Friday, November 30, 2012

Daily Headlines: Friday, November 30, 2012

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Insurance Journal Daily Headlines
November 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S. Regulators Urge Flexibility in Basel III Rules for Banks, Insurers

U.S. lawmakers and state financial regulators on Thursday called on federal officials to revamp proposed rules that would force financial ...

Congressional Leaders Push to Pass Farm, Crop Insurance Bill

With time running out, agricultural leaders in Congress vowed on Thursday to do everything they can to pass a farm bill that cuts spending ...

Hurricane Center Seeks to Improve Storm Surge Warnings

Friday marks the end of an Atlantic-Caribbean hurricane season where the greatest devastation was caused by water rather than wind, U.S. ...

Ratings Recap: Zurich America, Prism, FAIRCO, American Standard

A.M. Best Co. has affirmed the financial strength rating of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of Illinois-based ...

Willis Launches WillisCaptus, New RRG Data Management System

Willis Global Captive Practice, part of the global insurance broker Willis Group Holdings has launched an online underwriting and data ...

Lynch Named Kemper P&C Group Executive; Schulte Resigns

Kemper Corp. announced that Denise I. Lynch has been named property/casualty group executive effective Dec. 1. She will report directly to ...

From MyNewMarkets.com Torus Survey: Top Issues in Management Liability & Professional Lines Market

A recent survey* undertaken by global specialty insurer Torus has highlighted a myriad of current issues facing the management liability and...
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East

New York Gov. Cuomo Orders Insurers to Speed Up Sandy Claims

New York Governor Andrew Cuomo on Thursday imposed emergency regulations on insurers to speed the processing of claims from hundreds of ...

U.S. Judge Allows Civil Suits in Meningitis Outbreak to Proceed

A federal judge in Boston on Wednesday allowed civil suits against the pharmacy at the heart of the deadly U.S. meningitis outbreak to ...

Penn.-Based W.N. Tuscano Buys Special Risk Solutions From Utica Mutual

W. N. Tuscano Agency, a wholesale broker located in Greensburg, Penn., acquired Special Risk Solutions Inc. (SRS), the brokerage division ...

GMI in Pennsylvania Launches Norman Specialty Insurance Group

GMI Insurance -- a Valley Forge, Penn.-based managing general agent for transportation insurance nationwide -- announced the launch of ...

Lockton Expands Philadelphia Office, Hires 2 Vice Presidents

Lockton, the world's largest privately held independent insurance brokerage firm, expanded its Philadelphia regional operation with the ...

Heffernan's N.Y. Branch Names Director of Commercial Lines & Marketing

California-based Heffernan Insurance Brokers recently hired Jason C. Cavallo to join its New York office as director of commercial lines ...

N.Y. Law Firm Nelson Levine Hires 2 Attorneys From Harleysville, MetLife

Targeting strategic expansion, Nelson Levine de Luca & Hamilton, a New York-headquartered national law firm serving the insurance industry, ...

N.Y. High Court Says Affair Is Medical Malpractice

New York's highest court says it was medical malpractice for a Long Island family doctor to have an affair a married patient he treated for ...
Errors and Omissions Fraud Detection 2-part series: New class from Academy of Insurance
Midwest

Socius Insurance Services Hires Zaroski as VP in Chicago

Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has hired Laura Zaroski as vice ...

Study Finds Gary, Indiana, Nation's Most 'Underpoliced' City

Gary, Ind., is the most "underpoliced" city in the nation, a new study released this month shows. "Over a quarter of people's income is ...

Texting Driver Gets Prison in Ohio Fatal Crash

An Ohio driver distracted by a text message when he caused a fatal crash has been sentenced to nearly five years in prison. A judge in ...
Insurance Journal's 2013 Insurance Industry Events Calendar - Submit your event!
Southeast

Hackers Steal South Carolina Insurance Agency Funds

A business in Hickory reports thousands of dollars were taken after a hacker got into a computer system. The Hickory Daily Record reported ...

West Virginia Mine Blast Probe Widens, Top Executives Could Be Next

Federal prosecutors investigating the West Virginia mine explosion that killed 29 men have widened their net, filing criminal charges ...
South Central

Surplus Lines Premium on the Rise in Texas

The amount of surplus lines insurance premium written in Texas rose by 25 percent as of the end of October compared with the same period ...

BP: Many Settlement Opt-Out Requests Weren't Valid

Only about half the businesses and individuals who asked to be excluded from a proposed settlement over BP's 2010 oil spill submitted valid ...

Kingsway Startup to Sell Homeowners Insurance in Louisiana

Kingsway Financial Services Inc. announced it has completed the formation Maison Insurance Co. (Maison), a property/casualty insurance ...
West

Lawsuit: Fedex Fires Utah Driver Over Russian Accent

A Utah truck driver alleges FedEx fired him because of his Russian accent, even though he offered to appear before corporate higher-ups to ...

Brewer Rejects State-Run Health Exchange for Arizona

Arizona Gov. Jan Brewer has decided against creating a state-run health insurance exchange to implement a key part of President Barack ...

Pregnant Waitress Wins Settlement From Arizona Bar

A Peoria, Ariz. restaurant and bar must pay $15,000 to a former waitress who was moved from Sunday shifts because its management thought ...

Hull & Company Opens New Marine Department

Hull & Company has now opened a new marine department at its Stockton, Calif. location and has appointed marine risk specialist Quincy M. ...

Gone Fishin': California Agency Owner Sells to Specialize in Outiftters

Trinity Insurance Services Inc. has been purchased by McNeil & Company Inc. Insurance Risk Services out of New York in a move that gives ...

California Department Insurance: Streamlined Licensing

The California Department of Insurance announced a new process for professionals submitting insurance agent, broker, adjuster and bail ...
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International

French Court Clears Continental of Criminal Liability for 2000 Concorde Crash

Continental Airlines was cleared on Thursday of criminal responsibility for the Concorde crash in Paris in 2000 that killed 113 people, ...

S&P Report: Reinsurers Discuss Industry Lessons Learned From Hurricane Sandy

A recent report, "Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy," published Nov. 29, 2012, on RatingsDirect, ...

Willis North America to Acquire Canadian Benefits Broker Avalon Actuarial

Willis North America, a unit of Willis Group Holdings, announced that it has entered into a definitive agreement to acquire the assets of ...

Euler Hermes and MAPFRE Form 'Solunion'; a New Credit Insurance Venture

Euler Hermes and MAPFRE jointly announced the launch of "Solunion"- the brand name of their new credit insurance joint venture in Spain and ...

Carr Joins Mitsui Sumitomo at Lloyd's to Expand Marine Liability Market

Mitsui Sumitomo at Lloyd's announced the appointment of Darren Carr as Class Underwriter for its marine liability underwriting account in a ...

Ratings Recap: Mansard, Custodian & Allied, Ability Re, TATIL

A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating of 'B' (Fair) and issuer credit rating of "bb+" of ...

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Rate Changes Coming to Healthy Railroad Industry

At one time it seemed that the railroad industry was doomed, but thanks in part to the...
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Effects of Worldwide Economic Instability on American Companies

Despite a slightly improved economy here in the U.S., the global economy is not out of the...

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New Discussions in the Forums

Small agency looking for personal lines carrier
Posted: Fri Nov 30 -- We are a small insurance agency looking to get back into personal lines P&C after 6 years out of the business. Does anyone know of a carrier... msidden
Freight Forwarding in Ca
Posted: Thu Nov 29 -- Sounds like your applicant requires a BMC-84 Property Bond ($10,000) to be filed with the FMCSA. Additionally this would dictate broker's... Miguelito
Tower Erection Contractor
Posted: Wed Nov 28 -- Thanks bkrigsman! I appreciate the response! Halpert
Exotic car, bad driver!!
Posted: Wed Nov 28 -- How does an exotic car repair shop get onto the list of available repair shops for an insurance company? autorepairframingham
Amerisure Mutual
Posted: Mon Nov 26 -- We don't know of any MGA's with Amerisure. But we and other retail agents have access. Perhaps you can broker a deal with a retail agent.... bkrigsman
Attorney considering CPCU- thoughts?
Posted: Wed Nov 21 -- I think it's always wise to think ahead and be prepared for multiple opportunities and interests which may come along. I have several... InsuranceVet
Benelect wrap around plans
Posted: Tue Nov 20 -- We are looking to place one of our group health accounts with Benelect which is a wrap around plan. I wanted to see if anyone else has used... JAM

Reader Comments

High-Security Driver's License Runs Into Opposition in States
Posted: Tue Nov 27 -- Call me crazy, but I'd way rather see us not borrow another $11,000,000,000.00 to implement easily hackable chipped ID cards (and black and... ExciteBiker
Investigation Ongoing in Huge Texas Highway Wreck
Posted: Mon Nov 26 -- What's amazing is that pileups like this don't happen every 10 minutes, since nowadays the typical interstate highway is a never-ending... Roland
Monsters Under the Bed: Insurance Coverage Gaps and Other Invisible Exclusions
Posted: Wed Nov 28 -- this should have been labled as "very slanted opinion piece" instead of letting us assume it might be a "news article". sos, IJ must have... bob
Indiana Truck Driver Logs 3 Million Miles of Safety
Posted: Thu Nov 29 -- Congratulations and thanks to Mr. Batt. It is a wonderful milestone. So many drivers think only of themselves and where they want to go or... v
Oklahoma Judge: Hobby Lobby Must Offer Morning-After Pill
Posted: Mon Nov 26 -- Chrisitan Scientists are against healthcare of any kind. Having healthcare coverage of any kind is a violation of their reigious freedom.... Don't Call Me Shirley

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