Daily Headlines: Monday, January 14, 2013

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January 14, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG Sues to Preserve Right to Sue Bank of America, Others Over Mortgage Debt American International Group Inc. has filed a lawsuit against a vehicle created by the Federal Reserve Bank of New York to help bail out ... New Reform-Minded Farm Law Needed: American Farm Bureau U.S. farmers want a new reform-minded farm law even if it means the end of a popular $5 billion-a-year subsidy that is paid regardless of ... 2012 Landmark Year for Workplace Class Action Litigation: Study When it comes to complex employment-related legal disputes, 2012 will be considered a landmark year, according to a new report on ... Rising Premiums Do Not Curtail Insurance Spending: Survey More than a third of Americans spent more on insurance during the past year, according to a new survey. Some 37 percent of people ... Ullico to Offer Policies through Alterra America Ullico Inc. has announced that its subsidiary, Ullico Casualty Group, Inc., will begin writing and renewing multiemployer and government ... Philadelphia Launches Coverage for Fuel Dealers Philadelphia Insurance Cos. (PHLY), a property/casualty and professional liability insurance company for niche markets, is now offering ... Home Value Insurance Co. Dissolved The rehabilitation of Calif.-based Home Value Insurance Co. (HVIC) has been ended and the corporation has been dissolved by order of the... More National News East Flood Walls for Subways: N.Y. Commission Urges Safeguards Against Future Storms A commission formed to examine ways to guard against storms like Sandy released a report Jan. 11 that calls for flood walls in subways, ... What FEMA's Advisory Flood Maps Mean for New Jersey The federal government has published maps showing the risk of flooding has worsened in New Jersey since it last gathered such data in the ... The Hartford CEO McGee Returns After Surgery The president and chief executive officer of The Hartford Financial Services Group Inc. says he underwent surgery over the holidays to ... Readying for Sandy, New Jersey Transit Erred in Modeling Storm New Jersey Transit incorrectly used federal government software that otherwise could have warned officials against a disastrous decision to ... N.Y. Gov.: New Workers' Comp Legislation Will Offer Relief to Businesses New York State Gov. Andrew Cuomo said this week his administration plans to introduce new legislation to continue to improve the workers' ... New York Senator Pitches Mold Relief in Sandy Aid Bill New York Sen. Charles Schumer, D- N.Y., says the second part of the Sandy relief aid package includes as much as $1 billion to help ... More East News Midwest Michigan Governor Signs Cellphone Ban for Novice Drivers Michigan Gov. Rick Snyder has signed legislation prohibiting novice drivers from using a cellphone while behind the wheel. The bill applies ... Graeter Added as Aviation Broker at Arlington/Roe & Co. Indianapolis, Ind.-based Arlington/Roe & Co. has hired Kate Graeter as national aviation insurance broker and marketer. Graeter has 16 ... Minneapolis Officials: New Pedal Pub Rules to Include Insurance Minneapolis, Minn., officials plan to hold hearings this month on so-called "pedal pubs." Those are the bars on wheels that are driven down ... South Dakota Tree Farms Agree to Pay $170K in Insurance Fraud Case The owners of two South Dakota tree farms linked to a Federal Crop Insurance Program fraud case have agreed to pay the federal government ... Officials in Iowa Town OK Golf Carts on Streets Officials in southern Iowa are giving residents the green light to drive golf carts on city streets. The Ottumwa Courier reports the ... Mississippi Rock Blasting Puts River in Ship Shape Crews have completed the most critical phase of removing bedrock that threatened barges along a crucial stretch of the drought-starved ... More Midwest News Southeast Florida Regulators Seek to Distribute $25 Million in AIG Assets Florida regulators are looking to return to residents some $25 million in unclaimed property that has been returned to the state as part of ... Lake Norman Buys Aquesta Insurance's Employee Benefits Unit in N.C. Mooresville, N.C.-based Lake Norman Benefits has acquired the employee benefits practice unit from Aquesta Bank and its subsidiary Aquesta ... Tennessee Commissioner McPeak Urges Fire Safety in Manufactured Homes Tennessee officials are urging residents of manufactured homes - also known as mobile homes or trailers - to practice fire safety. More ... More Southeast News South Central Oklahoma State Senator Criticizes Spending at Insurance Department An Oklahoma state senator has announced his intention to file legislation to curb what he calls unnecessary expenditures at the state ... Parish in Louisiana Files New Charges in Hurricane Gustav Flood Appeal Officials in Louisiana's Livingston Parish claim lies, bungling and withholding of information are grounds for reversal of the Federal ... Louisiana Citizens Insurance Proposes 7.7% Rate Hike Louisiana's property insurer of last resort has proposed raising homeowner's rates an average of 7.7 percent statewide this year. The ... More South Central News West Ship Safety Rules To Be Reconsidered for Bay Bridge in Northern California Days after an oil tanker struck a San Francisco-Oakland Bay Bridge tower, the Coast Guard is calling for reconsideration of rules that ... Can California's San Andreas Break At Once? Study Says Maybe A new study suggests certain earthquake fault segments long thought to be stable may rupture and cause a mega-quake. That's what happened ... Victims' Relatives Sue Rivera's Company Over Crash In California Relatives of four passengers killed last month with Jenni Rivera in a plane crash in Mexico filed a lawsuit against Rivera's company ... California Wholesalers Fret Over Upcoming Legal Decision A pending legal battle that could expose wholesalers in California to more lawsuits was the centerpiece of talk at the California Insurance ... All Risks, Names Chilimidos Vice President in Northern California All Risks Ltd. named Darren Chilimidos vice president casualty broker to the San Francisco, Calif. office. Chilimidos has experience ... More West News International New Generali Boss Promises 'Revolution' at Italian Insurer Mario Greco, the new boss of Europe's 3rd largest insurance group, Italy's Generali, has vowed to boost operating profit by a quarter via ... Aon Benfield Launches 'Geomagnetic Storm Report' for Peak Solar Activity Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has issued a report advising the insurance industry to ... Is the WTO About to Abandon Dream of Global Free Trade? As it seeks a new chief to lead it out of a negotiating death-spiral, the World Trade Organization looks doomed to be fatally undermined by ... UK Banks Come to Terms with Britain's Compensation Industry The boss of Britain's biggest retail bank struck a chord with the public when he complained of getting unsolicited calls from claims ... Governments Struggle with Financial Crisis as the Planet Warms up The global economy has been through economic recessions before, and has eventually recovered from them. This time around, however, it must ... More International News Join the Insurance Journal Network Insurance Journal TV Van Eeten Takes the Reins at Texas Surplus Lines Association Kathy Van Eeten, senior vice president, regional marketing for CRC | Crump, was installed... Watch Now 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... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Per project E&O for Architects and Engineers Posted: Mon Jan 14 -- Good morning folks, I'm a retail agent in Washington State and I am looking for a market willing to write Architects and Engineers E&O... Shagster1261 Agency In NC or SC Posted: Mon Jan 14 -- I operate an agency that acts in NC, SC, VA, GA, and TN. If I had the choice, I would say operate in SC. You have more coverages available... NCPCLHagent Personal umbrella with commercial exposure on property Posted: Mon Jan 14 -- If possible, insure the business risk and the HO risk together with the same company. It would make it substantially easier to have a claim... NCPCLHagent What is your biggest pain as an agent? Posted: Fri Jan 11 -- I'm not an Agent nor broker. However, I found the topic is funny ! I've been in the industry for over 20 years, mostly in Carriers' side and... aylundmark What is most fullfilling as an agent? Posted: Fri Jan 11 -- In response to the previous question of "what is your biggest pain as an agent?", I 'm curious what kind of response this question will get. superdash8 Florida Mobile Home Insurance - Coastal Surplus Lines Posted: Wed Jan 9 -- Who are you writing it through? Need a program in Hillborough. btolomeo Manufactured Home (in park) Insurance in Florida Posted: Tue Jan 8 -- Hello agentagent, I am a Product Mgr working for a Surplus Lines carrier. We are currently writing coastal Manufactured Housing insurance in... insprodmgr Deposit into the trust account or operating account? Posted: Fri Jan 4 -- I would add that Option A, deposit to the Trust Account is correct; and in a perfect world, commission would not be moved to the operating... TheFieldman Go to Forums Reader Comments AIG Says It Has Obligation to Consider Bailout Lawsuit; Critics Pounce Posted: Wed Jan 9 -- It seems the problem is Hank Greenberg. He is making a stink about the bailout which probably was caused with the culture and things done... rukidding AIG May Join Suit Against Federal Government Over 'Unfair' Bailout Terms Posted: Tue Jan 8 -- I enjoy bashing AIG as much as anybody else, but realistically I think it's a safe bet that AIG won't join the lawsuit (I'd give 5:1 odds... nomesaneman AIG Decides Not to Join Bailout Lawsuit Against Government Posted: Wed Jan 9 -- ....or to be committed. PropGal President Obama Signs Bill Repealing Car Dealer Insurance Requirement Posted: Fri Jan 11 -- but what about the jobs of the govt employees who prepare this booklet; they research 11 months of the year to ensure it is chock full of... Chad Balaamaba Mom Sues Over Teen's Skiing Death In Colorado Posted: Fri Jan 11 -- They lose these suits all the time in NH beacuse of "assumption of risk". You ski at your own risk. 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