Wednesday, November 28, 2012

Daily Headlines: Wednesday, November 28, 2012

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Insurance Journal Daily Headlines
November 28, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

White House Request for Sandy Aid Expected to Include Flood Insurance Funds

The White House is expected in the coming days to send Congress a multibillion dollar request to fund recovery from Superstorm Sandy, which ...

Senate Preparing New Iran Sanctions, Expanded Insurance Ban

New sanctions aimed at reducing global trade with Iran in the energy, shipping and metals sectors may soon be considered by the U.S. Senate ...

October Disaster Loss at $1.08B: Allstate

Allstate Corp. expects to report October disaster losses of $1.08 billion, mostly due to superstorm Sandy, the home and auto insurer said ...

ProWriters Acquired; Opens as Independent Managing General Underwriter

West Chester, Pa.-based ProWriters (www.prowritersins.com), formerly a professional liability division of Venture Insurance Programs, has ...

Wind Deductibles and Sandy: What It Means for Total Insured Losses

On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast--a year to the day since the last northeastern superstorm ...

IPISC Launches IP Litigation Coverage for Cyber/Media-Based Tech Companies

Louisville, Ky. headquartered Intellectual Property Insurance Services Corporation (IPISC) has launched IP Defense Indemnification ...

Markel Adds DataBreach Mitigation to Management Liability Policies

Markel is now offering DataBreach Mitigation coverage for its management liability product line. The policy includes a sublimit for PR ...

From MyNewMarkets.com Rate Changes Coming to Healthy Railroad Industry

At one time it seemed that the railroad industry was doomed, but thanks in part to the economic stimulus plan, technology improving their...
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East

After Sandy, Lower Manhattan Limps Back to Life

The hum of massive mobile generators, boilers and pumps emerges blocks from Manhattan's Financial District and turns into a steady din ...

Journalist Paula Zahn to Be Keynote Speaker at IICF's Dec. 12 Benefit Dinner

The Insurance Industry Charitable Foundation (IICF) Northeast division announced that award-winning journalist Paula Zahn will be keynote ...

Selective Insurance: $100-$120M Preliminary Pre-Tax Gross Loss for Sandy

Branchville, N.J.-based Selective Insurance Group today said a preliminary pre-tax gross Hurricane Sandy loss would be between $100 to $120 ...

Connecticut Archdiocese Sues Insurer Over Misconduct Payments

The Roman Catholic Archdiocese of Hartford, Connecticut, says its insurer has failed to cover more than $1 million the archdiocese paid out ...
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Midwest

Ohio Insurance Institute Launches Insurance Careers Website

The Ohio Insurance Institute (OII) announced it has launched www.InsuranceCareers.org, a new website dedicated to providing information on ...

Associated Agencies Names Herz President and Schrayer CEO

Associated Agencies Inc., based in Rolling Meadows, Ill., has promoted 35-year-old Joshua Herz to president, making him the fourth person ...

Board Suspends License of Ex- Illinois Workers' Comp Arbitrator

An attorney disciplinary board has suspended the license of a former workers' compensation arbitrator citing misconduct. The Belleville ...
New class from Academy of Insurance: Proper use of Premium Financing
Southeast

Kentucky Testing Dam for Possible Earthquake Damage

Officials in eastern Kentucky are conducting tests on a dam to see if a recent 4.3 magnitude earthquake centered near Blackey enlarged the ...

Florida Commission to Decide Nuclear Plant Insurance Rate Offset

The state Public Service Commission is considering annual rate adjustments sought by Progress Energy Florida including a charge for power ...

Georgia AG Warns Auto Buyers: Beware of Sandy-Damaged Vehicles

Georgia's Attorney General Sam Olens issued a consumer alert notice last week, warning consumers who are in the market for used cars to ...

South Carolina Emergency Officials Study Sandy for Lessons

Emergency officials on the South Carolina coast are looking at Superstorm Sandy to try to learn ways to better prepare for future storms. ...
South Central

Audit: Louisiana Restaurant Inspections Don't Ensure Food Safety

Louisiana's regulators of food safety fail to ensure restaurants and other retail food establishments are complying with health standards ...

Texas Green Industry Safety Group Dividends now Exceed $3M

Dallas-based Hotchkiss Insurance Programs LLC announced a $273,731 dividend to the Texas Green Industry Workers' Compensation Safety Group ...

Appeals Allow Louisiana Cardiologist Convicted of Fraud to Remain Free

A former Lafayette cardiologist is asking to remain free pending a request that the U.S. Supreme Court hear an appeal of his 2009 ...
West

4 Convicted in California for $154M Medical Insurance Fraud

Orange County prosecutors say four people have been convicted of crimes relating to a $154 million medical fraud scheme in which hundreds ...

California DAs, Diet Company Reaches 900K Settlement

A group of California prosecutors say they've reached a settlement with a weight loss company that claimed people could lose weight by ...

Man Sues New Mexico State Police Over Son's Shooting Death

New Mexico state police have been sued by the father of a Glorieta man who was shot and killed at his home by officers last year as they ...

Male Cook Files Bias Lawsuit Against Idaho School District

A former cook in the Nampa School District in Idaho filed a federal discrimination lawsuit, claiming he suffered bias in the kitchen at the ...
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International

Lloyd's Report Focuses on 'Gap' in Disaster Costs and Insurance Coverage

A new report from Lloyd's notes that the "the world has been battered by natural catastrophes in recent years, revealing a serious gap ...

AIR Analyzes Heavy Impact of UK Floods; 2012 Losses 'Above Average'

Catastrophe modeling firm AIR Worldwide has issued a preliminary report on the floods caused by the heavy rainfall that began lashing the ...

UN Report: Melting Permafrost Seen as New Peril in Global Warming

Permafrost lands across Siberia and Alaska that contain vast stores of carbon are beginning to thaw, bringing with it the threat of a big ...

Willis Provides Expertise to UK Government Report on Cat Models/Risk Reduction

A bulletin from Willis Group Holdings notes the international broker's role in providing its expertise for a new UK Government Office of ...

Swiss Re to Invest $500 Million in Europe Infrastructure Debt through Macquarie

Swiss Re announced that it will engage in long-term financing of infrastructure businesses and assets, and has committed an initial US$500 ...

Taiwan to Pay Life Insurer Transglobe $3 Billion in Record Bailout of Rival

Taiwan's government will pay Transglobe Life Insurance T$88.4 billion ($3 billion) to take over ailing rival Kuo Hua Life after Transglobe ...

Best Affirms Zurich Insurance and Group 'A+' Ratings; Outlook Stable

A.M. Best Europe - Rating Services Limited has affirmed the financial strength rating of 'A+' (Superior) and issuer credit rating (ICR) of ...
New class from Academy of Insurance: What to expect from specialty lines claims

Insurance Journal Blogs

How to Use Facebook to Market Your Agency Effectively

This post is part of a series on insurance marketing and training sponsored by Astonish. Having a well-defined social media strategy is ...

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Insurance Journal TV

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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

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
Freight Forwarding in Ca
Posted: Tue Nov 27 -- Risk does not take control of goods or cargo at all. Thanks Trotter trotter
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
Automotice Diagnostic Equipment-Portable
Posted: Tue Nov 20 -- Any markets available to insure on an inland marine policy, an expensive PORTABLE piece of Diagnostic Equipment worth about $20,000 (with... FARRELLS
SEO and buying back links
Posted: Tue Nov 20 -- It is always better to obtain backlinks naturally. Purchased ones don't always help if they are not on the sites that rank. NationalMCA

Reader Comments

Obamacare Rules on Pre-Existing Conditions, Benefits, Wellness Released
Posted: Wed Nov 21 -- "Meanwhile, the administration is moving ahead to complete rule making to ensure timely implementation." I thought that the rules were in... WyomingAgent
Hobby Lobby Appeals Morning-After Pill Decision
Posted: Tue Nov 27 -- I just want to thank Hobby Lobby for standing up for what they believe in. I will continue to do business with them over alot of other... Jackie
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
Alcohol Raises Injury Risk, But Also Survival Rate
Posted: Wed Nov 21 -- There was something we could have learned from watching all those John Wayne westerns "Better take a swig of this here whiskey before I take... Original bob

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