Tuesday, June 19, 2012

Daily Headlines: Tuesday, June 19, 2012

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Insurance Journal Daily Headlines
June 19, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Rates for Good Drivers in Cities Too High, Too Variable, Says Consumer Group

The Consumer Federation of America (CFA) says that most good drivers -- those with no accidents or moving violations -- who live in ...

U.S., European Union Struggle to Overcome Regulatory Barriers

The United States and the European Union, stung by past failures to liberalize trade, are struggling over how to tackle regulatory barriers ...

PURE Introduces Flood Insurance Product for High-Value Homeowners

As Hurricane Season begins, Privilege Underwriters Reciprocal Exchange (PURE) has launched a flood coverage suite to owners of well-built, ...

Berkley Life Sciences Launches Coverage for Drug & Medical Device Shortages

Berkley Life Sciences, LLC, a member company of W. R. Berkley Corp., has released a new insurance created to address attempts to hold ...

From MyNewMarkets.com Facebook Fiasco, 'Blank Check' Companies Disrupt IPO Insurance Market

The Facebook initial public offering (IPO) fallout is just getting started, but its effects are already being felt in the insurance...
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East

Mass. Insurers Pledge to Keep Key Benefits of Federal Healthcare Law

The largest health insurers in Massachusetts say they plan to keep two popular provisions of the federal healthcare law even if the U.S. ...

Connecticut Receives $1M in Multi-State AIG Workers’ Comp Settlement

Connecticut Insurance Commissioner Thomas Leonardi announced Monday that the state has received just over $1 million in fines and penalties ...

Tropical Storm Irene’s Scars Healing in Adirondacks, Catskills in N.Y.

A replacement for one of the most well-traveled and iconic bridges in the Adirondack High Peaks was completed and opened to hikers Sunday ...

Former Mass. Lawyer Found Guilty of Stealing $186K From Clients

A former Greenfield, Massachusetts, attorney was convicted Monday in connection with stealing over $186,000 from an elderly couple he ...
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Midwest

J.M. Wilson Adds Underwriters in Kansas City

Managing general agency J.M. Wilson has added two underwriters to its Kansas City, Mo., team. Eric Shwarz is a new property/casualty ...

Wife of Slain Missouri Insurance Agent Gets 8 Years in Spouse's Death

A Missouri woman has been sentenced to eight years in prison for helping plan her husband's murder with the church pastor who was her ...

Wisconsin Manufacturer Struggling to Recruit Workers

A defense contractor that's one of northern Wisconsin's largest employers is struggling to recruit recent high school graduates for some of ...

Indiana Town to Foot Insurance Bill so Parade Can Go On

An Indiana town's Fourth of July parade is marching forward after officials stepped up to ensure the event would go on. The Lions Club ...

Computer Problems Mean North Dakota Work Comp Medical Bills Backlog

Many North Dakota medical providers who treat workplace injuries are having to wait for their bills to be paid. North Dakota's workers' ...
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Southeast

North Carolina Workers’ Compensation Outpatient Payments Growing: WCRI

Hospital charges for the treatment of injured workers in North Carolina are growing quickly in the wake of regulatory changes meant to ...

Alabama Readies Online Auto Insurance Verification System

Alabama's Revenue Department is launching an online system that will allow county license plate officials to verify whether a vehicle has ...

Prosecutors Say Alpha Has Improved Mine Safety Since West Virginia Settlement

Alpha Natural Resources has significantly cut its accident and injury rates in the six months since a landmark $210 million settlement that ...

Businesses Concerned Over South Carolina Hurricane Evacuation Plan

Hotel owners and tourism promoters along South Carolina's Grand Strand are concerned about new hurricane evacuation plans that take into ...

Lawsuit Filed Over Kentucky Tour Bus Wreck

A lawsuit has been filed on behalf of three students who were in tour bus crash in south-central Kentucky last week minutes into a trip to ...
South Central

Stanford’s Lawyers Plan to Appeal 110-Year Sentence

Former billionaire Allen Stanford was sentenced in Houston to 110 years in prison on July 14 for running a $7 billion scheme in which he ...

U.S. Settles Lawsuit Against Christus Spohn Health System Corp.

Federal prosecutors say a Texas-based hospital system has paid millions of dollars to settle a false claims lawsuit. Christus Spohn Health ...

Texas Attorney Convicted of Paying Bribe Money to Judge

A South Texas attorney has been convicted on charges related to bribing a judge for favorable rulings in court cases, including insurance ...

Safety Hazards at Texas Manufacturing Plant Lead to $58K in Fines

A manufacturing facility in Texas has been fined $58,000 by federal regulators for exposing workers to safety hazards. The U.S. Department ...
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West

Nuclear Plant Problems Continue at Socal Facility

After months of investigation, federal regulators have determined that design flaws appear to be the cause of excessive wear in tubing that ...

Travelers to Pay $10.5M in Premium Refunds And Fines

A settlement agreement has been reached in an enforcement action against Travelers Cos., with the company agreeing to pay $9 million in ...

Colorado Wildfire Rages: 189 Homes Destroyed

Another eight structures burned in the High Park Fire in Colorado overnight, brining the tally to 189 homes burned and making it the most ...
International

ANALYSIS: Big Greek Risk Morphs into More Economic Uncertainty

Greece's election has averted the immediate threat of a euro break-up, but it does nothing to restore the magic ingredient missing in the ...

Fairfax Runoff Sub RiverStone to Acquire All Shares of Brit Insurance Ltd.

The Netherlands-based Brit Group and Canada's Fairfax Financial Holdings Limited have announced that RiverStone, Fairfax' runoff ...

Xchanging Sees 40% Productivity Increase for Firms Using AOM Tool

Xchanging, the UK-based  business process and technology services provider and integrator, said it is "seeing radical benefits for firms ...

Best Downgrades Brit Insurance Ltd. Ratings; Keeps on Review/Negative

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to 'B++' (Good) from 'A-' (Excellent) and ...

Endurance Names Belfatti as Chief Actuary

Bermuda-based Endurance Specialty Holdings Ltd. announced that Michael Belfatti will join the company as Chief Actuary with responsibility ...

Starr Companies Appoint Childs CFO for International Operations

Starr Companies announced the appointment of Nigel Childs as Chief Financial Officer for the company's foreign operations.  He will be ...

Ratings Recap: Arab Misr, L'Union Canadienne, Gulf Insurance, Island Heritage, Eastern Re

A.M. Best Europe – Rating Services Limited has downgraded the issuer credit rating (ICR) to "bbb" from "bbb+" and affirmed the ...
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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

Track Your CSR's Daily Sales Activity
Posted: Mon Jun 18 -- We are already tracking everything we do on an account by an activity entry in our WinTam system. You can easily run a report that will show... kfrasier
Unfair Competition amongst brokers
Posted: Mon Jun 18 -- Private or public property notwithstanding, hire a couple of teenagers to video the activity. They know all the lesser known websites... jackwehoca
Can an employer fire an employee because their pre-convicted
Posted: Mon Jun 18 -- Can an employer fire an employee because their pre-convicted mugshot appears online on ... robertmarx
IA start up with a twist
Posted: Sat Jun 16 -- Thanks for the reply. Does this mean that this is how you started? Nothing new? Can you link me to a thread or article posted by someone or... JevonCC
Keeping Track of prospects
Posted: Sat Jun 16 -- paper and a pen. rodgwag
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

Reader Comments

How Predictive Modeling Has Revolutionized Insurance
Posted: Mon Jun 18 -- This quack science has been used effectively to restrict capacity and drive up price nothing more No more correct than man caused climate... bill ford
N.Y. Orders 'Force-Placed' Insurers to Submit New Lower Rate Proposals
Posted: Wed Jun 13 -- Here's a novel idea. How about the homeowner get their own insurance, that will stop the price gouging. Also they shouldnt lower the... FLagent/insured
Study Finds Little Earthquake Risk from Fracking
Posted: Mon Jun 18 -- "The fracking drilling technique used to tap shale oil and gas is unlikely to trigger earthquakes, but underground injection of waste water... EBA
Gov. Scott to Florida Insurance Agents: There's More Work Ahead
Posted: Tue Jun 12 -- Agree, Citizens policyholders may not have the means to pay a large assessment. Plus, since this assessment would follow a major disaster, I... SWFL Agent
NV Couple Sues Boy Scouts Over Son's UT Drowning
Posted: Mon Jun 18 -- "the boy experienced "great physical agony, pain and suffering in the knowledge of impending death, emotional distress … as well as the... Assunta

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