Dec 5, 2012

Daily Headlines: Wednesday, December 5, 2012

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Insurance Journal Daily Headlines
December 5, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

FEMA Will Need More Funds for Sandy Relief: Fugate

The U.S. disaster fund likely will run out of money by early spring because of costs from Superstorm Sandy, the head of the Federal ...

Building Momentum in the Construction Market

After four years of one of the most challenging construction markets, construction insurance experts are beginning to see signs of a slow ...

Trade Sanctions & Risk Management

The U.S. government has increasingly used laws and regulations that impose economic sanctions on others as an instrument to advance foreign ...

Coface Introduces New Trade Credit Top-Up Cover

Coface, a global trade credit insurer, has introduced TopLiner, a new supplemental, non-cancelable top-up cover for existing customers. The ...

SullivanCurtisMonroe Launches National ADA Compliance Program

SullivanCurtisMonroe (SCM) has launched ADA (Americans with Disabilities Act) Compliance Plus, a new national program exclusively offered ...

Willis Boosts Construction Practice with 4 Ex-Aon Specialists, 2 Others

Willis North America has made a series of appointments in its construction practice to serve clients in the expanding default insurance ...

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

NYC Marathon Organizers Likely to Get Millions From Event Coverage

The New York Road Runners -- a non-profit community running group and the organizer of the annual New York City Marathon -- could get ...

Commentary: Houseless After Sandy, Until the Insurance Money Kicks In

(The author is a Reuters contributor. The opinions expressed are her own.) It took one day for Superstorm Sandy to destroy my house. So ...
Midwest

Marsh & McLennan Agency Acquires Ohio's Brower Insurance Agency

Marsh & McLennan Agency LLC (MMA), a subsidiary of insurance broker Marsh Inc., has acquired Ohio-based Brower Insurance Agency. Terms of ...

Study: North Dakota Health Insurance Market Near Monopoly

An American Medical Association study concludes that North Dakota's health insurance market is almost a monopoly but the state's dominant ...

Top Illinois Republicans Back Immigrants' Drivers' Licenses

Top Illinois Republicans have announced their support for providing driver's licenses to illegal immigrants. House Minority Leader Tom ...

Iowa Fire Officials Change Policy on Flood Zone Fires

Fire officials in Cedar Rapids say they have a different policy for battling fires at buildings vacated by the city's historic 2008 floods. ...
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Southeast

Texaco Disputes $17 Million Mississippi Claim Over Children's Disabilities

Attorneys for Texaco Inc. argued this week that no evidence showed the oil company was responsible for ailments of children born to five ...

Tennessee Valley Authority Eyes Worst-Case Flood Scenario

The Tennessee Valley Authority is developing a worst-case flooding scenario that could require taller dams and more protection for nuclear ...

Builders Insurance Adds Krause as Underwriting Vice President

Builders Insurance Group, based in Atlanta, has named Greg R. Krause as vice president of underwriting. Krause brings 31 years of ...
South Central

Hogan Joins Texas-Based SWBC Insurance Services

SWBC Insurance Services, headquartered in San Antonio, announced that Michael Hogan has joined the team as senior risk control consultant. ...

LWCC Names Recipients of 2012 Stephen W. Cavanaugh Scholarship

Mark Abshire of Breaux Bridge, La., and Philip McMahon of Houma, La., have been named recipients of the 2012 Stephen W. Cavanaugh ...

Louisiana's Tangipahoa Parish Getting First Fire Administrator

Tangipahoa Parish in Louisiana soon will have its first fire administrator. The Daily Star reports Dennis Crocker will take on the title ...
West

Poms & Associates Names Employee Benefits Executives in Colorado

Poms & Associates Insurance Brokers Inc. named William Martin and Justin Powell as account executives in the employee benefits group in the ...

SIAA Adds Four in West

The Strategic Insurance Agency Alliance signed four agencies in the West in November - two in California and two in Arizona - bringing its ...

370M Settlement Reached Over Southern California Wildfires

An electrical contractor and tree-trimming company have agreed to pay $370 million to settle lawsuits over Southern California wildfires ...

Colorado Moving To Curb Health Insurance Costs

Colorado officials say health care reform has given them the power to curb insurance rate hikes. Those curbs helped the state block a 24 ...

Spotlight: CIWA Looking for Resurgence in Changing Market, Lawsuit

The California Insurance Wholesalers Association is in prime position to benefit from trends and events that its board members expect to ...

Golden Bear Names Brown Property Manager, Takamoto Chief Risk Officer in California

Stockton, Calif.-based Golden Bear Insurance Co. has promoted Michael Brown to the position of property manager. Brown has been with Golden ...
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International

Philippines' Biggest Typhoon Kills at least 230; Hundreds More Missing

The death toll from the Philippines' strongest typhoon this year rose on Wednesday to around 230, with hundreds missing in landslides and ...

Extreme Weather is New Normal, U.N.'s Ban Tells Climate Change Talks

Extreme weather is the new normal and poses a threat to the human race, U.N. Secretary-General Ban Ki-moon said on Tuesday as he sought to ...

Transparency International Releases Latest Global Corruption Index

In Transparency International's 2012 Corruption Perceptions Index, Denmark, Finland and New Zealand tied for first place out of 176 ...

AIR Worldwide's Analysis of Typhoon Bopha's Impact on the Philippines

AIR Worldwide's analysis of Typhoon Botha's [also named 'Pablo,' locally] impact on the Philippines indicates that as "insurance ...

Thai Group Buys Ping An Stake from HSBC for $9.38 Billion

A conglomerate controlled by Thailand's richest man, Dhanin Chearavanont, has bought a minority stake in China's Ping An Insurance for ...

Montpelier Re Launches Blue Capital - Investors' Asset Management Platform

Bermuda-based Montpelier Re Holdings Ltd announced the launch of Blue Capital, an asset management platform offering a range of catastrophe ...
Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #17

Is Your Agency Still Accepting Cash Payments? Relatively few agencies today, at least relative to ten years ago, are accepting cash. ...

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Insurance Journal TV

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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

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
Designation Suggestions
Posted: Tue Dec 4 -- How does the AAI compare to the CIC? Are they equivalent or is one more advanced than the other? I have the CIC and was looking at the AAI... NCPCLHagent
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
Small agency looking for personal lines carrier
Posted: Mon Dec 3 -- You don't say where you are located, but some good national carriers are Safeco, Travelers, Hartford, and Chubb. Insurance Gal
Waiver of Subrogation endorsment - not needed
Posted: Mon Dec 3 -- Implied waiver upheld by the Pennsylvania courts ... etimer
Unfair Competition amongst brokers
Posted: Mon Dec 3 -- Wow! This is definitely unfair competition and what they're doing is clearly wrong. You should teach them a lesson and report this at once... BeatrixLewis

Reader Comments

Indiana Truck Driver Logs 3 Million Miles of Safety
Posted: Thu Nov 29 -- Congratulations and thanks to Mr. Batt. It is a wonderful milestone. So many drivers think only of themselves and where they want to go or... v
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
Homeowners in Mississippi's Moss Point Fight Flood Insurance Rules
Posted: Thu Nov 29 -- It is about time that folks were forced to improve their own situation. Not living in a flood prone area I am sick to death of having tax... Tired of it all
Monsters Under the Bed: Insurance Coverage Gaps and Other Invisible Exclusions
Posted: Wed Nov 28 -- this should have been labled as "very slanted opinion piece" instead of letting us assume it might be a "news article". sos, IJ must have... bob
6 Things for Independent Agents to Worry About in 2013
Posted: Mon Dec 3 -- I have owned an independent agency for almost 30 years and approaching the exit strategy of my agency within the next 15 years. If you are... Sarah

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