Monday, April 23, 2012

Daily Headlines: Monday, April 23, 2012

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Insurance Journal Daily Headlines
April 23, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Republicans Prepare Should Supreme Court Overturn Healthcare Plan

Republicans in Congress are getting ready to answer an election-year question that has dogged the party's campaign for months: How would it ...

Current Market Not Yet a ‘Classic’ Hard Market: P/C Executives

The current property/casualty market is not a "classic" hard market, yet anyway. While prices are clearly rising in certain lines ...

Senate Bill Would Revamp Federal Crop Insurance Program

U.S. farm subsidies would get a 21st Century make-over to protect grower revenue from ruinous losses, the biggest threat to their ...

OSHA Hit for Taking Too Long to Adopt Workplace Safety Rules

The nation's premier worker safety agency takes nearly eight years on average to adopt new safety regulations, government auditors said in ...

U.S. Tells Industry to Further Test Safety of Nanotechnolgy Products

U.S. health regulators said consumer products that use nanotechnology may have unknown effects on the human body, and advised food and ...

Citigroup CEO, Directors Sued Over Executive Pay

Days after being rebuked by shareholders, Citigroup Inc. Chief Executive Vikram Pandit and the bank's directors have been sued by a ...

Best Affirms Chubb Corp. and Subs ‘A++’ Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A++' (Superior) and issuer credit ratings (ICR) of "aa+" of the ...

Travelers Enhances Cyber Product for Tech Firms

Travelers has introduced an enhanced version of its product-suite CyberFirst with eight first party coverage options designed for ...

Some Acceleration Claims Against Toyota Dismissed

Toyota Motor Corp. has won the tentative dismissal of some claims in the class-action lawsuit brought by owners of its vehicles over ...

From MyNewMarkets.com Only 1 Out of 4 Companies Buying Cyberinsurance

Nearly three in four corporate risk managers are not buying insurance policies to cover data breaches and damage to customers' privacy...
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East

Firm Pleads Guilty in Va. Court to $670M Insurance Fraud Scheme

A Costa Rican company has agreed to plead guilty to a $670 million global insurance fraud scheme. Provident Capital Indemnity Ltd. entered ...

Massachusetts Seeks Pool Safety Steps After Drowning Probe

Massachusetts officials say they will not be opening slides at state-run pools this summer following a drowning. The decision stems from a ...

New York to Get $61M in Drug Company Settlement on Vioxx

New York Attorney General Eric Schneiderman says New York will get $61 million from last week's national settlement with drug maker Merck & ...

Pennsylvania Farmers Highlight Safety on Rural Roads

Jim Rexroth knows what happens when drivers don't pay attention to large farm equipment traveling on rural roads. The Lower Windsor ...
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Midwest

Missouri Bill Would Limit Whistleblower Protections

About a month after Democratic Gov. Jay Nixon vetoed changes to Missouri's workplace discrimination law, Republicans lawmakers are pushing ...

Tornado Cost Wichita, Kansas Area $146.3M

Sedgwick County, Kansas, officials say the tornado that hit Oaklawn and southeast Wichita caused an estimated $146.3 million in damage. ...

Strategic Insurance Agency Alliance Adds 5 Midwest Agencies

The Strategic Insurance Agency Alliance (SIAA) announced it signed five new agencies in the Midwest during March. The new Midwest agencies ...
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Southeast

North Carolina Employers Face Jail Time Over Uncovered Workers’ Claims

North Carolina officials are requiring insurers to expedite the payment of workers' compensation patients medical and wage-loss benefits ...

Alabama Attorney General Urges Judge to Set BP Trial Date

Alabama Attorney General Luther Strange has urged a Louisiana federal judge to set a trial date to hear claims of lost revenue by Alabama ...

Florida Massage Therapist, 14 Patients Charged with Insurance Fraud

Florida officials said they have arrested a licensed massage therapist, a physician's assistant and 14 massage clinic patients on charges ...
South Central

Solution for Disaster Recovery? House in a Box, Maybe

In one of the New Orleans neighborhoods hit hardest by flooding in Hurricane Katrina's aftermath, developers have built a prototype house ...

Arkansas Doctor Convicted in Bombing Loses Lawsuit

An Arkansas doctor convicted in a bombing that nearly killed the head of the state medical board lost a separate wrongful death case on ...

Hurricane Recovery Money Redirected to Superdome Upgrades

The Jindal administration has gotten permission to redirect federal hurricane recovery money from housing aid programs to Superdome ...

Federal Disaster Assistance Denied for Oklahoma

Gov. Mary Fallin's office says her request for federal assistance to individuals and businesses affected by a tornado that killed six in ...

Texas Governor Renews Drought Disaster Declaration

Gov. Rick Perry has renewed a proclamation declaring Texas a disaster due to the drought. Perry renewed the disaster status on April 20, ...
West

Montana GOP Candidates Embrace Insurance Industry Bills

Republican candidates for governor said on April 19 at a forum that they would back key insurance industry legislation if elected, and ...

Arizona Man Sentenced in Insurance Forgery Case

A Flagstaff, Ariz., man who continued to collect insurance premiums from small business owners even though his license was revoked has been ...

Family of New Mexico Girl Killed in Crash with Santa Fe Doctor Sues

The family of a little girl killed when her family's van was hit by a vehicle driven by a Santa Fe, N.M., surgeon suspected of driving ...

Associated General Contractors of California, Zurich Partner on Program

The Associated General Contractors of California (AGC-CA) and Zurich have collaborated to provide insurance services for its members. Under ...
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International

Dutch Trains Collide in Amsterdam; 1 Death, Dozens Injured

Two busy passenger trains collided head-on near an Amsterdam park, injuring scores of people including more than 50 seriously, a police ...

IMB Report Notes Piracy Increasing in W. Africa; Somalia Still Main Threat

The latest global piracy report from the International Chamber of Commerce (ICC) International Maritime Bureau (IMB) cites 102 "incidents ...

Q1 Insurance-linked Securities at Record $1.49 Billion: Aon Benfield Study

Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, has issued ...

Ratings Recap: Insurance Barbados, Talanx (Notes), Ability Re, Newport Bonding

A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Insurance Corporation ...
Insurance Journal Magazine: Young Agents Survey Issue

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New Discussions in the Forums

Thoughts on Clusters should i use them or not
Posted: Mon Apr 23 -- I want to start a new independent angency, are clusters a good to start with does any know any results or experienced great results from... biggboy55
What licenses are needed to insure commercial lines
Posted: Mon Apr 23 -- Not to come down too hard on you, but....if you haven't checked your state's Department of Insurance website, that's the best place to... Big Dog
looking for feedback/advice please....
Posted: Mon Apr 23 -- FYI - of all the captive programs around me anyway, Nationwide seems to be the best. There are two programs they have. For one you need $10k... bjwestner
Job advice...please help!
Posted: Mon Apr 23 -- I'm going to be more honest here than I probably should be but I thought it would help out.....In 11plus years in insurance, 10 of those in... bjwestner
How do you ask for a referral?
Posted: Sat Apr 21 -- Great advice. I think if we are providing quality service the client will notice. It also is a good habit to ask for new business on a... BestCarCoverage
CPCU - Advice
Posted: Fri Apr 20 -- It is possible that some of your Firefighter certifications can be applied toward elective credits. I did not do any of the prior learning... joel66
Children's product resale store
Posted: Thu Apr 19 -- I've got markets than can write the products excluding any USED cribs or car seats. MP start at $5,000 including product liab. I'd be glad... Adame526

Reader Comments

Alligator Visits Louisiana Motel, Bites Guest
Posted: Tue Apr 17 -- ...and the gator was thinking "hmmmm. Tastes like chicken..." Dee
Wisconsin Governor Signs Bill Erasing Workplace Discrimination Damages
Posted: Tue Apr 17 -- Lots of hard choices to make these days no matter who you are and where you are. People all over the country need to learn from the mistakes... FFA
Tennessee Lawsuit Charges 'Bachelor,' 'Bachelorette' TV Shows with Racial Bias
Posted: Fri Apr 20 -- "Reality" shows are a primary reason my TV is tuned to "OFF" more and more often these days. wvagt
Illinois Man Sues Nestle, Wal-Mart Over Dog's Death from 'Wholesome' Treat
Posted: Fri Apr 20 -- What type of guy has a Pomeranian and then to name it Cleopatra? Compman
Marijuana Club Files $3M Suit Against SoCal City
Posted: Thu Apr 19 -- Leave them alone! TRW

Current Issue

Current Issue
Big "I" Issue with Young Agents Survey; Medical Professional Liability; Business Interruption / Business Income; Bonus: Education & Training Directory
April 16, 2012

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