Thursday, February 2, 2012

Daily Headlines: Thursday, February 2, 2012

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Insurance Journal Daily Headlines
February 2, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Federal Insurance Office Says Overdue Regulation Report Still Weeks Away

The Treasury Department's Federal Insurance Office was expected to complete and send its highly anticipated report on modernization of ...

Super (Insurance) Coverage for the Super Bowl

They say it's a game, but it's really a lot more than that. For football fans, the Super Bowl is every holiday rolled into one, especially ...

Major Companies Keeping Cyber Attacks Secret from SEC, Investors: Report

At least a half-dozen major U.S. companies whose computers have been infiltrated by cyber criminals or international spies have not ...

Nuclear Accidents Pose Little Risk to U.S. Health, Say Regulators

The risk to public health from a severe nuclear power plant accident in the United States is "very small" because reactor operators should ...

Brokerage Schwab Hit with Complaint Over Client Lawsuit Waivers

Wall Street's own watchdog filed a complaint against Charles Schwab Corp. on Wednesday accusing the online brokerage of requiring customers ...

Allstate Doubles Q4 Profit

Allstate Corp. reported that its profit more than doubled in the fourth quarter thanks to lower catastrophe losses and improved homeowners ...

From MyNewMarkets.com Media Firms Could Face Insurance Woes in 2012

U.S. communications, media, and technology (CMT) companies can expect their insurance market conditions to further deteriorate in 2012,...
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East

Kodak Employee Sues Company Directors Over Stock

An Eastman Kodak employee filed a civil lawsuit against Kodak's board members and other fiduciaries of the photography companies' ...

Markel Reports $52.3M Q4 Income, Down 63% From One Year Ago

Markel Corporation reported $52.3 million for its 2011 fourth-quarter net income, down 62.8 percent from one year ago when the specialty ...

Diederich Healthcare Expands Med Mal Coverage to New Jersey

Diederich Healthcare has expanded its coverage area to include physicians practicing in New Jersey. The expansion offers additional ...

Pfizer Recalls 1M Birth Control Packs After Mixup

Pfizer Inc. is recalling 1 million packets of birth control pills because of a packaging error that could leave women with an inadequate ...
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Midwest

MJ Insurance Adds Two to Growing Employee Benefits Division

MJ Insurance, a property/casualty and employee benefits agency headquartered in Indianapolis, Ind., has hired Kimberly Balling as a client ...

Talk of ‘Tornado Tourism’ Stirs Anger in Joplin, Missouri

Eight months after a tornado laid waste to much of this city, Joplin, Mo., is wrestling with an emotional question: Should the community ...

Origami Risk Adds Culpepper, Franks

Origami Risk, based in Glencoe, Ill., has hired Mary Culpepper as a senior account executive and added Jason Franks as sales director. ...

North Dakota Vehicle Registrations Top 1 Million

For 684,000 North Dakotans, there are now 1 million vehicles. North Dakota Transportation Department director Francis Ziegler reports ...
Southeast

Judge Allows South Carolina Company’s Twitter Lawsuit Against Employee

A South Carolina company's lawsuit accusing a former employee of costing it hundreds of thousands of dollars in lost business when he took ...

West Virginia Mutual Names Wallace President, CEO

Physician insurer West Virginia Mutual Insurance Co. is under new leadership after naming R. Austin Wallace to serve as president and chief ...
South Central

U.S. Supreme Court Refuses to Stop Louisiana Citizens Judgment

The U.S. Supreme Court has refused to stall payment of a $93 million judgment against Louisiana's property insurer of last resort, a ...

Texas Agents Honor State Lawmakers with Independent Leadership Award

The Independent Insurance Agents of Texas (IIAT) has presented Independent Leadership Awards to the Honorable Kelly Hancock, Texas House of ...

Texas Business Pleads Guilty to Hiding Payroll

A Midland, Texas-based company has pleaded guilty to misrepresenting the payroll of an affiliated firm, according to workers' ...

BP Emails Reveal Company Veiled Spill Rate

On the day the Deepwater Horizon sank, BP officials warned in an internal memo that if the well was not protected by the blow-out preventer ...
West

Denver Workers’ Comp Privatization Gets Cool Reception

A proposal to privatize the only state-chartered workers' compensation company is getting a cool reception from a special panel reviewing ...

Early Tally: January Storms Cause $38M Damage In Oregon

Preliminary assessments indicate the wind, rain and snow that hit Oregon in mid-January caused an estimated $38 million in damage to nine ...

Alaska Volcano Lava Dome Forms, Alert Level Raised

The warning level for a remote Alaska volcano has been raised after a new lava dome began forming, indicating the mountain could explode ...

Study: California Workplace Safety Program Only Superficially Enforced

An occupational safety program that requires California businesses to eliminate workplace hazards only works when it's adequately ...

California's Jones Announces Multi-State Effort on Climate Risk Disclosure

California Insurance Commissioner Dave Jones on Wednesday announced that the California Department of Insurance has joined with Washington ...

U-Haul Parent to Strengthen Loss Reserves on Discontinued Workers' Comp Business

Reno, Nev.-based AMERCO (Nasdaq: UHAL) announced on Wednesday that following an internal review of its property and casualty subsidiary's ...
International

Haiti, Dominican Republic May Be Entering Big Earthquake Period

Haiti and the neighboring Dominican Republic could be in for a period of periodic powerful earthquakes, according to a recent scientific ...

Korea Life Considers Bid for ING’s Asia Insurance Business

Korea Life Insurance Co. Ltd said on Thursday that it is reviewing the feasibility of bidding for ING Groep NV's Asia-Pacific insurance ...

Japan Governor Wants Nuclear Safety Pledge in Writing

Japanese governor Tokihiro Nakamura believes nuclear power is vital for the resource-poor land, but even he says the central government ...

Europe Freeze Kills 89; Fears Rise over Russian Gas

Record-low temperatures in parts of Eastern Europe pushed the death toll from Arctic conditions to at least 89 people on Wednesday, and ...

ABI Warns of Increased Flood Risks in England and Wales

The Association of British Insurers (ABI) has warned that the flood risk faced by communities in political constituencies across England ...

Earnings Reports: ACE Limited

Chairman and CEO Evan G. Greenberg commented: "ACE had a very good fourth quarter and year given the record ...

UK’s Evolution Secures Allianz Capacity for Additional 5 Years

Commercial underwriting specialist Evolution Underwriting has announced the extension of its capacity arrangements with Allianz for a ...

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New Discussions in the Forums

Farmers - your opinion
Posted: Thu Feb 2 -- I too agree with the prior posts. I came to Farmers after having been in the IA enviroment for over 10 years where I was a top PL producer,... Was a Farmers Agent
General Cont wants AI on auto and Excess
Posted: Thu Feb 2 -- The COI needs to state that the Umbrella is following form for all underlying coverages and endorsements. As to the BAP, if the policy... Big Dog
Software - Agent, not Agency
Posted: Wed Feb 1 -- I have been searching the forum and see mostly postings for agency software. I am looking for software to just track my business. I am a... sunny
Personal Quake Insurance - CA
Posted: Wed Feb 1 -- Fidelity gives direct appointments to retail agents, not sure if you can access them through a GA or not. Their rates may not necessarily... wariline
Taxi company - CA 25 Units
Posted: Wed Feb 1 -- Mercury pulled out of the market so they wont renew. We are one of the two agencies who had mercury taxi. So the account is either with us... JAM
Do you purchase Damage Waiver when renting a car?
Posted: Mon Jan 30 -- If I'm traveling and will be driving quite a bit in an urban area with which I am not familiar and the weather is or is projected to be... mightyquinn
How do you ask for a referral?
Posted: Fri Jan 27 -- Another way is to send an email (if that's the preferred way to contact a particular client) and ask for referrals. I've thought about... pageltd

Reader Comments

People Lie More When Texting
Posted: Fri Jan 27 -- Truth is I'm much better looking here than in real life.... no lie. Anejo
Lawyers Jump Into Cruise Ship Disaster Cases
Posted: Mon Jan 30 -- At least we're exporting something. youngin'
Bill Targets Arizona Toll Road Evaders
Posted: Tue Jan 31 -- And a law against concealed ray-guns just in case someone invents one. Anejo
Costa Cruises Offers Settlements to Passengers
Posted: Fri Jan 27 -- I thought there was a law that you couldn't bring suit in the U.S. because the ship was registered abroad, or something to that extent. If... DS
Boston Judge Orders 14 Drug Cos. to Settle Breast Cancer Case
Posted: Sat Jan 28 -- Suzanne: I wish you all the luck in the world. I am also a DES daughter. My mom took the drug throughout her entire term with the exception... maddog

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January 23, 2012

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