Tuesday, July 31, 2012

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Daily Headlines: Tuesday, July 31, 2012

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Insurance Journal Daily Headlines
July 31, 2012
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Today's Headlines


What to Know About the New Flood Insurance Program

If it were a dam or a levee, it would have been replaced ages ago. Yet the National Flood Insurance Program (NFIP) has stayed afloat ...

US Congressional Negotiators Reach Deal on New Iran Sanctions

U.S. lawmakers moved a step closer to finalizing new sanctions aimed at further restricting Iran's oil revenues after negotiators from the ...

5 Ways How Not Using Coverage Checklists Benefits an Agency

I've written extensively about how the use of coverage checklists benefits an agency. The benefits include significantly reduced errors ...

From MyNewMarkets.com Concord Specialty Risk Coverage Addresses New IRS Reporting Requirements

Powered by InsuranceJournal.tv Managing General Underwriter Concord Specialty Risk, which specializes in reps and warranties insurance,...
Join us online this Thursday for a LIVE webcast, Commercial Auto Mistakes - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today

N.J. Regulator Conducts Financial Literacy Seminar for Senior Citizens

New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski conducted a seminar last week with a group of ...

Hundreds of Volunteers Still Helping Vermont Rebuild After Irene

Nearly a year after flooding from Tropical Storm Irene devastated villages up and down Vermont's rivers, hundreds of volunteers are ...

Md. Catholics Embark on 100-Mile Walk to Protest Birth Control Coverage

A Roman Catholic priest from Hancock is leading parishioners on a 100-mile walk to Baltimore to protest an Obama administration policy ...
Join us online Wednesday August 1 for a LIVE webcast, Develop Program Business Within Your Agency - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today

Early Storm Damage Tally for Ohio Reaches $29M

Early reports tallying damage from June storms in Ohio at $29 million have several Ohio cities anxiously hoping for federal disaster ...

Arthur J. Gallagher & Co. Acquires Grace/Mayer Insurance Agency

Arthur J. Gallagher & Co. announced the acquisition of Grace/Mayer Insurance Agency Inc. in Omaha, Neb. Founded in 1917, Grace/Mayer ...

Aon Adds 3 in Indianapolis Office

Aon has expanded its Indianapolis, Ind., office with the addition of three professionals. Frank "Skip" Treco joined the office as ...

Citizens Says No to Higher Rates on New Business; Approves 8.9 Percent Rate Hike

Officials of Florida's state policyholders-backed insurer turned away from several controversial plans that would have raised rates on ...

Facing Paltry Yields, Kentucky Farmers Hope Insurance Will Cover Costs

Kentucky agriculture is reeling from a summertime one-two punch of blistering heat and dry conditions, and farmers are feeling the pain ...

Georgia Regulators Recovered $4M for Consumers in First Half of 2012

Georgia Insurance Commissioner Ralph Hudgens' office announced that in the first six months of 2012, state regulators assisted 4,100 ...

Eastern Alliance Insurance Group Names Gulf South Territory Executive

Lancaster, Penn.-based Eastern Insurance Holdings Inc. has appointed Steven Weeks as regional business executive for the Gulf South ...
Join us online Thursday August 8 for a LIVE webcast, Errors & Omissions: What's Actually Being Covered? - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
South Central

New Louisiana Insurance Laws Address Citizens, Proof of Insurance, DWIs

In addition to suspending the 10 percent surcharge rule on property insurance provided by Louisiana's property insurer of last resort in ...

Texas-Based CBIZ Stoltz Expands National Energy Practice

Midland, Texas-based CBIZ Stoltz has added Mollye Hillman as an account manager and Richard Howard has joined the company as an account ...

Oklahoma Drilling Firm Faces Fines for Safety Hazards at Texas Site

An Oklahoma-based horizontal drilling company faces up to $55,000 in penalties for safety violations at a drilling site in Jacksboro, ...
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Insurance Company Sues Helena Diocese

An insurance company says it didn't sell policies to the Helena-based Catholic Diocese of Montana and is not responsible for covering costs ...

Jury Orders $187K In Damages In Hospital Lawsuit

A jury has ruled that St. James Healthcare in Butte is liable for $187,500 in damages for negligence in the 2006 death of a 36-year-old ...

New Mexico Pueblo Receives $11 Million in Flood Relief

A New Mexico pueblo hit by flooding after a wildfire scorched the area is receiving $11 million in federal assistance. The grant from the ...

Malpractice Claims At Alamogordo Hospital Settled

About 80 malpractice claims that forced an Alamogordo hospital to seek bankruptcy court protection last summer have been settled for more ...

Mercury Reports Net Loss From Increased Severity

Mercury General Corp. on Monday reported a net loss for the second quarter driven partly by an increase in severity trends, sending the Los ...

Geneva Association’s Fitzpatrick Warns against Mixing Bank and Insurance Regs

After 39 years of gathering, collating and disseminating the facts and figures relevant to the global insurance industry the world's ...

Earnings Reports: PartnerRe, Greenlight Re

Selected earnings highlights from Bermuda-based PartnerRe for the second quarter and the first six months of 2012 are as follows:   ...

Willis Opens New ‘Superyacht’ Office in Barcelona

Willis Group Holdings announced the imminent opening of new Superyacht insurance brokerage office at the prestigious MB92 shipyard in ...
Producer Development and Coaching starts next week, exclusively from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Insurance Journal Blogs

Rate Reform Must Be Key to Shrinking Citizens

Albert Einstein once said "a new type of thinking is essential if mankind is to survive and move toward higher levels." Or, as it often ...

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Insurance Journal TV

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New PURE Program Provides Extra Flooding Services for High-Value Homeowners

A new flood coverage suite from Privilege Underwriters Reciprocal Exchange, or PURE, now...
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Agency Capitalizes on Obamacare

Shawn Pynes, principal with Barney & Barney, discusses the benefits business following...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Posted: Tue Jul 31 -- If you have experience in life issues, what is your goal? it is difficult to maintain an expertise is every line of insurance. I am... mccluney
National Agents Alliance? Legit or Keep Away?
Posted: Mon Jul 30 -- Dallas Viper should go to work for Farmers Ins. They sell the same load of c--p too. Since he believes in Fairy Tales he would fit right in... Presl70
Independent Agency Growth Rate
Posted: Mon Jul 30 -- What would you say the average annual growth rate for your independent insurance agency is? I have read that between ten and twenty percent... WBF
Track Your CSR's Daily Sales Activity
Posted: Mon Jul 30 -- Please accept my apology in advance if I sound a bit skeptical. Just would like you to verify that you are an "honest-to-goodness" agency... jackwehoca
painting contractor in Ca for Comp
Posted: Mon Jul 30 -- Insured has been out of force for 45 days approximately. $100000 in payroll. Inside and outside painting class code 5482 No... trotter
D&O for Non Profit
Posted: Mon Jul 30 -- Do they have a website I can look at? I would have to see a submission to see exactly what their mission is .... Please forward a submission... ceccase
AMS360 for accounting?
Posted: Mon Jul 30 -- I found these two insurance journal articles to explain a lot about how accounting should function. Then maybe consider which systems can... Riskmaster

Reader Comments

Former Citigroup Chief Weill Surprises with Call for Break-Up of Big Banks
Posted: Thu Jul 26 -- It really is pretty simple TM. These big boys knew the sentiment would be they were too big to fail and the government would come to their... Agent
President Obama Declares Disaster for Virginia Storm Damage
Posted: Mon Jul 30 -- Funny how Obama declares FEMA assistance to Florida for a small tropical storm, Now Virginia FEMA assistance! Whats next Ohio for a storm... Sarah
California Court Reinstates Lawsuit Against Glock
Posted: Fri Jul 27 -- Here's a basic formula for all gun owners to memorize: guns + kids = tragedy Ins Guy
Obama Administration Says Federal Health Exchanges on Track for 2014
Posted: Mon Jul 30 -- The agenda is still in full swing despite the news that the majority of Americans still oppose it. In November, after we get a new... Agent
Texting Driver in South Dakota Charged with Manslaughter
Posted: Mon Jul 30 -- Sadly you can pass all of the laws you want but it will only stop the already law abiding, conscientious drivers from texting and talking on... LP

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July 23, 2012
Current Issue
Excess, Surplus & Specialty Markets Directory Vol. II

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[New post] UFO at Olympics Fireworks… A Couple More (and a comment)

[New post] Benjamin Fulford 7-31-12…”Why the West is now under Nazi rule and why the elite are in denial”