Daily Headlines: Monday, February 27, 2012

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February 27, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Forecasters Unsure What to Expect This Tornado Season Tornado season is starting, but don't ask meteorologists how bad it will be this spring and summer. They don't know. They're having a hard ... Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the "best in the world." ... Trial Date Set for Insurance Fraud with Ties to Frankel, Vatican More than a decade after it was filed, a federal judge in Mississippi has set a tentative trial date in a lawsuit stemming from scams run ... White House Internet Privacy Bill of Rights Met with Skepticism The White House proposed last Thursday a "privacy bill of rights" that would give consumers more control over their data but relies heavily ... BP Oil Spill Trial Delayed for Settlement Talks The trial to decide who should pay for the 2010 Gulf of Mexico oil spill has been delayed by a week to allow BP Plc to try to cut a deal ... Buffett Adds to Bullish U.S. Economic Recovery Signals Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where ... Ratings Roundup: McMillan-Warner, Republic, School Boards A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of 'A-' (Excellent) and issuer ... California Earthquake Authority Kicks Off Marketing Program for Agents The business of selling earthquake insurance to homeowners in California may have just gotten a bit easier. The California Earthquake... More National News East Maine AG Stands Behind Opposition to Fed Mandate A group of 32 Democratic women legislators is urging Maine Attorney General William Schneider to remove his name from a letter to the Obama ... FEMA Gives $19M to Help Rebuild Virginia High School The Federal Emergency Management Agency has awarded $19 million to help rebuild Louisa County High School, which was damaged during the ... Maine Wreath-Making Firm Awarded $1M in Lawsuit Against L.L. Bean A Maine wreath-making company has won a nearly $1 million judgment in a legal dispute with L.L. Bean over the production of wreaths and ... Conn.-based Wholesaler S.H. Smith & Co. Announces Promotions S.H. Smith & Co. Inc., a wholesaler and managing general agent headquartered in Hartford, Conn., announced three promotions. Jeanine Loomis ... More East News Midwest Ex-North Dakota Workers’ Comp Director Files Federal Appeal A former North Dakota workers' compensation director has asked a federal judge to review his felony conviction for misspending state funds, ... Report: Complaints Against Ohio Nurses Are on Rise Misconduct complaints against Ohio nurses have skyrocketed in recent years, leading to a backlog of investigations for the state nursing ... Fargo, North Dakota Police Make Record DUI Arrests in 2011 Fargo, N.D., police made a record 1,127 drunken driving arrests last year. Police Chief Keith Ternes says the 29 percent increase in DUI ... More Midwest News Southeast North Carolina Farm Bureau to Raise Homeowners' Rates, Drop Policies North Carolina's third largest homeowners insurer is looking to reduce its exposure in the state by increasing rates and rolling back its ... Florida Lawmakers Split on Workers' Comp Drug Dispensing; Rate Cut Possible Florida lawmakers appear headed toward a stalemate over how to rein-in the cost of physician-dispensed workers' compensation prescription ... Kentucky Screenings of Miners Highlights Risk of Drug Use More than 1,500 coal miners have tested positive for drug use since Kentucky began screenings six years ago, a state attorney told ... Alabama Judge Acquits Man in Australia Honeymoon Death A judge on Thursday acquitted a man accused of drowning his newlywed wife during a honeymoon diving trip to Australia eight years ago, ... West Virginia Judge OKs Settlement in Agent Orange Suit A West Virginia judge has approved a settlement in a class-action lawsuit filed by residents who say that chemical manufacturer Monsanto ... More Southeast News South Central Lawyers for Citizens’ Customers Reject Settlement A nearly $103 million offer by Louisiana's property insurer of last resort to settle claims disputes was rejected on Feb. 24 by lawyers ... Oklahoma Panel Rejects Earthquake Insurance Notification Bill An Oklahoma state representative said he is disappointed that a legislative panel rejected a bill aimed at informing consumers about ... Louisiana Reports 4-Year Decline Vehicle Thefts According to data from the FBI Uniform Crime Report, the rate of motor vehicles thefts in Louisiana decreased by 15.6 percent from 2009 to ... More South Central News West Insurer Sues Montana Over Asbestos Settlement A Nebraska insurance company has filed a lawsuit against the state of Montana to recover $16 million that was used primarily to cover a ... Judge Awards Iphone User $850 In Throttling Case When AT&T started slowing down the data service for his iPhone, Matt Spaccarelli, an unemployed truck driver and student, took the ... $1M Damage in Washington Propane Tank Explosion The fire department estimates property damage at $1 million from a propane tank explosion during construction work at a water treatment ... Apheta, O'Riordan Announce Strategic National Partnership San Diego, Calif.-based O'Riordan and Associates, a strategic financial planning and insurance firm, announced it has merged with ... Workplace Bullying Could Become Safety Violation in Hawaii Bullying, abuse and verbal harassment in the workplace may cause employees physical and psychological harm. That's part of the rationale ... Avalanche Danger in Rockies At High This Season Business is lagging this year at the Boulder Outdoor Center in Colorado, where adventurers come to book and buy equipment for ski trips ... Mom Sues UC Over Son’s Overdose at UC Berkeley The mother of a University of California, Berkeley student who suffered severe brain damage after a drug overdose on campus is suing the UC ... More West News International Lloyds Bank’s Huge Loss Tied to Insurance Sales U.K. high street lender Lloyds Banking Group on Friday posted a 2.8 billion pound ($4.4 billion) loss for 2011 after it set aside 3.2 ... Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe's ... Ratings Roundup: PMG (Sony), National Grid, Tapiola A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of" A' (Excellent) and issuer ... More International News Sponsored Content AmWINS Transportation Underwriters Receives MGA Appointment for 'A' XV Rated Carrier to Underwrite Long Haul Truckers Burlington, NC, 02/24/12 - AmWINS Transportation Underwriters is proud to be one of just five MGAs appointed with this 'A' XV rated ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV Chartis CEO Hancock on Fear, Regulation, Science and Expenses Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the... Watch Now Lobbyist Norwood Analyzes Consumer Watchdog Legislation John Norwood is one of California's best known legislative advocates for the insurance and... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Facebook Posted: Mon Feb 27 -- I can't stand the way the social sites have now been integrated into online searches. Looks like to be at the top Facebook and Google+ is... insurancedad Should I accept Allied Appointment? Posted: Mon Feb 27 -- I was looking into Allied to add to my agency. Thank you all for the great input. insurancedad Identity Theft Insurance Posted: Fri Feb 24 -- Looking for information on selling Identity Theft Insurance? Thanks! sunny CA Electrical Contractor BOP/GL Posted: Thu Feb 23 -- Looing for markets for an electrical contractor, al work is interior commercial nothing over 2 or 3 stories. no new construciton or... joey52 claims question Posted: Thu Feb 23 -- Even though an insured's policy may exclude coverage under property or liability, the claimant can go to court (even small claims court) and... darnovak My CPCU journey - almost finished..... Posted: Sat Feb 18 -- Congratulations! I think the CPCU program is a good program. I got halfway through the program earlier in my career. For me. completing the... Robert742 Personal Quake Insurance - CA Posted: Fri Feb 17 -- Firemans Fund will write quake on high value dwellings, so will Chartis/Lexington. Depending on where your risk is located, and the... LadyBroker Go to Forums Reader Comments '100-Year Storms' May Happen Every 3 to 20 Years: MIT-Princeton Research Posted: Wed Feb 22 -- I'll bet JamesTR is the kind of guy who loves to listen to himself talk. Can you imagine having to sit anywhere near that gasbag at work? NoGWsince98 Pennsylvania Township, Schools Pay $63K to Banned Fan Mom Posted: Fri Feb 24 -- It really should be mandatory that parents be given a tranquilizer before they are allowed to watch their kid play sports. Anejo Pennsylvania Christian College Sues Over Birth Control Regs Posted: Thu Feb 23 -- All IRC section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: their net earnings... The Other Point of View Oregon Jury Awards $25M In Smoker's Death Posted: Tue Feb 21 -- Smokers know the danger of smoking. Awarding them millions of dollars is silly. I am a smoker and I KNOW the possibilities that go along... Sherry Obama Budget Bolsters Intellectual Property Enforcement Posted: Mon Feb 20 -- I will keep my God, Guns and Flag, you can keep the "Change" Anybody but Obama in 2012! Sam Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Agency Salary Survey; Boats & Marinas; Agribusiness / Farm & Ranch February 20, 2012 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Producer, Commercial Lines Insurance Producers Commercial or Personal Lines Insurance Producer Client Service Representative 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.

Kidnap & Ransom Coverage's Myths, Lies and Legends Answered

New training from Insurance Journal's Academy of Insurance. Register today! Having trouble reading this email? View it as a webpage. Not interested anymore? Unsubscribe instantly. Myths, Lies and Legends Surrounding Kidnap & Ransom Coverage Often misunderstood and undersold, this coverage can make or break not only the financial health of a company, but the health and safety of its owners and key employees. Exposures are more widespread than agents or insureds imagine. Click Here to Register What you will learn in this webinar: Respond to common misconceptions about K&R and how it works Identify who needs the coverage Overcome objections regarding purchase Evaluate the variety of offerings in the marketplace When you register, you get: Access to the live webinar Video and audio recordings, so you can watch or listen again Question & Answer session with the instructor Audio download of the webcast Presentation slides download Join us this Wednesday, February 29th for this one-hour training webinar. (PLUS, all registrants will receive video and audio recordings of the webinar, so you can listen/watch again at your convenience.) Space is limited! Click Here to Reserve Your Spot! Regularly priced at $129.00, just $89 when you register today! (special pricing expires February 28th) Have questions or need help? Send an email to webcasts@insurancejournal.com or call Barbara at 800-897-9965 x166. Date: Wednesday, Feb. 29th Time: 1:30pm ET / 10:30am PT Duration: 1 Hour Price: Save $40 until Feb. 28th! Register today for just $89! Click Here to Register Instructor: Chris Christian, CIC, RPLU Industry leader and experienced broker, specializing in professional liability. More Great Training: MAR 1: What to Know about Security and Privacy and the Policies that Insure it - Security and Privacy is one of the fastest growing segments in the Insurance Industry. Do you know all you need to know about Security and Privacy and how the different laws affect us? MAR 7: Insolvency Exclusions in E&O - If your agency has the Insolvency Exclusion in its E&O Policy, this webinar is for you! MAR 8: Practical Workers' Compensation: What you need to know (4-part series) - Statutes, common law, contracts and the human element combine to produce a safety net for workers injured on the job. MAR 14: Learn How to Use DISC to Win Business - The DISC personality behavior model is an effective tool that allows you to identify your customer's preferred communication style - quickly establishing a positive connection. Once you understand your client's preferences, you can tailor your presentations and target your message to meet their needs. MAR 15: Practical Workers' Compensation: Employees, Contractors and Contractual Risk - Who qualifies as an "employee?" This session dissects employee/employer relationships to avoid surprises following a loss or at audit. Send to a Friend | Contact Us | Subscribe | Unsubscribe | Privacy Policy Insurance Journal 3570 Camino del Rio North, Suite 200 San Diego, CA 92108 (800) 897-9965 Copyright © 2012 by Wells Publishing, Inc.

Daily Headlines: Friday, February 24, 2012

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February 24, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Bankers and Their Insurers Escape Big Penalties in FDIC Prosecutions Like many banks engulfed by the mortgage crisis, First National Bank of Nevada specialized in risky home loans that didn't require ... P/C Insurers Face Obstacles on Road to Hard Market With interest rates low and looking like they will stay low for some time to come, property/casualty insurance companies will have to focus ... Complex Trial Over Blame for Gulf Oil Spill Set to Open It could be the ultimate case for passing the buck. A massive trial over the 2010 Gulf of Mexico oil spill heads for a New Orleans federal ... Tornado Chasers Prepare for High Season With the month of March looming, United States tornado chasers are already watching the Southeast as a nasty storm brews with the potential ... 6 Things I Learned from Reading Steve Jobs Authorized Biography The first lesson learned from Walter Issacson's best-selling biography, Steve Jobs (Simon and Schuster), is that you should have started ... CORE Underwriters Launches Habitational Program CORE Underwriters is seeking partnerships to expand its distribution base across the country after launching its habitational insurance ... AIG Posts Huge Q4 Profit on Tax Benefit; Chartis Reports $348M Income Bailed-out insurer American International Group reported a $19.8 billion profit for the fourth quarter, after an accounting change that ... Insurance Plays Lead Role in Movies Americans love movies, and they showed it by purchasing 1.2 billion tickets worth about $10.2 billion at the box office last year. That, of... More National News East AIG’s Benmosche: ‘AIG Has Not Only Survived, It’s Got Its Strength’ AIG's top executives struck an optimistic note as the insurer reported strong 2011 fourth-quarter profit results. CEO Robert Benmosche told ... Ironshore Opens P/C Production Center in Boston for Wholesale Market Ironshore Inc. has opened a Property/Casualty production center in Boston dedicated to the insurance wholesale market, the company said. ... Pennsylvania Township, Schools Pay $63K to Banned Fan Mom A Pittsburgh-area suburb and its school district will pay $63,500 to settle a civil rights lawsuit filed by a woman who claims she was ... Massachusetts Court Says Teens Not Liable Under Social Host Law The highest court in Massachusetts ruled Tuesday that teenagers who host underage drinking parties but do not supply alcohol cannot be held ... Selective Insurance Announces Officer Appointments Selective Insurance Group announced 10 officer appointments by its subsidiary, Selective Insurance Company of America: Kimberly Burnett ... More East News Midwest Indiana Panel Backs Bill Requiring Stage Inspections Indiana's building safety commission would set standards for inspecting large, temporary outdoor stages under a proposal advancing in the ... Lawsuit Filed in Iowa Over Tainted Sprouts An Iowa woman sickened by eating tainted sprouts filed a lawsuit against sandwich chain Jimmy John's, the first stemming from a recent ... Sen. Durbin Announces Funds for Illinois Fire Departments U.S. Sen. Dick Durbin has announced a nearly $1.4 million federal investment in five Illinois fire departments. The funding will help boost ... More Midwest News Southeast Mississippi Moves to Enforce Flood Codes on Hunting-Fishing Camps The Mississippi House has approved a bill to allow local governments to enforce federal floodplains codes at hunting and fishing camps and ... North Carolina Says 2 Counties Must Buy Flood Insurance to Get Loan North Carolina Gov. Beverly Perdue is making a no-interest state loan available to repair two schools and other public buildings in Tyrrell ... North Carolina Court Denies Damages in Wrongful Death of Dog The North Carolina Court of Appeals has waded into a legal tussle over the wrongful death of a Jack Russell terrier. Nancy and Herb Shera ... Court Upholds 1998 Tobacco Deal, Denies North Carolina Firm’s Claims The landmark 1998 national settlement between 46 states and 19 tobacco companies is valid and doesn't amount to a conspiracy or ... More Southeast News South Central Louisiana Citizens Board Offers $103M to Settle Lawsuit Louisiana's property insurer of last resort is offering nearly $103 million to settle disputes over its handling of claims after hurricanes ... Western Security Surplus' Stevens Helps Launch Berry Family 5K On July 3, 2011, while returning to their home in Houston, Texas, from an annual family road trip to Colorado, the Berry family found ... Committee Calls for Oklahoma Insurance Exchange A legislative committee has recommended that Oklahoma create its own health insurance exchange so the federal government doesn't establish ... More South Central News West Lawsuit Filed Over Lake County Sheriff’s Dispute in Montana Five current or former members of the Lake County sheriff's office in Montana have filed a lawsuit against the sheriff and others claiming ... Measure Limiting Asbestos Liability Clears Idaho House A bill that would limit national bottle-top maker's liability for asbestos-related health claims in Idaho has won support in the Idaho ... Colorado Car Dealers Installing GPS to Protect Risky Loans Some Colorado car dealers who are approving high-risk loans for the vehicles they sell are installing GPS tracking units to protect their ... Electronic Proof of Insurance Gaining Steam in Some States It's possible that driving with a cell phone may be an advantage. A California legislator's bill to enable auto insurance policyholders ... Heffernan Names Eliopoulos Assistant Vice President Walnut Creek, Calif.-based Heffernan Insurance Brokers named Tyler Eliopoulos to its San Francisco office as assistant vice president, ... NAS Appoints Palotay Senior Vice President Of Underwriting NAS Insurance Services named Michael Palotay as senior vice president of underwriting. Palotay has been with Encino, Calif.-based NAS since ... More West News International Asia Insurer AIA Boosted by Surge in New Business AIA Group Ltd, Asia's No.3 insurer, reported a 40 percent rise in value of new business for its fiscal full year and growth in Thailand ... Top Japan Insurer to Cut Coverage for Ships in Iran Under Sanctions Japan's main shipping insurer will only be able to provide a fraction of the coverage to tankers transporting Iranian oil under new ... India Still Insuring Exports to Iran India' export guarantee agency has not stopped giving insurance cover to shipments to Iran and has only tightened criteria as part of a ... Fondiaria Battle Heats up as Funds Table Offer; AXA Interested The battle for control of Italian insurer Fondiaria-SAI heated up on Wednesday when two private equity funds tabled a rival offer to one ... Swiss Re Reports $2.6 Billion 2011 Net Income Despite Nat Cats Swiss Re reported net income of $2.6 billion for the full-year 2011, despite what it described as "an exceptional natural catastrophe ... New London Broker Q360 Launched in Partnership with Tawa A new London-based broker, Q360, has been launched with Tawa providing the capital backing. Q360 Ltd will initially operate within the ... Best Affirms RSA and Operating Subsidiaries Ratings; Outlook Stable A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings ... More International News Sponsored Content Insurance Journal now available on the iPhone - Download it free today! More Sponsored Content Insurance Journal Blogs And the winner is … It's the Academy Awards for the insurance industry ... a star-studded evening featuring the best of the best in insurance marketing, ... More Blogs Join the Insurance Journal Network Insurance Journal TV Chartis CEO Hancock on Fear, Regulation, Science and Expenses Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the... Watch Now Lobbyist Norwood Analyzes Consumer Watchdog Legislation John Norwood is one of California's best known legislative advocates for the insurance and... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Identity Theft Insurance Posted: Fri Feb 24 -- Looking for information on selling Identity Theft Insurance? Thanks! sunny CA Electrical Contractor BOP/GL Posted: Thu Feb 23 -- Looing for markets for an electrical contractor, al work is interior commercial nothing over 2 or 3 stories. no new construciton or... joey52 Condominium Association GL - East Coast Posted: Thu Feb 23 -- Does anyone know of any good ADMITTED GL carriers for condo associations, besides Auto-Owners, Starr, USLI? SCIG Questions about starting an MGA Posted: Thu Feb 23 -- Thanks Mike. That website is really a nice resource. I will be contacting your company to learn more about the system you have. I really... paulbennings claims question Posted: Thu Feb 23 -- Even though an insured's policy may exclude coverage under property or liability, the claimant can go to court (even small claims court) and... darnovak My CPCU journey - almost finished..... Posted: Sat Feb 18 -- Congratulations! I think the CPCU program is a good program. I got halfway through the program earlier in my career. For me. completing the... Robert742 Personal Quake Insurance - CA Posted: Fri Feb 17 -- Firemans Fund will write quake on high value dwellings, so will Chartis/Lexington. Depending on where your risk is located, and the... LadyBroker Partnership Questions Posted: Fri Feb 17 -- I'm in VA. Taylyn Go to Forums Reader Comments Obama Budget Bolsters Intellectual Property Enforcement Posted: Sat Feb 18 -- arguing with a liberal is like trying to talk logic to a five year old. Okay, Other, when you spend more than you take in its called a... Sarah Pennsylvania Christian College Sues Over Birth Control Regs Posted: Thu Feb 23 -- All IRC section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: their net earnings... The Other Point of View Oregon Jury Awards $25M In Smoker's Death Posted: Tue Feb 21 -- Smokers know the danger of smoking. Awarding them millions of dollars is silly. I am a smoker and I KNOW the possibilities that go along... Sherry Creator of Consumer Watchdog Attack Site Says More Attacks to Come Posted: Fri Feb 17 -- So, 'tens of millions' of Californians can't afford their insurance? CA only has 37m people. So CW says more than half the population can't... Homer Connecticut Seeks to Recapture Role as Insurance Capital Posted: Tue Feb 21 -- If Hartford wants to be a capital of anything besides itself, it should stop rolling up the sidewalks at 5:30PM on the average Friday. City... reality bites Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue Agency Salary Survey; Boats & Marinas; Agribusiness / Farm & Ranch February 20, 2012 More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Insurance Producers Commercial or Personal Lines Insurance Producer Client Service Representative Inland Marine Underwriting Specialist 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.