Thursday, January 5, 2012

Daily Headlines: Thursday, January 5, 2012

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Insurance Journal Daily Headlines
January 5, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Aging Workforce May Not Be So Bad for Workers’ Compensation, Says NCCI

The aging workforce may not have the negative impact on loss costs that workers' compensation insurers have feared. New research from the ...

Insurance Veterans’ Forecasts for 2012

Now that the year 2011 is behind us, let's take a look at what might be ahead. Insurance Journal spoke with leading industry professionals ...

President Obama Signs Pipeline Safety, Airport Security Bills

President Barack Obama has signed legislation to toughen oil and gas pipeline regulations and another to ease airport security procedures ...

TechAssure Launches Website for IT Coverage

Members of TechAssure have created a website to offer fast quotes for IT-related businesses looking for coverage with CoverITfast. The ...
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East

MedPro Completes Acquisition of New Jersey-based Princeton Insurance

Medical Protective Co. (MedPro), a medical professional liability insurance unit of Berkshire Hathaway, announced this week the completion ...

Allstate Files $1.1M Fraud Case Against N.Y. Chiropractor Businesses

Allstate Insurance is seeking to recover more than $1.1 million from 16 New York-area defendants. According to its federal complaint filed ...

Connecticut Storm Panel to Release Recommendations

The panel formed by Connecticut Gov. Dannel P. Malloy to review the preparations and responses by the state, utilities and others to the ...

Two N.Y. Port Authority Retirees Sue Over Revoked Lifetime Toll Passes

Two retired Port Authority of New York and New Jersey police officers who became lawyers have filed lawsuits because the agency revoked ...

Lockton Affinity Appoints Senior Vice President in Washington, D.C.

Lockton Affinity, an insurance program management division of brokerage firm Lockton Companies, appointed Sara Payne as senior vice ...
Midwest

Wagner Named Acting Director of Illinois Insurance Department

Gov. Pat Quinn has appointed a new acting director of the Illinois Department of Insurance. Robert Wagner has been with the department 11 ...

Recession Brought Slow Growth in Michigan Workers' Comp Costs Per Claim

Workers' compensation claim costs have grown slowly in Michigan as a result of the recession, a new study says. The study, "CompScope ...

State Auto Enters Quota Share Agreement for Homeowners Business

State Auto Financial Corp., based in Columbus, Ohio, announced that the State Auto Group has entered into a quota share reinsurance ...
Southeast

Judge Tosses $322M Mississippi Asbestos Lawsuit Verdict

A Mississippi judge has thrown out a $322 million lawsuit verdict that had been hailed as the largest asbestos award for a single plaintiff ...

Tennessee Traffic Fatalities at Lowest Level in 49 Years

Tennessee traffic fatalities declined sharply this year, reaching their lowest figure in 49 years. So far in 2011, 926 people have died in ...
South Central

Oklahoma Insurance Commissioner Disappointed in Denial of MLR Waiver Request

Oklahoma's top insurance regulator believes the medical insurance market is headed for "disruption" as a result of the medical loss ...

La Nina to Linger to Spring

La Nina, the weather phenomenon widely blamed for withering drought in the southwestern United States and South America, may last longer ...

SEC Sues Texas Life Settlements Firm, Alleges Deception

Federal securities regulators filed suit against a Texas-based provider of so-called "life settlements," accusing it and three top ...
West

Video FeatureWestern Insurance Agents Roundtable: In Uncertain Economy, Change Is Certain

The economy, the promised-land of a hard insurance market and the need to master technologies dominated discussion at the first annual ...

Western Insurance Agents Roundtable Discussion Highlights

Rancho Cordova, Calif.-based Western Insurance Agents Association (WIAA) Education & Research Foundation, a nonprofit corporation ...

Lawsuits Filed in Las Vegas Over Buttocks Surgery Death

Wrongful death lawsuits have been filed in Nevada state court against a Colombian couple convicted of causing a 42-year-old Las Vegas ...

2011 Was Busy Year for Firefighters in New Mexico

New Mexico may have more snow on the ground as it starts the new year, but much of the state remains in drought and fire officials are ...

AIA in Washington Acquired by Hub

The assets of Pullman, Wash.-based Associated Independent Agencies Inc. (AIA) have been acquired by Headquartered in Chicago, Ill.-based ...

Willis Names Richardson Regional Partner In Northern California

Willis North America has named Jason Richardson as Regional Partner of Northern California. The appointment is effective immediately. ...

California Based Builders & Tradesmen's Insurance Purchased by AmTrust

Rocklin, Calif.-based Builders & Tradesmen's Insurance Services Inc. (BTIS) has been purchased by AmTrust Financial Services Inc. BTIS ...

Schafer Named Deputy Commissioner in Montana

Commissioner of Securities and Insurance Monica J. Lindeen has appointed Adam J. Schafer as her deputy commissioner and chief of staff. ...

Wyoming Officials Say Mandatory Drunk Driving Law Gaining Acceptance

After a bit of a rocky start, law enforcement officials and prosecutors around the state say they're now running into few problems with ...
International

Windstorm Ulli is Latest to Batter Northwest Europe; AIR Analysis

Catastrophe modeling firm AIR Worldwide's report on Windstorm Ulli notes that it is "passing through Scandinavia and is expected to ...

Ecuador Plaintiffs to Seek Damages from Chevron Abroad

Ecuadorean plaintiffs who won an $18 billion environmental case against Chevron Corp will pursue legal action against the company overseas ...

IAG Updates Claims Estimates for Victoria Storms, NZ Quakes

The Insurance Australia Group has advised that its Australia Direct and CGU businesses have, "received approximately 20,000 claims ...

Marsh Completes Acquisition of Alexander Forbes' Brokerage Business

Marsh, a wholly-owned subsidiary of Marsh & McLennan Companies announced that it has completed its previously agreed acquisition of the ...

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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

Do you purchase Damage Waiver when renting a car?
Posted: Thu Jan 5 -- itzawlgud, you are correct, and no one is disputing this type of claim. What I was referring to was the types of claims that are not... lonestar
Acord Forms: Difference between 90 and 290
Posted: Thu Jan 5 -- Hi - Here's a link to an article from the ACORD website that explains the reasons for stand-alone and sectional ACORD forms and the... MarkACORD
The transition from underwriter to producer...
Posted: Wed Jan 4 -- Understanding insurance is not the hardest part of being a new producer. Writing new accounts is. Many older producers sit on large books... marty202
My CPCU journey - almost finished.....
Posted: Wed Jan 4 -- Thank you for sharing your CPCU journey. I work for The Institutes and look forward to meeting you at the 2012 CPCU conferment in DC! Each... KD_Institutes
LBPS, Seterus, QBE, IBM-LBPS
Posted: Tue Jan 3 -- Good morning and Happy New Year. Thanks for the reply and input. We have several run ins with them daily due to the amount of Homeowner... CIScommercial
CertsNow 24/7 or CSR24
Posted: Mon Jan 2 -- I have used CSR24 for two years and I could never leave. I have several large trucking accounts and condo association managers that love it.... volstrike3
Adding Addtional Insureds
Posted: Thu Dec 29 -- Listen to the advice given below. NEVER request a change to a policy without specific instructions from the policyholder... Temblor

Reader Comments

Settlement Reached in Elly Mae Clampett Barbie Doll Suit
Posted: Fri Dec 30 -- CBS and Mattel may own the rights to the character, but they don't own the rights to Douglas' appearance. Stupid laywers... Jon
New Orleans Settles Claims Police Ignored Threats
Posted: Wed Jan 4 -- "To Protect and Serve"? Anejo
Obama to Name Cordray Consumer Bureau Head in Recess Appointment
Posted: Wed Jan 4 -- more big government Corrine Garrison
Former New Mexico Hospital Exec Sued Over Missing $3.2M
Posted: Thu Dec 29 -- Had he been bilking Medicare or Medicaid, he would never have been caught. Fraud and waste in Medicare/Medicaid costs the taxpayers over... Amazed

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