Wednesday, October 31, 2012

Daily Headlines: Wednesday, October 31, 2012

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Insurance Journal Daily Headlines
October 31, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insured Losses From Hurricane Sandy $7-$15 Billion: AIR Worldwide

Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the ...

Supreme Court Weighs Key 'Gray' Market Copyright Case

Several justices on the U.S. Supreme Court voiced concern on Monday about letting U.S. copyright holders block the resale inside the ...

Bank Holding Cos. Set Record in Insurance Brokerage Fee Income: Report

Bank holding companies (BHCs) set new records in insurance brokerage fee income in the second quarter and year-to-date (YTD) in the first ...

From MyNewMarkets.com Verisk Insurance Solutions Enhances Foreclosure Alert Product

Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics has added an enhancement to its Foreclosure Alert that identifies ...
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East

Hurricane Sandy Silences Atlantic City's Casinos

Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of ...

Manhattan Power Outages to Continue for Days: ConEd

Residents of lower Manhattan faced up to four days without power on Tuesday as Consolidated Edison, New York City's power provider, ...

Vermont 'Lucked Out' in Sandy Hit, but Many Still Powerless

Thousands of Vermonters remain without power and schools are closed from one end of the state to the other, but experts say the state was ...

N.Y. Gov. Cuomo Says Long Island Hit Hardest by Sandy Power Outages

New York Gov. Andrew Cuomo said yesterday that 90 percent of Long Island utility customers were without electricity after Sandy ravaged the ...
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Midwest

2 Life Terms in Missouri Insurance Agent's Death

A St. Louis man was sentenced to two life terms for his part in the robbery and murder of St. Charles, Mo., insurance agent in 2007. Before ...

Missouri AG: $36K Settlement with Company for Violating No-Call Law

Attorney General Chris Koster announced he has reached a settlement with Innovative Wealth Builders Inc., requiring the Florida business to ...

Indiana Company Rebuilding Year After Big Blaze

A year after a spectacular fire destroyed its main facility, a Fort Wayne, Ind., company has overcome a series of bureaucratic hurdles and ...

Wisconsin Woman Cited for Three DWI Crashes in Three Hours

A Verona, Wis., woman has been cited for drunken driving after the 21-year-old allegedly caused three crashes in less than three hours. ...
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Southeast

1,300 Drivers Convicted of Texting Under Georgia's 2-Year Old Law

State records in Georgia show that about 50 drivers a month have been convicted of texting and driving in the two years since a law to ban ...

Faulkner Estate in Mississippi Files Copyright Suit Over Quotes in Movie, Ad

William Faulkner wrote that the past is never dead. His heirs say their copyright to that phrase is very much alive. The author's literary ...

Insurers Say Losses from Sandy Won't Hit Florida

Insurance experts say the costs associated with losses from superstorm Sandy in the northeast should not affect Florida homeowners. Sam ...
Scary Insurance Dreams from Academy of Insurance
South Central

Deals in Louisiana Resolve 'Who Dat?' Trademark Claims

Settlements have resolved a Louisiana recording company's claims against two T-shirt vendors and a restaurant over merchandising rights to ...

Killian Joins Lockton Dunning Benefits in Dallas

Lockton Dunning Benefits announced Josh Killian has joined the Dallas-based health and welfare benefits consulting practice as director of ...

HCC Insurance Holdings Reports Record Net Earnings in Q3

Houston-based HCC Insurance Holdings Inc. reported a record $107.1 million in net earnings for the third quarter ended Sept. 30, 2012. By ...
West

Sandy Dominates Southern California PCI Conference

The subject of Hurricane Sandy dominated a conference of insurance professionals in Southern California on Tuesday - it was heavily used in ...

Viera Joins Woodruff-Sawyer in Southern California

San Francisco, Calif.-based Woodruff-Sawyer & Co. named Elena Viera as a vice president of employee benefits for Southern California. ...

Lawsuit Over Fatal Washington Ice Cave Collapse Dismissed

A federal judge has dismissed a lawsuit over a Washington state ice cave collapse that killed an 11-year-old girl in 2010. Grace Tam was ...

Native Seed Shortage Hampers Nevada, Utah Wildfire Recovery

High demand for native plant seeds in Nevada and Utah is pushing up the price and leaving short supplies following an extreme wildfire year ...
International

Canada's Manulife Says Reinsurace Exposure to Hurricane Sandy 'Manageable'

Toronto-based Manulife Financial, one of North America's largest insurers, said its exposure to Hurricane Sandy was manageable and within ...

Hong Kong Again Named World's Top Financial Centre

Hong Kong was named the world's top financial centre for the second year running by the World Economic Forum (WEF), thanks to the strength ...
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Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #15

Review Your E&O Carrier's Requirements for Carrier Writing Standards. There's a myth going around that if an agency writes with a carrier ...

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Insurance Journal TV

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Market Outlook: Stable But Not Robust

Calling today's market a "hard market" would be going too far, says Michael Miller, president...
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No Hard Market Until Economy Improves

While many in the industry see a hard or at least firming market, Alan Jay Kaufman is not...

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New Discussions in the Forums

SEO and buying back links
Posted: Wed Oct 31 -- Buying links will not do any good in your site, with the big algo change in the past 6 - 9 months common link building techniques will only... johnywhite
brightway insurance brokerage in florida
Posted: Tue Oct 30 -- I think 45% is really quite high for Brightway agents to pay for "back office" service and other features of the franchise. Perhaps 25% or... riverman38
Non-profit
Posted: Tue Oct 30 -- I'm wondering what other P&C underwriters think of an account I'm familiar with. The risk makes several types of products related to... angleblue63
Motor Cycle dealer WC (CA)
Posted: Mon Oct 29 -- RIC is now one of the access points for smaller brokers that no longer have their own State Fund appointments. Two authorized broker access... Santa Rosa Ins Broker
Query on Your Work Exclusion under CGL
Posted: Mon Oct 29 -- Exclusion J (2) says "this insurance does not apply to property damage to premises you sell, give away or abandon, if hte property damage... Porsh
Personal Articles Floater-Midwest
Posted: Fri Oct 26 -- You are trying to find someone who has a minimum premium below $250? I can't see where it would cost effective to do that for a carrier.... INTLXS
Designation Suggestions
Posted: Fri Oct 26 -- Having earned both CIC and the CPCU designations, CIC is basically "Insurance 101" for agency personnel while the CPCU and CRM programs will... earlybird

Reader Comments

Wisconsin Workplace Shooting Brings Call for New Law on Guns
Posted: Wed Oct 24 -- He ignored the restraining order and the laws associated with it - what makes anyone believe that additional legislation will prevent or... An American
Health Insurers Nervous Over Prospect of Romney Victory
Posted: Tue Oct 30 -- I see and Obama alway's tells us the truth? Bob
Car and Deer Collisions Cause 200 Deaths, Cost $4 Billion a Year
Posted: Wed Oct 24 -- Another issue that the author fails to mention is the ever expanding deer population due to a lack of predators, either natural or human. Bob
Penn. Woman Arrested for Allegedly Adding Coverage While in Ambulance
Posted: Fri Oct 26 -- Yes Libby, I can tell the difference between cheering and applause and thunder unlike you and Planet. Crowds attending Romney speeches are... Agent
$450K For Fired Southern California Worker Who Tattled On Cocaine Use
Posted: Thu Oct 25 -- Don't forget about the "pre-lawsuit" period where a claim is filed giving notice of intent to sue. If there's any time frame required to... Big Mike In CA

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