Tuesday, March 13, 2012

Daily Headlines: Tuesday, March 13, 2012

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Insurance Journal Daily Headlines
March 13, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

‘Super Losses’ in Healthcare Sector Growing in U.S.: Hiscox

The overall cost and frequency of so called $50 million plus "super losses" in the U.S. healthcare insurance sector are on the rise. ...

Tetrault Named Counsel for Insurer Group NAMIC’s State, Policy Affairs

The National Association of Mutual Insurance Companies (NAMIC) has named Paul Tetrault to the position of state and policy affairs counsel. ...

Administration Issues Rules for State-Run Health Insurance Exchanges

The Obama administration on Monday released broad new operating rules for state-run health insurance exchanges, which form a key part of ...

Yahoo Sues Facebook Over 10 Patents

Yahoo Inc. sued Facebook Inc. over 10 patents that include methods and systems for advertising on the Web, opening the first major legal ...

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

Massachusetts Bill Would Require Insurance for Tunnels

Massachusetts lawmakers are weighing a bill that would require privately-owned tunnels to be insured if the tunnels are used by the ...

Marsh & McLennan Agency Acquires KSPH in Virginia

Marsh & McLennan Agency, a unit of March Inc. acquired KSPH, a $5 million revenue employee benefits agency in Glen Allen, Va. Launched in ...

N.Y.-based Sterling & Sterling Appoints Senior VP

Sterling & Sterling appointed industry veteran Betsy Good to the newly created position of senior vice president, director of strategy. In ...
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Midwest

Menary Named Grinnell Mutual VP – Direct Underwriting, Production

Jeff Menary has been named as vice president of direct underwriting and production at Iowa-based Grinnell Mutual. During Menary's 32-year ...

Norman-Spencer Adds Keeter as Marine Insurance VP of Dealer Services

Norman-Spencer Agency Inc. announced that Phil Keeter has joined its Marine Insurance Services Division as vice president of dealer ...

Griffith Foundation Awards Nearly $32K in Scholarships

The Griffith Insurance Education Foundation, based in Columbus, Ohio, has awarded $31,700 in scholarships to 26 students at seven colleges ...
Southeast

South Carolina Jury Awards Family $700K in Deadly Crash with Deputy

A jury has awarded $700,000 to the family of a 21-year-old man killed in a head-on crash with a Colleton County deputy who was racing to ...

West Virginia Passes Ban on Texting While Driving

West Virginia lawmakers ended their 60-day legislative session over the weekend by passing agreements on fighting methamphetamine labs and ...

Feds Claims Kentucky Mine Owes $1.6M in Safety Fines

Federal mining officials are suing a southeastern Kentucky mine for more than $1.6 million owed in delinquent fines for violations of ...

Palomar Buys Martin Grace Benefit Group in Alabama

Palomar Insurance Corp, a Montgomery, Alabama-headquartered insurance brokerage, said it has acquired Martin Grace Benefit Group Inc. in ...

Home Value Protection Product Heads to Georgia

An insurance policy for homeowners looking to protect themselves from declining home prices is rolling out in Georgia this week. Georgia ...

Florida’s Citizens CEO Wallace to Join Homeowners Choice

The man who is leaving his post as chief executive officer of Florida's state-backed Citizens Property Insurance Corp. is joining one of ...
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South Central

Texas Mutual Insurance Co. Names Huckaby General Auditor

Workers' compensation insurance provider Texas Mutual Insurance Co. has named Bill Huckaby as its new general auditor. Huckaby previously ...

Federal Disaster Audit Recommends Texas Repay $9M

A federal audit has recommended that Texas repay $9 million in alleged overcharges related to administration of hurricane recovery funds. ...

Oklahoma to Adopt ACORD Form for Loss Reporting

Oklahoma Insurance Commissioner John D. Doak announced from the 2012 National Tornado Preparedness Summit his intent to standardize ...
West

Confie Seguros Acquires Power Auto in California

New York, N.Y.-based Confie Seguros, a national provider of personal lines insurance focused on Hispanic consumers, acquired Power Auto ...

Family Sues UDOT Over Teen’s Death At Sinkhole

The family of a 15-year-old Tabiona girl who died when their Ford Excursion crashed into a 20-foot-deep sinkhole is suing the Utah ...

Resort Firm Faces Second Lawsuit Over Ski Accidents

Two skiers injured in separate collisions with snowboarders have filed lawsuits against a Lake Tahoe, Nev. resort claiming it was part of a ...

Union General Offers Homeowners Coverage

Union General Insurance Services is now offering coverage for homeowners associations to California agents. The product is designed to ...

Magnitude-3.1 Earthquake Off Oregon Coast

Seismologists say they've detected a magnitude-3.1 earthquake off the Oregon coast. The U.S. Geological Survey reports the quake occurred ...

Poms Names Flannery VP of Property/Casualty in Southern California

Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. named Martin V. Flannery vice president in the property/casualty ...

Report: Increasing Workers' Comp Losses For California Public Self-Insureds

A analysis of more than 10 years' worth of data shows for the fifth consecutive year increases in the average loss per claim, led by ...

XL Group’s Construction Business Expands West

XL Group plc's North America Construction is establishing a west coast underwriting operation in San Francisco, Calif. XL is  setting up ...
International

Debt Ridden India Makes More Claims on its Insurance Giant

An Indian government company with more than a quarter of a billion customers has once again dug into its pockets to prop up its ...

Munich Re Confirms 2011 Profit at $937 Mn; Forecasts $3.3 Bn in 2012

Munich Re's official results largely confirm earlier estimates, made at the beginning of February. The world's largest reinsurer, however, ...

Talbot, Abu Dhabi Insurer End Joint Venture; Continue Commitment

Talbot Underwriting, Ltd., a wholly owned subsidiary of Validus Holdings, and Abu Dhabi National Insurance Company (ADNIC), a prominent ...

Best Report: Saudi Arabia's Insurance Market Adapts to Change

The insurance market in Saudi Arabia has changed dramatically in the past decade, with further development anticipated, according to a ...

Best Affirms RSA Canada, Subs and Holding Company Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Royal & ...

$27.2 Billion Lawsuit Against Big Tobacco Starts in Montreal

Canada's three biggest tobacco companies, all with multinational parents, face C$27 billion (US$27.20 billion) in damages and penalties as ...
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Claims Rising for Private Company, Non-Profit D&O Coverage

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Should D&O Cover Bribery?

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New Discussions in the Forums

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
Workers compensation in CA
Posted: Mon Mar 12 -- You will probably have to go to State Compensation Insurance Fund. No company I know of wants driving exposure. Bob Lake
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
Partnership Questions
Posted: Sat Mar 10 -- I've decided to go out on my own. I'll be opening an independent agency soon. I'm trying to decide which cluster/network to join... Taylyn
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

Reader Comments

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
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
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
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
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

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