Daily Headlines: Wednesday, July 24, 2013

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July 24, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Investors See Travelers' Cuts in Auto as Sign Rate Hikes Have Peaked Travelers Cos.. Inc. said it would cut jobs and reduce prices of auto insurance, steps investors took as an indication that rates had risen ... S&P: 'Systemically Important' Designations Could Trigger Restructurings of Global Insurers New requirements that will be imposed on insurers that the Group of 20's Financial Stability Board has designated to be global systemically ... Lance Armstrong Seeks Dismissal of False Claims Lawsuit Lance Armstrong, the former champion cyclist, asked a judge to throw out a lawsuit claiming he defrauded the U.S. by using banned ... One-Third Fail to Activate Theft Prevention Measures on Their Homes Almost of a third of American homeowners who have anti-theft devices on their homes don't use them -- even during the summer when burglars ... Insurance Journal Co-Sponsors MarshBerry Market & Financial Survey How are agencies targeting new business today? What do agencies want most from carriers? And just how much are agencies growing in current ... Liberty International Underwriters Names Fusner Senior VP of Primary Casualty Liberty International Underwriters (LIU), part of Liberty Mutual Insurance, said Kelly Fusner has been appointed senior vice president of ... AIR Worldwide Promotes Churney to Chief Operating Officer Catastrophe modeling firm AIR Worldwide promoted Bill Churney to the newly-created position of chief operating officer. Based in AIR's ... LIU, CloudInsure Tackle Cloud Computing Coverage Gaps A new insurance partnership between Liberty International Underwriters and CyberRiskPartners' CloudInsure will provide insurance backing... The Curious Case Of Bad Math & Why It Does Not Matter I have recently been reminded of some of the nonsensical insurance idiosyncrasies that veterans of the industry take for... More National News East Southwest Crash at New York's LaGuardia Airport Triggers Probe by NTSB The U.S. National Transportation Safety Board began a formal investigation into the Southwest Airlines Co. accident Monday at New York's ... Maryland Insurance Administration Issues First-Ever Civil Fraud Orders The Maryland Insurance Administration on Tuesday issued its first administrative orders under newly granted authority to pursue civil cases ... Connecticut Gov. Malloy: State's Sandy Relief Plan Earns Federal Approval Connecticut Gov. Dannel P. Malloy announced the U.S. Department of Housing and Urban Development (HUD) has approved the state's action plan ... NCAA Asks Judge to Toss Paterno Suit Over Sandusky Fine The National Collegiate Athletic Association asked a judge to dismiss a lawsuit by Joe Paterno's family challenging penalties levied ... Integro Appoints Principal in Boston Office New York-based insurance brokerage and risk management firm Integro announced the hiring of James M. Sheehan as a principal in its Boston ... More East News Midwest Kansas Fire Marshal Pushing for Stronger Explosives Regulations The Kansas Fire Marshal is drawing fire for his efforts to reinstate oversight of the explosive industry in the state. The fire marshal ... Wells Fargo Insurance Names Paulnock Managing Director in Minnesota Wells Fargo Insurance, part of Wells Fargo & Co., named Jason Paulnock senior vice president and managing director for its Minnesota ... Iowa Court: Lawyer May Be Sued for Emotional Pain The Iowa Supreme Court said a couple from Ecuador may sue their attorney for emotional distress because his advice caused them to be ... Buffett Attends Opening of New Indiana Geico Insurance Center Billionaire investor Warren Buffett joined in a ceremony that marked the opening of a new customer service center for the Geico insurance ... More Midwest News Southeast Florida Supreme Court Rules Replacement Cost Includes Contractor's Profit Florida's high court has ruled that insurers under a 2008 law must pay a contractor's overhead and profit as part of the expense of ... Alabama Mayor Proposes Towing Uninsured Vehicles Montgomery, Alabama Mayor Todd Strange said he plans to propose an ordinance to give police authority to tow vehicles belonging to ... West Virginia Workers' Compensation Loss Cost Rate Falls for 9th Straight Year Workers' compensation loss costs are going down in West Virginia for the ninth consecutive year since the market was privatized. The ... More Southeast News South Central Six Flags Roller-Coaster Had Previous Injuries; $1M in Liability Coverage Nearly a dozen people reported being injured in the last five years while riding the Texas roller coaster from which a woman fell to her ... Oklahoma House Dem Leader: Tort Reform Special Session 'Waste of Time' Getting Oklahoma lawmakers to return for a special session to address a civil lawsuit bill ruled unconstitutional by the courts is a "waste ... Flood Insurance an Issue in Louisiana's U.S. Senate Race U.S. Sen. Mary Landrieu and her Senate race challenger, U.S. Rep. Bill Cassidy, are jockeying for credit and prominence on a high-profile ... Oklahoma Agency Working to Reduce Earthquake Risks The Oklahoma Geological Survey has begun work on plans to reduce the risk of oil-field work involving injection wells that some believe may ... 6 Plead Guilty in Louisiana Auto Accident Insurance Fraud Scheme Six defendants in a case involving an automobile accident insurance fraud scheme in Louisiana have pleaded guilty, U.S. Attorney Stephanie ... More South Central News West More Quake Studies for Hollywood Skyscrapers Los Angeles officials have asked developers of a massive Hollywood skyscraper project to conduct more studies to determine whether it's ... Colorado Senators Push FEMA for Details On Wildfire Mitigation Two senators are pushing the Federal Emergency Management Agency to detail its efforts to mitigate wildfires. Colorado Democrat Michael ... Lawsuit Planned In Fluke Oregon Hospital Fire The family of a Klamath Falls girl who was burned in a fluke fire at Doernbecher Children's Hospital in Oregon has notified officials of ... More West News International Study Concludes Arctic Methane Release Could Cost Economy Trillions A release of methane in the Arctic could speed the melting of sea ice and climate change with a cost to the global economy of up to $60 ... U.S.-Led Trade Talks Gain Heft, Complexity, as Japan Joins Japan joined U.S.-led trade talks on Tuesday, adding its weight to a pact that covers two-fifths of the world economy but raising further ... S&P: G-SII Designation Could Affect Ratings in the Longer Term The longer-term rating implications for insurers that the Group of 20's Financial Stability Board (FSB) has designated global systemically ... ACE Reports $891 Million Q2 Net Income; $1.844 Billion 1st Six Months ACE Limited reported net income for the quarter ended June 30, 2013, of $2.59 per share, compared with $0.96 per share for the same quarter ... Q2 New Non-Life Cat Bond Issues Total $2.1 Billion: Willis Capital Markets "The second quarter of 2013 saw $2.2 billion of non-life catastrophe bonds issued through 14 tranches (representing 10 deals), compared ... Canada Insurer Industrial Alliance Targets C$500 Million Deal for Asset Manager Industrial Alliance Insurance and Financial Services Inc., the best-performing Canadian insurer in the past year, plans to acquire a money ... DriveFactor, Admiral Group to Offer Usage-Based Insurance Throughout UK DriveFactor has partnered with Admiral Group plc to expand usage-based insurance (UBI) offerings throughout the U.K. Through this ... More International News Insurance Journal Blogs Gov. Scott Asks Congressman to Oppose Protectionist Reinsurance Tax Florida Gov. Rick Scott is taking a firm stance against proposals floated in Congress and by the White House that would raise catastrophe ... More Blogs Join the Insurance Journal Network Insurance Journal TV From 3D Printing to Driverless Cars: Emerging Risks on the Horizon New technology is happening all the time, and with that comes new risks, says Graeme Newman,... Watch Now 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 Watch more videos at InsuranceJournal.tv New Discussions in the Forums The Age Old Question-How much to split Posted: Tue Jul 23 -- I'll tell you what. I will let you come into my agency and take it over. Just give me 70% of the commissions and you can run it and have the... gforaker Which form to write D&O coverage on- opinion needed Posted: Tue Jul 23 -- If you had a privately held company (family owned) that owned and operated several nursing homes in a 5 states would you write the D&O on a... ALS Agency Management System Posted: Mon Jul 22 -- We just went live on Applied's Epic management system last Jan. We had been using Vertafore 360 for the last 5 yrs but we had to adjust to... FLCracker Need assistance for job advice please Posted: Mon Jul 22 -- You need first, to get real about the job market in its totality and secondly, in the claims area job prospects in particular. This is no... d's insurance store Met Life Retirement Insurance Posted: Fri Jul 19 -- My experience with Met Life Retirement: After denying a request for a small withdrawal, they contacted my job so they can investigate why I... migueloy1 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 Go to Forums Reader Comments 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 Companies Must Disclose CEO-to-Worker Pay Ratios Under SEC Proposal Posted: Mon Jul 22 -- "Across the Standard & Poor's 500 Index of companies, the average multiple of CEO compensation to that of rank-and-file workers is 204, up... Libby Hobby Lobby Wins Stay Against Birth Control Mandate Posted: Mon Jul 22 -- Yes, I've heard of them and why is that any different than using any other form of birth control??? Are you against birth control or not???... Libby Insurers, Republicans Part Ways Over Global Warming Posted: Mon Jul 22 -- Agent: The fossil fuels emissions numbers are about 100 times bigger than even the maximum estimated volcanic CO2 fluxes. Counter claims... Libby Treasury Secretary Lew Urges Congress Not to Change Dodd-Frank Reforms Posted: Wed Jul 17 -- Good one Lou. I wonder if Treasury is going to crack down on insider trading by Congressmen and Senators. That has been going on a long time... 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