Friday, July 27, 2012

Daily Headlines: Friday, July 27, 2012

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Insurance Journal Daily Headlines
July 27, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Futures Industry Head Seeks Study of Insurance Fund

The chairman of a futures industry trade group said on Thursday that serious consideration should be given to the creation of an insurance ...

Drought Bill May Get Washington to Act on Farm Bill

A comparatively low-priced disaster bill for livestock producers hit by the worst U.S. drought since 1956 may be the ticket to passage for ...

Why Some Types of Multitasking Are More Dangerous Than Others

People are better at juggling some types of multitasking than they are at others, according to a new study that has implications for ...

Chubb Profit Slightly Down; U.S. Commercial Renewal Rate Hike 9% in Q2

The Chubb Corp. reported $404 million profit for its second quarter, declining 3.6 percent from $419 million reported a year earlier. The ...

American Family Insurance Launches Online Home Inventory Service

American Family Insurance has unveiled DreamVault, a home inventory application that's free to everyone. DreamVault is available online ...

From MyNewMarkets.com Marsh Product Covers Business Interruption Created by Cloud Providers

Many businesses are now utilizing third party companies, also known as cloud providers, for information technology services or storing and...
Join us online Thursday August 8 for a LIVE webcast, Errors & Omissions: What's Actually Being Covered? - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
East

Bankrupt Dewey Law Firm Pitches New Deal to Ex-Partners

Bankrupt law firm Dewey & LeBoeuf revised its settlement offer to former partners on Thursday, dropping its potential recovery to $90.4 ...

Mass. AG to Seek Fines Against Utility for Outages After Storms

National Grid could be facing more than $16 million in fines connected to its response to two major power outages last year. Attorney ...

Selective Posts Lower Profit, Hampered by CAT Loss, Weaker Investments

Branchville, N.J.-based Selective Insurance Group Inc. posted $0.3 million for its second-quarter profit, down from $1.5 million profit ...

Maine-Based MEMIC Group Names Communications Production Manager

The MEMIC Group, a workers' compensation insurer headquartered in Portland, Maine, has promoted Kelly Barden to the new position of ...
Join us online Wednesday August 1 for a LIVE webcast, Develop Program Business Within Your Agency - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Midwest

Missouri Helps Collect $5M for Consumers in First Half 2012

Missouri insurance regulators report their efforts are helping consumers to receive more than $5 million in additional insurance claims ...

South Dakota Motorist Hits Motorcycle, Vehicles While Texting

Police say a Sioux Falls, S.D., man was texting and driving too fast when he hit a motorcycle, three other vehicles and a light pole, and ...

Ohio Health System Fighting Pill Fraud with Fingerprints

A southeastern Ohio health system is hoping a fingerprint collection program will help it cut down on prescription painkiller abuse. Brent ...
Southeast

Private Companies Offer Plans to Depopulate Florida’s Citizens

Private companies and investors say they are willing to remove thousands of policyholders from Florida's state- backed homeowners market ...

West Virginia Mine Regulators Slow on Inspections, Permits

West Virginia mine regulators have failed to meet internal goals for timely inspections and permits, a legislative audit concluded, but ...

Shareholder Lawsuit Filed Against Duke Energy

A shareholder lawsuit is using sworn testimony by Duke Energy Corp. executives and directors to support claims that investors were misled ...
South Central

Digital Insurance Acquires DSG Benefits Group in Dallas

Employee benefits-only agency, Digital Insurance, has acquired DSG Benefits Group in Dallas. The acquisition marks the company's debut in ...

TWFG Offering New Branch Agent Opportunities

The Woodlands, Texas-based independent insurance agency, TWFG, announced it is offering a new branch agent program. With a commission split ...

Grow Through Acquisitions Highlight Quarter for 2 CAA Member Agencies

Combined Agents of America LLC (CAA) announced that two member agencies — Duncan, Fraser & Bridges Insurance Agency Inc. (DFB) and ...

OSU Appeals Ruling Over ‘Gift of a Lifetime’ Insurance Money

Oklahoma State University has appealed a judge's order that blocked the university's attempt to recover $33 million spent on life insurance ...
West

Environmentalists To Sue Colstrip Over Pollution in Mont.

Environmentalists filed notice Wednesday that they plan to sue the six companies that co-own eastern Montana's Colstrip power plant over ...

Dead Cattle, Devastation In Wake Of Western Fires

Cecil and Delores Kolka thought they escaped the worst of the Ash Creek Fire when the 390-square-mile blaze spared their home and several ...

California Court Reinstates Lawsuit Against Glock

A California appeals court has reinstated a now-retired paralyzed Los Angeles police officer's product liability lawsuit against gun ...

Conference: Risk, Returns, Regulation, and More Regulation

Coming off a rough few years of recession, then a disaster prone 2011 – and then more global uncertainty in 2012 – the world and the ...
International

Evidence for Climate Extremes, Costs, Gets More Local

Scientists are finding evidence that man-made climate change has raised the risks of individual weather events, such as floods or heat ...

South Korea May Resume Iranian Crude Oil Imports Soon

South Korea may soon resume Iranian crude imports after having completely halted shipments in July because of a European Union ban on ...

Allianz Adds London, Nice Stadiums to Its ‘Family’

Germany's Allianz announced that it has added two new stadiums to the Allianz Family of Stadiums. Allianz France signed a long-term naming ...

More Earnings Reports: Validus Holdings, Montpelier Re

Selected earnings highlights from Bermuda-based Validus Holdings Ltd. for the second quarter and the first six months of 2012 are as ...

Earnings Reports: Arch Capital, SCOR Group

Selected earnings highlights from Bermuda-based Arch Capital Group for the second quarter and the first six months of 2012 are as ...
Insurance Journal Blogs

North Carolina’s Antiquated Rate Bureau System

There was a time, not so far in the distant past, when virtually all property and casualty insurance rates were calculated by ...

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Insurance Journal TV

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New PURE Program Provides Extra Flooding Services for High-Value Homeowners

A new flood coverage suite from Privilege Underwriters Reciprocal Exchange, or PURE, now...
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Agency Capitalizes on Obamacare

Shawn Pynes, principal with Barney & Barney, discusses the benefits business following...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

D&O for Non Profit
Posted: Fri Jul 27 -- I'm looking for a market for D&O or some similar insurance to protect unpaid Directors and Officers of a Nashville municipality owned... aikijujitsu2001
Personal Lines - Renewal Letters? E&O Prevention
Posted: Thu Jul 26 -- That family risk questionnaire sounds interesting. I thought about something like that, but then I worry about if we left off one specific... Smalltownagent
Garage Keepers Liability - Tow Truck Yard - CA
Posted: Thu Jul 26 -- Hi JAM, Can you recommend a wholesaler to the GKL. Thanks for your feedback! InsureTime
Adding Value? Who Cares? And, who gets mad?
Posted: Thu Jul 26 -- The customer is never going to be happy when they hear less than stellar news...plus they hear what they want to hear: aka selective... surestart12345
Comp in Ca
Posted: Thu Jul 26 -- BTIS might have something as well. JAM
Reservation of Rights HELP
Posted: Thu Jul 26 -- First, which entity is the insured? I just want to get the players straight in my mind. Second, as respects emotional distress claims, in... fseigel
FREE EXMOD check in CA
Posted: Wed Jul 25 -- Nevermind, Seems like WCRIB is doing them for free now. JAM

Reader Comments

Ex-School Nurse in Texas Gets 10 Years for Fire
Posted: Mon Jul 23 -- I'm betting her next evaluation will include something like "Doesn't accept constructive criticism very well" Markey
$31M Jury Award For Unsafe Calif. Highway
Posted: Mon Jul 23 -- The title of this article is a bit misleading. The jury found CalTrans 15% liable and placed 85% liability on the driver who made the left... Lisa
Former Citigroup Chief Weill Surprises with Call for Break-Up of Big Banks
Posted: Thu Jul 26 -- It really is pretty simple TM. These big boys knew the sentiment would be they were too big to fail and the government would come to their... Agent
Injured Occupy Protester Sues Portland Police
Posted: Fri Jul 20 -- May I remind you that our police officers across our country put their lives on the line for us and yes--even these Occupy LOSERS every... Alive and Well in CT
Tennessee Court Says Killer Can Keep Insurance Money
Posted: Mon Jul 23 -- For goodness sakes! She was eleven years old when it happened and only 14 when she settled....where are child protective services???... NCS

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July 23, 2012
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