Daily Headlines: Friday, March 15, 2013

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March 15, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National More Clients Buying, Increasing Cyber Insurance: Marsh More companies are buying cyber insurance to protect their organizations from the financial consequences of a data breach or cyber attack, ... Washington Could Take Over More State Health Exchanges The U.S. government could have to run more state health insurance exchanges than expected under President Barack Obama's healthcare law, if ... SEC Testing 'Customized' Punishments The U.S. Securities and Exchange Commission is experimenting with punishments that more closely fit the wrongdoing at issue in a bid to ... AIG Names Cummings as Vice President, Controller American International Group Inc. has named Don Cummings as vice president and controller. He will assume responsibilities for the global ... USDA Suspends Some Ag Reports Due to Budget Cuts The U.S. Department of Agriculture's statistical arm said it won't issue some agricultural reports this year because of automatic federal ... Starr Aviation Launches Online Airport Quoting System Starr Aviation, a division of Starr Indemnity & Liability Co., has launched an online airport quoting system via its secure broker portal, ... The Hanover, OMS National Offer P/C Program to OMS Surgeons The Hanover Insurance Group has joined forces with OMS National Insurance Co., RRG (OMSNIC) to offer a program of  property/casualty ... RAA: U.S. Reinsurers Had Higher Profits, Improved Underwriting Results in 2012 The Reinsurance Association of America (RAA) said a group of 19 U.S.-based property/casualty reinsurers reported higher net written premiums and net income ... Agents Needed to Navigate Addiction Rehab Facilities Through Healthcare Reform The medical community's recognition of addiction as a disease has changed the way providers diagnose and treat the condition. As a result,... Earnings Management Persists; Sarbox Has No Impact On P/C Reserving The Sarbanes-Oxley (SOX) Act, implemented in 2002, came in response to a wave of corporate scandals, such as Enron and... More National News East FEMA: $2.7B Paid Out in New Jersey Flood Insurance Claims Post-Sandy The Federal Emergency Management Agency says it has made $2.7 billion in flood insurance payments to New Jersey claimants since Superstorm ... NYC Council Tightens Safety Rules for Post-Sandy Home Elevation Work The New York City Council has approved new safety rules and procedures this week concerning the city residents' home elevation projects ... New Jersey Advocates Criticize Gov. Christie's Post-Sandy Plan An affordable housing advocacy group said Wednesday that New Jersey Gov. Chris Christie has done a good job of describing the problems ... GEICO Appoints AVP to Lead PIP Staff Counsel Operation in New York GEICO, a Chevy Chase, Md.-headquartered auto insurance unit of Berkshire Hathaway, said Richard Solowan has been named assistant vice ... More East News Midwest Iowa County Settles Lawsuits Over Strip Searches Woodbury County officials in northwest Iowa have decided to pay three women a total of $385,000 to settle their lawsuits over strip ... Ohio Metal Stamping Plant Hit with 21 OSHA Citations The federal Occupational Safety and Health Administration says it has issued 21 health and safety citations against a northern Ohio metal ... Columbia Insurance Group Promotes DeVore to Branch Manager Columbia Insurance Group (CIG) has promoted Shelly DeVore to branch manager of the Columbia, Mo., branch office location. DeVore has served ... More Midwest News Southeast Court Upholds Florida Sinkhole Insurance Loss Rule A Florida court has upheld a decision by state insurance regulators that property insurers must offer sinkhole loss coverage in an amount ... West Virginia Bill Would Yank License of Drivers Refusing Blood Test Under legislation debated this week, West Virginia drivers could have their licenses revoked for refusing to take a blood test after ... Tennessee Senate Panel Advances Seat Belt Fine Increase A proposal that would increase the fine for not wearing a seat belt by $40 is advancing in the Tennessee Senate. The measure sponsored by ... South Carolina Judge Throws Out DUI Over Police 'Blow Hard' Order A defense lawyer says a ruling by a Columbia city judge could affect driving under the influence cases across South Carolina. The judge ... More Southeast News South Central Increase in Oklahoma Mobile Home Parks Ups Tornado Vulnerability A new report from Lloyd's of London found that a growing number of Oklahomans are becoming increasing vulnerable to tornadoes, according to ... Texas Lawmaker Scolds Insurance Industry over Coastal Coverage A state senator in Texas is taking the insurance industry to task for what he perceives as its disinterest in coming up with new approaches ... The Woodlands Financial Group Has a Focus on Growth Richard "Gordy" Bunch, president and CEO of The Woodlands Financial Group, readily concedes that starting a personal lines-focused ... More South Central News West GJ Sullivan Co. Acquires Network E&S Insurance Brokers' California Book G.J. Sullivan Company Excess & Surplus Lines Brokers has acquired Network E&S Insurance Brokers' book of California business. David Gorin ... Fireman's Fund Names VPs of Programs and Professional Liability NOVATO, Calif.-based Fireman's Fund Insurance Co. named Jay Dipasupil to vice president of programs, and Dan Reed to vice president of ... California Senator Proposes 4 a.m Last Call for Alcohol Last call at California restaurants, bars and nightclubs could come later under legislation proposed by a state senator from San Francisco. ... California Judge Overturns Verdict to 'Price Is Right' Model A judge has overturned an $8.5 million verdict awarded to a former "Price is Right" model in a pregnancy discrimination case and ruled a ... New Mexico Drunken Driver Explains Suit Against Friend, Restaurants A Santa Fe, N.M. man convicted of a fatal 2010 drunken-driving accident says his filing a lawsuit against two restaurants and a drinking ... More West News International British Insurers' Proposals Target Whiplash Claims Anyone claiming whiplash injury should be required to undergo examination by an accredited medical expert under proposals being pushed by ... Credit Suisse to Pay $400 Million to Settle U.S. Bond Lawsuits Credit Suisse Group AG has agreed to pay at least $400 million to settle lawsuits by investors over the Swiss bank's role in raising money ... More International News Join the Insurance Journal Network Insurance Journal TV Gordy Bunch on Growth at The Woodlands Financial Group Richard "Gordy" Bunch, president and CEO of The Woodlands Financial Group, readily concedes... Watch Now Cost of Disaster Relief: IBHS CEO Rochman Why does it seem easier for society and, in particular, government to respond by spending lots... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums What is your biggest pain as an agent? Posted: Fri Mar 15 -- "Re: What is your biggest pain as an agent? by Pathwayinsurance >> Thu Mar 07, 2013 8:21 pm Did... Pathwayinsurance Online Competition Posted: Fri Mar 15 -- "Insurance companies are paying... Pathwayinsurance Astonish Results or Squid Posted: Fri Mar 15 -- "This is a website that we launched within the last few months for an agency... Pathwayinsurance Arizona broker fees Posted: Fri Mar 15 -- Where can I find information on a retail agent charging a broker fee on commercial non admitted policies? Is there a disclosure for to sign?... goinsurance 500k cargo endorsement Delaware Posted: Tue Mar 12 -- Does anyone have a market for oversize units hauling construction equipment? I need a 500k cargo endorsement to satisfy a contract. DIG2013 Trailer Interchange 75k Delaware Posted: Tue Mar 12 -- Does anyone have a market for $75k in trailer interchange coverage, and $250k cargo coverage that would include the insured hauling 3 -5... DIG2013 Farmers vs. Independent Posted: Tue Mar 12 -- I don't mean to nitpick, but you do NOT need to have producers under you in order to 'own' an agency. Successful ownership is in the eye of... sacman Surety Bonds Posted: Tue Mar 12 -- We are a surety bond only brokerage/agency, so bonds are our only business. When assisting clients, what factors help you decide from whom... MNeschke Non compete lawsuit Posted: Mon Mar 11 -- See an attorney. 25 miles is a little bogus but so is the fact he only 3 commissions...it would be better if he had got no compensation,... OldIndyAgent Go to Forums Reader Comments Greenberg Doubles Claims in AIG Bailout Suit vs. U.S. to $55 Billion Posted: Wed Mar 13 -- Greenberg & AIG CAUSED the crisis! They peddled collateral default swaps - which they sold to banks & brokerage houses as insurance on the... SacFlood Mississippi House Revives Guns in School Proposal Posted: Thu Mar 14 -- Moore, a small government Republican, thinks it would be just great to have the government put trained snipers at all schools to 'protect'... ExciteBiker AIG Shareholders Gain Class Action Status in Greenberg's Bailout Suit Posted: Tue Mar 12 -- Why oh why could we not have let this POS company and their greedy POS shareholders fail and go out of business? This whole narrative... Dave Montana Panel Hears Wrongful Birth, Life Bill Posted: Wed Mar 13 -- Wrongful birth claim? There is something seriously wrong with that phrase. Always Amazed MetLife Moving 2,600 Jobs to North Carolina from Northeast, California Posted: Tue Mar 12 -- >The new jobs, paying average salaries of nearly $82,000 a year, would include product management, marketing, sales and customer support... 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