Wednesday, December 14, 2011

Daily Headlines: Wednesday, December 14, 2011

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Insurance Journal Daily Headlines
December 14, 2011
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Judge Tosses JPMorgan Lawsuit Against Insurers

A JPMorgan unit cannot force insurers to pay a $250 million settlement between failed investment bank Bear Stearns and government ...

Best Practices to Prevent Employee Fraud in a Recession

Difficult economic times like these are always accompanied by an increase in employee fraud claims. While most employees are honest and ...

Gov’t Says Holiday Decorating Injuries on the Rise

`Tis the season for dancing sugar plums, goodwill toward all -- and sometimes emergency-room trips from holiday decorating injuries. The ...

Ironshore Names Tracey as VP, Specialty Casualty

Ironshore Inc. named Tracey Sharis as specialty casualty unit as vice president. Sharis will be responsible for expanding Ironshore's ...

Mutual Insurers Pleased with FDIC Rule Clarifying Dodd-Frank

Mutual insurers are pleased with a new proposal that makes it clear they would continue under state regulation and not be governed by the ...

Torus Enters U.S. Surety Market

Torus has entered the U.S. surety market with the launch of Torus Surety and the acquisition of First Sealord Surety Inc. The deal should ...

Willis Launches Global Insurance Placement Tool

Willis has announced the global launch of its insurance placement system, WillPLACE. The online tool was designed to help the broker place ...

From MyNewMarkets.com Insurers Take Multiple Approaches for Multifamily Housing Market

The economy appears to showing some slight signs of improvement, which spells good news for insurers, especially those that insure some of...
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East

Travelers Indemnity Seeks Claims Limit in Western Penn. Turnpike Mess

An insurance company says its liability for a pre-Thanksgiving asphalt spill on the Pennsylvania Turnpike should be limited to $1 million. ...

Male Pedestrians More Likely to be Struck Than Females on N.J. Roads

Male pedestrians are more likely to be struck and killed than females on New Jersey roads. That's one of the findings in the 2011 ...

Groups Voice Concern Over Virginia Nuke Plant

Groups concerned about the safety of Dominion's North Anna Nuclear Power Station are asking federal regulators to reevaluate their decision ...

Va.-based IT Firm CSC Launches Insurance Cybersecurity Council

Virginia-based IT services provider CSC is forming an advisory board to help tackle cyber security issues in the insurance industry. It's ...

Starr Companies Appoints Head of International Insurance Operations

The New York-headquartered Starr Companies appointed industry veteran Ed Navarro as head of its international insurance operations. In his ...

Four New Hampshire Agencies Form Regional Alliance

Four insurance agencies in New Hampshire announced the formation of a new partnership called Northern United Agents Alliance (NUAA). The ...

MBIA Reaches Settlement With Morgan Stanley Over Credit Default Swaps

Armonk, N.Y.-based bond insurer MBIA reached a settlement with Morgan Stanley over credit default swaps. Previously, Morgan Stanley had ...
Midwest

Liquidation of Minnesota-Based Insurance and Trust Company Underway

Minnesota is in the process of liquidating an Austin, Minn.-based insurance and trust company that regulators say has a long history of ...

Old National Insurance Completes Partnership with Gettings Reed Financial

Indiana-based Old National Insurance (ONI) has finalized a deal to acquire the employee benefits book of business from Gettings Reed ...

NTSB Focuses on Driver Texting in Missouri Crash

A texting pickup truck driver who caused a deadly highway pileup in Missouri last year has federal accident investigators taking a hard ...

Drug Tampering Cases Show Gaps in Nurse Regulation in Kansas

A nurse with a prior felony conviction for forging prescriptions dilutes morphine solutions for five Halstead, Kan., nursing home patients. ...

Experts: Little Oversight of Science Class Labs in Minnesota

A recent science demonstration that went bad in a Maple Grove, Minn., middle school has drawn attention to the fact that there's little ...
Southeast

South Carolina Police Say Woman Had Insurance on 4 Slain Family Members

A woman charged with killing four members of her family had $700,000 worth of life insurance policies taken out on the victims, a detective ...

Employers Offers 5% Workers' Comp Discount for Florida Businesses

Some small businesses in Florida will see an automatic 5 percent discount on their workers' compensation policies through a new program ...

Lack of Insurance Proof Jeopardizes Mississippi Trash Contract

A lack of proper insurance proof may force Metcalfe, Mississippi to cut ties with its long-time trash collection provider. Griffin Waste ...

Zurich, Patriot National in Deal to Offer Workers’ Comp Captive Program in Florida

A Florida workers' compensation insurer has reached a deal with a California company to underwrite its workers' compensation policies ...

Alabama Judge Grants Probation to 4 in Oil Spill Claims Fraud

Four people will spend five years on probation after being convicted of pocketing money from Gulf oil spill claims. The Press-Register ...

Beecher Carlson Names Conlon as New Miami Managing Director

Beecher Carlson has expanded its national healthcare team by hiring Eileen Conlon as a managing director. Conlon has more than 20 years of ...
South Central

Brand Joins IMA Benefits in Dallas

IMA Inc. has added Matt Brand as a business development executive for IMA Benefits in Dallas. Brand has extensive insurance industry ...

Corps Says It’s not to Blame for Katrina Flooding

Justice Department lawyers argued at trial on Dec. 12 that there is little evidence a shipping channel dug decades ago by the Army Corps of ...

Texas Work-Related Injuries, Illnesses Decrease Again in 2010

Private industry employers in Texas reported a 5.8 percent decrease in nonfatal occupational injuries and illnesses involving days away ...
Join Insurance Journal, Western Security Surplus and Markel Corporation as they work to help three children who lost their parents in a tragic accident. Click here for more information.
West

California AG Announces Creation of eCrime Unit

Attorney General Kamala D. Harris on Wednesday announced the creation of the eCrime Unit, staffed with Department of Justice attorneys and ...

Drivers Urged To Use Caution In Northern Arizona

The Arizona Department of Transportation says a stretch of State Route 260 east of Payson is closed between Star Valley and Heber due to ...

So. Cal Storm Leaves Behind Heavy Rain, 1 Death

A winter storm is heading out of Southern California after dumping an inch or more of rain in some areas and contributing to at least one ...
International

Munich Re Describes Climate Conference Results as ‘Disappointing’

From Munich Re's perspective, the recently concluded climate summit in Durban "yielded disappointing results that fail to reflect the world ...

Europe’s Austerity Zeal Risks Killing the Patient

Europe's "no pain no gain" attitude to solving its sovereign crisis risks exacerbating the bloc's problems, choking off the very growth ...

Regulatory Investigations Top Directors' List of Concerns: Willis/Overy Survey

The liability risks facing company directors and officers are intensifying in the wake of the economic crisis. At the head of the list are ...

Best Affirms West of England Ship Owners ‘A-’ Ratings; Outlook Negative

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A-' (Excellent) and the issuer credit rating of ...

Willis Launches Global Insurance Placement Tool

Willis has announced the global launch of its insurance placement system, WillPLACE. The online tool was designed to help the broker place ...

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Insurance Journal TV

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Swiss Re Chief Economist Analyzes Current Market Conditions

Swiss Re's chief economist Kurt Karl discusses the challenges the insurance industry faces,...
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Interesting Times in Medical Liability

The medical liability market continues to perform well even as the nation struggles to...

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New Discussions in the Forums

Security training traveling to Saudi Arabia (life, health)
Posted: Wed Dec 14 -- I have a security firm in Texas sending employees to Saudi Arabia for 6-8 weeks as instructors for a specific training contract. They want... tailor333
Agency Management System
Posted: Tue Dec 13 -- I have been reading this comment thread for a bit now...keep meaning to chime in and just keep forgetting! I agree with what many others... pita3333
How do you ask for a referral?
Posted: Tue Dec 13 -- Based on my own experience, I usually got referrals when I contact clients to tell them their policy has been issued. They are usually... sethm
High Value Personal Auto
Posted: Mon Dec 12 -- Fireman's Fund is also another company that can do stand alone auto for high value vehicles, coverage is great as well with a lot of... insgal2005

Reader Comments

The Next Big Thing in Insurance Coverage Is Here
Posted: Tue Dec 13 -- Chartis (AIG) ...reputation risk..... think about it and it is kind of funny. jtownagent
Travelers CEO Says His Company's Business Insurance Rates Up Over 5%
Posted: Wed Dec 7 -- They have to raise rates to pay Mr. Fishman's (the CEO) more than $20 million annual salary. The Other Point of View
$55K Settlement In Pepper Spraying Of California 7-Year-Old
Posted: Fri Dec 9 -- Well, you know how dangerous a seven-year-old can be when he's running wild with a dictionary in his hand! Big Mike In CA
NHL Says Brain Ailment Evidence Is Lacking
Posted: Fri Dec 9 -- NHL needs to take the lead here. No evidence? How about the 28 year old kid with the brain of an 85 year old alzheimer's patient? The only... MP
Graduated Driver Licensing Could Save 2,000 Lives, $13.6 Billion: Study
Posted: Wed Dec 7 -- I agree with what you say but the medical signoff should also include an eye examination including night vision. I am not in favor of... DES

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Program Directory, Vol. II - Volume Two of the Agent's Favorite Program Placement Resource
December 5, 2011

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