Daily Headlines: Thursday, February 2, 2012

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February 2, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Federal Insurance Office Says Overdue Regulation Report Still Weeks Away The Treasury Department's Federal Insurance Office was expected to complete and send its highly anticipated report on modernization of ... Super (Insurance) Coverage for the Super Bowl They say it's a game, but it's really a lot more than that. For football fans, the Super Bowl is every holiday rolled into one, especially ... Major Companies Keeping Cyber Attacks Secret from SEC, Investors: Report At least a half-dozen major U.S. companies whose computers have been infiltrated by cyber criminals or international spies have not ... Nuclear Accidents Pose Little Risk to U.S. Health, Say Regulators The risk to public health from a severe nuclear power plant accident in the United States is "very small" because reactor operators should ... Brokerage Schwab Hit with Complaint Over Client Lawsuit Waivers Wall Street's own watchdog filed a complaint against Charles Schwab Corp. on Wednesday accusing the online brokerage of requiring customers ... Allstate Doubles Q4 Profit Allstate Corp. reported that its profit more than doubled in the fourth quarter thanks to lower catastrophe losses and improved homeowners ... Media Firms Could Face Insurance Woes in 2012 U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012,... More National News East Kodak Employee Sues Company Directors Over Stock An Eastman Kodak employee filed a civil lawsuit against Kodak's board members and other fiduciaries of the photography companies' ... Markel Reports $52.3M Q4 Income, Down 63% From One Year Ago Markel Corporation reported $52.3 million for its 2011 fourth-quarter net income, down 62.8 percent from one year ago when the specialty ... Diederich Healthcare Expands Med Mal Coverage to New Jersey Diederich Healthcare has expanded its coverage area to include physicians practicing in New Jersey. The expansion offers additional ... Pfizer Recalls 1M Birth Control Packs After Mixup Pfizer Inc. is recalling 1 million packets of birth control pills because of a packaging error that could leave women with an inadequate ... More East News Midwest MJ Insurance Adds Two to Growing Employee Benefits Division MJ Insurance, a property/casualty and employee benefits agency headquartered in Indianapolis, Ind., has hired Kimberly Balling as a client ... Talk of ‘Tornado Tourism’ Stirs Anger in Joplin, Missouri Eight months after a tornado laid waste to much of this city, Joplin, Mo., is wrestling with an emotional question: Should the community ... Origami Risk Adds Culpepper, Franks Origami Risk, based in Glencoe, Ill., has hired Mary Culpepper as a senior account executive and added Jason Franks as sales director. ... North Dakota Vehicle Registrations Top 1 Million For 684,000 North Dakotans, there are now 1 million vehicles. North Dakota Transportation Department director Francis Ziegler reports ... More Midwest News Southeast Judge Allows South Carolina Company’s Twitter Lawsuit Against Employee A South Carolina company's lawsuit accusing a former employee of costing it hundreds of thousands of dollars in lost business when he took ... West Virginia Mutual Names Wallace President, CEO Physician insurer West Virginia Mutual Insurance Co. is under new leadership after naming R. Austin Wallace to serve as president and chief ... More Southeast News South Central U.S. Supreme Court Refuses to Stop Louisiana Citizens Judgment The U.S. Supreme Court has refused to stall payment of a $93 million judgment against Louisiana's property insurer of last resort, a ... Texas Agents Honor State Lawmakers with Independent Leadership Award The Independent Insurance Agents of Texas (IIAT) has presented Independent Leadership Awards to the Honorable Kelly Hancock, Texas House of ... Texas Business Pleads Guilty to Hiding Payroll A Midland, Texas-based company has pleaded guilty to misrepresenting the payroll of an affiliated firm, according to workers' ... BP Emails Reveal Company Veiled Spill Rate On the day the Deepwater Horizon sank, BP officials warned in an internal memo that if the well was not protected by the blow-out preventer ... More South Central News West Denver Workers’ Comp Privatization Gets Cool Reception A proposal to privatize the only state-chartered workers' compensation company is getting a cool reception from a special panel reviewing ... Early Tally: January Storms Cause $38M Damage In Oregon Preliminary assessments indicate the wind, rain and snow that hit Oregon in mid-January caused an estimated $38 million in damage to nine ... Alaska Volcano Lava Dome Forms, Alert Level Raised The warning level for a remote Alaska volcano has been raised after a new lava dome began forming, indicating the mountain could explode ... Study: California Workplace Safety Program Only Superficially Enforced An occupational safety program that requires California businesses to eliminate workplace hazards only works when it's adequately ... California's Jones Announces Multi-State Effort on Climate Risk Disclosure California Insurance Commissioner Dave Jones on Wednesday announced that the California Department of Insurance has joined with Washington ... U-Haul Parent to Strengthen Loss Reserves on Discontinued Workers' Comp Business Reno, Nev.-based AMERCO (Nasdaq: UHAL) announced on Wednesday that following an internal review of its property and casualty subsidiary's ... More West News International Haiti, Dominican Republic May Be Entering Big Earthquake Period Haiti and the neighboring Dominican Republic could be in for a period of periodic powerful earthquakes, according to a recent scientific ... Korea Life Considers Bid for ING’s Asia Insurance Business Korea Life Insurance Co. Ltd said on Thursday that it is reviewing the feasibility of bidding for ING Groep NV's Asia-Pacific insurance ... Japan Governor Wants Nuclear Safety Pledge in Writing Japanese governor Tokihiro Nakamura believes nuclear power is vital for the resource-poor land, but even he says the central government ... Europe Freeze Kills 89; Fears Rise over Russian Gas Record-low temperatures in parts of Eastern Europe pushed the death toll from Arctic conditions to at least 89 people on Wednesday, and ... ABI Warns of Increased Flood Risks in England and Wales The Association of British Insurers (ABI) has warned that the flood risk faced by communities in political constituencies across England ... Earnings Reports: ACE Limited Chairman and CEO Evan G. Greenberg commented: "ACE had a very good fourth quarter and year given the record ... UK’s Evolution Secures Allianz Capacity for Additional 5 Years Commercial underwriting specialist Evolution Underwriting has announced the extension of its capacity arrangements with Allianz for a ... More International News Sponsored Content Agents & Brokers: Take IJ's 2012 Agency Salary Survey Today and Receive an Advance Copy of the Story and the Survey Results! More Sponsored Content Join the Insurance Journal Network Insurance Journal TV How Insurance Distribution Is Changing Retail and wholesale brokers face the challenge —and opportunity— of redefining their... Watch Now Vertafore: Intelligence in Technology Insurance technology leader Vertafore serves 15,000 agencies, 1,000 carriers and about 750... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Farmers - your opinion Posted: Thu Feb 2 -- I too agree with the prior posts. I came to Farmers after having been in the IA enviroment for over 10 years where I was a top PL producer,... Was a Farmers Agent General Cont wants AI on auto and Excess Posted: Thu Feb 2 -- The COI needs to state that the Umbrella is following form for all underlying coverages and endorsements. As to the BAP, if the policy... Big Dog Software - Agent, not Agency Posted: Wed Feb 1 -- I have been searching the forum and see mostly postings for agency software. I am looking for software to just track my business. I am a... sunny Personal Quake Insurance - CA Posted: Wed Feb 1 -- Fidelity gives direct appointments to retail agents, not sure if you can access them through a GA or not. Their rates may not necessarily... wariline Taxi company - CA 25 Units Posted: Wed Feb 1 -- Mercury pulled out of the market so they wont renew. We are one of the two agencies who had mercury taxi. So the account is either with us... JAM Do you purchase Damage Waiver when renting a car? Posted: Mon Jan 30 -- If I'm traveling and will be driving quite a bit in an urban area with which I am not familiar and the weather is or is projected to be... mightyquinn How do you ask for a referral? Posted: Fri Jan 27 -- Another way is to send an email (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd Go to Forums Reader Comments People Lie More When Texting Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo Lawyers Jump Into Cruise Ship Disaster Cases Posted: Mon Jan 30 -- At least we're exporting something. youngin' Bill Targets Arizona Toll Road Evaders Posted: Tue Jan 31 -- And a law against concealed ray-guns just in case someone invents one. Anejo Costa Cruises Offers Settlements to Passengers Posted: Fri Jan 27 -- I thought there was a law that you couldn't bring suit in the U.S. because the ship was registered abroad, or something to that extent. If... DS Boston Judge Orders 14 Drug Cos. to Settle Breast Cancer Case Posted: Sat Jan 28 -- Suzanne: I wish you all the luck in the world. I am also a DES daughter. My mom took the drug throughout her entire term with the exception... maddog Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Excess, Surplus & Specialty Markets Directory Vol. I January 23, 2012 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Underwriting Account Manager Regulatory Reporting Specialist Vice President of Claims - Commercial P&C Experienced P & C Claims Adjuster Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. 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Daily Headlines: Wednesday, February 1, 2012

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February 1, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Willis Exec Touts Captives As Key Tool in World of Changing Risks In an environment of rapidly evolving risks, purely anticipating risk is not enough. Organizations also need to focus on building ... Office Super Bowl Pool? How to Pick Like a Pro With Super Bowl XLVI less than a week away, armchair quarterbacks are flexing their biceps to throw hard-earned cash into the office pool. ... New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe ... AMS RRG Launches Plastic and Aesthetic Surgery Program AMS RRG will start offering new medical liability insurance coverage options specifically designed for plastic and aesthetic surgeons ... Halliburton Wins Ruling vs. BP Over Some Gulf Oil Spill Claims A federal judge on Tuesday said Halliburton Co. is not liable for some pollution claims arising from the 2010 Gulf of Mexico oil spill, ... Best Affirms American Service Pool Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating of 'B' (Fair) and issuer credit ratings (ICR) of "bb" of Illinois-based ... Media Firms Could Face Insurance Woes in 2012 U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012,... More National News East W.R. Berkley Posts Q4 Profit of $118M; Average Renewal Rates Up 4.2% W.R. Berkley Corporation reported net income of $117.9 million for its 2011 fourth quarter, a 7 percent decline compared to the same period ... Virginia High Schools Join in Safe-Driving Campaign Nearly three dozen Virginia high schools are participating in a safe driving campaign starting this week. The Virginia State Police is ... Penn. Regulators Recovered $3.2M in Restitution for Consumers in 2011 The Pennsylvania Insurance Department said its office of market regulation completed 334 enforcement actions and market conduct ... Deadline Feb. 2 for Quake-Related Jobless Benefits in Virginia People in five counties and the city of Fredericksburg who lost jobs as the result of a powerful Aug. 23 earthquake face a deadline this ... More East News Midwest Missouri Democrats Vow to Oppose Discrimination Bill Black lawmakers in Missouri, fearful of reversing decades of hard-fought civil rights gains, said they will try to prevent votes in the ... Hylant Group Makes Changes to Executive Management Team Toledo, Ohio-based insurance brokerage firm Hylant Group announced changes to its executive management team. Richard Hylant, who previously ... Chartis Acquires Warranty Services Provider Service Net Chartis announced it has acquired Service Net Warranty LLC, an Indiana-based provider of warranty/extended service plan administration and ... CNA Among Corporations Returning Tax Breaks to Chicago Insurance company CNA Group is one of three Chicago firms returning $34 million in tax breaks to the city. Also among the companies ... More Midwest News Southeast Florida Lawmakers Tackle Cash Checking Ties to Workers’ Comp Fraud Florida lawmakers are looking to give regulators and law enforcement officials more flexibility to investigate check cashing companies that ... Florida Firefighters Win Workplace Retaliation Claim Against Union, County A federal jury has awarded $189,000 to two Tampa Bay area firefighters in a workplace retaliation case. The Tampa Bay Times reported that ... Conoco Phillips Appeals Mississippi Worker’s $15.2M Asbestos Award A Jones County man waited too long to file a lawsuit over exposure his exposure to workplace asbestos, attorneys told the Mississippi ... A.M. Best Downgrades Florida's FFVA Mutual to A- A.M. best has downgraded the financial ratings of FFVA Mutual Insurance Co. due to underwriting losses on its workers' compensation line ... More Southeast News South Central Judge Frees $100M in Louisiana Citizens' Claims Dispute The governing board of Louisiana's property insurer of last resort held a special meeting on Jan. 31 to discuss how to deal with a ... Texas High Court Reaffirms Bar Against Policyholder Negligence Claims In a decision that workers' compensation experts say is good for Texas employees and employers alike, the Supreme Court of Texas issued a ... Builder Agent Network Expands Program for Texas Construction Industry Builder Agent Network has launched a product for home building and contractor markets in Texas. The company, which functions as the ... Workers' Compensation on Legislative Agenda for Oklahoma State Chamber Taxation, workers' compensation insurance and health care coverage top the State Chamber of Oklahoma's agenda for the 2012 legislative ... More South Central News West Wasington: 15 Counties Are Primary Natural Disaster Areas The U.S. Agriculture Department has designated 15 Washington counties as primary natural disaster areas due to extreme weather conditions ... Idaho Gets $625K in Prescription Drug Case Idaho is getting $625,000 in the settlement of a lawsuit with a prescription drug maker accused of selling products at false or inflated ... California Salami Plant to Pay $700K For Ammonia Leak The owners of a South San Francisco salami plant will pay nearly $700,000 and overhaul its refrigeration system as part of a federal ... Report: California Workers' Comp Insurers Returns Improved in 2010 After declining for four consecutive years, California workers' compensation insurers' return on net worth showed signs of improvement ... Measures Taken To Earthquake-Proof Alaskan Hospital For decades, the people who oversaw Fairbanks Memorial Hospital shared a comforting thought about the building—even if a powerful ... Brazilian Blowout Maker Agrees To Labeling Changes The maker of a popular line of hair-straightening products has agreed to alert consumers that two of its formulations emit formaldehyde ... Storm Cost Seattle $1.35 Million The Seattle Transportation Department says the mid-January storm cost the city of Seattle $1.35 million—more than half of its annual snow ... More West News International Japan Cabinet Approves Cap on Nuclear Reactor Lifespan Japan's Cabinet approved bills Tuesday aimed at bolstering nuclear safety regulations following last year's Fukushima disaster, including ... Chubb System Helps Expedite Clinical Trials in China and Brazil An online system from Chubb Group of Insurance Cos. can now be used to instantly obtain specimen policy language for trials in many ... Lime-St.com For Underwriters Launches Cloud Computing for Insurers London Market technology specialists TriSystems has announced the launch of a new electronic underwriting service to complement their ... Willis Re Notes 25% Growth in Insurance Loss Warranty Market A report from Willis Re in London points to 2011 activity as driving a 25 percent growth in Insurance Loss Warranties (ILWs) volume for ... Willis Appoints Trigg as Managing Director for Global Solutions Unit Willis Group Holdings announced that Bruce Trigg will join its Global Solutions team as Managing Director, effective April 1st. he is based ... More International News Sponsored Content All Sponsor and Exhibitor Slots Filled for Direct Connection Advertising and Marketing's 2012 Virtual Insurance Marketplace San Diego, CA, 01/31/12 - The 2012 Virtual Insurance Marketplace, sponsored by Direct Connection Advertising and Marketing, is excited to ... Agents & Brokers: Take IJ's 2012 Agency Salary Survey Today and Receive an Advance Copy of the Story and the Survey Results! More Sponsored Content Join the Insurance Journal Network Insurance Journal TV How Insurance Distribution Is Changing Retail and wholesale brokers face the challenge —and opportunity— of redefining their... Watch Now Vertafore: Intelligence in Technology Insurance technology leader Vertafore serves 15,000 agencies, 1,000 carriers and about 750... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Farmers - your opinion Posted: Wed Feb 1 -- As a former Farmers agent for 22 years (I terminated 2 years ago), the posts by the other former agents are correct. Farmers today is not... William Graham Taxi company - CA 25 Units Posted: Wed Feb 1 -- Mercury pulled out of the market so they wont renew. We are one of the two agencies who had mercury taxi. So the account is either with us... JAM Personal Quake Insurance - CA Posted: Wed Feb 1 -- Thanks for the comments. Curious about Fidelity National. How are they accessed? mightyquinn Do you purchase Damage Waiver when renting a car? Posted: Mon Jan 30 -- If I'm traveling and will be driving quite a bit in an urban area with which I am not familiar and the weather is or is projected to be... mightyquinn Virginia Surety Writer in CA Posted: Mon Jan 30 -- Gail, Call Virginia Surety and ask who represents them in CA Bob Lake How do you ask for a referral? Posted: Fri Jan 27 -- Another way is to send an email (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd Go to Forums Reader Comments People Lie More When Texting Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo Climate Change Lawsuit in Court in Oregon Posted: Thu Jan 26 -- Indeed, I see how many comments have been posted, the vast majority of them completely uninformed about how our legal system works,... The Other Point of View Arkansas Family Sues Driver, Company Over Teen's Death Posted: Tue Jan 31 -- Cell phone use while driving is an accident waiting to happen. Driving a big truck requires more concentration than even a car. I think the... Agent Lawyers Jump Into Cruise Ship Disaster Cases Posted: Mon Jan 30 -- At least we're exporting something. youngin' Bill Targets Arizona Toll Road Evaders Posted: Tue Jan 31 -- And a law against concealed ray-guns just in case someone invents one. Anejo Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Excess, Surplus & Specialty Markets Directory Vol. I January 23, 2012 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Regulatory Reporting Specialist Vice President of Claims - Commercial P&C Experienced P & C Claims Adjuster Vice President of Claims Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. Subscribe | Unsubscribe | Send to a Friend | Contact Us Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.