Daily Headlines: Friday, March 16, 2012

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March 16, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Oil Spill Panel to Issue Drilling Safety Report The seven-member commission selected by President Barack Obama to investigate the Gulf oil spill is getting back together. This time, it ... MBIA Reportedly Ready to Settle with UBS Over Restructuring UBS AG has agreed to settle litigation against MBIA Inc. that challenged the bond insurer's 2009 restructuring, people familiar with the ... SEC, Citgroup May Win Appeal in Mortgage Fraud Case A federal appeals court stopped just short of throwing out a judge's controversial rejection of the U.S. Securities and Exchange ... Towers Watson Receives Patents for Risk Modeling Technique Towers Watson said it has won two U.S. patents for its financial modeling technique designed to help insurance executives statistically ... Lexington Offers New Coverage for Conservation and Mitigation Banks Lexington Insurance Co. has introduced a first-party coverage for conservation and mitigation banks, organizations designed to provide ... Commercial Lines Pricing Up for 4th Straight Quarter Commercial insurance prices increased an aggregate 3 percent during the fourth quarter of 2011, the fourth consecutive quarter during which... More National News East N.Y. Agents Tell Senate Panel of Flood Insurance Claims Hassles A director of the Independent Insurance Agents & Brokers of New York told lawmakers and regulators this week that New Yorkers are dealing ... Maryland Senate Votes to Ban Smoking in Cars with Kids The Maryland Senate wants to prohibit drivers from smoking in cars if a child under the age of 8 is a passenger. Senators signed off on the ... Vermont, FEMA Join Forces to Buy Out Flood-Prone Properties Vermont and the Federal Emergency Management Agency are joining to put $19.8 million toward buying out properties that are prone to ... Pedestrian Safety Program Launched in Ocean City, Maryland The State Highway Administration has launched a program to reduce jaywalking across Coastal Highway in Ocean City. The three-year pilot ... William Gallagher Associates Appoints Senior VP in New Jersey William Gallagher Associates, a Boston-based broker and risk management services provider, hired David Bachrach as senior vice president in ... Aspen Insurance, Swiss Re Execs Join AIA Board Mario Vitale, co-CEO of Aspen Insurance in New York, and Robert Solitro, chairman of Swiss Re Corporate Solutions U.S. Cos. in Manchester, ... More East News Midwest Commerce Department: 23 Cars Stolen Every Day in Minnesota On average, 23 cars are stolen - or almost one car per hour - every day in Minnesota, state officials say. Nearly 8,400 vehicles were ... Illinois to Recalculate Storm Damage Cost for FEMA The Federal Emergency Management Agency has given Illinois more time to recalculate the tornado damage to southern parts of the state to ... Ohio Court: Builders Must Construct Homes in ‘Workmanlike Manner' Ohio's high court has held that home builders have a duty imposed by law to construct a home "in a workmanlike manner using ordinary ... Iowa School Bus Safety Bill Heads to Governor Lawmakers in Iowa have sent to the governor a bill increasing penalties for failing to heed school bus warning devices. Kadyn's law is ... More Midwest News Southeast Mississippi House, Senate Divided Over Workers’ Compensation Changes The Mississippi Legislature is split on a bill that would make changes to the state's workers' compensation law. Opponents say it would ... Insurance Exec Blasts Florida Inaction on Hurricane Fund, Citizens Florida lawmakers have put taxpayers at risk by not reforming the Florida Hurricane Catastrophe Fund or Citizen's Property Insurance ... South Carolina Lawmakers Delay Liability Cap Vote A South Carolina legislative panel opted this week to postpone voting on a bill that would exclude medical expenses from the $600,000 ... Kentucky Orders Halt to Insurance Cancellations in Tornado-Stricken Areas Kentucky Gov. Steve Beshear has signed an executive order prohibiting insurance companies from canceling policies or changing rates in ... Kentucky Supreme Court Hears Amish Buggy Case The Kentucky Supreme Court heard arguments Thursday from a group of Amish men who have refused to use a reflective traffic sign on their ... More Southeast News South Central Federal Court Tosses Jury Award in Katrina Jail Lawsuit A Louisiana federal appeals court on March 12 threw out a jury's award of more than $650,000 to two Ohio tourists who were arrested in ... Louisiana Lawmaker Loses Insurance Committee Post Over Vote A state lawmaker has been ousted from his leadership position, a day after voting against a tax break sought by Louisiana Gov. Bobby ... Oklahoma Insurance Agent Charged with Embezzlement An insurance agent in Oklahoma has been charged with embezzlement, authorities say. Oklahoma Insurance Commissioner John D. Doak and ... More South Central News West PG&E, Subcontractors Agree To Settlement In Fires Pacific Gas and Electric Co. and two of its subcontractors have agreed to pay $29.5 million to settle lawsuits over fires in national ... Alaska Bill Bans Teens On Cellphones While Driving A divided House committee has advanced a bill that would prohibit teens from talking on the phone while driving. Anchorage Democratic Rep. ... Jury Makes $432,000 Judgment Against Oregon DHS A Clackamas County jury concluded the Oregon Department of Human Services was partially responsible for the death of an infant who died in ... Colorado Settles Lawsuit Against Westwood College Westwood College has agreed to pay $4.5 million to settle a lawsuit the state of Colorado filed alleging the school misled prospective ... WCIRB Report: Premium Grew But Claim Severity Continues to Rise An annual report from the Workers' Compensation Insurance Rating Bureau of California shows that for the second consecutive year ... More West News International Willis Warns Companies to ‘Wake up to Cyber Threats,’ Liabilities Company Directors must wake up to cyber threats or they risk litigation from all sides, warned  Francis Kean of Willis Group Holdings. ... EU Foreign Ministers Set Talks on Tanker Insurance for Iran Oil Embargo EU foreign ministers are expected to discuss how the bloc's Iran oil embargo will impact shipping insurance when they hold a scheduled ... Thailand’s Thanachart Bank Ready to Sell Insurance Ops Say Souces Thailand's Thanachart Bank Pcl, backed by Canada's Bank of Nova Scotia, is preparing to sell its insurance operations in a deal could fetch ... More International News Join the Insurance Journal Network Insurance Journal TV Claims Rising for Private Company, Non-Profit D&O Coverage Private company and non-profit D&O coverage is often seen as very profitable for carriers... Watch Now Should D&O Cover Bribery? Director and officers liability coverage is increasingly being called up to respond to cases... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Good company for Coast to Coast Truck Drivers Posted: Thu Mar 15 -- Hello! I am an independent agent in Philadelphia PA. Can anyone recommend good insurance company for truckers (vehicle liability, physical... curve_1 EIFS coverage homes & commercial buildings/FL Posted: Thu Mar 15 -- these building risks have existing EIFS which makes obtaining coverage in SW FL difficult... Thank you haharem Partnership Questions Posted: Wed Mar 14 -- Taylyn, we opened an IA after being a captive for 22 years- we elected to go with an SIAA relationship - we went with them because of... William Graham Workers compensation in CA Posted: Tue Mar 13 -- We can write them with Companion. 25K MP and need to be pretty clean from a loss standpoint. NorthernStar1 Farmers - Loss Runs - Fax NumbeR? Posted: Tue Mar 13 -- I don't know what state your agency is located, California, "REQUIRES BY CODE" loss runs be sent to an insured within 10 days of the request... CSP Meals on wheels - insured with Farmers currently Posted: Sat Mar 10 -- hi ladybroker Thanks for your responses.. and everyone else as well.. Philadelphia seems to be the market to take this on. Well.. it turns... meytai Claims question Posted: Fri Mar 9 -- I was wondering if a decision regarding your query has already been made and if you were held liable? If I was the tenant and knowing you... robmejia Go to Forums Reader Comments Administration Issues Rules for State-Run Health Insurance Exchanges Posted: Tue Mar 13 -- Hopefully, these exchanges will not go into force if we get repeal through either the Supremes or the new President. Mike New York's Cardinal Urges 'Freedom of Religion Battle' Posted: Fri Mar 9 -- You're doing a good job at it. A Capella 'Super Losses' in Healthcare Sector Growing in U.S.: Hiscox Posted: Tue Mar 13 -- How about some Tort Reform? There is no way they should be having awards like this. It is a big factor in the cost of healthcare and all... Agent Cost of Obama Healthcare Law Lowered Under Latest Congressional Analysis Posted: Thu Mar 15 -- Michelleyoudingdongbell, So you passed your english class, but you should have taken a math class. An additional 7 Trillion in debt is just... Sarah Millions in U.S. at Risk from Rising Sea Levels: Report Posted: Thu Mar 15 -- Liberals, Get out of your coastal property --- NOW. I will be more than happy to purchase from you for one dollar. I might even help you... 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