Monday, February 11, 2013

Daily Headlines: Monday, February 11, 2013

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Insurance Journal Daily Headlines
February 11, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insurers Begin Employing IBM's Supercomputer Watson

Dr. Watson is accepting new patients. The Watson supercomputer is graduating from its medical residency and is being offered commercially ...

HMS Bounty's Sinking During Sandy Under Investigation

More than a week before Hurricane Sandy became a superstorm that would zero in on the U.S. Northeast, while it was just a tropical ...

Genstar, Aquiline Bid for Genworth Businesses: Sources

Private equity firms Genstar Capital and Aquiline Private Equity LLC have teamed up and are in exclusive negotiations to buy Genworth ...

Mobile Technology Gaining with Insurers: Survey

While much of the attention around use of mobile devices in insurance has centered on consumer apps offered by large personal lines ...

Marsh Enhances Access to National Flood Insurance Program

Marsh has enhanced its Flood Service Center (FSC) facility, which is dedicated to providing clients flood coverage and includes options ...

From MyNewMarkets.com U.S. Commercial Insurance Prices to Firm in 2013: Marsh

Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding...
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East

Northeast Trying to Get Back on Track After Snowstorm

Emergency crews and residents struggled to clear roadways and sidewalks from a storm that rampaged through the Northeast, dumping up to 3 ...

Virginia's Hilb Group Acquires Pennoyer Group in Maryland

The Hilb Group, a Richmond, Va.-based insurance broker, announced the acquisition of The Pennoyer Group from its shareholders. The ...

N.Y.-N.J. Port Authority: Sandy Caused $2B in Damage

The Port Authority of New York and New Jersey will spend more than $2 billion to repair damage from Superstorm Sandy, but the agency's ...

Northeast Blizzard Hit Like a Hurricane

A blizzard packing hurricane-force winds hammered the northeastern United States on Saturday, cutting power to 700,000 homes and ...

The Hanover Posts $55M Q4 Loss, but Full-Year 2012 Profit Up 52% to $56M

The Hanover Insurance Group in Worcester, Mass., reported a net loss of $55.0 million for the 2012 fourth quarter, in contrast to $49.6 ...
The National Flood Insurance Program: Past, Present and Future - new class from Academy of Insurance
Midwest

Illinois Market Conduct Exams Bring $10M in Fines

Illinois Department of Insurance (DOI) Director Andrew Boron has announced that more than $10.3 million in market conduct fines was ...

Zacharopoulos to Lead Integro's Chicago Office

Insurance brokerage and risk management firm Integro announced that Thomas Zacharopoulos, managing principal and the firm's market ...

FinSecure Promotes Martin to Assistant VP

FinSecure, a member company of W. R. Berkley Corp., announced that Jon Martin has been promoted to assistant vice president focused on ...
Southeast

Florida Lawmakers Unveil Property Reform Proposals

Florida lawmakers' first draft of a property reform emphasizes depopulating and diverting policies from Citizens Property Insurance Corp., ...

Mississippi Insurance Chief Wants State-Run Health Exchange, Not Partnership

After blocking Mississippi's proposal for a state-run health insurance exchange because of divisions among state leaders on the plan, ...

Swett & Crawford Acquires Southern Hospitality Underwriters of Georgia

In an expansion of its specialized program business, Swett & Crawford has acquired the assets of Griffin, Georgia -based Southern ...

Florida Court Sides with Bank in Key Mortgage Liability Case

Florida's highest court has ruled a homeowner cannot re-open a voluntarily dismissed foreclosure case despite allegations that the bank ...

Mississippi Court Stands by Ruling on Pre-Need Funeral Policies

The Mississippi Supreme Court has declined to hear more appeals in a pre-need funeral services contracts dispute between two Oxford funeral ...
South Central

Farmers Insurance Pulling Out of Louisiana

Farmers Insurance Exchange, which has around 23,000 homeowner and 7,000 auto policies in Louisiana, is dropping those lines of business in ...

Emails Show Change in Oklahoma Health Exchange Policy

A 2011 decision by Oklahoma's insurance commissioner to return a federal health care grant came just days after a prominent conservative ...

Roussell Joins Mullis Newby Hurst as VP, Construction Marketing

Addison, Texas-based Mullis Newby Hurst LP (MNH), which specializes in construction insurance and surety bonds, has hired Raleigh Roussell ...

Oklahoma Agents Group on Workers' Comp Reform: Wait-and-See

Workers' compensation reform is certain to be an issue during the 2013 legislative session in Oklahoma and it is a major concern for the ...
West

Scientists Back EPA on Montana Asbestos Risks

Federal officials anticipate finishing by late 2014 a risk study to guide the cleanup of an asbestos-contaminated Montana mining town, ...

Study: Agriculture Plays Important Role in Utah Economy

Agriculture continues to play an important role in Utah's economy, according to a Utah State University study. The study found that when ...

Arch to Acquire Interests in California Firm From Bankrupt PMI

Arch Capital Group Ltd., through its U.S.-based subsidiaries (Arch U.S. MI), will acquire all outstanding equity interests in San ...

EPIC Adds Northern California Benefits Consultant Haley

Edgewood Partners Insurance Center named Jennifer Haley as an employee benefits consultant in its Northern California employee benefits ...
Los Angeles Westin Bonaventure Hotel. March 7th 2013. Click here for more information.
International

Arbitrators Press Ecuador to Halt Chevron Judgment Enforcement

An international tribunal weighing in on Chevron Corp's long-running legal dispute over pollution in Ecuador has found the country in ...

New MGA Ascent Underwriting Launched in London; Targets Emerging Cyber Risks

Ascent Underwriting, a specialist Managing General Agent (MGA) providing coverage for emerging cyber risks, has been launched in London, ...

IAG Updates Loss Estimates from Australia's Floods and Fires

Insurance Australia Group's Australia Direct and CGU businesses announced that they have "so far received over 13,700 claims arising from ...

PartnerRe Reports $111.5 Million Q4 Net Income; FY 2012 $1.1345 Billion

Bermuda-based PartnerRe Ltd. reported net income of $111.5 million, or $1.56 per share for the fourth quarter of 2012. The figure includes ...

Montpelier Re Reports $27 Million Q4 Net Loss; FY 2012 Net Income of $214 Million

Bermuda-based Montpelier Re Holdings Ltd. reported an operating loss for the fourth quarter of 2012 of $0.31 per common share ($17 million) ...

Best Affirms Beazley's Lloyd's Syndicates Ratings ; Downgrades Holding Co. ICR

A.M. Best Europe - Rating Services Limited has affirmed the financial strength ratings (FSR) of 'A' (Excellent) and issuer credit ratings ...

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North Carolina Home (Insurance) Improvement: Commissioner Goodwin

Recently re-elected North Carolina Insurance Commissioner Wayne Goodwin welcomes his expanded...
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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

Farmers vs. Independent
Posted: Sat Feb 9 -- I have a similar question. I am an independent agent working under a broker. I do not see this as a long term arrangement at all, but as an... gretchman77
1st Year as a Producer Stories
Posted: Thu Feb 7 -- Right on Sac thank you. The "Trusted Advisor" is what I am seeking to be. californiadude
Credit Card Processing
Posted: Wed Feb 6 -- You may want to look at SQUARE... beyert1
New independent agency
Posted: Wed Feb 6 -- Hello James, Congratulations on your new agency! I wish you great success! My names is Doris Gonzalez and I represent QQ Solutions. We... heretohelp
CPCU 500 HELP!
Posted: Tue Feb 5 -- I took the CPCU 500 in March of 2012, which is the new "500" - the old one was the "510". If you have a sign-on at "the institutes" they... gdsmack
QuickBooks
Posted: Tue Feb 5 -- I realize this is an old thread but I have yet to find a good way to book direct bill in Quickbooks. I'm thinking of switching to Applied or... DBL Surety
Laws on where an office can be?
Posted: Mon Feb 4 -- Ok thanks was just worried about it being considered a controlled business JamesMcwhorter

Reader Comments

Government's Case Against S&P: Ratings Stopped Making Sense
Posted: Wed Feb 6 -- Hey, S&P? Remember that report you wrote slamming actuaries in 2003 called "Insurance Actuaries-A Crisis of Credibility"? Huh? Remember... An Actuary
South Dakota House Passes Bill on Arming Teachers
Posted: Mon Feb 4 -- This ought to be good. So now we can do fundraisers for bullets instead of classroom materials because the funding ran out. Plus, now the... CalDude
Family Sues Company Over Minnesota Office Attack
Posted: Tue Feb 5 -- Ahhh, yes.....the OTHER side of the Americans With Disability Act (ADA). If this obviously mentally ill person WASN'T hired because of his... Scott
Republicans to Block Obama Consumer Financial Bureau Chief
Posted: Mon Feb 4 -- "But the senators said "common sense reforms" are needed before they will confirm anyone to lead the bureau." Do any of our elected... P/L Underwriter
N.J. Gov. Christie Says Fed Flood Insurance Program Is a 'Disgrace'
Posted: Wed Feb 6 -- What you did hear from the Northeast as a "Yes" when asked if federal aid should be sent to Florida, Georgia, Alabama, Mississippi,... Center Point

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February 11, 2013
Current Issue
Nonprofits, Social Services & Schools; Errors & Omissions; Business Auto & Repair: Commercial Auto, Gas Stations, Service Stations, Garagekeepers Liability, Tire Dealers & New / Used Car Dealers; Bonus: The Florida Issue (Special Supplement)

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