Daily Headlines: Tuesday, May 15, 2012

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May 15, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG Ex-CEO Greenberg Fights Ruling on Reinsurance Fraud Charges Former American International Group Inc. Chief Executive Maurice "Hank" Greenberg said New York's attorney general should be barred from ... Healthcare Costs for Insured American Family Top $20K in 2012: Milliman The average cost of healthcare for a typical American family of four in an employer- sponsored health plan in 2012 is $20,728. That is a ... HP Loses Battle with IRS Over Tax Shelter Designed by AIG Hewlett-Packard Co. on Monday lost a battle with the U.S. Internal Revenue Service for more than $190 million in tax refunds tied to a ... Judge Denies Delay of BofA Directors’ $20 Million Settlement Over Merrill A U.S. federal judge in New York on Monday refused to delay the approval process for a controversial $20 million settlement between Bank of ... Ratings Recap: Badger, So. Carolina Farm, Louisiana Farm, Colorado Farm A.M. Best Co. has downgraded the financial strength rating to 'A-' (Excellent) from 'A' (Excellent) and issuer credit rating to "a-" ... Duplicate Regulation Drives Up Commercial Premiums, Says Iowa Researcher Buyers of commercial liability insurance pay as much as 31 percent more in insurer compliance costs if their insurance company has to comply... More National News East Allstate Says It’s Ramping Up Agent Recruiting in Northeast Allstate Insurance Company said on Tuesday that it is looking to appoint 140 new agency owners in Connecticut, Maine, New Hampshire, ... Delaware Launches ‘Click It or Ticket’ Seat Belt Enforcement Campaign Delaware state officials kicked off their annual "Click It or Ticket'' seat belt enforcement campaign this week. The annual vehicle safety ... Veteran Insurance Attorney From Dewey & LeBoeuf Joins Sutherland N.Y.-headquartered law firm Sutherland Asbill & Brennan said it is continuing to expand the firm's insurance practice with the addition of ... SIAA Adds 10 New Agency Members in Northeast The Strategic Insurance Agency Alliance (SIAA), a national alliance of over 4,000 independent insurance agencies, said it added 10 new ... More East News Midwest Oak Street Funding Expands Staff Carmel, Ind.-based Oak Street Funding, a national commission-based lender for insurance agents, is expanding its loan origination, ... Judge Dismisses Part of Lawsuit Over Birds Point Levee A federal judge has dismissed a large portion of a class-action lawsuit brought by more than 140 southeast Missouri farmers whose land was ... Attorney: Wisconsin Officials Can Ban Weapons at Polls Local governments can ban concealed weapons at all manner of polling sites, from city halls to assisted living facilities, state election ... Madison, South Dakota, Residents Want Changes After Flooding Madison residents continue to clean up a week after a storm dropped six inches of rain that caused flash flooding, and some want to ensure ... More Midwest News Southeast Georgia Man Sentenced in Crash Blamed on Prescription Drug A Georgia man will serve 15 years in prison after being convicted of DUI and homicide by vehicle. A Pierce County jury has convicted ... Allstate Looks to Grow Florida Agency Force Again Allstate's Florida says it wants to add dozens of new agencies along with support staff jobs across the state, mostly in north and central ... Ayala Joins MarketScout in Florida Marsha Ayala has joined MarketScout's Florida office as an underwriter. Ayala's hire is part of the company's expanding activities in ... Glisson Named to Board of Florida’s Citizens Property Insurance Don Glisson, Jr., chairman and CEO of Triad Financial Services, Jacksonville, Florida, has been appointed to serve as a member of the board ... More Southeast News South Central Pro-Gun Advocates Claim Victory in Oklahoma Session Advocates for expanded gun rights in Oklahoma are claiming success in the 2012 legislative session after the passage of several pro-gun ... MarketScout Hires Hammett as Marketing Associate MarketScout, the national electronic insurance exchange and specialty MGA with headquarters in Dallas, announced that Kelly Hammett has ... Texas Windstorm Alternative Eligibility Program Deadline: Aug. 31 The Texas Department of Insurance is currently developing a process for obtaining an Alternative Certification for obtaining windstorm ... More South Central News West Golden Eagle Names Wallick Regional Vice President for Mid-California San Diego, Calif.-based Golden Eagle Insurance, a Liberty Mutual Agency Corp. regional company, named Peter F. Wallick to Regional Vice ... Documents Show Negligence At California Mental Hospital There are reports showing serious lapses in mental patient care at Southern California's Metropolitan State Hospital. Internal ... Fire That Killed 500,000 Chickens Ruled Accidental Authorities say a fire that killed half a million chickens at an egg farm near Roggen was an accident. The Greeley Tribune reports the Weld ... Utah Joins E-Book Price Fixing Lawsuit The state of Utah has joined an antitrust lawsuit accusing publishers of fixing e-book prices. The Utah Attorney General's Office says Utah ... Blaze Razes 7 Business In Hamlet Near Yosemite A devastating $1 million blaze has razed seven businesses in a California foothill hamlet that depends on tourists headed for nearby ... Poms Expands Risk Services Division with Gamez Woodland Hills, Calif.-based Poms & Associates Insurance Brokers Inc. named Desi Gamez vice president of its risk services division in ... SCA Names Cody to Client Services Division Burbank, Calif.-based SCA Appraisal Co. named Wayne Cody to its client services division. Cody's industry experience began with Liberty ... More West News International Maybe Europe Should Abandon the Euro Says Canada’s Finance Minister If European countries are not prepared to bail out fellow euro zone members, maybe they should just abandon the whole concept of a common ... Zurich Posts $1.1 Billion Q1 Net Profit; Near $1.4 Billion Operating The Zurich Insurance Group reported a business operating profit (BOP) for the first quarter of 2012 of $1.3758 billion, a 62 percent rise ... Harris Joins Torus as Group Chief Financial Officer Global specialty insurer Torus announced that Tim Harris has joined the company as Group Chief Financial Officer. He is based in Torus' ... Padilla to Join Swiss Re as Head of Latin American Reinsurance – North Swiss Re announced the appointment Alejandro Padilla, effective June 1, 2012, as Head of Reinsurance Latin America North and President of ... Ratings Recap: Swiss Re Corporate Solutions, Milli Re A.M. Best Co. has assigned a financial strength rating of 'A+' (Superior) and an issuer credit rating of "aa-" to Swiss Re Corporate ... More International News Join the Insurance Journal Network New Discussions in the Forums Are Insurance Agents Employees or Independent Contractors? Posted: Tue May 15 -- I get mad about this a lot. Most companies issue you a 1099 and that would say you were a Independent Contractor for IRS guidelines. When in... johnsharp Is it possible to get insurer appointments just starting out Posted: Tue May 15 -- You can get all the appointments you want if you have good sales and connections in that niche. I was a Captive Agent for 2 years and grew... johnsharp New GA getting appointments Posted: Tue May 15 -- Thanks Nick. I appreciate the input. I am surprised by the $1M capital requirement for a GA. So all these small mom & pop GA's have that... paulbennings Aviation Products Liability - Non-Critical Parts Posted: Mon May 14 -- I have direct access to a few of the top carriers on avaition products, both critical and non. Please contact me to discuss. Ken... kmeeker Producer Compensation-Florida Posted: Mon May 14 -- Usual is around 30% of renewal commission. That is what I paid my producers for their renewals, and I would pay them 45% of the NB... mangroveman Residential General Contractor - CA Work Comp Posted: Thu May 10 -- Hello, Does any one have a market for a General Contractor who does residential remodels and additions. The payroll is 70k annually. Looking... InsureTime HOA Products completed ops Posted: Tue May 8 -- How can you get the coverage included in the Umbrella if it is not on the primary policy? ALso, is the Products/Completed Ops coverage... LadyBroker Go to Forums Reader Comments Future Vision: Will Driving Become Too Safe to Insure? Posted: Wed May 9 -- The additional safety devices that are in place to reduce accident do help, but the idea of no accidents involving vehicles will never... Fanucci Police Seize 17 Pit Bulls in Louisiana Town Posted: Tue May 8 -- PropGal: No more comments need to be made. The facts have been posted and you can count your blessings that your "pack" have not hurt your... ITS OUR OWN FAULT Consumer-Directed Health Plans Show Mixed Results Posted: Wed May 9 -- If chronic disease drives 75%+ of our national healthcare expense, how could high deductibles have any positive impact on health/disease... Dan Ross C.M. Meiers Legal Battle Goes On, Allegations Heat Up Posted: Thu May 10 -- Oh come on. If you are WRK,you haven't been there. If you aren't WRK, you don't know what ER business endevors were. He had one of the... ??? Miami Boat Captain Charged with Insurance Fraud Over Sinking of $1.8M Yacht Posted: Thu May 10 -- Well, if this clown was just the captain and the loss was paid to the owner of the yacht, I wonder if he got a 'share in the spoils', and... reality bites Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue May 7, 2012 AAMGA Issue; Salute to Super Regionals; Premium Finance Directory More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Territory Manager Property & Casualty Insurance Account Executive Underwriter Field Claim Representative Have a job opening? 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