Daily Headlines: Wednesday, May 9, 2012

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May 9, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Consumer-Directed Health Plans Show Mixed Results Employer-sponsored health insurance plans with low premiums and high deductibles could cut U.S. healthcare costs significantly but not ... Reinsurance Fraud Case Against AIG Ex-CEO Greenberg Going to Trial A New York appeals court on Tuesday gave former American International Group Inc. Chief Executive Maurice "Hank" Greenberg a partial ... Flood Insurance Hearing Held in Washington Senators Jon Tester, D-Mont., and David Vitter, R-La., held a hearing today examining the need for long-term reauthorization and reform of ... La Nina Exits As Expected; El Nino Fate Uncertain The U.S. Climate Prediction Center (CPC) said the La Nina pattern blamed for a crippling drought in Texas and severe dry spells in South ... Ratings: North Country, Liberty Mutual (notes), Allstate (shelf), Am. Freedom A.M. Best Co. has upgraded the financial strength rating to 'A-' (Excellent) from 'B++' (Good) and issuer credit rating to "a-" from ... Insurance Broker Confie Seguros Acquires 6 Agencies Confie Seguros, a personal lines insurance brokerage network focused on Hispanic consumers, said it has completed the acquisition of six ... Submit Today: Top 100 Independent Insurance Agencies Once again, Insurance Journal is on the search for leading privately-held property casualty independent agencies and brokerages for its ... Vanliner Partners with Agents Association on Moving, Storage Agents Program Vanliner Insurance Co., an insurer in the moving and storage industry, introduced a new affinity program developed for moving agents ... Future Vision: Will Driving Become Too Safe to Insure? What would happen to the auto insurance industry if automobile safety improves to the point that vehicle collisions become relics of the ... Game On! Market Conditions Right for Insurers in Sports, Entertainment Segment Americans love their sports and entertainment, and right now so does the insurance industry. Insurers are renewing their focus on this class... More National News East Virginia Regulators End Shenandoah Life Insurance Co.’s Receivership A Roanoke, Va.-based insurance company is no longer in receivership. The State Corporation Commission announced Tuesday that it ended ... N.Y. Officials Target Safety on Dangerous Roadway in Nassau County Safety upgrades are planned for a New York highway that has averaged five pedestrian deaths annually since 2005. Officials in Nassau County ... R.I.-Based Narragansett Bay Insurance Appoints VP Narragansett Bay Insurance Company, a Pawtucket, R.I.-based homeowners insurer, appointed Miles Hunter as vice president of corporate ... Insurance Club of Pittsburgh Announces Insurance Person of the Year Insurance Club of Pittsburgh has named Burns & Wilcox executive Kermit Shaulis as the Insurance Person of the Year. The award was presented ... Genworth Financial Cuts About 80 Positions at Virginia Offices Genworth Financial Inc. has cut nearly 80 positions at two Virginia operations. The move comes days after the Richmond-based company's ... More East News Midwest Missouri Insurance Department Recovers $2M in Q1 2012 The Missouri Department of Insurance reported that it has recovered more than $2 million to consumers in first quarter of 2012. Health ... Claims Hurt National Interstate Earnings in Q1 2012 National Interstate Corp., headquartered in Richfield, Ohio, reported 2012 first quarter gross premiums written of $130.2 million and net ... Kansas Insurance Investigator Receives Meritorious Service Award Randy Adair, chief investigator for the Kansas Insurance Department's Anti-Fraud Division, and a retired deputy chief of police for ... More Midwest News Southeast Florida Looks to Fix Loophole in PIP Reform Law Florida regulators are scrambling to fix a loophole in the state's new auto no-fault insurance law that could affect medical payments to ... Alabama Governor Signs Texting Ban; Expects to Sign Home Insurance Bills Alabama Gov. Robert Bentley has signed into law a measure (HB 2) that prohibits texting while driving. "Signing this bill sends a message ... More Southeast News South Central Hilltop Holdings, PlainsCapital Corp. Sign Merger Agreement Hilltop Holdings Inc. a Dallas-based holding company that through a subsidiary provides fire and homeowners insurance to low value ... Louisiana Lands $2.95M for Return to Work Program The Louisiana Workforce Commission will receive $2.95 million in federal funds to provide additional services to Louisiana's unemployed, ... Regulators Propose $105K Fine for Hazards at Texas Facility The U.S. Department of Labor's Occupational Safety and Health Administration has cited Houston-based AWC Frac Valves Inc. with one willful, ... More South Central News West Colorado Wildfire Compensation Compromise Moving Along A compromise proposal to allow Colorado wildfire victims to seek state compensation in excess of liability limits remains on track for ... Bay Area Business Owners, Employee Nailed For Workers' Comp Fraud Sied "Mike Zarrin" Zarrinsaray, 52, his wife Ronak Barazandeh, 43, the owners of United RMR Enterprises, Inc. of San Jose, were ... Caldiero Joins Yates as VP Klayton Caldiero has joined Tustin, Calif.-based Yates as vice president. He is tasked with enhancing and expanding Yates' casualty ... Idaho Frozen Food Company Settles With EPA An Idaho frozen food company has agreed to pay the Environmental Protection Agency $84,000 for failing to report its possession of ... Insurance Technologies Names Mecham Senior VP, Client Services Colorado Springs, Colo.-based Insurance Technologies LLC named Mike Mecham as senior vice president of client services. Mecham's ... The Buckner Co. Taps Lancaster as VP and Corporate Controller Salt Lake City, Utah-based The Buckner Co. named Frank Lancaster vice president and corporate controller. Lancaster is an accounting ... Famed Dinosaur Expert Testifies In Montana Lawsuit A dinosaur expert who was an adviser for the "Jurassic Park" films testified in a lawsuit between his employer and a developer whose plan ... More West News International UK Seeking Delay to EU’s Iran Ship Insurance Ban The UK is seeking to persuade fellow European Union members to postpone by up to six months a ban on providing insurance for tankers ... UK’s FSA Fines Mitsui Sumitomo Insurance (Europe) $5.4 Million; Bans Exec The UK's Financial Services Authority (FSA) announced that it has fined Mitsui Sumitomo Insurance Company (Europe) Ltd (MSIEu) £3.345 ... A.J. Gallagher Acquires Majority Interest in UK’s Insurance Dialogue Limited Arthur J. Gallagher & Co. announced that it has acquired a 78.5 percent interest in Insurance Dialogue Limited (IDL) of Bournemouth, ... Earnings Report: XL Group Selected earnings highlights from the Dublin, Ireland-based XL Group plc for the first quarter of 2012 are as follows:      ... Aviva Gives Financial Terms of Moss' Departure Following the announcement that Andrew Moss will leave the Aviva Group at the end of May, the company announced that he "will receive basic ... 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 HOA Products completed ops Posted: Tue May 8 -- How can you get the coverage included in the Umbrella if it is not on the primary policy? ALso, is the Products/Completed Ops coverage... LadyBroker Licensed vs non licensed CSR ( CA) Posted: Tue May 8 -- It is also illegal in my state (Texas) unlicensed CSR's cannot discuss coverages at all. Not even a deductible. bkrigsman Residential Apartment Building with Fuses - CA Posted: Tue May 8 -- If you find a market, I would be shocked if the market would supply other than Basic form property coverages. Liability for the apatment... mccluney Is it possible to get insurer appointments just starting out Posted: Tue May 8 -- I'm located in FL as well and have gone through the torture of starting an independent agency from scratch. LOL. Feel free to PM me with any... mangroveman Are Insurance Agents Employees or Independent Contractors? Posted: Tue May 8 -- I'm no CPA, but my thought would be that this should vary based on state employment regulation. mangroveman Go to Forums Reader Comments What to Expect If Supreme Court Strikes Down Obamacare Posted: Thu May 3 -- Hey, I agree with you on Clinton. He's a cheating SOB. Nice role model for the Presidency, huh? The only good thing he did is leave office... Sarah-ahahaha Detroit Schools to Pay $425K To Student's Family Posted: Thu May 3 -- "the matter has been resolved." Is that what the DA says, too? This is criminally negligent homicide, and should be treated as such. Ins Guy Dead Mexican Teen's Family To Pursue Suit in Texas Posted: Wed May 2 -- I'm sorry this kid got killed but throwing rocks at a cop was an invitation for violence and trouble. Rather than making his parents... Water Bug Christian Group Sues Michigan City, Muslims Over Event Posted: Fri May 4 -- A bit off topic, but I find it absolutely ludicris that muslims would presume to control non-muslims by threat of death for simply drawing a... Kurt Victims of Cyberbullying Fighting Back in Libel Suits Posted: Thu May 3 -- Company guidelines where I work do not allow for cell phone usage and company computers will not allow for usage of any social media sites... Andy Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue May 7, 2012 AAMGA Issue; Salute to Super Regionals; Premium Finance 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 Chief Claims Medical Operations Officer Senior Underwriting Assistant - Workers Compensation Personal Lines Account Manager / Customer Service Rep Commercial Account Manager / Customer Service Rep 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: Tuesday, May 8, 2012

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May 8, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Multi-State Regulation Drives Up Commercial Insurance Premiums, Says Iowa Researcher Buyers of commercial liability insurance pay as much as 31 percent more because insurance companies have to comply with regulations from ... Stock Sale Lowers U.S. Stake in AIG to 61% The U.S. Treasury on Monday said it is trimming its ownership stake in American International Group Inc. to 61 percent from 70 percent by ... U.S. Treasury Could See $15 Billion Profit from AIG Bailout: GAO U.S. taxpayers could see a profit from the 2008 bailout of American International Group Inc. (AIG), according to a Congressional report. ... Young Drivers Know Risks But Text Anyway: Survey Most young American drivers agree that it is dangerous to text while driving, but nearly a third admit they do it anyway, a survey by ... Traffic Deaths At Record Low in U.S. in 2011 Traffic fatalities on U.S. roads in 2011 fell to their lowest level since federal safety regulators started counting in 1949, the ... RLI Marine to Pay Activation Fee on Equipment Anti-Theft Tracking Device RLI Corp. has announced that it will pay the theft activation fee for all of its RLI Marine policy holders who purchase and install an ... Current Market Not Yet a 'Classic' Hard Market: P/C Executives The current property/casualty market is not a "classic" hard market, yet anyway. While prices are clearly rising in certain lines including... More National News East Verizon Sets Up Captive Insurer in N.J.; State Now Has 4 Captives New Jersey officials announced this week that the state approved a captive insurance company for telecommunications services giant Verizon ... Two Dozen Agencies to Host Job Fairs Next Week Near Pittsburgh, Penn. Some two dozen independent insurance agencies will host job fair events next week in the Pittsburgh, Penn., region. The agencies said they ... Deadly Crash in Bronx Raises Concerns About New York’s Aging Roadways A freak parkway accident that wiped out three generations of a Bronx family late last month is being touted by some transportation ... New Hampshire Bill Beefs Up Landowner Liability Protections The New Hampshire State Senate's Judiciary Committee is considering a bill aimed at beefing up liability protections for New Hampshire ... ACE Westchester Appoints VP in New York ACE Westchester, the U.S.-based wholesale-focused insurance division of the ACE Group, appointed Richard Luca as vice president of ... More East News Midwest Oak Street Funding, OPTIS Partners Form Strategic Partnership Oak Street Funding, headquartered in Carmel, Ind., announced a new strategic partnership with Chicago-based OPTIS Partners LLC. OPTIS ... Missouri Efforts to Expand Texting Law Again Fall Short Late last year, federal safety officials made a deadly crash in rural eastern Missouri a focal point in a nationwide call to ban drivers ... Hail Storm Depletes St. Louis, Missouri Rental Fleet A recent hail storm damaged thousands of vehicles in the St. Louis area, but good luck trying to find a rental. That's because car rental ... Probe Prompts Kansas Inflatables Company to Cancel Jobs Several parents were caught off guard when two Wichita, Kan., companies that provide inflatable rides canceled reservations at the last ... More Midwest News Southeast Women Allege Sexual Bias, Harassment at Kentucky’s Maker’s Mark Five women are suing Maker's Mark Distillery Inc. in federal court, claiming discrimination and sexual harassment. All of the women have ... Blue Cross Fights North Carolina Claim It Blocks Competition North Carolina's Blue Cross plan and the national Blue Cross licensing organization asked a federal court to reject a lawsuit claiming the ... More Southeast News South Central Oklahoma Insurance Agent Headed to Prison for not Filing Tax Returns An Oklahoma insurance agent has been sentenced to 24 months in federal prison for not filing his federal income tax returns. Barry G. ... 2 Texas Firms Receive Safety Awards from Work Comp Regulators The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) has recognized Detex Corp. of New Braunfels and James ... American National Insurance Names Pozzi President, COO National Insurance Co. (ANICO), based in Galveston, Texas, recently announced that James E. Pozzi, formerly senior executive vice president ... Seeking to Combat Insurance Fraud, Louisiana Joins Federal Network Louisiana has agreed to share information with a federal network designed to cut down on insurance fraud. The Advocate reported that the ... More South Central News West Nevada Issues First Autonomous Vehicle Test License to Google The Nevada Department of Motor Vehicles has approved an application for a license by Google Inc. to test autonomous vehicles on Nevada ... Denver Lawyer Loses Liability Over Medical MJ Practice A Denver lawyer has lost her liability insurance because part of her practice involves representing medical-marijuana businesses. The ... Billings Settles Lawsuit Over Chase, Fatal Crash The family of a Billings, Mont. nurse who was killed by a drunken driver while he was fleeing police has settled its wrongful death ... State, Feds Impose Fire Bans in Southern Arizona State and federal land managers have imposed bans on open fires and other activities across much of southeastern Arizona because of high ... Federal Help Sought To Avert Flooding At NM Pueblo Members of New Mexico's congressional delegation are asking the federal government for help to prevent possible flooding at Santa Clara ... More West News International Investor Protest Votes on Executive Pay Here to Stay Company directors will remain under pressure from shareholders over executive pay long after the market downturn ends and lawmakers stop ... Moss Quits as Aviva CEO; McFarlane Takes over as Interim Boss Andrew Moss has announced his resignation, with immediate effect, as CEO of Aviva, the UK's largest insurance group. The move comes five ... Munich Re Q1 Profit Tops $1 Billion; Gross Premiums over $17 Billion Munich Re bounced back from the disaster plagued first quarter of 2011, posting a profit of €782 million [$1.019 billion] in the first ... Gonzalez to Head New A.M. Best Miami Office for Latin American Business A.M. Best Co. announced that it has opened an office in Miami, Florida "to serve the growing market for insurance ratings in the Latin ... Earnings Report: Argo Group Selected earnings highlights from the Bermuda-based Argo Group for the first quarter of 2012 are as follows:      ... More International News Insurance Journal Blogs Advertising in the Age of Distraction Maybe you're like me. I love my cell phone. I get hundreds of emails every day; many I open on my phone. My music is in there. Pictures ... 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: Tue May 8 -- I'm located in FL as well and have gone through the torture of starting an independent agency from scratch. LOL. Feel free to PM me with any... mangroveman Android Applications/Insurance Related Posted: Tue May 8 -- My company is in the development stages of iPhone/android apps geared towards producers. Any suggestions on what ya'll would like to see in... mangroveman Are Insurance Agents Employees or Independent Contractors? Posted: Tue May 8 -- I'm no CPA, but my thought would be that this should vary based on state employment regulation. mangroveman Licensed vs non licensed CSR ( CA) Posted: Tue May 8 -- This is illegal in my state. (Florida) mangroveman Farmers vs. Independent Posted: Tue May 8 -- If you'd like to know whats involved with starting a scratch independent agency check out this link...... mangroveman HOA Products completed ops Posted: Mon May 7 -- I recently receied a quote from a carrier for an HOA here in CA. They are about 18 k a year less than State Farm. The only thing is that... JAM Residential Apartment Building with Fuses - CA Posted: Mon May 7 -- You know, by the time you get done finding that one or two surplus lines carriers that will maybe take the building with fuses and paying... d's insurance store Go to Forums Reader Comments What to Expect If Supreme Court Strikes Down Obamacare Posted: Thu May 3 -- Hey, I agree with you on Clinton. He's a cheating SOB. Nice role model for the Presidency, huh? The only good thing he did is leave office... Sarah-ahahaha Transportation Chief Calls for National Ban on Cell Phone Use While Driving Posted: Wed May 2 -- You know where it's safe to be on your phone (or even laptop) and in transit? Busses, subways, rail systems, and the backseat of a carpool.... Cat Dead Mexican Teen's Family To Pursue Suit in Texas Posted: Wed May 2 -- I'm sorry this kid got killed but throwing rocks at a cop was an invitation for violence and trouble. Rather than making his parents... Water Bug Detroit Schools to Pay $425K To Student's Family Posted: Thu May 3 -- "the matter has been resolved." Is that what the DA says, too? This is criminally negligent homicide, and should be treated as such. Ins Guy Christian Group Sues Michigan City, Muslims Over Event Posted: Fri May 4 -- A bit off topic, but I find it absolutely ludicris that muslims would presume to control non-muslims by threat of death for simply drawing a... Kurt Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue May 7, 2012 AAMGA Issue; Salute to Super Regionals; Premium Finance 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 Senior Underwriting Assistant Workers Compensation Personal Lines Account Manager / Customer Service Rep Commercial Account Manager / Customer Service Rep Workers Compensation 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. 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: Multi-State Regulation Drives Up Commercial Premiums

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May 8, 2012 Breaking News Alert Multi-State Regulation Drives Up Commercial Insurance Premiums, Says Iowa Researcher Read the full story Buyers of commercial liability insurance pay as much as 31 percent more because insurance companies have to comply with regulations from multiple states instead of just a single regulator, according to new research by a University of Iowa insurance expert. 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: Employment Trends in Health Care Complicate Liability Issues

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May 8, 2012 Feature Video Employment Trends in Health Care Complicate Liability Issues Hospitals and other medical care entities are increasingly hiring - rather than contracting with - physicians, and healthcare professionals such as physicians' assistants and... Watch Now Popular Videos Vehicle Arson Trends New BevCap Program Targets Beer Distributors 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.