Monday, June 4, 2012

Daily Headlines: Monday, June 4, 2012

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Insurance Journal Daily Headlines
June 4, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

MF Global Trustee Recommends Insurance Fund for Futures Customers

Futures customers should have access to a fund that guarantees their accounts up to a certain threshold, the trustee liquidating MF Global ...

President Obama Signs Flood Insurance Extension

As expected, President Barack Obama on May 31 signed into law an extension of the federal flood insurance program until July 31. H.R. 5740, ...

Colorado Researchers Raise Atlantic Storm Forecast

Colorado State University researchers on Friday raised their forecast for the 2012 Atlantic hurricane season to 13 tropical storms, with ...

Senate Favoring End to Direct Payouts to Farmers

A program that puts billions of dollars in the pockets of farmers whether or not they plant a crop may disappear with hardly a protest from ...

Best Affirms State Farm Mutual, Affiliates & Subs Ratings

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A++' (Superior) and issuer credit ratings (ICR) of "aa+" of State ...

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 ...

Argo Insurance, Britt/Paulk Form New Pest Control Program

Argo Insurance's Commercial Specialty Programs unit will partner with Britt/Paulk Insurance Underwriters to offer insurance for ...

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...
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East

Penn. Officials Say Summer Activities Bring Special Insurance Concerns

Pennsylvania insurance regulators are reminding consumers to keep insurance needs in mind when vacationing, entertaining or enjoying other ...

Tornadoes Damage Areas in Virginia, Pennsylvania, Maryland

Tornado Causes $4.3M in Damages in Hampton, Va. Hampton officials say a tornado that swept through the city caused more than $4.3 million ...

4 North New Jersey Towns to Share $2.9M in Flood Buyouts

Millions of dollars in state funds are heading to North Jersey towns, providing a measure of relief to at least a dozen households ...

N.J. Giving Prudential $210M Tax Credit for Building New Office Tower

Prudential Financial will receive a 10-year state tax credit worth up to $210.8 million to support its plans to build a new office tower in ...

William Gallagher Exec Joins First Niagara Risk Management in New York

First Niagara Risk Management, the Buffalo, N.Y.-based insurance brokerage subsidiary of First Niagara Bank, appointed Kirk Jensen as ...
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Midwest

Jury: $181M to 3 Hurt in Illinois Grain Elevator Blast

A federal jury has sided against ConAgra Foods Inc. and a subcontractor in awarding roughly $181 million in damages to three workers ...

Many in Tornado Alley Still Rely on Warning Sirens

Warnings sent directly to cell phones and broadcast over the airwaves can provide a detailed heads-up before dangerous storms. But for many ...

Clinton Joins Michigan's Fremont Insurance

Fremont Insurance, a Michigan-exclusive property and casualty insurance carrier with headquarters in Fremont, Mich., has hired Christopher ...
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Southeast

Florida’s Citizens Hears Depopulation Ideas

When the question is how to shrink Florida's state-backed home insurer, answers from insurance agents, insurer executives, state ...

Wildlife Groups Call for Florida Property Insurance Reforms

Taking the position that Florida's heavily-subsidized property insurance market is leading to over-development along the state's ...

West Virginia Mines Cited During May Safety Inspections

The Mine Safety and Health Administration says it issued 254 citations, 19 orders and one safeguard during special inspections at West ...

Florida Cat Fund's Financial Condition Triggers A.M. Best Review of Insurer Ratings

Insurers writing homeowners coverage in Florida could see a revision in their financial ratings after one of the nation's top rating ...

Florida Agent Association Tops 2,000 Members

The Florida Association of Insurance Agents, which represents thousands of independent agents statewide, has topped more than 2,000 ...
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South Central

Duration, Severity Drive Workers' Comp Claims Costs in Louisiana

Louisiana Workers' Compensation Corp. (LWCC) was created by the state legislature in 1991 in an effort to stabilize and revitalize the ...

Officials: New Orleans Ready for Hurricanes

The Army Corps of Engineers — responsible for the massive rebuilding of hurricane protection after the devastation of Hurricane Katrina ...

Experts: Oklahoma, not Texas, Had Hottest Summer Ever

Oklahoma and Texas have argued for years about which has the best college football team, whose oil fields produce better crude, even where ...
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West

More Containment on New Mexico Wildfire at 255K acres

Firefighters conducted more aerial ignitions over the weekend along pieces of the western boundary of the Whitewater-Baldy Complex wildfire ...

Hawaii Man Sues Vegas Casino Over Restroom Robbery

A Hawaii man is suing a Las Vegas hotel and casino where he was beaten and robbed in 2010, claiming Main Street Station was negligent in ...

Insurance Covers Some Of Loss Powell Hospital In Wyoming

An insurance payment of $205,000 will help compensate Powell Valley Healthcare for its loss due to the alleged embezzlement of nearly ...

Victim In Arizona Shooting Files Suit Against FBI

The surviving victim of a 2009 Arivaca, Ariz. home invasion that left a young girl and her father dead says the FBI should have prevented ...

DOE Proposes $150,000 Fine Against Bechtel

The Energy Department has proposed a $150,000 fine against Bechtel National last week for two construction incidents in Washington at the ...
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International

Willis Global Launches New Platform for Sector Growth

Willis Global, the London headquartered reinsurance, specialties and wholesale arm of Willis Group Holdings, announced a series of what it ...

Generali Directors Oust Group CEO Perissinotto; Zurich’s Greco to Take Post

The Board of Directors of Italy's Assicurazioni Generali announced that they had decided "by a majority to revoke the powers conferred on ...

Hagerty Classic Car Insurance Now Available to Canadian Brokers

Hagerty Insurance Agency, the specialist provider of collector vehicle insurance, announced that as of April 24, 2012 its subsidiary, ...

W. R. Berkley Receives FSA, Lloyd’s Approval for Syndicate Management Change

W. R. Berkley Corporation announced that the U.K. Financial Services Authority (FSA) and Lloyd's of London have approved W.R. Berkley ...

Olympic Travel Leads to Surge in Travel Insurance Sales

The 2012 Summer Olympics have provided a welcome boost for airlines, hotels and other travel suppliers that will benefit from an expected ...

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Annual Live Training Burn Educates Adjusters

Pat Andler, a certified fire investigator and owner of Andler & Associates discusses the...
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What do insureds look for when shopping for a carrier to provide director and officers...

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New Discussions in the Forums

What are your thoughts on the insurance industry
Posted: Mon Jun 4 -- Being an Insurance agent is really hard. Goodluck. stuartkarim
Do you use online leads services?
Posted: Sat Jun 2 -- I myself have used the top 4 services and had no luck at with them. i just found out the the same 4 lead companys are owned by the same... agentofTN
Work Comp for a Live Theater in California
Posted: Fri Jun 1 -- Looking for someone besides State Fund that will write Work Comp for a community theater. The company they are with now is non-renewing. I... bartman
Credit Card Processing
Posted: Fri Jun 1 -- Depending on your volume, we went with Square Up, no fees or monthly minimum, they charge .0275% per transaction, if you do not use it... texican
CA STATE FUND
Posted: Thu May 31 -- As a former State Fund Underwriter I have been frustrated as well. "Timely quotes-Not!" I have been having a... Santa Rosa Ins Broker
1-800-Car-Insurance
Posted: Thu May 31 -- I checked out your website, and your idea is interesting, though I wouldn't recommend it to anyone for the reasons I mentioned above. What... Robert742

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
Arkansas Teacher Sues District Over Anger Management Course
Posted: Thu May 31 -- explaining teacher's rights vs anger... sounds like the superintendant needs to go to one... he was angry because a teacher was being told... wudchuck
BofA Whistleblower to Receive $14.5M in Mortgage Case
Posted: Wed May 30 -- These financial institutions are almost as corrupt as the politicians. Chris Dodd made out like a bandit with his favorable loan terms with... Agent
Flood Insurance Program Extended Until July 31
Posted: Thu May 31 -- Continuing Resolution after continuing resolution just like they do on the budget which has been non existent for 3 years. These politicians... Agent
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

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June 4, 2012
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