Wednesday, April 25, 2012

Daily Headlines: Wednesday, April 25, 2012

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Insurance Journal Daily Headlines
April 25, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

What to Expect If Supreme Court Strikes Down Obamacare

If the Supreme Court strikes down President Barack Obama's health care law, employers and insurance companies — not the government — ...

FEMA Urges Renewal of Flood Insurance Program Set to Expire Next Month

Federal flood insurance officials are urging Congress to renew the federal program. The National Flood Insurance Program is scheduled to ...

AIG Alleges Ex-Air Lease CEO, Employees Stole Trade Secrets

American International Group Inc. has sued the co-founder and former chief executive of its aircraft-leasing unit, Steven Udvar-Hazy, ...

Goldman Must Defend Bond Insurer’s Fraud Claims

Goldman Sachs Group Inc. must defend fraud claims brought by a bond insurance company over its notorious Abacus mortgage product deal, a ...

Petersen International Releases Extended Benefit Supplemental Income Plan

Petersen International Underwriters has launched a specialty disability insurance plan that features a 10-year benefit period. "Prior to ...

Argo Insurance Forms New Partnership for Watercraft Program

Argo Insurance, a member of Argo Group International Holdings, Ltd., will offer a private and pleasure watercraft program through its ...

Suspect Air Packs Still Being Used at Coal Mines

Two years of testing have found a critical defect in a certain model of emergency breathing devices used in U.S. coal mines, but federal ...

From MyNewMarkets.com New BevCap Program Targets Beer Distributors

Powered by InsuranceJournal.tv BevCap Management, an independent insurance agency in McKinney Texas that specializes in the program...
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East

N.Y. Gov. Cuomo Says Life Insurers Paid Over $262M After Probe

New York Gov. Andrew Cuomo said this week that a regulatory investigation into how insurers tracked life insurance policyholders resulted ...

N.J. Stresses Importance of Financial Literacy to High School Students

Ken Kobylowski, acting commissioner for New Jersey Department of Banking and Insurance, is teaching teenagers about the importance of ...

Penn. Woman Gets 10-Years’ Probation for Foreclosure Notice Arson

A northwestern Pennsylvania woman will spend 10 years on probation for attempting suicide by setting fire to her home with a foreclosure ...

Federal Lawsuit Targets MaineCare Cuts

A new federal lawsuit targets a rollback of MaineCare benefits supported by Maine Gov. Paul LePage that eliminated health care coverage for ...
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Midwest

Indiana Moving to Adopt Outdoor Stage Rules, Governor Says

Indiana Gov. Mitch Daniels told an entertainment industry group pushing for safer outdoor events that the  state has learned from last ...

Neace Lukens Acquires Indiana's Matrix Benefits and Consulting Group

Neace Lukens announced it has completed the acquisition of Matrix Benefits and Consulting Group, a Ft. Wayne, Indiana-based consulting ...

Hastings Mutual CEO and President Wallace Retiring

Hastings, Mich.-based property/casualty insurance carrier Hastings Mutual Insurance Co., announced the retirement of Chief Executive ...
Southeast

Mississippi Judge Declares Damages Cap Unconstitutional

A state judge in Mississippi's Coahoma County has declared a legislatively imposed cap on non-economic damages unconstitutional. Circuit ...

FEMA Reports $18.6 Million in Disaster Aid to Kentucky

More than $18.6 million in federal disaster assistance has been approved for Kentucky residents who went through the tornadoes and severe ...

Brainard to Manage East Coast Brokerage for Beecher Carlson

Atlanta-based specialty insurance broker Beecher Carlson has promoted Sharon Brainard to senior managing director. Brainard will now manage ...
South Central

Apache Corp. Donates $350K for New Woodward, Oklahoma Sirens

Woodward, Okla., will soon have a new tornado warning system. Apache Corp, an oil and gas exploration and production company, and the City ...

Bailey Joins CoVerica as Vice President

Dallas-based property/casualty insurance agency CoVerica has hired Jim Bailey as senior vice president. The role will include traditional ...

TDI-DWC Approves 7 to Self-Insure for Workers' Compensation

The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) approved seven renewals of the Certificates of Authority for ...
West

Midwives Agree To $5M Deal in Birthing Center Lawsuit

Two Idaho midwives have agreed to a $5 million settlement with a couple who sued them for medical malpractice after their baby suffered ...

Cigna To Administer Montana Employee Health Plan

Connecticut-based health insurance giant Cigna has won a three-year contract to administer the state of Montana's employee health plan. ...

Defense Contractor Settles Complaint For $36.9M

Defense contractor ATK Launch Systems Inc. has agreed to pay $36.9 million in cash and services to settle a whistleblower's complaint ...

Metlife, California Reach Settlement Near $500M

MetLife Inc. will pay nearly $500 million in a settlement involving more than 30 states that claimed it didn't provide life insurance ...

Jury Says Doctor Negligent In Cerebral Palsy Case

A California jury says a couple should get $74 million for a doctor's botched delivery of their daughter that resulted in her developing ...

Court Blocks Injunction On California Green Fuel Standard

A federal appeals court is allowing California to resume working on new regulations that mandate greener fuels for cars and trucks. The ...
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International

Fewer Storms Forecast for 2012 Atlantic Hurricane Season

Fewer Storms Forecast for 2012 Atlantic Hurricane Season The 2012 Atlantic hurricane season is projected to be less active than in recent ...

Civil Unrest Leads Aon to Downgrade 37 Countries on Political Risk Map

Aon Risk Solutions, the global risk management business of Aon plc, has just issued its latest political risk map, which gauges the level ...

Swiss Re Team Favored to Acquire Groupama’s Brokerage Unit – Sources

Swiss Re and its private equity partners Apax and PAI are in pole position to acquire Groupama's GAN Eurocourtage [brokerage] unit for ...

Lockton to Open New Australian Operations in Perth and Sydney

Privately held insurance broker Lockton announced that it will open two new offices in Australia, establishing a new insurance brokerage, ...

Earnings Report: ACE Limited

ACE Limited reported its results for the first quarter of 2012. Highlights incuded the following: ...

S&P Lowers India’s Rating Outlook to Negative; Investment Rating in Peril

Standard & Poor's cut India's credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and ...
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New Discussions in the Forums

looking for feedback/advice please....
Posted: Wed Apr 25 -- Very true AgencyEquity....Why would I take such a huge risk of just starting to sell on my own when I have only between $15-20k in capital,... bjwestner
1-800-Car-Insurance
Posted: Wed Apr 25 -- My wife had a flower shop for a few years She belonged to FTD FTD had the chance to protect & use 1-800-Flowers they passed - today 1 800... William Graham
What are your thoughts on the insurance industry
Posted: Tue Apr 24 -- The key question for anyone thinking that the road to riches is paved with personal lines insurance policies is to ask 'what can I do... d's insurance store
How do you ask for a referral?
Posted: Tue Apr 24 -- I have found, Referrals is definitely an art What works does change over time But like all sales it involves repetition and law of large... William Graham
Thoughts on Clusters
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
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
Is it possible to get insurer appointments just starting out
Posted: Mon Apr 23 -- I want to start my own insurance agency, but i dont want to work as a captive agent any longer than 6 months to a year. Would I be able to... biggboy55
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

Reader Comments

Marijuana Club Files $3M Suit Against SoCal City
Posted: Thu Apr 19 -- Leave them alone! TRW
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
Alligator Visits Louisiana Motel, Bites Guest
Posted: Wed Apr 18 -- Best post I have seen in IJ in a long time. Amazed
AIG Adopts FASB Accounting Update, Revises Up 2010-11 Income by $5.1B
Posted: Fri Apr 20 -- More creative accounting AIG? Pretty soon, you will say you don't owe the taxpayers anything even if the balance is still $80 Billion.... Agent
Solution for Disaster Recovery? House in a Box, Maybe
Posted: Mon Apr 23 -- I wish there were a photo roy

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April 16, 2012

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