Thursday, January 12, 2012

Daily Headlines: Thursday, January 12, 2012

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Insurance Journal Daily Headlines
January 12, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Supreme Court Upholds Credit Card Arbitration Clauses

The U.S. Supreme Court ruled on Tuesday for Synovus Financial Corp. and CompuCredit Holdings Corp. and said credit card claims by consumers ...

Federal Reserve Paid Government $77 Billion in 2011

The Federal Reserve paid the federal government $76.9 billion in 2011, the second highest amount in history. The central bank earned the ...

6 Ways to Kill Innovation Without Even Trying

Why do some great ideas fail and others succeed? The unique innovations pioneered by someone like Apple CEO Steve Jobs may have less to do ...

Internet Begins New Chapter with .yournamehere Domains

A quiet Internet revolution begins on Thursday. Organizations can begin applying to name and run their own domains instead of entrusting ...

Agents Outline Real-Time Technology Priorities for Carriers

Insurance carriers' use of real-time tools is becoming a differentiator when independent agents choose where to place business, according ...

AAOIC Offers New Enhancements for Orthodontists

The American Association of Orthodontists Insurance Co. (AAOIC) has added five enhancements to its professional liability insurance plan ...

Five Star Expands Classes for Business Auto Program

Five Star Specialty Programs has announced a new market for the business auto program, which will provide additional coverage for more ...

National Beer Wholesalers Association Names BevCap as Program Manager

BevCap Management, LLC has been named the exclusive program manager for new insurance programs by the National Beer Wholesalers ...

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East

Maine Gov., Secretary, Push Youth Driver Safety

In the wake of a deadly weekend on Maine's highways for young motorists, Gov. Paul LePage and Secretary of State Charles Summers Jr. are ...

Penn.-based NSM Insurance Receives Capital Investment

NSM Insurance Group, an insurance program administrator, said it has received a capital investment from a private equity investment firm. ...

N.Y. Court: Worker Injured on Break Entitled to Workers’ Comp Benefits

A New York court has ruled that a worker taking a short break does not constitute an interruption of employment, thus a worker injured ...

LIG Marine Managers Opens Philadelphia Office

St. Petersburg, Fla.-based LIG Marine Managers is opening a new office in Philadelphia. The office will cover businesses from the states of ...

PSA Acquires Baltimore office of Edgewood Partners Insurance Center

PSA Insurance & Financial Services acquired the Baltimore office of San Mateo, Calif.-based Edgewood Partners Insurance Center (EPIC), a ...

Digital Insurance Buys Va.-based Strategic Employee Benefits Services

Digital Insurance, an employee benefits agency in Atlanta, acquired Strategic Employee Benefits Services (SEBS) of Virginia. SEBS, which ...

N.J.-based Exceptional Risk Advisors Appoints Head of Sports Division

Exceptional Risk Advisors, a Lloyds' of London managing general underwriter in Mahwah, N.J., appointed Chris Lack to head up its sports ...

Report: N.Y. Regulators Examine Banks Over Force-Placed Home Insurance

New York financial regulators are reportedly investigating several major banks to find out whether they fraudulently steered homeowners ...

N.Y.-based U.S. RE Hires Guy Carpenter Exec as Senior Vice President

Global reinsurance broker U.S. RE Corp. appointed reinsurance veteran James Nelson as senior vice president. Nelson is a reinsurance ...

Philadelphia Insurance Announces Three Promotions

Philadelphia Insurance Companies announced three promotions: Sean Sweeney to president and chief operating officer; Robert O'Leary to ...
Midwest

Some Work Comp Claims in Michigan Must First Go to Mediation

Michigan workers' compensation insurance regulators report that due to recent statutory changes some contested workers' compensation ...

Illinois Officials Report Drop in Tollway Usage After Fee Hike

Illinois State Toll Highway Authority officials say the number of cars using the state's toll roads dipped by 4.5 percent since fees for ...

Bill to Make Highways Safer on Fast Track in Missouri Senate

Legislation is on a fast track in the Missouri Senate to make the state comply with federal standards for commercial truckers and drunken ...
Southeast

Florida Lawmakers Advance Brain Injury, Wrongly Imprisoned Claims Bills

A man who spent 27 years in prison for a murder he didn't commit and the brain-damaged and paralyzed victim of a crash with a speeding ...

Mississippi County Approves 7 More Flooded Home Buyouts

Jackson County supervisors have approved a payment of $500,949 to Island Winds Title Co. to close on seven homes. According to The ...

Report Calls for More Fire Safety Education in West Virginia

West Virginia suffers from one of the nation's worst fire-related death rates. That has officials calling for greater public education ...

Drunk Driving Arrests Increased in West Virginia in 2011

The director of the West Virginia Governor's Highway Safety Program says arrests for driving under the influence increased in the past ...

Ascension Insurance Acquires Third North Carolina Agency

Ascension Insurance is expanding in North Carolina with its third agency acquisition in the state in the past three years. Ascension's most ...
South Central

R-T Specialty Acquires Texas Insurance Wholesaler Maclean, Oddy & Associates

R-T Specialty LLC, the wholesale broker of Ryan Specialty Group LLC, has acquired Texas-based insurance wholesale firm Maclean, Oddy & ...

2 Tornados Confirmed in Houston Area From Storms

Forecasters say two tornados hit the Houston area during recent thunderstorms that flooded roads and knocked out power. The National ...

Oklahoma Charges Former Agent with Embezzlement, Unlawful Insurance Sales

The Oklahoma insurance regulators announced that a Tulsa area man has been charged unlawfully selling health insurance to Oklahoma ...
West

Direct-Link Acquires Southern California Firm Cumbre

Direct-Link Holding Group LLC has acquired Cumbre Insurance Services' commercial insurance division in Ontario, Calif. Cumbre Inc. ...

The Buckner Co. of Utah Hires Trujillo

The Buckner Co. has hired Russell Trujillo in their employee benefits department. Trujillo will work with employers to help them find ...
International

Australia’s QBE Slashes 2011 Forecast; Shares Dive

Australia's QBE Insurance Group said on Thursday its 2011 net profit would fall by as much as 50 percent after record catastrophe claims ...

Australia’s QBE Insurance Shares Halted; Balboa Concerns Cited

Shares in QBE Insurance Group, Australia's top insurer, were placed in a trading halt on Thursday ahead of the release of its preliminary ...

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New Discussions in the Forums

Looking to open my own agency
Posted: Wed Jan 11 -- If you're so busy servicing clients in your current capacity, then you may be licensed as a California broker, but you're really a CSR... d's insurance store
Farmers - your opinion
Posted: Wed Jan 11 -- Can anyone say, "PONZI"? OldIndyAgent
Tracking Producer Comission
Posted: Tue Jan 10 -- Island Girl Agent: we have a very comprehensive database for monitoring most aspects of the insurance process, although weak in producer... jackwehoca

Reader Comments

Lawsuits Filed in Las Vegas Over Buttocks Surgery Death
Posted: Thu Jan 5 -- Hmmmm...you make an appt for a surgery and go into a tile store back room? What right-minded person wouldn't turn around and walk right back... Ins Guy
N.J. Court Rules in Favor of Allstate in Agency Franchise Lawsuits
Posted: Sun Jan 8 -- Wait, company established business objectives are quotas by any other name. How can independent contractors be fired for not meeting quotas?... LadyLiberty
Insurer Sues Google in Alabama Over Unflattering Search Results
Posted: Fri Jan 6 -- So dumb...by suing Google you bring this negative attention public because of Google's profile. If they'd have just sued the websites for... George
Insurance Buyers' Choice: Bigger Premium or Bigger Risk
Posted: Fri Jan 6 -- We find that due to the economy, many of our business clients want to bottom line their coverage. Increasing deductibles on Property,... Amazed
Report: Liberty Mutual Failed in Bid to Buy Harleysville
Posted: Fri Jan 6 -- I would bet the policyholders of Harleysville I'll bet they would trade the A+ Rating of Nationwide for the $250m that supposedly was part... N.Newman

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