Wednesday, September 19, 2012

Daily Headlines: Wednesday, September 19, 2012

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Insurance Journal Daily Headlines
September 19, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Is Long-Term Care Insurance Dying?

Poor results in the long-term care insurance sector have led many providers to exit the market, leaving its future uncertain, Moody's ...

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 ...

Flood Insurer Fidelity National Indemnity to Change Name to Wright Flood

Flood insurance company Fidelity National Indemnity Insurance Co. is being renamed Wright National Flood Insurance Co. The name change must ...

Heightened Regulation Forcing Insurers to Focus on Modeling Risks: Conning

The growing level of activity among regulatory bodies and quasi-regulatory agencies focused on strengthening insurance solvency protection ...

AmWINS Forms Managing General Underwriter with Former Rockhill Execs

North Carolina-based insurance wholesaler AmWINS Group Inc. said it has partnered with two insurance industry executives, Terry Younghanz ...

Willis Launches Pizza Delivery Program

Willis Programs, a unit of Willis Group Holdings, has introduced a customized insurance program for pizza delivery restaurants. PizzaGuard ...

IPISC Launches Abatement Insurance Program for Intellectual Property Risks

Louisville, Ky. headquartered Intellectual Property Insurance Services Corporation (IPISC), which focuses on intellectual property (IP) ...

From MyNewMarkets.com Court Orders Rehabilitation for Home Value Insurance Co.

Home Value Insurance Co. was ordered into rehabilitation by an Ohio court on Aug. 31, 2012, and has been prohibited from selling insurance...
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East

IIABNY Launches Hydrofracking Task Force

Independent Insurance Agents & Brokers of N.Y. Inc. recently launched a hydrofracking task force to examine related coverage issues and to ...

Hanover Insurance Group Advises Dog Owners to Take Protective Measures

With dog bite claims accounting for over one-third of all homeowners insurance liability claim dollars in 2011, The Hanover Insurance Group ...

Aon Construction Services Exec Moves to Sterling & Sterling in N.Y.

Woodbury, N.Y.-based brokerage Sterling & Sterling Inc. appointed Doreen DiCicco as senior vice president within its newly created Sterling ...

Virginia Woman Sentenced for Health Care Fraud

A Richmond woman has been sentenced to 11 years and three months in prison for health care fraud and other offenses. A federal judge last ...
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Midwest

US Fidelis Co-Owner Gets 40 Months in Prison

A former co-owner of auto service contract seller US Fidelis has been sentenced to more than three years in federal prison. Cory Atkinson ...

Missouri Licenses 25th Captive Insurer

The Missouri Department of Insurance announced it has licensed its 25th captive insurance company. The state began allowing captive ...

US Bank: Lawsuit in Iowa Fraud Scandal 'Without Merit'

US Bank is rejecting allegations in a lawsuit that claims one of its employees helped Peregrine Financial Group CEO Russ Wasendorf Sr. ...
Designing Producer Compensation Plans - New training next week from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

West Virginia Business Court to Headquarter in Martinsburg

The West Virginia Supreme Court says the newly created business court division will be headquartered in Martinsburg. Officials said the ...

North Carolina Farm Bureau's Credit Rating Lowered

A leading North Carolina property insurer has seen its credit rating downgraded due to a significant decrease in its underwriting revenue ...

Tennessee Insurance Agent Pleads Guilty to Stealing Premiums

A Dyersburg, Tenn., former insurance agent is scheduled for sentencing next month after she entered guilty pleas to felony theft charges. ...
South Central

Health Groups Sue Over Louisiana's Post-Isaac Insurance Rule

Two health care groups have filed a lawsuit against Insurance Commissioner Jim Donelon, over an insurance coverage change he made after ...

Isaac Costs Entergy at Least $400M

Entergy Corp. says its estimated damages from Hurricane Isaac range from $400 million to $500 million, and the storm is expected to reduce ...

Louisiana Senator Vitter Named a NAMIC Federal Legislator of the Year

The National Association of Mutual Insurance Companies (NAMIC) has named Sen. David Vitter, R-La., one of its Federal Legislators of the ...
West

Study: More Than 2 Million California Homes Exposed To High Wildfire Danger

More than 2 million homes in California face "extreme wildfire hazards," over 400,000 of which are in Los Angeles County, according to a ...

IUMI Conference: Unpredictable Time for Marine Insurance

Standing in front of a crowd of several hundred members of the insurance industry, San Diego Mayor Jerry Sanders must have hit the nail ...

Brown Signs Calif. Workers' Comp Bill

California Gov. Jerry Brown on Tuesday signed a bill to increase disability benefits for injured workers while taking a bite out of the ...

Heffernan in Oregon Names Nielsen SVP, Branch Manager

Walnut Creek, Calif.-based Heffernan Insurance Brokers named Timothy Nielsen to its Portland, Ore. office as senior vice president and ...
International

Explosion, Fire at Mexico Pemex Gas Facility Kills 26

An explosion and fire killed at least 26 people at a Pemex natural gas facility in northern Mexico near the U.S. border on Tuesday, one of ...

Cooper Gay Swett & Crawford - Looking Forward, Not Back

Don't tell Toby Esser, Cooper Gay Swett & Crawford's CEO, that the global economy is in the doldrums. "We've had substantial organic growth ...

Willis Intelligence Specialist Warns of Continued Somali Pirate Threat

Tim Holt, Head of Intelligence at Special Contingency Risks (SCR), part of the Willis Group, has warned that the piracy threat in Somalia ...

ACE Acquires 80% of Indonesia Insurer Asuransi Jaya Proteksi

ACE Limited announced that it has acquired 80 percent of Indonesian insurer PT Asuransi Jaya Proteksi. The Jakarta-based company is "one of ...

Towers Watson Inks Joint Venture with Broker MDS for Portugal Benefits

Global professional services company Towers Watson and Portuguese broker MDS have combined forces to establish a benefits brokerage ...

Aon Outlines Risk Management Approach for Emerging Economies

A bulletin from Aon Global Risk Consulting, the risk management arm of Aon plc, using responses from 100 senior risk industry ...

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Swiss Re's Chief Economist on the State of the Global Economy

The re/insurance industry is subject to the vagaries of the global economy, about which it can...
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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

Certificate of Insurance Tracking - Access or Excel Database
Posted: Wed Sep 19 -- Based on your question, one of your biggest concerns is that you don't want a solution that is going to cost you anything. Business... bcsaudit
Computer Fraud / Crime Coverage
Posted: Wed Sep 19 -- CNA Will offer it stand alone with everything you will need jamesjordanmair
Taxi Cab Insurance
Posted: Mon Sep 17 -- If you do not have direct access and know the market its a waste of time to try and write though a GA. Often they dont have the competitive... JAM
Reliable Car Insurance Quotes
Posted: Mon Sep 17 -- An expierenced agent will be the best route for you. Insurance can get complicated when you're not certain of what you need to make sure you... gainsurancegirl
Homeowners Insurance with open claim
Posted: Mon Sep 17 -- And that's why the Insurance Gods made the non admitted market...usually good coverage at a higher rate...Lexington is a major player in... d's insurance store
Selling a complementary product alongside insurance policies
Posted: Sat Sep 15 -- Thank you, Rob. I sponsored a regional insurance trade show earlier this month and got some interesting feedback. My takeaway from that was... wiseleo

Reader Comments

Top 5 Reasons Employees Leave and Stay
Posted: Mon Sep 17 -- As the economy continues to improves, employers will see more and more employees leaving for lack of increased compensation. At that time,... MadDog
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
Lawsuit Claims Bird Attack On Maui Golf Course
Posted: Mon Sep 17 -- If you ask me, long before this attack on Mr. Sakamura, the golf course should have brightened up Tiny Tim's Christmas by giving him the... Rusty
Second Man Pleads Guilty in Grisly South Carolina Insurance Fraud
Posted: Mon Sep 17 -- Yep, they should have their hand's sawed off the same way. EyeForAnEye
Hurricane Isaac Washed Away Alabama's Sand Island
Posted: Tue Sep 18 -- Anyone else feel that rebuilding this island is a waste of resources? Grrrr....

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