Friday, January 27, 2012

Daily Headlines: Friday, January 27, 2012

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Insurance Journal Daily Headlines
January 27, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Increase in U.S. Tort Costs Driven by Gulf Oil Spill: Study

The April 2010 Deepwater Horizon drilling rig explosion and resulting oil spill in the Gulf of Mexico were the key drivers in the 5.1 ...

Employment Bias Complaints Against Private Sector at All-Time High: EEOC

Employment discrimination complaints against private sector employers reached an all-time high in the most recent fiscal year, federal ...

BP Must Cover Some Transocean Gulf Oil Spill Damages

A federal judge on Thursday said BP Plc must indemnify Transocean Ltd. for some compensatory damage claims over the 2010 Gulf of Mexico oil ...

BP Fails to Shift $15 Billion Gulf Oil Spill Costs to Transocean

Oil giant BP has lost its attempt to shift over $15 billion of costs related to the Gulf of Mexico oil spill onto contractor Transocean , ...

People Lie More When Texting

Sending a text message leads people to lie more often than in other forms of communication, according to new research. David Xu, assistant ...

Find Out Who’s Worth What in the Independent Agency System

Time is running out to find out who's worth what in the independent agency system! Insurance Journal is once again polling insurance ...

Chubb Posts $452M in Q4 Net Profit

The Chubb Corporation reported fourth-quarter net income of $452 million, down 27 percent from $620 million net income reported during the ...

New AD&D Coverage Available for Riders and Grooms

The Professional Riders Organization will start offering their members accident and disability insurance through a new policy designed with ...

From MyNewMarkets.com Auto Insurers Find It Better to Forgive Than Lose Business

When insureds suffer a loss in most of the insurance market, they expect their rates to go up. However, insureds' expectations are changing...
Are you an independent insurance agent or broker? Take IJ's 2012 Agency Salary Survey today and receive an advance copy of the story and the survey results! Click here for more information.
East

Safety Groups Say Teen Traffic Deaths Rising in Virginia

Safety groups are urging teenage drivers in Virginia to wear seat belts and slow down following a sharp increase in fatal wrecks. ...

U.S. Taxpayers Still Owed $132.9B From Bailout

A government watchdog says U.S. taxpayers are still owed $132.9 billion that companies haven't repaid from the financial bailout, and some ...

Ground Zero Building in New York Struggles to Find Tenants

Planners say an 80-story skyscraper under construction at ground zero may have to stop at seven stories unless the developer can line up ...

Union Mutual of Vermont Companies Appoints VP of Underwriting

Union Mutual of Vermont Companies has appointed Robert Glass as the vice president of underwriting. Glass comes to Union Mutual with 24 ...

Penn.-based Glatfelter Appoints President of Healthcare Practice

Glatfelter Program Managers, a business unit dedicated to Glatfelter Insurance Group's program business, appointed Bruce Williams as ...
Download Now: New from Insurance Journal Academy: The Real Effects of Granting Additional Insured Status - presented by author and expert Chris Boggs
Midwest

Kansas Farmers $1B in Insurance Claim After Drought

Kansas farmers have claimed nearly $1 billion in insurance to offset crop losses caused by the lingering drought. The federal government ...

3 New Workers' Comp Arbitrators Appointed in Illinois

Illinois Gov. Pat Quinn has appointed three more arbitrators for workers' compensation system disputes. William Gallagher has 35 years of ...

Accident Fund Insurance Names Cambridge Underwriters Agency of the Year

Lansing, Mich.-based workers' compensation insurer, Accident Fund Insurance Co. of America, has selected Cambridge Underwriters Ltd. of ...
Southeast

Florida Lawmakers Reject Bad-Faith Reform Bill

Business groups in Florida saw their efforts to reform the state's bad-faith law end suddenly for the year after a legislative committee ...

Judges Weigh HIV-Positive Man’s Job Bias Claim Against Atlanta Police

A panel of federal judges appeared skeptical Wednesday of the Atlanta police department's decision to reject a job application from an ...

Weather Service Documents 10 Tornadoes in Alabama

The National Weather Service has now documented paths of destruction from at least 10 tornadoes in the outbreak of storms across central ...

Tennessee’s Appalachian Underwriters Adds Three Brokers

Appalachian Underwriters has added three brokers to its property and professional practice group. Shane Holden has 20 years of insurance ...
New from Insurance Journal Academy: The Real Effects of Granting Additional Insured Status - presented by author and expert Chris Boggs
South Central

Louisiana State Police Bust Staged Crash Ring

Louisiana State Police have arrested four people for allegedly staging traffic accidents in Ouachita Parish. Detectives tell The News-Star ...

Oklahoma Company Sued Over Accident That Hurt Teens

The parents of two teenagers who were severely injured in a grain elevator accident in Oklahoma have filed negligence lawsuits against the ...

Severe Storms Drench Texas, at Least 3 Tornadoes Reported

Buckets of rain and powerful winds that likely spawned several tornadoes swept across Texas on Jan. 25, forcing drivers to abandon cars on ...
West

Industry Report Card: California Insurance Commissioner Dave Jones

Insurance Commissioner Dave Jones marked his first full year in office recently by looking back on his and the California Department of ...

Insurance Marketing New Basics: Go Mobile

Be careful if you ask Michael Jans, president of Bend, Ore.-based Agency Revolution, about marketing. He may throw the Yellow Pages at you. ...

California to Vote on New ‘Clean Car’ Regulations

California, whose greenhouse gas emissions standards lead the U.S., is poised to vote on pushing them further. The new rules, if approved, ...

Honolulu Rail Project Legal Bills Top $1.87M

Legal bills for Honolulu's rail project have totaled more than $1.87 million with seven law firms hired. The $5.27 billion, 20-mile rail ...

Disaster Loan Deadline Nears For November Nevada Fire

The deadline is nearing for Nevada residents and businesses affected by November's brush fire in Reno to apply for Small Business ...

Zambrana Named Assistance Vice President of Atlas in Southern California

Stephanie Zambrana has been named assistant vice president and controller of Atlas General Insurance Services, a workers' compensation ...
International

Costa Cruises Offers Settlements to Passengers

Costa Cruises has offered to pay 11,000 euros ($14,500) in compensation to each of the more than 3,000 passengers aboard the ship that ...

Japan’s Stricken Nuclear Operator to Get $13 Billion Bailout

Japan is set to launch a $13 billion bailout of the owner of its stricken Fukushima nuclear power plant after the utility dropped ...

Kaufman Financial Acquires London’s Chesterfield Group, Texas MGA

The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has purchased ...

AIG Thinking about Buying Back More of AIA

American International Group Chairman Steve Miller said on Thursday the bailed-out insurance company may eventually want to buy a life ...

S&P: Excess Capital, Strong ERM Give Reinsurers 2011 Cat Loss Cushion

Standard & Poor's Ratings Services announced that it is "maintaining its stable outlook on the global reinsurance sector despite the ...

Ratings Roundup: Instituto Nacional, Malaysian Re

A.M. Best Co. has assigned a financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" to Costa Rica's Instituto ...

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New Discussions in the Forums

How do you ask for a referral?
Posted: Fri Jan 27 -- Another way is to send an emai (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd
Ally Insurance Network
Posted: Thu Jan 26 -- Anyone have experience or thoughts about this group? It appears like some type of cluster of MGA but never heard of them.... broberts1963
Virginia Surety Writer in CA
Posted: Thu Jan 26 -- I need to find a way to get to Virginia Surety Company in CA Gail
SOCAL Brush
Posted: Wed Jan 25 -- My suggestion is to move on. When you have prospects with brush issues in California and Travelers and Hartford (two of the more liberal... d's insurance store
How have you Benefited from your Cluster Membership?
Posted: Wed Jan 25 -- Love, LOVE, SIAA. They were a God send when setting up my IA after 17 years with FIG. Helped me determine what carriers were competitive in... sacman

Reader Comments

Lawyer Hits Jailing of Amish Men in Kentucky Over Buggies
Posted: Mon Jan 23 -- This isn't just an "Amish thing", it has to do with safety on the roadway..PUBLIC roadways. It's fine if the Amish want to put *their*... Susan
Mississippi Supreme Court to Hear Grocery Store Parking Lot Beating
Posted: Mon Jan 23 -- INSANITY prevails. Come on, an armed guard in the parking lot? What a ridiculous presumption of safety. Shame on the jury of me, women and... reality bites
Mass. AG Calls Proposed Homeowners Premium Hike 'Illegally Excessive'
Posted: Wed Jan 25 -- I think if Ms Coakley will personally guarantee that there will not be hurricane damage to the extent assumed in the "undisclosed models"... Observer
New Jersey High Court Clears County in Bicyclist's Death
Posted: Mon Jan 23 -- Sanity prevails! Seriously, a 1.5" deep hole? Tragic consequences indeed, but hardly an unnegotiable road hazard. Had it been a 1.5" bump,... reality bites
Workers' Compensation Turn a Profit? Fahgettaboudit!
Posted: Tue Jan 24 -- NCCI has been messing around with this for he past two years in their annual updates state-by-state. They won't come out and say,"Hey,... NG

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January 23, 2012

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