Tuesday, March 27, 2012

Daily Headlines: Tuesday, March 27, 2012

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Insurance Journal Daily Headlines
March 27, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Applied Systems to Release Epic 6 Agency Program in April

Insurance software company Applied Systems will unveil the latest release of its browser-based agency management software Epic on April 27. ...

Southwest Risk Launches New Habitational Program

Southwest Risk, a national wholesale intermediary specializing in property and casualty risks, has formed a new habitational program ...

FTC Wants Voluntary Online ‘Do Not Track’ System

U.S. regulators are pressuring Internet companies to put in place by the end of the year a "Do Not Track" system that would give consumers ...

AIG CEO Benmosche Says Taxpayers Will Profit on Bailout

AIG expects American taxpayers to end up with a profit of $5 billion to $10 billion on the company's 2008 rescue when all is said and done, ...

Facebook Says Emails Show New Yorker’s Lawsuit a Fraud

Facebook Inc. released emails by founder Mark Zuckerberg from his days at Harvard University to bolster its arguments that a wood-pellet ...

From MyNewMarkets.com FastComp.com Adds Workers' Compensation Coverage in Ten States

Ten new states now have access to workers' compensation coverage from FastComp.com. The states are Kansas, Michigan, Minnesota, Montana,...
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East

N.Y. Court to Unemployed Law School Grads: Buyer Beware

A New York court sided with a law school in a case that alleged that the school misled its students about post-graduate employment ...

Costly Natural Disasters Behind FM Global’s 2011 Net Loss

Rhode Island-based business property insurer FM Global said Monday it had a net loss of $41.5 million for 2011 -- a stark contrast to ...

N.J. Police Chief on Trial for Official Misconduct, Insurance Fraud

A trial got underway on Monday for Hackensack, N.J., Police Chief Ken Zisa. Zisa was suspended without pay in 2010 after he was charged ...

Fund Lawsuit in New York Against Madoff Auditor Dropped

The liquidators of a fund that once funneled money to the now-imprisoned swindler Bernard Madoff have dropped a $900 million lawsuit ...

Philadelphia Insurance Companies Announces Promotions

Philadelphia Insurance Companies announced promotions for three marketing executives. Brian O'Reilly has been promoted from senior vice ...
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Midwest

Disputes Arise Between Home Builders, Owners in Joplin Rebuild

The size and value of homes being built in tornado-ravaged sections of Joplin, Mo., are causing contention between some builders and ...

Iowa Business Tax Overhaul Elusive Once Again

Democrats and Republicans seem to agree that Iowa's commercial property tax is archaic and out of line with other states, but hope is ...

Missouri AG Settles with American Suzuki Motor Corp. over Advertising

Missouri Attorney General Chris Koster has announced a $540,000 settlement with American Suzuki Motor Corp. that resolves allegations that ...
Southeast

Florida Arrests 15 in Alleged Food Truck Insurance Scam

Florida officials said they have busted an alleged $800,000 insurance claims scam in which food trucks were used to stage accidents. ...

K2 Acquires Majority Stake in Midwestern

San Diego, Calif.-based managing general agent K2 Insurance Services LLC has acquired a majority stake in Midwestern Insurance Alliance ...

Alabama Has Not Yet Addressed Home Insurance Costs, Availability

Gov. Robert Bentley has not yet kept a campaign promise he made in 2010 to have the Legislature address the rising cost and declining ...

Supreme Court Gets Florida Dispute Over Vessel vs. Floating Home

Court documents refer to it as "that certain unnamed gray, two-story vessel approximately 57 feet in length." To Fane Lozman, it was a ...

Supreme Court Rejects Tobacco Firm Appeal of Florida Award

The U.S. Supreme Court said on Monday it will not hear an appeal by R.J. Reynolds Tobacco Co. in a Florida case in which it was ordered to ...
South Central

Louisiana Swamp Tour Owners Seek Compensation for Flooding

Iberville and Ascension parishes in Louisiana should compensate the owners of Alligator Bayou Swamp Tours for opening a floodgate in 2009 ...

Some Oklahoma Law Officers Wary of ‘Open Carry’ Bills

Legislation that would allow Oklahomans to display their handguns openly has some law enforcement officials on edge, but many people say ...

Agents Inundated with Customer Calls Following Texas Wildfires

When wildfires began breaking out across Texas last year in April, homeowners began contacting their insurance agents about their coverage ...
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West

EPA Says Montana Plants Need $90M in Upgrades

A proposed cleanup of Montana air pollution would force three industrial plants to spend $90 million on measures to improve visibility in ...

Another Spectator Injured In Reno Air Races Crash Sues

A spectator injured in September's deadly crash at the Reno National Championship Air Races is suing organizers and the pilot. Edward ...

Philadelphia Insurance Taps Three for Leadership Positions in the West

Philadelphia Insurance Cos., a property/casualty and professional liability company for niche markets, promoted three marketing employees ...

Idaho Among 9 States Cited For Big Insurance Hikes

The U.S. Department of Health and Human Services has listed Idaho among nine states where insurance companies are seeking increases in ...
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International

Total: “May be Months” to Stop North Sea Gas Leak

A cloud of explosive natural gas boiling out of the North Sea from a leak at Total's abandoned Elgin platform forced wider evacuations off ...

OECD Says Euro Zone Public Debt Crisis Far from Over

The euro zone's public debt crisis is not over despite calmer financial markets this year, the OECD said on Tuesday, with a warning that ...

Quake Hits Central Chile; No Deaths or Serious Damage Reported

A magnitude-7.1 earthquake struck central Chile Sunday night, the strongest and longest that many people said they had felt since a huge ...

AIR Analyzes Chile Quake: No Tsunami; Minimal Damages Reported

Catastrophe modeling firm AIR Worldwide's report on the earthquake that struck central Chile on Sunday night concludes that, although the ...

Best Affirms AGA International (Ex-Mondial Assistance) Ratings; Outlook Stable

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of ...

Ratings Recap: ACS (NZ) Ltd., Transmonde, Risk Re, Ansvar Australia

A.M. Best Co. has downgraded the financial strength rating to 'B+' (Good) from 'B++' (Good) and issuer credit rating to "bbb-" from ...
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New Discussions in the Forums

Meals on wheels - insured with Farmers currently
Posted: Tue Mar 27 -- Meytai, I wanted to let you know that if you have the client go to ANY Farmers agent they can get the loss runs for them. Any Farmers agent... Eagleeye
E&O Coverage
Posted: Mon Mar 26 -- Folks, event though you may possibly be in a position to place this direct. I urge you to review terms with what the E&S Arena can offer in... Adame526
Lessor Risk liability vs tenant liability
Posted: Fri Mar 23 -- Do your carriers require tenant liability for 'lessor's risk' policies? if so, this would be set forth in the underwriting guidelines and/or... darnovak

Reader Comments

Supreme Court Begins Healthcare Law Debate
Posted: Mon Mar 26 -- Let the games begin. Whatever side you are on, this will be an historic event. A reminder that while our system is still not perfect, it is... original bob
Facebook, Lawmakers Warn Employers Not to Demand Passwords
Posted: Mon Mar 26 -- I would love a list of the companies that are asking for facebook passwords. As a consumer, I might choose not to buy their products or... NotOpinionated
Family of Los Angeles Gang Member Awarded $3M In Lawsuit
Posted: Thu Mar 22 -- I hope the city appeals this all the way to the Supreme Court. That way, at least this lowlife family (who surely knew, yet did nothing... Mike N
4 GOP-Appointed Justices Control Obama Health Law's Fate
Posted: Tue Mar 20 -- Why is the article about only the court appointees that have been appointed by GOP presidents. Are the democratice judges so "mindless",... jeff turner
6 Ways Supreme Court Could Rule on Healthcare Law
Posted: Thu Mar 22 -- The responses are nothing more than editorial comments. They are neither valid or substantiated. They are, however, clearly biased. reader

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