Daily Headlines: Friday, May 25, 2012

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May 25, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Senate Approves 60-Day Flood Program Extension; Will House Agree? The Senate agreed yesterday in a unanimous consent to extend the National Flood Insurance Program (NFIP) for 60-days past its current ... U.S. Insurers Have Capacity to Provide 2012 Hurricane Coverage: Fitch Sufficient capacity remains available in the insurance and reinsurance markets to meet the demand for coverage prior to the approaching ... Facebook Market Makers’ Claims Against Nasdaq Likely to Top $100 Million Claims by four of Wall Street's main market makers against Nasdaq over Facebook's botched IPO are likely to exceed $100 million, as they ... NOAA Forecasts ‘Near Normal’ 4 to 8 Atlantic Hurricanes in 2012 The 2012 Atlantic hurricane season will be "near normal" with nine to 15 tropical storms and four to eight of those will strengthen into ... 11 States Adopt Plan to Distribute Surplus Lines Premium Taxes States participating in the Non-admitted Insurance Multi-state Agreement, or NIMA, have adopted a premium allocation method for ... Willis Publishes D&O Dictionary to Help Navigate Executive Risk Liabiltiy Landscape Willis North America, a unit of Willis Group Holdings, has published its Directors and Officers Liability (D&O) Insurance Dictionary, ... Senate to Vote on 60-Day Extension of Flood Insurance Program U.S. Sen. David Vitter, R.-La., said he and Senate Majority Leader Harry Reid, D.-Nev., have forged a bipartisan agreement to allow floor... More National News East FEMA OKs Additional $5.5M for Buying Flood-Prone Properties in Penn. Federal Emergency Management Agency (FEMA) on Thursday approved more than $5.5 million in additional federal funding for property ... Virginia’s Sales-Tax Holiday on Hurricane-Prep Items Begins Today Virginia residents can prepare for the upcoming hurricane season and save money at the same time. The Virginia Department of Taxation says ... New Fund Created to Help Displaced Vermont Mobile-Home Owners Glenn French and his wife lost their mobile home and much of its contents when floodwaters from Tropical Storm Irene ripped through ... Mom of Massachusetts Man Shot in Harvard Dorm Sues University The mother of a Massachusetts man fatally shot inside a Harvard University dormitory during a drug-related robbery has filed a wrongful ... OSHA Investigating Recent Spate of Construction Site Accidents in N.J. Federal labor officials want construction companies in New Jersey to ensure that employees working above 6 feet have the proper equipment ... More East News Midwest $18.5M Settlement for ‘Transformers 3′ Injury in Indiana The family of a woman left with brain damage after an accident during the filming of "Transformers 3" in Indiana has reached an $18.5 ... Ohio Legislators Consider New Drilling Rules Rules regulating oil and gas well construction, water handling, and the disclosure of chemicals used in drilling were ready to clear their ... Panel to Hear Illinois Trooper’s Workers’ Comp Appeal A former Illinois State Police trooper whose high-speed crash killed two sisters is asking again for workers' compensation benefits for ... $650K Settlement Reached Over 2009 Minnesota Train Crash Union Pacific Railroad and the family of a man killed in a Blue Earth County train crash have reached a legal settlement. Attorneys say ... More Midwest News Southeast Mediation Fails, West Virginia Slurry Pollution Case Going to Trial Mediation has failed to settle a lawsuit by hundreds of Boone County residents who blame coal companies for contaminating their water ... Court Upholds Mississippi Man’s 37-Month Sentence for Insurance Fraud A federal appeals court has upheld the 37-month sentence handed to a Mississippi man convicted of defrauding a Memphis insurance company. ... South Carolina Weighs Sprinkler Mandate for New Homes The debate over whether all new homes should have fire sprinklers is heating up in South Carolina. The South Carolina Building Code Council ... More Southeast News South Central The Next New Thing: Coverage Issues from Fracking Claims Every few years it seems that there are predictions a new type of claim that threatens to engulf carriers. In the 1980s and 1990s it was ... Gulf Fishermen Reel From Seafood Troubles Gloom infects the hard-working shrimp and crab docks of this gritty fishing town as the second full year of fishing since BP's catastrophic ... Bexar County, Texas, Gets Special Insurance Fraud Prosecutor The Texas Department of Insurance (TDI) has expanded its fight against insurance fraud into San Antonio. TDI Commissioner Eleanor Kitzman ... More South Central News West Arizona Towns At Risk As Wildfires Hit Southwest An Arizona wildfire threatened two more towns on Friday, with high winds on the way, as firefighters made progress against the largest of ... Former UCLA Player Nelson Sues SI For $10 Million Former UCLA player Reeves Nelson is suing Sports Illustrated for $10 million, citing defamation, false light and intentional infliction of ... Wyoming Pushes Workplace Safety With New Hire Wyoming Gov. Matt Mead announced Wednesday the state is hiring a veteran public health official from New Mexico to continue the push to ... Lawsuit Filed Over Skier Death At Colorado Resort The wife of a skier killed in an avalanche at the Winter Park ski resort is suing Intrawest, the ski area's operator. The Grand County ... Montana School Settles Claim By Family Of Suicide Victim The Billings school district has settled a lawsuit filed by the family of a student who committed suicide after her former teacher was ... More West News International 180 Countries Agree on New Climate Treaty Agenda More than 180 countries agreed on an agenda for work on a new climate treaty by 2015 at United Nations climate talks on Friday, breaking a ... Why ‘Project Bonds’ Are a Good Idea: Wynn European Union backing for extra infrastructure finance may sound like a deliberate distraction from deadlock over much bigger euro bonds, ... Hurricane Bud Moving to Mexico’s Coast A tropical storm warning has been issued for the west coast of Mexico as Hurricane Bud gains strength in the Pacific. The warning was in ... CPCU Society Forms India Chapter The CPCU Society has  approved the formation of an India CPCU Society Chapter. The India CPCU Society Chapter is the fifth international ... Dann Joins Miller Insurance Services Miller Insurance Services LLP, a specialist insurance and reinsurance broker, operating internationally and at Lloyd's,  has hired Warren ... ACE USA Enhances International Casualty Coverage ACE USA, the U.S.-based retail operations of the ACE Group, has enhanced its international casualty coverage, ACE ATLAS CMP. The coverage ... More International News Join the Insurance Journal Network Insurance Journal TV Annual Live Training Burn Educates Adjusters Pat Andler, a certified fire investigator and owner of Andler & Associates discusses the... Watch Now What D&O Buyers Look For In a Carrier What do insureds look for when shopping for a carrier to provide director and officers... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Brokerage and investment firm Posted: Tue May 22 -- Are you asking what the process is to register as an insurance agent/broker, and also as an investment (i.e. securities broker/dealer)? Your... Big Dog What are your thoughts on the insurance industry Posted: Tue May 22 -- Policy holders buy insurance to transfer the risk onto another entity - so, you pay a flat fee that is roughly the average of what... neilamcotts New GA getting appointments Posted: Mon May 21 -- Hi Nick, We are in California. It would be a huge help if you had any further info about this venture, specifically the capital... paulbennings Calling all experienced MGAs...is this a fair deal? Posted: Mon May 21 -- I have an opportunity to enter into a marketing agreement with an established independent agency. I am going to list as follows the... youngun58 Farmers vs. Independent Posted: Sat May 19 -- I left Allstate and went Independent. The contract with Allstate is similar to Farmers. Farmers actually approached me after I sold my book... johnsharp Go to Forums Reader Comments Ohio's New 'Vicious Dog' Liability Law Becomes Effective May 22 Posted: Tue May 22 -- Common sense, perhaps... Unfortunately, the majority of dogs that attack are owned by individual who lack common sense! Max Facebook, Banks Sued Over Pre-IPO Analyst Calls Posted: Wed May 23 -- Click if you like.......... MGD How Young Insurance Agents Are Changing the Industry Posted: Fri May 18 -- Marketing concepts change over time because we are always thinking of new ways to gain a client. Right now, we have a mass of technology:... SteveB U.S. SEC Dealt Blow in Financial Crisis Case Posted: Wed May 23 -- Let's see, the executives at IndyMac did what the government claimed they did - thus facilitating the near financial collapse of the U.S.... William S. 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