Monday, July 16, 2012

Daily Headlines: Monday, July 16, 2012

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Insurance Journal Daily Headlines
July 16, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

New Law on BP Oil Spill Promises States More in Restoration Monies

U.S. Gulf Coast states have a higher stake in the amount of money the U.S. government can wring out of BP Plc for the 2010 Deepwater ...

A Year Later: Growth and Outlook of LexisNexis Insurance Exchange

The LexisNexis Insurance Exchange — an online single-entry submission system that streamlines the flow of application data among agents, ...

Zodiac Insurance Services to Distribute IronPro Small Business Coverages

IronPro, the U.S. professional and management liability unit of Ironshore, has announced a strategic alliance with Zodiac Insurance ...

Chartis Enhances, Expands Private Client Group’s Wildfire Protection Unit

Chartis has enhanced its Private Client Group division's Wildfire Protection Unit, including geographic expansion and improved monitoring ...

From MyNewMarkets.com How Agents can Help Identify, Address Data Risks Small Businesses Face

A recent study revealed that organizations with fewer than 1,000 employees make up 85 percent of hackers "targets of...
Join us online Thursday July 19 for a LIVE webcast, Insurance Industry Mergers and Acquisitions Activity - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
East

In Massachusetts Senate Race, Health Care Still Hot Topic

In Massachusetts' contentious U.S. Senate race, few issues divide the two candidates more sharply than the health care law signed by ...

Vermont Woman Loses Health, Home to Post-Irene Mold

A Vermont woman says she's been forced from her home by mold that Tropical Storm Irene left behind, and she's had trouble getting help for ...

Pennsylvania State Workers’ Insurance Fund Consolidates 2 Divisions

Pennsylvania's Department of Labor & Industry-operated State Workers' Insurance Fund (SWIF) said today that it is consolidating the SWIF ...

New York State Hands Out $16M in Flood Control Grants

New York Gov. Andrew Cuomo says the state will give $16 million in grants to communities hit by last year's damaging storms. The state ...

Insurance Women of Richmond, VA Install New Officers

The Insurance Women of Richmond, VA, recently installed new executive officers. Melanie Miller, systems analyst at Argo Group International ...
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Midwest

Health Care on Agenda When Michigan Lawmakers Return

Michigan Gov. Rick Snyder and his fellow Republicans could find themselves knee-deep in health care issues soon when lawmakers briefly ...

Main Street America, Austin Mutual Insurance Affiliation Finalized

The Main Street America Group, based in Florida, has completed the process of bringing Minnesota-domiciled insurance carrier, Austin Mutual ...

Indiana Town May Require Proof of Insurance for Special-Event Dances

Terre Haute, Ind., officials are considering new regulations on dances organized by event promoters, saying they are worried about violent ...
Join us online Wed July 18 for a LIVE webcast, Managing Workers Compensation Injuries - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

Farm Bureau Dropping 3,000 South Carolina Homeowner Policies

Farm Bureau Insurance said it is dropping about 3,000 South Carolina home insurance customers after paying out millions in storm-related ...

Florida’s Citizens to Weigh Rate Hikes Today

The new president of the state-backed Citizens Property Insurance Corp. meets with the insurer's governing board for the first time, ...

North Carolina Resolves Media Concerns Over Workers’ Comp Data

North Carolina officials have found a way to resolve media groups' concern over public access to some employers' workers' compensation ...
South Central

Louisiana Citizens Sets Annual Katrina-Rita Bond Assessment

Homeowners insured by traditional insurance companies will pay $54 on average next year on their insurance policies to cover bond payments ...

Houston-Area Rain Floods Homes, May End Drought

Historic rainfall levels that drenched the Houston area last week flooded dozens of homes and caused widespread street flooding, but the ...

Number of April Tornadoes Set Record in Oklahoma

Timing rather than a trend seems to be the key as to why Oklahoma has broken the state record for tornadoes in the month of April the past ...

Bondurant Rejoins Independent Insurance Agents of Texas

After a hiatus of nearly two years, Rick Bondurant has rejoined the Independent Insurance Agents of Texas (IIAT) staff as director of ...

USG Adds Reilly in Workers' Compensation Division

USG Insurance Services Inc., a national wholesaler and MGA, has expanded its Allied American Underwriters operations in Benton, Ark., and ...

U. of Central Arkansas Receives $100K Donation for Risk, Insurance Program

A company has pledged $100,000 to create an endowed professorship in the Insurance and Risk Management program at the University of Central ...
West

Reno Donates $75,000 Toward Air Race Insurance

Even after a local agency agreed to donate $75,000 the Reno Air Racing Association remained $1 million short of the amount it needs to meet ...

Calif. Drivers Will Be Allowed To Text, With Restrictions

California drivers will be allowed to text when they're behind the wheel of a car, as long as they're using a hands-free device, and with ...

U. Of Hawaii Turned Down Concert Insurance

University of Hawaii turned down concert insurance when $200,000 was paid for a Stevie Wonder concert that officials later learned wasn't ...

Tainted Montana Town Reaches Cleanup Milestone

Grass and freshly planted trees are sprouting in a new town park that sits atop the site of a vermiculite plant that once spewed asbestos ...

Motorcycle Registration Up 20,000 In Utah

A state agency reports more than 20,000 additional motorcycles have been registered in Utah this year. The Utah Highway Safety Office ...

Rains Cause Lake Havasu City Flooding, Man Dies

Heavy rains caused flash flooding in parts of western Arizona, and a 38-year-old man died as a result of the high waters in Lake Havasu ...
International

Cancelling London Olympics Would Cost over $4.9 Billion: Munich Re

Cancelling the London Olympics due, for example, to a security threat would result in damages of more than €4 billion ($4.9 billion), ...

UK Auto Insurer Direct Line in Play as Private Equity Groups Circle

Direct Line, the UK's largest motor [auto] insurer run by government-owned Royal Bank of Scotland, is a takeover target for private equity ...

EU under Pressure to Delay Solvency II Insurer Capital Rules

The European Union may be forced to put back the January 2014 start date for its Solvency II capital regime for insurers after talks to ...

Bid Deadline Nears for ING’s Asia Insurance Business

A wide range of suitors, from the son of Asia's richest man and a former rugby player in New Zealand to more established players including ...

Willis Obtains Commercial Lines Intermediary License from Guernsey

Willis Group Holdings announced that it has been issued a full commercial lines license to conduct insurance intermediary services in ...

Best Affirms SCHWARZMEER UND OSTSEE (SOVAG) Ratings; Outlook Stable

A.M. Best Europe Rating Services Limited has affirmed the financial strength rating (FSR) of 'B++' (Good) and the issuer credit rating ...

Ratings Recap: Jubilee (Pakistan), Montana Re (notes), United

A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of 'B++' (Good) and issuer credit rating of "bbb" ...
Insurance Journal Blogs

Rep. Royce takes his NAIC questions to Treasury

Dissatisfied with the answers he's received from the group itself, U.S. Rep. Ed Royce, R-Calif., is turning to Federal Insurance Office ...

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Insurance Journal TV

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LexisNexis Insurance Exchange Celebrates One-Year Anniversary

The LexisNexis Insurance Exchange – an online single-entry submission system that...
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Solvency II Advisor Sees Local Politics as Threat to Implementation

Colm Fagan is one of Ireland's most respected insurance executives. He is a member of the...

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New Discussions in the Forums

AMS360 for accounting?
Posted: Sun Jul 15 -- My question still is: how do you calculate the amount of earned commission in the trust account. The client sends us a gross premium check,... insstudent
Could your music influence your insurance score?
Posted: Sat Jul 14 -- BostInno reported The Echo Nest recently... Josh
Agent no legal duty to inform on cancellations?
Posted: Fri Jul 13 -- The first thing everyone needs to remember here is,"Do you want to have to defend a lawsuit." Wheather you are right or wrong a win in court... Presl70
Garage Keepers Liability - Tow Truck Yard - CA
Posted: Fri Jul 13 -- standalone GKL runs 3k up. It might be better to write a package with national Int or Nova etc.. vs writing the Autos with a non standard... JAM
HELP...Waiver, Rider, GL Policy, ??
Posted: Tue Jul 10 -- First, do NOT post any documents here. This is discoverable, so you do not want anything to turn up in court that is not specifically... jimmyr1978
RV Rental for Dealership
Posted: Mon Jul 9 -- Maybe progressive will do it. karenmorris
Chicago IL area insurance agencies who sell TRAVEL Insurance
Posted: Mon Jul 9 -- How much does it cost? Is it per trip or per year? karenmorris

Reader Comments

President Obama Signs Flood Insurance Reform Bill
Posted: Wed Jul 11 -- this is a very old article, you will notice it says proposal not law. It is also what they passed before they read it. Remember they had to... Sarah
Tropical Storm Creates New Beach on Alabama Coast
Posted: Wed Jul 11 -- why no pic or link to a pic? Mark
Florida Adjusters Win Free Speech Case Against 48-Hour Solicitation Rule
Posted: Tue Jul 10 -- 50% would be high I think. Truthfully there are only a few bad actors on the carrier side in general. On the PA side it's full of bad... Mr. Solvent
Massachusetts Businessman Fights AT&T Over $1M Phone Bill
Posted: Tue Jul 10 -- I don't understand how it would cost $900,000.00 to call anywhere in the world....Was it a ... Common Sense
New License Rules Test Georgia Drivers' Patience
Posted: Tue Jul 10 -- How it managed to get to this point is that the liberals can find a conspiracy in anything. I have always wondered myself how requiring ID... Bob

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