Wednesday, September 12, 2012

Daily Headlines: Wednesday, September 12, 2012

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Insurance Journal Daily Headlines
September 12, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

IRS Says It Has No Role in Enforcing Health Insurance Mandate

The Internal Revenue Service on Tuesday assured congressional lawmakers that agents would play no role in enforcing the controversial ...

Farm Bill, Crop Insurance Reform May Be Stalled Until November

It may be November before the U.S. Congress completes the new $500 billion U.S. farm bill as lawmakers cannot agree on how much to cut ...

Arthur J. Gallagher CEO: This Rate Environment Unusual but Better

Speaking at a recent conference, brokerage Arthur J. Gallagher's CEO J. Patrick Gallagher described how different today's commercial ...

Conn.-Based SPARTA Ins. Taps Former Everest Re Exec Jones as New COO

Hartford, Conn.-based SPARTA Insurance Company has appointed Ralph E. Jones III as president and chief operating officer. Jones brings to ...

Aspen US Insurance Expands Marine Capabilities

Aspen US Insurance will expand its marine capabilities in the U.S. by offering brown water hull, protection & indemnity, and marine ...

Chartis Expands NextGen Protection to Hospitality, Leisure Industries

The Chartis Insurers have added PLL Hospitality Protect to their NextGen Protection suite of industry specific insurance products. ...

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

Hallmark Specialty Insurance Ordered to Pay Over Penn. Turnpike Spill

A federal judge says a trucking company's insurer must cover some of the claims associated with the spill of a sticky goo over a 40-mile ...

Delaware Commissioner Beats Out 3 Challengers in Democratic Primary

Delaware Insurance Commissioner Karen Weldin Stewart beat out three challengers in yesterday's Democratic primary. Of some 47,912 votes ...

N.J. Workers' Comp Division Proposes 2% Raise in Weekly Benefit Rates

New Jersey's Division of Workers' Compensation has recently proposed an amendment that would increase the 2013 maximum weekly benefit rates ...

Maryland Man Sued Over Travel Insurance Policy on Missing Companion

An American Express subsidiary is suing a Maryland man who was jailed for months in Aruba in the suspected death of his traveling ...
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Midwest

Missouri Lawyer Sentenced for Embezzling Insurance Payouts

A former lawyer in Missouri's St. Louis County is going to prison after embezzling nearly $500,000 in insurance settlements from dozens of ...

Feinberg Calls Indiana Stage Collapse Compensation Fair

The architect of compensation for victims of last year's deadly Indiana State Fair stage collapse says he believes the state was ...

Michigan Man Suspected in Officer's Slaying, Insurance Fraud Found Dead

A recently divorced executive accused of mishandling employees' insurance funds fired on police at his home in a wealthy Detroit, Mich., ...
Southeast

How Florida's Citizens' Surplus Loans to Private Insurers Would Work

Florida's state-backed property insurer is considering for the first time whether to invest in private insurers to the tune of $350 ...

West Virginia Supreme Court to Hear Business Court Ideas

The state Supreme Court is set to discuss a court system for business-related lawsuits. An announcement was scheduled for Tuesday afternoon ...

RLI Extends Coverage for Personal Umbrella Policies in Florida

RLI Corp. is now offering a reduced liability attachment point for its personal umbrella policy for Florida residents. Personal umbrella ...
South Central

Isaac Damage to Louisiana Agriculture Estimated at $100M

An assessment won't be finalized until all harvests are complete, but it appears that an estimated $100 million in losses to Louisiana's ...

7 Companies Cited for Exposing Workers to Asbestos in San Antonio

Federal safety regulators have cited seven construction companies for exposing workers to asbestos hazards at a San Antonio construction ...

Isaac Tars Louisiana Beaches with Oil from BP Spill

Two years after the worst offshore oil spill in U.S. history, mats of oily tar from BP Plc.'s ill-fated Macondo well have turned up on ...
West

Utah Company Prevails In Blender Patent Dispute

A Utah company known for its "Will it Blend" YouTube videos has been awarded millions in a suit claiming a company ripped off its unique ...

Alaska To Get $1 Million For Tsunami Cleanup

Japan is providing money for cleanup of debris from that country's tsunami last year. KTUU-TV reported that Alaska will receive $1 million ...

Henry Named Director of Solar Underwriting for Assurant in Southern California

The Assurant solar named Cindy Henry as the new director of Solar Underwriting and Account Management. Henry will be based in Fountain ...

Aon Names Lavinder in Oregon

Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), named Dan Lavinder as a sales account executive in its ...
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International

Barclays Chairman: Financial Firms Must Change Sales Incentives

Banks must change a culture of paying staff commission on sales and put less focus on short-term profits in order to repair their battered ...

Low Interest Rates: an Ongoing Problem for the Re/insurance Industry

Swiss Re's sigma report analyzing the effect on the insurance industry of the continuing low interest rates doesn't paint a pretty picture. ...

IMF Says Benefits of Global Financial Reform Outweigh Costs

Tough new global financial rules will nudge up credit costs, but the slight drag they will place on major economies is worth it to achieve ...
Designing Producer Compensation Plans - New training next week from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #9

Certificates of Insurance, Part 2.   Last week's blog covered the reason certificates cause so many E&O mistakes due to processing ...

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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

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
Do you use online leads services?
Posted: Fri Sep 7 -- I agree with charlie. Sometimes you have to pay just to get leads failing to think that since it's for sale, it's up for grabs for a dozen... robmejia

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?
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
Travelers' CEO Fishman: Rate Increases Continuing
Posted: Tue Sep 11 -- IN an era of Stagflation he just keeps taking it to the bank. Jay

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September 10, 2012
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