Friday, February 8, 2013

Daily Headlines: Friday, February 8, 2013

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Insurance Journal Daily Headlines
February 8, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Court Says Trial Must Decide Travelers, Reinsurers Asbestos Case

New York state's highest court on Thursday said a trial must determine whether Travelers Cos. deliberately structured a nearly $1 billion ...

Youth Groups Call for Improved Safety for School Sports

Student athletes need access to health care professionals, better-trained coaches and up-to-date equipment, a coalition of groups ...

U.S., States Weigh Suing Moody's Over Mortgage Ratings

The U.S. Justice Department and multiple states are discussing also suing Moody's Corp. for defrauding investors, according to people ...

Catholic Bishops Reject Obama Compromise on Contraception Coverage

U.S. Roman Catholic bishops on Thursday rejected the Obama Administration's latest bid for compromise over a hotly disputed health policy ...

Ratings Recap: Auto Club (Michigan), Atlas Financial, Merced Mutual, ING US (Notes), PEMCO

A.M. Best Co. has downgraded the financial strength rating (FSR) to 'A-' (Excellent) from 'A' (Excellent) and the issuer credit ratings ...

AIG Survey Shows Top Executives' Concerns with Cyber Risk

A survey of perceptions about cyber risk sponsored by the American International Group Inc. (AIG) found that among corporate executives, ...

Insurance Firm Paying for Super Bowl Kickoff Return by Ravens' Jones

The electrifying 108-yard kickoff return by the Baltimore Ravens' Jacoby Jones that started the second half of the Super Bowl earned some ...

Upton Group Expands to Cover Pizzerias Nationwide

The Upton Group, LLC is expanding its business to cover pizzerias nationwide through PizzaInsurance.com. Previously the company focused on ...

From MyNewMarkets.com U.S. Commercial Insurance Prices to Firm in 2013: Marsh

Rates for commercial lines insurance will continue to rise in 2013 thanks to above average losses, low investment returns and receding...
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East

Northeast Braces for Powerful Blizzard

The northeastern United States braced on Friday morning for a blizzard that could drop up to three feet (nearly one meter) of snow through ...

Maine Regulators Recovered More Than $3M for Consumers in 2012

Maine Insurance Superintendent Eric Cioppa said the state's Bureau of Insurance recovered more than $3 million for Maine consumers in 2012. ...

Aon Risk Solutions Names Resident Managing Director in New Jersey

Aon Risk Solutions, the global risk management business of Aon plc, appointed Peter Hutton as resident managing director in the New Jersey ...
The Insurance Professional's Basic Guide to Risk Management and Insurance, get the book by Christopher J. Boggs
Midwest

Simkins Joins Worldwide Facilities' Chicago Office

Andy Simkins has joined Worldwide Facilities Inc. as vice president in its Chicago office. Reporting to David Fiske, senior vice president, ...

Illinois Officials Warn About Home Warranty Scam

The Illinois Department of Insurance is warning consumers that a Florida-based company is illegally marketing home warranty services to ...

Michigan Governor Calls for Creation of Natural Disaster Fund

Michigan Gov. Rick Snyder is proposing setting aside state funds to use in the case of natural disasters such as forest fires, tornadoes ...
Southeast

Probe Finds Faulty Upkeep at Kentucky Plant Hit by Furnace Blast

A federal agency looking into a deadly chemical plant explosion and fire in Louisville says crucial maintenance was deferred on an electric ...

Alabama Warns Hundreds of Insurers to Register or Face Fine

Hundreds of property/casualty insurance companies have not registered with Alabama regulators as required, prompting the state insurance ...

West Virginia Revises Penalties for Mine Safety Violations

West Virginia regulators have revised a proposed rule that would increase fines for mine safety and health violations. The original ...

Exclusive Interview: North Carolina Commissioner Goodwin on Home, Auto Markets

Recently re-elected North Carolina Insurance Commissioner Wayne Goodwin is more focused on reform of the state's homeowners insurance ...
South Central

Oklahoma Lawmaker Wants Audit of Insurance Department

An Oklahoma state senator wants the governor to request a performance audit of the agency that regulates insurance in that state. Sen. ...

5 New Appointments Bring TWFG Near to 300 Branch Mark

The Woodlands Financial Group, based in The Woodlands, Texas, announced the opening of five new local branches in Texas, California and ...

Dallas-Based Prize Insurer Sues Lance Armstrong for $12M

A Dallas-based firm that specializes in insuring promotions and prizes has filed suit against Lance Armstrong seeking to recoup millions in ...
West

New Mexico House Passes Space Liability Bill

The New Mexico House has unanimously approved a proposal to limit the liability of spacecraft manufacturers and their suppliers in order to ...

ACLU Settles Bias Lawsuit Filed By Southern California Latino Students

A suburban Los Angeles County school district and police department have agreed to revise policies to settle a racial profiling lawsuit ...

Operator At California Nuke Plant Disputes Safety Claim

The utility that runs the troubled San Onofre nuclear power plant on the California coast sharply denied Thursday that it was aware of ...

California Commissioner: $160M in Homeowner's Rate Reductions

An average of a 12.6 percent insurance rate reductions is in store for California homeowners insured with State Farm General Insurance ...

Sentry Names Adams Sales Territory Manager for Northwest

Brandon Adams will be joining Sentry Insurance a Mutual Co.'s national accounts sales team as a territory manager for the Northwest. Adams ...
International

Australia, Indonesia Floods Highlight Aon Benfield's January Cat Report

In its latest monthly Global Catastrophe Recap report Impact Forecasting, the catastrophe model development center of excellence at Aon ...

Catlin Group's $339 Million 2012 Profit Less than Forecast as Sandy Loss Widens

Bermuda-based insurer Catlin said its profit fell short of analysts' forecasts because of a bigger than expected claims bill from ...

Beazley Posts Strong Growth; Pretax 2012 Profits $251.2 Million

Beazley plc announced strong growth for the year 2012. Highlights of its recently released earnings report include the following: *Profit ...

Lockton Expands Australia Operation with Melbourne Broker Acquisition

Lockton announced that it has expanded its operations on Australia's East Coast with the acquisition of niche insurance brokerage firm ...

XL Group Posts $81.4 Million Q4 Net Income; $651.1 Million Full Year

XL Group plc reported robust results for both the fourth quarter of 2012, and for the full year. The earnings highlights were listed as ...

Aspen Insurance Holdings Makes Director and Management Changes

Bermuda-based Aspen Insurance Holdings Limited has announced a number of directorate and management changes. "Julian Cusack has decided ...

Best Affirms Validus' 'A' Ratings; Outlook Stable

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit rating (ICR) of "a" of Validus Reinsurance, ...
Why Should I Hire You as My Insurance Agent? - new class from Academy of Insurance

Insurance Journal Blogs

Words of Advice for Valentine's Day

If you celebrate Valentine's Day and your celebration spills into your workplace, here are a few words of advice: Remember those simple ...

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North Carolina Home (Insurance) Improvement: Commissioner Goodwin

Recently re-elected North Carolina Insurance Commissioner Wayne Goodwin welcomes his expanded...
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Effects of Worldwide Economic Instability on American Companies

Despite a slightly improved economy here in the U.S., the global economy is not out of the...

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New Discussions in the Forums

Farmers vs. Independent
Posted: Thu Feb 7 -- Following are a couple of links to review the contracts. Not sure why your DM won't show you a copy of something that is readily available... sacman
Best mgmt system for small agency
Posted: Thu Feb 7 -- Hello James, My names is Doris Gonzalez and I represent QQ Solutions. We provide the best value in agency management systems. There are no... heretohelp
1st Year as a Producer Stories
Posted: Thu Feb 7 -- Right on Sac thank you. The "Trusted Advisor" is what I am seeking to be. californiadude
Credit Card Processing
Posted: Wed Feb 6 -- You may want to look at SQUARE... beyert1
CPCU 500 HELP!
Posted: Tue Feb 5 -- I took the CPCU 500 in March of 2012, which is the new "500" - the old one was the "510". If you have a sign-on at "the institutes" they... gdsmack
QuickBooks
Posted: Tue Feb 5 -- I realize this is an old thread but I have yet to find a good way to book direct bill in Quickbooks. I'm thinking of switching to Applied or... DBL Surety
Laws on where an office can be?
Posted: Mon Feb 4 -- Ok thanks was just worried about it being considered a controlled business JamesMcwhorter

Reader Comments

Government's Case Against S&P: Ratings Stopped Making Sense
Posted: Wed Feb 6 -- Hey, S&P? Remember that report you wrote slamming actuaries in 2003 called "Insurance Actuaries-A Crisis of Credibility"? Huh? Remember... An Actuary
South Dakota House Passes Bill on Arming Teachers
Posted: Mon Feb 4 -- This ought to be good. So now we can do fundraisers for bullets instead of classroom materials because the funding ran out. Plus, now the... CalDude
Family Sues Company Over Minnesota Office Attack
Posted: Tue Feb 5 -- Ahhh, yes.....the OTHER side of the Americans With Disability Act (ADA). If this obviously mentally ill person WASN'T hired because of his... Scott
Republicans to Block Obama Consumer Financial Bureau Chief
Posted: Mon Feb 4 -- "But the senators said "common sense reforms" are needed before they will confirm anyone to lead the bureau." Do any of our elected... P/L Underwriter
Policyholder Education: Agent or Carrier Responsibility?
Posted: Thu Feb 7 -- I think, without regard for E&O or specific legal requirements, it is a shared responsibility of insurers, insurance agents, and insurance... Barry Rabkin

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