiaries of Allianz and ...

Lockton Enters Strategic Relationship with Ecuador Broker Security Re

Privately-owned global insurance broker Lockton announced that it "plans to strengthen its position in Latin America by entering into a ...

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Predictive Modeling 1: Origins in Insurance

Few developments have altered the insurance business as much as predictive modeling and more...
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Agriculture Business Prepared for This Year's Drought

Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,...

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New Discussions in the Forums

Will old CPCU books work for the new CPCU exams?
Posted: Tue Sep 4 -- I bought all the CPCU books at once last year, only to have change to the tests made right afterwards. I was needlessly worried until I... paulbennings
Agency Management System
Posted: Mon Sep 3 -- We have been using Paris, the vendor is Noria, for about 10 yrs, I mean there has been ups and downs, but then again the tech industry has... justjack
Do you use online leads services?
Posted: Sat Sep 1 -- I have yet to see an agency prosper over time using on-line lead services. They are commodity transactions, low premium, typically... Rainmaker
Track Your CSR's Daily Sales Activity
Posted: Sat Sep 1 -- Yikes....daily sales reports for CSR's? Watch your turnover spike and morale drop like a rock. That's one of those ideas that sounds great... Rainmaker
Independent Agency Growth Rate
Posted: Sat Sep 1 -- There are many different segments to the retail insurance broking industry, ie the 1) globals; 2) top 10 public; 3) top 100; 4) the... Rainmaker
Keeping Track of prospects
Posted: Sat Sep 1 -- I would encourage you to consider that solutions are predicated on the exact need - the more laser focused you are on your specific needs... Rainmaker
Splits
Posted: Sat Sep 1 -- Compensation models vary greatly within the industry based upon alignment, market-space, product mix, geographic footprints, etc., so a... Rainmaker
Life Agent working for P&C Agency
Posted: Sat Sep 1 -- Depending upon the size of the P/C agency, it's product mix, and market alignment - a life producer can find great opportunity working with... Rainmaker

Reader Comments

Ex-NFL Player John Mott Sues in N.Y. for Head Injury
Posted: Wed Aug 29 -- Another pampered millionaire athlete whinning about something he knew about since he started playing peewee ball. YOU WEAR A HELMET FOR A... CSP
Ohio Doctor Can Be Sued in Inmate's Suicide: Update
Posted: Wed Aug 29 -- The article stated, "he was denied access." Which would mean that someone else other than Tepe denied access of the inmate to Tepe. So,... SteveB
Consumer Perception of Progressive at Lowest Level in 4 Years: YouGov
Posted: Thu Aug 30 -- Reputation is both perception and reality like it or not. It takes a long time to build a good reputation and a short time to loose it.... Bluemax
Insurance Laws Hurting Colorado Wildfire Victims
Posted: Fri Aug 31 -- "easing the rules for policyholders" seems to imply that insured's are having problems presenting proof of loss - and who wouldn't if all... original bob
Judges Tout Wikipedia in "Jet Ski" Exclusion Ambiguity
Posted: Tue Aug 28 -- Even the judge admits that Wikipedia is unreliable, but they didn't let that stop them. Maybe we should hold judgeship elections &... Decision by Wikipedia

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