Friday, June 8, 2012

Daily Headlines: Friday, June 8, 2012

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Insurance Journal Daily Headlines
June 8, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Administration Ready to Respond on Healthcare Reform Ruling

U.S. Health and Human Services Secretary Kathleen Sebelius said on Thursday the administration will be ready to respond if the Supreme ...

Workers’ Comp Market Injured But Still Standing

Like the economy, the workers' compensation market has suffered in recent years. Results for 2011 were no better than 2010. The good ...

U.S. to Issue More Waivers on Iran Sanctions Next Week

The United States will announce a new list of countries that will receive exceptions to financial sanctions on oil trade with Iran as soon ...

8 Things Independent Agents Can Learn From Sam Walton

Wal-Mart and independent agencies seemingly have little in common. Not so. There are many helpful ideas to cull from Mr. Walton's amazing ...

AIG’s Benmosche Says Chartis May Readopt AIG Brand as Insurer Rebounds

Here is another sign that American International Group executives may be feeling bullish about the company's future prospects -- CEO Robert ...

AAIS Revises Mobile-Homeowners Forms, Endorsements, Manual

The American Association of Insurance Services (AAIS) has developed and filed a comprehensive revision to its mobile-homeowners program. ...

From MyNewMarkets.com Rockhill Launches E&S Primary General Liability Underwriting Unit

Rockhill Insurance Group has expanded its product offerings to include primary general liability. The new underwriting unit will be led by...
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East

N.J.’s Insurance Regulator Offers Tips on Preparing for Hurricanes

As the 2012 hurricane season begins, New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski is encouraging state ...

N.J.'s Consolidated Insurance Agents Adds 2 Agencies to Network

Consolidated Insurance Agents, an exclusive network of independently owned and operated insurance agencies in New Jersey, said it added two ...

Markel Expands Motorcycle Coverage to New Jersey

Markel American Insurance Co. has expanded its recreational vehicle coverage into New Jersey. For over 35 years, Markel American Insurance ...

Pennsylvania Judge: Insurer Must Cover Sandusky’s Legal Bills for Now

A judge ruled on Monday that Federal Insurance Co., part of Chubb Group of Insurance Companies, must continue to cover Jerry Sandusky's ...

Maine-Based WC Insurer MEMIC Group Hires 2 Senior Underwriters

The MEMIC Group, a workers' compensation insurer headquartered in Portland, Maine, has appointed two senior underwriters: Mark Darragh for ...

New York Court Rejects College Pitcher’s Injury Claim

New York's top court says a college pitcher hit in the face with a line drive at indoor practice accepted the sport's risk and has rejected ...
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Midwest

Arthur J. Gallagher & Co. Acquires Broker Benefit Services

Arthur J. Gallagher & Co. has acquired Broker Benefit Services L.L.C. in Chesterfield, Mo. Terms of the transaction were not disclosed. ...

Iowa Landfill Blaze Produces Diesel-Like Byproduct

A days-long fire at the Iowa City Landfill has created a combustible substance that officials are sending to western Nebraska for ...

Habitat to Build Homes for Indiana Tornado Victims

Habitat for Humanity is planning to build nine houses in Madison for southern Indiana residents displaced by tornadoes. Madison's local ...

Minot, North Dakota, Still Recovering a Year after Historic Flood

For Dan and Cindy Griffith, the stress of dealing with the Souris River flood is worse now than when the raging river forced more than ...
Southeast

Marsh & McLennan Agency Acquires Progressive Benefit Solutions

Marsh & McLennan Agency LLC (MMA), a subsidiary of broker Marsh Inc., acquired Progressive Benefit Solutions (PBS), a $5 million ...

Louisiana Woman Convicted of Bank Theft, Will Pay $284K to Insurer

A federal judge has sentenced a former employee of Teche Federal Bank in New Iberia to 27 months in prison for embezzling over $387,000 ...

W.Va. Families Head to U.S. Capitol Over Mine Safety

Relatives of three miners killed in West Virginia's Upper Big Branch disaster are in Washington, D.C., to press for the passage of ...

Georgia Mom Posed as Dead Son to Collect $151K From Insurance Policy

Prosecutors in Fulton County, Georgia, say a woman has admitted to collecting more than $151,000 on a fraudulent insurance policy she took ...
Join us online next week for a live webcast about Green Building Rating Programs - hosted by Insurance Journal's Academy of Insurance -- Register Today
South Central

Recruiter in City Nursing Scheme Pleads Guilty in Houston

A Houston man has pleaded guilty to recruiting patients for a healthcare provider in return for kickbacks. Floyd Leslie Brooks, 45, entered ...

State Fire Marshal Added to Louisiana Carnival Ride Lawsuit

The mother of two teens injured last year on a carnival ride in Greensburg, La., is suing the state Fire Marshal's Office. The Advocate ...

Arkansas Chemical to Reopen Plant After Blast

El Dorado Chemical says it will soon resume operations after last month's explosion at its plant in south Arkansas. No one was hurt in the ...

Feds Seek Insurance Funds from Former Louisiana Mayor

A federal magistrate has ordered the garnishment of money from a life insurance policy owned by former Ball, La., Mayor Roy Hebron, who is ...
West

Farm Mutual Insurance Co. Under Montana Supervision

Montana's insurance commissioner has placed Great Falls-based Westland Farm Mutual Insurance Co. under her office's supervision, citing the ...

AIG to Pay $15.6 M to Calif. for Underreporting Workers’ Comp Payments

American International Group Inc. will pay California $15.6 million in penalties to settle allegations that its insurance companies ...

C.M. Meiers Preliminary Injunction Decided, But Far From Over

A judge has rejected a request for a preliminary injunction in the case of a bankrupt Southern California insurance agency following a ...
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International

Aon Benfield May Cat Report Highlights Italian Quakes; $6 Billion Econ. Loss

Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has released its latest edition of its Global Catastrophe ...

Fitzpatrick is New Sec’ty. General, Managing Director Geneva Ass’n.

International insurance economics think tank, The Geneva Association, has appointed John H.  Fitzpatrick Secretary General and Managing ...

Willis Appoints Tosti Latin American Reinsurance CEO

Willis Group Holdings announced the appointment of Antonio Tosti to the newly-created role of CEO of Willis' Latin American Reinsurance ...

Legrand Joins Broker MDS as COO to Expand International Business

MDS Holdings, the European and Latin American insurance brokerage group, announced that Jacqueline Legrand has joined the firm as Chief ...
Insurance Journal Blogs

Florida insurance reform push draws strange bedfellows

Tom Grady, interim chief of Florida's Citizens Property Insurance Corp., has been on a tour of the Sunshine State, trying to defend he ...

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New Discussions in the Forums

Just another day in the retail insurance biz
Posted: Fri Jun 8 -- D -- I bet you probably saved yourself & your carriers a boat load of claims by asking the right questions over the years. William Graham
Credit Card Processing
Posted: Fri Jun 8 -- We've been using Square for 18 months. No problems. We generally don't process credit card through the agency, so we only use it 5-6 times... onstar
Agency Management System
Posted: Fri Jun 8 -- In California. 18 months being independent agency (3 years with State Farm before that). We use FSC Manager (from the people that make FSC... onstar
Work Comp for a Live Theater in California
Posted: Thu Jun 7 -- A "community theater" pays its actors? Is this WC on volunteers? You may wish to consider a group AD&D policy instead for the volunteers. jimk@reliabank.com
Calling all experienced MGAs...is this a fair deal?
Posted: Wed Jun 6 -- Jump at that opportunity. I have owned several retail agencies and am a commission only employee should only make 30% since they are... haylee
Maryland Broker Fees
Posted: Wed Jun 6 -- Hi again, I was wondering if anyone can clarify something for me in Maryland. I have been checking on what constitutes taxable amount in... insnewbie1

Reader Comments

50 Years On, Fire Still Burns Underneath Pennsylvania Town
Posted: Fri Jun 1 -- There are only 5 remaining homeowners and they presumably have all been there since the fire started, making them all adults who can... Lisa
Michigan Court Rules for Insurer in Tragic Hit-and-Run
Posted: Fri Jun 1 -- "The court's conservative majority"....why do we never see "The court's liberal majority" or "ZZZ is a liberal think tank?" Just... plymn
Florida's Citizens Hears Depopulation Ideas
Posted: Mon Jun 4 -- One idea. Citizens could add a disclosure on the application (similiar to the one about assesments) that reads: "There is a good possibility... SWFL Agent
Virginia Activists Press Banks for Foreclosure Aid
Posted: Tue Jun 5 -- Why in the world would anyone in their right mind think they can afford a $425,000 loan with a $35,000 salary? He was not taken advantage... Really??
President Obama Signs Flood Insurance Extension
Posted: Mon Jun 4 -- I wonder what other P.O.S. bill was attached to this so that it would get passed? Ralph Kramden

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June 4, 2012
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