Thursday, March 8, 2012

Daily Headlines: Thursday, March 8, 2012

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Insurance Journal Daily Headlines
March 8, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Alleghany and Transatlantic Complete Merger

Global specialty insurer Alleghany Corporation and reinsurer Transatlantic Holdings announced this week the completion of their previously ...

AAIS and Hartford Boiler Team up for Data Compromise Coverage

The American Association of Insurance Services (AAIS) and The Hartford Steam Boiler Inspection and Insurance Co. (HSB) are developing data ...

U.S. to Sell $6 Billion in AIG Stock; AIG to Pay More to Taxpayers

The U.S. Treasury Department said on Wednesday it will sell $6 billion worth of American International Group stock and struck another deal ...

Fannie Mae Changing ‘Forced-Place’ Home Insurance Rules

The practice of banks forcing expensive homeowners insurance on borrowers could come to an end after Fannie Mae told lenders it would seek ...

Whistleblower Says BofA Defrauded Home Loan Remodification Program

Bank of America NA prevented homeowners from receiving mortgage-loan modifications under a federal program in order to avoid millions of ...

From MyNewMarkets.com Wealthy Americans Fear Costly Lawsuits

America's wealthiest families increasingly worry that their wealth alone makes them a prime target for a high-stakes liability lawsuit in...
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East

Ban on Texting While Driving in Pennsylvania Goes Into Effect

A new state law requiring Pennsylvania drivers to pull over and stop if they want to use text-based communications went into effect at ...

Mass. Commissioner to Hold Hearing on 19.3% WC Rate Hike Request

Massachusetts insurance commissioner Joseph Murphy will hold a public hearing March 30 to examine a rate increase request from The Workers' ...

Boston Consumer Group Sues 8 Drugmakers Over Drug Coupons

Eight drugmakers are being sued by a consumer advocacy group that alleges their programs offering coupons that lower the cost of copayments ...

Glitch Gives MaineCare to Ineligible Recipients

State officials say they're trying to determine the overall cost of a computer malfunction that resulted in 19,000 people receiving checks ...

Great American Insurance Appoints Divisional VP in Connecticut

Great American Insurance Group promoted Stephanie Hoboth to divisional vice president of its fidelity and crime division in Windsor, Conn. ...
Midwest

Missouri Senators Look at Changes to Workers’ Comp Insurer

Missouri senators are looking at changing a state-created insurance company after an audit criticized the firm's operations and expenses. ...

Kansas Agent Sentenced to Jail; Must Return $137K to Victims

A former Pittsburg,Kan., insurance agent will have to pay back more than $137,000 to victims of forgery and theft following a Kansas ...

USI Acquires Illinois-Based Euclid Insurance Retail Business

USI Insurance Services (USI), headquartered in Briarcliff Manor, N.Y., has acquired the Euclid Insurance retail property/casualty and ...

Indiana Storm Victims Get More Time to Pay for Insurance

The Indiana Department of Insurance is telling insurers to give victims of recent southern Indiana tornadoes an extra two months to pay ...

Minnesota Gov. Dayton Vetoes Deadly Force Bill

Minnesota Gov. Mark Dayton has vetoed a bill that would have expanded the cases in which people could use deadly force, siding with ...
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Southeast

Lawmaker Halts Effort to Ease West Virginia Motorcycle Helmet Law

Efforts to ease West Virginia's motorcycle helmet law have been stopped short by the bill's advocate, who pledged to fight for legislation ...

West Virginia Lawmakers Pass Mine Safety Measure

West Virginia will update its mine safety laws in the wake of the worst U.S. coal mining disaster in four decades. The House of Delegates ...

Argenia Offers Wrap Around Policy for Florida Citizens Policyholders

Arkansas-based surplus lines broker Argenia has created a new Florida program designed to cover the reduction of coverage under Citizens ...

Georgia Preliminary Storm Damage Estimate at $40M

Georgia's state insurance commissioner said the estimate to repair damage from Friday's storms has hit $40 million in insured losses. ...
South Central

Texas Mutual Adds Jackson as Sr. Manager of Underwriting, Marketing

Workers' compensation insurance provider Texas Mutual Insurance Co. has hired Bill Jackson as senior manager of underwriting and ...

Central Texas Wildfire Victims Benefit from $4M in Donations

Parts of Central Texas devastated by wildfires last year have benefited from more than $4 million in private donations and the help of ...

Plaintiffs in Louisiana Citizens Insurance Suit to Seize Cash

The plaintiffs who won a $92.8 million judgment against Louisiana Citizens Property Insurance Corp. three years ago plan to seize the ...

Texas Arson Hotline Nabs 4 Suspects

Four San Angelo juveniles are suspected of setting fire to an abandoned San Angelo hotel and the arrests may lead to solving other ...
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West

Wyoming Bill Would Pay For Voluntary Work Inspections

A proposal aimed at increasing workplace safety in Wyoming would pay for five consultants to conduct voluntary inspections. The consultants ...

$362K Settlement Approved For Ex-Assistant Sheriff In Southern California

Orange County supervisors have approved a proposed $362,000 settlement for an improperly fired ex-assistant sheriff. City News Service says ...

Border Patrol Agents’ Widows File Suit in Airzona Crash

The widows of two U.S. Border Patrol agents killed in a train accident near Gila Bend have sued the railroad and the irrigation district ...

Utah Replacing 73 State Vehicles With Hybrids

Utah officials are replacing 73 vehicles in the state's fleet with fuel-efficient hybrids this year as part of Gov. Gary Herbert's clean ...

$1M Available For Pacific Islands Coastal Storm Preparedness

More than $1 million in coastal hazard research grant money is available to communities throughout the Pacific Islands region to help plan ...

11 Washington Counties to Get Federal Disaster Aid

President Barack Obama on Monday signed a federal disaster declaration for 11 Washington counties for damages and costs suffered during ...

Portland Sues Former Insurance Company Over Claims

Portland is suing a former insurance carrier for $1.5 million in legal defense costs for claims involving nine employees. The city says the ...

Judge Urges Los Angeles Dodgers, Beaten Fan to Reach Settlement

The Los Angeles Dodgers and the family of a baseball fan who was badly beaten at a game last year were encouraged by a bankruptcy judge to ...

Lawyer Claims Highest Known Workers’ Comp Settlement in California History

Attorney Christopher Asvar believes he has secured the highest known workers' compensation insurance settlement in California history, ...
International

QBE Forming Global Reinsurance Business – QBE Re

The QBE Insurance Group announced that it is combining its worldwide reinsurance operations under a single management team and unified ...

Survey Finds Emerging Markets’ Growth in Auto Financial Services

A survey from London-based Finaccord found that in ten emerging economies, surging car sales have doubled the value of their automotive ...

Willis Chief on Non-Traditional Risks Facing Airlines; Asia-Pacific Growth

Joe Plumeri, Willis Group Holdings Chairman and CEO, told attendees at the Willis Asia Pacific Aviation Insurance Conference in Hong Kong ...

Thai Reinsurance Expects 2012 Loss from Floods

Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country's leading reinsurer is hit by higher provisions ...
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Sponsored Content

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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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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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New Discussions in the Forums

Meals on wheels - insured with Farmers currently
Posted: Wed Mar 7 -- I have a meals on wheels service that wants to move their account.. but i do not know who to write this through.. i have access to... meytai
Pet Cremation
Posted: Tue Mar 6 -- Any admitted carriers do Pet Cremations? Thanks JAM
Going from Retail to Wholesale in CA
Posted: Tue Mar 6 -- Hello, Our plans are to move from the Retail to Wholesale. My office receives 2-5 calls a week from retailers who want to get appointed with... InsureTime
Work Comp (CA) - Code 9053-2 Health/Fitness Club w/Ch.11 BK
Posted: Tue Mar 6 -- Hello, Does anyone have a market for a gym. Payroll 860,000 class code 90653-2 with Ch.11 BK. No coverage in place since October 2011. Non... InsureTime
How do you ask for a referral?
Posted: Tue Mar 6 -- thanks Sacman for letter I am using something similar as a letter but your is better so I am tweaking mine William Graham
Producer Compensation-Florida
Posted: Tue Mar 6 -- Follow up question is, How do agents compensate their producers on renewal? I own a small agency and has a very good relationship with my... saabins
Licensed vs non licensed CSR ( CA)
Posted: Mon Mar 5 -- You are absolutely right. Recently we were looking for a new CSr and I was surprised by the number of CSR resumes we were getting that did... JAM
ADA Violations
Posted: Mon Mar 5 -- I have a fast food client who was hit by 2 of these, in my opinion, serial litigists. Between the 2 individuals, they have filed 110 ADA... waves101

Reader Comments

New York's Cardinal Urges 'Freedom of Religion Battle'
Posted: Mon Mar 5 -- 28 states already have this requirement. Why the fuss now? Because it's related to health care reform. ComradeAnon
Immigrant Files $1M Claim Against Arizona Sheriff
Posted: Wed Mar 7 -- Per other news sources, the lover was legally here, but on a tourist visa, which means he couldn't legally work on the campaign. Hell hath... Anejo
Wealthy Americans Fear Costly Lawsuits
Posted: Tue Mar 6 -- It is a race...Who gets the money first...Obama or the blood sucking ambulance chasers. Of Course
Driving on 'High'-way: Many Teen Drivers Admit Having Driven After Pot
Posted: Fri Mar 2 -- In a related survey, 52% of teens surveyed admitted to taking surveys under the influence of marijuana. Cheetoh Mulligan
Insurance Exec Pleads Guilty in Wisconsin to Intoxicated Flying
Posted: Wed Mar 7 -- Help me out here legal people. If he never flew a plane wouldn't a guilty plea be perjury? Anejo

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Current Issue
Hospitality Risks Directory; Homeowners & Auto; Technology & New Media Risks
March 5, 2012

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