Wednesday, October 17, 2012

Daily Headlines: Wednesday, October 17, 2012

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Insurance Journal Daily Headlines
October 17, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insurers Should Face Capital Charge on Risky, Non-Core Activities: Regulators

Insurers involved in risky activities outside their core business, such as derivatives trading, should hold extra capital to limit the ...

Hospital, Physician Professional Liability Undergoing Major Change: Aon

The way health care is delivered and financed is undergoing major change, and this is reshaping the risks that hospitals and physicians ...

High Risks Seeing Doube-Digit Hikes in Excess Casualty Rates: Marsh

Excess casualty insurance rates continued to rise in the third quarter of 2012, as insurers sought higher prices amid increasing claims and ...

OneBeacon Cuts Ties with Hagerty Agencies, Selling Essentia to Markel

OneBeacon Insurance Group Ltd. is selling its Essentia Insurance Co. unit to Markel Corp., according to company announcements this morning. ...

Towers Watson to Enhance Long-Term Care Insurance Capabilities

Towers Watson, a global professional services company, plans to acquire the business of the DaVinci Consulting Group, a boutique actuarial ...

WorkCompOne Launches Coverage Website for Small Business Owners

WorkCompOne, an online insurance destination, has launched a new website focused on serving small business owners. "Main street retailers ...

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

Massachusetts Pharmacy Settled Meningitis Death Lawsuit in 2004

Long before the current rash of fungal meningitis, the compounding pharmacy suspected in the outbreak settled a lawsuit alleging it ...

Trick or Treat: Penn. Regulators Offer Tips to Avoid Halloween Hazards

Things that go bump in the night could get bumpier on Halloween -- so the Pennsylvania Insurance Department is reminding homeowners to use ...

Brain Trauma Cases Rise in New Hampshire

A report from New Hampshire's Health and Human Services Department says traumatic brain injuries have nearly doubled in the state over the ...

Integro Names New York Office Leader

Insurance brokerage and risk management firm Integro has appointed Managing Principal Anne Anderson as head of the firm's New York office. ...
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Midwest

Missouri Recovers Nearly $8M for Consumers in First 9 Months of 2012

Consumers who filed complaints with the Missouri Department of Insurance have received almost $8 million in additional claims payments from ...

Iowa on Pace for Slowest Tornado Year in 5 Decades

Iowa is on pace to see its least active tornado season in nearly 50 years, thanks to the drought. There have been only 16 recorded ...

Missouri Police Offer Breath Tests to Bar Patrons

Lines of drinkers recently waited on a weekend night to have their intoxication levels checked and it doesn't have anything to do with a ...

North Dakota Man with 14 DUIs Sentenced to 4 Years in Prison

A West Fargo, N.D., man has pleaded guilty to his 14th drunken driving charge and been sent to prison. Sixty-year-old Kevin Tegtmeier was ...
What is an owner controlled insurance program? Webinar this Thursday from Academy of Insurance
Southeast

Tennessee Meningitis Patient Sues Massachusetts Pharmacy

A Hendersonville woman sickened by fungal meningitis after receiving a steroid injection for back pain is suing the pharmacy that supplied ...

NOAA Opens Disaster Response Center in Alabama

The National Oceanic and Atmospheric Administration has opened a disaster response center in Mobile, Ala. Grand opening was Monday for the ...
South Central

Texas Employers See 41% Drop in Workers' Comp Premiums

Texas employers are seeing a major reduction in workers' compensation insurance premiums, an insurance trade group reports. The Insurance ...

Oklahoma AG Delivers First Mortgage Settlement Check

Oklahoma's attorney general delivered $20,000 to a Tulsa couple on Oct. 15, the first of hundreds of mortgage settlement checks to be given ...

A.M. Best Downgrades Oklahoma's Farmers Mutual Fire Insurance

A.M. Best Co. announced it has downgraded the financial strength rating to B+ (Good) from B++ (Good) and issuer credit rating to "bbb-" ...
West

Washington Restaurant Involved in Salmonella Cases Reopens

A Vancouver, Wash., restaurant linked to several dozen cases of salmonella has reopened. Clark County public health officials gave On The ...

California Labor Commissioner Files $1.6 Million Suit Seeking Wages for Ag Workers

California Labor Commissioner Julie A. Su filed a $1.6 million lawsuit in Monterey County Superior Court on Tuesday against a Greenfield ...

Man Charged With Ninth DUI In Montana

Authorities in Billings say a 51-year-old Montana man has been charged with his ninth drunken-driving offense. The Billings Gazette ...

Fatal Washington Fire Started by Pinched Cord

The Seattle Fire Department says a fatal fire early Sunday was apparently caused by a pinched electrical cord in a bedroom. Firefighters ...
International

Royal Bank of Scotland Reaches Milestone in Recovery Plan

Royal Bank of Scotland is set to withdraw this week from an insurance scheme set up by Britain during the banking crisis to cover its ...

Rafael, 9th Hurricane, Bypasses Bermuda; Tropical Storm Paul Weakens

Rafael became the season's ninth hurricane on Monday after tracking through the Leeward Islands. The storm then bypassed Bermuda late ...

China Life Warns on Profits

China Life , the world's largest insurer by market value, warned of a 55 percent fall in profits in the first nine months - pointing to its ...

McKinsey's Casserely to Succeed Plumeri as Willis Group CEO

Dominic Casserley will serve as the next chief executive officer of global insurance broker Willis Group Holdings, effective Jan. 7, 2013. ...
What is an owner controlled insurance program? Webinar this Thursday from Academy of Insurance

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Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #13

Binding Summaries. A significant risk unrecognized by most producers and CSRs is the risk of being sued by the agency's own 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

Motor Cycle dealer WC (CA)
Posted: Wed Oct 17 -- If it's not too late for this one, I might be able to help. We are the program administrator for Everest National and they will write 8400.... chrisg
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
Non-profit
Posted: Tue Oct 16 -- You mentioned that you suggested UM yet you did not mention that they had vehicles. I just wanted that clarified. I would look at Umbrella... justthere
How to grow an Insurance Agency one client at a time.
Posted: Tue Oct 16 -- I agree with the customer care focus vs. commission. Doesn't matter if you're selling... Frankie
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

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
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
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
Southern California Worker Dies in Tuna Plant Oven
Posted: Tue Oct 16 -- Oh Jorma, where are you now? reality bites

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October 8, 2012
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