Thursday, August 30, 2012

Daily Headlines: Thursday, August 30, 2012

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Insurance Journal Daily Headlines
August 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Isaac Heads North After Drenching U.S. Gulf, New Orleans

Tropical storm Isaac is expected to weaken further as it heads north on Thursday, after causing significant damage to the U.S. Gulf Coast ...

Citigroup Settles Securities Lawsuit for $590M

Citigroup Inc. agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic ...

Janssen Pharmaceuticals Settles Deceptive Advertising Practices Suit for $181M

Janssen Pharmaceuticals Inc. and its parent company Johnson & Johnson have agreed to resolve charges of improper marketing and ...

Consumer Perception of Progressive at Lowest Level in 4 Years: YouGov

Progressive Insurance's mid-August social media-driven controversy has brought the company to its lowest U.S. consumer perception levels in ...

All Risks, General Star Enhance Insurance Agents E&O Program

All Risks, Ltd. has enhanced its exclusive insurance agents errors & omissions  program through General Star Management Co.  ...

NAS Launches Enhanced E&O Coverage for Healthcare Consultants

NAS Insurance Services has enhanced their E&O program for healthcare facilities with more coverages for consultants. The E&O ...

From MyNewMarkets.com New National Parks' Insurance Requirements Ignite Controversy

A National Parks Service (NPS) decision to hike their required insurance liability limits by 1,000 percent has some outfitters and guides,...
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East

Maine Regulator Highlights New App That Helps Motorists in Accidents

Maine's top insurance regulator is highlighting a new mobile application that can helps motorists take the guesswork out of auto accidents. ...

The Hartford Promotes Bateman to Senior VP and Controller

The Hartford Financial Services Group has promoted Robert Bateman to senior vice president and controller of the company. Bateman succeeds ...

Irwin Siegel Agency Appoints Assistant VP in New York

Irwin Siegel Agency recently appointed Ken Chappell as assistant vice president of business development. He is based in the firm's ...

Pennsylvania Hospital, Ohio parents Settle Organ Donor Suit

An Ohio couple has settled their lawsuit against a northwestern Pennsylvania hospital they accused of killing their son to harvest his organs for transplant ...
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Midwest

Michigan Cherry Growers Getting New Crop Insurance Options

U.S. Sen. Debbie Stabenow says Michigan's cherry growers are getting new crop insurance options. The Michigan Democrat serves as head of ...

Keystone Mutual Adds Bargatze as VP-Sales, Western Region

Missouri-based medical professional liability insurer, Keystone Mutual Insurance Co., has hired L. Richard Bargatze, Jr. as vice president ...

Nebraska, Iowa Officials Watch For Contaminated Corn

Farmers, crop inspectors and grain elevators in Nebraska, Iowa and other corn-producing states are keeping an eye out for corn contaminated ...
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Southeast

Allstate Sues Florida Neurologic Clinic for $7.6M in False Claims

A Florida neurologic clinic that specializes in treating patients with traumatic brain and spinal cord injuries is being sued by a major ...

Florida Governor Opens Disaster Fund

Florida Gov. Rick Scott has announced that the state is activating Florida's disaster fund to help residents who suffered property losses ...

Isaac Giving Local Researchers a Chance to Test New Tracking Model

Isaac is giving a team at Jackson State University in Mississippi the opportunity to test a tracking model that can predict a storm's path ...

Tennessee Opens New Unit to Investigate Identity Theft Crimes

Tennessee's safety department is creating a new unit to investigate identity theft crimes that local law enforcement agencies don't have ...
South Central

Brownsville Named Safest Driving City in Texas

Brownsville once again tops the list as the safest driving city in Texas, according to the eighth annual "Allstate America's Best Drivers ...

BenefitMall Announces Organizational Changes

Dallas-based provider of integrated payroll and employee benefit products and services, BenefitMall announced that Charles Lathrop will be ...

Arkansas at Risk for Flash Floods, Tornadoes from Isaac

A flash flood watch covers much of Arkansas as what is now Tropical Storm Isaac lumbers toward the state. Forecasters also said Isaac's ...

Citizens Advised to 'Hunker Down’ as Isaac Pounds Louisiana

"Stay hunkered down." That's the message local, state and federal officials are telling the people of New Orleans and the state of ...
West

SullivanCurtisMonroe Adds Lupia in Southern California

SullivanCurtisMonroe Insurance Services LLC named Chad Lupia, a property casualty consultant, to its Pasadena, Calif. office. Lupia was ...

Investigators: Falling Boulder Sparked Utah Fire

Investigators say a Utah wildfire that burned more than 800 acres in Emery County was sparked when one massive boulder hit another. Utah ...

Deutsche Bank Exec Files $50M Claim Against LA

A senior executive at Deutsche Bank has filed a $50 million claim against the city of Los Angeles, alleging he was beaten by two officers ...

Chevron Will Be Held Accountable For Refinery Fire

Agencies investigating the Chevron Corp. refinery fire have told Richmond residents that the petroleum giant will be held accountable. The ...

Poll: Confidence for Calif. Workers' Comp Reform Dropping

Confidence in the state government to reform California's unwieldy workers' compensation system is falling as Legislators struggle to ...
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International

How Iran’s Main Oil Buyers Deal with Insurance Sanctions

Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the ...

Validus to Buy Flagstone Re for $600 Million in Cash and Stock

Reinsurer Validus Holdings Ltd said it will buy Flagstone Reinsurance Holdings for about $600 million in cash and stock to boost its ...

Willis Exec Comments on Russia Joining WTO

A note from Willis Group Holdings features comments from Ann Longmore, Executive Vice President of Willis' Executive Risks practice, who ...

CCRIF Reports Minimal Damage; No Payouts Due from TS Isaac

The Caribbean Catastrophe Risk Insurance Facility has reported that, while some of its members were impacted by tropical storm Isaac, most ...

ANV Syndicate Opens Accident & Health Underwriting Operations

The newly acquired Lloyd's ANV Syndicate announced the opening of its Accident and Health (A&H) business. The business was "previously ...

Ratings Recap: China Taiping (NZ), Maiden Holdings (Shares)

A.M. Best Co. has downgraded has the financial strength rating (FSR) to 'B+' (Good) from 'B++' (Good) and the issuer credit rating to ...
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LexisNexis Insurance Exchange Gets New Leader, New Drive

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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 Discussions in the Forums

Progressive Weasling?
Posted: Thu Aug 30 -- I think the question is did your insured took reasonable care of the car when it was in their custody. If they did, then they're probably... wariline
Monoline DPD- IA, MN, IL, WI??
Posted: Wed Aug 29 -- I have an admitted program, and can write in those states with the exception of MN. I would have to write the WHOLE account. Not just DPD. I... Adame526
Insurance aggregators/Groups for personal lines
Posted: Wed Aug 29 -- Hi Andy, I would like to discuss this in greater detail, but when i called that number, the person said it is the wrong number. Is there... kevin316
Motor Cycle dealer WC (CA)
Posted: Tue Aug 28 -- I have PEO markets at as low as 100K in payroll annually Chad Filley
Splits
Posted: Tue Aug 28 -- I started a P&C agency within an existing company. Started with base salary and moving to commissions this year. I perform all agency tasks... mrnewbie
Life Agent working for P&C Agency
Posted: Mon Aug 27 -- I would like to know if anyone reading this has successfully worked with a P&C agency to sell life insurance and maintained their... austex
Manufactured Home (in park) Insurance in Florida
Posted: Fri Aug 24 -- Thanks, no such program yet....maybe after a CAT loss something like that can be implemented for home insurance. agentagent
Insurance Pro AMS - Any experience?
Posted: Fri Aug 24 -- "helllooo...I am asking for help..I had read all the posts on this topic, but I hadn't seen any superb... ITCBeckySchroeder

Reader Comments

2 Hurt by Text-Messaging Driver in N.J. Settle Lawsuit
Posted: Thu Aug 23 -- The lawyer, Weinstien, has gone to a new low level trying to say someone can be held liable if they are "electroniclly present". What a... John
Employers Committed to Offering Health Plans; Cost Seen Going Up 5.3% in 2013
Posted: Tue Aug 28 -- Our health insurance benefit is being canceled next year and we will be paid the amount of the current contribution minus the fine for not... Sarah
Oklahoma Lawmaker Wants More Money in Workers' Comp Case
Posted: Mon Aug 27 -- Kind of knocked goofy?? I'd say you were already goofy to begin with. A State legislator milking the system. And a Republican at that! Seems... Say What?
Judges Tout Wikipedia in 'Jet Ski' Exclusion Ambiguity
Posted: Mon Aug 27 -- Jet Ski is a registered trademark of Kawasaki, but the lower case term 'jet ski' is a popular term synonymous with 'personal watercraft'... ineedjava

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