Daily Headlines: Thursday, May 3, 2012

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May 3, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Once Again, Flood Insurance Program to Expire Unless Congress Acts Federal officials are putting fresh pressure on Congress to take action on the National Flood Insurance Program, whose authorization ... BP’s $7.8 Billion Gulf Oil Spill Settlement Wins Initial Court OK BP Plc won preliminary court approval of an estimated $7.8 billion settlement to resolve more than 100,000 claims by individuals and ... Hartford Q1 Profit Drops 81% on Realized Loss, But Core Earnings Up The Hartford Financial Services Group Inc. said its 2012 first quarter net income declined 80.8 percent to $96 million, hurt by a $587 ... Allstate Profit Jumps 46% in Q1 Allstate Insurance reported a first quarter profit of $766 million, up by about 46 percent from a year-earlier profit of $524 million. The ... Arthur J. Gallagher Profit Up 85% in Q1 Global insurance broker and risk management firm Arthur J. Gallagher & Co. boosted its profit 85 percent in the first quarter, from  ... Marsh Coverage Responds to Government Crackdown on Healthcare Executives Corporate officers in every industry have to be on guard when it comes to enforcement of federal laws and, according to insurance broker... More National News East N.H. AG: Homeowners Have to Wait on Foreclosure Settlement Help New Hampshire Attorney General Michael Delaney says homeowners hoping to benefit from a settlement over foreclosure abuses may have to wait ... Va.-Based Genworth Financial’s CEO Reigns; Acting Chief Named Genworth Financial Inc. said Tuesday that Chairman and CEO Michael D. Fraizer has resigned, and the board has tapped Chief Financial ... Another Insurance Attorney From Dewey & LeBoeuf Departs Firm A number of insurance attorneys from N.Y.-headquartered elite law firm Dewey & LeBoeuf have left the company this year, as the firm, ... Former Aon Executive Named as CEO of N.Y.-Based Reinsurer Southport Re New York-based reinsurance holding company Southport Re appointed Glenn Weber to the newly created position of chief executive officer. ... More East News Midwest Missouri Governor Signals Compromise On Workers’ Comp About six weeks after he vetoed legislation that would have changed the state's workers' compensation system, Missouri's Democratic ... Menard Guards Wrongly Paid Workers’ Compensation In a little-noted appearance before the Illinois House Appropriations-Public Safety Committee, the director of the Department of ... South Dakota Company in Trouble With OSHA Federal safety regulators have labeled a southeast South Dakota company a "severe violator'' after a worker died and two others were ... Thousands in St. Louis-Area Suffered Hail Damage The impact of last weekend's storm in St. Louis is still being felt as thousands of owners of homes and cars continue to make, or await, ... Western National Completes Purchase of American Freedom Insurance Western National Mutual Insurance Co., based in Edina, Minn., has closed on the purchase of 100 percent of the stock of Arlington Heights, ... Detroit Schools to Pay $425K To Student’s Family A federal judge in Michigan has ordered the cash-strapped Detroit Public Schools to pay $425,000 to the family of a special education ... Arthur J. Gallagher Acquires Schiff, Kreidler-Shell Itasca, Ill.-based Arthur J. Gallagher & Co. acquired Schiff, Kreidler-Shell Insurance and Risk Services headquartered in Cincinnati, ... More Midwest News Southeast Florida’s Citizens Issues Largest Catastrophe Reinsurance Bond on Record Florida's Citizens Property Insurance Corp. has entered the catastrophic bond market in a big way by issuing $750 million in bonds, ... Sen. Rubio: 100% of BP Fines Should Go to Gulf States Sen. Marco Rubio, R.-Florida,  said he opposes a plan that would give Gulf coast states 80 percent of the fines stemming from the 2010 oil ... Florida Yacht Crew Firm Faces Damages Over Discriminatory Email A Fort Lauderdale, Florida company that hires crews for yachts is facing damages after an employee accidentally sent an email to an ... Bill Permits Golf Carts on Mississippi City Streets A bill that would allow golf carts on the streets of Diamondhead has been sent to Mississippi Gov. Phil Bryant, who has until today, May 3, ... More Southeast News South Central Hundreds Of El Paso Buildings Face Fire Inspection About 600 downtown El Paso buildings will be inspected after fire destroyed a structure where a gunfighter once practiced law. Fire Chief ... Wrongful-Death Suit Filed Against Pawnee Police The family of a man fatally shot by the Pawnee assistant police chief has filed a wrongful death lawsuit on the two-year anniversary of the ... New Law Increases Drunk Driving Penalty in Oklahoma Under legislation recently signed into law in Oklahoma, a drunk driver who caused an accident resulting in great bodily harm could face a ... More South Central News West C.M. Meiers Legal Battle Goes On, Allegations Heat Up With a quote from former president Ronald Regan, an emergency motion from a sex toy business and increasingly acerbic accusations, the ... 20M-Plus Crop Damage When Storm Shreds Central California Orchards A fierce spring storm that shredded Central California orchards last month caused more than $20 million damage in Kings County. Other San ... Hawaii Lawmakers Pass 3 Cybercrime Measures Hawaii lawmakers have approved a trio of bills aimed at preventing cybercrimes. The bills passed Tuesday offer law enforcement and ... IMA Names Kafka and Walters In Denver Denver, Colo.-based IMA Inc. named Lise Kafka to its health risk management practice, Life IQ, and Christopher Walters has joined IMA's ... Flexpoint Ford Agrees to Acquire GeoVera From Hellman & Friedman Chicago, Ill.-based Flexpoint Ford LLC, a private equity firm focused on the financial services and healthcare sectors, announced its ... NAS Adds to Its Executive, Management Ranks Encino, Calif.-based NAS Insurance Services has expanded its national specialty insurance business with the addition of Matt Singerman, ... Freeman of Freeman & Pearce Passes Leonard Freeman, founder of Freeman & Pearce Insurance Agency Inc. in Orange, Calif., died at his Southern California home on Sunday ... More West News International Court Bans Microsoft’s Xbox 360, Windows 7 from German Market A court in Mannheim, Germany ruled on Wednesday that Microsoft infringed Motorola Mobility's patents and ordered Microsoft to remove its ... Willis Re Reports on Mutual Insurers’ Diversification Challenges, Opportunities Willis Re, the reinsurance arm of Willis Group Holdings, has released a report discussing the challenges and opportunities offered to ... Earnings Reports: Allied World, Endurance Specialty, RenaissanceRe Selected earnings highlights from Allied World Assurance for the first quarter of 2012 are as follows:      ... Best Upgrades SCOR & Subs Credit Ratings; Affirms Financial Ratings A.M. Best Europe – Ratings Services Limited has upgraded the issuer credit ratings (ICR) to "a+" from "a" and affirmed the ... XL Group Names Lanzagorta Client & Distribution Leader for Mexico XL Group plc announced the appointment of Joan Lanzagorta as Client & Distribution Leader for its operation in Mexico, effective as of ... Miller Hires Gao Zu Biao as North Asia Reinsurance Specialist UK-based broker Miller announced that it has enhanced its North Asia reinsurance broking capabilities by appointing Gao Zu Biao, who will ... 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 How do you ask for a referral? Posted: Thu May 3 -- Thanks policyman! What you say does make sense, I guess I just think that to make a list of people who are maybe connected with your current... Auds NEEDED:History and Current Trends of the Independent Agent Posted: Thu May 3 -- Hey Guys, thanks for the responses! I have already contacted the PIA, and am waiting to here back from them. My father's contact with the... wyattkinger77 1-800-Car-Insurance Posted: Wed May 2 -- Your criticism is valid. My thinking was that you are not allowed to directly advertise in the forum. When the comments came in, I revealed... glabman New Venture - Non-Emergency transporation Posted: Wed May 2 -- Marmar - the risk will have to split, Auto and GL. Have you received any quotes yet? I have to say, I see new business submissions on this... LadyBroker Aviation Products Liability - Non-Critical Parts Posted: Wed May 2 -- Chartis has a division for Aviation parts, I would contact them. LadyBroker Is it possible to get insurer appointments just starting out Posted: Mon Apr 30 -- d's insurance store usually gives good advice-this time is no exception. I will be a bit more blunt...6 months to a year will only scratch... jackwehoca looking for feedback/advice please.... Posted: Wed Apr 25 -- My suggestion is to work with an independent agent as a producer. The KEY is to negotiate a good commission split and that YOU OWN YOUR BOOK... NYagent301 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 Go to Forums Reader Comments Missouri Woman Wins $5.8M in 'Girls Gone Wild' Case Posted: Tue May 1 -- i know. i was kidding. nobody wants that to happen to themselves or someone else. nudity's kind of a funny thing though honestly...we're the... George Transportation Chief Calls for National Ban on Cell Phone Use While Driving Posted: Wed May 2 -- You know where it's safe to be on your phone (or even laptop) and in transit? Busses, subways, rail systems, and the backseat of a carpool.... Cat Victims of Cyberbullying Fighting Back in Libel Suits Posted: Mon Apr 30 -- If someone spoofs a web-site or F/B page as another person isn't that identity theft or wire fraud? Seems that that would be worthy of... Ins Guy Dead Mexican Teen's Family To Pursue Suit in Texas Posted: Wed May 2 -- I'm sorry this kid got killed but throwing rocks at a cop was an invitation for violence and trouble. Rather than making his parents... Water Bug As America's Waistline Expands, Costs Soar Posted: Mon Apr 30 -- Holy Cow! What can you do besides educate people, and then get them to take responsibility for their actions? Everything can be cured by a... 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