Friday, April 13, 2012

Daily Headlines: Friday, April 13, 2012

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Insurance Journal Daily Headlines
April 13, 2012
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Today's Headlines

National

Cap on Subsidy of Crop Insurance Premiums Would Save $1 Billion: GAO

A cap on crop insurance premium subsidies could save the federal government up to $1 billion a year, according to a government report. If a ...

Justice Department Testing Little-Used Law in Financial Crisis Cases

An Obama administration task force established to investigate misconduct that fueled the financial crisis is turning to a little-used ...

MF Global Trustee May Sue Company Employees

The trustee liquidating MF Global's broker-dealer said he may bring civil lawsuits against some of the company's employees in connection ...

Safety Regulators Recommend Brake Override on All New Cars

U.S. auto safety regulators on Thursday announced a proposal that would require brake override systems on all new passenger cars and ...

DriveFactor Expands Usage-Based Auto Insurance Programs

DriveFactor, previously known as Crimson Informatics, is offering new auto insurance programs that enable insurers to effectively rate ...

Great American Environmental Division Expands Capacity

Great American Insurance Group's Environmental Division is now offering $35 million per occurrence/ $70 million policy aggregate limits of ...

From MyNewMarkets.com ILO, Munich Re Foundation: Microinsurance Coverage Expanding at Rapid Pace

The number of microinsurance schemes worldwide has increased substantially over the past five years and now reaches an estimated 500 million...
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East

N.Y. Launches Online App for Downloading P/C Rate and Form Filings

New York regulators launched a new online application to make it easier for the public to look at the data used by property/casualty ...

N.Y. Gov. Cuomo Says State to Cover More Flood Costs

New York Gov. Andrew Cuomo says the state will cover more local costs for recovery from the storms that flooded parts of New York last ...

New York Auditors Cite Medical Insurance Overpayments

State auditors say the New York State Health Insurance Program erroneously paid up to $11 million for special items like implants, drugs ...

Northern United Agents Alliance in N.H. Adds New Member

The Northern United Agents Alliance (NUAA), an independent agency partnership based in New Hampshire, added Barton Insurance Agency as a ...

N.J.-based Broker McIntyre Group Announces Promotion

The McIntyre Group, a Cherry Hill, N.J.-based insurance brokerage, risk management and consulting firm, promoted Brian Hall to vice ...
Midwest

Auto Insurance Fee Rekindles Michigan Law Debate

An increase in the amount Michigan drivers will pay into a fund for accident victims with brain damage, paralysis and other catastrophic ...

Ex-Missouri Governor Charged with Mishandling Insurance Firm Donation

Former Missouri Gov. Roger Wilson has been indicted on charges he misappropriated $5,000 from a firm created by the state Legislature to ...

State Auto Estimates Q1 Storm Impact Could Reach $21M

Ohio-based State Auto Financial Corp. has estimated first quarter 2012 results will include between $19 million and $21 million in pre-tax ...
Southeast

West Virginia Permits Access to Driver’s Insurance Information Before Claim

Individuals in West Virginia involved in a traffic accident will soon be able to access the other driver's insurance coverage before ...

Fate of Chattanooga’s Bessie Smith Strut May Depend on Insurance

The question of whether the Bessie Smith Strut remains in downtown Chattanooga or is moved to the Riverbend site may hinge on who takes ...

Tennessee Hoping Federal Program Reverses Recent Rise in Traffic Deaths

After years of declines in traffic fatalities, deaths in crashes are on the rise again in Tennessee. But state highway officials are hoping ...
South Central

Oklahoma Bill Limits Liability for Public Facilities Used as Shelters

A bill to protect public buildings used as shelters during natural disasters from liability claims has been signed into law. Senate Bill ...

Levee.org Seeks Historic Status for Katrina-Damaged Levees

An advocacy group is bypassing the U.S. Army Corps of Engineers and going straight to the National Park Service in a quest to have two ...

St. Landry, Louisiana, School Board Exploring P/C Insurance Options

The St. Landry Parish School Board has voted to begin receiving quotes for the district's property, casualty and liability insurance ...
West

Meteorologist: Tornado Near Stockton, Calif. Not Unusual

The National Weather Service says the tornado that struck five miles outside of Stockton, Calif. on Wednesday was not unusual for this ...

UC, FBI Reach Settlement in Berkeley Raid Suit

The FBI and University of California have agreed to pay $100,000 and destroy computer files to settle a lawsuit stemming from a raid on the ...

California State Fund Reports Drop in Net Premiums

California's State Compensation Insurance Fund released its annual report on Thursday showing just over $1 billion dollars in net ...

Washington Insurance Commish Kreidler Going for 4th Term

State Insurance Commissioner Mike Kreidler said he's seeking a fourth term in office. The Democrat officially kicked off his campaign on ...

Workers’ Class Action Against Brinker Can Proceed, In Part

Part of a class-action lawsuit against Brinker International Inc. can proceed, the California Supreme Court ruled on Thursday, in a closely ...

Insurance Industry Group Hosts Online Political Summit Friday

An industry association is holding an online political summit to bring brokers and agents up to speed on political activities and new laws, ...
International

Are Some Insurers ‘Globally Systemic Important Financial Institutions?

A report from the Geneva Association, "Reflections on a High-Quality G-SIFI Designation Process in Insurance," authored by Daniel Haefeli ...

Japanese Insurers to Limit Iran Oil Voyages in Mideast Gulf – Sources

Japanese insurers are warning ship owners that they will only cover one tanker at a time carrying Iranian crude oil through the Middle East ...

Costa Concordia Salvage to Begin in May

The salvage operation to move the capsized Costa Concordia away from the island of Giglio, where it ran aground three months ago, will ...

Luecke Joins Argo Group as Treasurer

Argo Group International Holdings announced that George Luecke has joined the group as senior vice president and treasurer. His oversight ...

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New Discussions in the Forums

Children's product resale store
Posted: Fri Apr 13 -- I am looking for a market for a client that has a store that sells used children's clothes, toys, and car seats. Located in he State of... mattbalt
looking for feedback/advice please....
Posted: Thu Apr 12 -- When I was saying people on the weekends, I was referring to the vast network of friends/family I have. I was not planning on writing $1m of... bjwestner
CA Electrical Contractor BOP/GL
Posted: Wed Apr 11 -- "Competing" with Farmers is usually like waiting for Godot. You'll get your best coverage with them but if you want to move for money, then... mightyquinn
Executive Suites CA
Posted: Wed Apr 11 -- Hi there, this sounds like a 'suh-weet' risk , ( uggh pardon the pun ... askanunderwriter
One stop shop MGA
Posted: Wed Apr 11 -- In my experience (and imho, ). Bass is a good underwriting outfit with caring staff. I have worked with various members of their... askanunderwriter
ADA Violations
Posted: Wed Apr 11 -- There is also one other answer, at least in California. If your client is willing to pay a certified ADA consultant to come out to the... justthere
Pennsylvania Manufactures Association-PMA, WC
Posted: Tue Apr 10 -- I believe Arrowhead Wholesale Insurance Sercvices writes them in California. ... uwalka03
Why I believe in insurance agents
Posted: Tue Apr 10 -- I believe in insurance agents too. Like In most commercials/ads, we must strip away the entertainment 'value' to get to the real message. nancyg
1 or 2 Dwellings? - CA
Posted: Tue Apr 10 -- Based on the facts as presented, it would seem hard to have the risk seen as a "personal lines" exposure. Best for agent to examine the risk... mccluney

Reader Comments

Cruise Ship to Retrace Voyage of the Titanic
Posted: Mon Apr 9 -- Seems kinda creepy to me... I dunno bout this
Santa Fe Sues Aeropostale For Not Paying Living Wage
Posted: Fri Apr 6 -- Please consider the financial impact of a large corporate retailer competing against local business. Bad enough they have buying power to... CalDude
Severe Weather Has Home Insurers Rethinking Coverages
Posted: Wed Apr 11 -- I beleive overall the insurance carriers are doing a great job keeping up with the changing times, and we have to remember insurance... Two Sided
Mont. Woman Awarded $34M in Insurance Lawsuit
Posted: Wed Apr 11 -- The company refused to pay for the time coverage was denied...come on now. You really think it was an a mistake? How would you feel if it... Wakeup
Force-Placed Insurers on Hot Seat as N.Y. Regulators Expand Probe
Posted: Fri Apr 6 -- It's about time they started policing this. It's been out of control for years. Dan Stewart

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