Daily Headlines: Friday, September 14, 2012

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September 14, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Hurricane Isaac Insured Losses to Reach $1-$2 Billion: RMS U.S. insured losses from Hurricane Issac's wind and surge impacts on the U.S. Gulf Coast will fall between USD$1-$2 billion, excluding ... 2012 Hurricane Season at Halfway Point Thus far, the 2012 Atlantic hurricane season that is about at its midpoint has seen 14 tropical storms, with seven strengthening to ... More Transparency Urged for U.S. Financial Oversight Units The new U.S. financial risk council should publicly share more details about its closed-door meetings on emerging risks to markets, a ... Corporate Lawyers Rank California, Illinois, West Virgina Low for Legal Climate Lawyers for U.S. companies say California, Illinois and West Virginia have some of the worst legal climates in the country for businesses, ... Best Affirms Ratings of Catlin Group Limited's U.S. Subsidiaries A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings of "a" of Catlin Insurance Company, ... ABC News Sued for Defamation Over 'Pink Slime' Reports ABC News was hit with a $1.2 billion defamation lawsuit on Thursday by a South Dakota meat processor that accused it of misleading viewers ... Holiday Season Already Underway for Insurers of Seasonal Events Ready or not, the holidays are right around the corner. And like retail stores and other holiday specialists, insurers are preparing for... More National News East N.Y. Workers' Comp Assessments Remain Highest in Nation: Report A surcharge added to workers' compensation costs for all New York State employers remain the nation's highest, according to a new report. ... Penn. Commissioner: Washington Slow to Give Guidance on Healthcare Law Testifying before Congress this week, Pennsylvania Insurance Commissioner Michael Consedine offered a blistering critique of the way the ... PIANY Elects New Officers, Board Directors for 2012-13 The Professional Insurance Agents of New York State Inc. elected new officers and board directors for the 2012-2013 administrative year at ... BDO USA Hires Assurance Partner for Insurance Clients in New York Financial services firm BDO USA, LLP appointed John Green as assurance partner in the Metro New York insurance industry practice.In his new ... More East News Midwest Five of Six NAMIC Members Joining 'Century Club' in Midwest Six mutual insurance companies have been inducted into the National Association of Mutual Insurance Companies' (NAMIC) Century Club in ... Accidents Prompt Ohio State Safety Awareness Blitz Ohio State University has enlisted an army of volunteers to raise awareness of traffic safety on campus after a rash of crashes involving ... Michigan Woman Can Sue Over Delay in Learning of Cancer A Michigan woman who wasn't told for five years that she had a cancerous kidney can sue a doctor and a clinic for failing to share the ... More Midwest News Southeast South Carolina Trooper's Wife Charged with Arson, Insurance Fraud The wife of a South Carolina Highway Patrol trooper has been charged with setting her home on fire and lying to officials. Paula L. Rose ... Mississippi Court to Hear Case on Pre-Need Funeral Policy Transfers The Mississippi Supreme Court was to hear arguments this week in a lawsuit filed over the portability of pre-need funeral policies. At ... More Southeast News South Central Isaac Losses Won't Strongly Impact P/C Industry in Louisiana While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk ... Official: Texas Coastal Insurer Is Unsustainable The Texas Windstorm Insurance Association is not sustainable and likely won't be until the state spreads the costs of risks associated with ... Judge Hears Case Over Katrina Floodwall Failure Alvin Livers lost his dream home when busted floodwalls unleashed a torrent of water that inundated his New Orleans neighborhood during ... More South Central News West Insurance Agent is Face of Anti-Muslim Film Inflaming Middle East A California insurance agent and Vietnam War veteran is the public face for the anti-Muslim film inflaming the Middle East, several news ... Skywalk Developer Asks Court To Enforce $28M Award The developer of the Grand Canyon Skywalk is asking a federal judge to enforce a more than $28 million judgment against a northern Arizona ... Consumer Watchdog Slams Calif. Prop. 33 Campaign over Libya Tragedy The battle over an automobile insurance persistency initiative is heating up, with the latest volley over a radio advertisement targeting a ... More West News International Swiss Re's Chief Economist on the State of the Global Economy "The European debt crisis is affecting the global economy, definitely," said Kurt Karl, Swiss Re's chief economist in an interview at the ... First Capacity Exchange Hailed as Success by MGA's, Insurers The inaugural Managing General Agents' Association (MGAA) capacity exchange has been hailed as a success by insurers and MGA's alike as an ... Myanmar to Open Insurance Sector to Foreigners in 2015 Myanmar will allow foreign investors into its insurance sector by around 2015 once local private insurers have had time to establish ... Best Affirms Catlin Group and Subs 'A' Ratings; Outlook Stable A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings ... Ratings Recap: AmerInst, Trust Re, Flagstone Re Africa, Univé Stormher A.M. Best Co. has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of Bermuda-based AmerInst ... More International News Insurance Journal Blogs Better Than A Stick In The Eye, But Not By Much A few days back, Florida's troubled Citizens Property Insurance Corp. announced a plan to "depopulate" its book of business through a ... More Blogs Join the Insurance Journal Network Insurance Journal TV Predictive Modeling 1: Origins in Insurance Few developments have altered the insurance business as much as predictive modeling and more... Watch Now Agriculture Business Prepared for This Year's Drought Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Buying IA - Current Multiplier? Posted: Thu Sep 13 -- Hopefully you have found an insurance agency that is right for you. I prefer the captive route. I have been an insurance agent in the... insurancechandleraz Adding Value? Who Cares? And, who gets mad? Posted: Tue Sep 11 -- Good philosophy. The other ratio is the 20%-80% which is indirectly a corollary, i.e. 20% of your clients generate 80% of your income, so if... jackwehoca Track Your CSR's Daily Sales Activity Posted: Mon Sep 10 -- Earlybird, what management system do you currently use and are you satisified with it? Looking to improve effectiveness and be able to track... jackwehoca Independent Agency Growth Rate Posted: Mon Sep 10 -- If you are a member of the Independent Insurance Agents and Brokers of America, I suggest a review of IIABA "Best Practices" program... jtownagent Truckers Workers Comp Posted: Fri Sep 14 -- The Truck work comp market has been pretty bad as of late, not surprised seeing direct carriers like Chartis raise rates. KeeponTruckin Taxi Cab Insurance Posted: Thu Sep 13 -- Does any body knows any carriers doing taxi (livery) insurance? Please help. DAYZ OF MY LIFE California Court Case -- Renewal Notice Risk Posted: Thu Sep 13 -- Hi all! I am looking for a specific court case referenced in the following quote from a forum user: In a recent court case in California, a... esedlock Go to Forums Reader Comments Texas in November to Open 85 Mph Toll Way Posted: Fri Sep 7 -- The problem isn't the speed limit. It's the moron's driving on our roads that are unprepared for driving in the first place. I have a friend... Seriously? Maryland Man Sued Over Travel Insurance Policy on Missing Companion Posted: Wed Sep 12 -- Anyone out there want to take a trip to the Everglades? Just get me the exact spelling of your name and your DOB. Let me know when you'll be... Al E. Gator Planners Craft Strategies to Help High-Earners Skirt New Healthcare Taxes Posted: Fri Sep 7 -- The time to stop talking about tax reform and doing something about it has come. It may take a taxpayer revolt to get it going and... Agent Private Insurers in Line to Take 150,000 Policies from Florida's Citizens Posted: Fri Sep 7 -- At least these are established carriers that we've had dealings with before. No more "Magnolia" incidents please!!! Mr. Solvent IRS Says It Has No Role in Enforcing Health Insurance Mandate Posted: Thu Sep 13 -- Actually Brokie, your mind is "Brokie". There are 7 new taxes built into Obamacare that will hit the middle class. It was done by your... 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