Monday, February 27, 2012

Daily Headlines: Monday, February 27, 2012

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Insurance Journal Daily Headlines
February 27, 2012
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Today's Headlines

National

Forecasters Unsure What to Expect This Tornado Season

Tornado season is starting, but don't ask meteorologists how bad it will be this spring and summer. They don't know. They're having a hard ...

Insurance Highlights from Buffett’s 2011 Letter to Berkshire Shareholders

Warren E. Buffett thinks that among large insurance operations, those owned by his Berkshire Hathaway are the "best in the world." ...

Trial Date Set for Insurance Fraud with Ties to Frankel, Vatican

More than a decade after it was filed, a federal judge in Mississippi has set a tentative trial date in a lawsuit stemming from scams run ...

White House Internet Privacy Bill of Rights Met with Skepticism

The White House proposed last Thursday a "privacy bill of rights" that would give consumers more control over their data but relies heavily ...

BP Oil Spill Trial Delayed for Settlement Talks

The trial to decide who should pay for the 2010 Gulf of Mexico oil spill has been delayed by a week to allow BP Plc to try to cut a deal ...

Buffett Adds to Bullish U.S. Economic Recovery Signals

Anyone looking for more evidence of a strengthening U.S. economic recovery need only consider conglomerate Berkshire Hathaway, where ...

Ratings Roundup: McMillan-Warner, Republic, School Boards

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of 'A-' (Excellent) and issuer ...

From MyNewMarkets.com California Earthquake Authority Kicks Off Marketing Program for Agents

The business of selling earthquake insurance to homeowners in California may have just gotten a bit easier. The California Earthquake...
Sponsored by: Catlin. Meet our brokers. They have some interesting stories to tell. Click here for more information.
East

Maine AG Stands Behind Opposition to Fed Mandate

A group of 32 Democratic women legislators is urging Maine Attorney General William Schneider to remove his name from a letter to the Obama ...

FEMA Gives $19M to Help Rebuild Virginia High School

The Federal Emergency Management Agency has awarded $19 million to help rebuild Louisa County High School, which was damaged during the ...

Maine Wreath-Making Firm Awarded $1M in Lawsuit Against L.L. Bean

A Maine wreath-making company has won a nearly $1 million judgment in a legal dispute with L.L. Bean over the production of wreaths and ...

Conn.-based Wholesaler S.H. Smith & Co. Announces Promotions

S.H. Smith & Co. Inc., a wholesaler and managing general agent headquartered in Hartford, Conn., announced three promotions. Jeanine Loomis ...
Live webinar from Academy of Insurance: Myths, Lies and Legends Surrounding Kidnap and Ransom Coverage
Midwest

Ex-North Dakota Workers’ Comp Director Files Federal Appeal

A former North Dakota workers' compensation director has asked a federal judge to review his felony conviction for misspending state funds, ...

Report: Complaints Against Ohio Nurses Are on Rise

Misconduct complaints against Ohio nurses have skyrocketed in recent years, leading to a backlog of investigations for the state nursing ...

Fargo, North Dakota Police Make Record DUI Arrests in 2011

Fargo, N.D., police made a record 1,127 drunken driving arrests last year. Police Chief Keith Ternes says the 29 percent increase in DUI ...
Southeast

North Carolina Farm Bureau to Raise Homeowners' Rates, Drop Policies

North Carolina's third largest homeowners insurer is looking to reduce its exposure in the state by increasing rates and rolling back its ...

Florida Lawmakers Split on Workers' Comp Drug Dispensing; Rate Cut Possible

Florida lawmakers appear headed toward a stalemate over how to rein-in the cost of physician-dispensed workers' compensation prescription ...

Kentucky Screenings of Miners Highlights Risk of Drug Use

More than 1,500 coal miners have tested positive for drug use since Kentucky began screenings six years ago, a state attorney told ...

Alabama Judge Acquits Man in Australia Honeymoon Death

A judge on Thursday acquitted a man accused of drowning his newlywed wife during a honeymoon diving trip to Australia eight years ago, ...

West Virginia Judge OKs Settlement in Agent Orange Suit

A West Virginia judge has approved a settlement in a class-action lawsuit filed by residents who say that chemical manufacturer Monsanto ...
South Central

Lawyers for Citizens’ Customers Reject Settlement

A nearly $103 million offer by Louisiana's property insurer of last resort to settle claims disputes was rejected on Feb. 24 by lawyers ...

Oklahoma Panel Rejects Earthquake Insurance Notification Bill

An Oklahoma state representative said he is disappointed that a legislative panel rejected a bill aimed at informing consumers about ...

Louisiana Reports 4-Year Decline Vehicle Thefts

According to data from the FBI Uniform Crime Report, the rate of motor vehicles thefts in Louisiana decreased by 15.6 percent from 2009 to ...
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West

Insurer Sues Montana Over Asbestos Settlement

A Nebraska insurance company has filed a lawsuit against the state of Montana to recover $16 million that was used primarily to cover a ...

Judge Awards Iphone User $850 In Throttling Case

When AT&T started slowing down the data service for his iPhone, Matt Spaccarelli, an unemployed truck driver and student, took the ...

$1M Damage in Washington Propane Tank Explosion

The fire department estimates property damage at $1 million from a propane tank explosion during construction work at a water treatment ...

Apheta, O'Riordan Announce Strategic National Partnership

San Diego, Calif.-based O'Riordan and Associates, a strategic financial planning and insurance firm, announced it has merged with ...

Workplace Bullying Could Become Safety Violation in Hawaii

Bullying, abuse and verbal harassment in the workplace may cause employees physical and psychological harm. That's part of the rationale ...

Avalanche Danger in Rockies At High This Season

Business is lagging this year at the Boulder Outdoor Center in Colorado, where adventurers come to book and buy equipment for ski trips ...

Mom Sues UC Over Son’s Overdose at UC Berkeley

The mother of a University of California, Berkeley student who suffered severe brain damage after a drug overdose on campus is suing the UC ...
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International

Lloyds Bank’s Huge Loss Tied to Insurance Sales

U.K. high street lender Lloyds Banking Group on Friday posted a 2.8 billion pound ($4.4 billion) loss for 2011 after it set aside 3.2 ...

Allianz Posts $3.73 Bn Net Income; Hit by Cat Claims, Sovereign Debt, Banks

Catastrophe claims and write downs on investments in sovereign bonds and banks were behind the profit fall revealed by Allianz, Europe's ...

Ratings Roundup: PMG (Sony), National Grid, Tapiola

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of" A' (Excellent) and issuer ...
Sponsored Content

AmWINS Transportation Underwriters Receives MGA Appointment for 'A' XV Rated Carrier to Underwrite Long Haul Truckers

Burlington, NC, 02/24/12 - AmWINS Transportation Underwriters is proud to be one of just five MGAs appointed with this 'A' XV rated ...

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Insurance Journal TV

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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...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Facebook
Posted: Mon Feb 27 -- I can't stand the way the social sites have now been integrated into online searches. Looks like to be at the top Facebook and Google+ is... insurancedad
Should I accept Allied Appointment?
Posted: Mon Feb 27 -- I was looking into Allied to add to my agency. Thank you all for the great input. insurancedad
Identity Theft Insurance
Posted: Fri Feb 24 -- Looking for information on selling Identity Theft Insurance? Thanks! sunny
CA Electrical Contractor BOP/GL
Posted: Thu Feb 23 -- Looing for markets for an electrical contractor, al work is interior commercial nothing over 2 or 3 stories. no new construciton or... joey52
claims question
Posted: Thu Feb 23 -- Even though an insured's policy may exclude coverage under property or liability, the claimant can go to court (even small claims court) and... darnovak
My CPCU journey - almost finished.....
Posted: Sat Feb 18 -- Congratulations! I think the CPCU program is a good program. I got halfway through the program earlier in my career. For me. completing the... Robert742
Personal Quake Insurance - CA
Posted: Fri Feb 17 -- Firemans Fund will write quake on high value dwellings, so will Chartis/Lexington. Depending on where your risk is located, and the... LadyBroker

Reader Comments

'100-Year Storms' May Happen Every 3 to 20 Years: MIT-Princeton Research
Posted: Wed Feb 22 -- I'll bet JamesTR is the kind of guy who loves to listen to himself talk. Can you imagine having to sit anywhere near that gasbag at work? NoGWsince98
Pennsylvania Township, Schools Pay $63K to Banned Fan Mom
Posted: Fri Feb 24 -- It really should be mandatory that parents be given a tranquilizer before they are allowed to watch their kid play sports. Anejo
Pennsylvania Christian College Sues Over Birth Control Regs
Posted: Thu Feb 23 -- All IRC section 501(c)(3) organizations, including churches and religious organizations, must abide by certain rules: their net earnings... The Other Point of View
Oregon Jury Awards $25M In Smoker's Death
Posted: Tue Feb 21 -- Smokers know the danger of smoking. Awarding them millions of dollars is silly. I am a smoker and I KNOW the possibilities that go along... Sherry
Obama Budget Bolsters Intellectual Property Enforcement
Posted: Mon Feb 20 -- I will keep my God, Guns and Flag, you can keep the "Change" Anybody but Obama in 2012! Sam

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February 20, 2012

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