Wednesday, May 30, 2012

Daily Headlines: Wednesday, May 30, 2012

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Insurance Journal Daily Headlines
May 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Many Gray Areas in Legal Arguments Over Botched Faceook IPO

Facebook's initial public offering has sparked lawsuits and investigations after a botched trading debut on the Nasdaq stock market delayed ...

Insurance Think Tank Splits from Heartland, Reorganizes as R Street Institute

The insurance team at the conservative Washington, D.C. think tank Heartland Institute has split from that organization and has formed a ...

BofA Whistleblower to Receive $14.5M in Mortgage Case

A former home appraiser will receive $14.5 million as part of a whistleblower lawsuit that accused subprime lender Countrywide Financial of ...

Zurich Names Nash to Lead Healthcare Practice Group

Zurich has named Dan Nash its healthcare practice leader. Nash succeeds Patrick Lundy, who was recently appointed to head of Zurich's ...

From MyNewMarkets.com 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 distributing...

From IJAcademy.com Building Codes BAD for Your Insured

Few commercial structures fully meet the applicable jurisdictional building codes and regulations to which they are subject. Federal, state, and local building codes ...
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East

Md. Officials Ask Homeowners: ‘Are You Ready for Hurricane Season?’

As the Atlantic hurricane season approaches, Maryland's insurance regulators are asking homeowners, "Do you know what your homeowners ...

Burns & Wilcox’s Baltimore Office Appoints Assistant Branch Manager

Burns & Wilcox of Baltimore promoted Geoffrey Crater to assistant branch manager. Crater joined Burns & Wilcox in January as director of ...

Mass.-Based First American Insurance Announces 2 Appointments

First American Insurance Underwriters, Inc., a Needham, Mass.-based wholesale life insurance, annuity, long-term care and disability income ...

Massachusetts Regulators Urge Water Safety as Summer Season Begins

With the unofficial start of summer this past weekend, the Middlesex District Attorney's Office in Massachusetts is kicking off a water ...

Delaware Regulators Recovered $1.3M for Policyholders in 2012 Q1

Delaware's Insurance Commissioner Karen Weldin Stewart said her department recovered $1,331,831 for the state's policyholders during 2012 ...
Midwest

Study Suggests Continued Population Drop in Kansas

A decades-long decline in population is likely to continue in Kansas, particularly in the west of the state, and four counties could have ...

Crews Work to Protect Structures in Michigan Wildfire

Crews worked on May 29 to ensure that no more structures were damaged by a wildfire burning across more than 30 square miles of Michigan's ...

Minnesota Offering 3rd Round of Auto Theft Prevention Grants

The Minnesota Department of Commerce is encouraging local law enforcement, county prosecutors, and community organizations to apply for a ...
Southeast

Kentucky’s April Hail Storm Cost Insurers $175 Million

A major hail storm last month in Kentucky is estimated to have caused $175 million in insured losses and damages when balls of ice as large ...

Florida City Doubles in Size Since Hurricane Andrew

The havoc wreaked by Hurricane Andrew here two decades ago still serves as a warning about the devastation even a slow tropical storm ...

North Carolina Maintains Inspections on Newer Cars

North Carolina drivers that own newer cars will still have to undergo an annual vehicle inspection after state lawmakers scuttled a ...

Indian Company Opens South Carolina Insurance Services Center

An Indian company is slated to open a new facility to process insurance claims and provide insurers other financial and accounting services ...
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South Central

New Oklahoma Law Caps Premium Tax on Captive Insurance Companies

A proposed new law that places a cap on premium taxes paid by captive insurers is expected to increase the number of companies conducting ...

Lobell, Tutt Join Louisiana-Based Specialty Risk Associates

Specialty Risk Associates Inc., headquartered in Shreveport, La., has added Rhonda Lobell as a commercial lines underwriter and Dolores ...

Cadwallader Joins IMA Inc.'s Employee Benefits Division

IMA Inc. announced that Leisha Cadwallader joined IMA as vice president of employee benefits in its Dallas office. Cadwallader is charged ...
West

Wildfire Now New Mexico's Largest Recorded

A wildfire in New Mexico's Gila National Forest has consumed 170,252 acres, making it the largest wildfire on record in New Mexico, a ...

Ex-Calif. Cop Gets $450K To Settle Reprisal Suit

A former Los Angeles County police officer will receive $450,000 to settle a lawsuit he filed against the Glendale Police Department, ...

Nevada Lawyer Files Another Suit Over Motorcycle Helmets

An attorney has filed another lawsuit challenging southern Nevada's authorities' enforcement of a state law requiring motorcyclists to wear ...

Insuring Golden Gate's Legacy Long Ago

The 75th anniversary of the construction of the iconic Golden Gate Bridge's was celebrated on May 27, and the massive project was ...
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International

Italy to Hike Petrol Tax to Fund Quake Relief

The Italian government will raise excise duties on petrol to fund aid for the Emilia-Romagna region affected by Monday's earthquake, a ...

EU Proposes Cross-Border Bank Rescues

European Union countries could be obliged to bail out one another's struggling banks, according to a draft EU law that marks a big step ...

Willis Ireland Acquires Employee Beneftis Firm, Attain Consulting

Willis Risk Services (Ireland) Limited confirmed its commitment to further developing its domestic employee benefits business by acquiring ...

Google Wins Copyright Ruling in France

A French court ruled that Google is not responsible for filtering content on YouTube, dealing a blow to French broadcaster TF1 which sought ...
Join Insurance Journal's Academy of Insurance -- Insuring Green Building and Materials, new challenges and opportunities for the insurance industry -- Register Today
Sponsored Content

Atlas General Insurance Services Named 3rd Healthiest Company in San Diego in 2012 by the San Diego Business Journal

San Diego, CA, 5/30/12 – The San Diego Business Journal announced the finalists this week for the San Diego Business Journal's 3rd ...
Insurance Journal Blogs

Burand’s Agency E&O Blog: Tip #1

Insurance agency errors and omissions (E&O) situations and solutions from consultant Chris Burand. Tip #1 When was the last time you ...

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New Discussions in the Forums

What are your thoughts on the insurance industry
Posted: Mon May 28 -- Before you go captive or IA you need to know what niche area you want to be in. Going Captive you'll learn more than IA. But, Captive you'll... johnsharp
Video Email - Would you do it if it is cost effective
Posted: Wed May 23 -- I have been in the insurance industry since 1985. I have seen a lot of things come and go in that time period. I know right now the hot... Eagleeye
Licensing Outsourcing? Viable?
Posted: Wed May 23 -- Tip brought to you by your local PIA (Professional Insurance Agents Association) - ... dm307799
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
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

Reader Comments

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. Vaughn, ARM
Facebook, Banks Sued Over Pre-IPO Analyst Calls
Posted: Wed May 23 -- Click if you like.......... MGD
Montana School Settles Claim By Family Of Suicide Victim
Posted: Fri May 25 -- I don't understand. This young girl was attacked and violated and the teacher got a 3 year deferred sentence? He should be fried for his... Water Bug
Mom of Massachusetts Man Shot in Harvard Dorm Sues University
Posted: Fri May 25 -- Although I would be devastated were it my child, I would have to admit that life is sometimes unjust and unfair. Neither is grounds for a... Lynda Berge
More Top Executives Say Bribes for Business Acceptable
Posted: Thu May 24 -- That's just great (NOT). Way to lead by example people. Its often commented in the IJ that increased regulation is not favorable to the... Producer #1

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