Wednesday, February 15, 2012

Daily Headlines: Wednesday, February 15, 2012

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Insurance Journal Daily Headlines
February 15, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

’100-Year Storms’ May Happen Every 3 to 20 Years: MIT-Princeton Research

Last August, Hurricane Irene spun through the Caribbean and parts of the eastern United States, leaving widespread wreckage in its wake. ...

Senators Renew Push for Cybersecurity Law

Leading U.S. senators introduced a cybersecurity bill on Tuesday aimed at safeguarding the nation's water and power systems, which experts ...

AIG In No Rush to Sell Key Assets: CEO Benmosche

American International Group Inc. may raise its stake in Asian insurer AIA Group someday and is open to offers for its airplane leasing ...

Safety, Security at Bio Labs Open to Interpretation, Not Matter of Law

To reach his office in Galveston National Laboratory, where scientists study deadly pathogens such as the Ebola and Marburg viruses, ...

Trucking Industry Fights Obama Rules on Driver Fatigue

Trucking companies are going to court to fight Obama Administration rules designed to assure that commercial truckers on the road get ...

Travelers Expands Telematics Options for Business Fleets

In an effort to further strengthen driver safety programs, Travelers has introduced IntelliDrive Fleet Safety Solutions to help business ...

Ironshore Brings Lloyd’s Political Risk Coverage to U.S. Market

Ironshore Insurance Services has received extension of class approval from Lloyd's to underwrite insurance coverage for the Pembroke ...

Pitney Bowes Develops Wildfire Risk Software

Pitney Bowes Software has released the Pitney Bowes Risk Data Suite Software Bundle for property and casualty insurers. The company says ...

China Agrees to Open Up Auto Insurance Market

U.S. Vice President Joe Biden said on Tuesday that China had agreed to an important financial sector reform by opening up its massive auto ...

Ratings: Concord Group, Mountain States, Atradius Trade Credit, Young America

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of 'A' (Excellent) and issuer ...

From MyNewMarkets.com Aspen Insurance Poised for Push in Management Liability Market

As the management liability segment appears poised for rate increases, it would not be a surprise to see some carriers begin to make moves...
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East

Paulson Steps Up Pressure, Urges Hartford Board to Spin Off P/C Biz

Hedge fund manager John Paulson -- who currently holds a 8.4 percent stake in The Hartford -- filed a letter yesterday to the board of The ...

Pennsylvania Hotel, Workers Settle Class-Action Lawsuit Over Tips

About 150 current and former employees of a Pittsfield, Penn., hotel as well as hotel management have reached a $1.3 million agreement in a ...

Judge in Philadelphia Hears Arguments Over Secret Arbitration

A group advocating open government told a federal judge last week that a Delaware law allowing Court of Chancery judges to preside over ...

TD Insurance Announces Promotion in Boston

TD Insurance, a subsidiary of TD Bank, has promoted David Lofstrom to vice president of U.S. commercial sales and product development. ...
Midwest

Hartmann Joins Safety National's Large Casualty Unit in Chicago

St. Louis, Mo.-based Safety National Casualty Corp., an excess workers' compensation provider and a writer of multi-line large casualty ...

Doctor in Ohio Pill Mill Case Sentenced to Life in Prison

A doctor convicted in the overdose deaths of four patients and implicated in eight more deaths faces has been sentenced to in federal court ...

Prairie State Insurance Cooperative Expands Board

The Prairie State Insurance Cooperative (PSIC), based in Itasca, Ill., has appointed two new board members, growing the board from seven to ...

In Joplin, Missouri, Young Professionals Hear Call to Serve

One worked in financial services. Another was an insurance agent. A third had recently finished law school and embarked on a legal career. ...
Southeast

North Carolina Supreme Court Weighs ‘Reasonableness’ of Hospital Bills

North Carolina's Supreme Court heard attorneys argue Monday whether consumers should be able to take hospitals to court to justify bills ...

Florida Bill Seeks to Curb Medical Malpractice Claims

The Republican-controlled Florida Legislature is pushing ahead this year with changes meant to curb medical malpractice lawsuits against ...
South Central

Town & Country Insurance Agency Completes Whittington Acquisition

Houston-based Town & Country Insurance Agency Inc., a subsidiary of Encore Bancshares Inc. and an affiliate of Encore Bank N.A., has ...

Drought Takes Toll on Texas' Urban Forest

An estimated 5.6 million trees that once shaded homes, streets and parks in communities across Texas now are dead as a result of last ...

No Seat Belts in 7 Out of 8 Louisiana Traffic Fatalities in 2012

Louisiana State Police report nine traffic-related fatalities so far this year. Out of those seven of eight people who died in motor ...

The Woodlands Financial Group Opens 4 New Locations

The Woodlands Financial Group Inc. (TWFG), a retail and managing general insurance agency headquartered in The Woodlands, Texas, has opened ...
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West

Garamendi Introduces Flood Insurance for Farmers Act

Congressman John Garamendi, D-Walnut Grove, Calif., on Tuesday introduced the Flood Insurance for Farmers Act of 2012 to help offset the ...

Worldwide Broker Network Brings on Associate Members

San Mateo, Calif.-based Worldwide Broker Network has expanded their membership to include associate members. WBN membership has always been ...

Yates Adds Janes and Snow

Brian Janes and Vicki Snow have joined Tustin, Calif.-based managing general agent Yates. Janes and Snow, who become producers with ...

California Investigates PG&E Pipeline Safety Practices

California utility regulators are investigating Pacific Gas & Electric Co.'s pipeline safety practices after two welders claimed that ...
International

Best Affirms Mexico’s Seguros Inbursa ‘A’ Ratings

A.M. Best Co. has affirmed the financial strength rating of 'A '(Excellent) and issuer credit rating of "a" of Mexico's Seguros ...

More Shipwreck Survivors File Lawsuits against Carnival, Costa Cruises

Dozens of additional survivors of the Costa Concordia shipwreck off Italy have joined a Florida lawsuit that accuses the ship's owners of ...

MAPFRE Highlights 19.3% 2010 Latin American Insurance Market Growth

A report from the FUNDACIÒN MAPFRE, which analyzed 19 Latin American countries, concludes that the Latin American insurance market ...
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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

claims question
Posted: Wed Feb 15 -- Do you have a formal rent agreement with this person? If so, and it's properly worded requiring the tenant to be responsible for their own... Big Dog
Partnership Questions
Posted: Wed Feb 15 -- I'm thinking about partnering with a former co-worker who has an independent agency. We both went out on our own and I went captive instead... Taylyn
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

Reader Comments

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
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
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

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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