Daily Headlines: Tuesday, October 9, 2012

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October 9, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National U.S. Insurers Say Fraud Costs on the Rise: Survey Forty-five percent of insurers estimated that insurance fraud costs represent 5-10 percent of their claims volume, while 32 percent said ... Slow and Steady: Optimism Good for Surplus Lines Market in 2012 Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists -- especially market ... State Auto Estimates $6.5 - $7.5Mn Q3 Cat Losses; RED Reserves Increased State Auto Financial Corporation (STFC) estimates the impact of catastrophe losses in the third quarter of 2012 at between $6.5 million and ... Supreme Court Refuses Review of Telecom Immunity Surveillance Case The U.S. Supreme Court on Tuesday refused to consider a challenge to a 2008 federal law granting immunity to AT&T Inc and other ... Nationwide: Average Cooking Fire Claim Tops $30,000 Cooking fires continue to far exceed most home-related fires, and they are more expensive to repair, according to a new study from ... Markel Updates IT Professional Policy Markel has launched a revamped IT professional policy, with a complete overhaul of the existing form. In addition to basic professional ... Zurich Expands Contract Litigation Insurance Beyond California Zurich has expanded its contract litigation insurance coverage that is managed by program administrator Sonoma Risk Insurance Agency and... More National News East NCCI Recommends Conn. WC Loss Costs and Rates Increases The National Council on Compensation Insurance recently filed a proposal for workers' comp loss cost and rate increases in Connecticut.The ... New York's Holborn Corp. Names Pierson Senior Production Officer Holborn Corporation, a reinsurance intermediary based in New York, announced that Executive Vice President Frank D. Pierson has assumed the ... Willis North America Appoints 2 Executives in New York Willis North America, a unit of global insurance brokerage Willis Group Holdings, announced two executive appointments in the New York ... D.C. Merges Insurance Markets Under Health Care Law Small businesses in Washington will be required to buy employee health insurance through a city-run exchange beginning in 2014. The ... More East News Midwest Kaufman Financial Group Acquires Premium Insurance Auditor The H.W. Kaufman Financial Group announced the acquisition of Mertens Enterprises Inc. (DBA Tracz & Associates), a provider of premium ... MJ Insurance Named a 'Best Practices Agency' for 9th Consecutive Year For the ninth consecutive year, MJ Insurance, a property/casualty and employee benefits agency headquartered in Indianapolis, Ind., has ... PIA of Indiana Adds Shoultz to Board Professional Insurance Agents of Indiana announced that Steve Shoultz, principal of Priority Risk Management Inc. in Fishers, Ind., was ... Home-Building Drive Starts in Storm-Hit Indiana Town Hundreds of volunteers have converged on Henryville in southern Indiana, which was devastated by a deadly March tornado outbreak, for a ... More Midwest News Southeast North Carolina Jury Awards $1.7M in Unborn Baby's Death A jury has awarded a Charlotte, North Carolina couple $1.7 million in a lawsuit against a local restaurant in connection with a head-on ... Tennessee Regulators Say Insurers Weighing Shift in Roofing Policies Tennessee regulators observed that in recent months, some property/casualty insurers in the state have filed to expand or shift their ... Ala. Regulator OKs New Insurance Certification Form for Auto Dealers Alabama Insurance Commissioner Jim L. Ridling issued a bulletin last week approving the use of a new "insurance certification form," MVD-1, ... Tenn. Promotes Identity Theft Awareness, Plans 'Free Shredding Event' Tennessee's Department of Commerce and Insurance and the Davidson County Sheriff's office are teaming up to promote identity theft ... Florida's OIR Deputy Chief of Staff Gets Expanded Role Florida Insurance Commissioner Kevin McCarty announced last week that Rebecca Matthews, deputy chief of staff at the the Florida Office of ... More Southeast News South Central New Texas MGA to Focus on Residential Properties A new managing general agency -- Mission Select Insurance Services, LLC -- has been formed in Texas with a focus on residential property. ... Oklahoma Commissioner Calls for Workers' Comp Reform Oklahoma Insurance Commissioner John D. Doak says it's time for the Legislature to address Oklahoma's biggest economic issue: workers' ... Cameron, Louisiana Residents Urged to Buy Flood Insurance Now Residents without flood insurance in Louisiana's Cameron Parish should buy coverage before the new Federal Emergency Management Agency ... 13 Texas Cities to Receive Smoke Alarms Firefighters in 13 Texas cities will be installing smoke alarms into the homes of low income and elderly residents thanks to this year's ... More South Central News West N.M. Private Security Co. Target Of Myriad Lawsuits The country's largest provider of private federal court house security officers recently paid a $1.9 million fine to the federal government ... Utah Lawmaker Mulls Climate Concerns in Wildfire Bill At the request of a youth group, a Republican Utah lawmaker plans to address concerns about climate change in a bill dealing with ... Exxon Hit With New Lawsuit Over Yellowstone Spill More than a dozen eastern Montana landowners have filed a lawsuit against Exxon Mobil Corp. claiming the company ignored warnings before a ... Southern California Educator Arrested For Workers' Comp Fraud A teaching assistant in Southern California has been arrested on several felony counts of workers' compensation fraud. Gerard Padilla, 45, ... More West News International Services Trade Talks Begin as WTO Seeks Way out of Stalemate Countries representing 70 percent of the global economy are set to negotiate lower barriers to trade in services after agreeing the ... Big Brazil Health Insurance Deal May be Tough to Replicate With a $4.9 billion takeover of Brazil's biggest healthcare provider, UnitedHealth Group appears to have snatched the crown jewel in a ... Best Special Report Sees China as a Market in Transition "The Chinese insurance market is in a state of transition: after a period of rapid expansion, the market must now adjust for sustainable ... Former QBE CEO O'Halloran to Join Australia Broker Steadfast Group QBE's former CEO Frank O'Halloran's retirement didn't last long. Following discussions with the company he headed until last August, it's ... More International News Join the Insurance Journal Network Insurance Journal TV Louisiana's Donelon on Isaac, Citizens, Lawsuits and More Despite taking a direct hit from Hurricane Isaac in late August, Louisiana probably won't see... Watch Now Agriculture Business Prepared for This Year's Drought Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums UW's Please Respond Posted: Mon Oct 8 -- I'm wondering what other P&C underwriters think of an account I'm familiar with. The risk makes several types of products related to... kevinraz Thoughts on some books? Posted: Fri Oct 5 -- It has been several years ago since I purchased the Insurance Essentials material so I have not seen the current book. We used it primarily... ForumReader CPCU - Worth it right now? Posted: Fri Oct 5 -- Popeye, read the previous posts in this thread for an answer to your question. ForumReader Pizza W/ delivery WC in CA Posted: Thu Oct 4 -- I need to know what carriers write pizza Wc with more than 10% delivery exposure. Our current carrier wont write it as it is not a... JAM Primary Flood MO Posted: Thu Oct 4 -- Who is a market in Missouri for primary flood insurance on a residential rental duplex in a community that does not participate in the NFIP... Midwest-Bill Will old CPCU books work for the new CPCU exams? Posted: Thu Oct 4 -- Actually, in my biology degree, most of the teachers allowed older edition books since the material was very similar. The only ones that... NCPCLHagent Non-profit with incidental international exposure Posted: Wed Oct 3 -- Rob, Chartis has a World Risk Foreign package that allows you to pick and choose the coverages you need at very reasonable prices. Haven't... rcb How to grow an Insurance Agency one client at a time. Posted: Sat Sep 29 -- I agree with all of you. I am new to this business and have seen my share of people that simply chase the commission. Don't get me wrong, I... m2insurance Go to Forums Reader Comments AIG Unveils New 'Refreshed' Logo Posted: Wed Oct 3 -- My guess is they spent well over $100k, and got a poor result. This logo is not good. People don't want a "contemporary" insurance company.... Johnny How Dangerous Is Distracted Walking? N.Y. Transport Chief Weighs In Posted: Tue Oct 2 -- When the pedestrian is at fault for their lack of attention and the auto policy comes into play for indemnity...Yes, that is becoming quite... Ghost TWIA Study Recommends Lowering Agent Commissions Posted: Tue Oct 2 -- The same problem exists in Florida with our Citizens Insurance Company. Agents don't want to put clients in with Citizens, but the options... Cheetoh Mulligan Tennessee Court Upholds Man's Paternity Fraud Claim Posted: Wed Oct 3 -- You are NOT the father! (queue the audience clap sign) Maury Americans Do Not Expect Total Repeal of Health Care Law: Poll Posted: Tue Oct 2 -- What does the amount of underwriting leverage for an insurance carrier have to do with cutting reimbursements to hospitals? I don't the... 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