Thursday, June 14, 2012

Daily Headlines: Thursday, June 14, 2012

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Insurance Journal Daily Headlines
June 14, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Fitch: Workers’ Compensation Weakest Segment; Combined Ratio Worst in 10 Years

Workers' compensation, the largest commercial lines segment representing approximately 18 percent of commercial lines net written premiums ...

Ex-Partner Sues Dewey, Says Law Firm Was Ponzi Scheme

A former partner at Dewey & LeBoeuf has sued a group of the law firm's ex-leaders for fraud, saying they ran the now-bankrupt firm as a ...

Small Business Owners Dismiss Risk of Data Breach: Survey

As the number of data breaches involving smaller businesses continues to grow, a new survey by The Hartford finds 85 percent of small ...

Better Vehicle Design Is Saving Lives, Reducing Injuries

Better-designed, safer vehicles have contributed to an overall decline in crashes, deaths and injuries on U.S. roadways. In fact, design ...

Chubb Adds Covert Shipment Tracking to Suite of Security Services

The Chubb Group of Insurance Companies and FreightWatch International are teaming up against record-high levels of cargo theft. ...

Philadelphia Insurance Launches Commercial Flood Protection

Philadelphia Insurance Cos. has introduced a new commercial primary flood insurance product designed to be an alternative to businesses ...

From MyNewMarkets.com Regulations, Exclusions Driving Demand in Contractors Pollution Liability Market

An increase in contract requirements and government regulations has led to a surge in demand for contractors pollution liability coverage,...
Join us online June 28 for a LIVE webcast and learn, Future of Workers Comp - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
East

Upstate N.Y. Plant Hit With $233K in OSHA Fines

Federal workplace safety officials have hit a hair care manufacturer with fines of $233,000 for hazards at its upstate New York plant. The ...

Goldman Sachs Looking to Sell Off USI Holdings: Report

Goldman Sachs Capital Partners, a private equity affiliate of Goldman, Sachs & Co, may be looking to sell off USI Holdings, according to a ...

JetBlue Fliers File Suit in New York Over Pilot Scare

Ten passengers are suing JetBlue over a flight during which a pilot had to be physically restrained after screaming about religion and ...

500 School Officials to Attend Bullying Prevention Conference in Va.

Nearly 500 school officials from across Virginia are expected to attend a conference on bullying prevention next week. The conference is ...

Massachusetts Motorist Pleads Guilty in ‘Huffing’ Crash

A Dracut woman police said was deliberately inhaling compressed air while driving has pleaded guilty in a car crash that seriously injured ...

R.I. Proposes 6.75% Assessment Rate for WC Insurers for Coming Year

The R.I. Department of Labor and Training has proposed this week an assessment rate for workers' compensation insurers of 6.75 percent for ...
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Midwest

Rare Tornado Confirmed Last Week In Michigan’s UP

The National Weather Service has confirmed that a rare tornado touched down last week in Michigan's Upper Peninsula. WLUC-TV and The Mining ...

Some Fire Departments Facing Volunteer Shortage

As a result of the economic decline, local volunteer fire departments in Indiana are saying they have a shortage of firefighters. Steve ...

Treacy Appointed Senior Vice President of Finance at OneBeacon

OneBeacon Insurance Group Ltd. has appointed John C. Treacy as senior vice president of Finance. He is based in the company's U.S. ...

Major Michigan Wildfire Contained After 3 Weeks

Officials say a major wildfire in the Upper Peninsula area of Michigan that started about three weeks ago has been fully contained. The ...
Join us online June 20 for a LIVE webcast and learn, What are Green Endorsements - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

Insurance Executives Urge Political Stability in Florida

Until Florida creates an atmosphere of political and regulatory stability, and allows companies to turn a profit, the private market will ...

Former Zurich North America Executive Gilway to Head Florida’s Citizens

Florida's state-backed homeowners insurer has reached into the private sector for its new president, selecting an experienced insurance ...

West Virginia Residents Settle Final Slurry Pollution Claims with Massey

Hundreds of Boone County residents who blame coal companies for contaminating their water supplies settled their last remaining lawsuit ...

Database Cost Slows Mississippi Day Care Safety Program

While state changes may provide more subsidized child care in Mississippi, parents are on their own when it comes to investigating the ...

South Carolina Insurance Chairman Thomas Loses Re-Election Bid

South Carolina Senate Banking and Insurance Committee Chairman David Thomas has lost his re-election bid for an eighth term. Thomas was in ...

Keystone Insurers Group Adds Geogia’s Turner & Associates

Keystone Insurers Group has added Brunswick, Ga.-based agency Turner & Associates Insurance as its second franchise partner in the ...
South Central

Dallas Man Dies in Construction Accident In La

A 24-year-old construction worker from Dallas died when a load of plywood fell on him at the site of a new jail being built behind the ...

Grant Helps Louisiana City Crack Down On Underage Drinking

The Houma Police Department is using state grant money from Louisiana to crack down on underage drinking and smoking. The department was ...

Thousands Lose Electricity in Texas Thunderstorms

More than 20,000 homes and businesses lost electricity after storms rolled through parts of Texas. Utility officials say the largest outage ...
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West

Coyle Joins Integro

Integro Insurance Brokers named Hugh Coyle to its San Francisco office as principal and West Coast real estate development and construction ...

Former Medical Director Sues Hilo’s Bay Clinic

The former medical director of a Hilo, Hawaii clinic claims in a lawsuit she was forced to resign for being a whistleblower. Hawaii ...

Investigators Probe Death In Nevada Tunnel Accident

State safety regulators in southern Nevada on Tuesday began investigating a fatal construction accident in a water supply tunnel being ...

San Diego Utility Pays City $27 Million For Fires

An electric utility said Tuesday that it agreed to pay the city of San Diego, Calif. $27 million to settle claims over 2007 wildfires that ...

West Drought Conditions Make For 'Tragically Historic' Wildfire Season

In what could be shaping up to be one of the worst wildfire seasons in recent memory, insurers are scrambling to deal with the aftermath of ...
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International

German Chancellor Merkel Rejects ‘Miracle Solutions;’ Spain’s Debt Costs Soar

Chancellor Angela Merkel rebuffed pressure on Thursday for Germany, Europe's most powerful economy, to underwrite debt or guarantee bank ...

Willis Calls for Industry Action on ‘Black Swan’ Risks

"The insurance industry should move beyond traditional insurance solutions and start thinking of new ways to protect companies against the ...

Report: Japan to Pass Bill to Insure Iran Oil Imports

Japan's lower house is set to pass a bill on Friday to provide government guarantees on insurance for Iranian crude cargoes, making it the ...

Southport Lane Acquires Redwood Reinsurance

Southport Lane, a New York-based private equity firm, has acquired Redwood Reinsurance SPC, Ltd., a Cayman Islands-based reinsurer that ...

Mitchell to Head Willis’ FINEX Asia-Pacific Unit in Expanding Market

"As companies continue to expand within the Asia Pacific region and beyond its borders, they are becoming increasingly exposed to risks ...

Ratings Recap: Farmers Mutual (NZ), Lloyd’s Syndicate 1084, Pacific Indemnity, Caribbean Alliance

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a" of the New Zealand-based ...
Insurance Journal Blogs

So Many Social Media Sites, So Little Time

Congratulations. You've set up your company's Facebook, LinkedIn, and Twitter accounts. Now you just have to log into each one, post ...

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Insurance Journal TV

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Health/Benefits Sector Offers Potential Growth for P/C Agents

Despite the uncertainty over the changes occurring in healthcare delivery and insurance...
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Caution: D&O and Foreign Shareholders

Firms that heralded a 2010 U.S. Supreme Court case barring plaintiffs from bringing class...

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New Discussions in the Forums

Standalone Personal Articles Floater - California
Posted: Thu Jun 14 -- abacus.net seems interesting. Naturally, we prefer a carrier that we can work directly with instead of going through another agency. We're... onstar
CA Electrical Contractor BOP/GL
Posted: Wed Jun 13 -- Travelers Select will most likely write this risk. If you don't have access to them, we can access them for you. We are a wholesaler in CA... chrisg
Just another day in the retail insurance biz
Posted: Wed Jun 13 -- Send him this link and then ask him about the 2 illegal aliens that work for him without workers' comp while he's not working those 30... gmann1957
Calling all experienced MGAs...is this a fair deal?
Posted: Wed Jun 13 -- Why not see if you can pay one of the current CSR's at the agency to handle cert requests on his/her own time or hire an outside CSR on a... jackwehoca
FL. Septic Tank Contractor Market
Posted: Wed Jun 13 -- I'd be glad to help. Admitted for an Environmental Contractor in FL will be tough. I've got markets, and can write it very easily. My... Adame526
Credit Card Processing
Posted: Tue Jun 12 -- I am also a small agency and do very few credit card transactions. The rate is one piece of the pie but the monthly fee is what can eat you... beyert1
Symbol 31 on an Hyuandi
Posted: Tue Jun 12 -- Keep in mind that ISO adjusted their symbols effective model year 2011 that now go up to 75 instead of 27. This 31 is equivalent to the old... davictor52

Reader Comments

C.M. Meiers Preliminary Injunction Decided, But Far From Over
Posted: Fri Jun 8 -- Are you kidding? Obviously you must love soap opera's you're always commenting you seem to have some sort of grudge, get over it, they... IA
Administration Ready to Respond on Healthcare Reform Ruling
Posted: Mon Jun 11 -- I would agree with you,but you got the guy wrong. If we re-elect Obama, the country is toast before the end of his second term. First Agent
Georgia Mom Posed as Dead Son to Collect $151K From Insurance Policy
Posted: Fri Jun 8 -- Typically, the IJ article misses important stuff, such as this from the The Atlanta Journal-Constitution: "When she submitted a claim, she... Dot Hemath
Couple Sue Over Fallen Waikiki Tree Branch
Posted: Mon Jun 11 -- So a law was in place to protect the tree rather than folks who might walk under it. I think our priorities are askew. Water Bug
Court Revives Employee Lawsuit Over Racist Receipt
Posted: Mon Jun 11 -- I don't get it. I have been called all kinds of names and have had racist epiphets hurled at me over the years. My sister and I once asked... Water Bug

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June 4, 2012
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