Daily Headlines: Friday, November 9, 2012

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November 9, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Senate Banking Committee Post Possible for Wall Street Critic Warren The chances are good, but not guaranteed, that Elizabeth Warren will secure a highly coveted seat on the Senate Banking Committee, a move ... Plaintiffs, BP Urge Judge to Approve $7.8 Billion Oil Spill Settlement BP Plc and lawyers representing over 100,000 individuals and businesses claiming economic and medical damages from the 2010 Gulf of Mexico ... Businesses Operating in Social Media Denial Is your agency or company suffering from social media denial? Despite 60 percent of Americans using some form of social media, according to ... Markel Promotes Thompson to President of Markel Specialty Greg Thompson has assumed new responsibilities as president of Markel Specialty, a division of the Virginia-based specialty insurer Markel ... Philadelphia Insurance Companies Names New CEO Bala Cynwyd, Penn.-based Philadelphia Insurance Companies said Chairman and Chief Executive Officer Jamie Maguire will be stepping aside as ... Insurance Private Equity Pioneer Sargent Passes Away Joseph Denny Sargent, chairman of Bradley, Foster & Sargent (BFS), an investment advisory firm, and former managing partner and chairman of ... Torus Adds Media Liability, Financial Institution Coverages Torus has expanded its U.S. management liability and professional lines practice with the addition of two new specialty insurance products: ... Markel Unveils Risk Management Portal for DataBreach Policyholders Markel has launched a new risk management portal for DataBreach policyholders that includes information and technical resources that can ... Arch Insurance Group Launches New Public Company D&O Policy Arch Insurance Group, a member of Arch Capital Group Ltd., has launched Arch Essential D&O, a primary policy specifically designed to ... Superstorm Sandy Stress Scenarios Won't Impact Insurer Ratings: Fitch Even an extreme $40 billion scenario for property/casualty insurance industry losses from Hurricane Sandy would not drive material rating ... Milward Named VP Business Development for Council of Agents & Brokers Webb Milward has returned to The Council of Insurance Agents & Brokers as vice president of business development. Milward, who previously ... Theft & Vandalism Claims Have Carriers on Edge in Vacant Property Segment Insurers are restricting the availability of theft and vandalism coverage in the vacant property insurance market, where there is still... More National News East Nor'easter Brings New Power Outages for Sandy-Battered States The nor'easter that stymied recovery efforts from Superstorm Sandy pulled away from New York and New Jersey Thursday, leaving hundreds of ... IICF Donating to Red Cross for Sandy Relief Efforts The Insurance Industry Charitable Foundation (IICF) Northeast division has committed to a donation of $50,000 from its reserves to the ... Post-Sandy Snowstorm Causes New Damage, Complicates Business Insurance Businesses in New York and New Jersey that were preparing insurance claims for losses from Superstorm Sandy now have a second headache: how ... Marsh & McLennan Agency Acquires Protector Group in Massachusetts Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Worcester, Massachusetts-based The Protector Group ... More East News Midwest GOP Holds on to Michigan Supreme Court Majority Republicans will hold on to their 4-3 majority on the Michigan Supreme Court after winning two of three up-for-grabs seats. Voters selected ... FDA: Chicago Fertility Doctor Didn't Test Donors for STDs Federal regulators have sent a warning letter to a Chicago fertility doctor, citing his clinic's failure to meet standards for screening ... Indiana Farm Deaths Fell to 16 in '11, None with Kids A new Purdue University report says farm-related deaths in Indiana fell to 16 last year and none involved children for the first time in 13 ... More Midwest News Southeast Georgia Unlikely to Run Health Insurance Exchange: Gov. Deal A day after Barack Obama's re-election, Gov. Nathan Deal suggested that he will not implement a Georgia health insurance exchange as part ... Court Invalidates Sex Harassment Award to Southern Mississippi Coaches The Mississippi Supreme Court has ruled against three former University of Southern Mississippi soccer coaches who claimed sexual ... Regions Insurance New Atlanta Office to be Headed by Breedlove Regions Insurance has established a new office in Atlanta and hired industry veteran, Mike Breedlove, to lead the new office, its first in ... More Southeast News South Central Former Insurance Agent Headed to Prison for Defrauding Oklahoma Seniors Former Oklahoma insurance agent Marshall Virden has been sentenced to two years in prison for defrauding senior citizens in Wagoner County, ... Texas Manufacturer Faces $64K Fine for Workplace Hazards A Belton, Texas-based cabinet manufacturer has been cited by federal regulators for safety violations in the workplace and faces a fine of ... Lockett Named Senior VP of Business, Diversified Services at TDECU TDECU, headquartered in Lake Jackson, Texas, has appointed Robert S. Lockett III as senior vice president of Business and Diversified ... More South Central News West SIAA Adds Five In West in October The Strategic Insurance Agency Alliance signed 40 new member agencies in October, five of those in the Western U.S. Of October's signed ... Oregon School Services District Suit Settled The former superintendent of an agency that provides services to schools in the central Willamette Valley will get $200,000 to settle a ... Kreidler's 4th Term in Washington: Healthcare, Climate Change, Excess Surpluses Washington Insurance Commissioner Mike Kreidler won nearly six in 10 votes in his re-election bid, giving him bragging rights as the U.S.'s ... More West News International IMF Urges Permanent Fix to U.S. 'Fiscal Cliff' The International Monetary Fund on Thursday urged the United States to quickly reach an agreement on a permanent fix to avoid automatic tax ... Guatemalans Huddle in Streets after Deadly Quake Guatemalans fearing aftershocks huddled in the dark and frigid streets of this mountain town wrapped in blankets early Thursday, while ... Risk Managers' Top 3 Concerns: Interest Rates, Currency Markets, Regulations Interest rates, volatile currency markets and changing regulations are the top three things keeping risk managers from their sleep. Those ... More International News Join the Insurance Journal Network Insurance Journal TV Big I's Bob Rusbuldt: Agents, the 2012 Election and the Fiscal Cliff Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America,... Watch Now Market Outlook: Stable But Not Robust Calling today's market a "hard market" would be going too far, says Michael Miller, president... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums E&O Coverage Posted: Thu Nov 8 -- If you are with Lloyds , Maxum or Markel you can most likely save some money and get coverage with an Admitted carrier. If you want a quote... Coveredone Winery Tour (Designated Driver) coverage for non-owned / ren Posted: Thu Nov 8 -- Looking for coverage for a winery tour business were clients' vehicles or their rental car is the transportation vehicle, functioning as a... NapaWineryTours Workers Comp for Importers - CA Posted: Thu Nov 8 -- I am looking for a wholesaler which has access to Employers, First Comp, and other WC markets. Can anyone recommend one? Thanks, Sarkis... InsureTime how to switch from agency side to corporate underwriting? Posted: Thu Nov 8 -- Companyman is correct. You will need to be located near a main underwriting facility for at least the first couple of years for training.... WineryAgInsure CGL for Various Consumer Goods Importer - CA Posted: Wed Nov 7 -- Considering the products and the fact that the items are being imported, $25k is less than 1.5% OF SALES, is a very good price. The problem... mccluney Creating a business plan Posted: Mon Nov 5 -- A business plan is just a starting point. You mention wanting to have "measured growth". I was at the same point, almost exactly as you, 5... Swymmer MKNI Commissions Posted: Mon Nov 5 -- MKNI Commissions...do they pay you on time after they send you the email if your commissions exceed $500.00? Every month I get the email... mb95207 Go to Forums Reader Comments Election Gamble Backfires for Financial, Energy Firms: Commentary Posted: Wed Nov 7 -- Sorry, but compromise time is over. The GOP made darn sure of it when instead of taking a deficit reduction deal that was everything they... ExciteBiker Insurance Agents and the 2012 Election: Interview with Big I CEO Rusbuldt Posted: Fri Nov 2 -- "According to Rusbuldt, Romney proved to be "quite pragmatic" when he was governor of Massachusetts and he feels that Romney would be... DS Florida Consumer Advocate Hits Use of Past Credit History to Deny Claims Posted: Sun Nov 4 -- Another black eye for the Florida insurance industry. Universal shouldn't be allowed to deny a claim based on credit if they forego running... Arthro Dad Of Girl Killed In Colorado Theater Shooting Sues Posted: Mon Nov 5 -- Tragic? Yes....and my heart goes out to the families. Is the theater responsible? NO! How can a theater amp up security - install TSA-type... Scott Superstorm Sandy Will Test Federal Flood Insurance Program Posted: Mon Nov 5 -- Why should we (taxpayers) pay, not just ONCE, but over and over for you to live waterfront? After we pay ONCE, you are not eligible...if you... 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