Monday, November 19, 2012

Daily Headlines: Monday, November 19, 2012

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Insurance Journal Daily Headlines
November 19, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Court Dismisses Ex-AIG CEO Greenberg's Bailout Suit Against Fed Reserve

The Federal Reserve Bank of New York won the dismissal of former American International Group Inc. Chief Executive Maurice "Hank" ...

Five Republican Governors Reject State-Run Health Exchanges

Five Republican governors rejected on Friday a major provision of President Barack Obama's healthcare reform law that calls on states to ...

Metar Weather Expands Weather Risk Insurance Products

Metar Weather is expanding the rollout of its weather risk protection insurance products to snow removal professionals, buyers of snow ...

NAIC CEO Vaughan to Exit Early; Beal Named Acting CEO

Dr. Therese M. Vaughan will step down earlier than previously announced from her post as chief executive officer of the National ...

From MyNewMarkets.com Insurers: Superstorm Sandy Will Affect Property Insurance Pricing

Insurance rates for commercial property risks are likely to start rising again next year due to Superstorm Sandy, according to insurance...
Black Friday Deals from Academy of Insurance
East

N.Y. Workers' Comp Board Seeks Changes to Medical Treatment Guidelines

The New York State Workers' Compensation Board has proposed new regulations to improve the medical treatment guidelines adopted in 2010. ...

NAIC Sets Up Consumer Call Center in Aftermath of Superstorm Sandy

State insurance regulators, working cooperatively through the National Association of Insurance Commissioners (NAIC), are coordinating ...

Mass. Independent Agents Have Over $1B Impact on State Economy: Report

Five years ago, Massachusetts introduced managed competition for the state's private passenger auto insurance. Since then, there has been ...

New York Allows Out-of-State Lawyers to Help in Sandy

New York's highest court has invoked a major disaster rule to allow lawyers from other states to practice in New York and help victims of ...

NYPD Targets Tow Truck Scams in Storm Areas

New York City police are working to prevent unscrupulous tow truck drivers from taking storm-damaged vehicles before insurance companies ...

Maine Approves Decrease in WC Loss Costs; $3.5M in Savings Expected

Maine Insurance Superintendent Eric Cioppa announced last week that the state's Bureau of Insurance has received, reviewed and approved the ...
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Midwest

BP Pays $12M in Claims to Date in Midwest Bad Gas Recall

BP says it has paid more than $12 million in claims arising from a multistate recall of incorrectly formulated gasoline that damaged some ...

American Masonry in Chicago Cited for Exposing Workers to Lead Dust

The U.S. Department of Labor's Occupational Safety and Health Administration has cited Waclaw Cilulko, doing business as American Masonry ...

Chicago Officer Charged in Towing Scam

A Chicago police officer became the 10th member of the force to be charged in what federal authorities say was a scheme to steer work to ...
New class from Academy of Insurance: What every agent needs to know about D&O
Southeast

Mississippi Supreme Court Upholds Funeral Policy Restriction

The Mississippi Supreme Court has ruled the there was nothing improper about pre-need funeral services contracts written by Waller Funeral ...

Florida Supreme Court Rules in 2 Sovereign Immunity Cases

The Florida Supreme Court last week put off a decision on whether Citizens Property Insurance Corp. can use its status as a state-backed ...

West Virginia Court Supports Lesbian's Bias Claim in Lost Job Offer

A jury in West Virginia's Kanawha County  has concluded that members of a Charleston after school program rescinded a job offer to a woman ...

Florida Gov. Scott Seeks Meeting on Health Exchange

Florida Gov. Rick Scott told federal health officials in a letter Friday that he isn't convinced a state health exchange will lower health ...
South Central

Oklahoma Cracking Down on Uninsured Drivers in Tulsa Area

The Oklahoma Insurance Department (OID) and the Tulsa County Sheriff's Office have teamed up to address Oklahoma's uninsured driver ...

Texas Mutual's General Counsel Awarded for In-House Counsel Excellence

Mary Barrow Nichols, senior vice president and general counsel for Texas Mutual Insurance Co., has been awarded the 2012 Magna Stella Award ...

West Texas Town Begins Recovery After Deadly Train Crash

Two days after a train suddenly plowed into a parade float, killing four war veterans, the city of Midland, investigators and the victims' ...

Arkansas Panel Awards $2.7M over Trooper Fatal Crash

A state panel recommended an award of $2.7 million to the estate of a woman who was killed in a crash with a speeding Arkansas State ...

Texas Energy Services Company Fined $246K for Safety Violations

U.S. Department of Labor's Occupational Safety and Health Administration has cited Vann Energy Services LLC in Nixon, Texas, with 13 safety ...
West

Arizona City Agrees To Settle Police Shooting Lawsuit

Flagstaff has agreed to a $225,000 settlement for the family of a 78-year-old Arizona man killed by police as he held his son at bay with a ...

New Mexico Man Settles Sex Abuse Suit Against Catholic Church

An Albuquerque, N.M. man has settled a suit he filed against the Archdiocese of Santa Fe and a Catholic ministry group that helps troubled ...

New Mexico Offers Driver's License Identifying Veterans

New Mexico is adding a feature on its driver's licenses to indicate that someone is a veteran. State officials said Friday the designation ...

Chipotle To Defend Itself Against Labor Lawsuit

Chipotle Mexican Grill Inc. says a lawsuit alleging the Colorado- based company has failed to pay overtime to hundreds of employees is ...
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International

World Economic Climate Continues to Decline: ICC/Ifo Survey

The health of the world's economy continues to deteriorate as insufficient demand, unemployment and the on-going debt crisis in Europe ...

HSBC in Talks to Sell $9.3 Billion China Ping An Stake

HSBC said it was in talks to sell its $9.3 billion stake in China's Ping An Insurance, stepping up a program by Europe's biggest bank to ...

Best Affirms Torus Group Ratings; Outlook Stable

A.M. Best Europe - Ratings Services Limited has affirmed the financial strength rating (FSR) of 'A-' (Excellent) and issuer credit ratings ...
New class from Academy of Insurance: Proper use of premium financing


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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,...
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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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New Discussions in the Forums

Mgmt Systems-Nexsure vs Ebix vs Hawksoft vs OTHER??
Posted: Mon Nov 19 -- Hello Iowa Guy, I congratulate your diligence in finding the right fit for your Agency's needs. I work for XDimensional Technologies (the... nexsure
Reliable Car Insurance Quotes
Posted: Mon Nov 19 -- You should first do some search about the best car insurance providers, check their history that what is their credit... chizcurlz
Demand for Medical Payments
Posted: Sun Nov 18 -- Why are companies providing such high med pay limits nowadays with the sue happy society we are in? I see "Enhancement endorsements"... Iowa Guy
Tower Erection Contractor
Posted: Fri Nov 16 -- What is the best market for a contractor that does tower erection. I know Zurich has a work comp program. Do any other standard markets... Halpert
Getting Appointed
Posted: Fri Nov 16 -- What is the process for getting appointed with a company...specifically Guardian?? Thanks chlyh2o
Splitting Commissions
Posted: Thu Nov 15 -- I am a licensed agent in Minnesota....Life, Health, Property & Casualty, but am not currently appointed with any company. Is their a way for... chlyh2o
Long Haul Trucking BA Liability - NC
Posted: Wed Nov 14 -- I am looking for some brokers to get appointed with that have companies that will write Long Haul Trucking BA Liability Risk in NC. lawverj

Reader Comments

President Obama Vows to Address Climate Change
Posted: Thu Nov 15 -- A little less hot air could help! Milner
Man Dies After Being Tossed From Colorado Bar
Posted: Tue Nov 13 -- any idea why this is newsworthy? It is bad enough that a bar-owner can be responsible for a patron's activity hours after they leave the... insurance mom
Lawyer Sues Microsoft Over Surface Tablet Storage
Posted: Fri Nov 16 -- Aren't attorneys notorious for bending the thought process to their warped way of viewing things So now this yeahoo has his panties in a... Another idiot attorney
Los Angeles County Settles Bus Accident Suit For $3.5M
Posted: Wed Nov 14 -- The award seems high. While there are no details on medical cost, inability to work, etc, $3.5 Mil for damage to one's foot seems excessive. Ruminator
Senate Banking Committee Post Possible for Wall Street Critic Warren
Posted: Mon Nov 12 -- Clean up Wall Street, Elizabeth! I'm all for it. Libby

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November 19, 2012
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