Monday, August 22, 2011

Daily Headlines: Monday, August 22, 2011

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Insurance Journal Daily Headlines
August 22, 2011
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Today's Headlines

National

Marsh Executive Sues Spitzer for $60 Million Over Slate Column

Former New York Governor Eliot Spitzer has been hit with a $60 million libel lawsuit by a former Marsh & McLennan Cos. executive over a ...

NFL Facing Possible Class Action Claim Over Concussions

Seven former players have sued the NFL in Philadelphia over the league's handling of concussion-related injuries, the first potential ...

Financial Firms Balk at New Law to Help Catch U.S. Tax Evaders

A U.S. law meant to snuff out billions of dollars in offshore tax evasion has drawn the criticism of the world's banks and business people, ...

GM Says Bankruptcy Shields It Against Impala Lawsuits

General Motors Co. is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 ...

Judge Rejects JPMorgan’s Bid to Dismiss Whistleblower’s Retaliation Claim

A Manhattan federal judge rejected JPMorgan Chase & Co.'s bid to dismiss a whistleblower lawsuit by a former private banker who said ...

Last Chance: Complete the Best Agencies to Work For Survey Now

Is your independent insurance agency a GREAT place to work? If so, don't miss this LAST CHANCE to recognize your agency as one of the ...

Abacus Insurance Brokers Launches Online Jewelers Block Program

Abacus Insurance Brokers, Inc., a Los Angeles-based program manager that distributes specialty insurance products online, has launched an ...

Court Sets October Deadline for Women Suing WalMart

Women who were part of a massive class action lawsuit against Wal-Mart Stores Inc. will have until the end of October to file individual ...

From MyNewMarkets.com Banks Seek Liability Shield for Future Home Mortgages

U.S. banks still wrestling with legal troubles springing from the subprime mortgage crisis are lobbying the new consumer agency for strong...
THIS WEEK: Construction Bonds
East

Hunter’s Lawsuit Stirs Landowner Liability Concern in New Hampshire

Some New Hampshire lawmakers worried a lawsuit by a hunter will prompt landowners to close their lands to hunting and other recreational ...

Prosecutors Want Jail for Rhode Island Radio Host for Insurance Fraud

Federal prosecutors are arguing against a home confinement sentence for a former Rhode Island radio disc jockey who damaged her North ...

Virginia Moving Firm to Pay for Hair Discrimination

A Roanoke, Va.-based moving company will pay $30,000 as part of a settlement with a Waynesboro-area man who says he was denied a job ...

South Jersey Man Sentenced for Filing False Claim

A Cumberland County man was sentenced for filing a false vehicle theft claim. Casey M. Wendling, 28, of Millville, was sentenced to five ...

Vermont Contractor Gets 30 Days for No Workers’ Comp

The Vermont attorney general's office said a Williston County contractor was sentenced to 30 days in jail for violating Vermont's workers' ...
NEXT WEEK: Top 10  Things Agents do Everyday - But Shouldn't
Midwest

Cap Limits Indiana's Liability in Stage Collapse to $5M

Indiana's $5 million cap on liability in accidents is far too low for the number of deaths and injuries involved in the recent deadly stage ...

North Dakota State University Sues Over Denied Minard Hall Claim

A state insurance fund has rejected a claim filed by North Dakota State University for the collapse of Minard Hall. The State Fire and ...

North Dakota Farm Groups Backing Crop Insurance, Research

Crop insurance, research and export promotion should be among the top priorities in the next federal farm bill, say spokesmen for North ...

Tornado Causes Some Damage in Michigan’s Upper Peninsula

The first tornado to touch down on Michigan's Upper Peninsula this year caused some property damage in Ontonagon, but no reported injuries. ...
Southeast

Hurricane Irene Soaks Puerto Rico, Could Hit Florida By Week’s End

Hurricane Irene buffeted Puerto Rico with winds and torrential rain Monday, knocking out power and downing trees as it churned westward on ...

Insurers Oppose Change in South Carolina Workers’ Compensation Medical Fees

A new South Carolina regulation for calculating medical fees in worker injury cases has set off opposition from insurers and business ...

DuPont Plantiffs in West Virginia Allowed to Seek Medical Monitoring

A judge says 14 plaintiffs can enroll in a court-administered medical monitoring program even as they sue DuPont over a West Virginia ...

Alabama County Proceeding with Own Spill Claim Against BP

Baldwin County, Alabama commissioners have voted to proceed with an $11.95 million damages claim against oil giant BP involving last year's ...

Kentucky Malpractice Trial Over Amputated Penis Opens

Opening arguments are scheduled to be heard today in the civil trial of a man who is suing a surgeon who amputated his penis four years ...
South Central

Oklahoma Commissioner Revokes Agent's License, Files Charges Against Couple

Oklahoma Insurance Commissioner John Doak has revoked a Stigler woman's license to sell insurance, and the agent and her husband have ...

Louisiana Man Gets Prison for Fraudulent BP Claim

A Houma man has been sentenced to one year in prison for fraudulently receiving money from the $20 billion claims fund that BP PLC ...
West

California Lawyer Sentenced in Huge Auto Fraud Case

California Insurance Commissioner Dave Jones today announced that Susana Ragos Chung, 60, a Los Angeles area based attorney has been ...

California Targets Law Firms It Says Preyed On Struggling Homeowners

California has broken up what it called a ring of law firms that fraudulently induced struggling homeowners nationwide to pay thousands of ...
International

Hurricane Irene – 1st of the Season – Could Hit Miami

Tropical Storm Irene strengthened into a hurricane as it came ashore over Puerto Rico, reaching category 1, according to the most recent ...

London’s Marine Insurers Say Libya to Stay on ‘High Risk’ List

There is no immediate prospect of Libya being removed from a list of areas deemed high risk by London's marine insurance market. ...

Pirates Attack 2nd Tanker in 2 Days near Omani Port

A chemical oil tanker foiled a hijack attempt by pirates near the Omani port of Salalah on Sunday, a day after a tanker and crew were ...

Electronic Endorsements Success Spreads across London Market

The London Market Group (LMG), which introduced a platform for the electronic support for endorsements in April, noted that the program has ...

Lancashire’s Shareholders Approve UK Tax Move Plan; Share Increase

Bermuda-based Lancashire Holdings Limited has received approval from its shareholders to proceed with its previously announced plan to move ...

MMA Insurance UK Expands Commercial Auto Coverage

The UK's auto (motor) insurance market is extremely competitive, and over the past few years usually unprofitable. As a result a number of ...

Giggins Joins Miller's Hong Kong Office for Asian Financial Risks

UK-based broker Miller Insurance Services announced that Martin Giggins has joined the firm's Hong Kong office to spearhead the development ...

S&P Revises Outlook on AEGON to Stable; Affirms Ratings

Standard & Poor's Ratings Services has revised its outlook on AEGON N.V. and its operating subsidiaries to stable from negative, and ...
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What's in a Name? Unitrin CEO Southwell Says A Lot

A legendary insurance company name is back in the headlines. Unitrin Inc. has taken the Kemper...
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Brokering the Hot Cyber Liability Market

With data breaches in the news, cyber liability insurance is gaining recognition. The market...

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New Discussions in the Forums

CA Work Comp for Nightclubs
Posted: Mon Aug 22 -- I have a couple different PEO markets that will take a look at this type of risk. In addition to the work comp savings it may be a great... Chad Filley
Insuring multiple LLC's on the Same policy
Posted: Mon Aug 22 -- Tembler, thank you for your response. So, what you are saying is that if you have common ownership you can insure them on one policy, (as we... Eagleeye
Retail to Wholesale???
Posted: Fri Aug 19 -- I see where you are coming from on this and would like put it to you this way. This might be too simple of a way to look at it but, after 30... Eagleeye
Social Media
Posted: Thu Aug 18 -- InsuranceGuy, I offer a slightly different vision of five years from now. Companies (and agencies) that do not have a presence in social... JasonBHBCo
Merchant Services
Posted: Thu Aug 18 -- I was hoping to see feedback on your post; we have been looking at credit/debit card services for the past 6 months and we have had a lot of... texican
CA Restaurant WC
Posted: Wed Aug 17 -- We Currently use Employers, Hartford, Travelers, etc... I need to know what Companies are really competitive in the small Comp market for... JAM

Reader Comments

Group of Allstate Agents Votes to Unionize
Posted: Thu Aug 18 -- It seems like Senior management should be concerned with a situation that required their agents to affliate with a union. Whats to stop the... Bob
Jury Acquits Boston Bodybuilding Firefighter of Fraud Charges
Posted: Tue Aug 16 -- Are you kidding me??? How can any jury NOT say this guy is committing fraud? He's "too sore" to do non-lifting inspections as an employee,... Scott says...........
Virginia 'Guns in Bars' Study Finds Little Effect on Crime
Posted: Tue Aug 16 -- This story is not shocking. The criminals were already carrying their concealed weapons into bars. The only difference now is that the... Wayne
Chicago Must Hire 111 Black Firefighters; Distribute $30M in Back Pay
Posted: Fri Aug 19 -- Why bother to have a test if you can't take the highest test scores. MI agent
U.S. Court Rules Against Obama Healthcare Mandate
Posted: Mon Aug 15 -- How interesting life is... The Individual Mandate i.e. "personal responsibility" was touted far and wide by the Heritage Foundation, Grover... Nan

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