Daily Headlines: Monday, June 3, 2013

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June 3, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National East, Gulf Coast Insured Properties Top $10 Trillion: AIR The estimated insured value of residential and commercial properties in just the coastal counties of the U.S. East and Gulf Coast states ... Property Crime Down, Violent Crime Up in 2012: FBI The nation experienced a 1.2 percent increase in the number of violent crimes and a 0.8 percent decline in the number of property crimes in ... Recent Wrecks Belie Railroads' Safety Record It's easy to think the railroads are unsafe when there are pictures of burning, derailed cars on the nightly news. But the nation's ... Saying 'I Do' to Wedding Insurance Last year, Natalia Esparra, then 34 and a new bride, learned that something had gone wrong with her photographer's memory card and that all ... Best Affirms Mitsui Sumitomo's U.S. Subs Ratings; Upgrades Aioi Nissay U.S. In conjunction with its affirmation of the parent company, A.M. Best Co. has also affirmed the financial strength rating (FSR) of 'A+' ... Best Affirms MAPFRE USA and Group Members Ratings; Outlook Negative A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit rating (ICR) of "a" of the members of ... Ratings Recap: Iron Horse, Dallas National, Armed Forces, Sooner, Hartford Mutual, Philadelphia Contributionship A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating of "a+" of Vermont-based Iron Horse ... Canada's Fairfax to Buy American Safety in $306 Million Cash Deal Fairfax Financial Holdings Ltd., a Canadian insurer, agreed to buy American Safety Insurance Holdings Ltd. for $306 million in an all-cash ... Travelers Adds Special Expense Coverage to Public Entity Policies Travelers has enhanced its public entity management liability (PEML) policy that provides limited special expenses coverage reimbursement ... How Women Can Rise to Executive Level in P/C Insurance Industry Networking is the single biggest thing women can do to facilitate their rise up the corporate ladder in the property/casualty insurance ... Eqecat Agrees to Share Exposure Data Schemas With RMS Catastrophe modeling firm Eqecat announced that it has finalized an agreement to share exposure data schemas with another major ... Travelers Launches OnDemand Risk Control Service for Commercial Clients The Travelers Insurance Cos. has launched an interactive, on demand service for property and casualty insureds looking to manage and... Nonorganic Growth Strategies: Building Niches With Lift-Outs & Bolt-Ons You are the president or CEO of almost any size property-casualty company. You have just met with your board... More National News East N.Y. Reaches Reform Agreements With 4 Additional 'Force-Placed' Insurers New York officials announced that the state's "force-placed" insurance reforms will now cover 100 percent of the New York market after the ... Connecticut's Anti-Distracted Driving Bills Progress Two bills aimed at combating distracted driving are progressing through the Connecticut General Assembly. The House of Representatives last ... Pentecostal Bishop in Philadelphia Charged With Insurance Fraud A Philadelphia bishop has been charged with insurance fraud related to water damage that his Pentecostal church sustained. State ... Philadelphia Insurance Hires 2 Underwriting Vice Presidents Philadelphia Insurance Companies announced the hiring of Ziad Kubursi as senior vice president of specialty lines and Karen Votta as vice ... No Guns for Some Pennsylvania Police, Radar Guns That Is Jeff Streeter, chief of the Lone Tree Police Department in Colorado, was surprised to learn of a longtime tradition followed by local ... More East News Midwest Weather Service Confirms St. Louis-Area Tornadoes Portions of suburban St. Louis waged a soggy cleanup effort on June 1 after severe storms unleashed an outbreak of tornadoes across the ... Tuit Joins Michigan-Based Acrisure as CFO Caledonia, Mich.-based retail insurance brokerage, Acrisure LLC, announced that Dave Tuit has joined the firm as chief financial officer. ... Lincoln, Nebraska Flood-Control Project Gets a Workout Lincoln, Neb.'s Antelope Valley flood-control project got a workout with recent heavy rains, but diverted water as it was designed to do, ... Vanliner Insurance Launches New Captive for Moving, Storage Companies Vanliner Insurance Co., based in Fenton, Mo., has introduced Move-CAP, an alternative risk transfer (ART) insurance program developed ... More Midwest News Southeast Hurricane Season and Florida's Insurance System: Living on Borrowed Time? Mother Nature has been kind to Florida's coastline lately with a record run of seven years without a hurricane making landfall, allowing ... Florida Alleged Insurance Fraud Leader Found Competent for Trial The alleged leader of an $800 million South Florida insurance fraud scheme has been found competent to stand trial despite severe pain from ... Environmental Groups Sue Landowners Over Mountaintop Mining in West Virginia Environmental activists say three reclaimed mountaintop removal mining sites are still polluting West Virginia waterways, and they're suing ... More Southeast News South Central Texas Governor: Storm Insurance Special Session Possibility Gov. Rick Perry has said he may add reshaping the troubled Texas Windstorm Insurance Association to a special legislative session he's ... Amarillo Hailstorm Damage Estimated at $400M A massive hailstorm that blanketed the Texas panhandle city of Amarillo on May 28 is proving costly. An estimated 35,000 vehicles and ... Oklahoma Tornadoes Take 13 Lives Including 3 Storm Chasers Three storm chasers were among 13 people killed by tornadoes that rampaged through central Oklahoma on Friday, underscoring the high risk ... 22K Insurance Claims Filed After May 19, 20 Oklahoma Tornadoes The Oklahoma Insurance Department says more than 22,000 claims have been filed for property and vehicles damaged by tornadoes that struck ... More South Central News West Insurers Sue Over Southern California School Abuse Settlement Seven insurers have sued the Los Angeles school district to avoid paying a $30 million settlement to 58 alleged victims of child abuse at ... Southern California Wildfire Containment Doubles Overnight Firefighters working in darkness doubled containment of a massive wildfire north of Los Angeles to 40 percent overnight, as cool, moist air ... Nevada Governor Signs Law On Driver Privilege Card A bill allowing people in the country illegally to obtain driving privilege cards in Nevada was signed into law Friday by Republican Gov. ... IMO: Virtual Trade Shows Will Catch On I imagined that during my first virtual trade show I'd sort of feel like the sci-fi movie character Tron, mesmerized and captive in some ... Report: California Workers' Comp Insurers Return on Worth Up California workers' compensation insurers' average return on net worth increased for the second year in a row in 2011, according to the ... Cochrane Acquires Prowest In California Spokane, Wash.-based Cochrane & Company, a western-regional surplus lines brokerage and managing general agent, has acquired Prowest ... More West News International Tokyo Prepares for a 1-in-200-Year Flood to Top Sandy Tokyo, the world's most populated metropolis, is building defenses for the possibility of a flood in the next 200 years that could dwarf ... China Orders Probe Into Deadliest Plant Fire Since 2000 China's President Xi Jinping ordered an investigation into the cause of a fire at a poultry plant in northeastern China that killed at ... Germany, Czech Republic Brace for more Flooding after Heavy Rains Heavy rainfall swelled already full rivers in southern and eastern Germany on Saturday, prompting authorities to reinforce flood defenses ... Cyber Security Threats Pose 'Stealthy, Insidious' Danger - U.S. Defense Chief Defense Secretary Chuck Hagel said on Friday that cyber threats posed a "quiet, stealthy, insidious" danger to the United States and other ... Willis' Faber Global Exec Notes Decrease in UK Facultative Reinsurance Buys Several large UK cedants are reducing their spending on facultative reinsurance, according to the view taken by Vanessa Macdonald-Smith, ... China to Study Possibility of Joining U.S-Led Trade Talks China will study the possibility of joining the Trans-Pacific Partnership (TPP) trade talks, the Commerce Ministry said on Thursday, ... Best Affirms Mitsui Sumitomo Ratings; Upgrades Aioi Nissay Dowa A.M. Best Asia-Pacific Limited has affirmed the financial strength rating (FSR) of 'A+' (Superior) and the issuer credit rating (ICR) of ... More International News Sponsored Content NetRate Systems Introduces Value-Add Modules to Commercial Auto Rating Product Okemos, MI, 6/3/13 - NetRate Systems, Inc., a leading supplier of ISO® Commercial Lines Rating software for the MGA and carrier ... More Sponsored Content Join the Insurance Journal Network Insurance Journal TV The Good and the Bad: Healthcare Reform and Medical Liability The Patient's Protection and Affordable Care Act (ACA) has very little to do with the medical... Watch Now Changes in Underwriting Medical Professional Liability The United States is undergoing a massive transition -- and that's healthcare reform, says... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Standard Non-Compete Posted: Mon Jun 3 -- Most non-compete agreements in California don't hold water. You might want to check with legal council first on both the validity and... Big Dog QuickBooks Posted: Mon Jun 3 -- I've been thinking about using quick books for my agency. Can anyone comment on how well it works for managing payroll (1099 and W-2). shiftins Workers Comp TX Oilfield Service Contractor Posted: Sat Jun 1 -- try mike davis at Accident Insurance Services, Inc. ... johnbclinton 24 Hour CA Restaurant Posted: Fri May 31 -- Farmers will write it. I know that is not what you want to hear but I can do it for you if you wish. justthere 1st Year as a Producer Stories Posted: Wed May 29 -- Rainmaker, thank you for the advice. I am 9 months in so far and excited to hit year 2 soon. For me, the hardest part of being a new... californiadude Insurance agencies for sale ? Posted: Mon May 27 -- Yikes - call Marsh Berry or Dowling Hales. Rainmaker Non compete lawsuit Posted: Mon May 27 -- I've moved three books as a producer from a small agency, to a regional, to a global. I've also run practice groups and was a Regional CEO... Rainmaker CPCU - Advice Posted: Mon May 27 -- Perfect...bears repeating: "In the interest of full disclosure, I work for the Institutes (American Institute for... Rainmaker Go to Forums Reader Comments Judge Allows Mississippi Liability Suit Over Underage Drinker to Proceed Posted: Tue May 28 -- There's no possibility he had a fake ID? Can they prove whether he was served at the bar or became intoxicated at the Condo? Did anyone... Whodathunkit? Paterno Family Sues NCAA Over Penn State's Sandusky Fine Posted: Fri May 31 -- "Paterno's name and reputation have been damaged by the allegations." There is no way Joe PA had no knowledge whatsoever of how Sandusky... PSU Grad Mississippi Man Run Over by Lawnmower Sues Manufacturer Posted: Wed May 29 -- something is missing here...if he bought it two months before the accident switch must have been altered. I'm betting any manufacturer of... UW Mixed Reaction in Georgia to Push to Lower DUI Limit Posted: Thu May 30 -- ""We are not prohibitionist. We are not interested in eliminating drinking," Martin said." Like heck they aren't. If I recall, even... ExciteBiker Mississippi Homeowners Renew Lawsuit Against Exxon Over Alligators Posted: Fri May 31 -- No comment. I ain't seen the paperwork as yet. As for 84+ of us on one piece of property, heck, 35 acres is a lot of wiggle room. Give us a... Al E. 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