Daily Headlines: Tuesday, June 5, 2012

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June 5, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National States Collecting on $146 Million AIG Workers’ Comp Settlement State regulators around the county are finally collecting their share of a multimillion dollar settlement reached with with American ... Claims Against MF Global’s Corzine, Other Executives May Depend on Insurance Jon Corzine failed to address MF Global Holdings Ltd.'s growing liquidity needs as he tried to build the commodities broker into a global ... U.S. Drug Recalls Common But Not Well-Publicized: Study The U.S. Food and Drug Administration recalls potentially harmful drugs about once every month but could do a better job of letting doctors ... Insurance Exchange Ebix Acquires PlanetSoft for $40 Million Atlanta-based  insurance software and e-commerce supplier Ebix said it has agreed to buy  life insurance and annuity services provider ... Marsh Launches Product for Cloud Computing Risks Marsh has launched an insurance product designed to protect companies against first-party losses stemming from a cloud service provider's ... Towers Watson Launches Network for Chief Risk Officers in North America Towers Watson, a global professional services company, has launched the Chief Risk Officer (CRO) Network, a knowledge-sharing network ... Insurers Incentivize Policies to Combat Cargo, Equipment Theft Several years of construction equipment and cargo theft claims have some carriers in the inland marine and equipment insurance classes... More National News East Springfield, Mass., Residents Sue City Over 2011 Tornado Damages Owners and tenants of a Springfield, Mass., condominium complex damaged by last year's tornadoes have filed a lawsuit against the city, ... GE Executive Joins Erie Insurance as New Chief Investment Officer Erie, Penn.-based Erie Insurance Group appointed Brad Postema as senior vice president and chief investment officer.In his new role, ... Highmark, Pennsylvania’s Largest Health Insurance Co., Names New CEO Pittsburgh-headquartered health insurance giant Highmark Inc. has named Dr. William Winkenwerder as the company's new chief executive ... Virginia Activists Press Banks for Foreclosure Aid Nearly 1,000 homeowners in Prince William County and the cities of Manassas and Manassas Park have been identified as eligible for ... AIG’s Chartis Launches Hospitality and Leisure Industry Practice Group AIG's property/casualty division Chartis announced the launch of its hospitality and leisure industry practice group, which will provide ... More East News Midwest Ohio Workers’ Comp Bureau Extends Private Employer Rate Cut The Ohio Bureau of Workers' Compensation (BWC) in late May announced an extension of the $65 million in rate cuts enacted last year for ... Feet of Sand Leave Midwest Farms Wasteland After Flooding Mason Hansen guns his pickup and cranks the steering wheel to spin through sand up to 4 feet high, but this is no day at the beach. Hanson ... More Midwest News Southeast OSHA Investigating 2 Fatal Blasts in 2 Weeks at Mississippi Plant The mother of a man who died in an explosion at a Pascagoula, Mississippi fertilizer factory says her son never spoke of any safety ... Florida Broker Kuykendall Gardner Names Loflin as Vice President Winter Park, Fla.-based insurance broker Kuykendall Gardner recently hired Brendan Loflin as vice president. In this role, he will be ... More Southeast News South Central Lawyer, Accident Case Runner in Texas Sentenced on Felony Charges An attorney and a case runner have been sentenced in Texas on felony charges related to soliciting business from victim's family after a ... U.S.: Restitution Impractical for Stanford Victims The U.S. government said it would be "impracticable" to enforce an order of restitution against financier Allen Stanford to victims of ... Trial Opens in Louisiana for Suit Against Costner Over BP Deal Jury selection began June 4 in a legal fight between two Hollywood stars over investments in a device used to try to clean up BP's 2010 oil ... More South Central News West More Containment On New Mexico Wildfire Aerial ignitions along multiple portions of the Whitewater-Baldy Complex wildfire boundary in New Mexico allowed crews to hold and mop-up ... Colorado Governor To Sign Wildfire Compensation Bills Colorado Gov. John Hickenlooper is preparing to add his signature to two bills that will provide victims of the state-caused Lower North ... Bell-Anderson Adds Newman as Director of Marketing Renton, Washington-based Bell-Anderson Agency Inc. named Dwight Newman director of marketing.  Newman's responsibilities will lie mainly ... Idaho Reaches Settlement With Insurer Aflac State officials say Idaho will receive $200,000 as part of a regulatory settlement with the insurer Aflac Inc. On Monday, the Idaho ... SCF Arizona Board Approves $3.5 Million Dividend SCF Arizona announced it will pay out safety dividends totaling $3.5 million for 2011 to qualified policyholders, making it the 41st ... Family of Girl Who Died At Los Angeles Rave Settle Lawsuit The family of a 15-year-old girl who died of an ecstasy overdose at a rave at the Los Angeles Memorial Coliseum will receive a $190,000 ... More West News International Global Downturn Puts Investors, Companies in Retreat Gripped by fears that Europe's debt crisis is driving the world economy into a ditch, companies are delaying plans to raise capital and ... Chinese Drivers Pose Fresh Risks for Foreign Insurers "People like us who buy Ferraris don't care too much about insurance because we buy cars for speeding," said Li, in his twenties and the ... Irish ‘Yes’ Vote Assures Continued Support; Euro Zone Crisis Still Weighs Ireland held a referendum on Thursday, May 31 – a straight yes or no vote on whether the country would write the "Stability Treaty," the ... Applied Systems Acquires Canada’s Compu-Quote Insurance software firm Applied Systems Inc. has acquired Compu-Quote Inc.,  a Canadian comparative insurance rating company. "The ... More International News Insurance Journal Blogs Does Rick Scott support the ‘Beach House Bailout?’ Much of Florida Gov. Rick Scott's tenure in office has been consumed with confronting the mistakes his predecessor made in the property ... More Blogs Join the Insurance Journal Network Insurance Journal TV Annual Live Training Burn Educates Adjusters Pat Andler, a certified fire investigator and owner of Andler & Associates discusses the... Watch Now What D&O Buyers Look For In a Carrier What do insureds look for when shopping for a carrier to provide director and officers... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums What are your thoughts on the insurance industry Posted: Tue Jun 5 -- When compared to many other industries, Insurance can be very rewarding, stable, interesting, and important. Having spent my post college... GerryZ Fees on Admitted Market Posted: Tue Jun 5 -- Hi, Does anyone know a good site other than the state website to find information on what fees are allowed on admitted market? I am trying... insnewbie1 Calling all experienced MGAs...is this a fair deal? Posted: Mon Jun 4 -- I think the fact that you are responsible for your own marketing, sales and service is an issue. You can't do all three well, and so what... LadyBroker Do you use online leads services? Posted: Mon Jun 4 -- My website has affiliate marketing ads for hometownquotes. Does anyone have any experience with them? A few years back, when I was doing... Robert742 Just another day in the retail insurance biz Posted: Mon Jun 4 -- This is worthy of a post only because I was on the IJ site when my agency receives an unannouned walk-in looking for a quote just moments... d's insurance store Work Comp for a Live Theater in California Posted: Fri Jun 1 -- Looking for someone besides State Fund that will write Work Comp for a community theater. The company they are with now is non-renewing. I... bartman Credit Card Processing Posted: Fri Jun 1 -- Depending on your volume, we went with Square Up, no fees or monthly minimum, they charge .0275% per transaction, if you do not use it... texican CA STATE FUND Posted: Thu May 31 -- As a former State Fund Underwriter I have been frustrated as well. "Timely quotes-Not!" I have been having a... Santa Rosa Ins Broker Go to Forums Reader Comments 50 Years On, Fire Still Burns Underneath Pennsylvania Town Posted: Fri Jun 1 -- There are only 5 remaining homeowners and they presumably have all been there since the fire started, making them all adults who can... Lisa Arkansas Teacher Sues District Over Anger Management Course Posted: Thu May 31 -- explaining teacher's rights vs anger... sounds like the superintendant needs to go to one... he was angry because a teacher was being told... wudchuck BofA Whistleblower to Receive $14.5M in Mortgage Case Posted: Wed May 30 -- These financial institutions are almost as corrupt as the politicians. Chris Dodd made out like a bandit with his favorable loan terms with... Agent Flood Insurance Program Extended Until July 31 Posted: Thu May 31 -- Continuing Resolution after continuing resolution just like they do on the budget which has been non existent for 3 years. These politicians... Agent Michigan Court Rules for Insurer in Tragic Hit-and-Run Posted: Fri Jun 1 -- "The court's conservative majority"....why do we never see "The court's liberal majority" or "ZZZ is a liberal think tank?" 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