Monday, January 30, 2012

Daily Headlines: Monday, January 30, 2012

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Insurance Journal Daily Headlines
January 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Flood Damage in 2011 May Make 2012 Worse Along Mississippi River

Damage from last year's record spring floods could leave many people along the Mississippi River in even more danger this year, the Army ...

Lawyers Jump Into Cruise Ship Disaster Cases

Soon after Mitchell Proner, a New York personal-injury lawyer, heard about the capsizing of the Costa Concordia off the coast of Italy, he ...

Agency Compensation Expected to Rise in 2012: Ward Group

Contingent commission payouts to insurance agencies are estimated to be 12 percent higher in 2012 than 2011, a new study says. The study by ...

Peers as Passengers Studies Support Graduated Licenses for Teen Drivers

Two new studies support the efforts of states in imposing restrictions on teen driving. Teens who drive with peers as passengers have ...

Best Revises AIG and Subs Outlook to Stable; Affirms Ratings

A.M. Best Co. has revised the outlook to stable from negative and affirmed the issuer credit rating (ICR) of "bbb" of American ...

Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings

In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of 'A' (Excellent) and ...

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

N.J. Commissioner Considine to Leave Post, Will Be COO of MagnaCare

New Jersey Gov. Chris Christie announced this morning that Banking and Insurance Department Commissioner Tom Considine will leave his post ...

Chubb Says Commercial Renewal Rates Rose 6% in Q4, Up From 4% in Q3

Chubb Corporation said its commercial insurance renewal rates were up 6 percent in the 2011 fourth quarter, as the pace of renewal rate ...

New Jersey Residents Say Flood Buyout Programs Fall Short

State and federal programs offer homeowners in North Jersey's flood-ravaged areas a buyout. But the combination of red tape and limited ...
Midwest

Boron to Lead Illinois Department of Insurance

Illinois Gov. Pat Quinn has named a new top state insurance regulator. Andrew Boron has been appointed director of the Illinois Department ...

Businesses Oppose Proposed Ohio Fraud Legislation

Some Ohio businesses are opposing a bill backed by the attorney general that would create tougher penalties on fraud and give ...

Red River Valley Flood Risk Keeps Receding

The risk of significant flooding in the Red River Valley is down from recent years and even lower than last month's forecast due to the ...
Southeast

Mississippi Judge Weighs Government Immunity in Shooting Case

A Hinds County judge will decide if Mississippi governmental agencies are liable for the wounding of a bystander during a 2008 shooting. ...

Florida’s FCCI Names Executives for Texas, Maryland Expansion

FCCI Insurance Group has announced it is expanding its commercial insurance offerings into Maryland and Texas. The company has named ...

Georgia Jury Awards $2.3 Million in Kroger Customer’s Suit

A Gwinnett County, Georgia jury has awarded $2.3 million in damages after a judge determined that Kroger destroyed and manipulated key ...
South Central

Ex-BP Worker Files Whistleblower Suit Over Cleanup

A former BP employee has filed a whistleblower lawsuit against the company, claiming he was fired for airing concerns about the cleanup of ...

Federal Government Rejects Texas Insurance Waiver

The federal government has rejected a request by Texas to be excluded from a new law that limits how much health insurance companies can ...

Oklahoma Lawmakers File State Insurance Opt-Out Bill

Two Oklahoma lawmakers have filed legislation to increase the number of state employees who could opt out of state insurance coverage. The ...
West

Company Seeks Asbestos Liability Limit in Idaho

A bottle-cap maker weary of paying $700 million in asbestos claims has teamed with a conservative group in a state-by-state trudge to ...

Ex-Partners Cite Nevada Developer in Funds Lawsuit

Former business partners of Nevada developer and lobbyist Harvey Whittemore have sued him, claiming he misappropriated millions of dollars. ...

Drilling Rights Under Old Bomb Range Go For $137M

ConocoPhillips has tentatively agreed to pay Colorado $137 million for oil and gas underlying the old Lowry bombing range in Arapahoe ...

California Insurance Commissioner, Insurers Settle on Iran Investments

California Insurance Commissioner Dave Jones and a group of insurers have settled litigation over insurer investments in companies doing ...
International

China’s Premier Says Government Debt ‘Controllable’; Promises Insurance Reforms

China's Premier Wen Jiabao said the nation's government debt is at an "overall safe and controllable" level, that funding for key projects ...

More Than Ever, Businesses Must Think ‘What If’

A tumultuous 12 months that saw revolutions in the Middle East, a worsening debt crisis in Europe and a tsunami in Japan has set the tone ...

China Plans to Turn Shanghai into Global Money Center

China laid out more specific plans to turn Shanghai into a global financial center by 2020, listing a series of targets for the next three ...

Strong Quake Jolts Eastern Japan

A strong earthquake with a preliminary magnitude of 5.5 jolted eastern Japan on Saturday morning, but there were no immediate reports of ...

Swiss Re’s Chief Economist Sees Fed Actions Calming Debt Crisis

Swiss Re's Chief Economist, Kurt Karl, has predicted that the decision by the Federal Reserve to maintain the target fed funds rate at zero ...

Arctic Ice Melt Lifts Hopes for Russian Maritime Trade

When severe snowstorms prevented life-sustaining fuel supplies from reaching the frozen Alaskan town of Nome, U.S. officials turned to a ...

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New Discussions in the Forums

Farmers - your opinion
Posted: Sun Jan 29 -- Letter below written by a Farmers Home Office employee, taken from the United Farmers Agents Association website, UFAA. Original article as... lonestar
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

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
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
Florida Lawmakers Reject Bad-Faith Reform Bill
Posted: Fri Jan 27 -- This is a draconian solution in search of a problem, said Cunningham No Mr. Cunningham what it Draconian is the law as it stands.... TN
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

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Excess, Surplus & Specialty Markets Directory Vol. I
January 23, 2012

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