Tuesday, February 14, 2012

Daily Headlines: Tuesday, February 14, 2012

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Insurance Journal Daily Headlines
February 14, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

41 Senators Urge Action on Flood Insurance Reform

Forty-one U.S. senators from both parties have signed a letter urging the Senate to schedule a vote on legislation to reform and extend the ...

A Valentine’s Kiss Warning: Lead Poisoning!

If you're going to be on either end of a kiss this Valentine's Day, you might want to consider smooching bare-lipped. Most lipstick ...

Wall Street Fights Back vs. Expert Witness in Lawsuits

For years, Craig McCann played a prominent role as a top expert witness, his testimony helping to win millions of dollars for investors who ...

Practice Doesn’t Make Perfect in Making Decisions About Risk

People aren't always good at making informed decisions that involve risk, but a new study shows that even when they know the likelihood ...

Marsh & McLennan Posts $256M Q4 Profit, Up 26% From Prior Year

Marsh & McLennan Companies reported $256 million for its 2011 fourth-quarter net profit, up 26.1 percent from one year ago when it posted ...

XL Group Launches Product for Construction Equipment

The marine insurance unit of XL Group has unveiled Contractor's Equipment Coverage Solutions, a package designed to protect the equipment ...

Norman-Spencer Takes AquaPac Program Nationwide

The Norman-Spencer Agency will make its AquaPac Boat/Yacht Insurance Program available to boat owners, boat dealers and insurance agents ...

Appalachian Provides Umbrella Quotes for Demotech Rated Carriers

Insurers earning a financial stability rating of A or better from Demotech are now eligible for standalone personal umbrella insurance ...

BP Wins Dismissal of Part of Investor Lawsuit Over Gulf Oil Spill

A U.S. federal judge dismissed a large part of a nationwide lawsuit accusing BP Plc and top executives of fraud for misleading shareholders ...

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

New York Leads 11 States in Suing EPA Over Soot Rules

New York and 10 other states filed a lawsuit last Friday designed to force the U.S. Environmental Protection Agency to issue new ...

BMS Group Appoints Executive VP for Philadelphia Office

The U.K.-based broker BMS Group appointed industry veteran Mike Hollenbach as executive vice president within its specialty casualty team. ...

The Hartford’s Biggest Stakeholder Wants to Split Up the Firm

The Hartford Financial Services Group's biggest stakeholder is not happy with its stock price and wants The Hartford CEO Liam McGee to do ...
New from Academy of Insurance: Builders Risk / Contractors Equipment
Midwest

Illinois Governor Defends State after Caterpillar CEO Blasts Jobs Climate

Gov. Pat Quinn defended the state's business climate on Feb. 12 after the head of Caterpillar Inc. blasted state political leaders in a ...

Corps Will Spend $1.8M on Omaha, Nebraska Flood Repairs

The U.S. Army Corps of Engineers is planning to spend $1.8 million to repair the flood-defense network around Omaha. The repairs being made ...

Ohio Petroleum Producers Push Back Against Proposed Regulations

Ohio petroleum producers are pushing back against a call by the state attorney general to increase environmental penalties and chemical ...

American Westbrook Insurance Launches Private Health Insurance Exchange

Westchester, Ill.-based American Westbrook Insurance announced it has launched a national private health insurance exchange. The individual ...
Southeast

Kentucky Lawmakers Swayed by Amish Man’s Letters on Buggy Issue

The simple, heart-felt letters of an old-fashioned Amish man are being credited for the Senate's quick passage of a bill that would allow ...

Lawyers Appeal Mississippi Asbestos Fraud Verdict

Two Mississippi plaintiffs lawyers, including a former state lawmaker, have appealed a verdict that they committed fraud during an asbestos ...

Georgia Fire Damages 23 Cars

Investigators in Georgia said 23 cars were damaged as high winds fueled a fire that spread to a car lot north of Atlanta. WSB-TV reported ...
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South Central

Louisiana Department of Insurance Recovers $5.3M in 2011

Louisiana Insurance Commissioner Jim Donelon announced that the Louisiana Department of Insurance (LDI) aided Louisiana insurance consumers ...

South Padre Mayor Appointed to Texas Coast Insurance Study Group

Texas House Speaker Joe Straus of San Antonio has appointed South Padre Island Mayor Robert Pinkerton, Jr. to the Joint Interim Committee ...

Fort Worth's Lucien Wright Insurance Services Relocates Office

Fort Worth, Texas-based independent property/casualty insurance agency, Lucien Wright Insurance Services Inc., announced it has moved its ...
West

Grade Insurance Commissioner Dave Jones

Insurance Commissioner Dave Jones marked his first full year in office last month by looking back on his and the California Department of ...

Union Pacific to Pay $1.5 Million in Fines

Union Pacific Railroad will pay $1.5 million in fines for environmental damage in Provo and other areas of the Intermountain West. The ...

Washington Senate Passes $100 Annual Electric Car Fee

The Washington state Senate has passed a bill to charge electric car owners a $100 annual fee to compensate for the lack of gas taxes they ...

Small Earthquake Shakes Rural Area North Of San Francisco

A small earthquake has shaken a rural area of Northern California about 90 miles north of San Francisco, but there are no reports of any ...

Montana Nurse Settles Wrongful Discharge Lawsuit

A Bozeman, Mont. nurse who was fired after serving as a surrogate mother for a patient has settled her wrongful discharge lawsuit with ...

Oregon's 'Second Lawsuit' Legislation Tabled

The Oregon House Judiciary Committee on Monday tabled HB 4136, a bill its detractors said would have imported "the legacy of bad faith ...
International

Lloyd’s Estimates Thai Flood Losses at $2.2 Billion

Lloyd's announced that it is estimating its overall net claims from the flooding in Thailand last year to be in the $2.2 billion range. ...

Chinese Firm Claims It Owns Apple’s iPad Trademark

A Chinese tech firm that says it owns the iPad trademark, plans to seek a ban on exports of Apple Inc.'s computer tablets from China, a ...

Italian Court Sentences Businessmen to Jail in Asbestos Case

A billionaire Swiss industrialist and a Belgian executive were sentenced to 16 years in jail on Monday by an Italian court and ordered to ...

Best Special Report Spots Insurance Market Rebound, Growth in Mexico

A special report from A.M. Best Co. concludes that "competitive pressures will continue for Mexico's insurers as they look to build on ...

Earnings Report: Montpelier Re

Chairman and CEO Christopher Harris commented: "We made important strategic progress in 2011 with the sale of a non-core business and the expansion ...

Willis Re Appoints Melia as CEO Willis Re International

Willis Re, the reinsurance arm of Willis Group Holdings, announced the appointment of Tony Melia as CEO of Willis Re International, ...

Marsh Names Dundas Global Head for Marketing and Communications

Marsh announced the appointment of Doug Dundas as its Global Head of Marketing and Communications. He is based in New York and will report ...
New from Academy of Insurance: Secrets of Condos Property / Liability
Sponsored Content

Reagan Survey: Organic Growth and Profitability Continues to Improve for Privately-held Insurance Agencies and Brokerages

Atlanta, GA, 02/12/12 - Reagan Consulting released its 2011 year-end Organic Growth and Profitability Survey (OGP Survey) results ...

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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

TX - Commercial Auto w Hired & Non-Owned - Forestry?
Posted: Tue Feb 14 -- I am needing a market for monoline commercial auto with hired & non-owned. We currently have him insured with a standard market who agreed... Smalltownagent
Adding Addtional Insureds
Posted: Tue Feb 14 -- I occasionally get requests from banks asking me to name them as AI/LP for a new loan, and when I check with the insured they tell me not to... DarrenR
Retail to Wholesale???
Posted: Mon Feb 13 -- After several factors came into play, I stayed on the retail side, however; I moved shops due to market access. Unfortunately, after being... thatinsguy
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

Reader Comments

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
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
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
FEMA to Waive Katrina Victim Debts
Posted: Thu Feb 9 -- If a corporation did this stock-holders would be suing the next day. Government forgets it's the tax-payers money, not their's. Anejo
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

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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