Tuesday, June 12, 2012

Daily Headlines: Tuesday, June 12, 2012

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Insurance Journal Daily Headlines
June 12, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Climate Change Will Alter Risks of Wildfire Worldwide: Study

Climate change is widely expected to disrupt future fire patterns around the world, with some regions, such as the western United States, ...

Big Corporate Political Spenders Often Worst Market Performers: Study

Despite a popular belief that spending on lobbyists and political gifts yield fat dividends for business, a study has found just the ...

Undoing Health Care Law Could Produce Ripple Effects

It sounds like a silver lining. Even if the Supreme Court overturns President Barack Obama's health care law, employers can keep offering ...

Ratings Recap: Toyota Motor, Medical Protective, AMERISAFE

A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating of 'A-' (Excellent) and issuer ...

ACE Adds Accident Coverage to Integrated Pollution, Casualty Form

ACE USA, the U.S.-based retail operating division of the ACE Group, has expanded its coverage for buyers of its combined general liability ...

HCC Medical Insurance Services Expands Travel Insurance to Sports Travel

HCC Medical Insurance Services, LLC (HCCMIS) has added sports travel insurance to their Atlas Travel Insurance policies at no additional ...

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

New York City Pension Fund Sues Wal-Mart Over Mexican Bribery Allegations

New York City's pension funds on Monday became the latest group to file a derivative lawsuit against Wal-Mart Stores Inc. based on reported ...

Delaware Chancery Court Allows Derivative Suit Vs. Botox Directors

Directors of Allergan Inc. must face a lawsuit over $600 million in fines the company paid for misbranding its Botox treatment to smooth ...

Fines Proposed for Ignoring Penn. Flooding Roadblock

State lawmakers are considering a bill that would penalize drivers who ignore roadblocks and plunge their vehicles into flooded roadways, ...

Towers Watson Exec Joins Marsh & McLennan’s Mercer Division

New York-headquartered Marsh & McLennan Companies appointed Rian Miller as general counsel of Mercer, a human resource consulting ...

Borch Joins Beecher Carlson Captive Unit in Vermont

Atlanta-based insurance brokerage and risk management firm Beecher Carlson has named John Borch as an accounting manager in its National ...
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Midwest

2011 Crash Leads to Costlier Insurance for South Indiana Boat Race

The group that organizes an Ohio River boat race and festival in southern Indiana has seen its insurance costs more than double after three ...

Ranck Joins XL Group's Excess Casualty Unit in Kansas City

The insurance operations of XL Group plc has expanded its excess casualty underwriting team in Kansas City, Mo. John J. (J.J.) Ranck joins ...

CNA Appoints Strakhov Vice President of Ohio Branch

Insurer CNA Financial Corp. has appointed Michael Strakhov as vice president of its Ohio branch, located in Columbus. Strakhov is ...
Southeast

Gov. Scott to Florida Insurance Agents: There’s More Work Ahead

Florida has made a good start on addressing some of the state's most pressing insurance issues such as pursuing ways to depopulate the ...

Study: Florida, Virginia Have Best Building Codes

Florida and Virginia have received good marks in a survey that looks at building codes in hurricane-prone states.The Tampa-based Insurance ...

Florida Agents Association Installs Rodgers as Chairman; Honors Gunter

The Florida Association of Insurance Agents installed its new officers and board members for the 2012-2013 at its annual Convention and ...

Hartman Named President, CEO of North Carolina’s Stonewood Insurance

Steven J. Hartman has been named president and chief executive officer of Stonewood Insurance Management Co. Inc. and its three affiliated ...
South Central

XL Group Adds Reece, Wyatt to Excess Casualty Team in Dallas

The insurance operations of XL Group plc has expanded its excess casualty underwriting team in Dallas. Barbara (Barby) Reece joins XL Group ...

Costner Downplays Baldwin's Role in BP Deal

Kevin Costner has testified he never saw actor Stephen Baldwin contribute anything to their company's efforts to sell oil cleanup devices ...

Arkansas Woman Gets 6 Month Jail Term in Work Zone Death

A Washington County Circuit Court judge has sentenced an Arkansas woman to six months in jail in connection with the death of a city ...
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West

Insurance Associations: West Wildfire Season Could Be Among Worst

As the fire season begins in the West insurance professionals who've been around for a while are calling this potentially one of the ...

KF&B Names Whiteside Vice President of Operations

Glendale, Calif.-based insurance wholesaler KF&B Inc. named Eric Whiteside vice president of operations. He will be working out of the ...

Motorcycle Deaths Declining In Idaho

A study by the Governors Highway Safety Association shows that the number of motorcycle deaths dropped in Idaho last year, but remained ...

Idaho Getting $790K In Drug Price Settlement

The Attorney General's office says the state of Idaho will collect $790,000 as part of a legal settlement with Forest Laboratories Inc. ...

Beecher Carlson Appoints Stevens as Senior VP in California

Atlanta-based insurance broker Beecher Carlson has named Stacy Stevens as senior vice president. In this role, she will be responsible for ...
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International

U.S. Exempts India, Other Countries, Not China, from Iran Sanctions

The United States extended exemptions from its tough, new sanctions on Iran's oil trade to seven more economies on Monday, leaving China ...

Deeper Euro Zone Integration to Take Time Says EU Commissioner Rehn

Tightening fiscal integration in the euro zone and surrendering more sovereignty in the name of deeper cooperation between member states ...

UK Insurers Face Floods Losses; May Raise Premiums

British insurers face big claims for flooding after the heavy rainfalls across the country this month, making it harder for them to hit ...

HDI-Gerling to Enter UK Auto Fleet Market

Industrial Insurance Company HDI-Gerling has announced it is expanding its product range in the UK to include Motor [Auto] fleet coverage. ...

Best Removes Allianz Risk Transfer Ratings fom Under Review

A.M. Best Europe – Rating Services Limited has removed from under review with negative implications and affirmed the financial strength ...
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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

FL. Septic Tank Contractor Market
Posted: Tue Jun 12 -- I am looking for a competitive market ( admitted if possible) for a septic contractor here in FLorida that installs, repairs, and pumps... January
Just another day in the retail insurance biz
Posted: Tue Jun 12 -- NY Agent you have some good points but as you know==as a general rule usage questions and rate class questions are there to otherwise help... William Graham
Credit Card Processing
Posted: Mon Jun 11 -- I have been shopping mine around as well. The best rate I have found has been with Trinity Merchant Group. You could contact Matthew Perry... beyert1
Try weekly reviews in your agency.
Posted: Mon Jun 11 -- I like to do a "weekly review" each Sunday for the upcoming week. Here are some things I look at: - If you keep a to-do list, review it... johnsharp
cpuc
Posted: Mon Jun 11 -- It's probably more helpful if you are looking to go to work on the carrier side of the business. LadyBroker
Symbol 31 on an Hyuandi
Posted: Mon Jun 11 -- Can anyone tell me why ISO woud have a symbol 31 on a 2012 Hyuandi Elantra? 4 cyl 1.6 ltr engine 4dr sedan. $ 23,000 for the vehicle.... inshru2

Reader Comments

Michigan Court Rules for Insurer in Tragic Hit-and-Run
Posted: Tue Jun 5 -- "unambiguous contract language has meaning" Conservatism/liberalism aside, we can be grateful there are still courts in the land capable of... Tolstoy
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
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??
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
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

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