Monday, February 13, 2012

Daily Headlines: Monday, February 13, 2012

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Insurance Journal Daily Headlines
February 13, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Obama Budget Seeks Higher Taxes on Big Business

President Barack Obama's 2013 budget proposal, released on Monday, calls for raising hundreds of billions of dollars from U.S.-based global ...

February Offers Opportunities for Boat Insurers

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 ...

Starr Introduces Mentoring Program for Aviation Clients

Starr Companies has launched a safety manager mentoring program for its Starr Aviation customers. The program utilizes a certified safety ...

From MyNewMarkets.com Commercial Real Estate Risks Urged to Separate from Peers

Real estate property insurance rates, particularly for large organizations with catastrophe exposures, were up last year, according to...
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East

SEC, Ex-Bear Stearns Managers Settle

Two former Bear Stearns fund managers agreed to pay more than $1 million combined to resolve a U.S. Securities and Exchange Commission ...

Vermont Mulls Adoption of Health Insurance Exchange

Vermont lawmakers will decide this winter how their state will design a health insurance exchange. The federal Affordable Care Act requires ...

Pennsylvania Insurance Department to Liquidate First Sealord Surety

The Pennsylvania Insurance Department Commissioner Michael Consedine announced last week that the Commonwealth Court has approved the ...

Connecticut Unveils ‘Insurance Checkup’ Campaign for Consumers

Consumers know what their premium costs every month, but not everyone really knows exactly what their homeowner or renter policy covers. To ...

The Graham Company in Philadelphia Appoints Vice Chairman, COO

The Graham Company, one of the Mid-Atlantic region's largest insurance and employee benefits brokers, appointed Michael Mitchell as vice ...

Mass.-based PMC Insurance Appoints New England Territory Manager

PMC Insurance Group, a national workers' compensation insurance wholesaler, appointed Kate Alben as New England territory manager. Alben ...
New from Academy of Insurance: Builders Risk / Contractors Equipment
Midwest

Daly Merritt Insurance Opens New Office in Ann Arbor, Michigan

Daly Merritt Insurance, an insurance agency headquartered in Wyandotte, Mich., has opened a new office in Ann Arbor. Daly Merritt Insurance ...

Missouri House Approves Workplace Discrimination Bill

Despite several lawmakers voicing fears about reversing decades of hard-fought civil rights gains, the Missouri House approved a measure ...

Kansas Officials Establishing Disaster Relief Fund

Kansas legislators are modifying a proposal from Republican Gov. Sam Brownback's administration to establish a fund to cover the state's ...
Southeast

North Carolina Insurers Still Hoping for Medical Loss Ratio Waiver

The U.S. Department of Health and Human Services is going overtime as it decides whether to stick with federal standards that could mean ...

Florida Lawmakers Weigh Texting While Driving Ban

Joyce Concklin has 10 good reasons why every state should pass a ban on texting while driving: That's the number of bones she broke when a ...
South Central

Louisiana Citizens Offers to Settle Katrina-Rita Suit for $80M

Louisiana's property insurer of last resort has offered to settle a dispute over slow handling of hurricane claims from 2005 for up to $80 ...

Oklahoma Insurance Department Spokesman Resigns Over Offensive Email

The Oklahoma Insurance Department's spokesman said he resigned on Feb. 10 after sending an official email to hundreds of people containing ...

BancorpSouth Insurance Hires Texas Region Marketing Manager

BancorpSouth Insurance Services Inc. has added Larry D. Batie II as marketing manager for the Texas region. He previously served as account ...

Roach Howard Smith & Barton Creates Karen Farris Scholarship Fund

In recognition of her leadership as CEO and move to chairman of the board, Dallas-based independent insurance agency Roach Howard Smith ...

Ex-Legislator Hired as No. 2 at Louisiana Insurance Department

A former state lawmaker has landed a $150,000 a year job as the No. 2 official at the state Department of Insurance. Commissioner of ...
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West

Kulchin Ross Insurance Services Inc. Formed in Southern California

William Kulchin and Derek Ross have formed Kulchin Ross Insurance Services Inc., a new retail agency based in Tarzana, Calif. that provides ...

Lawsuit Seeks $8 Million in Murders by Oregon Sergeant

Relatives of two women killed by an off-duty Clackamas County, Ore., sheriff's sergeant are seeking $8 million in a lawsuit that alleges ...

Disaster Declaration for Vog Damage in Hawaii Renewed

Continuing vog has caused extensive damage to Big Island vegetable crops, like leafy greens, orchards, flowers and ranch grasses. In ...

Parents Sue Park for $2.4 Million After Oregon Toddlers’ Deaths

A fire that killed two toddlers is the subject of a Umatilla County lawsuit that alleges negligence on the parts of the Seattle-based ...

Herbal Sexual Enhancement Supplement Recalled

A Southern California firm is recalling an herbal female sexual enhancement supplement because it contains a drug not listed on the label. ...

Website Attacks Consumer Watchdog

A website attacking a consumer group that often does battle with the insurance industry was launched on Friday, setting off more sparks in ...

Poms Names Mahl SVP of Property & Casualty in Southern California

Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. has named Robert Mahl senior vice president of its ...
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International

China Author Sues for Defamation Over Ghostwriting Claims

Celebrity author Han Han has filed a defamation lawsuit in Shanghai against a writer who alleges some of Han's prolific works were penned ...

Building Toppled by New Zealand Quake Was Substandard

A six-story building that collapsed and killed 115 people in last year's New Zealand earthquake was made of weak columns and concrete and ...

Prudential Picks Merrill for Advisor on ING Asia Bid

Prudential Financial Inc , the No.2 U.S. life insurer, has hired Bank of America Merrill Lynch to advise on its possible bid for ING Groep ...

Earthquake Shakes Switzerland; No Damage Reported

The Swiss Seismological Service said a moderate earthquake shook Switzerland with the epicenter in the northcentral canton Zug and Lake ...

Best Analyzes Impact of Flood Losses on Thai Insurance Industry

A.M. Best Co. has released a briefing that provides updated estimates of insurers' losses from the Thailand floods. The overall industry ...
Insurance Journal Blogs

Even Good Advertising Concepts Can Get Old and Predictable

The game had just ended and the predictable strains of "When You Wish Upon a Star" began to play over the images of Eli Manning ...

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Insurance Journal TV

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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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How Insurance Distribution Is Changing

Retail and wholesale brokers face the challenge —and opportunity— of redefining their...

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New Discussions in the Forums

Are Insurance Agents Employees or Independent Contractors?
Posted: Sat Feb 11 -- They just tightened the rules here in CA as well. JAM
Ex-Real Estate Marketer Seeks Career Change into Insurance
Posted: Sat Feb 11 -- Stay away from the captives. Running an agency when you are new is a lot of work, I would try and get a job with a broker and build... JAM
Spray Paint Booth with Water Based Materials
Posted: Fri Feb 10 -- Aside from the clean up, remember that spray painting produces static electricity, fumes, vapors and other airborne residues that may escape... Master U/W'er
Farmers vs. Independent
Posted: Fri Feb 10 -- Not really surprising. Isn't P.H. somewhere in the Upper Management Mix over there? As an Illinois Agent, I had such high hopes with him... FFA
Retail to Wholesale???
Posted: Fri Feb 10 -- Thatinsguy - it has been several months since you initiated this forum so I am curious as to what decision you made (wholesale or retail)... mszleszinski
Should An Agency Specialize or have a Niche?
Posted: Fri Feb 10 -- I want to thank Agent Equity for posting this thread It brought out some great commentary and the articles cites were great. I have come... William Graham

Reader Comments

Chubb Sues Actress Marisa Tomei Over $129K Damage in NYC Apartment
Posted: Mon Feb 6 -- Marisa Tomei is quite possibly the hottest woman ever to walk the face of the Earth. She should be able to damage whatever she wants... Hillsborough agent
5 Big Banks, States Agree on $25 Billion Home Mortgage Deal
Posted: Fri Feb 10 -- The purchase of a home is an investment, like the purchase of a stock. There is no guarantee that there will be a positive return. It is... DAN
P/C Insurers' Combined Ratio for 2011 Estimated at 107.5%
Posted: Mon Feb 6 -- and yet agents can't correlate this and the need for increased pricing. 9 years of decreases at 5-10% each year and now have to explain to... large carrier
90 D.C. Workers Face Firing for Unemployment Fraud
Posted: Thu Feb 9 -- Help me here. How could the city not know they were paying people twice? I'm wondering if any of the fraudsters worked payroll or HR? Anyone... Anejo
8 States to Hold Earthquake Drills Today
Posted: Tue Feb 7 -- I once held an earthquake drill. Shook right out of my hands, though. Thought it was going to be like a jackhammer but boy was I wrong.... reality bites

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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