Daily Headlines: Tuesday, June 4, 2013

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June 4, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Council Proposes AIG, Prudential, GE Capital as Systemically Important, Due Extra Scrutiny U.S. regulators on Monday proposed designating American International Group Inc., Prudential Financial Inc. and GE Capital for heightened ... Coastal Homeowners Upset with Insurers, Regulators Over Surge in Insurance Costs When Stan Virden moved into his 2,400-square-foot house overlooking a rock-lined canal in 1996, he paid less than $1,000 a year for ... Women (Not Men) Get Asked: Can You Have It All? Can you have it "all"? It's one of the questions that women in business get asked a lot but men are never asked. It's also one of the ... President Obama Issues Executive Orders to Curb 'Patent Trolling' President Barack Obama took steps on Tuesday intended to limit frivolous patent lawsuits, a practice referred to as "patent trolling." ... Mortgage Insurer Triad Guaranty Files for Bankruptcy Protection Triad Guaranty Inc., a residential mortgage insurer, sought bankruptcy court protection from creditors, citing losses related to the U.S. ... Top Insurance CSRs by State for 2013 The National Alliance for Insurance Education & Research has announced the winners of this year's National Outstanding Customer Service ... Motorists Mutual Launches Safeguard Product for Self-Storage Facility Owners Motorists Mutual Insurance has introduced a product specifically to provide a safeguard for owners of self-storage facilities. The new ... Travelers Launches OnDemand Risk Control Service for Commercial Clients The Travelers Insurance Cos. has launched an interactive, on demand service for property and casualty insureds looking to manage and... MPLI Lagging Commercial Lines Underwriting Cycle Medical professional liability insurance (MPLI) is a smaller specialty property/casualty insurance underwriting segment... More National News East Insurer Fairfax Appeals SAC's Dismissal From New Jersey Suit Insurer Fairfax Financial Holdings Ltd. asked a New Jersey appeals court to reinstate its lawsuit against Steven A. Cohen's SAC Capital ... Union Mutual of Vermont Companies Appoints Claims Manager Union Mutual of Vermont Companies promoted Peter Heitmann to the position of claims manager. Heitmann joined Union Mutual in 1983 as a ... N.H.-Based Northern United Agents Alliance Announces New Agency Member The Northern United Agents Alliance (NUAA) announced the addition of Kinney Insurance Agency, based in South Hero, Vt., as the newest ... Protesters Urge R.I. to Default on 38 Studios Debt Protesters unhappy with Rhode Island's failed investment in former Red Sox pitcher Curt Schilling's video game company urged ... More East News Midwest NTSB: Missouri Derailment Investigation Could Take a Year The investigation into the cause of a southeast Missouri cargo train crash that injured seven people and destroyed a highway overpass could ... St. Louis' Lambert Airport Dealing with Storm Damage Again For the second time in two years, Lambert Airport in St. Louis is cleaning up after a storm caused significant damage to Missouri's largest ... Midwest, Plains Economy Still Growing Steadily: Survey A monthly survey of business leaders suggests the economy in nine Midwest and Plains states will continue growing steadily over the next ... More Midwest News Southeast As Hurricane Season Opens, Florida's Citizens Touts Depopulation Deals Officials at Florida's property insurer of last resort say that it is entering the 2013 hurricane season in improved financial condition ... Fired Florida Trooper Says Speeding Lawmakers Get Break A fired state trooper, as well as some current and former troopers, testified last week that the Florida Highway Patrol had an informal ... Fomer Lawmaker Nunn Apologizes to Family for Killing A former Kentucky lawmaker serving life in prison apologized publicly for the first time Friday to the family of his former fiance, whom he ... Florida Gov. Scott Signs Bill Limiting State Review of Health Insurance Rates Florida Gov. Rick Scott has signed a bill that removes the ability of state regulators to challenge health insurance rates for a two-year ... More Southeast News South Central Allstate Appoints Sedillo as Chief Executive of Texas Operations The Allstate Insurance Company has named Larry Sedillo field senior vice president for the company's Texas region, where he will lead ... Southport Lane Acquires Louisiana's Imperial Fire & Casualty Southport Lane, a New York City-based private equity firm, has completed its acquisition of Louisiana-based Imperial Management Corp., ... 4 Firefighters Killed in Houston Fire Mourned One Houston firefighter remains hospitalized in critical condition after a massive motel and restaurant fire killed four of his fellow ... More South Central News West Hub International Acquires Assets of Beartooth in Montana Chicago, Ill.-based Hub International Ltd. subsidiary Hub International Mountain States has acquired the assets of Beartooth Insurance Inc. ... Rain Delays Wildfire Season in Parts Of West Rain and cooler temperatures mean the wildfire season in Oregon, Idaho, Washington and Montana will start later than initially predicted, ... Montana Judge Invalidates Fire-Resistant Roof Ordinance A Montana judge has invalidated Helena's 2008 fire ordinance restricting exposed wood building materials and requiring fire-resistant roofs ... Costco Recalls Frozen Berries Linked To Hepatitis Outbreak The Food and Drug Administration is investigating an outbreak of hepatitis A linked to a frozen organic berry mix sold by an Oregon ... More West News International Floods in Central Europe Near Peak; Prague Among Hardest Hit Cities Floodwaters that inundated Prague and swamped large areas of central Europe may peak today as emergency crews work to open river traffic, ... Bermuda Minister Rejects Tax Haven Label; Sees Insurance Growth Bermuda is not to blame for companies such as Google using Bermudan subsidiaries to shelter billions of dollars from U.S. and European tax ... Central Europe Hit by Rains, Floods and Landslides: AIR Analysis Catastrophe modeling firm AIR Worldwide has released a report on the current heavy rains and floods that have inundated large parts of ... FERMA Warns Restrictions Could Damage Subscription Market The Federation of European Risk Management Associations (FERMA) has issued a warning to the European Commission that any restriction in the ... XL Launches Unit Dedicated to Reinsurance in Emerging Global Markets XL Group announced that it is expanding its reinsurance operations with the creation of a "dedicated Reinsurance Global Emerging Markets ... Hub International Hires Chan in Toronto, Acquires Book of Business Hub International Limited (Hub) subsidiary Hub International HKMB Limited (Hub HKMB) has acquired a book of commercial and personal lines ... Private Equity Firm B.P. Marsh Selling Stake in Hyperion Insurance B.P. Marsh & Partners Plc, the U.K. private-equity firm with investments ranging from risk assessment to financial advising, rose for a ... More International News Sponsored Content NetRate Systems Introduces NetPPS Policy Product System for ISO® Policy Forms Production Okemos, MI, 6/4/13 -  NetRate Systems, Inc., a leading supplier of ISO® Commercial Lines Rating software for the MGA and carrier ... More Sponsored Content Insurance Journal Blogs Essential Advertising & Publishing Terms, Explained in Everyday English "Images must be 300ppi. Please provide your logo as a vector. Max file size is 40 KB." Advertising and publishing lingo can be confusing, ... More Blogs Join the Insurance Journal Network Insurance Journal TV The Good and the Bad: Healthcare Reform and Medical Liability The Patient's Protection and Affordable Care Act (ACA) has very little to do with the medical... Watch Now Changes in Underwriting Medical Professional Liability The United States is undergoing a massive transition -- and that's healthcare reform, says... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums 24 Hour CA Restaurant Posted: Mon Jun 3 -- How would we make that work? Possible split commission? Send me you contact info and we can talk about the possibility. Thank you. mce23 Standard Non-Compete Posted: Mon Jun 3 -- Most non-compete agreements in California don't hold water. You might want to check with legal council first on both the validity and... Big Dog QuickBooks Posted: Mon Jun 3 -- I've been thinking about using quick books for my agency. Can anyone comment on how well it works for managing payroll (1099 and W-2). shiftins Workers Comp TX Oilfield Service Contractor Posted: Sat Jun 1 -- try mike davis at Accident Insurance Services, Inc... johnbclinton 1st Year as a Producer Stories Posted: Wed May 29 -- Rainmaker, thank you for the advice. I am 9 months in so far and excited to hit year 2 soon. For me, the hardest part of being a new... californiadude Insurance agencies for sale ? Posted: Mon May 27 -- Yikes - call Marsh Berry or Dowling Hales. Rainmaker Non compete lawsuit Posted: Mon May 27 -- I've moved three books as a producer from a small agency, to a regional, to a global. I've also run practice groups and was a Regional CEO... Rainmaker CPCU - Advice Posted: Mon May 27 -- Perfect...bears repeating: "In the interest of full disclosure, I work for the Institutes (American Institute for... Rainmaker Go to Forums Reader Comments Judge Allows Mississippi Liability Suit Over Underage Drinker to Proceed Posted: Tue May 28 -- There's no possibility he had a fake ID? Can they prove whether he was served at the bar or became intoxicated at the Condo? Did anyone... Whodathunkit? Mixed Reaction in Georgia to Push to Lower DUI Limit Posted: Thu May 30 -- ""We are not prohibitionist. We are not interested in eliminating drinking," Martin said." Like heck they aren't. If I recall, even... ExciteBiker Paterno Family Sues NCAA Over Penn State's Sandusky Fine Posted: Fri May 31 -- "Paterno's name and reputation have been damaged by the allegations." There is no way Joe PA had no knowledge whatsoever of how Sandusky... PSU Grad Mississippi Man Run Over by Lawnmower Sues Manufacturer Posted: Wed May 29 -- something is missing here...if he bought it two months before the accident switch must have been altered. I'm betting any manufacturer of... UW Mississippi Homeowners Renew Lawsuit Against Exxon Over Alligators Posted: Fri May 31 -- No comment. I ain't seen the paperwork as yet. As for 84+ of us on one piece of property, heck, 35 acres is a lot of wiggle room. Give us a... Al E. Gator Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue June 3, 2013 Program Directory, Volume I 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 Insurance Salesperson Senior Underwriter - Commercial E&S Account Executive Business Development 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.

Insurance Journal TV: Agency Pay Is It Time for a Change

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June 4, 2013 Feature Video Agency Pay - Is It Time for a Change? Jason Cass, chair of the Independent Agents & Brokers of America's Young Agents Committee, and owner of the JDC Insurance Group based in Centralia, Ill., and Brian Appleton, an... Watch Now Popular Videos The Future of Medical Liability DIMA's CEO Examines Ireland's Links to Re/Insurance and Europe 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.

Daily Headlines: Monday, June 3, 2013

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June 3, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National East, Gulf Coast Insured Properties Top $10 Trillion: AIR The estimated insured value of residential and commercial properties in just the coastal counties of the U.S. East and Gulf Coast states ... Property Crime Down, Violent Crime Up in 2012: FBI The nation experienced a 1.2 percent increase in the number of violent crimes and a 0.8 percent decline in the number of property crimes in ... Recent Wrecks Belie Railroads' Safety Record It's easy to think the railroads are unsafe when there are pictures of burning, derailed cars on the nightly news. But the nation's ... Saying 'I Do' to Wedding Insurance Last year, Natalia Esparra, then 34 and a new bride, learned that something had gone wrong with her photographer's memory card and that all ... Best Affirms Mitsui Sumitomo's U.S. Subs Ratings; Upgrades Aioi Nissay U.S. In conjunction with its affirmation of the parent company, A.M. Best Co. has also affirmed the financial strength rating (FSR) of 'A+' ... Best Affirms MAPFRE USA and Group Members Ratings; Outlook Negative A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit rating (ICR) of "a" of the members of ... Ratings Recap: Iron Horse, Dallas National, Armed Forces, Sooner, Hartford Mutual, Philadelphia Contributionship A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a+" of Vermont-based Iron Horse ... Canada's Fairfax to Buy American Safety in $306 Million Cash Deal Fairfax Financial Holdings Ltd., a Canadian insurer, agreed to buy American Safety Insurance Holdings Ltd. for $306 million in an all-cash ... Travelers Adds Special Expense Coverage to Public Entity Policies Travelers has enhanced its public entity management liability (PEML) policy that provides limited special expenses coverage reimbursement ... How Women Can Rise to Executive Level in P/C Insurance Industry Networking is the single biggest thing women can do to facilitate their rise up the corporate ladder in the property/casualty insurance ... Eqecat Agrees to Share Exposure Data Schemas With RMS Catastrophe modeling firm Eqecat announced that it has finalized an agreement to share exposure data schemas with another major ... Travelers Launches OnDemand Risk Control Service for Commercial Clients The Travelers Insurance Cos. has launched an interactive, on demand service for property and casualty insureds looking to manage and... Nonorganic Growth Strategies: Building Niches With Lift-Outs & Bolt-Ons You are the president or CEO of almost any size property-casualty company. You have just met with your board... More National News East N.Y. Reaches Reform Agreements With 4 Additional 'Force-Placed' Insurers New York officials announced that the state's "force-placed" insurance reforms will now cover 100 percent of the New York market after the ... Connecticut's Anti-Distracted Driving Bills Progress Two bills aimed at combating distracted driving are progressing through the Connecticut General Assembly. The House of Representatives last ... Pentecostal Bishop in Philadelphia Charged With Insurance Fraud A Philadelphia bishop has been charged with insurance fraud related to water damage that his Pentecostal church sustained. State ... Philadelphia Insurance Hires 2 Underwriting Vice Presidents Philadelphia Insurance Companies announced the hiring of Ziad Kubursi as senior vice president of specialty lines and Karen Votta as vice ... No Guns for Some Pennsylvania Police, Radar Guns That Is Jeff Streeter, chief of the Lone Tree Police Department in Colorado, was surprised to learn of a longtime tradition followed by local ... More East News Midwest Weather Service Confirms St. Louis-Area Tornadoes Portions of suburban St. Louis waged a soggy cleanup effort on June 1 after severe storms unleashed an outbreak of tornadoes across the ... Tuit Joins Michigan-Based Acrisure as CFO Caledonia, Mich.-based retail insurance brokerage, Acrisure LLC, announced that Dave Tuit has joined the firm as chief financial officer. ... Lincoln, Nebraska Flood-Control Project Gets a Workout Lincoln, Neb.'s Antelope Valley flood-control project got a workout with recent heavy rains, but diverted water as it was designed to do, ... Vanliner Insurance Launches New Captive for Moving, Storage Companies Vanliner Insurance Co., based in Fenton, Mo., has introduced Move-CAP, an alternative risk transfer (ART) insurance program developed ... More Midwest News Southeast Hurricane Season and Florida's Insurance System: Living on Borrowed Time? Mother Nature has been kind to Florida's coastline lately with a record run of seven years without a hurricane making landfall, allowing ... Florida Alleged Insurance Fraud Leader Found Competent for Trial The alleged leader of an $800 million South Florida insurance fraud scheme has been found competent to stand trial despite severe pain from ... Environmental Groups Sue Landowners Over Mountaintop Mining in West Virginia Environmental activists say three reclaimed mountaintop removal mining sites are still polluting West Virginia waterways, and they're suing ... More Southeast News South Central Texas Governor: Storm Insurance Special Session Possibility Gov. Rick Perry has said he may add reshaping the troubled Texas Windstorm Insurance Association to a special legislative session he's ... Amarillo Hailstorm Damage Estimated at $400M A massive hailstorm that blanketed the Texas panhandle city of Amarillo on May 28 is proving costly. An estimated 35,000 vehicles and ... Oklahoma Tornadoes Take 13 Lives Including 3 Storm Chasers Three storm chasers were among 13 people killed by tornadoes that rampaged through central Oklahoma on Friday, underscoring the high risk ... 22K Insurance Claims Filed After May 19, 20 Oklahoma Tornadoes The Oklahoma Insurance Department says more than 22,000 claims have been filed for property and vehicles damaged by tornadoes that struck ... More South Central News West Insurers Sue Over Southern California School Abuse Settlement Seven insurers have sued the Los Angeles school district to avoid paying a $30 million settlement to 58 alleged victims of child abuse at ... Southern California Wildfire Containment Doubles Overnight Firefighters working in darkness doubled containment of a massive wildfire north of Los Angeles to 40 percent overnight, as cool, moist air ... Nevada Governor Signs Law On Driver Privilege Card A bill allowing people in the country illegally to obtain driving privilege cards in Nevada was signed into law Friday by Republican Gov. ... IMO: Virtual Trade Shows Will Catch On I imagined that during my first virtual trade show I'd sort of feel like the sci-fi movie character Tron, mesmerized and captive in some ... Report: California Workers' Comp Insurers Return on Worth Up California workers' compensation insurers' average return on net worth increased for the second year in a row in 2011, according to the ... Cochrane Acquires Prowest In California Spokane, Wash.-based Cochrane & Company, a western-regional surplus lines brokerage and managing general agent, has acquired Prowest ... More West News International Tokyo Prepares for a 1-in-200-Year Flood to Top Sandy Tokyo, the world's most populated metropolis, is building defenses for the possibility of a flood in the next 200 years that could dwarf ... China Orders Probe Into Deadliest Plant Fire Since 2000 China's President Xi Jinping ordered an investigation into the cause of a fire at a poultry plant in northeastern China that killed at ... Germany, Czech Republic Brace for more Flooding after Heavy Rains Heavy rainfall swelled already full rivers in southern and eastern Germany on Saturday, prompting authorities to reinforce flood defenses ... Cyber Security Threats Pose 'Stealthy, Insidious' Danger - U.S. Defense Chief Defense Secretary Chuck Hagel said on Friday that cyber threats posed a "quiet, stealthy, insidious" danger to the United States and other ... Willis' Faber Global Exec Notes Decrease in UK Facultative Reinsurance Buys Several large UK cedants are reducing their spending on facultative reinsurance, according to the view taken by Vanessa Macdonald-Smith, ... China to Study Possibility of Joining U.S-Led Trade Talks China will study the possibility of joining the Trans-Pacific Partnership (TPP) trade talks, the Commerce Ministry said on Thursday, ... Best Affirms Mitsui Sumitomo Ratings; Upgrades Aioi Nissay Dowa A.M. Best Asia-Pacific Limited has affirmed the financial strength rating (FSR) of 'A+' (Superior) and the issuer credit rating (ICR) of ... More International News Sponsored Content NetRate Systems Introduces Value-Add Modules to Commercial Auto Rating Product Okemos, MI, 6/3/13 - NetRate Systems, Inc., a leading supplier of ISO® Commercial Lines Rating software for the MGA and carrier ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV The Good and the Bad: Healthcare Reform and Medical Liability The Patient's Protection and Affordable Care Act (ACA) has very little to do with the medical... Watch Now Changes in Underwriting Medical Professional Liability The United States is undergoing a massive transition -- and that's healthcare reform, says... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Standard Non-Compete Posted: Mon Jun 3 -- Most non-compete agreements in California don't hold water. You might want to check with legal council first on both the validity and... Big Dog QuickBooks Posted: Mon Jun 3 -- I've been thinking about using quick books for my agency. Can anyone comment on how well it works for managing payroll (1099 and W-2). shiftins Workers Comp TX Oilfield Service Contractor Posted: Sat Jun 1 -- try mike davis at Accident Insurance Services, Inc. ... johnbclinton 24 Hour CA Restaurant Posted: Fri May 31 -- Farmers will write it. I know that is not what you want to hear but I can do it for you if you wish. justthere 1st Year as a Producer Stories Posted: Wed May 29 -- Rainmaker, thank you for the advice. I am 9 months in so far and excited to hit year 2 soon. For me, the hardest part of being a new... californiadude Insurance agencies for sale ? Posted: Mon May 27 -- Yikes - call Marsh Berry or Dowling Hales. Rainmaker Non compete lawsuit Posted: Mon May 27 -- I've moved three books as a producer from a small agency, to a regional, to a global. I've also run practice groups and was a Regional CEO... Rainmaker CPCU - Advice Posted: Mon May 27 -- Perfect...bears repeating: "In the interest of full disclosure, I work for the Institutes (American Institute for... Rainmaker Go to Forums Reader Comments Judge Allows Mississippi Liability Suit Over Underage Drinker to Proceed Posted: Tue May 28 -- There's no possibility he had a fake ID? Can they prove whether he was served at the bar or became intoxicated at the Condo? Did anyone... Whodathunkit? Paterno Family Sues NCAA Over Penn State's Sandusky Fine Posted: Fri May 31 -- "Paterno's name and reputation have been damaged by the allegations." There is no way Joe PA had no knowledge whatsoever of how Sandusky... PSU Grad Mississippi Man Run Over by Lawnmower Sues Manufacturer Posted: Wed May 29 -- something is missing here...if he bought it two months before the accident switch must have been altered. I'm betting any manufacturer of... UW Mixed Reaction in Georgia to Push to Lower DUI Limit Posted: Thu May 30 -- ""We are not prohibitionist. We are not interested in eliminating drinking," Martin said." Like heck they aren't. If I recall, even... ExciteBiker Mississippi Homeowners Renew Lawsuit Against Exxon Over Alligators Posted: Fri May 31 -- No comment. I ain't seen the paperwork as yet. As for 84+ of us on one piece of property, heck, 35 acres is a lot of wiggle room. Give us a... Al E. Gator Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue June 3, 2013 Program Directory, Volume I 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 Insurance Salesperson Senior Underwriter - Commercial E&S Account Executive Business Development 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.