Monday, October 15, 2012

Daily Headlines: Monday, October 15, 2012

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Insurance Journal Daily Headlines
October 15, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Banks Say Settlements Aren't Slowing Financial Crisis Liability Suits

As U.S. authorities seek to make Wall Street pay for its role in triggering the financial crisis more than four years ago, banks are ...

Uncertainty Marks Federal Regulation of Compounding Pharmacies

The deadly meningitis outbreak linked to contaminated pain injections has prompted calls for tighter federal regulation of compounding ...

Civil Liberties Group Suing Morgan Stanley Over Mortgages

The American Civil Liberties Union is filing what it says is the first lawsuit against an investment bank, Morgan Stanley, alleging ...

Nichols Named President of Surplus Lines Group, NAPSLO

Matthew Nichols has been elected president of the National Association of Professional Surplus Lines Offices Ltd. (NAPSLO) for the 2013 ...

ACE USA's Excess Casualty Unit Expands Catastrophe Management Coverage

ACE USA, the U.S.-based retail operations of the ACE Group, has expanded its catastrophe management insurance products with the ...

General Star Adds Risk Management Hotline to A&E Program

General Star Management Co. has launched a "design professionals liability hotline" as an enhancement to its architects & engineers ...

From MyNewMarkets.com 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...
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East

NOAA Opens Center for Weather and Climate Prediction at U. of Maryland

The National Oceanic and Atmospheric Administration is opening its new Center for Weather and Climate Prediction, located at the University ...

Consumers Learn High Cost of Being Poor in New Jersey

More than a decade ago, Joanne Jubert made six figures as an art director for a New York advertising agency. She pursued her passion of ...

Insurance Agents & Brokers Names Officers for New Administrative Year

The fall marks a new administrative year for Insurance Agents & Brokers Service Group and its partnership of agents' associations in ...

Boston-Based Med-Mal Insurer Coverys Appoints Chief Operating Officer

Coverys, a Boston-based medical professional liability insurer, announced that Jack Donehue, former chief financial officer for Coverys ...
The Future of Insurance Agency Marketing: Wednesday webinar from Academy of Insurance
Midwest

Study: White Construction Workers in Illinois Get Higher Workers' Comp Settlements

White non-Hispanic construction workers are awarded higher workers' compensation settlements in Illinois than Hispanic or black ...

Indiana Doctor Nabbed in Italy Gets 7 Years in Prison

A former Indiana surgeon arrested on a snowy Italian mountainside after five years on the run was handed a stiff prison term Friday for ...

International Insurance Regulators Convene in Kansas City

The National Association of Insurance Commissioners (NAIC) welcomed 14 regulators from around the world for the Fall 2012 International ...

South Dakota Officials Urge Residents to Reassess Flood Damage

State emergency officials say that South Dakotans who registered with FEMA in 2011 for damage caused by Missouri River flooding may be ...
What is an owner controlled insurance program? Webinar this Thursday from Academy of Insurance
Southeast

Federal Court Seeks Rebriefing on Mississippi Damages Cap

A federal appeals court has asked parties involved in a personal injury lawsuit that challenged the constitutionality of Mississippi's $1 ...

Email Inbox Not Private, Says South Carolina Court

The South Carolina Supreme Court has ruled a man's privacy was not violated when his wife's daughter-in-law managed to get into his email ...

3 Reasons Florida's Citizens Loan Plan Is Bad Idea

It's been years since a major hurricane has hit Florida, and the good news for Floridians is that property insurers are filing applications ...
South Central

Louisiana Citizens: More Than 17K Claims from Hurricane Isaac, 85% Settled

Louisiana Citizens Property Insurance Corp. reported it has received 17,059 claims from Hurricane Isaac. Ninety-seven percent of those ...

Panel Upholds Reduced Workers' Comp Award for Oklahoma Legislator

An appeals panel has upheld a controversial ruling that Oklahoma state Rep. Mike Christian is due workers' compensation benefits for ...

Orleans Parish Schools Get More Insurance Money for Katrina Damage

Lawyers for the Orleans Parish School Board in Louisiana have garnered another $17 million in insurance proceeds to help cover damage done ...

Texas Supreme Court Takes Up Contractual Liability Issue, Again

One of the most fascinating aspects of writing about insurance litigation is that often issues that we discuss seem to be "finally" ...
West

Vice Mayor of California Town, an Insurance Broker, Convicted of Embezzlement

The vice mayor of a small Contra Costa County, California, city faces an uncertain future after he was found guilty of felony embezzlement ...

State Fund Chief Holds High Expectations for Calif. Workers' Comp

If all goes well, workers' compensation reform in California may yield even greater savings than originally believed. That is according to ...

Wrongful Death Claim In U.S. Border Patrol Shooting In Southern California

The family of a 32-year-old mother of five shot and killed by a U.S. Border Patrol agent as he rode on her car's hood in suburban San Diego ...

Colorado Giving $1.3 Million For Wildfire Recovery

Colorado Gov. John Hickenlooper is providing $1.3 million for recovery in the Lower North Fork Fire burn area. Hickenlooper says the ...
International

Murdoch May Sue Lance Armstrong to Recover Past Libel Settlement

London's Sunday Times said it may take legal action against cyclist Lance Armstrong, including pursuing him for alleged fraud over a libel ...

Tropical Storm Rafael Batters Caribbean; Heads To Bermuda: AIR

As of Sunday afternoon, Tropical Storm Rafael was moving away from the Leeward Islands after battering the islands with strong winds and ...

RBS Deal with Spain's Santander Collapses; New Bidders Emerge

Shares of Royal Bank of Scotland are set to open lower on Monday following the shock decision by Spain's Santander to pull out of a deal to ...
Sponsored Content

ITC Is Largest Provider of Insurance Websites in United States

Carrollton, TX, 10/15/12 - Insurance Technologies Corporation (ITC), a leading provider of marketing, rating and management software and ...

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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

Workcomp in Ca code 5645
Posted: Mon Oct 15 -- Getting canceled in midterm for audit dispute regarding ocip work. State Fund is the company canceling. B licensed remodeling contractor... trotter
E&O Coverage
Posted: Mon Oct 15 -- Can I ask the need to go direct? Are you looking to get commission on yoru own E&O? Not wise. You are then acting as both the insured and... INTLXS
New Contractor Markets - Midwest
Posted: Fri Oct 12 -- Anyone know of any competitive contractor markets/programs that not every agency has? We are reviewing our companies and I would like to... Halpert
Dave Ramsey
Posted: Thu Oct 11 -- Dave Ramsey is great. I listen to him all the time. Very sound financial advice. The only thing that bugs me about him, and yes I do sell... m2insurance
Primary Flood MO
Posted: Wed Oct 10 -- Hi Bill! We have a market for flood insurnace in non-participating communities, and would be happy to help you get it quoted/issued. We have... bkor3
National Agents Alliance? Legit or Keep Away?
Posted: Wed Oct 10 -- This company is a bunch of scumbags and here is some good proof. Michael Bettencourt is one of NAA's best producers. Rising Star ... all... dont do it

Reader Comments

'Pawn Stars' Sued By Former Manager In Las Vegas
Posted: Fri Oct 12 -- I can hear the trial now: Plantiff wants 10mil, Rick offers him 10k, Plantiff says he won't take less than 5mil, Rick says his best offer is... JMC
Florida Gov. Becomes Target Even Though He's Not on Ballot
Posted: Wed Oct 10 -- I keep hearing how terrible this guy is and I live in Florida so I hear it all the time from the media heads around here. Yet I have not... LiveFree
Southern California Educator Arrested For Workers' Comp Fraud
Posted: Tue Oct 9 -- Prosecute to the fullest extent of the law .. we need to start making examples of these cheaters - show others that they won't be able to... dj
U.S. Insurers Say Fraud Costs on the Rise: Survey
Posted: Wed Oct 10 -- Duh! PC insurers reporting increases in personal lines fraud? When they bind policies from call centers located a thousand miles from the... boonedoggle
Wine Investor Koch Loses Claim Against New York Auction House
Posted: Mon Oct 8 -- Whine, Whine, Whine! Frankie

Current Issue

October 8, 2012
Current Issue
Surplus Lines: State of the Market / NAPSLO Issue; Lloyd's Syndicate Spotlight; Agency Financial Products Directory: Banks, Funding & Capital for Acquisition

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