Feb 7, 2013

Daily Headlines: Thursday, February 7, 2013

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Insurance Journal Daily Headlines
February 7, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Lucky Or Smart? Experts Weigh-In On P/C Industry's Sandy Impact

At least one industry analyst says that good risk management is protecting insurers as they face a new normal level of catastrophe losses. ...

$1.2 Billion in Sandy Losses Paid, Allstate Pursuing Rate Hikes

Allstate Corp.'s quarterly profit fell 45 percent on losses from superstorm Sandy, but the home and auto insurer said it has paid out about ...

Policyholder Education: Agent or Carrier Responsibility?

Policyholder education about insurance coverage wording is a critical challenge for the property/casualty insurance industry. But who ...

First Fidelity Brokerage Launches Flood Insurance Website

First Fidelity Brokerage of New York has launched www.insureflood.com for homeowners and businesses to obtain flood insurance, as well as ...

Debate Over Terrorism Insurance to Be Renewed

Bipartisan legislation filed yesterday in the House of Representatives promises to renew the federal terrorism reinsurance program and the ...

From MyNewMarkets.com Insurance Segments to Watch in 2013 - Part Three: Reputational Risk

While many in the insurance industry were focused on the cyber liability, cargo theft, and weather segments in 2012, this year a number of...
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East

FEMA Defends Handling of Sandy Flood Claims

The Federal Emergency Management Agency is defending its handling of Superstorm Sandy-related flood insurance claims following sharp ...

N.J. Announces New Captive Insurer; 8 Captives Approved Since 2011

The New Jersey Department of Banking and Insurance announced Wednesday that the department approved Lumerica Insurance Company, a ...

Massachusetts AG Settles With Premium Financing Provider Flatiron Capital

A Colorado-based premium financing provider has agreed to pay $42,000 to resolve allegations that it illegally and prematurely cancelled ...

N.Y.-Based Integro Acquires iTrade Unit From Navigators Management Co.

New York-based insurance brokerage and risk management firm Integro announced the asset purchase of iTrade -- a bonds and logistics ...

Chubb's Senior Fine Art Specialist Moves to Fireman's Fund

Novato, Calif.-based Fireman's Fund Insurance Company appointed Michelle Impey as fine art director, personal insurance. She is based in ...

Maritime Program Group Names VP of Recreational Marine Division in N.H.

Maritime Program Group recently appointed Dana Downes as vice president of the recreational marine division. He is based in Manchester, ...
The National Flood Insurance Program: Past, Present and Future - new class from Academy of Insurance
Midwest

Minnesota's Johnson McCann, C.O. Brown, Apollo Insurance Agency Merge

Three Minnesota insurance agencies - Johnson McCann of St. Paul, C.O. Brown of Rochester and the Apollo Insurance Agency of St. Cloud - ...

Director: Ohio Auto, Homeowners Insurance Premiums Among Lowest in Nation

Lieutenant Governor and Department of Insurance Director Mary Taylor announced Ohio's average auto and homeowners insurance premiums are ...

Vande Hey Appointed Deputy Insurance Commissioner in Minnesota

Minnesota Commerce Commissioner Mike Rothman has promoted Tim Vande Hey to deputy commissioner of the Insurance Division for the Commerce ...
Southeast

West Virginia Court Rules Negligent Mine Inspectors Can Be Sued

Private and federal mine safety inspectors can be held liable and sued when a negligent inspection results in the wrongful death of a coal ...

North Carolina Man Jailed After 9th DWI Charge

Authorities in North Carolina's Gaston County man said a man convicted seven times for driving while impaired is in jail for a ninth charge ...

Florida Nuclear Plant Being Shuttered Following Insurance Settlement

The largest U.S. electricity company is permanently closing a Florida nuclear power plant after botched repairs and refunding consumers ...

Tennessee's Westan Insurance Joins Keystone

Keystone Insurers Group (KIG) has added Union City, Tenn.-based agency Westan Insurance Group Inc. as its 19th franchise partner in the ...

Gruenberg Joins Digital Benefit Advisors in Atlanta

Atlanta-based employee benefits agency Digital Insurance has hired industry executive Pete Gruenberg as national practice leader for its ...
South Central

Residents Say Insurance Canceled Over Louisiana Sinkhole

The Louisiana Department of Insurance is investigating reports that insurers are not renewing homeowner's policies of residents evacuated ...

Kem Named Senior VP at HIIG Energy in Dallas

Houston International Insurance Group (HIIG) announced that Joseph Kem has been named senior vice president of its underwriting division, ...

Texas Lawmaker Tackles Football in Public School Concussion Fight

A state lawmaker who wants to make concussion screenings as routine as physicals in Texas public school athletics has taken direct aim at ...
West

California Bill Would Force Gun Owners to Buy Insurance

Democratic lawmakers have proposed legislation that would require California gun owners to buy liability insurance to cover damages or ...

Washington Senate Passes Workers' Comp Bills

The Republican-controlled Washington state Senate passed three contentious measures intended to save businesses money by changing workers' ...

Scientists: Boat On Oregon Shore Likely Tsunami Debris

Scientists say a 30-foot boat that washed ashore on Gleneden Beach on the central Oregon coast appears to be debris from the March 2011 ...

Report Rates 21% of New Mexico Roads As Poor, Mediocre

A national highway research group says a fifth of New Mexico's roads need upgrading because they are in poor or mediocre condition. In a ...

Report Suggests Compounders Adapted to California Price Controls

Think California's new workers' compensation reform law addressed just about every aspect of an unwieldy system which, few would argue, ...

Shea Insurance in Nevada Acquired by Leavitt Group

Shea Insurance in Las Vegas, Nev. has been acquired by the Leavitt Group. Terms of the deal were not made available. With the acquisition ...
International

RBS Fined $612 Million for Libor Rate Rigging

Royal Bank of Scotland will pay $612 million to U.S. and British authorities to settle allegations it manipulated benchmark interest rates, ...

P&I Club Correspondents under Pressure to Acquire Indemnity Insurance

In the latest issue of its newsletter, The Wire, the London-based International Transport Intermediaries Club (ITIC) points out that "P&I ...

MAPFRE Posts 10.1% Rise in 2012 Premiums to $29.28 Billion

Spain's MAPFRE Group reported a 10.1 percent increase in premiums in 2012 to €21.5798 billion [$29.2838 billion], with its international ...

Everest Re Reports $58.8 Million Q4 Net Income; FY 2012 $829 Million

The Bermuda-based Everest Re Group, Ltd. reported fourth quarter 2012 net income of $58.8 million, or $1.13 per diluted common share, ...

Argo Group Posts $4.7 Million Q4 Loss; FY Net Income $52.3 Million

The Bermuda-based Argo Group International Holdings announced the following highlights in its report on results for the fourth quarter of ...
Insurance Journal Blogs

Top 3 Ways to Gain More Referrals Online & Offline

This post is part of a series on insurance marketing and training sponsored by Astonish. I've been working with this industry long enough ...

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North Carolina Home (Insurance) Improvement: Commissioner Goodwin

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Effects of Worldwide Economic Instability on American Companies

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New Discussions in the Forums

Best mgmt system for small agency
Posted: Thu Feb 7 -- Hello James, My names is Doris Gonzalez and I represent QQ Solutions. We provide the best value in agency management systems. There are no... heretohelp
1st Year as a Producer Stories
Posted: Thu Feb 7 -- Right on Sac thank you. The "Trusted Advisor" is what I am seeking to be. californiadude
Farmers vs. Independent
Posted: Thu Feb 7 -- hm, you can take what sacman says to the bank. He has been very helpful to many people, who are trying to find out the truth about the... lonestar
Credit Card Processing
Posted: Wed Feb 6 -- You may want to look at SQUARE... beyert1
New independent agency
Posted: Wed Feb 6 -- Hello James, Congratulations on your new agency! I wish you great success! My names is Doris Gonzalez and I represent QQ Solutions. We... heretohelp
CPCU 500 HELP!
Posted: Tue Feb 5 -- I took the CPCU 500 in March of 2012, which is the new "500" - the old one was the "510". If you have a sign-on at "the institutes" they... gdsmack
QuickBooks
Posted: Tue Feb 5 -- I realize this is an old thread but I have yet to find a good way to book direct bill in Quickbooks. I'm thinking of switching to Applied or... DBL Surety
Laws on where an office can be?
Posted: Mon Feb 4 -- Ok thanks was just worried about it being considered a controlled business JamesMcwhorter

Reader Comments

South Dakota House Passes Bill on Arming Teachers
Posted: Mon Feb 4 -- This ought to be good. So now we can do fundraisers for bullets instead of classroom materials because the funding ran out. Plus, now the... CalDude
Family Sues Company Over Minnesota Office Attack
Posted: Tue Feb 5 -- Ahhh, yes.....the OTHER side of the Americans With Disability Act (ADA). If this obviously mentally ill person WASN'T hired because of his... Scott
Government's Case Against S&P: Ratings Stopped Making Sense
Posted: Wed Feb 6 -- Hey, S&P? Remember that report you wrote slamming actuaries in 2003 called "Insurance Actuaries-A Crisis of Credibility"? Huh? Remember... An Actuary
Florida Senate Democrats to Oppose Property Insurance Rate Hikes
Posted: Fri Feb 1 -- If Sen Smith and Sen Simmons have a solution to lower insurance rates, provide broad coverage, expand capacity, and encourage companies to... SWFL Agent

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