Daily Headlines: Tuesday, March 26, 2013

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March 26, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Bankers to Be Held Personally Liable for Sanctions Violations: U.S. Treasury The U.S. Treasury Department plans to hold bankers personally responsible and subject them to fines when their banks help countries such as ... Q&A: Congressional Politics and Prospects for Terrorism Insurance Renewal The Terrorism Risk Insurance Act, which was initially enacted in 2002, and amended by the Terrorism Risk Insurance Revision and Extension ... Evacuation Saved Lives, Says Transocean Deepwater Horizon Safety Officer The officer in charge of safety on Transocean's Deepwater Horizon drilling rig, destroyed in a BP well accident that caused the worst-ever ... SEC Approves Nasdaq Deal for Facebook IPO But Lawsuits Could Follow U.S. regulators approved Nasdaq OMX Group's $62 million compensation plan for firms that lost money in Facebook Inc.'s glitch-ridden market ... Congressmen Renew Push for Tougher Federal Mine Safety Laws With five coal mining fatalities in West Virginia so far this year, Democratic U.S. Rep. Nick Rahall is renewing his push for tougher ... ACE Launches Borderless International Pollution Liability Coverage ACE USA, the U.S.-based retail operations of the ACE Group, has introduced a foreign casualty pollution liability coverage endorsement. ... Transportation Intermediaries Association to offer CargoNet Services Verisk Crime Analytics has formed an agreement between its CargoNet division and the Transportation Intermediaries Association (TIA) to ... ISO Commercial Property Changes - Part 3 - Altered Existing Endorsements The commercial property changes presented in ISO's filing begin taking effect on April 1, 2013 (effective dates differ by state). This... 17 P/C Insolvencies, Only One Cat-Driven In 2012: A.M. Best Only one of 17 property/casualty insurance carriers that became financially impaired in 2012 suffered its impairment as... More National News East NYC Sandy Home Repair Program Wraps Up After Fixing 20K Homes A novel endeavor to make flooded homes habitable after Superstorm Sandy is wrapping up after repairs to more than 20,000 houses and ... Connecticut's Gun Liability Insurance Bill Withdrawn After Hearing Connecticut's recently proposed bill that would require firearm owners to maintain excess personal liability insurance and self defense ... Scottsdale Insurance Agrees to Pay $1M to Fired Pennsylvania County Employees A group of northeast Pennsylvania county workers will share a $1 million settlement that will end five years of federal litigation over ... Aon Risk Solutions Names COO for Greater New York Region Aon Risk Solutions, the global risk management business of Aon plc, announced the promotion of Matthew Schneider as chief operating officer ... More East News Midwest Outlook for National Fire and Indemnity Exchange Revised to Negative A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A- (Excellent) and issuer ... Ohio Chiropractor Sentenced for $33K Attempted Insurance Fraud Ohio Lieutenant Governor and Insurance Director Mary Taylor announced that Boardman, Ohio chiropractor David Esarco has been sentenced for ... Erhart Promoted to Corporate VP at Great American Insurance Group Great American Insurance Group, based in Cincinnati, Ohio, has promoted Sue Erhart to corporate vice president of its property and casualty ... More Midwest News Southeast Kentucky Lawmakers May Override Governor's Veto of Religious Rights Bill Gov. Steve Beshear has vetoed a bill that was intended to provide stronger protections of religious rights in Kentucky, setting the stage ... Florida Skydivers' Deaths Under Investigation Two skydivers from Iceland who died during weekend jumps at a popular southwest Florida camp did not deploy their main parachutes, the ... Georgia Supreme Court Upholds Driver's License Law Georgia's highest court has rejected a Mexican national's argument that part of a state law that requires a Georgia-issued driver's license ... South Carolina Cites 300 Firms for Illegal Workers South Carolina officials have cited more than 300 businesses for immigrant worker violations. The State newspaper reported that state labor ... More Southeast News South Central Texas Windstorm Insurer Board: No Receivership at This Time Numerous representatives from Texas coastal counties, cities and business organizations on March 25 spoke before the board of the state's ... More than 500 to Guide Arkansas Residents on Health Insurance Options Come summer, at least 535 trained guides will start fanning out across Arkansas, knocking on doors, setting up folding chairs in community ... Louisiana's St. Bernard Parish Gets $10M to Elevate Homes St. Bernard Parish officials say the suburban New Orleans community has $10 million in federal grants available to help residents elevate ... More South Central News West Jury Awards $3.5M To Alaska Man Wrongfully Fired A 76-year-old Alaska man has won a wrongful termination lawsuit against a company that fired him in 2008. An Anchorage jury awarded $3.5 ... Acura Recalling TSX Sedans for Corrosion Honda Motor Co.'s luxury Acura brand is recalling 76,000 TSX sedans in America because corrosion could cause them to stall in cold weather. ... Ex-Montana Workers Claim Hostility, Sex For Favors Former Montana Disaster and Emergency Services employees claim the division's chief of staff traded sex for favoritism with a subordinate, ... More West News International France Threatens to Delay Quick Start of EU-U.S. Trade Talks France threatened on Monday to delay the swift start of EU-U.S. trade talks if its red lines on culture and farm produce are not respected. ... London Maintains Top Position in Latest Global Financial Centers Index According to the latest survey, conducted by the Financial Center Futures team at the London based Z/Yen Group, London, New York, Hong Kong ... AXA in Exclusive Deal to Sell Stake in Private Equity Division France's AXA Group announced that its asset management subsidiary, AXA Investment Managers (AXA IM), has received an irrevocable offer from ... Willis Re Makes Management Changes in Australian Operation Willis Group Holdings, the global risk advisor and insurance broker, has announced important changes to the leadership team at Willis Re ... Gen Re Names Flitcroft Marketing Manager for P/C Treaty in Australia, NZ Gen Re announced the appointment of Andrew Flitcroft as Marketing Manager for the Property/Casualty Treaty business in Australia and New ... PartnerRe Ltd. Establishes New Companion Facility, Lorenz Re PartnerRe Ltd. has formed Lorenz Re Ltd., a special purpose insurer domiciled in Bermuda. Lorenz Re was capitalized with $75 million ... Last Ditch Cyprus Bank Deal Brings Little Relief; Much Uncertainty At a Cypriot pawnbroker, one of the few growth industries in Europe's debt-ridden south, someone had vented the anger of an island: ... More International News Insurance Journal Blogs FIGA Reforms Should Increase Flexibility, Not Eliminate It When it comes to property insurance reform in Florida, everyone is basically focused on proposals that deal with the Florida Hurricane ... More Blogs Join the Insurance Journal Network Insurance Journal TV Greenberg's View: First Job, Corporate Culture Maurice "Hank" Greenberg helped build American International Group into the world's largest... Watch Now D&O Trends: Keeping Eye on Securities Litigation There have been a lot of changes in the world of securities litigation. Insurance Journal... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Smart Choice or Superior Access Posted: Tue Mar 26 -- i don't have an answer for any of the post here today but just want to share my experience with Smart Choice. i have a new agency and signed... robert Arizona broker fees Posted: Mon Mar 25 -- If the Wholesale Broker / MGA is making the filing (regardless of the retail agent having a SL license), then my information was correct. If... AZagent AI request on form 126 - where do you Posted: Fri Mar 22 -- Either of those works, but also put it in the hazards (class code & rate) section with Addl Ins BF so if they see it on the rating portion... FurriePrincess What is your biggest pain as an agent? Posted: Tue Mar 19 -- Silly requests on COI's from people who think they know what they are doing. Examples: Requiring a 2/4 GL limit, nothing else, when insured... kevinraz Insurance agencies for sale ? Posted: Mon Mar 18 -- I've got an idea or two. First, contact your broker who handles your E&O agency policy...they're going to know first when an agency is ready... d's insurance store Insurance directories?? Posted: Sun Mar 17 -- I agree the BBB is a great directory to use and it will provide a boast to the rankings Google applies to your site. The more trusted the... BestCarCoverage Astonish Results or Squid Posted: Fri Mar 15 -- NYagent301- I'm also a 24 year veteran industry professional...while its true everyone is Entitled to their personal opinion, and It's true... Pathwayinsurance Online Competition Posted: Fri Mar 15 -- "I believe you are incorrect in your assumption. Clients do want value. You just need To take steps to educate them on why they need value.... Robert742 Go to Forums Reader Comments Lobbyists Keep Battling As Obamacare Turns 3 Posted: Mon Mar 25 -- There has never been a bill passed in Congress in the history of the country that has had as much negatively said about it after this much... Agent Florida Gov. Scott, Insurers Vow Fight to Save PIP Law After Injunction Posted: Fri Mar 22 -- Just do away with this outdated coverage. Create reasonable mandatory bodily injury liability limits. Make UIM/UM a mandatory coverage with... TN Insurance Claim-Padding OK with 24% of Americans: Survey Posted: Wed Mar 20 -- T, We see the evidence of insurance fraud every day. Professional claimants abound. Everything from staged auto accidents, slips and falls... Agent Buffett's Salary Unchanged After 25 Years Posted: Wed Mar 20 -- Personally, when the level of wealth of the Buffetts of the world is reached, it's not about how much a man "has" as how much he "controls".... phoenix Mississippi House Revives Guns in School Proposal Posted: Tue Mar 19 -- "House Education Committee Chairman John Moore, R-Brandon, said the carnage of the Newtown, Conn., school shooting could have been prevented... insurance is fun! 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