Thursday, August 23, 2012

Daily Headlines: Thursday, August 23, 2012

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Insurance Journal Daily Headlines
August 23, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Crop Insurers Could Face First Overall Loss in 10 Years: Moody’s

Record-setting droughts in the U.S. Midwest throughout 2012 are likely to result in substantial gross insured losses for crop insurers and ...

Tampa, Host of Republican Convention, Prepares for Possible Hurricane Isaac

Tropical Storm Isaac is posing a potential threat to next week's Republican National Convention in Florida, which culminates in the ...

In Apple v. Samsung, Attention Turns to Alchemy of Damages

Between the hotshot designers and brainy engineers Apple Inc. questioned for three weeks in the company's bitterly fought patent battle ...

USI to Acquire TD Bank’s U.S. Insurance Subsidiary

USI Insurance Services, a brokerage and financial service firm based in Briarcliff Manor, N.Y., has agreed to acquire TD Insurance Inc., a ...

CPCU Society’s Brown to Also Lead Griffith Foundation

The Griffith Insurance Education Foundation has named Kevin H. Brown as its executive director. The organization said that this new role ...

Allstate Names Gupta as Chief Marketing Officer

Personal lines insurer Allstate (has named Ally Financial's Sanjay Gupta to its senior leadership team as executive vice president and ...

Gridiron Insurance Releases E-Portal Product

Gridiron Insurance Underwriters, Inc., a program manager that specializes in writing program business on a regional and national basis ...

Travelers Sues NFL Over Ex-Players’ Brain Injury Lawsuits

Several subsidiaries of Travelers Companies Inc. sued the National Football League and a host of other insurers, seeking to avoid paying to ...

From MyNewMarkets.com Markel FirstComp Unveils New Name, New Agent Portal

Markel and FirstComp have announced a new brand – Markel FirstComp – and a new independent agent portal. Founded in 1997,...
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East

New York Gov. Cuomo Vetoes State Agency Mailing Bill

New York Gov. Andrew Cuomo vetoed a bill (S.6285-A/A.9034B) last Friday that would have banned state agencies from disseminating ads to the ...

2 Hurt by Text-Messaging Driver in N.J. Settle Lawsuit

A couple who each lost a leg when their motorcycle was struck by a teenager who was driving and texting have settled their lawsuit against ...

N.Y.-Based Reinsurer Southport Re Appoints Chief Actuarial Officer

Southport Lane, a New York-based private equity firm, has appointed Jim McNichols as chief actuarial officer of its reinsurance group, ...

N.J. Bill to Toss Limits on Abuse Lawsuits Stalls

A bill that would get rid of statutes of limitation for lawsuits over child sex abuse has stalled in New Jersey's Senate ...
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Midwest

Joplin Tornado Spurs Change in Missouri Mutual Insurance Rules

State regulators say mutual insurance companies that provide property coverage to rural Missourians will be financially stronger because of ...

Glazier and Schmitt Join Lockton in Chicago

Lockton has added Don Glazier and Michael Schmitt in the insurance broker's Chicago operation. Glazier joins Lockton Financial Services ...

U.S. Salmonella Outbreak Tied to Indiana Farm Melons

U.S. health regulators said cantaloupe from Chamberlain Farms in Indiana may be one source of a multi-state outbreak of salmonella that has ...
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Southeast

Florida Keys’ Citizens Look to Lower Islands’ Risk Profile, Rates

Frustrated by rising premiums, reduced coverage and a single market, citizens and officials in the Florida Keys are hoping to convince ...

South Carolina Man Admits to Sawing Off Man’s Hand for Insurance Money

A South Carolina man pleaded guilty this week to a federal fraud charge, acknowledging his role in an insurance scheme that cost a mentally ...

Mississippi Supreme Court Orders Trial in Car-Horse Accident

The Mississippi Supreme Court has order a trial in a lawsuit over a George County accident involving a car and a horse. The personal-injury ...

North Carolina Does Poor Job Tracking Workers’ Comp, Tax Scofflaws: Newspaper

North Carolina state agencies do a poor job communicating with each other to identify employers who are possibly breaking the law because ...

Tropical Storm Isaac Strengthening; Floridians, Citrus Growers Begin to Worry

New York orange juice futures jumped more than 5 percent on Wednesday after U.S. forecasters warned Tropical Storm Isaac would strengthen ...
South Central

A Year Later: Bastrop, Texas Fire Victims Thankful for Assistance

The home of John and Lisa Whitt was reduced to ashes in the Bastrop Labor Day fire in Texas last year, but today, they feel like they have ...

Woman Sues Dallas Cowboys, Claims Bench Burned Buttocks

A Texas woman is suing the Dallas Cowboys and owner Jerry Jones, saying her buttocks was severely burned when she sat on a bench outside ...

Rules Protecting Against Hospital ‘Balance Billing’ Suspended in Texas

In a move that's angered consumer advocates and doctor groups, Texas' top insurance regulator has canceled new rules designed to help ...
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West

Calif. School District Sued Over Sex Ed Program

A school district in California's Central Valley is putting teens' health at risk by failing to provide students with information about ...

Higher Insurance Premiums Proposed For N.M. Workers

Gov. Susana Martinez's administration is proposing a 15 percent increase in premiums for health insurance covering about 73,000 state and ...

Weak Earthquake Shakes Colorado Mountains

A weak earthquake has hit the Colorado mountains. The National Earthquake Information Center says the quake Tuesday afternoon registered a ...

Poll: Little Faith for Lasting Workers' Comp Reforms in Calif.

People overwhelmingly believe workers' compensation premiums will rise if no reforms come out of a bill currently in the works in state ...

EPIC Ledbetter in Fresno Office

Folsom, Calif.-based EPIC (Edgewood Partners Insurance Center) named Sarah Ledbetter as a property & casualty insurance account manager ...
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International

UPDATE: TS Isaac on Track to Hit Florida; Strengthening Expected

The most recent update from the National Hurricane Center in Miami (5:00 a.m. AST) located the center of tropical storm Isaac southwest of ...

Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes

Fitch Ratings has issued a statement which points out that the "spate of Asia-Pacific catastrophes in the past two years have prompted ...

U.S. Exports Seen at Risk as Russia Enters WTO

U.S. agricultural, aircraft and other exports to Russia could suffer unless Congress passes legislation soon recognizing the former Cold ...
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Insurance Journal TV

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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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Concord Specialty Risk Coverage Addresses New IRS Reporting Requirements

Managing General Underwriter Concord Specialty Risk, which specializes in reps and warranties...

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New Discussions in the Forums

Manufactured Home (in park) Insurance in Florida
Posted: Thu Aug 23 -- Unfortunately, This is a result of consumers complaining to the state. They complain about the rates, the state denies rate changes needed... OldIndyAgent
Progressive Weasling?
Posted: Wed Aug 22 -- Thanks for the link Robert! From the NYTIMES..."Progressive sure seems to have done absolutely everything wrong here. It paid out three... OldIndyAgent
Wind Exposure-West Coast Florida
Posted: Wed Aug 22 -- Have you checked with any of the E&S Markets? Chubb, Crump, or Burns-Wilcox? And, what about Orchid? They are writing tons of "with wind"... suba4004
Motor Cycle dealer WC (CA)
Posted: Tue Aug 21 -- I have access to multiple PEO markets that will write that code. Please contact me if that is an option. Chad Filley
Adding Value? Who Cares? And, who gets mad?
Posted: Tue Aug 21 -- I am somewhat bemused by all of the posts on this issue. It is my understanding in CA under the California Fair Claims Act and included in... mccluney
Insurance Pro AMS - Any experience?
Posted: Sat Aug 18 -- helllooo...I am asking for help..I had read all the posts on this topic, but I hadn't seen any superb feedback on Insurance Pro, which... bhratsharma
ARM
Posted: Thu Aug 16 -- If you work for a company go for the CPCU - start with your strongest subject, take them in backwards order and take two at a time - you can... gregsmith5

Reader Comments

Republican VP Pick Ryan Aims to Change Tax Break for Health Insurance Benefits
Posted: Sun Aug 19 -- Libby Said- "Ryan's plan (with the same $700B in cuts) changes medicare to a voucher system that some say will not be able to keep up... Sargent Major
N.J. Law to Restrict First Responders From Sharing Accident Photos
Posted: Fri Aug 17 -- I think it is sick that a first responder would even think to share those types of photos on any personal level; I understand taking the... What's wrong with this picture
Mississippi Woman Alleged to Be Habitual 'Slip and Fall' Claimant
Posted: Tue Aug 21 -- Three years isn't long enough. wvagt
Obama to Encourage States to Build Health Exchanges
Posted: Thu Aug 16 -- Conservatives had a year of their plan to create jobs. Looks like those Bush tax cuts don't really improve things much. Conservativism is... Captain Planet
Macy's Sues J.C. Penney in N.Y. Over Martha Stewart Deal
Posted: Tue Aug 21 -- Shouldn't Macy's be suing Martha, not JCPenney for breach of contract? CB

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