Wednesday, February 22, 2012

Daily Headlines: Wednesday, February 22, 2012

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Insurance Journal Daily Headlines
February 22, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Atypical P/C Executive: Chartis CEO Hancock on Fear, Regulation, Science and More

The keynote speaker told the professional liability insurance underwriters that regulation is not the enemy of business growth, the ...

U.S. Firms Seek Clarity on Anti-Bribery Law

U.S. corporations asked the government to explain what it considers a bribe of a foreign official, saying the lack of clarity has had a ...

U.S. Drops Major Anti-Bribery Prosecution

The Obama administration on Tuesday dropped a major bribery prosecution that had been part of a campaign to crack down on corruption after ...

The Hartford's AARP Program Looking for Agents

The Hartford says it will be increasing the availability of its auto insurance program for members of the American Association of Retired ...

Professional Underwriting Group Provides Insolvency Carve Back

The Professional Underwriting Group, Inc. (PUG) will now provide insurance agents and brokers professional liability insurance for insurers ...

RAND Study: Ending Individual Mandate Would Cut Coverage, Hike Government’s Costs

Eliminating the federal mandate in the new healthcare law that every individual carry health insurance would sharply lower the number of ...

There's an App for That: Mobile Phone Quoting

Don't be surprised if in the not-too-distant future on a television commercial you see Flo, adorned in her white apron, drop her price ...

Best Affirms American Safety Insurance Holdings and Subs Ratings

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of "a" of the insurance operating ...

Ratings Roundup: Plateau Group, Gerling America

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

Allied World U.S. Creates Mergers & Acquisitions Division

Allied World U.S. has expanded its professional lines operations through the launch of a new mergers and acquisitions division that will be ...

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...
New from Academy of Insurance: Secrets of Condos Property / Liability
East

N.Y.-based USI Insurance Services Acquires The Pinnacle Group

USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., acquired most of the assets of The ...

OneBeacon Completes Sale of AutoOne Business to New York's Interboro

OneBeacon Insurance Group said today it completed the sale of its AutoOne business to Interboro Holdings Inc. of of New York. The ...

UnitedHealth Pays $250K Penalty in Vermont Over Alleged Improper Ads

UnitedHealth Insurance Company has paid a $250,000 penalty in Vermont this month to resolve charges brought by financial regulators. The ...

2 Virginia Localities Declared Primary Disaster Areas

Isle of Wight County and the city of Suffolk in Virginia have been declared as primary disaster areas because of damage caused by excessive ...

AIG’s Chartis Appoints Head of New Claims, Operations Division

American International Group's Chartis, its global P/C business, has placed its claims unit and operations and systems (O&S) unit under a ...
Live webinar from Academy of Insurance: Myths, Lies and Legends Surrounding Kidnap and Ransom Coverage
Midwest

Midwest Farmers Urged to Buy Crop Insurance Due to Dry Weather

A relatively snow-free winter in the Upper Midwest has some officials worried about damage to agriculture if the dry weather persists into ...

Dealer Challenges Cincinnati’s Tough Scrap Metal Ordinance

A scrapyard has filed a lawsuit against Cincinnati, saying a new ordinance placing restrictions scrap metal sales will drive away ...

Wisconsin Business Owner Accused of Arson, Murder-for-Hire

A Wisconsin business owner is charged in federal court with torching his business and offering to kill someone's wife in payment for ...
Southeast

West Virginia Seeks Input on Proposed Business Court

The West Virginia Supreme Court is seeking comment on proposed rules for a new court system for business-related lawsuits. The court is ...

Florida Senate Leader Opposes Immunity for Lawmakers

The incoming Senate president is opposing a proposal that would allow state lawmakers to wrap themselves in absolute immunity from having ...

Mississippi Bar Owners Say Security Guard Proposal Goes Too Far

Hattiesburg nightclub and bar owners say many smaller nightspots would be put out of business by a proposal to require on-site parking lots ...

Trucker’s Widow Settles Mississippi Wrongful Death Claim with Insurer

A trucker's widow has settled her 2011 wrongful death lawsuit with H&M International Transportation Inc.'s insurance company and a ...

Workers’ Compensation Cost Hike Sought in South Carolina

South Carolina employers could see their workers' compensation premiums increase next year if state regulators go along with a proposed ...
South Central

Ex-NFL Players in Louisiana Sue League Over Concussions

Nearly a dozen former National Football League players living in Louisiana have sued the NFL, the latest players to accuse the league of ...

Louisiana Rig Worker Settles with BP Over Explosion

A Louisiana woman who was a cook on the BP PLC-leased drilling rig that was rocked by a deadly explosion in 2010 has settled her ...

Arthur J. Gallagher Buys Louisiana MGA, First Premium Insurance

Global insurance broker Arthur J. Gallagher & Co. has acquired First Premium Insurance Group, Inc. in Covington, Louisiana. Terms of ...
Join Insurance Journal, Western Security Surplus and Markel Corporation as they work to help three children who lost their parents in a tragic accident. Click here for more information.
West

Iowa Judge Orders Porn Site to Pay $4M In Piracy Case

A judge in has ordered the operators of a popular pornographic website to pay $4 million for copyright infringement to an Iowa-based adult ...

Grade 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 ...

Wells Will Determine Groundwater Contamination in Southern California

Thirty wells are being installed in Burbank and Glendale in an effort to determine the extent of groundwater contamination. Small amounts ...

Cellphone Driving Ban Nets 27 Violators in Helena

Police in Helena say they have issued 27 citations in a little over a month following a cellphone ban making it illegal to use hand-held ...

California Earthquake Authority Kicks off Second Marketing Program for Agents

The business of selling earthquake insurance to homeowners may have just gotten a bit easier. The California Earthquake Authority has ...

California Legislator Introduces Smartphone Proof of Insurance Bill

A California legislator has introduced a bill to require auto insurers to issue proof of coverage verification to the mobile electronic ...
Sponsored by: State Fund. We protect the people who make California work. Insuring California Businesses for more than 95 years. That's stability you can count on. Together, we'll keep California working. Click here for more information.
International

Four More Bodies Found on Italian Costa Concordia Cruise Liner

Salvage workers have found four more bodies in the submerged Costa Concordia cruise liner, bringing the confirmed number of dead to 21 on ...

South Korea’s KB Financial Eyes ING Insurance

South Korea's KB Financial Group is interested in buying ING Groep NV's South Korean insurance operations, chairman Euh Yoon-dae said. The ...

Starr Cos. Hires ING Group Exec to Lead Starr Strategic Partners

Starr Companies appointed X. Rick Niu as senior managing director of Starr Strategic Partners, a newly formed division dedicated to serving ...

U.S. Justice Dept. Closes Allianz Indonesia Bribery Probe w/o Charges

The U.S. Justice Department has closed its investigation into whether Allianz SE violated a foreign bribery law through its insurance ...

Best Assigns ‘A’ Ratings to Starr International Insurance (Singapore)

A.M. Best Co. has assigned a financial strength rating of 'A' (Excellent) and an issuer credit rating of "a" to Starr International ...
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Insurance Journal TV

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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

Questions about starting an MGA
Posted: Wed Feb 22 -- Thank all. LadyBroker, thanks for making that distinction. I had no idea about the distinction between MGA and GA. OF course, I know about... paulbennings
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
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
Partnership Questions
Posted: Fri Feb 17 -- I'm in VA. Taylyn
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
claims question
Posted: Fri Feb 17 -- There are cases of candles being defective... A defective... HarrisburgAgent
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

$20M Verdict Upheld in Massachusetts Pool Slide Lawsuit
Posted: Tue Feb 21 -- Sliding down any slide headfirst may be fatal whether the slide collapses or not. Obviously comparative or contributory negligence on the... CB
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
Massachusetts Cardinal Pushes for Contraception Solution
Posted: Tue Feb 21 -- Remember back in the 70's when the Church argued (seriously) that they should be allowed to pay women less than men because the bible says... Kurt
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

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February 20, 2012

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