Dec 7, 2012

Daily Headlines: Friday, December 7, 2012

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Insurance Journal Daily Headlines
December 7, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Time Running Out for Senate on Farm, Crop Insurance Bill

With a week left to act, agricultural leaders in Congress are still deadlocked on two major issues for a new U.S. farm bill, cuts in crop ...

Judge Names Lead Plaintiffs in Facebook IPO Claim

A group of investors including state pension funds in North Carolina and Arkansas will be the lead plaintiffs in securities lawsuits ...

Personal Lines Rates Rise 4% in November: MarketScout

Homeowners and automobile insurance rates are trending up, according to a new industry survey. The composite rate for insuring personal ...

Marsh Names Sheehan Leader of U.S. Financial Institutions Practice

Insurance broker Marsh has named Eugene "Tripp" Sheehan, a 19-year veteran of the firm, as U.S. Financial Institutions practice leader. ...

Liberty International Underwriters Promotes Aggarwal to U.S. Construction Post

Liberty International Underwriters has promoted Chaman Aggarwal to the newly-created position of senior vice president, USA Construction. ...

CAMICO Launches Subpoena Services Resource Center for Policyholders

CAMICO, a CPA-focused program of specialty liability insurance for the accounting profession, has launched a Subpoena Services Resource ...

El Niño Unlikely Before Spring

The U.S. national weather forecaster said on Thursday the much-feared El Niño weather phenomenon is unlikely to appear before the Northern ...

From MyNewMarkets.com Brokers Pay Special Attention to Specialized Government Contractor Segment

The U.S. Department of State's decision to take an open-market approach in fulfilling the Defense Base Act (DBA) insurance requirement for...
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East

Hartford CEO McGee Says 'Undoubtedly Weather Has Changed'

The Hartford Financial Services Group CEO Liam McGee said his company's gross loss from Superstorm Sandy may hit its reinsurance deductible ...

Ex-N.J. Brokerage Exec Who Stole Millions Faces Lengthy Prison Term

A former New Jersey insurance brokerage controller who pleaded guilty to stealing several million dollars is awaiting sentencing scheduled ...

Cook, Hall & Hyde Completes Merger With Maran Corporate Risk in N.Y.

Two insurance brokerages in the Metro New York region -- Cook, Hall & Hyde and Maran Corporate Risk Associates -- finalized their merger ...

Conn.-Based CMIC Hires Senior Loss Prevention Consultant

CMIC, a doctor-owned medical professional liability insurer serving New England, appointed healthcare veteran Denise Condron as senior loss ...

Univ. of Rhode Island Gets $206K Grant for Crop Insurance Education

The University of Rhode Island has been awarded a $206,000 federal grant to help educate the state's agricultural producers on crop ...
What Makes a Good or Bad Acquisition Candidate: New class from Academy of Insurance
Midwest

Former Brooke Corp. Execs Again Indicted on Financial Fraud Charges

Two former executives of the now defunct insurance agency franchising firm, Brooke Corp., have been indicted on federal financial fraud ...

Nationwide Insurance Says Data Breach Affects 1.1M

Nationwide Mutual Insurance Co. says someone attacked part of its computer network and likely stole personal information affecting more ...

Patriot National's Guarantee Insurance Co. Expanding into Michigan

Workers' compensation insurer Patriot National Insurance Group announced that its subsidiary, Guarantee Insurance Co., will begin writing ...

Missouri Insurance Firm Gets $5M to Move 1 Mile, Into Kansas

An insurance marketing company is receiving $5 million in incentives to move one mile from Kansas City, Mo., across the border to Lenexa, ...

Platinum Supplemental Insurance Creates Worksite Division, Adds Director

Platinum Supplemental Insurance has introduced a Worksite Division and added Duane Frick of Dubuque, Iowa, as director of worksite ...
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Southeast

Florida Regulator Conducting Review of Citizens Insurance

Florida regulators are working on a report that is expected to layout the financial status, claims handling and other administrative ...

Tennesee Valley Authority Pressed for Details on Nuclear Plant Flood Safety

Nuclear power plant regulators want more specific information from Tennessee Valley Authority (TVA)  on how the utility plans to protect ...

South Carolina Court Upholds Contractor Liability for Faulty Workmanship

South Carolina's high court has left intact a state law that requires a builder's general liability policy to cover damages from faulty ...
South Central

Texas Legislator: Extend Tax Break for Small Businesses

Texas state Rep. Harvey Hilderbran, of Kerrville, has filed legislation to promote small business development in Texas by permanently ...

Texas Wind Insurer: Agent Login Will Change Dec. 13

The Texas Windstorm Insurance Association is advising agents that the web address for its E-Quote login will change on Dec. 13, 2012. The ...

Texas Deputy Police Chief Wants Permanent DWI Checkpoints

A deputy police chief in South Texas has asked legislators to consider setting up permanent DWI checkpoints to save lives. San Antonio ...

New Sentencing for Arkansas Doctor Convicted in Bombing Case

A federal appeals court has ordered a re-sentencing for an Arkansas doctor convicted in a bombing that nearly killed the head of the state ...

SIAA Adds 3 South Central Agencies in November

The Strategic Insurance Agency Alliance (SIAA) announced it signed three additional members in South Central states in November. They are: ...
West

8K New Mexico Customers Affected by Nationwide Security Breach

State officials in New Mexico are warning customers of Nationwide Insurance that their personal information may have been compromised by a ...

Assessments Announced for California Workers' Comp Funds

California regulators have issued assessment rates that employers will pay in 2013 for the Workers' Compensation Administration Revolving ...

Utah Sues BP Amoco For Dipping Into State Fund

Utah Attorney General Mark Shurtleff is suing oil giant BP Amoco for collecting state money to clean up spills from leaky storage tanks ...

Washington Liquor Sales Still Up After Privatization

Sales of hard liquor increased in the four months after the state privatized liquor sales on June 1, compared with sales during the same ...
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International

UPDATE: 7.3 Quake off Japan; Tsunami Warnings Cancelled

News reports are describing an earthquake off the east coast of Japan with a magnitude, estimated by the U.S. Geological Survey, of 7.3. ...

China Arbitrators Rule Against Injured Foxconn Worker

Chinese labour arbitrators have ruled against the father of a Foxconn worker brain-damaged in a factory accident in southern China, in a ...

Chinese Firms in Talks to Buy AIG Aircraft Leasing Unit

A group of Chinese companies, including the Industrial and Commercial Bank of China (ICBC), is in talks to buy American International ...

Aon Benfield's Monthly Cat Report Highlights UK Floods

Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, the global reinsurance intermediary and capital ...

US Senate OK's Russia Trade w/ Human Rights Bill; Angry Russian Reaction

The U.S. Senate on Thursday approved legislation to punish Russian human rights violators as part of a broader bill to expand U.S. trade ...
Rapid Shifts in the EPL Market : New class from Academy of Insurance


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Rate Changes Coming to Healthy Railroad Industry

At one time it seemed that the railroad industry was doomed, but thanks in part to the...
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Effects of Worldwide Economic Instability on American Companies

Despite a slightly improved economy here in the U.S., the global economy is not out of the...

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New Discussions in the Forums

8832 Work Comp code IN
Posted: Thu Dec 6 -- I am looking for a carrier that will write work comp for class code 8832. the insured has locations in IN, KS, TN and NY. Any suggestions. Hoosierdaddy
QQEvolution AMS ???
Posted: Thu Dec 6 -- QQ Evolution is horrible. At least from a commercial CSR standpoint. Agency i'm with uses it and all CSRs in agency just move beyond the... insgirl
Truck & Crane operator
Posted: Wed Dec 5 -- I should have mentioned- California dgarzoli
Designation Suggestions
Posted: Wed Dec 5 -- I would agree they do seem similar. The CIC requires 5 courses of 20hrs each with a 2 hr essay exam to pass each one. The AAI is in 3... Shagster1261
Can an employer fire an employee because their pre-convicted
Posted: Wed Dec 5 -- In my opinion, firing an employee based on a mugshot isn't right. The employer should get the facts first and find out if the employee was... BeatrixLewis
Taxi Cab Insurance
Posted: Wed Dec 5 -- You can try piconline or dcapinsurance. The former provide limits up to $5M and has $20M excess market capability and you can even fill out... BeatrixLewis
My CPCU journey - almost finished.....
Posted: Tue Dec 4 -- I am in the process of reentering the Commercial Insurance world being away for about 15 years. I was thinking of working toward my CPCU. I... margo
Dental Plan or Dental Insurance
Posted: Tue Dec 4 -- Dental plan is actually an alternative to dental insurance because it's more cost-effective. With the former you can visit the dentist at a... BeatrixLewis
Signing up for an insurance directory
Posted: Tue Dec 4 -- Thanks for your input, Beatrix. I've decided against the directory, but I appreciate your interest. Robert742

Reader Comments

Lawsuit: Fedex Fires Utah Driver Over Russian Accent
Posted: Fri Nov 30 -- Did he not have the accent when they hired him? Or did it just come on all of a sudden one day? Libby
NYC Marathon Organizers Likely to Get Millions From Event Insurance
Posted: Wed Dec 5 -- And wonderful Bloomberg said it was illegal to give starving families fast food because of the possible sodium content of the food.... Agent
Court Finds Rating Agencies Not Liable on Toxic Mortgages
Posted: Tue Dec 4 -- Let's look at the big picture here. We are talking about AIG and I don't care which division is responsible for the mess they were in, they... Agent
Brewer Rejects State-Run Health Exchange for Arizona
Posted: Fri Nov 30 -- Thank God the tea party was humiliated in the election, and clowns like this woman will soon be voted out of office nationwide. Rosie
Study Finds Gary, Indiana, Nation's Most 'Underpoliced' City
Posted: Fri Nov 30 -- I drove thru Gary, Indiana once (by accident), and I could not believe I was in America. Abandoned and crumbling buildings make it look like... Jack

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