Tuesday, February 28, 2012

Daily Headlines: Tuesday, February 28, 2012

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Insurance Journal Daily Headlines
February 28, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Social Media Patent War Looms as Yahoo Threatens Facebook

Yahoo has demanded licensing fees from Facebook for use of its technology, the companies said on Monday, potentially engulfing social media ...

In Win for BofA, $8.5B Mortgage Settlement Sent Back to New York Court

Bank of America Corp. won a victory when a U.S. appeals court ruled that a proposed $8.5 billion settlement with investors in ...

Supreme Court Weighs Foreigners’ Claims Against Corporations

Corporations and human rights groups are squaring off in a Supreme Court fight over whether foreign victims of war crimes, killings and ...

Navigators Launches Wholesale Unit

Navigators Management Company Inc. (NMC) has launched a new operating unit that will focus on working exclusively with wholesale brokers in ...

Surplus Lines Analysis: Multistate Clearinghouse Economics Don’t Work

Recent data from Florida indicate that the economics for a multistate surplus lines tax allocation clearinghouse are unworkable. There ...

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: NSM Insurance Group. We have 25 years writing non-profits. Hospice, Boys and Girls Clubs, CAAs, Head Starts, Senior Services, MRDD/ARC, Charter Schools and Many More! Click here for more information.
East

Insurance Fight Shows Catholic-Evangelical Ties

After the White House decreed this month that religious employers would have to pay for workers' birth control, it was no surprise that ...

Penn. Insurance Department Forms New Health Insurance Assistance Unit

The Pennsylvania Insurance Department announced last week it has formed a new consumer unit to respond to questions about health insurance. ...

March 5 Deadline to Register for Virginia Quake Aid

A deadline is approaching for victims of the Aug. 23 earthquake to register for federal disaster aid. March 5 is the last day for ...

N.J.-based Prudential Group Insurance Names Chief Information Officer

Prudential Group Insurance, a unit of Prudential Financial in Newark, N.J., appointed Joseph Hayes vice president, information systems and ...
Midwest

Auditor Questions Tax-Exempt Status of Missouri Employers Mutual

Releasing an audit of a tax-exempt workers' compensation insurer in Missouri, State Auditor Tom Schweich called for the legislature to ...

Calkin Promoted to Divisional President at Great American Insurance

Cincinnati, Ohio-based Great American Insurance Group has promoted Mark Calkin to divisional president of its trucking division. Calkin has ...

Iowa-Based Petroleum Marketers Management Insurance Upgraded

A.M. Best Co. has upgraded the financial strength rating to A- (Excellent) from B++ (Good) and issuer credit rating to "a-" from ...

Nebraska Bill Would Create Disaster Housing Fund

Nebraska needs to create a temporary housing fund to help people who lose their homes to flooding, tornadoes and other natural disasters, a ...
Southeast

Florida May Change Citizens’ Policyholder Assessments

Funding for the Florida's state-run property insurer is likely to change as state lawmakers are looking to access the insurer's total ...

Eastern Kentucky Fire Departments Struggle to Find Volunteers

Fire departments in eastern Kentucky are struggling to find enough volunteers. Pike County Emergency Management Director Doug Tackett told ...
South Central

Independent Agency System Marked by Changes and Challenges

Robust merger and acquisition activity, carrier relocations and an aging workforce are influencing independent insurance agencies in ways ...

Oklahoma Bill Would Ban Alcohol Sales at Self-Checkout Stands

An Oklahoma state lawmaker has filed legislation aimed at curbing the sale of alcohol to minors by requiring face-to-face interaction for ...

Lafayette, Louisiana Council to Consider Safety Tax

A proposal for a new half-cent sales tax for public safety will be back before the Lafayette, La., City-Parish Council after members last ...
Sponsored by: Texas Mutual Insurance Company. It's hard to think safety as bringing in revenue to a client, but that's exactly what it's doing. Click here for more information.
West

Colorado Revisits Marijuana DUI Standard

A divisive driving-while-high bill is back before the Colorado Legislature as senators revisit a measure to say how much marijuana can ...

Parents of Child Born With Cystic Fibrosis Sue

The parents of a child born with cystic fibrosis have filed a lawsuit against health care providers saying they would have terminated the ...

Light Earthquake Felt in Alaska Communities

Seismologists say a light earthquake struck Alaska's east-central region and was felt in several communities. The Alaska Earthquake ...

Corrections Department Settles Federal Lawsuit

A federal sex-discrimination suit has been settled between the Arizona Department of Corrections and the U.S. Department of Justice. The ...

12.8M Verdict for Washington Firefighter’s Fall Upheld

The Washington state Court of Appeals has upheld a verdict of nearly $13 million for a Seattle firefighter who was severely injured when he ...

Roush Joins B & B in Southern California

Stephanie Roush has joined Agoura Hills based B & B Premier Insurance Solutions Inc. as an account executive. Roush, who specializes in ...
International

World Bank Says China Must Embrace Market Economy

China's economy is near a turning point that demands that it relax its grip on industry and move towards free markets, the World Bank said ...

UK Singer Church Settles in Murdoch Hacking Case

Charlotte Church, who testified about being hounded by Rupert Murdoch's journalists when she was a teen singing sensation, has received ...

Willis Peru Sells 49.9% Stake to Credicorp in Partnership Move

Willis Europe BV, a subsidiary of global insurance broker, Willis Group Holdings plc, and Peruvian financial services group Credicorp Ltd, ...

Former BUPA Head Gooding Joins XL Board

XL Group plc announced that Valerie F. Gooding has been appointed to the Company's Board of Directors, effective at the April board ...
Sponsored Content

Prime Names New President

Chicago, IL and Salt Lake City, UT, 02/23/12 - Prime Insurance Company, a premier excess and surplus lines carrier announced today that ...

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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

How have you Benefited from your Cluster Membership?
Posted: Tue Feb 28 -- I want to Ditto what SACMAN had to say --- I am a former FIG agent for 22 years, Farmers divorced me. I thought briefly about staying away... William Graham
Is being profitable in NJ ever become reality?
Posted: Tue Feb 28 -- Hello All, I wanted to get some input/comments from others in the insurance industry to see what they are seeing in regards to this issue... bjwestner
Identity Theft Insurance
Posted: Tue Feb 28 -- If you want to sell it you should get in with Harvard Benefits. Working for them is kind of a scam from what I've read online as it seems to... bjwestner
Facebook
Posted: Mon Feb 27 -- As these last notes came up as comments on the latest IJ news email, I went back to read (ok, I skimmed) this post from its origin a few... JasonBHBCo
Questions about starting an MGA
Posted: Mon Feb 27 -- Thanks all. I really appreciate all the comments and help. This is such a useful forum. Ron, I emailed your company earlier today about your... paulbennings
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
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

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
Mom Sues UC Over Son's Overdose at UC Berkeley
Posted: Mon Feb 27 -- Let's see....He was an adult (21), his mommy wants to blame the people that own the building for not acting like his mommy. I'm missing... csp
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

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