Friday, February 17, 2012

Daily Headlines: Friday, February 17, 2012

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Insurance Journal Daily Headlines
February 17, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

P/C Industry Disputes Consumer Group’s Claims It’s Overcapitalized, Avoiding Risk

Traditionally risk-takers, property/casualty insurance companies have become more like risk-avoiders when it comes to weather-related ...

U.S. Seeks Ways to Reduce Excessive Medical Testing

A leading group of U.S. doctors is trying to tackle the costly problem of excessive medical testing, hoping to avoid more government ...

Citigroup Mortgage Insurance Whistleblower: ‘I Have No Regrets’

It wasn't Sherry Hunt's original intent to go public on the shoddy quality control at a mortgage unit at Citigroup Inc., her employer since ...

Obama Budget Bolsters Intellectual Property Enforcement

The Obama administration has proposed hiring more prosecutors to pursue intellectual property crimes in the new budget as the entertainment ...

Five Star Healthcare Adds Managed Care Coverage

Five Star Healthcare, a division of Crump Insurance Services, has added an insurance facility to provide coverage for managed care service ...

Brownyard Launches Pest Control E&O Coverage

Brownyard Group has introduced errors and omissions (E&O) coverage for its PCOpro pest control program. The new coverage provides ...

Wells Fargo Restructures Into 7 Regional Insurance Operations

Wells Fargo Insurance - part of Wells Fargo & Co. - announced a new regional structure for its insurance brokerage and consulting ...

From MyNewMarkets.com For Boat Insurers, Summer Starts in February

For boat owners and prospective boat owners, summer doesn't start in June. It starts much earlier than that. In many cases, it starts in...
East

Mass.-based Enservio Acquires Insurers World

Enservio, a Needham, Mass.-based provider of property insurance analytics, affinity marketing and claims solutions, is acquiring Insurers ...

Penn State Countersues PMA Over Coverage of Sandusky Lawsuit

Penn State has filed a counter-suit against its primary general liability insurer, Pennsylvania Manufacturers' Association (PMA) Insurance ...

Vermont Officials Will Choose Among 3 Health Packages

A top Vermont health official says the administration of Gov. Peter Shumlin is zeroing in on what sort of benefit package to offer in a new ...

Penn.-based Keystone Insurers Group Announces Promotion

Keystone Insurers Group, a franchisor of insurance agencies headquartered in Northumberland, Penn., promoted industry veteran Barbara ...
Midwest

Flood Outlook Favorable for Red River Residents

The flood outlook for the Red River in eastern North Dakota is focusing on a word that hasn't been used much by the National Weather ...

$20M for Detroit Demolitions Remains Unused

A published report says Detroit, Mich., has $20 million intended to demolish burned-out dwellings that's sitting unused. The Detroit Free ...

Missouri Man Sentenced to 7 Years for Office Complex Arson

A judge gave the maximum sentence possible to a man who admitted to setting fire to an office complex in Cape Girardeau, Mo. ...

Former Missouri Insurance Regulator to Lead Health Office

A former director of Missouri's insurance department has been named acting director of the Kansas City regional office of U.S. Department ...
Southeast

4 Executives Found Not Guilty in Florida Hurricane Fund Fraud Case

Four insurance executives of a now defunct Florida property insurer have been found not guilty of defrauding the state's reinsurance ...

Kentucky Lawmaker Wants Whistleblower Law to Combat Fraud

Kentucky Speaker of the House Greg Stumbo said he will file legislation to give whistleblowers strong financial incentive to step forward ...

Georgia Disaster Training Site Replicates New Orleans’ 9th Ward

Work is under way on what might be one of the most unique construction projects ever done in Middle Georgia. For years, the whisper of the ...

Electric Cigarette Explodes in Florida Man’s Mouth

A man trying to kick the smoking habit was puffing on an electronic cigarette when a faulty battery caused it to explode in his mouth, ...

Alabama Governor Wants 1 Year Tax Holiday for Storm Supplies

Alabama Gov. Robert Bentley has proposed a once-a-year sales tax holiday on weather radios, flashlights, generators and other supplies ...
South Central

Higginbotham Appoints Shell to Lead Transportation Insurance Unit

Texas-based independent insurance and financial service firm, Higginbotham, has appointed commercial insurance broker Jack Shell to develop ...

Arkansas Supreme Court Hears Nursing Home Liability Case

Attorneys for an Arkansas nursing home and the man who runs it say they deserve a new trial in a case in which a jury ordered the nursing ...

Last Katrina FEMA Trailer Leaves New Orleans

The last of the once-ubiquitous FEMA trailers has been removed from New Orleans more than six years after floodwalls and levees broke ...

Oklahoma House Approves Firefighter Pension Reforms

A measure approved by the Oklahoma House of Representatives would stabilize the state's firefighter pension system by, among other ...
West

Nevada Approves Regulations For Self-Driving Cars

Nevada is becoming the first of the U.S. states to regulate self-driving vehicles on its roadways. The state's legislative commission on ...

Passenger in Deadly Montana Bus Crash Files Lawsuit

A passenger in a western Montana bus crash that left two people dead and 32 injured filed a lawsuit Tuesday in state court accusing Rimrock ...

Drilling Mud Spills At Repsol Exploratory Well In Alaska

An exploratory well being drilled by a new company to Alaska's North Slope had an apparent blow-out Wednesday. No workers were injured nor ...

Family Of Murdered Inmate Sues Hawaii, Prison

The family of a Hawaii inmate stabbed to death at a private prison in Arizona sued the state of Hawaii and prison operator Corrections ...

1.5M Claim Says Probation Chief Assaulted Deputy In Northern California

A Northern California probation official been placed on paid leave after one of his deputies filed a $1.5 million claim saying he sexually ...

Creator of Consumer Watchdog Attack Site Says More Attacks to Come

The owner of a website that launched an attack last week against a consumer group that often does battle with the insurance industry is now ...

California Earthquake Authority to Pay Back Wages

The California Earthquake Authority, the state's quasi-private earthquake insurer, is planning to pay furlough back wages to current and ...

Heffernan Names Nam VP of Employee Benefits in Southern California

Walnut Creek, Calif.-based Heffernan Insurance Brokers has hired Jammie Y. Nam in its Orange County office as vice president of employee ...

Vertafore Promotes Craig to Senior VP Product Management; Adds Winterburn

Insurance industry software developer Vertafore has promoted Mark Craig to senior vice president of product management. Craig is ...
International

West Africa Waters Among Riskiest Routes for Shippers

The waters off West Africa's coast are now a constant danger for those shipping goods and crude oil in the region, analysts said the day ...

Fairfax Financial’s Quarterly Loss Widens on Cat Claims

Fairfax Financial Holdings, the property and casualty insurer run by investment guru Prem Watsa, said on Thursday that its fourth-quarter ...

Best Assigns ‘A-’ Ratings to Assurances Mutuelles de France

A.M. Best Europe - Rating Services Limited has assigned a financial strength rating of 'A-' (Excellent) and issuer credit rating of ...

Marsh Introduces Maritime Security Facility

Marsh has launched a new insurance facility to provide comprehensive insurance coverage for private maritime security companies. The broker ...

China’s Trademark System Baffles Foreign Firms

China's trademark system is a minefield of murky rules and opportunistic "trademark squatters" that even the world's biggest companies and ...

Cooper Gay Refocuses MGA on International Business

Lloyd's broker Cooper Gay & Co. Ltd. announced that it has rebranded its MGA platform, Oliva, as Globe Underwriting as part of its ...

Harris Joins Torus from Aviva as Group CFO

Global specialty insurer Torus announced that Tim Harris will be joining the company as Group Chief Financial Officer, subject to ...

Miller Names Cunningham, Wauchope for Political, War, Trade Credit Risks

The UK's Miller, a London-based specialist insurance and reinsurance broker, announced that it has appointed James Cunningham and Ewan ...

Best Places IPCRe, Validus Re Europe Ratings on Review-Developing

A.M. Best Co. has placed under review with developing implications the financial strength rating of 'A-' (Excellent) and issuer credit ...

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Chartis CEO Hancock on Fear, Regulation, Science and Expenses

Peter D. Hancock, CEO of Chartis, AIG's global property/casualty business, discussed the...
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Lobbyist Norwood Analyzes Consumer Watchdog Legislation

John Norwood is one of California's best known legislative advocates for the insurance and...

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New Discussions in the Forums

My CPCU journey - almost finished.....
Posted: Fri Feb 17 -- Update - Well, I guess my CPCU journey is done. I took my final exam (CPCU 557) yesterday afternoon. I originally had it scheduled for today... bjwestner
The transition from underwriter to producer...
Posted: Thu Feb 16 -- dm307799, Thanks for all of the great advice. As far as my motivators, yes, money is one but I'm more interested in building relationships... chi804
Personal Quake Insurance - CA
Posted: Thu Feb 16 -- The home on which I am arranging Quake insurance is value at $8,000,000. I'm told that the incumbent insurer is the Firemans Fund at a 22... mightyquinn
Partnership Questions
Posted: Thu Feb 16 -- Thanks. I now have been presented an opportunity to buy a book (which hardly ever happens around here). I'm waiting for the specifics on the... Taylyn
claims question
Posted: Thu Feb 16 -- I would think if you light a candle that causes a fire that you would most likely be liable for the damages that are caused. You have the... yoyowordup
Are Insurance Agents Employees or Independent Contractors?
Posted: Thu Feb 16 -- It is fairly easy to research IRS publications & info on this subject on the internet! the only thing I keep in mind though is that even the... William Graham
Ex-Real Estate Marketer Seeks Career Change into Insurance
Posted: Wed Feb 15 -- Whatever happened to Mark? Maybe he did the "other" math and realized that with the same amount of work, prospecting, follow-up, lead... jackwehoca
Adding Addtional Insureds
Posted: Wed Feb 15 -- This is one of my pet peeves. If the insured has leased a vehicle or property, then yes, there is a need for additional insured status. If... Island Girl Agent

Reader Comments

The Hartford's Biggest Stakeholder Wants to Split Up the Firm
Posted: Tue Feb 14 -- What a surprise from Goldman Sachs! A report that says if the company broke up it would be a great thing - for Goldman Sachs! Why does any... Bill
Parents Sue Park for $2.4 Million After Oregon Toddlers' Deaths
Posted: Mon Feb 13 -- Can't find online who owned the trailer. The parents still should have made sure they didn't put the kids in danger. Anejo
Obama Budget Seeks Higher Taxes on Big Business
Posted: Tue Feb 14 -- At least you acknowledge that you are a radical, TOPOV..it's good to know what you are. Say what you want about us Republicans. We at least... Liberalism is a Social Disease
Doctor in Ohio Pill Mill Case Sentenced to Life in Prison
Posted: Wed Feb 15 -- What arrogance! The trial was tough and he wants to go home. Poor baby. Anejo

Current Issue

Current Issue
Main Street America: Insuring America's Small Businesses & Their Owners; Errors & Omissions; Nonprofits, Social Services & Public Entities
February 6, 2012

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