Daily Headlines: Wednesday, May 2, 2012

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May 2, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Insurance Analysts to Question Buffett at Berkshire’s Annual ‘Woodstock’ Warren Buffett is not one to talk much about his personal life in public, but his prostate cancer may dominate the conversation this ... U.S. Opposes Delay in BP Oil Spill Trial The U.S. government said a trial to assign blame and damages among BP Plc and others over the 2010 Gulf of Mexico oil spill should not be ... More Families Building Their Own Tornado Shelters When deadly twisters chewed through the South and Midwest in 2011, thousands of people in the killers' paths had nowhere to hide. Now many ... Regulators Urged to Monitor Safety Throughout Drug’s Lifecycle The U.S. Food and Drug Administration should review drugs on a regular basis for as long as they are on the market in order to catch any ... Survey: Agencies Seek Carrier Help to Expand into New Niches The challenges of today's economy appear to be driving some independent agents into new niche insurance markets and product lines. Almost ... Hanover Insurance Group Q1 Profit Up 70% to $49.7M The Hanover Insurance Group reported $49.7 million net income for its 2012 first quarter, up 70 percent from $29.3 million reported during ... Marsh & McLennan Posts $347M Q1 Income, Up 6.8% From Last Year Marsh & McLennan Cos. Inc. reported $347 million net income for its 2012 first quarter, up 6.8 percent from $325 million reported ... Assurant, Inc. Launches Solar Project Insurance Assurant, Inc. has unveiled a new insurance product for commercial solar project developments designed specifically for the 100 kilowatts ... Lexington Launches Technology Contract Risk Policy Lexington Insurance Co. has introduced a technology contract risk policy called Parity.  Parity protects organizations from potential ... Marsh Coverage Responds to Government Crackdown on Healthcare Executives Corporate officers in every industry have to be on guard when it comes to enforcement of federal laws and, according to insurance broker... Business Income Demystified At Last - A Training Series Few insurance coverages illicit such fear or visceral reactions as does business income coverage (aka time element coverage). Without being too glib, business income concepts are... More National News East Judge Rejects Strauss-Kahn Immunity in Civil Damages Lawsuit A New York judge rejected former International Monetary Fund chief Dominique Strauss-Kahn's claim of diplomatic immunity on Tuesday, ruling ... New York Issues New Rule to Crack Down on No-Fault Insurance Fraud New York State regulators are expanding their effort to stop no-fault auto insurance fraud. The New York Department of Financial Services ... N.J. Examines Stop-Loss Insurance for Self-Insured Small Businesses A growing number of small businesses in New Jersey are self-funding or self-insuring their employees' health insurance costs, and they are ... N.J.-Based Selective Appoints New Member to Board of Directors Branchville, N.J.-headquartered Selective Insurance Group appointed Annabelle Bexiga as a new independent member to its board of directors. ... Virginia Jury Convicts Costa Rican Man in $485M Fraud A federal jury in Virginia convicted a former Costa Rican insurance executive on Monday of all counts in a $485 million fraud scheme in ... More East News Midwest Fire Deaths Prompt Ohio Apartment Inspections Safety officials are inspecting more than 250 apartment and condominium buildings near Toledo, Ohio following the March deaths of two ... Kansas Senate Oks Disaster Funds Bill The Kansas Senate has approved legislation creating a special fund to help cover the state's costs after a federal disaster declaration. ... Christian Group Sues Michigan City, Muslims Over Event A Christian legal advocacy group has claimed in a federal lawsuit that officials in a western Michigan city violated the rights of a ... OSHA Investigating Death At South Dakota Steel Business The Occupational Safety and Health Administration is looking into the death of a worker at a Rapid City, S.D. steel business. ... A.M. Best Downgrades Ratings of Missouri's Gateway Insurance A.M. Best Co. has downgraded the financial strength rating to B (Fair) from B+ (Good) and issuer credit rating to "bb" from "bbb-" ... More Midwest News Southeast Mississippi Lawmakers Pass Workers’ Compensation Changes Backed by Employers Mississippi legislators offered sharply different views of a bill they passed Monday to change the way compensation is awarded to workers ... Gaylord Hotels Suing Government Over 2010 Nashville Floods Gaylord Entertainment Co. has filed a lawsuit accusing the National Weather Service and the U.S. Army Corps of Engineers of negligence that ... South Carolina Coast Bracing for Next Wildfire Pat Henry will long remember that April night when the western horizon glowed an eerie red, smoking embers cascaded from the sky, and she ... More Families Building Their Own Tornado Shelters When deadly twisters chewed through the South and Midwest in 2011, thousands of people in the killers' paths had nowhere to hide. Now many ... Allied World Re Opens Miami Office for Latin America; Names Turkel Senior VP Allied World Reinsurance Co. has opened a new office in Miami in order to further expand its operations in Latin America.  The Miami ... Court Reverses Mississippi Award Over ‘Negligent’ Flood Policy Advice An insurance company selling federal flood insurance has won a case against a Mississippi homeowner who claimed the insurer was negligent ... Aon Risk Solutions Appoints Resident Managing Director in Atlanta Aon Risk Solutions, the global risk management business of Aon plc, appointed John Jassmann to resident managing director in Atlanta. In ... More Southeast News South Central Insurance Industry Charitable Foundation Expanding into Texas, SE Another job was the last thing Bill Henry wanted when he was approached to head up a new division of the Insurance Industry Charitable ... Dead Mexican Teen’s Family To Pursue Suit in Texas A lawyer for the family of a 15-year-old Mexican boy killed by a U.S. Border Patrol agent in 2010 says they will press on with their ... Oklahoma Shopping Center Sues Insurer, Metal Plant, Others The owner of a Muskogee, Okla. shopping center damaged during a deadly explosion seven years ago has sued a scrap metal plant. An insurance ... Texas Gets More Than $61M For Health Centers Texas has been awarded more than $61 million in federal grants to support community health centers. The funding was announced Tuesday by ... Oklahoma Governor Signs Firefighter Training Incentive Legislation Legislation signed into law by Oklahoma Gov. Mary Fallin will improve on a current training incentive for firefighters, according to the ... More South Central News West Montana Couple Seeking Damages From Broker For Fed Raids A Helena couple that rented a greenhouse to a medical marijuana operation have sued their insurance broker after their insurance company ... Adjuster Sams & Associates Adds Adkins Insurance adjuster Sams & Associates Inc. added Lizzy Adkins as their new regional manager and multiline adjuster in Seattle, Portland ... Lawsuit Seeks Overtime Wages For ACS Employees A class action complaint was filed against Alaska Communication Systems Group alleging sales and marketing personnel were not paid ... Wyoming Hires 7 Workplace Safety Employees Wyoming has hired seven employees to do workplace safety checks with new funding from state lawmakers. The director of the Department of ... A.M. Best: Century-National Upgraded to A A.M. Best Co. has upgraded the financial strength rating to A (Excellent) from A- (Excellent) and issuer credit rating to "a" from "a-" of ... More West News International Geneva Association Reminds Federal Reserve Insurers Aren’t Banks The Swiss-based insurance think tank Geneva Association has followed up on its recent report as to whether or not some insurers should be ... Reuters Columnist James Saft on Europe’s Credit Crunch; Bank Capital Europe looks to be entering a credit crunch, with loans harder to get and those that are made coming on tougher terms. Strikingly, banks ... Willis Capital Reports Strong Growth in Cat Bond Market; $1.3 Billion in Q1 The latest Insurance-Linked Securities (ILS) Market Update from Willis Capital Markets & Advisory (WCMA), part of global insurance ... Earnings Report: PartnerRe Selected earnings highlights from PartnerRe for the first quarter of 2012 are as follows: ... Willis Re Appoints Welsch to Central Reinsurance Team Willis Re, the reinsurance arm of Willis Group Holdings, has appointed Andrea Welsch to the position of Executive Director, effective May ... More International News Join the Insurance Journal Network Insurance Journal TV Annual Live Training Burn Educates Adjusters Pat Andler, a certified fire investigator and owner of Andler & Associates discusses the... Watch Now What D&O Buyers Look For In a Carrier What do insureds look for when shopping for a carrier to provide director and officers... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums 1-800-Car-Insurance Posted: Tue May 1 -- The beauty is of my business model is that calls are routed geographically. Therefore, you will get the calls from the people that you are... glabman Aviation Products Liability - Non-Critical Parts Posted: Tue May 1 -- Who has aviation markets for non-critical parts with premiums starting under 10k? ... InsureTime Is it possible to get insurer appointments just starting out Posted: Mon Apr 30 -- d's insurance store usually gives good advice-this time is no exception. I will be a bit more blunt...6 months to a year will only scratch... jackwehoca New Venture - Non-Emergency transporation Posted: Sat Apr 28 -- I am looking to insure the same risk. Any luck meytai? marmar NEEDED:History and Current Trends of the Independent Agent Posted: Fri Apr 27 -- The state to the north of you has a resource as well. PIA (Professional Insurance Agents Association). They can be a vast resource &... dm307799 How do you ask for a referral? Posted: Thu Apr 26 -- Instead of referrals, have you tried using any lead services? Auds looking for feedback/advice please.... Posted: Wed Apr 25 -- My suggestion is to work with an independent agent as a producer. The KEY is to negotiate a good commission split and that YOU OWN YOUR BOOK... NYagent301 What are your thoughts on the insurance industry Posted: Tue Apr 24 -- The key question for anyone thinking that the road to riches is paved with personal lines insurance policies is to ask 'what can I do... d's insurance store Go to Forums Reader Comments Transportation Chief Calls for National Ban on Cell Phone Use While Driving Posted: Fri Apr 27 -- We have this law in Maryland for texting and cell phone use, but you never see it enforced as it is a secondary offense and really only gets... Delinquent Missouri Woman Wins $5.8M in 'Girls Gone Wild' Case Posted: Tue May 1 -- i know. i was kidding. nobody wants that to happen to themselves or someone else. nudity's kind of a funny thing though honestly...we're the... George As America's Waistline Expands, Costs Soar Posted: Mon Apr 30 -- Holy Cow! What can you do besides educate people, and then get them to take responsibility for their actions? Everything can be cured by a... Bluto Blutarski Victims of Cyberbullying Fighting Back in Libel Suits Posted: Mon Apr 30 -- If someone spoofs a web-site or F/B page as another person isn't that identity theft or wire fraud? Seems that that would be worthy of... Ins Guy Former N.J. School Chief in Insurance Bribery Scheme Drops Suit Posted: Thu Apr 26 -- Dear Mr. Ritacco: You broke the law in the performance of your duties. Sorry but we don't feel obligated to live up to the terms of your... reality bites Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue April 16, 2012 Big "I" Issue with Young Agents Survey; Medical Professional Liability; Business Interruption / Business Income; Bonus: Education & Training Directory 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 Workers' Compensation Adjuster Marketing Representative Vice President of Claims Management Trainee 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.

Daily Headlines: Tuesday, May 1, 2012

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May 1, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Nationwide Mutual Completes Harleysville Merger Nationwide Mutual Insurance Co. said that the company completed its previously announced $834 million merger deal with Harleysville Mutual ... Bill Aims to Fix Problems with Medicare Set-Asides for Workers’ Compensation The insurance industry is among the business and legal interests applauding legislation to resolve delays and inconsistencies in ... Fewer Auto Insurance Buyers Shopping But More Switching Carriers: J.D. Powers The auto insurance shopping rate has reached the lowest point in the past five years, with only 25 percent of insurance customers ... Ratings Recap: Gateway, State Mutual, Discovery, Southern Mutual A.M. Best Co. has downgraded the financial strength rating to 'B' (Fair) from 'B+' (Good) and issuer credit rating to "bb" from ... Allianz, CargoNet Introduce Deductible Waiver Agreement Allianz Global Corporate & Specialty (AGCS) has announced an agreement with its U.S. affiliate AGCS Marine Insurance Co. and CargoNet, ... The Main Street America Group Enhances Automated Commercial Auto Product The Main Street America Group has introduced a remodeled commercial auto product to independent insurance agents who represent the super ... OneBeacon Forms New Specialty Program Group OneBeacon Insurance Group, Ltd. has formed its newest specialty business, OneBeacon Program Group (OBPG), which will be led by President Dan... Business Income Demystified At Last - A Training Series Few insurance coverages illicit such fear or visceral reactions as does business income coverage (aka time element coverage). Without being too glib, business income concepts are... More National News East Mass. Health Insurance Base Rate Up 1.2% on Average for Third Quarter The Massachusetts Division of Insurance (DOI) said this week that it is placing on file small-group health insurance base rates for the ... New England Officials Testify at Storm Hearing Spurred by major storms that had left millions of New Englanders without power last year, a Senate committee is questioning what can be ... Dispute Over Insurance Management Heads to Hearing in New Hampshire A long-running dispute over how a nonprofit organization manages health insurance for 80,000 state workers and retirees in New Hampshire ... Aon Risk Solutions Appoints Senior VP in Washington, D.C., Office Aon Risk Solutions, the global risk management business of Aon plc, recently hired industry veteran Kathy Jacobson as senior vice president ... Coverage for Paranormal Activity? It Depends on the Specifics One of the biggest stories in Toms River, N.J., in recent weeks involved an alleged haunted house in the neighborhood. According to local ... More East News Midwest St. Louis Stadium Tent Collapse Raises Safety Questions St. Louis, Mo., officials are expected to more closely scrutinize the large tents commonly set up near downtown stadiums after one of the ... Fireman's Fund Names to Roth High Net Worth Role in Chicago Novato, Calif.-based Fireman's Fund Insurance Co. added Lee Roth as a new high net worth personal insurance executive in its Chicago ... Lawsuit Targets Indiana's Largest Hospital Group Indiana's hospital boards and trial lawyers are closely monitoring a lawsuit that accuses the state's largest hospital group of charging ... More Midwest News Southeast Mississippi Wind Pool Buys $815 Million in Reinsurance Mississippi's insurer of last resort has bought $815 million in reinsurance for the coming storm season. The Mississippi Windstorm ... Alabama Lawmakers Pass Tax-Free Weekend for Disaster Supplies As Alabama prepares to observe the first anniversary of deadly tornadoes last April 27, the Legislature approved the creation of a tax-free ... Alabama Beach Condo Developer Wants BP to Pay Claim Developers of an Orange Beach, Alabama condo project say BP should pay out a claim they filed for losses they say resulted from the 2010 ... More Southeast News South Central Red River Waterway Closure Business Interruption Costs Adding Up The costs of closing the Red River Waterway in Louisiana for 15 days haven't been fully totaled, but they're adding up to millions of ... Oklahoma House Again Passes Severe Weather Liability Bill Legislation approved by the Oklahoma House of Representatives would eliminate liability for any entity or person providing access to a safe ... Bockmon Joins All-Star Insurance in New Texas Office Gilmer, Texas-based All-Star Insurance Group Inc., a full service independent insurance agency, has appointed Leslie Bockmon as an agent. ... More South Central News West Hunter Joins Woodruff-Sawyer & Co. in Sacramento Woodruff-Sawyer & Co. announced that Linda M. Hunter has joined the firm as vice president, Sacramento Employee Benefits practice ... Tanana River Ice Jam Floods Alaska's Manley Hot Springs Five homes have been flooded in the interior Alaska community of Manley Hot Springs and high water is threatening 20 more. The Fairbanks ... Colorado Wildfire Ambushed Crews, Surprised Residents Outside the windows of Steve Foster's pickup, Armageddon was coming. A rampage of smoke – white and streaked with black – crested the ... 1000s Ticketed For Using Cellphones While Driving Thousands of Nevadans have been ticketed for violating a new state law prohibiting the use of cellphones while driving. According to the ... Southern Arizona Science Project Sparks Wildfire A science project at a southern Arizona school sparked a 15-acre wildfire and led to the school's evacuation. The project involved model ... More West News International Shipping Exec: India’s State Insurers to Provide $50 Million Cover for Iran Oil Buy Indian state-run insurers have agreed to give limited cover to local ships for carrying Iranian oil, helping the energy-hungry country ... Willis Review Sees Better Times Ahead for Aviation Industry The airline and aviation manufacturing insurance markets turned a profit in 2011 "following one of the safest years in recent times in ... Lockton Consolidates International Operations with Trident III Buyout Insurance broker Lockton announced that it has acquired the minority stake in its operations outside the U.S. held by Trident III, L.P., an ... Earnings Report: Aspen Holdings Selected earnings highlights from Aspen Holdings for the first quarter of 2012 are as follows:      ... SCOR Posts 11% Increases in Renewal Pricing SCOR Global P&C (SGPC) recorded 11 percent growth at constant exchange rates from the €328 million [$435 million] in premiums that ... More International News Sponsored Content Insurance Journal now available on the iPhone - Download it free today! More Sponsored Content Insurance Journal Blogs Sponsor Post: WARNING: Leveraging the Power of LinkedIn Will Lead to Networking and Growth Opportunities! This post is part of a series sponsored by Astonish Results. Since it focuses on business and networking opportunities as opposed to photos ... More Blogs Join the Insurance Journal Network Insurance Journal TV Annual Live Training Burn Educates Adjusters Pat Andler, a certified fire investigator and owner of Andler & Associates discusses the... Watch Now What D&O Buyers Look For In a Carrier What do insureds look for when shopping for a carrier to provide director and officers... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Is it possible to get insurer appointments just starting out Posted: Mon Apr 30 -- d's insurance store usually gives good advice-this time is no exception. I will be a bit more blunt...6 months to a year will only scratch... jackwehoca 1-800-Car-Insurance Posted: Mon Apr 30 -- I can understand how words in phone numbers can drive you nuts. The bottom line is that they work, and companies spend millions of dollars... glabman New Venture - Non-Emergency transporation Posted: Sat Apr 28 -- I am looking to insure the same risk. Any luck meytai? marmar NEEDED:History and Current Trends of the Independent Agent Posted: Fri Apr 27 -- The state to the north of you has a resource as well. PIA (Professional Insurance Agents Association). They can be a vast resource &... dm307799 How do you ask for a referral? Posted: Thu Apr 26 -- Instead of referrals, have you tried using any lead services? Auds looking for feedback/advice please.... Posted: Wed Apr 25 -- My suggestion is to work with an independent agent as a producer. The KEY is to negotiate a good commission split and that YOU OWN YOUR BOOK... NYagent301 What are your thoughts on the insurance industry Posted: Tue Apr 24 -- The key question for anyone thinking that the road to riches is paved with personal lines insurance policies is to ask 'what can I do... d's insurance store Go to Forums Reader Comments Republicans Prepare Should Supreme Court Overturn Healthcare Plan Posted: Wed Apr 25 -- This is pure rubbish. Your comments are stereotypes, assumptions and generalizations. Jill Returning Soldiers Involved in More Car Crashes: Study Posted: Tue Apr 24 -- God bless our men and women in uniform, and those who wore it proudly. I suppose we should be grateful that they're not driving armored... reality bites Missouri Woman Wins $5.8M in 'Girls Gone Wild' Case Posted: Mon Apr 30 -- You're both disgusting. How would you feel being pantsed at a bar and having it filmed and distributed it without your permission. It's... Flipside Former N.J. School Chief in Insurance Bribery Scheme Drops Suit Posted: Thu Apr 26 -- Dear Mr. Ritacco: You broke the law in the performance of your duties. Sorry but we don't feel obligated to live up to the terms of your... reality bites As America's Waistline Expands, Costs Soar Posted: Mon Apr 30 -- Holy Cow! What can you do besides educate people, and then get them to take responsibility for their actions? Everything can be cured by a... Bluto Blutarski Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue April 16, 2012 Big "I" Issue with Young Agents Survey; Medical Professional Liability; Business Interruption / Business Income; Bonus: Education & Training Directory 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 Workers' Compensation Adjuster Marketing Representative Vice President of Claims Management Trainee 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.

Breaking News: Nationwide Mutual Completes Harleysville Merger

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May 1, 2012 Breaking News Alert Nationwide Mutual Completes Harleysville Merger Read the full story Nationwide Mutual Insurance Co. said that the company completed its previously announced merger deal with Harleysville Mutual Insurance Co. The deal was first announced in September 2011. Nationwide Mutual policyholders voted to approve the merger on April 9, 2012. Harleysville Mutual policyholders and Harleysville Group stockholders approved it on April 24, 2012. Read the full story Send to a Friend 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.

Insurance Journal TV: Healthcare Evolution Creates New Risks for Industry Executives

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May 1, 2012 Feature Video Healthcare Evolution Creates New Risks for Industry Executives National healthcare reform legislation passed by Congress in 2010 may or may not survive consideration by the U.S. Supreme Court, but the healthcare system is already evolving in... Watch Now Popular Videos New BevCap Program Targets Beer Distributors Belfor's Building Blocks Promote Fire Education More Insurance Videos Watch InsuranceJournal.tv Subscribe to our iTunes Channel 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.