Daily Headlines: Tuesday, July 24, 2012

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July 24, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Insurers Urge Incentives for States to Adopt Stronger Building Codes Property/casualty insurers are backing a measure in Congress to incentivize states to adopt stronger building codes. The National ... Walnut Place Drops Objections to $8.5 Billion BofA Deal; AIG Still Questions Walnut Place, an entity that had challenged a proposed $8.5 billion settlement between Bank of America Corp. and investors in failed ... CarFax Says Patent for Vehicle History Data Use in Insurance Approved Carfax Inc. reported that federal officials have approved its patent applications for its auto insurance underwriting and rating system ... Catlin Appoints McMellin to Succeed Banas as U.S. CEO The Bermuda-based Catlin Group Limited announced that Andrew McMellin, currently the group's deputy chief underwriting officer, will ... Relocation Insurance Group Launches Full Value Protection Moving Coverage Relocation Insurance Group (dba Moving Insurance LLC) has launched a new moving insurance product designed to assist interstate moving ... New Program Provides Extra Flooding Services for High-Value Homeowners Powered by InsuranceJournal.tv A new flood coverage suite from Privilege Underwriters Reciprocal Exchange, or PURE, now offers another... More National News East New York Licenses First Mutual Bond Insurer for U.S. Municipal Market New York State's Department of Financial Services announced this week that it has licensed Build America Mutual Assurance Company (BAM) to ... USI Insurance Services Acquires Kelly Insurance Brokerage in New York USI Insurance Services, an insurance brokerage and financial service firm in Briarcliff Manor, N.Y., completed its acquisition of New ... Vermont Launches Photo Contest to Showcase State’s Recovery From Irene Vermont Gov. Peter Shumlin is asking Vermonters to share their best photographs of Vermont since Tropical Storm Irene to celebrate the ... Integro Insurance Executive Joins Frank Crystal & Co. in New York New York-based brokerage firm Frank Crystal & Co. has appointed Walter S. Tomenson III as producer and executive director. He will report ... Zurich Appoints Credit & Political Risk Director in Washington, D.C. Zurich, Switzerland-headquartered Zurich Insurance Group appointed Dave Anderson as credit and political risk director for global business ... More East News Midwest Crop Insurance Helps Farmers Now More Than in 1988 Drought U.S. crops are taking a beating in the worst drought since 1988 but most farmers are not sweating like they did 24 years ago when a drought ... Zurich Insurance to Add 150 Jobs in Chicago Zurich Insurance plans to add 150 jobs to its workforce in Chicago. Zurich is a commercial property-casualty insurance provider that ... Ohio Supreme Court: Corporation Must Advance Defense Costs for Director The Supreme Court of Ohio has ruled that a corporation can't avoid paying the legal defense expenses of a corporate director who is sued ... Davies Named CEO of Ohio-based SafeAuto Insurance Columbus, Ohio-based insurer, SafeAuto, announced that Ron Davies, former senior vice president with Allstate Insurance Co., will take over ... More Midwest News Southeast North Carolina Property Insurance Reform Law Comes Up Short North Carolina's property market problems are well known but thus far answers remain elusive even after lawmakers approved a bill that ... Costs Driving Changes, Opportunities in New World of Benefits Brokerage Group health insurance brokerage is changing but the changes are not primarily due to Congress or the courts. Rather the changes are being ... Wholesaler Socius Opens Alabama Office; Names Stickley as VP San Francisco-based Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has opened an office ... More Southeast News South Central Authorities: 13 Dead After Truck Crashes in Texas A pickup truck overloaded with passengers veered off a highway and crashed into trees in rural South Texas on July 22, killing at least 13 ... Idea of Creating DWI Tracking System in Louisiana Revived The idea of creating a statewide DWI tracking system in Louisiana is gaining steam again. The Advocate reports that the 2004 death of an ... USG Announces New Houston Office USG Insurance Services Inc., a national wholesaler and MGA, is expanding its Texas operations with a new office in Houston. Rose Perez, ... Improved Fire Rating Expected to Lower Insurance Costs in Louisiana Town Homeowners in Vinton, La., can expect lower insurance rates after the rating for the town's fire department was raised. KPLC reports the ... More South Central News West Man Sues Maui Police For Buttock Gunshot Wound A lawsuit claims a man suffered a traumatic gunshot wound to his buttock by Maui police officers. Anthony Lum-John claims officers used ... White Joins Thoits Insurance as Vice President Cary W. White joined San Jose, Calif.-based Thoits Insurance as vice president. White is responsible for new business production, client ... Aces Names Meeker Product Development Director Managing general agent Aces Commercial Insurance Services Inc. named Ken Meeker as director of product development. His goals are on market ... More West News International China Drafts Rules for Insurers to Raise Private Equity Stakes; Trade Derivatives China plans to double the amount insurers can invest in private equity and allow them to trade financial derivatives both at home and ... AIR Analyzes Fallout from Heaviest Rainfall to Hit Beijing since 1951 According to catastrophe modeling firm AIR Worldwide, on Saturday, July 21, a heavy storm in China delivered as much as 18 inches [45.72 ... Japan’s All Nippon Airways Grounds Dreamliners, Citing Engine Corrosion Risk Japan's All Nippon Airways said on Monday it grounded part of its fleet of 787 Dreamliners after tests revealed a risk of engine corrosion, ... AIR Expands Suite of Catastrophe Models for Australia Catastrophe risk modeling firm AIR Worldwide announced the expansion of its suite of catastrophe models for Australia "with the release of ... Fairfax’s Watsa Raises Stake in BlackBerry Maker RIM to Nearly 10% Canadian investor Prem Watsa, dubbed the "Warren Buffett of the North," has nearly doubled his company's stake in embattled BlackBerry ... UK’s Pioneer Underwriting to Launch Professional Indemnity Team Pioneer Underwriting, which conducts business in partnership with Liberty Syndicates, has launched a new specialty unit, Pioneer PI that ... More International News Sponsored Content Astonish Launches New Website with Insurance Industry Marketing Tools Warwick, RI, 07/24/12 - Astonish, a Digital Marketing Company catering to Local Insurance Agencies, Financial Services and Group Benefit ... More Sponsored Content Insurance Journal Blogs Investing In Your Agents Merriam-Webster defines marketing as an "aggregate of functions involved in moving goods from producer to consumer." What if there was a ... More Blogs Join the Insurance Journal Network Insurance Journal TV Agency Capitalizes on Obamacare Shawn Pynes, principal with Barney & Barney, discusses the benefits business following... Watch Now LexisNexis Insurance Exchange Celebrates One-Year Anniversary The LexisNexis Insurance Exchange – an online single-entry submission system that... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Reservation of Rights HELP Posted: Tue Jul 24 -- Let me guess....the carrier is AIG, right? Big Dog AMS360 for accounting? Posted: Tue Jul 24 -- How do you calculate the EARNED commission that can be (legally) transferred to the Operating Account? insstudent Agent no legal duty to inform on cancellations? Posted: Tue Jul 24 -- Earlybird is precisely correct. Not chasing down your revenue-creating premium is the thin-end of the wedge. Why wouldn't an agency remind... Erik M. Olsen, CIC Commercial Auto Coverage for Golf Carts Florida Posted: Mon Jul 23 -- no, Colony will not COMMCOV Personal Lines - Renewal Letters? E&O Prevention Posted: Mon Jul 23 -- Do you know the particular court case name for a proper citation? surestart12345 Insurance Noodle vs. Superior Access vs. Agent Secure Posted: Mon Jul 23 -- There is another great alternative out there but you have to qualify. What state are you in? And what is your experience level. JAM Insurance aggregators/Groups for personal lines Posted: Fri Jul 20 -- There are many options available and each are uniquely different. Whether there is a monthly fee, a broker fee, reduced commissions,... amckirahan carriers for multistate trucking/warehousing work comp Posted: Fri Jul 20 -- There are a couple different PEO options available to cover this type of risk with varying levels of deductibles. Could also help with the... Chad Filley work comp carriers for nursing home Posted: Fri Jul 20 -- I deal with several PEO's that will offer comp for this type of risk and can offer various levels of deductibles as well. Give me a call to... Chad Filley Go to Forums Reader Comments Casino Waitresses in Pennsylvania Sue Over Maternity Policy Posted: Tue Jul 17 -- Was this policy in force when the waitresses accepted their positions? If so, then too bad for them. The casino still tried to keep them... Reverend Haywood Judumee State Farm: Sandusky's Homeowners Policy Doesn't Cover His Legal Bills Posted: Mon Jul 23 -- So Sandusky wants the insurance companies to pay his defense costs...REALLY? Put him in Jail and throw away the Key....or better yet, just... Longtime Broker Ex-School Nurse in Texas Gets 10 Years for Fire Posted: Mon Jul 23 -- I'm betting her next evaluation will include something like "Doesn't accept constructive criticism very well" Markey Florida Citizens' Chief Sets 500K Policy Depopulation Target Posted: Thu Jul 19 -- I'll help. There would be plenty for the both of us. Mr. Solvent CEO Group Warns Washington to Avoid Impending 'Fiscal Cliff' Politics Posted: Fri Jul 20 -- I agree Sargent. A good example of incompetence is one I am familiar with. One of my customers owns a Commercial Office property. An... Agent Go to Popular Comments Subscriber Tools Send this to a friend Subscribe Unsubscribe Submit News Contact Us Current Issue July 23, 2012 Excess, Surplus & Specialty Markets Directory Vol. II More Newsletters Choose Newsletters Daily Headlines Weekly Reader Picks Magazine Update Insurance Journal TV Classifieds Breaking News MyNewMarkets Daily Claims Daily Enter Your E-mail Market Directories Excess & Surplus Markets Programs Workers' Comp Markets New Insurance Jobs Commercial Producers Territory Marketing Manager P/C Insurance Editor Producer Have a job opening? List it on our Web site. How to Advertise For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148. View our Media Kit for advertising options in our magazines and online properties. 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