Thursday, March 15, 2012

Daily Headlines: Thursday, March 15, 2012

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

Today's Headlines

National

Whistleblowers Reaping Rewards in U.S. Mortgage Suits

Troubled homeowners are not the only ones set to get a financial lift from the U.S. government's $25 billion landmark mortgage settlement. ...

Millions in U.S. at Risk from Rising Sea Levels: Report

Sea level rise due to global warming has doubled the annual risk of coastal flooding of historic proportions across widespread areas of the ...

Departing Goldman Sachs Banker Slams ‘Rip-Off’ Culture

Goldman Sachs faced an unprecedented assault from one of its own on Wednesday after a banker published a withering resignation letter in ...

Catastrophe Frequency, Tornadoes Test Insurers in U.S.: A.M. Best

According to A.M. Best Co., the frequency of catastrophe weather events represents the "new normal" for the insurance industry. "The ...

From MyNewMarkets.com Japan Earthquake Anniversary a Reminder of Need for Supply Chain Coverage

The devastating earthquake and tsunami that hit Japan on March 11, 2011, caused massive supply chain disruptions, exposing the complexity...
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East

N.Y. Court Enforces Flood Insurance Policy’s Proof-of-Loss Requirement

A New York appeals court recently affirmed a lower court's ruling that a homeowner was not entitled to coverage under the policy from the ...

RIMS Commends N.Y. Broker Compensation Disclosure Ruling

The Risk & Insurance Management Society is applauding the New York appeals court for upholding the broker disclosure rule. "Consumers ...

Pennsylvania Guard Suspended Over Insurance Fraud Charges

A guard at the Allegheny County Jail in Pittsburgh has been suspended without pay because police say she filed a false claim that her car ...

Trial Date Set for Former N.J. School Chief Accused of Insurance Fraud

A federal judge has set an April 9 trial date for a former New Jersey schools superintendent accused of corruption. But a decision on ...
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Midwest

Polansky Joins Project CAP as Senior Business Leader

Brady Polansky has joined Minneapolis, Minn.-based Project CAP — created through alliance of the Independent Insurance Agents and Brokers ...

Corogenes Joins ThinkRisk in Kansas City

Laura Corogenes has joined ThinkRisk, a subsidiary of Ryan Specialty Group, as senior vice president and branch manager of ThinkRisk's ...

Arthur J. Gallagher Acquires Human Resource Management Systems

Insurance broker Arthur J. Gallagher & Co. has acquired Human Resource Management Systems LLC in Naperville, Ill. Terms of the ...

Former South Dakota Deputy, Insurance Agent Sentenced for Fraud

A South Dakota sheriff's deputy and former insurance producer who pleaded guilty in an insurance fraud case has been sentenced to about 2 ...

Pilot Project in Kansas, Missouri, Seeks Better Storm Warnings

When weather radios start sounding warnings in the Wichita, Kan., area this spring, the computerized voice nicknamed Chance Storms won't ...
Southeast

How Workers’ Compensation Fared in 2012 Florida Legislature

While their debates over property insurance and no-fault auto insurance consumed the attention of state officials and the media, Florida ...
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South Central

Oklahoma AG Files $18.6M Settlement with Mortgage Banks

The Oklahoma Attorney General's Office has set a Sept. 13 deadline for residents to apply for compensation under the state's $18.6 million ...

Oklahoma Tops in Prescription Painkiller Abuse

Sherri Carwithin was lying on the hardwood floor of her south Oklahoma City home when police found her body, clad in pajama bottoms and a ...

Oklahoma Senate Rejects Phone Ban for Teen Drivers

The Oklahoma Senate has rejected a proposal that would have prevented teenagers from using cell phones while driving. The Senate voted ...
West

Federal Aid Likely For Hawaii Wild Weather Damage

Hawaii Civil Defense officials are still compiling damage totals from recent days of wild weather, but preliminary figures show the state ...

Idaho Senate Votes to Ease Workers Comp For Firefighters

Senate lawmakers have endorsed a bill to better protect Idaho firefighters who contract cancer. The Senate voted 23-10 Monday to pass ...

$350K Added For Hawaii Electric Vehicle Rebates

Hawaii is adding more money to an electric vehicle rebate program and extending the deadline for the rebates. State officials said Tuesday ...

Alcohol-Related Traffic Deaths In New Mexico Slightly Up

State records show that alcohol-related deaths from traffic crashes in New Mexico rose slightly. Preliminary Traffic Safety Bureau records ...

Vicarious Liability Ruling May Impact Education Insureds in California

The California Supreme Court ruled that a public school district may be vicariously liable for the negligent hiring, retention and ...

Northern California Strongwood's Humes Retires

Brent Humes has retired from his position as executive vice president of Monterey, Calif.-based Strongwood Insurance Holdings Corp. Humes ...
International

PCI Applauds Global Regulators' Expanded Timeline for G-SII Rules

The International Association of Insurance Supervisors (IAIS) announced that its timetable with the Financial Stability Board (FSB) to ...

Allianz Teams with Experts to Assess Climate Change Impact on Insurers

Europe's largest insurer, Germany's Allianz SE, posed the following question: "How does climate change affect the business model of a large ...

AIG, Atradius Execs Join Micro-insurance Investor LeapFrog for Africa, Asia

LeapFrog Investments, an investment fund focused on insurance and financial services companies, announced two senior appointments as it ...

PERILS Lowers Loss Estimates from Windstorm Joachim to $377 Million

PERILS, Europe's catastrophe data provider, has updated its loss report for windstorm Joachim, which occurred from December 15 to 17, 2011 ...

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Insurance Journal TV

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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...
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Should D&O Cover Bribery?

Director and officers liability coverage is increasingly being called up to respond to cases...

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New Discussions in the Forums

EIFS coverage homes & commercial buildings/FL
Posted: Thu Mar 15 -- Looking for a carrier that will provide coverage for homes & commercial buildings in SW FL. Thank you! Heather 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

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
Pennsylvania Christian College Sues Over Birth Control Regs
Posted: Thu Mar 8 -- Seriously - the buttons have been hacked. Uh oh! Gotta go - there's a black helicopter hovering outside my window. Where's my tinfoil hat? The Other Point of View
Florida House, Senate Differ on PIP Reform; Special Session Possible
Posted: Fri Mar 9 -- Correct. As for the comments by Doctor, before he makes a blind comment that insurance companies stuff their pockets with profits, he should... Former Status Quo
'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
Wealthy Americans Fear Costly Lawsuits
Posted: Thu Mar 8 -- Hi Agent, You are WRONG. I agree with Other, and hundreds of my friends and acquaintances do as well. Kurt

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