Daily Headlines: Wednesday, January 9, 2013

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January 9, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG Says It Has Obligation to Consider Bailout Lawsuit; Critics Pounce American International Group Inc., the insurer rescued by the U.S. government in 2008, said on Tuesday it is considering joining a lawsuit ... AIG Board Meets on Possible Bailout Lawsuit vs. Government The board of American International Group Inc. met on Wednesday to consider a lawsuit against the U.S. government over the terms of the ... U.S. Insurers Should Be Stable in 2013, Says S&P U.S. insurance sectors are generally poised for stable credit trends in 2013, resulting from strong balance sheets, a stable business ... Supreme Court Weighs Government's Statute of Limitation in Civil Penalty Cases The U.S. Supreme Court on Tuesday appeared poised to curtail the power of the top federal securities regulator to seek civil penalties ... Integro to Provide CargoNet Membership to Transportation Clients Verisk Crime Analytics has formed a strategic alliance between its CargoNet division and insurance brokerage and risk management firm ... A Look at New Insurance Laws Taking Effect in 2013 With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights... More National News East Virginia Approves Changes to Workers' Comp Premium Levels Virginia's State Corporation Commission (SCC) announced on Jan. 8 that the commission has approved revisions to the premium levels charged ... Penn. Regulators Say 2012 Was Record Year for Fines and Restitution The Pennsylvania Insurance Department announced on Tuesday that the state's regulators collected a record of nearly $18 million in fines ... Zurich in North America Names Chief Risk Engineering Officer in N.Y. Zurich in North America (ZNA) has appointed Thomas Fioretti as chief risk engineering officer. He will be based in New York. In this role, ... Marsh & McLennan Executive Moves to Integro in New York Insurance brokerage and risk management firm Integro appointed Nick Trent as a principal in its property practice. He will be based in the ... More East News Midwest Illegal Immigrant Driver License Bill Advances in Illinois A proposal to issue driver's licenses to illegal immigrants has received committee approval in the Illinois House, despite concerns by both ... Digital Insurance Acquires Missouri-based Health Star Consulting Digital Insurance announced the acquisition of Health Star Consulting of Clayton, Mo. The benefits firm merged with the St. Louis office of ... CNA's Motamed to Chair 2nd Annual IICF - Midwest Benefit Dinner Thomas F. Motamed, chairman and chief executive officer of CNA Financial Corp., will act as chairman of the Insurance Industry Charitable ... Lockton Adds Loss Control Expert in St. Louis Insurance broker Lockton has expanded its loss control team with the addition of Kevin Hoffman as senior loss control consultant in its St. ... ISU Network Adds RHD Insurance in Midwest San Francisco-based ISU Network has added ISU RHD Insurance, an independent insurance agency in Lincoln, Neb. Michael J. Hall and his ... More Midwest News Southeast Kentucky Self-Insured Contractors Fund to Pay $16.5M Dividend The Kentucky Associated General Contractors Self Insurers' Fund said it will return $16.5 million in dividends to its members in March. ... Former North Carolina Insurance Commissioner Ingram Dies John Ingram, former North Carolina insurance commissioner who made runs for governor and the U.S. Senate, has died. He was 83. Charles ... Tennessee's BOA Insurance Joins Keystone Insurers Group Burchfiel Overbay & Associates Insurance Agency of Sevierville, Tenn., operating as BOA Insurance Agency, is now a partner to insurance ... More Southeast News South Central HUB International Acquires Louisiana-Based Brokerage Benefit Concepts Insurance broker Hub International Limited (Hub) has acquired the assets of Benefit Concepts Inc. (BCI), a Shreveport, La.-based employee ... Howey Named President of Southwest Risk LP Robert S. Howey has joined Southwest Risk LP to serve as the Dallas-based wholesale broker's president, the company announced. Howey's ... HIIG Energy, CAA Partner on Engineered Risk Energy Program Combined Agents of America LLC (CAA) and HIIG Energy, a member of Houston International Insurance Group (HIIG), have teamed up to develop ... Study: Uninsured Driver Problem Costs Oklahoma $8.8M a Year A new evaluation by the Oklahoma Insurance Department (OID) found that the state of Oklahoma is losing $8.8 million a year in premium taxes ... More South Central News West GEICO To Hire 300 New Associates In Arizona The private passenger auto insurer GEICO is kicking off 2013 with plans to hire 300 new associates at the company's regional office in ... 2 Survivors Of Oregon Bus Crash File Lawsuit Two survivors of an Eastern Oregon tour bus crash that killed nine passengers allege in a lawsuit that the driver was tired, didn't heed ... California Lawsuit Says Jailers Ignored Inmate Vomiting Blood The family of a California man who bled to death in the Sacramento County jail has filed a wrongful death lawsuit claiming jailers didn't ... Settlement Reached In Colorado Patrol Shooting The Colorado State Patrol has agreed to pay more than $1 million to the family of a man who was shot and killed when he refused to allow ... Scottsdale Taps Franke as VP of Contract Underwriting In West Scottsdale Insurance Co. named Steve Franke as vice president of contract underwriting for the Western region. Franke will oversee the ... More West News International Dubai Launches Drive to Develop Islamic Insurance, Banking Sectors Dubai is launching a drive to develop its Islamic business sector, aiming to attract fresh investment from the Middle East and south-east ... China's Insurance Regulator Expected to Reject $9.4 Billion HSBC Deal China's insurance regulator is expected to reject HSBC's sale of its $9.4 billion stake in Ping An Insurance to Thai conglomerate CP Group, ... Aon Benfield December Cat Report: Philippines Typhoon, Extreme Weather In its latest Global Catastrophe Recap report Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, ... Tasmanian Bushfires Burn More than 148,000 Acres: AIR Analysis According to the Tasmania Fire Service, as of 9:30 a.m. (2:30 p.m. UTC) January 7, 2013, thirty-five bushfires are currently active across ... More International News Sponsored Content Atlantic Specialty Lines Announces New Office in South Florida Miramar, FL, 01/08/13 - Atlantic Specialty Lines announces the opening of their newest office located in South ... More Sponsored Content Insurance Journal Blogs Burand's Agency E&O Blog: Tip #18 Know Your Binders. Improperly written binders are one of the most significant exposures agencies have to being sued by their own carriers ... More Blogs Join the Insurance Journal Network Insurance Journal TV Van Eeten Takes the Reins at Texas Surplus Lines Association Kathy Van Eeten, senior vice president, regional marketing for CRC | Crump, was installed... Watch Now 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... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums What is your biggest pain as an agent? Posted: Wed Jan 9 -- I'm curious to know what the biggest pains for an agent in their day to day work...... Jacobiv Manufactured Home (in park) Insurance in Florida Posted: Tue Jan 8 -- Hello agentagent, I am a Product Mgr working for a Surplus Lines carrier. We are currently writing coastal Manufactured Housing insurance in... insprodmgr Florida Mobile Home Insurance - Coastal Surplus Lines Posted: Tue Jan 8 -- Hello, I am a Product Manager for a Surplus Lines Insurance Company licensed in Florida. We are A- Rated A.M. Best and writing Coastal... insprodmgr Deposit into the trust account or operating account? Posted: Fri Jan 4 -- I would add that Option A, deposit to the Trust Account is correct; and in a perfect world, commission would not be moved to the operating... TheFieldman brightway insurance brokerage in florida Posted: Fri Jan 4 -- Personally, I think it is just a matter of choice and what your longterm goal is. I've always thought of the American Agency System as a... TheFieldman Can You Deduct Long Term Care Insurance Premiums? Posted: Fri Jan 4 -- The LTC insurance premiums of tax qualified policies are regarded as medical expenses based on IRS guidelines. Tax deductions can be done of... robmejia WC account Losses 189 X-mod hard class codes Posted: Wed Jan 2 -- All of the information posted on this subject has been good advice, But what I have found over many years handling some difficult company's... JTR Go to Forums Reader Comments Oklahoma Mom Sues Over Twitter Picture of Unclothed Daughter Posted: Mon Jan 7 -- This is bullying, no question. As for the school adminstrators who want this lawsuit dropped because "it make the school look bad" - wake up... jet Slip-And-Fall Cases Tough to Make in Michigan Courts Posted: Wed Jan 2 -- Every once in a while we manage to do the right thing. sham Flood Insurance Funds Will Run Out Jan. 7 Without Congress OK: FEMA Posted: Thu Jan 3 -- Now, do you really want ObamaCare....? You need surgery and are waiting on the US House and Senate (Congress) to get a budget passed! They... Brass Balls How 'Fiscal Cliff' Package Deals with Business Taxes Posted: Mon Jan 7 -- Yes Libby, all my employees checks are a little lighter now that the Social Security has gone up and taken from their income. I seem to... Agent Attorney Behind $43M Award for Ohio Agent Against Nationwide Insurance to File Class Action Posted: Mon Jan 7 -- If I had an associate agent/producer in my agency that produced a $2million book, they would have exalted status. This sounds like a... Agent Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue December 17, 2012 New Players (New insurers, brokers and vendors that are less than 2 years old.); Buyers Guide 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 Vice President of Government Affairs Sales Enhancement Team - Team Member Professional Liability Claims Examiner Regional Sales Trainer 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, January 8, 2013

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January 8, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG May Join Suit Against Federal Government Over 'Unfair' Bailout Terms American International Group Inc., the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, ... New York AG Can't Stop $115M AIG Settlement with Ex-CEO Greenberg, Others New York Attorney General Eric Schneiderman cannot stop a $115 million settlement between American International Group Inc. shareholders ... MetLife Granted Third Fed Extension to Submit Capital Plan The Federal Reserve has granted MetLife Inc a third extension to submit its capital plan as the insurer moves closer to completing the sale ... Monster Insurance Acquires Renewal Rights for OneBeacon Energy Book MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, announced that MarketScout subsidiary, ... Marsh Launches Risk Transfer Product for Wage, Hour Claims With the number of wage and hour claims against employers on the rise, Marsh has launched a new insurance product that reimburses companies ... Supreme Court Considers Travelers Insurance Case on Limiting Class Actions The U.S. Supreme Court on Monday weighed whether to impose new limits on class-action lawsuits, as it reviewed whether a homeowner's ... A Look at New Insurance Laws Taking Effect in 2013 With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights... More National News East After the Storm: Insurance Agents E&O Lessons Learned More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find ... Northeastern Fishing Industry Hoping for Help With Sandy Storm Losses While Superstorm Sandy did highly visible damage to homes, boardwalks and roads, it also walloped the Northeastern fishing industry, whose ... N.Y.-Based Russell Bond Names Senior Broker Buffalo, N.Y.-based insurance wholesaler Russell Bond & Co. Inc. recently appointed Les Dalmata as senior broker operating from the Utica, ... Penn. Man Faces Jail Term for Setting House Fire for Insurance A western Pennsylvania man faces up to 16 years in prison when he's sentenced in April for setting his house on fire for the insurance ... More East News Midwest Missouri Regulator: Barton County Mutual Back on Solid Ground Financial conditions at Missouri's Barton County Mutual Insurance Co. are strong enough that the company can be released from state ... Marsh & McLennan Agency Acquires Michigan's McGraw Wentworth Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh Inc., has acquired McGraw Wentworth Inc., an employee group benefits consulting ... Arthur J. Gallagher Acquires Insurance Risk Managers of Missouri Arthur J. Gallagher & Co. has acquired Insurance Risk Managers of Missouri Inc. in St. Louis. Terms of the transaction were not disclosed. ... Monitor Liability Managers Promotes Lyngaas to Vice President Monitor Liability Managers LLC, based in Rolling Meadows, Ill., has promoted Lynette Lyngaas to the position of vice president of ... More Midwest News Southeast Florida Hospital Group to Offer Health Insurance to Patients The Florida Hospital group has announced it will begin offering patients health insurance starting in January 2014. The Daytona-based ... Mississippi's Palazzo Sought Katrina Aid, Voted Against Sandy Insurance Funds U.S. Rep. Steven Palazzo says he voted against funding to pay the Hurricane Sandy flood insurance claims because of the deficit, but as the ... Skelton-Morris Joins Keystone Insurers in Georgia Skelton-Morris Associates, a Hartwell, Ga.-based insurance agency, is the eleventh Keystone Insurers Group partner in Georgia. ... More Southeast News South Central HIIG Reorganizes Domestic Underwriting Operations Houston International Insurance Group (HIIG) has reorganized ts domestic underwriting operations, which going forward will be re-branded ... Willis North America Appoints Gilliam as Senior VP in Houston Office Insurance broker Willis North America has appointed Bill Gilliam as senior vice president, construction practice, in its Willis of Texas ... Louisiana Pie Maker Sues Fire Suppression Company, Insurers New Orleans pie maker, Simon Hubig Co. Inc., whose Louisiana plant was destroyed in a blaze six months ago, has sued the Kenner company ... Oklahoma Insurance Commissioner No. 2 User of State-Owned Plane Oklahoma Insurance Commissioner John Doak has crisscrossed the state in state-owned aircraft on his mission to educate the public and reach ... More South Central News West Bolton & Co. Acquires Preferred Specialty in Southern California Pasadena, Calif.-based Bolton & Co. acquired Preferred Specialty Insurance Services, an independent insurance agency providing insurance ... Barney & Barney Names Four New Principals in California San Diego, Calif.-based Barney & Barney LLC named four senior executives as principals of the firm in California. The new owners are: ... Utah License Plate Scanners Spark Legislative Debate License plate scanners in widespread use by law enforcement agencies hold the potential for misuse by divorce lawyers or police who use ... Tanker Hits Bay Bridge in Northern California A tanker struck the San Francisco-Oakland Bay Bridge on Monday, the Sacramento Bee newspaper is reporting. There were no immediate reports ... EPIC Names Parreira Principal in Central California Edgewood Partners Insurance Center named Terri Parreira as a property and casualty insurance producer and principal in its Fresno, Calif. ... G2 Insurance Taps Buchanan and Heyneker in Northern California David Buchanan and Toni Heyneker have joined G2 Insurance Services in Northern California. Heyneker joined as director of operations. ... More West News International Global Risk Experts Lack Confidence in Governments on Economies, Climate Fragile economies and extreme weather have combined to crank up the global risk dial in the past year, creating an increasingly dangerous ... Shipping Losses Up in 2012 But Down Over 10-Years: AGCS Report There have been 106 ship losses reported worldwide in the 12 months since last to November 25 - an increase of 91 ships from the previous ... ACE Group Names Andrade to Expanded Role for Overseas Business The ACE Group has named Juan Andrade, division president, Global Personal Lines and Small Commercial Insurance, to the additional post of ... Argo Group Establishes New Sidecar, Harambee Re Argo Group International Holdings, Ltd. has established Harambee Re 2013-1 Ltd for the 2013 accident year. This is the first sidecar ... More International News Join the Insurance Journal Network Insurance Journal TV Contractual, Regulatory Requirements Effects on Cyber Marketplace Federal and state privacy laws and contractual requirements are driving interest and demand of... Watch Now Privacy & Security Coverage and Trends Richard Betterley, president of Betterley Risk Consultants, says cyber liability policies have... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Agency In NC or SC Posted: Mon Jan 7 -- To Whom it May Concern: We are very interested in speaking with you about your possible move to NC My agency is headquartered in... DBCANADY Deposit into the trust account or operating account? Posted: Fri Jan 4 -- I would add that Option A, deposit to the Trust Account is correct; and in a perfect world, commission would not be moved to the operating... TheFieldman brightway insurance brokerage in florida Posted: Fri Jan 4 -- Personally, I think it is just a matter of choice and what your longterm goal is. I've always thought of the American Agency System as a... TheFieldman WC account Losses 189 X-mod hard class codes Posted: Wed Jan 2 -- All of the information posted on this subject has been good advice, But what I have found over many years handling some difficult company's... JTR National Agents Alliance? Legit or Keep Away? Posted: Sun Dec 30 -- After reading a number of these posts does any decently smart insurance person think that this is the answer to more income? OMG...it... surestart12345 CA Roofing Contractor WC Posted: Sat Dec 29 -- The only WorkComp market in CA for roofers is the State Fund. ets80 Go to Forums Reader Comments Oklahoma Mom Sues Over Twitter Picture of Unclothed Daughter Posted: Mon Jan 7 -- This is bullying, no question. As for the school adminstrators who want this lawsuit dropped because "it make the school look bad" - wake up... jet Slip-And-Fall Cases Tough to Make in Michigan Courts Posted: Wed Jan 2 -- Every once in a while we manage to do the right thing. sham Flood Insurance Funds Will Run Out Jan. 7 Without Congress OK: FEMA Posted: Thu Jan 3 -- Now, do you really want ObamaCare....? You need surgery and are waiting on the US House and Senate (Congress) to get a budget passed! They... Brass Balls How 'Fiscal Cliff' Package Deals with Business Taxes Posted: Mon Jan 7 -- Yes Libby, all my employees checks are a little lighter now that the Social Security has gone up and taken from their income. I seem to... Agent New Mexico Proposal: Breathalyzers In Drunk Drivers' Homes Posted: Fri Jan 4 -- I agree with putting the breath lock on the ignition in order for the car to start. But putting it in the house is a waste of money...unless... Cheetoh Mulligan Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue December 17, 2012 New Players (New insurers, brokers and vendors that are less than 2 years old.); Buyers Guide 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 Sales Enhancement Team - Team Member Professional Liability Claims Examiner Regional Sales Trainer P&C Commercial Underwriter 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 © 2013 by Wells Media Group, Inc.

Breaking News: AIG May Join Suit Against Federal Government Over 'Unfair' Bailout Terms

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January 8, 2013 Breaking News Alert AIG May Join Suit Against Federal Government Over 'Unfair' Bailout Terms Read the full story American International Group Inc., the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, may join a lawsuit against the government alleging the terms of the deal were unfair. The company confirmed a New York Times report that said AIG's board would meet Wednesday to discuss joining a lawsuit filed against the government by Hank Greenberg, the insurer's former chief executive. 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 © 2013 by Wells Media Group, Inc.

Insurance Journal TV: Van Eeten Takes the Reins at Texas Surplus Lines Association

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January 8, 2013 Feature Video Van Eeten Takes the Reins at Texas Surplus Lines Association Kathy Van Eeten, senior vice president, regional marketing for CRC | Crump, was installed as president of the Texas Surplus Lines Association in November. Here, she speaks about... Watch Now Popular Videos Markets in Motion: Insuring Wineries Sinkhole Investigation and Damage Evaluation 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 © 2013 by Wells Media Group, Inc.

Breaking News: House, Senate OK $9.7B More for Flood Insurance Claims

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January 4, 2013 Breaking News Alert House, Senate OK $9.7B More for Flood Insurance Claims Read the full story The House of Representatives voted today 354-67 to increase the borrowing authority of the National Flood Insurance Program (NFIP) by $9.7 billion. The Senate, which already approved a similar increase but as part of a larger $60 billion Superstorm Sandy disaster relief measure, quickly approve the $9.7 billion for the NFIP by unanimous consent. 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 © 2013 by Wells Media Group, Inc.