Thursday, January 19, 2012

Daily Headlines: Thursday, January 19, 2012

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Insurance Journal Daily Headlines
January 19, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Group Urges Obama to Address Flood Insurance in State of Union Address

A coalition of business and environmental groups is calling on President Obama to use his upcoming State of the Union address to urge ...

Healthcare Individual Mandate Too Weak to Matter, Aetna CEO Says

Wall Street's concern about the U.S. Supreme Court's looming decision on President Obama's healthcare overhaul is overblown because the ...

Mission Accomplished: Post-Military Job with a Purpose

One of the things Shane Crockett loved about being in the military was the sense of purpose he felt on the job every day, something he said ...

Analyst: BP to Agree to $20-25 Billion Gulf Oil Spill Settlement with Justice Dept.

BP is likely to agree to pay the U.S. Department of Justice $20-$25 billion to settle all charges around the Gulf of Mexico oil spill, ...

U.S. House Panel to Review Cruise Line Safety

Responding to the still-unfolding disaster of a capsized Italian cruise ship, a U.S. congressional committee launched an investigation on ...

What Would Online Piracy Bills SOPA and PIPA Do?

The House of Representative's Stop Online Piracy Act and the Senate's Preventing Real Online Threats to Economic Creativity and Theft of ...

EPIC Expands Coverage for Pizza Delivery Operators

EPIC Programs Group has expanded the coverages available for their newest program for pizza restaurants and delivery operators. The program ...

From MyNewMarkets.com Insurers Say Flexibility Needed to Keep Up with Green Tech Risks

It's almost impossible to go a day without hearing something about green technology. It's on the news and on television commercials and...
New from Insurance Journal Academy: The Real Effects of Granting Additional Insured Status - presented by author and expert Chris Boggs
East

Key Risk Expands to Pennsylvania, Opens Harrisburg Office

Key Risk, a workers' comp insurer and a member company of W. R. Berkley Corp., said it is expanding operations to Pennsylvania and is ...

Massachusetts AG Sees Foreclosure Deal With Banks Likely

The Massachusetts attorney general who sued five major banks over allegedly deceptive foreclosure practices says it's likely some states ...

Vermont Governor Unveils Next Step in Health Care Plans

Aides to Vermont Gov. Peter Shumlin have unveiled the next steps in his plan to move Vermont toward a single-payer health care system, and ...

N.J. Siblings Indicted for Auto Insurance Claims Fraud

Authorities in New Jersey announced last week that a Union City woman and her Jersey City brother were indicted for their alleged roles in ...

Penn. School District Pays $600K Settlement Over Harassment Claim

A central Pennsylvania school district has paid more than a half-million dollars to settle a student's lawsuit involving a teacher ...
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Midwest

South Dakota Deputy Who Pleaded Guilty to Insurance Fraud Resigns

A South Dakota deputy sheriff who pleaded guilty in an insurance fraud case has resigned. The Press & Dakotan newspaper reports that ...

Indiana City Getting New Earthquake Risk Maps

Government officials and Evansville residents soon will have access to a new set of maps detailing areas at greatest risk of damage from ...

Summit Re Adds Peterson to Executive Team

Summit Reinsurance Services Inc. (Summit Re), based in Fort Wayne, Ind., has added Vice President and Lead Reinsurance Underwriter Shaun ...

Carlson Appointed Ohio Workers’ Comp Bureau Chief Actuarial Officer

Christopher Carlson has been appointed as chief actuarial officer of the Ohio Bureau of Workers' Compensation (BWC). Carlson will be ...
Southeast

Highway Deaths in Tennessee Fall Below 1,000

Tennessee's highway deaths in 2011 stayed below 1,000 for just the third time in 48 years. Preliminary figures released by the Tennessee ...

Klein Joins Normandy Harbor Insurance in Florida

Steven Klein has joined Normandy Harbor Insurance Co. as a director of loss control. Klein has 15-years of experience in the industry with ...

Sutter Joins Georgia’s TBM Agency

Preston Sutter has joined Atlanta insurance agency Tanner, Ballew and Maloof Inc. as an account executive. He will be involved with ...
South Central

Texas School Bus Crash Sends 32 to Hospital

A tractor-trailer clipped a school bus full of students on Jan. 17, flipping the bus onto its side and sending 32 people - 29 of them ...

Oklahoma’s GHS Property and Casualty Insurance Co. Ratings Downgraded

A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to "bbb+" from "a-" ...

Texas-Based Tile Manufacturer Fined $318K for Safety Violations

Federal officials have cited a Sunnyvale, Texas-based tile manufacturer for safety violations and proposed $318,000 in penalties. The U.S. ...

Houston Man Pleads Guilty to Hiding Payroll from Texas Mutual

Texas Mutual Insurance Co. reported Marvin Solano of Houston has pleaded guilty to workers' compensation fraud-related charges. A Travis ...

Damaging Citrus Plant Disease Confirmed in Texas

State agriculture officials say a destructive citrus plant disease that has wiped out crops in Florida has been confirmed in Texas. The ...
West

Western Insurance Forms On Point Risk Solutions in Southern California

San Diego, Calif.-based Western Insurance Holdings Inc., a property/casualty holding company, has formed On Point Risk Solutions. On Point ...

Ventura Partners Acquires Barlocker, Forms Coastal States

Ventura Partners BHR, LP which has acquired the assets from Barlocker Insurance Services of Ventura, Calif. Terms of the acquisition were ...

Freight Train Hits Semi on Montana Hi-Line

A freight train with its whistle blowing derailed Tuesday in northeastern Montana after colliding with a semitrailer that had pulled across ...

California School Reopens After Arson Fire

A San Diego, Calif. elementary school reopened Wednesday, two days after an arson fire that caused $600,000 in damage. The blaze shortly ...

California Woman Pleads Guilty To Killing 4 in DUI Crash

A woman who killed four people in a drunken crash near a San Diego County casino has pleaded guilty and agreed to spend 18 years in prison. ...

Google Captive in Hawaii on Track

Web search giant Google Inc. has been granted tentative approval from the Department of Labor to form a captive insurance company in Hawaii ...
International

News Corp. Admits Guilt, Settles Hacking Claims

The British newspaper arm of Rupert Murdoch's News Corp. looks set to settle at great expense a string of legal claims after admitting ...

Navy Actions Reduce Somali Pirate Hijackings: Maritime Bureau

Pre-emptive strikes by naval forces, the deployment of private armed guards and protective measures by ships helped to almost halve the ...

Ship Disaster Unlikely to Prompt Quick Safety Changes

The cruise ship disaster off Italy's coast is drawing fresh scrutiny to the gaps in international safety rules and standards - yet there ...

Cavanagh Appointed Willis Re CEO

Willis Group Holdings announced the appointment of John Cavanagh as CEO Willis Re, the reinsurance broking arm of the Willis Group, ...

S&P Follows up on Euro Zone Rating Actions

Standard & Poor's Ratings Services has followed up on the rating actions it announced in December concerning a number of Europe's ...

PartnerRe Estimates Thai Flood Losses at $120 Million

Bermuda-based PartnerRe Ltd. announced that it "expects to record a charge of approximately $120 million, pre-tax and net of retrocession ...

AXIS Estimates Thai Flood Losses at $48 Million; Updates 2011 Loss Estimates

Bermuda-based AXIS Capital Holdings Limited announced that the net financial impact of the severe flooding in Thailand on the Company's ...

Alterra Receives Approval to for Local Reinsurance Company in Brazil

Bermuda-based Alterra Capital Holdings Limited announced that the Brazilian insurance and reinsurance regulator, Superintendencia de ...
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New Discussions in the Forums

Farmers - your opinion
Posted: Thu Jan 19 -- Lonestar is 100% accurate in his assessment of the "opportunity" with Farmers. Sure, there are successful agents and new hires can make it.... sacman
The transition from underwriter to producer...
Posted: Wed Jan 18 -- Thanks to both of the replies I've gotten so far. I'm really interested in the possibility of going to the other side but not sure if I want... chi804
SOCAL Brush
Posted: Wed Jan 18 -- Anyone know of standard carriers that wil write in CA Brush line? Travelers, Hartford, Fidelity have all said no. Value is $1.1. I know... JAM
Workers comp for janitorial services
Posted: Wed Jan 18 -- You can try First Comp-Markel if they have less than 20k payroll. If over 20k Tower has some decent rates for 9008 new venture guys. EricCBIAIns
Study tips for the California Life Agent Exam
Posted: Tue Jan 17 -- How? hawnbiz
My CPCU journey - almost finished.....
Posted: Tue Jan 17 -- Thanks KD, I may consider submitting my story when the time comes. I have an update - I'm now just one class away from being done. I took... bjwestner
Tracking Producer Comission
Posted: Tue Jan 17 -- JAM, If tracking these commissions is close to a full-time job, then as Island Girl Agent mentioned, it is time to look at an agency... JasonBHBCo
Work Comp (CA) - 8015 Furniture - Wholesale with losses
Posted: Sat Jan 14 -- Chartis is a good start. Also First comp might look at it. JAM

Reader Comments

2-Year Term for Texting Driver in Fatal Oregon Crash
Posted: Fri Jan 13 -- Another reason our legal system sucks. Getting busted with weed draws a longer sentence. This jackass showed total disregard for life when... Jester
Murderer, Fake FBI Agent, Amateur Arsonist Enter Insurance Fraud Hall of Shame
Posted: Tue Jan 17 -- Some of these are unbelievable for their stupidity. I can't believe the one on the $163 Million scam of Medicare and they get only 3 years... Amazed
Judge Allows Suit Alleging GE Misled Investors
Posted: Fri Jan 13 -- Why am I not surprised about this? Jeffrey Immelt is the poster child for corporate corruption. GE Capital received a lot of TARP funds when... Amazed
Illinois Officials Report Drop in Tollway Usage After Fee Hike
Posted: Thu Jan 12 -- It's a crime that they hike the prices up almost double. That's the state of Illinois for you! Crooks! Chris
Florida Workers' Compensation Rate Hike Irks Businesses
Posted: Tue Jan 17 -- If you own a business in Florida, you realize that workers comp is very hard to buy. When there is a legitimate reason for an increase that... earlybird

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