Monday, February 25, 2013

Daily Headlines: Monday, February 25, 2013

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Insurance Journal Daily Headlines
February 25, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Long-Awaited BP Oil Spill Trial Begins; No Deal Yet

BP executives more focused on cost-cutting and oil production than safety should be held responsible for the Deepwater Horizon disaster in ...

How Agents Help Nonprofits in Hard Times

Still struggling through the recession, the last thing the nonprofit sector needed is the negative publicity generated by Jerry Sandusky ...

Rate Cap for Older Insureds to Mean Higher Health Insurance Costs for Younger

The Obama administration on Friday finalized new consumer safeguards for health insurance that impose tighter restrictions on what insurers ...

Best Affirms American Financial, Most Subs Ratings; Upgrades Mid-Continent

A.M. Best Co. has affirmed the issuer credit rating (ICR) of "bbb+" and all debt ratings of American Financial Group, Inc. (AFG), as well ...

Ratings Recap: Nat'l. Interstate, Best Meridian, SC Farm, Fireman's Fund La.

A.M. Best Co. has affirmed the issuer credit rating (ICR) of "bbb+" of National Interstate Corporation (NATL), as well as the financial ...

MarketScout Wholesale Launches E&O Program for Independent Agents

MarketScout Wholesale (MSW) has formed an exclusive independent agents errors & omissions program.  In addition to professional ...

U.S., Gulf States Considering $16 Billion BP Oil Spill Deal: WSJ

The U.S. government and Gulf Coast states are considering offering BP Plc a deal under which it pays $16 billion to settle civil suits ...

Wells Media Launches 'Carrier Management' For P/C Insurance Executives

Without a single headline referring to a hardening property/casualty insurance market, Wells Media Group has launched a new ...
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East

N.Y. Insurers 'Report Cards' Show 70% of Sandy Claims Closed With Payment So Far

The New York regulators' latest Sandy response report cards show 272,878 Sandy-related claims -- representing 70 percent of some 389,801 ...

XL, Fisker Reach Settlement Over Sandy-Damaged Cars at N.J. Port

XL Insurance America Inc. and Fisker Automotive Inc. reached an agreement last week over an insurance dispute involving hundreds of hybrid ...

Commentary: Must Winter Storms Have Their Own Names?

The creeping acceptance of a mercenary scheme to name winter storms is not among the most important things in the news, or even the ...

New Jersey's Consolidated Insurance Agents Hires Field Sales Manager

Consolidated Insurance Agents LLC, a network of independently owned and operated insurance agencies in New Jersey, hired Jocelyn Rineer as ...
Midwest

Illinois Firms Must Verify License, Insurance Status of Temp Agencies

The state of Illinois is reminding businesses using temporary workers that it is their responsibility to check whether those temp agencies ...

State Farm: No Plans to Move Illinois Headquarters

State Farm Insurance Co. says it isn't moving its headquarters from Bloomington, despite recent media reports that the Illinois-based ...

Risk of Minor Flooding Along Souris River This Spring

The risk of minor flooding at various points along the Souris River in North Dakota this spring is slightly greater than normal, the ...

Minnesota Jury Awards $4.7 Million in Ship Lawsuit

A Duluth, Minn., dock company owes nearly $4.7 million for repairs and lost profits to the owner of a coal freighter that partially sunk in ...
Southeast

Sout Carolina Soldier Sues Over Mortgage Insurance Rate

An Army sergeant based in South Carolina has filed a federal lawsuit accusing a mortgage company of not obeying a law that requires limits ...

Alabama Court System Endangered by Budget Woes, Says Chief Justice

Alabama's new chief justice, Roy Moore, said the state judicial system is in danger and conditions will worsen if the Legislature approves ...

Georgia Considers Electronic Auto Insurance Card

Georgia drivers would be able to have an electronic version of their car insurance card under a proposal that has cleared the state House ...

Florida Surplus Lines Association Names New Executive Director

The Florida Surplus Lines Association said it has named Larry Bodkin as its new executive director. Bodkin currently is president and CEO ...
South Central

Texas Mutual: Woman Sentenced in Workers' Comp Fraud Scheme

Texas Mutual Insurance Co. announced that Barbara A. Douglas of Denton pleaded no contest to felony workers' compensation fraud-related ...

Month, Year Less Deadly for Oklahoma Drivers

The Oklahoma Department of Public Safety says fewer people were killed in auto accidents in January than the same month last year and the ...

Deadline Extended for Isaac Flood Insurance Claims

Louisiana property owners with flood insurance policies whose homes or other structures were damaged during Hurricane Isaac have an ...

Three Small Earthquakes Recorded in North-Central Arkansas

The U.S. Geological Survey reports three earthquakes in Arkansas - including a magnitude 3.9 quake near Trumann. No injuries or damage are ...
West

Report: Athletes Cash In On California Workers' Comp

California's workers' compensation system has awarded millions of dollars in benefits for job-related injuries to thousands of professional ...

Attorneys In Montana Asbestos Settlement Seek $4M In Fees

Attorneys for asbestos victims in a Montana mining town are seeking more than $4 million in fees and expenses out of a legal settlement ...

Capital Names Chatterton Vice President in Central California

Monterey, Calif.-based-Capital Insurance Group named Arne Chatterton vice president of field operations and business relations. The ...

Six Leaking Tanks Are Washington Nuclear Site's Latest Woe

Federal and state officials say six underground tanks holding a brew of radioactive and toxic waste are leaking at the country's most ...

$8.5 Million Awarded In California Boy's Death

A Fresno County jury has awarded $8.5 million in a lawsuit alleging county social workers failed to protect a 10-year-old boy who was ...

California Best Buy Stores Must Pay $875K In Pricing Suit

A Riverside County judge has ordered Best Buy Stores to pay nearly $900,000 and to institute a special discount program to settle a lawsuit ...
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International

Commentary: The Near Impossible Battle against Hackers Everywhere

Dire warnings from Washington about a "cyber Pearl Harbor" envision a single surprise strike from a formidable enemy that could destroy ...

BrokersLink Chairman: 'Independent Brokers Can Become Global Powerhouses'

Speaking at the 1st Asia Insurance Brokers' Summit in Singapore, José Fonseca, Chairman of BrokersLink and CEO of the MDS Group, told ...

Gunther Saacke Appointed CEO of Doha-based Q-Re

Q-Re's Board of Directors announced the appointment of Gunther Saacke as the reinsurer's new CEO, leading "a team of senior and well-known ...
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Insurance Journal Blogs

Good News Now, Question Marks Later, for Fla. Citizens

Coming on the heels of a major deal that transferred 31,000 coastal policies and $30 billion in gross exposure to private start-up Weston ...

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Insurance Journal TV

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Markel Specialist Talks Nonprofits

Nonprofits were hit hard by the economy, and now face ongoing public perception issues thanks...
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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

1st Year as a Producer Stories
Posted: Mon Feb 25 -- Hi California dude - I posted your question to IJ's LinkedIn group and got a slew of great responses. I hope they help!... lnguyen
Best mgmt system for small agency
Posted: Sat Feb 23 -- James re: management systems. You should at least look at the new system from quikfuzion.com . Perfect for small agencies, completely cloud... jtmgolf00
Online Competition
Posted: Fri Feb 22 -- Independent agents have been fighting this for years. In the old days only Independent agents had Progressive. We built them up to make them... yoyowordup
Co-Insured & Additional Insured Definition
Posted: Fri Feb 22 -- Co-insured Doctrine - look it on Google Legal Scholar. It concerns, for example, an apartment house or a condominium association which... webgirl
What marketing efforts are generating business?
Posted: Thu Feb 21 -- Our LinkedIn group has a lively discussion on... Josh
Need Comp in Ca
Posted: Tue Feb 19 -- I'd recommend trying Arrowhead General and see which of their markets is best... Shagster1261
Farmers vs. Independent
Posted: Mon Feb 18 -- I was a Farmers Agent (FIG) for 22 years - I was terminated about 4 years ago. I was profitable for all but about 3 years when we had large... William Graham
Internet Cafe
Posted: Thu Feb 14 -- What state? We are writing a number of these and using Penn-Star Ins Co. and other carriers. ... INTLXS

Reader Comments

Catholic Bishops Urge Birth Control Reprieve in Fiscal Bills
Posted: Tue Feb 19 -- In order to mitigate risk, the Catholic Church should be more concerned about better risk management of its pedophile priests that have... insurance102
World Trade Center Developer Challenges Airline's 'Act of War' Defense for 9/11 Attacks
Posted: Wed Feb 20 -- As long as Mr. Silverstein accepts responsibility for all of the damage and illness caused by his buildings after they fell. Seems reasonable
Administration Issues Final Rule on Minimum Benefits Under Obamacare
Posted: Thu Feb 21 -- No one wants to deprive mental patients and those already ill of needed medical services, but by adding 62 million of them to the healthcare... Rusty
Medical Don'ts: Doctors Identify Unnecessary, Harmful Tests, Treatments
Posted: Thu Feb 21 -- I am convinced that many doctors practice defensive medicine due to fear of Malpractice claims. Tort Reform was not put into Obamacare as it... Agent
Michigan to Issue Driver's Licenses to Illegal Immigrants
Posted: Wed Feb 20 -- So.....if the person is illegal, we're giving them drivers licenses? Shouldn't we be packing them up and sending them home? Just don't get... TooLongInInsurance

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February 25, 2013
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Hospitality Risks Directory; Homeowners & Auto; Public Entities

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