Daily Headlines: Thursday, September 22, 2011

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September 22, 2011 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National House Defeats Bill Funding Government; FEMA, Flood Insurance in Doubt The House of Representatives unexpectedly defeated a bill that would fund the federal government [including the federal flood insurance ... Marsh Advises Risk Managers As C-Suite Expectations Rise Global insurance broker Marsh held a webcast on Sept. 21, where the firm's analysts shared their views on the current business environment ... How Federal Reserve’s Move Hurts Life Insurers The Federal Reserve's latest move to stimulate credit for consumers and businesses, known as Operation Twist, is likely to threaten the ... Wells Publishing to Launch New Claims Journal Magazine Wells Publishing Inc. announces the launch of Claims Journal magazine, a quarterly publication targeting claims professionals in the ... Freedom Specialty Hires Cyber Liability Products Director New York-based Freedom Specialty Insurance Co. appointed John Merchant as director of network security, data privacy and technology risk. ... New Sports, Special Events Insurance Agency Started in Indiana Sports Insurance Specialists (SIS), LLC, a sports and special events insurance brokerage has opened in Fort Wayne, Ind.  The brokerage was ... Insurer Group NAMIC Honors Hartwig The National Association of Mutual Insurance Companies (NAMIC) named Robert P. Hartwig, Ph.D., president/CEO of the Insurance Information ... More Optimism, but Plenty of Controversy Surrounds Mortgage Broker E&O Segment Insurance agents serving the mortgage broker marketplace see some signs of improvement but they aren't yet jumping for joy. The mortgage... More National News East Mass. High Court Upholds Charging Fees for Traffic Ticket Appeals The Massachusetts Supreme Judicial Court ruled that charging filing fees to residents appealing traffic tickets does not violate equal ... 1 in 3 in Massachusetts Hit by Data Breaches The Massachusetts attorney general's office said the personal information of about two million Massachusetts residents, or about one out of ... AIG Appoints Former IRS Attorney as Deputy Tax Director American International Group Inc. (AIG) has hired Clarissa Potter, former deputy chief counsel at U.S. Internal Revenue Service and former ... More East News Midwest Indiana Expediting Claim Process for Victims of State Fair State Collapse Families of those who died and victims who were injured in the Indiana State Fair incident on Aug. 13, 2011, are being asked to complete a ... Indiana Increases Non-Resident License Fee for Illinois Producers Indiana insurance regulators announced that the non-resident producer license fee is increasing to $250 for Illinois resident producers. ... Insurer Group NAMIC Names Illinois Rep. Biggert ‘Legislator of Year’ The National Association of Mutual Insurance Companies (NAMIC) presented the Federal Legislator of the Year Award to U.S. Rep. Judy ... More Midwest News Southeast Florida Supreme Court Weighs If Public Adjuster Law Limits Free Speech Public adjusters would have more access to homeowners in the immediate aftermath of a storm if the Florida Supreme Court rules Florida's ... BP Oil Lingering on Gulf Coast Floor Could Pose Long-Term Risk Tar balls washed onto Gulf of Mexico beaches by Tropical Storm Lee earlier this month show that oil left over from last year's BP spill ... Florida Approves Use of Revised RMS Hurricane Model A Florida state panel has approved the use of a new hurricane catastrophe model that is increasing many insurers' exposure. The Florida ... More Southeast News South Central Insurance Journal Names Trammell as South Central/Texas Advertising Rep Wells Publishing has named Mindy Trammell as its new advertising sales representative in the South Central/Texas region for its flagship ... Power Line Sparks Likely Caused Bastrop, Texas Blaze Fire officials say sparks from electric power lines likely started the blaze that became the most destructive wildfire in Texas history. ... Texas Workers’ Comp August Enforcements Include Fines of Up to $18K The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) announced the following disciplinary actions that became ... More South Central News West California Homeowners’ Suit Against Builders Revived A federal appeals court revived a lawsuit by homeowners who accused eight major homebuilders of causing them to overpay for their homes by ... BB&T Insurance Services to Acquire Liberty Benefit Insurance BB&T Insurance Services is acquiring San Jose-based Liberty Benefit Insurance Services. Liberty will operate as BB&T-Liberty ... NAS Appoints Schmickle SVP of New Entertainment and Sports Division Encino, Calif.-based NAS Insurance has appointed Jerid Schmickle as senior vice president of its newly launched entertainment and sports ... In Wake of Reno Tragedy, Insurers Draw Distinctions Between Air Races and Airshows With an 11th fatality declared as a result of the crash at the National Championship Air Races in Reno, Nev. on Friday, one of the ... Google Urges Judge Reject Oracle’s $2.2B Patent Damages Claim Google Inc. urged a federal judge to reject an Oracle Corp expert's recommendation that it pay more than $2.2 billion for infringing on ... Source: Sheen, Warner Nearing Deal on Lawsuit Former "Two and a Half Men'' star Charlie Sheen and the studio that fired him are drawing closer to a deal to end their legal dispute. ... More West News International Lloyd’s CFO Stresses Overall Strength after Record Loss Lloyd's of London reported the largest first half loss in its 323 year history yesterday, Sept. 21 - £697 million, or over $1 billion. ... Politicians, Investors Worry Over Shrinking Middle Class, Role of Social Media The rising gap between rich and poor in nearly every country, rich or poor, went largely ignored during the decades of globalization-fueled ... AIR Report: Typhoon Roke Now Offshore; Passed Tokyo with Heavy Rain According to catastrophe modeling firm AIR Worldwide, after crossing over more than 350 kilometers [219 miles] of the main Japanese island ... Hurricane Center Tracking TS Ophelia; Poses No Immediate Threat The National Hurricane Center in Miami is currently tracking the season's latest named storm, Ophelia, the 15th of the current season. As ... Willis Chief Tells Asian CEO’s Insurance ‘Not Just About Coverage’ Joe Plumeri, the Chairman and CEO of Willis Group Holdings, told more than 100 leading Asian CEOs' that "insurance is not just about ... Aon Benfield Conference Underlines ‘Complexity’ of Catastrophic Events Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., will urge insureds and insurers to "look at the bigger ... Lord Levene to Receive Rarely Given Gold Medal for Services to Lloyd's Lloyd's announced that its outgoing Chairman, Lord Peter Levene, who steps down on October 12, is "to receive a rarely-struck Gold Medal to ... Wilford to Head Willis Global Aerospace; Smaje is New CEO; Hanrahan, President Willis Group Holdings plc announced that Mark Wilford, currently Director of Risk at Rolls-Royce Group plc, has been appointed Chairman of ... Best Affirms XL Group, P&C Subs ‘A’ Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of the ... FERMA Elects Luzzi as Next President, Dennery as VP Jorge Luzzi, Group Risk Management Director for Italian tire maker Pirelli worldwide, has been elected as the next President of the ... More International News Insurance Journal Blogs “Do’s and Don’ts” for Starting Up A Corporate Volunteer Effort Thousands of insurance workers will be turning out for Volunteer Week (coming up October 15-22), sponsored by the Insurance Industry ... More Blogs Join the Insurance Journal Network Insurance Journal TV PURE Innovation During his 25-year career in the property/casualty insurance business, Ross Buchmueller has... Watch Now Lloyd's Chairman Lord Peter Levene on Reinsurance, the U.S. Market and Some Future Plans Lord Peter Levene talked to the IJ on his balcony at the Hotel de Paris. His reign as... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Garage Liability and loaner vehicles Posted: Wed Sep 21 -- Yeah, I have no idea why the OP says he has no coverage for her. Rob 3 Properties in Texas? Posted: Wed Sep 21 -- Where are they in Texas? How old, etc, etc......Coastal? centex Should I get Cal. Low Cost Auto Ins. in our office? Posted: Tue Sep 20 -- In addition to what D's said, the plan offers low limit, 10/20/3. I agree that it does not make business sense for many agents from multiple... wariline Worker's comp commission Posted: Mon Sep 19 -- Wow-In many years of writing in CA, have yet to get 15% . Most in CA seems to be 12% down to as low as 6% (I do not include SCIF) Big... jackwehoca No Fault insurance question Posted: Mon Sep 19 -- John J90, you need to study up on your state's no-fault laws if you are out marketing auto insurance. It's pretty critical that you know how... BKCPCU Do you recommend bonds or crime insurance? Posted: Fri Sep 16 -- I would say that in many cases there is coverage through a crime policy or endorsement providing employee dishonesty on the victim's package... FurriePrincess Help our MLR (Medical Loss Ratio ) Posted: Fri Sep 16 -- My company is a platinum representative for Blue Cross, however our MLR with them is 130%. We have stopped submitting apps from people who... cbaw1957 Study tips for the California Life Agent Exam Posted: Fri Sep 16 -- I too went through prelicencetraining.ripoff. I passed the test by the skin of my teeth and I studied 2 1/2 months. At first, I just read... cbaw1957 Go to Forums Reader Comments Lloyd's Syndicate Sues Saudi Arabia for $215M Over 9/11 Claims Posted: Thu Sep 15 -- Awesome! Go get 'em. Scott Romoser Pennsylvania Jury Finds Nurse Liable, Awards $23 Million to Amputee Posted: Mon Sep 19 -- If that poor woman lived in VA she would have a med mal cap of under $2,000,000 which is terribly inadequate for such a case. Deborah Brown More Americans Believe World is Warming: Reuters Poll Posted: Mon Sep 19 -- Why is there even a debate as to whether the world is warming? It is. I thought the debate was more around man's connection to the... Matt Top 5 Technology Priorities for P/C Insurers Posted: Mon Sep 19 -- The ultimate company objective is to reduce employee count to the present company officers, a couple of programmers and one guy to take the... Bob Insurer Says Exclusion Bars Payment in Nebraska Pastor's Death Posted: Wed Sep 21 -- The Nebraska Surpeme Court has already ruled that carbon monoxide is a pollutant and that there is no coverage on the basis of the absolute... 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