Thursday, September 13, 2012

Daily Headlines: Thursday, September 13, 2012

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Insurance Journal Daily Headlines
September 13, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Financial Firms Having to Adjust to Aggressive Consumer Protection Bureau

The new federal agency charged with enforcing consumer finance laws is emerging as an ambitious sheriff, taking on companies for deceptive ...

Focus of MF Global Probes Turns to Civil Cases; Insurance Dwindling

Prosecutors investigating the collapse of failed commodities brokerage MF Global are close to wrapping up their criminal probe and are ...

Length of Yellow Caution Traffic Lights Could Prevent Accidents

A couple of years ago, Hesham Rakha misjudged a yellow traffic light and entered an intersection just as the light turned red. A police ...

Common Type of Rail Car Has Dangerous Design Flaw

For two decades, one of the most commonly used type of rail tanker has been allowed to haul hazardous liquids from coast to coast even ...

ACE Adds Chemical Withdrawal Expense Endorsement to Ace PaC Form

ACE USA, the U.S-.based retail operations of the ACE Group, has expanded coverage for buyers of its combined general liability and ...

From MyNewMarkets.com 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...
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East

N.Y.-Based Cook, Hall & Hyde to Merge With Maran Corporate Risk Assoc.

Two brokerages in the Metro New York region -- Cook, Hall & Hyde and Maran Corporate Risk Associates -- announced their intention to enter ...

N.H. Road Fatalities Up in 2012; Authorities Urge Drivers to Slow Down

Traffic fatalities have spiked in New Hampshire, prompting authorities to urge drivers to slow down and avoid dangerous activities such as ...

In Penn. Lawsuit, ACE Accuses OneBeacon of Poaching Employees

ACE American Insurance Company recently filed a lawsuit against OneBeacon U.S. Holdings Inc. In its lawsuit, filed in Pennsylvania, ACE ...

Delaware Eyes Comprehensive School Safety Plans

Gov. Jack Markell is signing legislation aimed at making Delaware's schools safer. A bill to be signed into law on Monday creates a ...
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Midwest

1 N.D. Agent Pleads not Guilty, 1 Sentenced in Separate Cases

A Dickinson, N.D., insurance agent accused of stealing $30,000 from a client has pleaded not guilty to five felony theft counts. Meanwhile, ...

Minnesota Woman Loses Music Downloading Appeal

A U.S. woman accused of sharing songs online owes record companies $222,000 for willful copyright violations, a federal appeals court in ...

Prosecutor: CEO in Iowa Fraud Case Admits to Fraud

The founder of an Iowa brokerage has signed a plea agreement with federal prosecutors in which he admits to carrying out a $200 million ...
Designing Producer Compensation Plans - New training next week from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

Q&A with Florida's Citizens CEO Gilway: Leading in the Public Sector

Two months ago when Barry Gilway took over as president of Florida's state-run property insurer, Citizens Property Insurance Corp., he ...

West Virginia Business Court to Debut Oct. 10

The state Supreme Court will debut a business court division next month, taking often-complicated disputes out of a hectic circuit court ...
South Central

Allstate Raising Homeowner Rates in Louisiana

Allstate Corp. is raising rates for 144,000 Louisiana homeowners who get their insurance coverage from two Allstate companies. The company ...

State Farm Lloyds Files Homeowners Rate Increase in Texas

State Farm Lloyds says it intends to increase homeowners rates in Texas by an average 20 percent. The company announced it has submitted a ...

Today Marks 4 Years Since Ike Hit Galveston

There was a time Galveston tourism officials would avoid using the word Ike. Four years after the most devastating storm since Hurricane ...
West

U. of California Sues Facebook, Wal-Mart, Disney Over Patents

A University of California patent licensee which has sued some of the biggest U.S. companies is taking on three more -- Facebook Inc., ...

Danger in Air Again At Reno National Air Races

The annual air race in Nevada's Valley of Speed has a new name. Fans returning to see vintage World War II fighter planes streak across the ...

Utility Hit With Lawsuit Over Utah Wildfire

Nearly 100 property owners are suing Rocky Mountain Power and blaming the utility for one of Utah's largest wildfires this year. The Wood ...

Albuquerque, N.M. To Pay $439,000 To Settle Lawsuit

The city of Albuquerque, N.M. will pay the widow of a murder victim $439,000 to settle a lawsuit alleging that police could have arrested ...
International

U.S. Lawsuits Target Carnival in Italy Cruise Crash

Hundreds of passengers from the stricken Italian cruise ship Costa Concordia and up to 1,000 businesses on the island where it ran aground ...

PCI Urges Rapid Progress on Trans-Pacific Free Trade Agreement

The Property Casualty Insurers Association of America (PCI) has urged negotiators to make rapid progress on the Trans-Pacific Partnership ...

Willis UK Broker Networks Add 12 New Members

Willis Group Holdings announced that 12 new members have joined its two UK broker networks, Willis N2 and Willis Commercial Network, both ...

Dougherty Joins XL's Global Insurance Operations as CFO

XL Group plc announced the appointment of Chris Dougherty as Chief Financial Officer - Insurance.  He will be responsible for overseeing ...

HDI-Gerling UK Names Gwilt to Head Fleet Management Division

Industrial Insurance Company HDI-Gerling announced the appointment of Michael Gwilt as manager responsible for fleet risk management and ...

Best to Assign Ratings to Merged QBE European Reinsurance Entities

A.M. Best Europe - Rating Services Limited has commented that it expects to assign a financial strength rating (FSR) and an issuer credit ...

Verisk Crime Analytics Launches Cargo Theft Prevention Systems in Canada

Verisk Crime Analytics has launched national information sharing systems designed to help Canadian insurers and their policyholders combat ...

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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

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
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

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
Mississippi Court Rules Wal-Mart Not Liable in Gun Ammo Sale to Underage Shooter
Posted: Mon Sep 10 -- The employee admitted he knew it was going to a minor. What would happen in a similar scenario if an employee sold beer, knowing it was... Captain Planet

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