Tuesday, August 21, 2012

Daily Headlines: Tuesday, August 21, 2012

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Insurance Journal Daily Headlines
August 21, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Historical U.S. Hurricanes: What If They Struck Today?

There have been 28 storms in U.S. history since 1900 which if they were happen today would each cause $10 billion or more in insured ...

Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s

U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, ...

Fund Manager’s Bet on Insurer Coventry Could Pay Off Big

Several big name hedge fund managers opened sizable stakes in health care insurance companies during the second quarter, and David ...

Federal Government’s Employment Discrimination Complaints, Payments Fall

Federal employees and applicants filed 16,974 complaints of employment discrimination in fiscal year 2011, down about 3.5 percent from ...

Markel FirstComp Unveils New Name, New Portal, New Business Opportunities

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

From MyNewMarkets.com Hard Market Generates New E&O Challenges for Insurance Agents

The soft market has made the job of insurance agents very difficult the last few years. Competition has been extremely fierce, and premiums...
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East

Penn. Regulators Collected Over $1M in Penalties and Restitution in Q2

The Pennsylvania Insurance Department announced Monday the results from its second-quarter enforcement actions. Regulators said the ...

N.J. Judge: No Workers’ Comp Benefits for Thrift Store Volunteer

A New Jersey workers' compensation judge recently ruled that a thrift store volunteer cannot be considered as an employee for the purpose ...

Report: OSHA Fines Maine Company in Worker’s Death

A news report says an Augusta, Maine, construction company has been cited for violations and fined in the death of an employee after a ...

Macy’s Sues J.C. Penney in N.Y. Over Martha Stewart Deal

Macy's Inc. is suing rival retailer J.C. Penney Co., claiming Penney's bid to sell products by Martha Stewart Living is a breach of an ...
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Midwest

Radar Sign Snaps Photos of Speeding Drivers in Michigan County

Area speeders might want to smile for the camera as they cruise past Grand Traverse County, Michigan's new portable radar speed detecting ...

State Payments for Wolf Damage Increasing in Wisconsin

The amount of money paid to those who have lost animals to wolves in Wisconsin is growing along with the wolf population. The payments are ...

FEMA Considers Sales of Minot ‘Flood Housing’

Some of Minot, N.D.'s temporary flood housing units could end up being donated or sold. North Dakota U.S. Sen. John Hoeven says the Federal ...
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Southeast

20 Years Later: Insurance Changes Triggered by Hurricane Andrew

Hurricane Andrew struck Florida on August 24, 1992, and the tumult it created for the property insurance market in the state has not ceased ...

West Virginia Widows Press Case for Mine Inspectors’ Liability

The widows of two West Virginia coal miners killed in a 2006 fire want the state Supreme Court to rule that private and federal mine safety ...

Mississippi Woman Alleged to Be Habitual ‘Slip and Fall’ Claimant

A Southaven, Mississippi woman has been arrested for fraud and charged as a habitual offender. Authorities accuse her of faking a fall at ...

Digitial Insurance Acquires Knoxville’s First Benefit Partners

Atlanta-based employee benefit agency Digital Insurance has acquired First Benefit Partners in Knoxville, Tenn. Terms were not disclosed. ...
South Central

Louisiana Private Sector Jobs Grow 39,500 Over the Year

Louisiana's private sector employment grew 2.6 percent from July 2011 to July 2012, adding 39,500 jobs. July was the 23rd straight month ...

Texas Windstorm Pool: Fax Problems Due to Provider Connectivity

Agents who place insurance with Texas' property insurer of last resort in coastal areas apparently have been having difficulty faxing ...

Texas Averaged 250 Traffic Deaths per Month in 2011

On average, 250 people killed in traffic crashes every month in 2011, Texas officials say. While the number of people killed each year in ...

Rains Fail to Offset Oklahoma Drought Conditions

Rains that have fallen across Oklahoma during the past week have not provided significant relief from drought conditions that have plagued ...
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West

You Tell Us: Can California's Workers' Comp System Be Fixed?

How do you contain upwardly spiraling costs, battle growing use and prescription of opioids, fight fraud, de-incentivize bad actors, all ...

Ore. Workers’ Compensation Claims Down In Decade

Despite a 30 percent increase in Oregon's workforce, the state's workers' compensation claims are down sharply since the system was ...

Investor Sues Promoter of Failed New Mexico Hospital Project

A man who says he invested more than $1.5 million in a failed northwestern New Mexico hospital project is suing the project's promoter for ...

State Fund Taps Hutchings as Chief Information Officer

California's State Compensation Insurance Fund named Marjorie Hutchings its Chief Information Officer. Hutchings, who was senior vice ...

EPIC Adds Crouch to Folsom Office

Folsom, Calif.-based Edgewood Partners Insurance Center (EPIC) added Kate Crouch as an employee benefits consultant in its Folsom office. ...

BGI Agency Network Signs 50th Member Agency

SIAA Inc. announced master agency partner BGI Agency Network has signed its 50th member agency. BGI signed Matt Armstrong Insurance Agency ...

EMPLOYERS Names Ware SVP, Chief Actuary

Reno, Nev.-based EMPLOYERS named Bryan Ware senior vice president and chief actuary. Ware will be responsible for EMPLOYERS' reserving, ...
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International

NSIDC: Arctic Ice Melting at Faster Rate than 2007 Record Year

The latest report from the National Snow & Ice Data Center reports that "Arctic sea ice extent during the first two weeks of August ...

El Nino Seen Having ‘Modest Impact’ on Australia

An emerging El Nino weather pattern is likely to have only a modest impact on crops and mining in Australia and could benefit sugar cane ...

Flagstone Re Completes the Sale of Lloyd's Operation to ANV

Luxembourg-based Flagstone Reinsurance Holdings, S.A. announced that it has completed the planned sale of its Lloyd's segment to a ...
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Insurance Journal Blogs

Kitzman Gets an Earful in Corpus Christi

Texas Insurance Commissioner Eleanor Kitzman is hearing an earful from the coastal community as she listens to residents' concerns in the ...

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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: Tue Aug 21 -- Does anyone know of a a market other than Citizens MHO3 or LLoyds HO8 for a manufactured home in a park? With the limited coverages on both... agentagent
Motor Cycle dealer WC (CA)
Posted: Mon Aug 20 -- Who writes class code 8400 (CA) motor cycle dealers. So far I have only found Chartis. Anyone? JAM
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
Adding Value? Who Cares? And, who gets mad?
Posted: Fri Aug 17 -- I would suggest to the policyholder that the policy be read and follow the Claims Reporting Procedures that is made part of all policies.... jackwehoca
Progressive Weasling?
Posted: Fri Aug 17 -- If you will read the Progressive response, you will see that the case went to trial because there were conflicting witness stories. Death... rjw
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
Obama to Encourage States to Build Health Exchanges
Posted: Wed Aug 15 -- Go ahead and insult away. I do not have hate in my heart. I just think Bush was/is a fool, a terrible president, an idiot, and severely... Libby
Future Impact of Self-Driving Cars Would Be Big: Study
Posted: Wed Aug 15 -- This is ridiculous. The only way for an integrated self-driving car "system" to work is for EVERYONE to have one so the cars can be... Bones
Texting South Dakota Driver Pleads Not Guilty to Manslaughter
Posted: Wed Aug 15 -- O'Neal you SOB. Why don't for once you accept the error of your deeds and accept your fate, instead of dragging the families through... reality bites

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