Friday, September 28, 2012

Daily Headlines: Friday, September 28, 2012

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Insurance Journal Daily Headlines
September 28, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Employer Costs for Employees Lowest in South, Highest in Northeast

Total employer costs for employees in private industry ranges from $26.14 per hour in the South to $32.98 in the Northeast. According to ...

Prudential to Pay $615 Million for Hartford's Life Insurance Unit

Prudential Financial Inc. will buy the individual life insurance business of Hartford Financial Services Group Inc. for $615 million in ...

Rental Firms Agree Not to Rent Recalled Cars

Leading U.S. car rental companies have agreed to back Senate legislation to pull vehicles from the road when recalled for safety defects, ...

Best Affirms Donegal Group's Members, Affiliates Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of the members of ...

AAIS Releases New Policy Forms for Insuring Infrastructure

The American Association of Insurance Services (AAIS) has released a series of new policy forms, endorsements, and corresponding schedules ...

From MyNewMarkets.com How Agents and Carriers Can Find Gold in Personal Lines

Independent agents and their companies have over the years been beaten in the personal lines market by direct response carriers and captive...
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East

DEP Sets Aside Funds for Northern New Jersey Flood Buyouts

Plans to provide nearly $500,000 in state funds that would help a northern New Jersey town buy eight flood-prone homes have cleared another ...

NYC to Taxi Riders: Look for Bikes Near Your Door

New York City transportation officials want passengers to watch out for bicyclists when opening taxi doors.They're expanding a safety ...

D.C. Man Stages Burglary for False Claims, Gets Turned In by Roommate

Washington, D.C., authorities said a local man was sentenced to a year of supervised probation, a suspended sentence of three years and a ...

Maryland Law for Moped Riders Goes Into Effect Oct. 1

Maryland moped riders will have to wear helmets and eye protection beginning Monday, Oct. 1. The new law also requires that motor scooters ...

Virginia's Markel Names 2 Executives in Product Line Leadership Group

Richmond, Va.-headquartered Markel Corporation announced two appointments within its product line leadership group. Michael Vought, ...
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Midwest

Grange Insurance Names Lin as New Chief Actuary

Grange Insurance, headquartered in Columbus, Ohio, announced that Ken Lin has been promoted to vice president, chief actuary, effective ...

South Dakota Will Not Run its Own Health Insurance Exchange

South Dakota will not set up its own health insurance exchange, instead deferring to the federal government to operate and pay for a key ...

Aetna to Pay $1.5M in Settlement with Missouri

Missouri insurance regulators said that insurer Aetna agreed to pay a $1.5 million penalty to settle allegations that the company violated ...
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Southeast

Florida Approves State Farm 6.4% Homeowners Rate Increase

Florida regulators have approved an average 6.9 percent rate hike for State Farm Florida Insurance Co., which is the insurer's fifth ...

Few Drivers in Alabama Ticketed Under New Texting Ban

Law officers in some eastern Alabama jurisdictions have yet to issue any citations under the state's new law banning texting and driving. ...

Mississippi Offers Smartphone App for Driver's Test

The Mississippi Department of Public Safety has partnered with Mississippi Interactive LLC to offer a driver's practice test application ...
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South Central

Oklahoma Legislator Criticizes Insurer Premium Tax Credits

The head of a state House committee that's scrutinizing millions of dollars in business tax credits is questioning the growth in credits ...

Louisiana Seeks to Use Hurricane Recovery Money for Pre-K Program

Gov. Bobby Jindal's administration wants to shift $20 million in hurricane recovery dollars for hurricanes Gustav and Ike to fill in budget ...
West

MPG Adds Brokerage Division, Expands Western Facilities

Maritime Program Group has created a new brokerage division and expanded their western facilities with the addition of three professionals ...

100 Yosemite Workers Tested For Hantavirus

California public health officials have tested 100 workers at Yosemite National Park to determine whether they were exposed to the deadly ...

EPA Fines Idaho Gas Companies For Clean Air Violations

A pair of gas delivery companies operating in Idaho will pay thousands of dollars in penalties for violating federal clean air laws. The ...

Yates Adds Whitehouse and Lopes in Southern California

Tustin, Calif.-based managing general agent Yates and Associates has added two new producers and has opened a new office in Westlake ...
International

EU Insurers' Capital Charges May be Cut to Boost Loans

Capital charges for insurers in the European Union could be cut to encourage lending for long-term projects and help boost the flagging ...

ICC Proposes Measures to Stimulate Global Economy

The International Chamber of Commerce has unveiled the initial recommendations of its Business World Trade Agenda initiative, aimed at ...

UK Seeks to Mend 'Broken' Libor Interest Rate Setting, Not Scrap It

Britain's top financial watchdog delivered a 10-point plan to fix Libor, but stopped short of scrapping the benchmark interest rate in a ...

UK Competition Comm. to Investigate Auto Insurance; ABI Welcomes Move

The UK's insurance market for auto insurance has been referred to the Competition Commission for investigation. The Office of Fair Trading ...

Badal Joins Marketform as Chief Risk Officer

Specialist Lloyd's insurer Marketform, a wholly owned division the American Financial Group, announced that Veekash Badal will join the ...

Best Affirms Colonial Group and Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A-' (Excellent) and issuer credit ratings (ICR) of "a-" of the ...
Insurance Journal Blogs

Newsflash: Consumers Prefer Free Auto Insurance (And Other Stuff Too)

Our friends at the Consumer Federation of America have issued yet another shocking new study. This one shows something that's truly ...

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Insurance Journal TV

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Louisiana's Donelon on Isaac, Citizens, Lawsuits and More

Despite taking a direct hit from Hurricane Isaac in late August, Louisiana probably won't see...
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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

National Agents Alliance? Legit or Keep Away?
Posted: Fri Sep 28 -- Sounds like a sales pitch from NAA. I've never heard any agent be positive about their experience with them. MarcMeyers
Reliable Car Insurance Quotes
Posted: Tue Sep 25 -- A lot of local agents provide free quotes and some have the ability to bind policies online. Usually agents will sell you liability policies... txinsurance4
CA State Fund, wtf!!!
Posted: Tue Sep 25 -- And the fun is just beginning. Starting soon ,many agencies (under 100k in per annum premium I believe) are relegated to submitting all... jackwehoca
CPCU - Worth it right now?
Posted: Tue Sep 25 -- Hello. I am currently looking to take the CPCU 530 Business Law Exam and was wondering if anyone knows of an AUDIO book/ study guide which I... armanis500

Reader Comments

Bank Files Foreclosure Suit Against Arkansas Lieutenant Governor
Posted: Mon Sep 24 -- Wait a minute........this guy "didn't know how far behind" he was on his payments and he's the Lt. Governor? Now THAT'S scary...... Scott
Florida's Citizens Defends Proposed 11.2% Rate Increase at Hearing
Posted: Tue Sep 25 -- TO Rep Fasano: Perhaps the customers of Citizens took a rate decrease without asking. The reality is that customers got a mitigation credit... Cheetoh Mulligan
LAPD Chief Seeks Appeal Of $5.7M Jury Award
Posted: Mon Sep 24 -- Only in California??!! Of course they also said that good old O J was innocent??!! What's wrong with this picture?? What's wrong with... renoscs
Coloradoan Wins $7 Million In Popcorn Lung Lawsuit
Posted: Fri Sep 21 -- How many packs of cigarettes per day did this guy inhale in between his addiction to popcorn? rschwartz@amig.com

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September 24, 2012
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Professional Liability Directory; The Best Insurance Agencies to Work For; Inland Marine

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