Tuesday, February 26, 2013

Daily Headlines: Tuesday, February 26, 2013

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Insurance Journal Daily Headlines
February 26, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

U.S Comptroller Defends Settlements with Banks, Hits Critics

A top U.S. bank regulator on Tuesday offered a lengthy defense of entering into settlements with banks, taking a swipe at critics who have ...

Opening Arguments in BP Oil Spill Trial Seek to Assess Blame

A long-awaited trial over the biggest U.S. offshore oil spill began on Monday, with governments, businesses and individuals blaming BP Plc ...

How Process Improvement Drives Agency Profitability

To boost their profitability, agencies make investments all the time in people and technology, as well as in other businesses through ...

Superstorm Sandy Delivers Q4 Blow to Tower Group

More than $80 million of after-tax net losses from Superstorm Sandy drove bottom-line red ink at New York-based Tower Group Inc., which ...

Insurance Employment Firms Jacobson Group, ejsSearch to Merge

The U.S. insurance industry employment firm The Jacobson Group is merging with London-based executive search company ejsSearch, which ...

Strong Growth in U.S. Manufacturing Brings Supply Chain, Other Challenges: Travelers

Manufacturing in the United States is in a growth phase, according to a survey by Travelers Insurance that found nearly three out of four ...

Project CAP Selects EZLynx for Real-Time Pricing on Updated Consumer Site

The independent insurance agents' online service for insurance buyers, Project CAP, has selected EZLynx to be the key real-time rating ...

Trinity Underwriting Managers Announces Commercial Auto Program

Trinity Underwriting Managers, Inc. (TUMI), a Georgia-based program administrator, has expanded its commercial auto capabilities. TUMI has ...

From MyNewMarkets.com Price Stability on the Horizon for Lawyers E&O Class

Claims from the real estate and financial meltdown of 2008 are finally catching up to carriers in the lawyers professional liability...
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East

N.J., N.Y. to Offer Mediation Program for Sandy Claims Disputes

New Jersey Gov. Chris Christie announced Monday his administration's plan to offer a mediation program option to Sandy victims who are in ...

In Virginia, Rural Motorists Lag in Seat Belt Usage

Motorists and passengers in rural Virginia are less likely to wear seat belts than those in other parts of the state, statewide surveys ...

Philadelphia Insurance Names Senior VP of Marketing for Eastern Territory

Philadelphia Insurance Companies, a Bala Cynwyd, Penn.-based property/casualty and professional liability insurance company for niche ...

NYC's South Street Seaport Still a 'Ghost Town' Months after Sandy

The historic cobblestone streets and 19th-century mercantile buildings near the water's edge in lower Manhattan are eerily deserted, a ...

Conn.-Based SPARTA Insurance Promotes Jones to Chief Executive Officer

Hartford, Conn.-based SPARTA Insurance Co. promoted President and Chief Operation Officer Ralph E. Jones, III to chief executive officer. ...
Join us this Thursday - Why Should I Hire You as My Insurance Agent? - new class from Academy of Insurance
Midwest

Missouri Texting While Driving Law Nabs Few Violators

A 2009 Missouri law that bans young drivers from using their cell phones to send text messages has led to few citations and remains ...

USG Insurance Services Expands Palatine, Illinois Office

USG Insurance Services Inc., a national wholesaler and managing general agent, is expanding operations in its Palatine, Ill., branch with ...

Scheider Joins R&R Insurance Services as Commercial Account Executive

R&R Insurance Services Inc. in Waukesha, Wis., has added Dan Scheider as commercial account executive. Scheider comes to R&R with more than ...

Ohio Driver's Licenses Blocked for Some Immigrants

Driver's licenses for some young immigrants who came to the United States illegally are being blocked by Ohio Department of Public Safety ...
Southeast

South Carolina Forest Plan Undergoing Revisions

The U.S. Forest Service is revisiting its plans for managing the sprawling Francis Marion National Forest northeast of Charleston, almost ...

Kentucky Sheriff to Patrol Homes While Owners Away

The Laurel County, Kentucky Sheriff's Office has begun a program to patrol homes where owners are away. WYMT-TV  in Hazard reported the ...

'Devil's Tooth Exorcism' Results in $3.7M Claim Against Tennessee Church

A Tennessee pastor said he cast out a parishioner's demon, but a lawsuit contends that only the plaintiff's tooth was exorcised. According ...

Wholesale Broker All Risks Promotes Thompson in Atlanta

Wholesale insurance broker All Risks Ltd. has promoted Andrew Thompson to senior vice president for brokerage of the Atlanta office. ...
South Central

Will Texas Windstorm Insurer Remain After the Legislative Session?

Texas' property insurer of last resort in coastal counties may have a difficult time remaining intact during the 2013 legislative session. ...

Report: Senate May Reject Texas Insurance Commissioner

Texas Insurance Commissioner Eleanor Kitzman could have trouble winning Senate confirmation to keep her job, as Democrats with enough votes ...

High Winds Tear Through Central Texas

Central Texas was buffeted with winds in excess of 60 mph on Monday and the damage continues to be assessed. Homeowners are urged to ...

Trusted Choice Grants Support Texas Volunteer Fire Departments

The Texas State Fire Marshal's Office announced that Texas independent insurance agents, who operate in their communities under the Trusted ...
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West

RMS Names Dali Chair, Adds Three in Silicon Valley

Risk Management Solutions named Paul Dali chairman of its board of directors. Dali, who is based in Arizona, has been serving as an advisor ...

Court OKs Salmonella Treatment for California Almonds

An appeals court ruled Friday that federal officials have the authority to require that all California almonds be treated for salmonella ...

PG&E Boosts Training After Deaths Of 3 California Workers

Officials at Pacific Gas and Electric Co. are boosting the utility's training on safety procedures after the deaths of three workers in ...
International

Australia's Main Iron Ore Port Braces for Direct Tropical Cyclone Hit

A powerful tropical cyclone is on course for a "direct hit" on Australia's Port Hedland, which handles a fifth of the world's ...

Australia's QBE Profits Reduced by Higher Claims; Cuts Dividend

QBE Insurance, Australia's biggest insurer, posted a lower-than-expected 8 percent rise in full-year net profit due to high claims for ...

Zurich Places Subordinated Notes of $1.032 Billion

Zurich announced the successful placement of €788 million [$1.032 billion] of dated subordinated notes, maturing in October 2043 and ...

Busher to Retire from Montpelier Re Posts

Bermuda-based Montpelier Re Holdings Ltd. announced that Deputy Chairman, Executive Vice President and Chief Operating Officer Tom Busher ...

Ratings Recap: Marble Re, Victoria

A.M. Best Asia-Pacific Limited has assigned a financial strength rating of 'A'- (Excellent) and issuer credit rating of "a-" to Marble ...
Join us this Thursday - Why Should I Hire You as My Insurance Agent? - new class from Academy of Insurance

Insurance Journal Blogs

Getting Physical at the Office

Some readers may remember a blog I wrote last year about how creativity and having fun are important keys for the success of your marketing ...

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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

Online Competition
Posted: Tue Feb 26 -- d's ins store, great response! On that thought, do you think the days are numbered for us IA's? I think we can all agree that IA's will... lonestar
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
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

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
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
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
Rate Cap for Older Insureds to Mean Higher Health Insurance Costs for Younger
Posted: Mon Feb 25 -- Yes Dave, rates are already skyrocketing across the country. For one thing, companies know they have to accept the PreX crowd and all their... 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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