Daily Headlines: Wednesday, October 30, 2013

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October 30, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Rusbuldt on McKinsey 3: Don't Ignore Trends Favoring Independent Agents Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America - the Big "I"- takes issue with a McKinsey ... Obama Administration Under Fire for Individual Health Policy Cancellations President Barack Obama's advisers deliberately crafted his signature healthcare law to fulfill his oft-repeated promise: those who like ... Liberty Mutual Q3 Up 3.4% to $481M; Core Underwriting Results Improved Liberty Mutual Holding Co. Inc. today reported net income of $481 million for its 2013 third quarter, a 3.4 percent jump from $465 million ... Risk Managers: Loss of TRIA Would Limit, Possibly End, Terrorism Coverage A majority of risk professionals believe expiration of the federal terrorism reinsurance program would result in a decrease of affordable ... ISO Launches Standardized Motorcycle Program for Personal Lines Insurers ISO has filings underway for its new standardized motorcycle program. The program consists of forms, rules, and loss costs tailored to fit ... Insurers Rated on Customer Satisfaction with Auto Claims: J.D. Power Customer satisfaction with auto insurance claims handling is improving, due in large part to insurers' improvements in managing the first ... Markets-in-Motion: Sports & Entertainment Arenas The 650,000 square foot Honda Event Center in Anaheim Calif. holds thousands of people at any given time, creating... PCI Buzz: Reinsurers Target Regional Carriers as Alternative Capital Lures National Accounts Regional and super-regional carriers may start getting more attention from reinsurers in advance of 1/1/2014 renewals, a... More National News East Nightclub Insurer Founder Fights Delaware Regulator Over Seizure Indemnity Insurance Corp., which insures nightclubs, is at the center of a legal tug of war between its founder and the Delaware insurance ... Insurance Company Pays $16K to Vermont Auto Customers Vermont's Department of Financial Regulation says a Wisconsin-based insurance company has paid nearly $16,000 in restitution to Vermont ... Hundreds Still Displaced by Sandy Damage in Connecticut A year after Superstorm Sandy drove Deborah Dinan from her Milford, Connecticut, home, she lives above a loud bar and is often reduced to ... Sandy Survivors Recall Challenges of Past Year The trauma inflicted by Superstorm Sandy's fierce floodwaters was etched on the faces of many homeowners Tuesday, a year after the storm ... New York Creating Gas Reserve to Prevent Shortages During Emergencies New York Gov. Andrew Cuomo says New York is creating the nation's first state gasoline reserve to prevent shortages during emergencies. ... 1 Year After Sandy, N.J. Urges Consumers to Stay Vigilant About Insurance Fraud One year after Superstorm Sandy struck the state, New Jersey Department of Banking and Insurance (DOBI) Commissioner Ken Kobylowski is ... More East News Midwest Good Alignment Between All Parties Benefits Agency Buyout Situation: A majority partner wants to sell the agency; the rest of the partners don't. What to do? Gaylon Brown and his partners had that ... Roundstone Management Welcomes New Regional Sales Managers Westlake, Ohio-based Roundstone Management Ltd., which focuses on the alternative risk market, added three new regional sales managers. ... 5 CAA Members Elected to Kansas Agent Association Leadership Positions Combined Agents of America LLC (CAA), based in Austin, Texas, announced that five of its members/agents were elected to leadership ... More Midwest News Southeast Florida to Report on Effect of Reinsurance Savings on Homeowners' Rates Florida Chief Financial Officer Jeff Atwater wants to know why home insurers are not passing along to insureds apparent savings they are ... More Charges Possible Over North Carolina Stare Fair Injuries A ride that jolted into motion at the North Carolina State Fair, injuring five, had been intentionally tampered with to bypass critical ... Florida Agent Charged with Forging Forms for Mitigation Credits Florida Chief Financial Officer Jeff Atwater announced the arrest of Leon Mobley, 45, a licensed insurance agent in Wellington, for ... Brightway Insurance Opens First North Carolina Store The retail insurance franchise Brightway Insurance has opened its first store in North Carolina. Dimitri Apostle, the new owner, Apostle ... More Southeast News South Central The Ins and Outs of Buying and Selling Insurance Agencies Buyer demand for available independent agencies is greater than the supply and it's been that way for years, according to Rick Bondurant, ... Oklahoma Commissioner Encourages Homeowners to Purchase Earthquake Insurance Oklahoma Insurance Commissioner John D. Doak is encouraging Oklahomans to purchase earthquake insurance after a new report predicts ... CPro Associates Adds Morris, Arsenault in Dallas Brokerage Unit CPro Associates, a Dallas- based surplus lines wholesaler and managing general agency, has expanded its brokerage department with the ... Ex-Texas Chemical Firm Exec Gets Prison for Worker Death A federal judge has sentenced the former president of a Port Arthur, Texas, chemical company to one year in prison for occupational safety ... More South Central News West Hergesell Joins Barney & Barney in Southern California Todd Hergesell has joined Barney & Barney LLC in Aliso Viejo, Calif. Hergesell will work with a team of professionals offering commercial ... Jury Awards $150M In Southern California Wrongful Death Case A jury has awarded more than $150 million in damages to a 13-year-old girl who watched her family burn to death in a fiery crash on a ... IICF, Sesame Workshop Featured on Katie Couric Show The Insurance Industry Charitable Foundation and Sesame Workshop, the nonprofit organization behind Sesame Street, will be featured on the ... More West News International UPDATE: AIR Worldwide Reports on European Windstorm Christian Catastrophe modeling firm AIR Worldwide continued its analysis of Windstorm "Christian," which smashed into southern Britain Monday, ... Munich Re Stresses Need for Nat Cat Coverage in Emerging Markets According to a scientific study conducted by the University of Würzburg on the basis of loss data from Munich Re's NatCatSERVICE database, ... Best Revises XL's Issuer P&C Credit Rating Outlook to Positive; Affirms Ratings A.M. Best Co. has revised the outlook for the issuer credit rating (ICR) to positive from stable as well as affirmed the financial strength ... ACE Bermuda Launches New CODA Premier D&O Policy ACE Bermuda has launched a new CODA Premier directors and officers liability policy. The CODA Premier policy offers personal asset ... More International News Insurance Journal Blogs UK Market Offers Hints on How Insurers May Treat E-Cigarettes For several years now now, a lot of people involved with insurance--me included --have been puzzling out the ways that new tobacco products ... More Blogs Join the Insurance Journal Network Insurance Journal TV A World With or Without TRIA Since the creation of the federal terrorism reinsurance program in 2002 until now the market... Watch Now Aon Benfield's Adam Podlaha Explains Cat Models - and More Insurance Journal's Charles Boyle interviewed three specialists from Aon Benfield's... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums 7 day insurance policy Posted: Tue Oct 29 -- Justin, Unfortunately, that program is exclusive to LA Insurance. If you really want access to it, you could access it by becoming an LA... PiP becoming appointed Posted: Tue Oct 29 -- Try an Aggregator/Cluster group. By joining you get instant access to preferred markets, higher commissions and contingency opportunities... PiP Travelers reducing commissions Posted: Tue Oct 29 -- It's not an 8% cut, it's actually a 20% cut: 15% x .80 = 12%. Despite the cut, many agents will think it's great... Pathwayinsurance New Insurance Agency Posted: Tue Oct 29 -- It is very difficult to get an appointment as a new agency...we were only able to do so because I was one of the top performing captive... Pathwayinsurance It can happen to us too Posted: Tue Oct 29 -- We also had a claim, not theft related but our water heater burst in our office causing much damage. We tell... Pathwayinsurance Erie Insurance, feedback please. Posted: Tue Oct 29 -- Hey guys, Thanks for the tips, advice, and feedback. I did speak with an Erie agent, he loves the company. But he only receives 10%... Pathwayinsurance Contractor in Ca-Need GL Posted: Mon Oct 28 -- Your first post and it's to a 3.5yr old thread . . . . Classic . . . PS - You're not an insurance company. We are as... yoyowordup New Phone Line System Help Posted: Mon Oct 28 -- As someone who has been on the traditional PBX system, to VOIP (to another VOIP) and then finally moved back to a traditional PBX. I was on... Smalltownagent SCUBA Dive Shop Posted: Thu Oct 24 -- If you're still having difficulty placing this account I would contact Bliss and Glennon. They helped me place several Yacht cleaners... Shagster121261 Go to Forums Reader Comments Idaho Lawsuit Is Latest Claim Against Remington Posted: Mon Oct 28 -- basic principle of firearm use/handling: never point it in any direction that might cause injury should it misfire. why would he have been... bob Arkansas Judge OKs Class-Action Status in Marlboro Lights Suit Posted: Thu Oct 24 -- Let me preface that I am an ex-smoker but still think that people have the right to smoke if they want. I am sick and tired of tobacco... WyomingAgent Bipartisan Deal Reached to Delay Flood Insurance Premium Hikes: Waters Posted: Mon Oct 28 -- I am still laughing. Where are all my capitalistic, market crazy Republican friends who should be insisting the rates be market rates, no... JohnS Why McKinsey's Prediction of Demise of Independent Agents Is 'Dead Wrong' Posted: Mon Oct 28 -- On the contrary, I begged for the last five years to get appointments with preferred carriers with no avail, but out of the blue in the last... Not a member of te Big "I" Alabama Couple Sues Kentucky Motel Owners for $5M Over Illness Posted: Mon Oct 28 -- Yet another blatant example of throwing a high number in the air in the hopes the motel's carrier will settle for less. How in the hell did... 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