Thursday, October 18, 2012

Daily Headlines: Thursday, October 18, 2012

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Insurance Journal Daily Headlines
October 18, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Weak El Nino Could Affect U.S. Weather in Coming Months

Ocean temperatures may enter a weak El Nino pattern this winter, which could affect U.S. weather in coming months, government forecasters ...

Nissan Unveils Electronic Steering, Automatic Parking Car Safety Features

Electronically managed steering that completely bypasses the mechanical link of a clutch is among the new safety technology from Japanese ...

Travelers Profit Soars to $864M in Q3 as Catastrophe Losses Fall

The Travelers Companies Inc. reported today $864 million net profit for the third quarter -- up 159 percent from the same period a year ago ...

Ally Financial to Sell Mexican Insurance Business to ACE

Auto lender Ally Financial, which is 74 percent-owned by the U.S. government, will sell its Mexican insurance business to insurance and ...

Non-Financial Risks Are Real for Technology Firms: Survey

Financial performance of technology companies is tied to certain "red zone" risks, critical non-financial risks where a company must take ...

CISR Insurance Designation Program Expands Options

The Certified Insurance Service Representatives (CISR) Program announced the expansion of course offerings for the designation. ...

Express Scripts Tackles Physician-Dispensed Drug Costs Under Workers' Compensation

Express Scripts, a nationwide prescription manager of more than a billion prescriptions each year, has created a new program to help ...

Philadelphia Insurance Names Bayer as Senior VP of E&S, Promotes Angelo in Southeast

Specialty property casualty insurer Philadelphia Insurance Companies has named Scott Bayer as senior vice president of Excess and Surplus ...

Hartford Steam Boiler Launches Energy Saving Tool for Homeowners Policies

The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has introduced a new concept in homeowners insurance, ...

Last Chance: Be a Part of This Year's Agency E&O Survey

Once again, Insurance Journal is polling its readers asking for their thoughts on today's agency errors and omissions market. Don't miss ...

From MyNewMarkets.com F.I.D.O. Brings Dog Bite Liability Coverage to Florida; More States Coming

When commercial lines agent and dog owner Debbie Turner began to look into help for her difficult dog back in 2000, she had no idea that her...
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East

N.J.'s Financial Literacy Program Gets Underway for New School Year

New Jersey Department of Banking and Insurance Acting Commissioner Ken Kobylowski visited a local high school Wednesday, kicking ...

Earthquake in Maine Rattles New England States

The earthquake that rattled southern Maine was felt in New England states as far away as Connecticut, but caused no apparent damage or ...

N.Y. Brokerage Frank Crystal & Co. Rebranded as Crystal & Co.

New York-based brokerage Frank Crystal & Company is rebranding the firm as Crystal & Company. The family-owned and operated firm was ...

Vermont Irene Recovery Fund Pays Out $2M to Victims

A private fund-raising group set up to help Vermonters recover from Tropical Storm Irene has paid out more than $2 million ...
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Midwest

Illinois Infant Formula Maker Sued After Baby's Death

The families of a three babies sickened by a rare bacterial infection, including a 10-day-old Missouri infant who died, filed a lawsuit ...

Fire Damage at Wisconsin's Largest Dairy Farm Costly

A fire has damaged Wisconsin's largest dairy farm. WLUK-TV reports the fire tore through one of the barns at Rosendale Dairy near the Fond ...

Electric Insurance Acquires Renewal Rights for Millers First Personal Lines

Beverly, Mass.-based Electric Insurance Co. has entered into an agreement for renewal rights to preferred personal lines business of ...
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Southeast

As Florida Weighs 6.1% Workers' Comp Hike, Legislators Urged to Act

A proposed statewide average 6.1 percent increase in Florida's workers' compensation rates could spur the first major legislative changes ...

Tennessee Senate Hopeful Sues Government Over Nashville Flood Damage

A state Senate candidate is suing the Army Corps of Engineers and the National Weather Service over damage to his home during the 2010 ...
South Central

Oklahoma Tribes Exploring Opportunities in Insurance Industry

Oklahoma Insurance Commissioner John Doak told state lawmakers and tribal leaders that he welcomed a partnership with Oklahoma tribes to ...

Texas Landowners Take a Rare Stand Against Big Oil

Oil has long lived in harmony with farmland and cattle across the Texas landscape, a symbiosis nurtured by generations and built on an ...

Deadlines Near for Isaac Flood Claims

Most property owners whose homes or other structures were damaged during Hurricane Isaac have approaching deadlines for filing claims for ...
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West

Another Lawsuit Filed Over Colorado Theater Shooting

A law firm that helped reach an $816 million settlement for first-responders to the Sept. 11 terrorist attacks has filed a lawsuit on ...

Leavitt Group Promotes Niebuhr and Bergan to SVPs in Northern California

The Leavitt Group promoted Mark Niebuhr to senior vice president over the Captive and Alternative Risk Consulting Group and Bill Bergan ...

California Regulators Probe CVS Drug Refills Policy

California regulators are investigating reports that CVS Caremark Corp. refilled prescriptions without patient consent, or insurance ...

SullivanCurtisMonroe Adds Warren in Southern California

SullivanCurtisMonroe named Christopher Warren as a property casualty consultant in its Irvine, Calif. office. Warren joins SCM from ...

Conservation Groups Sue California Agency Over Fracking

Conservation groups are suing California's oil and gas drilling regulators over hydraulic fracturing, charging officials with failing to ...

Lawsuit Over Fatal Washington Goat Attack Dismissed

A judge has dismissed a widow's lawsuit against the federal government over her husband's death in a mountain goat attack at Olympic ...
International

Hong Kong's Li Nears $2 Billion Acquisition of ING Units: Reuters

Hong Kong businessman Richard Li, younger son of Asia's richest man Li Ka-shing, is nearing a deal to buy ING's Hong Kong and Thailand ...

Mapfre Says Turkey Key to Its Expansion; Acquires Motor Repair Firm

Turkey holds strategic significance for insurer Mapfre in its plans to expand into East Europe and the Middle East, the chairman of the ...

OneBeacon Selling Runoff Business to Bermuda's Armour Group

Continuing its repositioning as a specialty insurer, OneBeacon Insurance Group Ltd. is selling its runoff business to an affiliate of ...

CNinsure Opens First Sales Support Group

Chinese insurance intermediary CNinsure Inc. is setting up CNinsure Sales Service Group Company Limited, which it said is the first ...

BrokersLink Adds 13 Members, Expands Internationally

Independent insurance broker network  BrokersLink has added 13, bringing its total  to 70 in almost 100 countries, managing premium ...
What is an owner controlled insurance program? Webinar this Thursday from Academy of Insurance


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Insurance Journal TV

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Insurance M&A Climate Today: Mystic's View

There have been some noteworthy mergers, especially among wholesalers. And there are signs...
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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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New Discussions in the Forums

Pizza W/ delivery WC in CA
Posted: Thu Oct 18 -- State Fund is most likely your best bet...however Granite States might also be a player but a carrier is going to want some premium for that... AKBaillie
How to market for me?
Posted: Wed Oct 17 -- Hello everyone, I find these forums really helpful. I want to take my talents to produce in the medium/large commercial market. Where can i... Straightjacket
Creating a business plan
Posted: Wed Oct 17 -- Hi Group, First time post and I wanted to ask about creating a business plan for my agency of 5 years in Seattle. We have had great growth... insurastone
CA Insurance P&C On-Line Licensing Schools
Posted: Wed Oct 17 -- Hi All! I need your help....can anyone recommend a GOOD on-line licensing school for P & C in California? Need to care for an elderly mother... SuzieQ
Motel without fenced pool
Posted: Wed Oct 17 -- I am looking for a market that can write a small motel without a fence. the property is self contained so no one can just walk into the... farmcity
Best Comp Market for Restaurant w/ Heavy Losses
Posted: Wed Oct 17 -- The OP is looking for Workers Comp. OP, what state? chrisg
Workcomp in Ca code 5645
Posted: Tue Oct 16 -- Possibly Applied Underwriters but they will want their payroll also. Another option along those lines would be their payroll company. justthere

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
Missouri Police Offer Breath Tests to Bar Patrons
Posted: Wed Oct 17 -- And then they follow them home:) Actually, doesn't sound like a bad idea. I'd like to see how this program turns out. Mikey
Southern California Worker Dies in Tuna Plant Oven
Posted: Tue Oct 16 -- Oh Jorma, where are you now? reality bites
Indiana Doctor Nabbed in Italy Gets 7 Years in Prison
Posted: Mon Oct 15 -- I smell a film treatment in the works. Nabbed in the Italian Alps while living in a tent in the winter? And with $30 mil absconded... reality bites
Man Charged With Ninth DUI In Montana
Posted: Wed Oct 17 -- He's giving the guy in North Dakota a run for it! Canuck

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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