Friday, August 10, 2012

Daily Headlines: Friday, August 10, 2012

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Insurance Journal Daily Headlines
August 10, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Increased Chance of Above-Normal Atlantic Hurricane Season Despite El Niño

This year's Atlantic hurricane season got off to a busy start, with six named storms to date, and may have a busy second half, according ...

El Niño Almost Certain to Arrive In Next 2 Months: U.S. Forecaster

The U.S. government forecaster warned on Thursday that the feared El Niño phenomenon, which can affect global weather, is almost certain ...

Crop Insurers’ Payouts Already Top $800 Million This Season

U.S. crop insurers have already paid out $822 million in indemnities this season, but it is still far too early to tell how large the ...

Washington Explores Insurance, Other Protection for Futures Customers

U.S. regulators and futures industry players said on Thursday that there is no perfect solution to safeguard customer money in the wake of ...

Don’t Miss Out: Be a BEST Agency to Work For

Insurance Journal is once again searching for the best independent insurance agencies in the United States to work for and we hope you will ...

Advanced E&S Group Launches Community Association Debt Coverage

Advanced E & S Group has launched the Assessment Recovery Indemnity (ARI) program. ARI is a new insurance product underwritten by ...

JLT Facilities Introduces Non-Standard Lawyers PL Program

JLT Facilities, Inc., part of the Jardine Lloyd Thompson (JLT) Group, has established a non-standard lawyers professional liability ...

Markel Posts $89.7M Q2 Profit, Buoyed by Improved Underwriting Results

Glen Allen, Va.-headquartered Markel Corp. on Thursday posted $89.69 million net income to shareholders for its 2012 second quarter, a 197 ...

From MyNewMarkets.com Five Years Later: The Doctor's Co. Tribute Plan Benefits More Than Just its Members

When The Doctors Co. launched The Tribute Plan back in 2007, the goal of the program was to reward members for their loyalty to the medical...
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East

Connecticut Says Tougher Teen Driving Laws Showing Positive Results

This month, Connecticut is observing the four-year anniversary of the state's adoption of tougher teen driving laws. And officials say the ...

N.Y.-Based Broker Sterling & Sterling, Hyde Agency Form Joint Venture

Sterling & Sterling Inc. an insurance broker based in Woodbury, N.Y., and The Hyde Agency, a specialty surety bond broker in New York City, ...

Former Conn. Doc Sentenced for Illegal Prescriptions, Insurance Fraud

A former Plainville, Conn., doctor has been sentenced to four months in prison for dealing prescription drugs. Prosecutors say Richard ...

New Commissioner Joins Connecticut Workers' Compensation Commission

The Connecticut Workers' Compensation Commission announced this month that Stephen Morelli has joined the group as its newest ...
Midwest

Megabus Settles Lawsuit in 2010 Chicago Incident

Megabus has agreed to pay $5.1 million to the family of a man who was struck by a bus as he crossed a downtown Chicago street in 2010. Wes ...

CNA Appoints Kirchgessner Vice President of Umbrella

Chicago-based CNA Financial Corp. has appointed J. Michael Kirchgessner as vice president of Umbrella for Commercial Underwriting. ...

Overheated Food Trucks Raise Red Flags in Indiana

In recent weeks, "hot trucks" have made headlines as Indiana State Police found numerous food transport trucks driving with improper ...
What Makes a Risk Insurable? New training from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

Mississippi Police Officer Sues Over Facebook-Related Firing

A former police officer claims in a lawsuit that Greenville, South Carolina officials violated her free speech rights by firing her over ...

Tennessee Team Sued Over ‘Human Hockey Puck’ Stunt

A Nashville radio personality is suing the NHL Predators over an injury from the "human hockey puck" stunt. The suit by Adam "Intern ...
South Central

Lawsuit Results in $15.3M Returned to Oklahoma Hospitals, Doctors

Health care providers across Oklahoma will be receiving checks worth more than $15.3 million this month, Oklahoma Insurance Commissioner ...

Fifth Circuit Affirms 'Eight-Corners' Rule and Duty to Defend

Because the duty to defend is one of the most important aspects of liability policies such as Commercial General Liability coverage, it is ...

Wong Joins Lockton Dunning Benefits in Dallas

Lockton Dunning Benefits announced that Victor Wong has joined the Dallas-based health and welfare benefits practice's actuarial ...

Oklahoma, Federal Officials Assess Wildfire Damage

Oklahoma Gov. Mary Fallin and state and federal emergency management officials have surveyed parts of the state scorched by recent ...

More Than Half of Arkansas in Exceptional Drought

More than half of Arkansas is in exceptional drought status, which is the U.S. Drought Monitor's most severe classification. The map, ...
West

Bond Insurers Challenge Stockton’s Bankruptcy Over Pensions

Two bond insurers challenged the eligibility of Stockton, California, for bankruptcy, arguing that the city can cut pension benefits, a ...

California Judge Rejects Changes to Prop 33 Ballot Label

Sacramento Superior Court Judge Timothy Frawley has rejected in full arguments in a lawsuit by the insurance industry backers of ...

Workers' Comp Deal in the Works for California

In a hush-hush environment over the last several months it appears that those who seek workers' compensation reform have been given hope, ...

Montana Accounting Firm Settles Lawsuit Over Investments

A Montana accounting firm has reached settlements with six current and former farm and ranch owners who said they lost millions of dollars ...

10M Honolulu Police Suit Claims Excessive Force

A $10 million federal lawsuit claims Honolulu police used excessive force in restraining a man who suffocated. The Honolulu Star-Advertiser ...
International

Cyber Surveillance Virus from Mideast Can Spy on Bank Transactions

A new cyber surveillance virus has been found in the Middle East that can spy on banking transactions and steal login information for ...

India’s Basic Realities May Confound New Finance Minister’s Reform Agenda

The return of a pro-market reformer to India's finance ministry has cheered investors and contributed to a market rally, but Palaniappan ...

Hannover Re Reports 85% 1st Half Gain in Net Income to $497 Million

Hannover Re's interim report for the first six months of 2012 shows gains in all of the reinsurer's primary sectors. Highlights for the ...

Montpelier Re Announces Appointments in Property Treaty Operation

Montpelier Reinsurance Ltd., the Bermuda subsidiary of Montpelier Re Holdings Ltd., has announced several appointments in its Bermuda ...

Ratings Recap: Electrical Contractors’, Scotia, Société Centrale, Adamjee

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of ...
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Agriculture Business Prepared for This Year's Drought

Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,...
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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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New Discussions in the Forums

Management Liability
Posted: Fri Aug 10 -- Your client should also be discussing this with their legal counsel. If hey had a non-compete (which in most states wouldn't hold up in... Big Dog
Dave Ramsey
Posted: Fri Aug 10 -- Are you referring to any of his specific comments on insurance, or???? FWIW, he's highly regarded with respects to his counsel on personal... Big Dog
ARM
Posted: Fri Aug 10 -- The ARM is actually a very useful insurance designation/certification. Having this could open the door to work on the "client side" as a... Big Dog
Adding Value? Who Cares? And, who gets mad?
Posted: Fri Aug 10 -- "We are independent insurance agents and our firm agency policy is to not provide any advice or assistance whatsoever as we... rodgwag
Child Safety Alarm (MO)
Posted: Wed Aug 8 -- "Hotcoffee, It is possible.... but I need to know more about the process you are going through. You are saying you... hotcoffee
Agent no legal duty to inform on cancellations?
Posted: Tue Aug 7 -- I agree with Ins-atty's 8/7 post. Exercise common sense. My practice is to never call anyone about a late payment. My best customer (a large... ForumReader1
Track Your CSR's Daily Sales Activity
Posted: Thu Aug 2 -- "If the csr is doing their job they will not have time to write down ever phone call." I have to comment on this statement, with a... Brenda H

Reader Comments

South Carolina Restaurant to Pay $1.1M in Drunk Driving Death
Posted: Tue Aug 7 -- Are you kidding me? How can the lawyers sleep at night? Those that are truly victimized always seem to lose. v
Miami-Dade County to Vote on Pit Bull Ban
Posted: Tue Aug 7 -- Ban them! Realist
New York Enacts Law Allowing Gifts Worth Up to $25 From Producers
Posted: Thu Aug 9 -- While the politicians receive gifts of equal to thousands of dollars, they "approve" of a gift limit of $25 for producers. You can't even... DES
Despite GOP Governors, Feds Building Health Insurance Exchanges
Posted: Thu Aug 9 -- Actaully Captain and libby my brother was standing next to the "Spanish speaking undocumented worker". The Medicaid worker would ask the... Sargent Major
Calif.'s 9th Circuit Hands Former NFL Player Worker's Comp Loss
Posted: Wed Aug 8 -- Until I read this, I was a Bruce Matthews fan. If you look up the amount of money he made while playing in the NFL, it is sickening. He made... Vlad the Impaler

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