Tuesday, February 21, 2012

Daily Headlines: Tuesday, February 21, 2012

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Insurance Journal Daily Headlines
February 21, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S. Should Expect Another Above-Normal Tornado Season in 2012

The U.S. should expect an active severe weather season with above-normal tornadoes in 2012. That's after a near-record number of ...

Cruise Ship Industry Leaves Crash Victims Little Hope for Recovery

When Walter Henry Alderfer learned last month about the Costa Concordia shipwreck off Italy, it brought back bad memories. In April 2007, ...

Mitsui Unit to Pay $90 Million Over Gulf Oil Spill

Mitsui & Co. Ltd.'s MOEX Offshore agreed with the U.S. Justice Department to pay at least $90 million to settle some of its liability ...

5 States May Intervene in California Honda Small Claims Case

A judge last week granted California and four other states more time to consider objecting to a class-action settlement between Honda Motor ...

Feds Seek Limit on Vehicle Electronics to Curb Distracted Driving

The Obama administration wants automakers to put limits on vehicle technologies that permit texting and cellphone calling when a car is ...

HCC Specialty Offers Excess Product Contamination Coverage

HCC Specialty's Crisis Management Division will begin offering excess product contamination limits for large U.S. food and beverage ...

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

Connecticut Seeks to Recapture Role as Insurance Capital

Hartford is trying to recapture its status as the nation's insurance capital by drawing in a specialized insurance business that is finding ...

USI Insurance Appoints Two Executives in New York

USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., announced two additions to the New ...

Preferred Concepts Hires R-T Specialty Exec in Hartford, Conn.

Preferred Concepts LLC, a national insurance program administrator and specialty broker, appointed Jay Sheehan as senior vice president of ...

Massachusetts Cardinal Pushes for Contraception Solution

Boston Cardinal Sean O'Malley is continuing to push to resolve a dispute between the Obama administration and the Catholic church about ...

$20M Verdict Upheld in Massachusetts Pool Slide Lawsuit

A Massachusetts judge has upheld a $20 million jury award to the family of a Colorado woman who died after a Toys `R Us inflatable pool ...
Midwest

Missouri Senate Passes Bill Expanding Workers’ Comp to Diseases

In a move that Republicans contend will make Missouri more attractive to businesses, the state Senate has approved legislation to expand ...

Wisconsin Denied Medical Loss Ratio Waiver

The federal government has rejected Wisconsin's request to phase in a requirement that health insurers spent 80 cents of every dollar in ...

Insurance Agent Licenses in North Dakota Double in Decade

Officials said the telephone and the Internet have spurred an almost twofold increase in the number of insurance agents licensed to do ...

Illinois Insurance Agent Sentenced 17 Years for Fraud

A southern Illinois insurance agent and securities broker was sentenced to 17 1/2 years in prison after pleading guilty to an investment ...
Southeast

Florida Lawmakers Still Balk at Raising Homeowners’ Premiums for Cat Fund

State lawmakers have gambled with their constituents' money for years when it comes to dealing with Florida's property insurance issues. ...

North Carolina Wins Delay on Medical Loss Ratio

Federal regulators last week allowed North Carolina insurers a one-year delay in meeting a benchmark requiring that more of each health ...

Florida Jury Awards Man $3.3 Million Over Bank’s False Alarm

A Miami-Dade jury has awarded $3.3 million to a man who was trying to cash a check but was then detained after a Bank of America teller ...

Earthquake Simulator to Be Built at University of Alabama

There aren't very many rooms in the world that can successfully reproduce the devastating effects of an earthquake. But come May 1, a ...
South Central

Texas 2011 Legislative Update

Ambulance-chasing attorneys, frivolous lawsuit filings and contractual indemnification clauses were all subjects addressed by the Texas ...

Oklahoma Bill Bans Cell Phone Use by Teen Drivers

Legislation that would prevent teenage drivers from using cell phones while driving has cleared a Senate panel. The Senate Public Safety ...

La. Settles Federal Lawsuit Over Sexual Harassment

The Louisiana Department of Public Safety and Corrections agreed last week to modify its sexual harassment policies and training as part of ...

U.S. Risk Promotes Mullens to EVP

U.S. Risk Insurance Group Inc. has promoted Mike Mullens, the current national practice leader for the U.S. Risk healthcare division, to ...
West

Insurance Companies Dodge Billion-Dollar Bullet in California

Court Limits What Medical Bills Juries Can View Insurance companies, and ultimately California consumers, avoided a windfall sought by the ...

Court Upholds Lawsuit Against Northern California Hooters

A state appeals court has upheld a class-action lawsuit filed by servers at several San Francisco Bay area Hooters restaurants in Northern ...

Oregon Jury Awards $25M In Smoker’s Death

An Oregon jury has awarded $25 million in punitive damages in the death of a Salem smoker whose family sued tobacco company Philip Morris ...

State Investigates Cause of Washington's Refinery Blaze

State safety inspectors are investigating the cause of a dramatic blaze at Washington's largest oil refinery Friday near Blaine, as BP ...

Anderson & Murison Founder to be Remembered

Dave Anderson, founder of wholesaler Anderson & Murison Inc. in Southern California, who served several insurance associations in ...

California Lawmaker Introduces Claim Information Control Bill Over Insolvent Insurers

A California lawmaker on Friday introduced a bill to give greater control of claim information held by insolvent companies over to ...
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International

Report: Greek Bondholders - Banks and Insurers – Set for 74% Haircuts

Banks are set to lose almost three-quarters of the value of their Greek government bonds under a deal agreed early on Tuesday, slightly ...

One Year Later, Christchurch Still ‘Safe Haven’ for New Zealand Quake Survivor

Jane Taylor was managing a women's clothing store in downtown Christchurch a year ago when the earthquake struck. She was dug from the ...

Best Approved to Set Up Branch in Dubai for MENA, So. & Central Asia

The world is changing, including the insurance industry. Nowhere is there better proof than the announcement this morning from A.M. Best's ...

Willis Global Solutions CEO Chides Industry for Failures on Reputation Risk

Phil Ellis, the CEO of Willis Global Solutions Consulting Group, called on the insurance industry "to innovate rapidly to address the ...

AIR Analyzes Increased Japan Risk after Tohoku-Oki Earthquake

Catastrophe modeling firm AIR Worldwide has released a new report - "Understanding Earthquake Risk in Japan Following the Tohoku-Oki ...

Best Affirms Ratings of HDI Hftp. der Deutschen Industrie, Talanx AG

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

Best Affirms HDI-Gerling Industrie Versicherung AG, and Subs Ratings

A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating (FSR) of 'A' (Excellent) and the issuer credit ...
Sponsored Content

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Minneapolis, MN, 02/21/12 - The NICB (National Insurance Crime Bureau) and the National Sheriffs Assn. describe how Priority Response ...

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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

Should I accept Allied Appointment?
Posted: Tue Feb 21 -- I see that there are concerns about Allied going back a couple of years. Wonder if anyone has more information or concerns? We are looking... William Graham
Questions about starting an MGA
Posted: Sat Feb 18 -- Hi all, I was wondering if anyone here had any ideas, opinions or advice they could offer about starting a GA. Specifically, I am wondering... paulbennings
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
Are Insurance Agents Employees or Independent Contractors?
Posted: Fri Feb 17 -- Try for the best situation. Try to find an employer who will classify you as a Statutory Employee. Deductions go on schedule C and no... jackwehoca
Access to Admitted Markets
Posted: Fri Feb 17 -- I need to get access to admitted markets in Florida for GL, Inland Marine, etc. Any idea on how an independent agent can do this without... sunny
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

Reader Comments

Penn State Countersues PMA Over Coverage of Sandusky Lawsuit
Posted: Fri Feb 17 -- Payment of premiums over the years does not create coverage for claims expressly excluded by the policy terms. If a court even entertains... Bill Eskdale
The Hartford's Biggest Stakeholder Wants to Split Up the Firm
Posted: Wed Feb 15 -- This is why I only like to work with Super Regional Carriers, preferably Mutuals. This company like Travelers, CNA, Etc. Do not know wether... Sarah
Trucking Industry Fights Obama Rules on Driver Fatigue
Posted: Wed Feb 15 -- I knew you'd be the very first to replay. Rattled your cage; didn't I? Obama has spent more money in his first 3 1/2 years then Bush did... Always Amazed
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
Family of Slain Girl Sues Georgia Apartment Complex
Posted: Thu Feb 16 -- Perhaps the shortest time served under a completed life sentence. The Other Point of View

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