Feb 6, 2013

Daily Headlines: Wednesday, February 6, 2013

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Insurance Journal Daily Headlines
February 6, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Government's Case Against S&P: Ratings Stopped Making Sense

Barely two weeks after the big subprime lender New Century Financial Corp. went bankrupt, a top Standard & Poor's executive assured ...

Government Suit Against S&P Could Embolden Other Investors to Sue

Lawyers for Standard and Poor's, responding to a U.S. government probe, have tried for months to show it did nothing wrong in rating exotic ...

BP Balks at Oil Spill Price Tag Sought by States

BP Plc has tallied up claims made by states and local governments on the U.S. Gulf Coast for economic and property damages from the Macondo ...

Sweeney Exits Philadelphia Insurance; O'Leary Named CEO

Philadelphia Insurance Companies, a Bala Cynwyd, Penn.-based property/casualty and professional liability insurance company for niche ...

Chubb to Provide Loss Prevention Guide for Directors Dealing with M&A Litigation

The Chubb Group of Insurance Cos. has created a new loss prevention guide aimed at assisting directors and officers in preparing for ...

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...
The National Flood Insurance Program: Past, Present and Future - new class from Academy of Insurance
East

N.J. Gov. Christie Says Fed Flood Insurance Program Is a 'Disgrace'

New Jersey Gov. Chris Christie says the National Flood Insurance Program is "a disgrace" because it is moving too slowly to process ...

Central New York Man Sentenced for $1.4M Insurance Scam

A 66-year-old central New York man has been sentenced to 21/2 years in federal prison and ordered to pay more than $1.4 million for staging ...

AmWins Acquires Long-Term Care Specialist CIMI Professional

AmWINS Program Underwriters (APU), an AmWINS Group company, has acquired certain assets of CIMI Professional. CIMI Professional is a ...

Aon Risk Solutions Announces 2 Appointments in Pittsburgh Office

Aon Risk Solutions, the global risk management business of Aon plc, recently announced the additions of Cherie Pikelis as senior account ...

Connecticut Commissioner Named NAIC's International Committee Chair

Connecticut Insurance Commissioner Thomas Leonardi has recently been named chairman of the International Committee of the National ...
Why Should I Hire You as My Insurance Agent? - new class from Academy of Insurance
Midwest

North Dakota Bill Would Limit Access to Crash Reports

The North Dakota Senate is considering a bill that would clamp down on who can access information from a crash report, putting it at odds ...

South Dakota Lawmakers Endorse Teen Driving Safety Measures

A package of recommendations that would ban beginning drivers from using cellphones behind the wheel and make other changes aimed at ...

South Dakota Must Shift Some Federal Money for Roads

South Dakota will divert some federal highway money to safety issues because the state falls short of national standards when it comes to ...
Southeast

Florida Considers Partners for Health Insurance Exchange

Florida lawmakers heard this week from two organizations that could serve as partners in running an insurance exchange under the federal ...

Florida Supreme Court Hears Challenge to Breath Test Software

The Florida Supreme Court is hearing a request from three drunken driving defendants for access to software for breath testing machines. ...

Mississippi County Lets Fire Departments Charge Patients for Medical Response

Harrison County supervisors have voted to allow American Medical Response to send a separate bill to patients when city and county fire ...

Workers' Compensation Insurer MEMIC Expanding to Florida

Portland, Maine-based workers' compensation insurer The MEMIC Group said it will open its first office in Florida in the second quarter of ...

Digital Insurance Acquires Tennessee's Capital Benefits Group

Atlanta-based employee benefits agency Digital Insurance has acquired Tennessee's Capital Benefits Group. It marks Digital's first office ...

MedMal Direct Expands into Georgia

Jacksonville-based MedMal Direct Insurance Co. (MedMal Direct) has received its certificate of authority from the Georgia Department of ...
South Central

Conservative Oklahoma Lawmaker, ACLU Team Up on Privacy Rights

A conservative Oklahoma lawmaker and the American Civil Liberties Union of Oklahoma are working together to advance legislation to privacy ...

Oklahoma Commissioner Backs Temporary Insurance Plan for Uninsured Drivers

A pair of legislative proposals would allow Oklahoma law enforcement officers to remove the tags of uninsured vehicles and create a ...

Cause of Super Bowl Power Outage Remains Unclear

As the Superdome's energy provider and stadium management try to determine what caused a 34-minute power outage at Super Bowl in New ...
West

Big Quake Could Cause $30B Damage to Oregon

A state commission says a magnitude 9 earthquake off the Oregon coast and tsunami could cause more than $30 billion damage to the state ...

Idaho Insurance Agent Gets Suspended Sentence

A former Farmers Insurance agent from Meridian, Idaho was sentenced to up to five years in prison after he pleaded guilty to diverting ...

Bill Would Expand Definition Of DUI in Oregon

Oregon lawmakers are considering a bill that would expand the definition of drunken driving to include prescription drugs and synthetic ...

Washington City, University Sued Over Student Kayaking Death

The mother of a Gonzaga University student who died on a kayaking trip sponsored by the city of Spokane is suing the university and the ...

Settlement In Hawaii School Sex Abuse Lawsuit

The state of Hawaii has agreed to pay $5 million to settle a sex assault lawsuit at the Hawaii Center for the Deaf and the Blind. Hawaii ...

California Contractors Praise Charges Against Pool Company

An announcement at the beggining of the month by the Riverside County District Attorney's Office that it's bringing criminal charges that ...

McQuillin Joins Navion in Southern California

Ron McQuillin has joined Navion Insurance Associates as a commercial lines producer. McQuillin will be working out of Navion's Mission ...
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International

Earthquake, Tsunami Kills at Least 5 in Solomon Islands; Alerts Now Cancelled

A powerful 8.0 magnitude earthquake set off a tsunami that killed at least five people in a remote part of the Solomon Islands on Wednesday ...

Earnings Report: AXIS Capital Holdings

Selected earnings highlights* from Bermuda-based AXIS Capital Holdings for the fourth quarter and the full year 2012 are as follows: ...

Trotti to Head AIG's International Aerospace Unit

American International Group announced that Joseph J. Trotti has joined the company as President and CEO of its Aerospace division, part of ...

Lockton Re Hires New Execs to Strengthen Global Reinsurance Capabilities

Privately-owned Lockton and its specialist reinsurance division, Lockton Re, announced the strengthening of its global brokerage and client ...
Sponsored Content

Sparta Expands its Business Relationship with American Claims Management

San Diego, CA, 02/06/13 - American Claims Management, Inc. (ACM), a national third party administrator, is now handling claims for the ...
Insurance Journal Blogs

Insurance Email Marketing Tactics You Can't Live Without!

This post is part of a series on insurance marketing and training sponsored by Astonish. Email marketing may not be as hip as social media, ...

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North Carolina Home (Insurance) Improvement: Commissioner Goodwin

Recently re-elected North Carolina Insurance Commissioner Wayne Goodwin welcomes his expanded...
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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

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
1st Year as a Producer Stories
Posted: Wed Feb 6 -- Great feedback all around... Now- here is the question: I am 4 months in. Should I start with CISR, or start with CIC. I am not a CSR but... californiadude
Farmers vs. Independent
Posted: Wed Feb 6 -- "Thanks lonestar, One more question for you? They say after you are a reserve agent first three months, you can become a career agent, and... lonestar
Best mgmt system for small agency
Posted: Tue Feb 5 -- James - if you are looking for a small easy to use system I may have a solution for you. I use ACT! and have built a template for it. I have... beyert1
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
Credit Card Processing
Posted: Tue Feb 5 -- It all depends on your monthly transaction volume and your gross margin (commission). Remember that you're paying a rip to the CC processor... DBL Surety
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
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
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
Republicans to Block Obama Consumer Financial Bureau Chief
Posted: Mon Feb 4 -- "But the senators said "common sense reforms" are needed before they will confirm anyone to lead the bureau." Do any of our elected... P/L Underwriter

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