Tuesday, February 7, 2012

Daily Headlines: Tuesday, February 7, 2012

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Insurance Journal Daily Headlines
February 7, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Not All States Sign $25M Settlement Giving Banks Lawsuit Protection

A proposed mortgage settlement in the works for more than a year will move forward with more than 40 states joining the deal before a ...

BP Preparing ‘Vigorously’ As Start of Gulf Oil Spill Lawsuits Nears

BP said it was preparing "vigorously" for lawsuits related to its Gulf of Mexico oil spill, which are due to start later this month, as it ...

8 States to Hold Earthquake Drills Today

Eight states are expected to take part in an earthquake drill today that will be conducted throughout the central United States on the ...

Allstate Readies Homeowners Product for More States

Look for Allstate to roll out a new homeowners product in phases to additional states through 2014. The insurer launched its new homeowners ...

EMC Insurance Rolls Out Data Compromise Product

EMC Insurance Companies launched a new data compromise and identity recovery product at the start of February. The organization touts this ...

Mercury Insurance Launches Commercial Auto Product

Mercury Insurance has introduced a commercial auto product that offers agents a new point-of-sale system that makes it easy to rate, ...

ACE and gplink Launch New Yacht Coverage

ACE Recreational Marine Insurance and gplink have announced broadened coverage and are new savings to qualifying customers through the new ...

Investors Suing Bank of America Win Class-Action Status

Investors suing Bank of America Corp. won class-action status for their lawsuit accusing the bank of fraudulently misleading them about the ...

Accident Fund Holdings Launches Narcotics Program for Injured Workers

Accident Fund Holdings has created a comprehensive narcotics program to help reduce the health risk of drugs on injured workers and provide ...

From MyNewMarkets.com Rates Cuts for Financial Institutions to Moderate in 2012

A new report from Marsh anticipates deteriorating market conditions for financial institutions in 2012. Rate decreases in many lines of...
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East

New York Fed Taps 5 Banks to Bid for AIG Bonds: WSJ

The Federal Reserve Bank of New York has invited five banks to bid for mortgage bonds of insurer American International Group, the Wall ...

Mass. AG Coakley Heading to D.C. to Make Case for Health Care Law

Attorney General Martha Coakley is heading to Washington to make a legal case for the national health care law that was modeled after ...

Selective Posts $16M Q4 Profit; Jan. Commercial Renewal Rates Up 4.5%

Selective Insurance Group, based in Branchville, New Jersey, reported $16.1 million for its 2011 fourth-quarter net income, down 32 percent ...

Alleghany, Transatlantic Shareholders Approve Merger Agreement

Alleghany Corp. said its stockholders voted on Monday to approve the previously announced merger agreement with Transatlantic Holdings. ...
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Midwest

Report: Minnesota Board Refrains from Disciplining Doctors

A Minnesota state board that's responsible for protecting the public from physician errors often shies away from punishing doctors whose ...

Jansen Named as Grinnell Mutual President and CEO

Larry Jansen has been named president and chief executive officer at Grinnell Mutual Reinsurance Co. located in Grinnell, Iowa. For the ...

Fremont Insurance Co. Ratings Upgraded; Auto Club Group Affirmed

A.M. Best Co. has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and issuer credit rating (ICR) to ...
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Southeast

North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012

Auto insurers in North Carolina are once again divided over the prospect of changing how the state sets insurance rates with some insurers ...

West Virginia Firm Develops ‘Guardian Angel’ for Miners

A West Virginia company is working on a piece of equipment designed to keep miners safer. Trinity Resources, headquartered in Putnam ...

Want Fries With That Insurance Policy? Restaurants on Fidelity National’s Menu

A title insurance and mortgage services company that already owns a stake in the Bakers Square restaurant chain is buying the restaurant ...

Alabama Sports Trademark Infringement Claim Set for Court

A federal appeals court is set to hear arguments in the trademark infringement case between sports artist Daniel Moore and the University ...
South Central

Copper Thieves Plaguing Texas Businesses

Despite new laws making any theft of copper a state jail felony, thieves continue to plague Texas businesses by ripping away copper tubing ...

Many Texans Earn Low Pay, Hold Few Assets

Texas politicians like to tout the state's economic growth, but more and more Texans are finding themselves teetering on the edge of ...

Officials: Louisiana Man Accused of Setting 12 Fires

Louisiana State Fire Marshal H. "Butch" Browning says a 55-year-old Kaplan man is accused of setting a dozen fires, including one that ...
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West

Report Card: California 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 ...

West Agencies Help SIAA Grow By 47 in January

Several agencies from the western region joined Strategic Insurance Agency Alliance in January, pushing its number added to 47 for the ...

$200 Million Ceded Lands Settlement in Hawaii Under Consideration

Two Legislative committees will begin looking into a proposed $200 million real estate deal that will settle the Office of Hawaiian Affairs ...

Utah Officer Dismissed From Suit Over Student’s Death

A federal judge has dismissed the city of St. George, Utah and one of its police officers from a lawsuit filed by the parents of a high ...

Long-time California Lobbyist Looks to 2012 Legislation That May Impact Insurance

John Norwood is one of California's best known legislative advocates for the insurance and financial services sectors. Norwood, principal ...

Former Cal-OSHA Chief Defends Workplace Safety Program

The former chief of the California Occupational Safety and Health Division defended its Injury's Illness Prevention Program following a ...

The Buckner Co. Acquires Leonardson Insurance in Idaho

Salt Lake City, Utah-based The Buckner Co. on Monday announced it is expanding operations Idaho with the acquisition of Leonardson ...
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International

Rescuers Dig to Reach People Trapped by Philippines 6.9 Earthquake

Rescuers dug with picks and shovels trying to reach dozens of people trapped under houses collapsed by a strong earthquake Monday that ...

U.S. Authorities Looking Into Murdoch Foreign Payments

U.S. authorities are stepping up investigations, including an FBI criminal inquiry, into possible violations by employees of Rupert ...

Geneva Association Report Analyzes Re/Insurers’ Insolvency Resolution

International insurance think tank, The Geneva Association, has published its latest report for the ongoing financial stability discussions ...

Despite Uptick in Frequency, January Sees No Major Natural Disaster

January was a good month in terms of global catastrophes. Yet while there was no single major loss event throughout the month, a series of ...
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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

Retail to Wholesale???
Posted: Mon Feb 6 -- Even if it is wholesale or retail, property and casualty insurance products are still in demand. chizcurlz
Farmers vs. Independent
Posted: Mon Feb 6 -- Though it is hard to establish your own insurance agency, it more easier to get more money and to build clients as well. chizcurlz
Should An Agency Specialize or have a Niche?
Posted: Mon Feb 6 -- I agree. Specializing a specific niche is much easier than selling different kinds of insurance. By this mean, an insurance agency can be... chizcurlz

Reader Comments

Talk of 'Tornado Tourism' Stirs Anger in Joplin, Missouri
Posted: Thu Feb 2 -- People go to the site of the twin towers, to Pearl Harbor, to Gettysburg, the Alamo etc. So Joplin is somehow more sacred? Tourism that is... bob
Pfizer Recalls 1M Birth Control Packs After Mixup
Posted: Thu Feb 2 -- I can see it now - wrongful birth suits. Lauren CIC ARM
Judge Allows South Carolina Company's Twitter Lawsuit Against Employee
Posted: Thu Feb 2 -- Yeah what basically happens is the companies dont see the value in social networking until one of the sales reps uses it successfully on... FLagent/insured
Federal Insurance Office Says Overdue Regulation Report Still Weeks Away
Posted: Thu Feb 2 -- We, as agents will really appreciate Turbo Tax Tim in charge of regulation of the Insurance Industry. Just what we need, more bureaucracy to... Agent
Nuclear Accidents Pose Little Risk to U.S. Health, Say Regulators
Posted: Thu Feb 2 -- It's about time some sanity prevailed. The nuclear industry is the only segment of our national energy infrastructure where uninformed... John Wheeler

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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