Monday, September 10, 2012

Daily Headlines: Monday, September 10, 2012

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Insurance Journal Daily Headlines
September 10, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Treasury Launches $18 Billion AIG Stock Offering

The U.S. Treasury Department said it will sell most of its stake in insurer American International Group Inc., making the government a ...

Commercial Lines Pricing Jumps 6% in Q2: Towers Watson

Commercial insurance prices experienced the largest rise in eight years, a new industry survey reveals. In aggregate, commercial lines ...

Court: Severance Pay Not Subject to Employment Tax

In a tax decision that could have wide business implications, a U.S. appeals court ruled on Friday that employment taxes should not have ...

Court Rules Employers Must Reassign Disabled Workers to Vacant Jobs

A federal appeals court has revived an Equal Employment Opportunity Commission lawsuit against United Airlines Inc., and said U.S. law ...

iStar Financial Settles Shareholder Lawsuit for $29 Million

The New York finance company iStar Financial Inc. has reached a $29 million settlement of a lawsuit accusing it of concealing the impact of ...

Transocean, U.S. Talking $1.5 Billion Gulf Oil Spill Settlement

Transocean Ltd. is in discussions with the U.S. Justice Department to pay $1.5 billion to resolve civil and criminal claims from the 2010 ...

Markel, Experian Data Breach Resolution to Offer DataBreach Loss Control Resources

Markel has announced that it will now work with Experian Data Breach Resolution to provide loss control resources to its DataBreach policy ...

OneBeacon Announces New Surety Group

OneBeacon Insurance Group, Ltd. has launched its newest specialty business--OneBeacon Surety Group. The new business will be managed by ...

From MyNewMarkets.com Private Insurers in Line to Take 150,000 Policies from Florida's Citizens

Four Florida-based property insurers have been given the green light to remove up to 150,000 policies from the state-backed Citizens...
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East

New York Has More Than 400 FEMA Home Buyout Applications

Gertrude Baker and her husband bought their cozy home in Owego in 1956. They raised three kids, befriended neighbors and weathered the ...

GEICO to Sell Commercial Auto Coverage Direct to Customers in N.Y.

Business owners in New York can now purchase commercial auto coverage directly from GEICO, which could lead to lower premium rates for many ...

New York City Cleans Up From 2 Twisters After Eastern Storms

Two tornadoes struck the outer edges of New York City this past Saturday, hurling debris into the air and knocking out power in an area ...

Union Mutual of Vermont Cos. Promotes Squairs to VP of Claims

Union Mutual of Vermont Companies has promoted Debra Squairs to vice president of claims.Squairs joined Union Mutual of Vermont Companies ...
Midwest

BP pays $1.5M in Claims to Date in Gas Recall

BP has paid more than $1.5 million in claims arising from a recall in multiple Midwest states of incorrectly formulated gasoline that ...

Grinnell Mutual Promotes Menary, Eaves

Jeff Menary has been named vice president of Reinsurance at Grinnell Mutual Reinsurance Co., located in Grinnell, Iowa, and Kurt Eaves has ...

Wisconsin's Sentry Insurance Cuts Office Jobs, Home-Based Agents

Sentry Insurance, based in Stevens Point, Wis., says it's cutting 27 office jobs in central Wisconsin and 144 home-based agents across 10 ...
Southeast

Florida's Citizens' Plan for Loans to Private Insurers Criticized

Hurricane-prone Florida's insurer of last resort, state-run Citizens Property Insurance Corp. on Friday approved a plan to provide up of ...

Mississippi Court Rules Wal-Mart Not Liable in Gun Ammo Sale to Underage Shooter

If a store sells ammunition to an underage person who uses the bullets to kill someone, is the retailer responsible? Not necessarily, ...

Marsh McLennan Agency Acquires South Carolina's Rosenfeld Einstein

Marsh & McLennan Agency LLC (MMA) has acquired Rosenfeld Einstein, a $9 million property/casualty and employee benefits agency based in ...

CBIZ Acquires Trinity Risk Advisors of Atlanta

CBIZ Inc. has acquired the assets of Trinity Risk Advisors Inc. of Atlanta, Georgia, a specialty brokerage firm providing primarily medical ...
South Central

Hurricane Ike Claims Still Being Filed Four Years Later

Nearly four years after Hurricane Ike made landfall near Galveston Island, coastal residents are still filing claims and hundreds of ...

Severe Storms Damage Arkansas Airport, Cars, Houses

Strong winds from severe thunderstorms destroyed airplane hangars and damaged airplanes, homes and vehicles as they moved across Arkansas ...

Texas DA Investigating State Farm Hurricane Claims

Texas investigators have opened a criminal probe into how State Farm handled what may turn out to be thousands of insurance claims from ...

Texas Mutual Pays $355K Dividend to Apartment Group

Texas Mutual Insurance Company announced that the Texas Apartment Association (TAA) safety group earned a $355,922 dividend. The workers' ...
West

Report: Wildfires Pose Risk to Quarter-Million Western U.S. Homes

More than three-quarters of a million homes in the Western U.S. have a high of wildfire damage, according to a report released by Santa ...

InsureZone Acquires MSI Group, Adds Agencies to New Direct Program

Fort Worth, Texas-based InsureZone announced it has acquired Denver-based MSI Group, with agencies in 20 states. The purchase adds 63 ...

Fire Restrictions Lifted on Most Utah Land Statewide

Many of the season's fire restrictions across Utah have been lifted as officials say cooler temperatures and higher moisture levels are ...

Brown Signs Electronic Proof Of Insurance Bill

Gov. Jerry Brown made California the seventh state in the nation to allow drivers to show proof of insurance coverage using their smart ...

Esurance Pay-Drive Filing Approved

California Insurance Commissioner Dave Jones approved a personal auto filing by Esurance that will allow its policyholders to voluntarily ...

Navy Cited By OSHA For Mishandling Toxic Materials

The U.S. Department of Labor's Occupational Safety and Health Administration says the Navy has violated worker safety standards at an ...
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International

Reinsurance Rendezvous Focuses on Euro Zone, Interest Rates, Capital

For once there's no natural catastrophe hanging over the annual Reinsurance Rendezvous in Monte Carlo (the 56th edition). Tropical storm ...

Asia's Insurers Hiring While Bankers Face the Axe

Slowing economic growth across much of Asia has failed to crimp expansion plans by the region's insurance companies, even as the rest of ...

Tropical Storm Leslie Brushes Bermuda, Heads Northeast to Newfoundland

The core of Tropical Storm Leslie passed 120 miles (200 km) east of Bermuda, bringing sustained winds of 39 mph (and gusts of up to 54 mph) ...

Survivors of Earthquakes in Southwest China Await Relief

Survivors of a series of earthquakes that killed 81 people and injured more than 800 in a mountainous area of southwestern China were ...
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Insurance Journal Blogs

Fla. Citizens Posts Depopulation Plan

The depopulation committee of Florida's Citizens Property Insurance Corp. unveiled a plan yesterday designed to transfer about a third of ...

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Insurance Journal TV

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Predictive Modeling 1: Origins in Insurance

Few developments have altered the insurance business as much as predictive modeling and more...
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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

Truckers Workers Comp
Posted: Mon Sep 10 -- I have a PEO market with a base rate of 20.37. Could receive further discount because of good loss history. Give me a call if PEO is a... Chad Filley
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
Adding Value? Who Cares? And, who gets mad?
Posted: Fri Sep 7 -- Final chapter...a BOR arrived for the three (Auto, HO, Umbrella) accounts at renewal...no surprises...my position, let the new agency deal... d's insurance store
Track Your CSR's Daily Sales Activity
Posted: Fri Sep 7 -- If the agency has any kind of management system for recording sales and commissions, it will tell you which employees are producing. In our... earlybird
Life Insurance for people with no SSN
Posted: Fri Sep 7 -- One can buy life insurance policy even without SSN but to pay it out, it is needed particularly in processing claims robmejia

Reader Comments

Employers Committed to Offering Health Plans; Cost Seen Going Up 5.3% in 2013
Posted: Wed Sep 5 -- Unemployment at 8.3% on Obama's inauguration date 7.7 Foodstamps given up 87% from inauguration date. National Debt 10.5 Trillion on Obama's... Sarah
Police Lieutenant Claims Reverse Discrimination
Posted: Wed Sep 5 -- There the system goes, trying to keep whitey down again. How dare he get passed up for a woman or a minority. The nerve. This is the South! Captain Planet
Lawsuit Claims Discrimination By In-N-Out Chain
Posted: Fri Sep 7 -- From personal experience, when my nephew and three of his friends applied at In-N-Out, my nephew went to the interview dressed up, new... hmmmmmmm
California State Fund Restructures Broker Distribution
Posted: Tue Sep 4 -- How to screw the small business/agency plant. CSP

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September 10, 2012
Current Issue
High Income / High Profile; Top Workers' Comp Writers; Residential Contractors

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