Daily Headlines: Friday, July 19, 2013

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July 19, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Companies Must Disclose CEO-to-Worker Pay Ratios Under SEC Proposal Public companies would be required to disclose how much more their chief executives are paid than rank-and-file workers under a rule to be ... Industry Told TRIA Won't Be Renewed Until 2014 The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or ... Insurers, Republicans Part Ways Over Global Warming The U.S. insurance industry told Senators that a surge in weather-related catastrophes has forced billions of dollars in payouts, offering ... Judge Denies BP Bid to Halt Oil Spill Claim Payments A federal judge denied BP Plc's attempt to suspend payments to people and businesses claiming damages related to the 2010 Gulf of Mexico ... Lance Surety Launches New Program to Meet FMSCA Bond Increase Requirement Lance Surety Bond Associates, Inc. has launched a new program addressing the $75,000 Freight Broker Bond requirement that will take effect ... CEOs, Insurers Finally Ready to Embrace Intellectual Property Insurance? The small yet complicated niche of patent and intellectual property (IP) insurance has seen more interest lately as patent claims rise and... Keeping Up With Emerging Risks Remains A Struggle For P/C Carriers The property/casualty insurance industry depends on lots of data to develop products and price them, making the coverage... More National News East Vermont Rebuts U.S. House Panel on Health Exchange The state of Vermont is telling a U.S. House panel that it has every right to set up a state health insurance marketplace and require ... Va.-Based Andrew Agency Acquires Samuel D. Baughman Insurance Agency The Andrew Agency, an independent insurance agency based in Richmond, Va., announced its acquisition of Samuel D. Baughman Insurance ... Ames & Gough Appoints VP in Virginia Ames & Gough, an insurance broker and risk management consultant serving design professionals, law firms and other professional ... Silverstein Denied Right to Seek $3.5 Billion From Airlines Real estate developer Larry Silverstein was denied the right to seek $3.5 billion from airlines whose planes were hijacked by terrorists ... New York Provides $16M to Some Flooded Upstate Counties The state will provide $16 million to homeowners, business operators and farmers in five of the 12 upstate counties that were declared ... More East News Midwest 44 Community Groups to Tout Insurance Marketplace in Illinois Gov. Pat Quinn says $27 million in federal funds will be distributed to 44 community organizations that will help educate the public and ... Minnesota Participating in Insurance Climate Change Survey Minnesota has joined California, New York, Connecticut and Washington state in requiring insurers to respond to the Climate Risk Survey ... Sexual-Harassment Suit Costs Ohio Fire Deptment $900K A central Ohio township is going to pay nearly $900,000 to a former firefighter to resolve a sexual-harassment lawsuit. The Columbus ... Travelers' Small Business Risk Education Program Launched in Chicago The Travelers Companies Inc. announced the launch of the Small Business Risk Education (SBRE) program in Chicago to help women and minority ... More Midwest News Southeast After Deadly Crash, Alabama Revisits Safety of Allowing Truck Cargo Bed Riders Alabama politicians said that they would consider drafting legislation to prevent people from riding in the backs of pickup trucks in the ... Tennessee Seminars to Review Workers' Compensation Law Changes The Tennessee Department of Labor and Workforce Development is holding a series of 14 seminars across the state to explain the Workers' ... More Southeast News South Central Insurer Loss Ratios High in Oklahoma After Years of Extreme Storms The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates ... Cobb Honored with ICT's Raymond Mauk Award The Insurance Council of Texas presented Ron Cobb, counsel to the American Insurance Association (AIA), with the Raymond Mauk Leadership ... Hargrove Tapped to Lead New Dallas Branch for All Risks Ltd. Independent insurance wholesaler, All Risks Ltd., announced that Glenn Hargrove and several production teams have joined its organization ... Louisiana Clarifies Insured Loss Estimate from Hurricane Katrina A recent report by financial website Kiplinger rated Louisiana as the most disaster prone state in the nation. News reports on this story ... 2 Dallas Residents Guilty of Medical-Related Fraud Two Dallas residents have pleaded guilty to medical investment-related fraud in what investigators call a $10 million Ponzi scam. Federal ... Sinking Sections of New Orleans Levee Prompt Repair The Army Corps of Engineers is spending $1.3 million to raise about 4,000 feet of earthen levee in easternmost New Orleans that has ... More South Central News West Mitsubishi Blamed In California Nuclear Plant Closure Southern California Edison says it is seeking to hold Mitsubishi Heavy Industries Ltd. and Mitsubishi Nuclear Energy Systems liable for ... $35M Award To 29 Washington Patients For Root Canals More than two dozen Washington patients of a former Seattle-area dentist accused of performing hundreds of unnecessary root canals have ... Wyoming Governor Lambasts EPA Over Haze Plan Gov. Matt Mead sharply criticized a plan by the U.S. Environmental Protection Agency to reduce regional haze, saying it did more to kill ... $10M Settlement Filed In Honolulu Over Marcos Art A $10 million settlement has been filed in federal court in Honolulu over valuable artwork that disappeared from Imelda Marcos' Manhattan ... More West News International G20 to Require Largest Insurers to Hold More Capital from 2019 The largest global insurers will have to hold more capital from 2019 to cover risks they pose to the financial system should they go bust, ... Geneva Association Reacts to G20 Insurers' Capital Mandate The Geneva Association, the international insurance think tank, issued a bulletin following the publication of both the Financial Stability ... Europe Insurer Trade Group Criticizes Listing Companies as GSII's Europe's insurers criticized the approach taken by international regulators which named firms considered systemically important as they try ... ACE Names Sullivan Chairman-Asia Pacific; Ortega, McNamee in New Posts The ACE Group has named Damien Sullivan as chairman of the company's Asia Pacific region. He is currently the region's president. As ... Hill to Lead ACE Group's International Property Business The ACE Group has appointed Jarrod Hill to Executive VP and Head of International Property for ACE's Overseas General business, effective ... Moore Joins Willis Re Specialty Willis Group Holdings announced that it has recruited Graeme Moore to the Specialty division of its reinsurance business, Willis Re. His ... Ratings Roundup: ACE Seguros, SOVAG, Polish Re, CCR (Algeria) A.M. Best Co. has assigned a financial strength rating of 'A' (Excellent) and an issuer credit rating of "a" to ACE Seguros S.A., which is ... More International News Sponsored Content Atlas General Insurance Services Ranked #11 on the San Diego Business Journal's 100 Fastest Growing Private Companies List in 2013 San Diego, CA, 7/19/2013 - Atlas General Insurance Services has been recognized as the 11th fastest growing company on the list of the 100 ... More Sponsored Content Insurance Journal Blogs Burand's Agency E&O Blog: Tip #38 Inflation Factors on Personal Lines Property. Some personal property forms lack automatic inflation adjustments that increase the ... More Blogs Join the Insurance Journal Network Insurance Journal TV Oklahoma Opens Up to Captive Insurers Oklahoma this year will join the ranks of other states that aim to attract and keep captive... Watch Now Geneva Association's Secretary General John Fitzpatrick on Systemic Risks, Nat Cats, ILS and Cyber Risks The Geneva Association's studies and reports are now an important part of the dialogue between... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums The Age Old Question-How much to split Posted: Thu Jul 18 -- Yes, that is pretty weak. So far though, the benefits outweigh the drawbacks. He does not cost me much, and the customers he does have are... yoyowordup Insuring Fabric Structures Posted: Thu Jul 18 -- I wouldn't think any insurance company in their right mind would insure this product for property coverage. The ASU football program had one... yoyowordup Agency Management System Posted: Thu Jul 18 -- Our agency is primarily benefits with a growing P & C department. Any experience with a management system that will handle both? haharem Life Insurance Companies for Independent Agents? Posted: Tue Jul 16 -- Thanks, I think that I am more towards "Brokers Alliance" .They offer decent street level commissions and (apparently) great service, a... manny79 Removing a Named Insured Posted: Fri Jul 12 -- If a partnership, both individuals can be interpreted as first named insured since the two individuals comprise the partnership (assuming... NYagent301 Medical malpractice for all states Posted: Fri Jul 12 -- I can help you with this. How shall I contact you? MedMal Man Applied Underwriters / Equity Comp Posted: Thu Jul 11 -- Does anyone have experience they could share (good or bad) with Applied's Equity Comp product? This would be the standalone WC product for... SFINS National Agents Alliance? Legit or Keep Away? Posted: Wed Jul 10 -- This sounds like a MLM. Did not read every post, but when people who are in the company responds to the question "Is this an MLM?" by saying... ishootfriendlies Insurance Noodle vs. Superior Access vs. Agent Secure Posted: Wed Jul 10 -- I have done research looking for a network/cluster for my agency. We are 4 years old, located in New York City with over $20mm in premium.... mschwartz Go to Forums Reader Comments Lawsuits Could Follow Zimmerman Acquittal Posted: Mon Jul 15 -- Zimmerman should sue NBC for editing out of the 911 tape the part where he said Trayvon is black only after the 911 operator asked. Joan Gard Administration Says Obamacare to Lower Insurance Premiums More Than Forecast Posted: Thu Jul 18 -- Perhaps the President could give Jimmy Hoffa, Jr. a call and reassure him on the union plans. I think good old Jimmy saw the handwriting on... Agent AIG Ex-Chief Greenberg Sues Spitzer for Defamation Posted: Mon Jul 15 -- Dear Hank. Quit tying up the courts with your neuroses. Dear Spitzer: Just stick with the family business (real estate) if they'll have you. D Marsh & McLennan Names Gardner Chief Diversity, Inclusion Officer Posted: Tue Jul 16 -- This is ridiculous. "Executive Sponsor of Gay and Lesbians" She is to "Drive organizational and cultural CHANGE." So, I guess all the high... Reagan Bipartisan Senate Megabank Bill Would Split Banking from Insurance, Other Risks Posted: Fri Jul 12 -- That is a great question Libby. I think it makes perfect sense to reinstate a 21st Century Glass-Steagall Act. Separating the high risk... 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