Friday, March 29, 2013

Daily Headlines: Friday, March 29, 2013

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Insurance Journal Daily Headlines
March 29, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Supreme Court Case Has Tax, Benefits Implications for Married Gay Couples

If the U.S. Supreme Court strikes down a federal law defining marriage as between a man and woman, the newfound rights for gay married ...

Top 10 Consumer Complaint Categories

The Federal Trade Commission (FTC) has released its top 10 consumer complaint categories for 2012. For the first time ever, the agency ...

Court Nixes IRS Bid to Reinstate Rules for Tax Preparers

The U.S. Internal Revenue Service this week lost a request to prevent the partial shutdown of its tax return preparer regulatory program ...

State Insurance Regulators Renew Pact with Chinese Regulators

U.S. insurance regulators will continue a program of information sharing and cooperation that helps their counterparts in China learn about ...

10 Things to Know About Home and Auto

There are more than 132 million housing units in the United States, more than 80 million of which are detached, single-family homes, and ...

Ratings: Odyssey Re, National Fire, American Safety, N.J. Manufacturers, Blue Whale

A.M. Best Co. has upgraded the issuer credit ratings (ICR) to "a+" from "a" and affirmed the financial strength rating (FSR) of 'A' ...

From MyNewMarkets.com ISO Commercial Property Changes - Part 4 - New Endorsements

The commercial property changes presented in ISO's filing begin taking effect on April 1, 2013 (effective dates differ by state). This...
Carrier Management

TRIA Won't Be Extended, P/C Carrier CEOs Say

Chief executive officers of property/casualty insurance carriers said their companies will still stand ready to provide...
Sponsored by: IMCA. 2013 IMCA Annual Conference Showcase Awards. Philadelphia, PA. June 23-26, 2013. Click here for more information.
East

Pennsylvania's Overall Workers' Comp Rates to Drop 4.01%

Pennsylvania Insurance Commissioner Mike Consedine announced Thursday that a workers' compensation rate reduction will go into effect next ...

Four Insurers to Reimburse Mass. Drivers to Settle Allegations of Overcharges

Four auto insurers have settled allegations that they overcharged Massachusetts consumers relating to auto insurance surcharges that were ...

Lloyd's Sues N.H. Utility Company, Says Electrical Glitch Caused Fire

The insurer for a business at New Hampshire's Hampton Beach has sued a utility, saying a February 2010 fire that destroyed a block of ...
Sponsored by: Carrier Management. Exclusive Interview with Hank Greenberg. The Interview Every Top Insurance Executive Needs To See. Click here for more information.
Midwest

Michigan Drivers to Pay $11 More for Crash-Related Health Care

An insurance board says the annual fee that Michigan drivers pay for some personal injury costs will increase 6 percent to $186 per year ...

New Rules in Place in Michigan for Insurer Use of Credit Information

A series of new laws have taken effect in Michigan that how insurance companies can use a person's credit information. The laws passed last ...

Child Care Provider Liability Law Passes in Nebraska

Lawmakers have passed new insurance requirements for licensed child care providers in Nebraska. Child care services would have to provide ...

Lack of Insurance, Permits Closes Nebraska City Free Bar Shuttle

Two Nebraska City, Neb., men have been told they can't continue to offer free rides to bar patrons until the men get permits and more ...
Buy 1 course, get 2 free at Academy of Insurance Spring Sale!
Southeast

Kentucky Legislature Approves Christians-Only Health Plan Bill

A Christians-only health care plan would be allowed to resume operations in Kentucky under a measure that has passed the Legislature and is ...

Loss from Tennessee Wildfire Estimated at $12 MIllion

Sevier County, Tennessee  authorities estimate the loss in a wildfire earlier this month at about $12 million. The Mountain Press reported ...
South Central

Louisiana Couple Arrested for Possessing $165K in Stolen Vehicles

Louisiana State Police announced that insurance fraud detectives have arrested a Lake Charles couple for charges relating to possession of ...

ImpactWeather: Hurricanes in 2013 Will Be More Severe Than in 2012

Houston-based ImpactWeather predicts that 2013 will bring a series of hurricanes more severe than 2012. In an announcement released by the ...

Ex-New Orleans Policeman Pleads Guilty to Criminal Mischief in Car Crash

A former New Orleans police officer accused last fall of falsifying a police report to cover up an alleged hit-and-run accident in his ...

Questionable Arson Investigation Leads to New Trial for Texas Man

A Texas man convicted of setting a fire that killed his two stepsons was granted a new trial by the state's highest criminal court, which ...
West

UC Irvine to Settle Federal Fraud Claims For $1.2M

UC Irvine has agreed to pay $1.2 million to settle allegations that the Southern California university allowed residents at its medical ...

Hawaii Naturopathic Doctor Sued in Home Birth

A 28-year-old Manoa woman has filed a lawsuit against a Honolulu naturopathic doctor she says acted negligently and caused her son to ...

Proceedings Sought For New Mexico Gas Explosion

New Mexico pipeline safety regulators say New Mexico Gas Co. violated state laws and federal regulations during work that occurred before a ...

ProAssurance, CAP Partner to Offer California Hospitals Liability Protection

ProAssurance Corp., a specialty writer of professional liability insurance, and the Cooperative of American Physicians, Inc. (CAP) are ...
International

History of Bank Runs Shows Capital Limits Can Feed the Fear

When Argentina froze access to bank deposits in December 2001, the popular backlash was so severe its president and his successor had ...

Earthquake Rattles Central Taiwan; Causes Minor Damage: AIR Worldwide

Catastrophe modeling firm AIR Worldwide reports that a "magnitude 6.0 earthquake struck central Taiwan on March 27, 2013, at 10:03 a.m. ...

Best Affirms Fairfax Financial and Subs Ratings; Outlook Stable

A.M. Best Co. has affirmed the issuer credit rating (ICR) of "bbb" and the unsecured debt and preferred equity ratings of Toronto-based ...

Best Sees Alliance Deal with Yapi Kredi Enhancing Business Profile

A.M. Best Europe - Rating Services Limited has commented on the recent announcement from Germany's Allianz SE that it is entering into a ...

Ratings Recap: Ansvar, ARABIA (Jordan), ARABIA (Lebanon), ARABIA (Saudi Arabia), Transmonde

A.M. Best Asia-Pacific Limited has affirmed the financial strength rating of 'A-' (Excellent) and issuer credit rating of "a-" of ...
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Greenberg's View: First Job, 'White Blackbirds,' Corporate Culture

Maurice "Hank" Greenberg helped build American International Group into the world's largest...
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D&O Trends: Keeping Eye on Securities Litigation

There have been a lot of changes in the world of securities litigation. Insurance Journal...

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New Discussions in the Forums

SIAA vs. Cluster?
Posted: Fri Mar 29 -- I'm a 15 year Farmers agent who is looking for an exit strategy and like the sound of some of these companies that pool resources. I've... JZanders
Farmers vs. Independent
Posted: Thu Mar 28 -- hello Friends, I am a new in field with a CA P&C License. Please suggest me the company,where I would start as a entry level or trainee... munda4545
New independent agency
Posted: Wed Mar 27 -- Another good thing to remember when starting a new agency is the workload you are going to have to do on certificates, and having questions... policyspot

Reader Comments

Lobbyists Keep Battling As Obamacare Turns 3
Posted: Mon Mar 25 -- There has never been a bill passed in Congress in the history of the country that has had as much negatively said about it after this much... Agent
Florida Gov. Scott, Insurers Vow Fight to Save PIP Law After Injunction
Posted: Fri Mar 22 -- Just do away with this outdated coverage. Create reasonable mandatory bodily injury liability limits. Make UIM/UM a mandatory coverage with... TN
Insurance Agent Takes Stand on Gay Marriage in Supreme Court Case
Posted: Thu Mar 28 -- Is your young daughter an adult? If yes, and she consents, then we have 2 consenting adults and they should be allowed to get married (enter... Captain Planet
How Obamacare Could Affect P/C Insurance
Posted: Thu Mar 28 -- Sarting to see employers who have 20-50 workers set up new companies (split there employees between two companies) to avoid paying for... TX Agent
Flood Insurance Policyholders Told to Expect Big Premium Hikes
Posted: Thu Mar 28 -- About time, tired of seeing my tax dollars going to New York and New Orleans! If you want to live on the water, you pay for it, not me! I... H Vogel

Current Issue

March 25, 2013
Current Issue
Hot New Markets; High Risk Property; Corporate Profiles - Regional Edition; 2012 Mergers & Acquisitions Summary Report; Quarterly Employee Benefits Brokerage Report

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New Markets Daily: March 29, 2013

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March 29, 2013

Market Announcements

Beer Distributors

We are the program manager for the National Beer Wholesalers Association (NBWA) and currently offer Worker's Compensation, ...
States: All states

Collector Insurance

American Collectors Insurance specializes in insurance for collector vehicles, antique & custom motorcycles, and collectibles such ...
States: All states

Architects, Engineers & Contractors

STARR PRO for Architects, Engineers and Contractors is a comprehensive, innovative program of primary and excess professional ...
States: All states

Firearm Instructors

Property and commercial general liability insurance for firearms dealers, wholesalers, ranges, trap and skeet fields, sporting ...
States: All states

Medical Marijuana Dispensaries

Monarch E&S Insurance Services has a new medical marijuana program available to California & Hawaii agents. This program ...
States: CA, HI

Feature Articles

ISO Commercial Property Changes - Part 4 - New Endorsements

The commercial property changes presented in ISO's filing begin taking effect on April 1, 2013 (effective dates differ by state). This... Read more

ISO Commercial Property Changes - Part 3 - Altered Existing Endorsements

The commercial property changes presented in ISO's filing begin taking effect on April 1, 2013 (effective dates differ by state). This... Read more

ISO Commercial Property Changes - Part 2 - Cause of Loss Form Changes

Insurance Services Office's (ISO's) form and endorsement filing is actually quite fascinating. The commercial property changes presented in... Read more

Latest Forums

8292(warehouse) w.c market in ca.

Insured had 3 years w.c coverage ,Freight Forwarding company in CA. , current coverage expires in a week..Anyone knows the worker's ...
by paul lim on Fri Mar 29, 2013

CA workman's comp

Looking for a market for a e-cig companies workman's comp Class code 4828 , 8017 ,8810 They do some mixing of ...
by williamseide on Thu Mar 28, 2013

Renters Insurance - Dog- Calif

I need an HO-4 with coverage for dog, Pit Bull.
by benkins on Thu Mar 28, 2013

Personal umbrella

am looking for a market for personal umbrellathx AL
by southshore on Thu Mar 28, 2013

Cargo

has a request to cover pharmaceutical cargo for $ 250,000; insured is renting the van for now but will purchase one within the 3 ...
by viviane on Wed Mar 27, 2013

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Thursday, March 28, 2013

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Daily Headlines: Thursday, March 28, 2013

Sponsored by: MyNewMarkets.com. Looking for Trucking Markets? Click here for more information.
Insurance Journal Daily Headlines
March 28, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

How Obamacare Could Affect P/C Insurance

The key changes in federal health care reform remain months away but property/casualty actuaries are already trying to determine what ...

Flood Insurance Policyholders Told to Expect Big Premium Hikes

The head of the Federal Emergency Management Agency said people who buy federal flood insurance need to plan for big rate hikes. FEMA ...

Wal-Mart Considers Entering 'Sharing Economy' with Customer Delivery Plan

Wal-Mart Stores Inc. is considering a radical plan to have store customers deliver packages to online buyers, a new twist on speedier ...

P/C Mergers Down in 2012 But Private Equity Still Favored Brokers: Conning

Amounting to just $4.7 billion in aggregate deal value, the 46 merger and acquisition transactions announced in the property/casualty ...

AIG Adopts Clawback Policy, Employee Incentive Plans

American International Group, the insurer whose government bailout was marked by controversy over executive salaries, on Wednesday said its ...

The Hartford Expands Construction Group

The Hartford has enhanced its Construction Group capabilities by bring together its underwriting, claims management and loss control ...

Supreme Court Deals Another Blow to Class Actions with Comcast Decision

The U.S. Supreme Court on Wednesday ruled in favor of Comcast Corp. in an antitrust case over how much it charged cable TV subscribers, ...

From MyNewMarkets.com ISO Commercial Property Changes - Part 4 - New Endorsements

The commercial property changes presented in ISO's filing begin taking effect on April 1, 2013 (effective dates differ by state). This...
Carrier Management

Broker Exec Sees Price Shoppers Emerging In Bifurcated Casualty Market

The reasoning that carrier executives advance for increased prices of casualty insurance--starting with low interest...
Sponsored by: Carrier Management. Critical Information for P/C Execs and Directors. A special thanks to our sponsor Demotech, Inc. Click here for more information.
East

Report: Massachusetts to See Drop in Medical Claims Costs

Medical claims costs are expected to soar in many states under President Barack Obama's health care overhaul. Massachusetts is an ...

Connecticut Receives $250M in Federal Sandy Aid

Connecticut's governor says more than $250 million in federal assistance has been approved to help people and businesses affected by ...

Hospitality Insurance Announces 3 Senior Appointments in Massachusetts

Hospitality Insurance Group -- a Westborough, Mass.-based insurer offering insurance coverage for bars, restaurants, package stores and ...

Study Shows Medical Claims Cost Increasing in Delaware

A new study says medical claims costs in Delaware will increase by almost 30 percent for individual policies under President Obama's health ...
Sponsored by: Carrier Management. Exclusive Interview with Hank Greenberg. The Interview Every Top Insurance Executive Needs To See. Click here for more information.
Midwest

Few Wisconsin Communities Have Sober Bartender Laws

The eastern Wisconsin city of Neenah is considering an ordinance that would require bartenders to show up for work sober - and ban them ...

A.M. Best: Outlook Negative for Columbia Mutual Insurance Co.

A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of A- (Excellent) and issuer ...

Ohio Woman Sentenced for Workers' Comp Fraud, Owes $88K

An Ohio woman was sentenced on multiple counts after agents with the Ohio Bureau of Workers' Compensation (BWC) captured video of her ...
Buy 1 course, get 2 free at Academy of Insurance Spring Sale!
Southeast

North Carolina Bill Would End Motorcycle Helmet Mandate for Adults

Legislation that would end North Carolina's mandatory helmet law and make it optional for riders age 21 and over won support from the ...

West Virginia Unlikely to Remove Local Guns Laws: Senate President

West Virginia Senate President Jeffrey Kessler says a bill that would eliminate municipal gun restrictions in four cities is unlikely to ...

West Virginia Vote on Seat Belt Law Due Today

West Virginia's House of Delegates is back on track to vote on whether to allow traffic stops for failure to wear a seat belt. Legislation ...
South Central

Louisiana Sinkhole Expands Again

About 25 trees fell into the Assumption Parish, La., sinkhole and officials say a new crack formed Monday night in a well pad south of the ...

Oklahoma Panel Delays Vote on Workers' Comp Reform

A scheduled Oklahoma House committee vote on a Republican-backed plan to overhaul the state's workers' compensation system has been delayed ...

Katrina, Sandy Offer Similar Lessons for Builders

Lessons learned from Hurricane Sandy about how best to limit damage to buildings closely track those of Katrina, a federal engineer said. ...
Sponsored by: Texas Mutual Insurance Company. Stability is a reflection on the agent. Texas Mutual is consistent in all aspects of its business. Click here for more information.
West

Black LAPD Officer Wins $1.2M Discrimination Suit

A black Los Angeles police officer was awarded $1.2 million by a Southern California jury Tuesday for his racial discrimination and ...

Bond Set At $1M Following Idaho Man's 7th DUI Charge

A south-central Idaho man with six previous convictions for driving under the influence has been charged with a seventh after police say he ...

OSHA Fines Nevada Energy $43K After Worker's Death

Federal officials have fined NV Energy $43,000 after investigating a fall that killed a 29-year-old Nevada employee in September. The Las ...

PG&E: Progress On Safety Recommendations at California Plant

More than two and a half years after a pipeline explosion killed eight people in a San Francisco suburb, a Northern California utility said ...

Heffernan Benefits Names Alarcon in Northern California

Heffernan Benefits Advisory Services, a division of Heffernan Insurance Brokers, named Andrea Alarcon to the position of benefits ...
International

Austerity Threatens Europe's Competitive Edge in Infrastructure

Europe's carefully maintained autobahns, high-speed TGV trains and vast network of modern airports have long been the envy of the world. ...

Allianz Seals Deal with Turkey's Yapı Kredi for Insurance Acquisition/Distribution

Germany's Allianz announced that it has reached an agreement with Turkey's Yapı Kredi for a 15-year exclusive distribution agreement and ...

Lloyd's Bounces Back from 2011 Loss: Posts $4.517 Billion 2012 Profit

Lloyd's announced an overall profit of $4.517 billion for 2012, making the $800 million loss in 2011, the costliest year on record for ...

Swiss Re Settles Dispute with Berkshire Hathaway over Life Retrocession

Swiss Re announced that it has reached a settlement of a dispute with Berkshire Hathaway over a life retrocession agreement, concluded in ...

Ratings Recap: Takaful Int'l., Malayan Insurance

A.M. Best Europe - Rating Services Limited has assigned a financial strength rating of 'B++' (Good) and an issuer credit rating of "bbb" to ...
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Insurance Journal Blogs

North Carolina's 'Other' Auto Insurance Market

I've already covered in these pages some of the things the editorial pages of North Carolina's leading newspapers are getting wrong about ...

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Greenberg's View: First Job, 'White Blackbirds,' Corporate Culture

Maurice "Hank" Greenberg helped build American International Group into the world's largest...
Video thumbnail

D&O Trends: Keeping Eye on Securities Litigation

There have been a lot of changes in the world of securities litigation. Insurance Journal...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Smart Choice or Superior Access
Posted: Tue Mar 26 -- i don't have an answer for any of the post here today but just want to share my experience with Smart Choice. i have a new agency and signed... robert
Arizona broker fees
Posted: Mon Mar 25 -- If the Wholesale Broker / MGA is making the filing (regardless of the retail agent having a SL license), then my information was correct. If... AZagent
AI request on form 126 - where do you
Posted: Fri Mar 22 -- Either of those works, but also put it in the hazards (class code & rate) section with Addl Ins BF so if they see it on the rating portion... FurriePrincess
What is your biggest pain as an agent?
Posted: Tue Mar 19 -- Silly requests on COI's from people who think they know what they are doing. Examples: Requiring a 2/4 GL limit, nothing else, when insured... kevinraz

Reader Comments

Lobbyists Keep Battling As Obamacare Turns 3
Posted: Mon Mar 25 -- There has never been a bill passed in Congress in the history of the country that has had as much negatively said about it after this much... Agent
Florida Gov. Scott, Insurers Vow Fight to Save PIP Law After Injunction
Posted: Fri Mar 22 -- Just do away with this outdated coverage. Create reasonable mandatory bodily injury liability limits. Make UIM/UM a mandatory coverage with... TN
Obamacare to Hike Some, Lower Other Individual Health Premiums: Sebelius
Posted: Wed Mar 27 -- I agree Dave. Instead of doing the right thing for the people and doing Tort Reform, they accepted the money from the Trial Lawyers and left... Agent
Insurance Agent Takes Stand on Gay Marriage in Supreme Court Case
Posted: Wed Mar 27 -- That would be any species that exists in nature and has the potential to engage in sexual activity. "Species" is in reference to the manner... Don't Call Me Shirley
Minnesota Bills Would Allow Driver Licenses for Illegal Immigrants
Posted: Sat Mar 23 -- And isn't that just a slap in the face to those immigrants who are here LEGALLY?? Very disappointing.......of course, it was Democrats that... Conservative

Current Issue

March 25, 2013
Current Issue
Hot New Markets; High Risk Property; Corporate Profiles - Regional Edition; 2012 Mergers & Acquisitions Summary Report; Quarterly Employee Benefits Brokerage Report

More Newsletters

Choose Newsletters
Enter Your E-mail

How to Advertise

For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148.
View our Media Kit for advertising options in our magazines and online properties.
Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2013 by Wells Media Group, Inc.