Tuesday, July 3, 2012

Daily Headlines: Tuesday, July 3, 2012

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Insurance Journal Daily Headlines
July 3, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Judge Says Greenberg May Pursue $25B Suit Over AIG Bailout

A company run by former American International Group Inc. Chief Executive Maurice "Hank" Greenberg may pursue a $25 billion lawsuit against ...

Lawyers Pursuing Concussion Lawsuits Take Page from Big Tobacco Playbook

Smokers and pro football players have something in common: They engage in risky behavior that can be potentially harmful to their health ...

Chief Justice Roberts Viewed Differently After Healthcare Opinion

Chief Justice John Roberts could have taken down the entire, massive healthcare law that his fellow Republicans deride as "Obamacare." He ...

New Safety Standards Approved for Child Play Yards

The Consumer Product Safety Commission has approved new federal mandatory safety standards for children's play yards. The requirements will ...

State Farm’s Ziemann Elected IASA President

The Insurance Accounting & Systems Association Inc. (IASA) has elected Louise Ziemann of State Farm to serve as president of the ...

ACE Releases First Dollar Defense Endorsement for CPL Coverage

ACE USA has released ACE first dollar defense endorsement for contractors pollution liability (CPL) coverage. This new offering provides ...

From MyNewMarkets.com RLI, Chubb Among Top P/C Performers: SNL

RLI Corp. tops the list of property/casualty commercial lines carriers ranked by financial performance for the 12 months ending March 31,...
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East

Traffic-Related Fatalities in N.J. Declining Compared to Last Year

New Jersey officials said overall traffic-related fatalities in the state for the first six months of 2012 were 262 -- down 10 percent from ...

N.Y. to Hold Flood Insurance Adjuster Certification Class on July 17

New York will be offering its annual training session this month for property/casualty insurance adjusters who want to seek or maintain ...

N.Y. Judge: Aon’s Poaching Suit Against Alliant Can Proceed

A New York court ruled last week that Aon can proceed with its lawsuit against California-based Alliant Insurance involving employment ...

Former Claims Manager Indicted for Fraud Scheme in Massachusetts

Massachusetts officials said two men -- including a former claims manager -- have been indicted in connection with a scheme to fraudulently ...

N.J. Court Rules on Workers’ Compensation Occupational Stress Claim

A New Jersey court struck down last week a claim by a former bank employee who sought workers' comp disability benefits for what the ...
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Midwest

Arthur J. Gallagher & Co. Acquires Miller Buettner & Parrott Inc.

Insurance broker Arthur J. Gallagher & Co. has acquired Miller Buettner & Parrott Inc. in Rockford, Ill. Founded in 1998, Miller ...

Ohio Storm Victims Could Get Interest Rate Reduction

Small business owners, farmers and other Ohioans affected by severe weather this weekend might be eligible for interest rate reductions on ...

Growth Slowed in June, Midwest Business Conditions Index Shows

A nine-state Midwest and Plains economic survey index fell for the second straight month in June. A survey report released July 2 for the ...
Southeast

Florida Seeks Help to Quicken Approval of Insurer Forms

Florida regulators are looking to fast track the approval of changes in insurance company property policy forms and coverages after ...

Mississippi Court Throws Out Jury Award Over Supermarket Beating

The Mississippi Supreme Court has thrown out a $2.5 million judgment for a Jackson woman who lost sight in one eye when purse-snatchers ...

South Carolina Judge Adds Bible Reading to Drunk Driving Sentence

A South Carolina woman whose drunken driving seriously injured two people has been sentenced to eight years in prison, substance abuse ...

BancorpSouth Insurance Acquires Alabama Agency, Securance Group

BancorpSouth Insurance Services Inc., headquartered in Tupelo, Mississippi, has agreed to acquire the assets of The Securance Group, Inc., ...
Join us online Wednesday July 11 for a LIVE webcast, Property Valuation - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
South Central

CBIZ Acquires Texas-Based Stolz and Co.

Ohio-based professional business services firm, CBIZ Inc., announced it has acquired the assets of insurance firm Stoltz and Co. LTD., ...

Whitaker Named President-Elect, Arthur to Serve as VP of Texas Agents Association

Don Whitaker, president and owner of Whitaker Insurance Associates Inc. in San Antonio, has been named president-elect of the Independent ...

Oklahoma Commissioner: More Legal Challenges to Health Reform Law Possible

While he is disappointed with the Supreme Court's decision to uphold federal health reform legislation, Oklahoma Insurance Commissioner ...
West

Stockton, California Set for Bankruptcy Hearing; Bond Insurer Vows Fight

Lawyers for Stockton, California will appear for the first time in a Sacramento court this week to make their case for protecting the city ...

Campbell Joins Berkshire Hathaway Homestate Cos.

Berkshire Hathaway Homestate Cos. named Michael Campbell to its workers' compensation division as assistant vice president of ...

Lawsuits In Nevada Amtrak Mishap Claim Crossing Defects

Four lawsuits filed on behalf of victims of last year's Amtrak-truck crash in northern Nevada claim railroad crossing gates either came ...

CEA Unveils Homeowners Choice Earthquake Coverage Product Line

As of July 1, 2012, the California Earthquake Authority (CEA) is offering its new Homeowners Choice product line. The new product will give ...

Colorado's Historic Wildfire Season Could Cost 'Hundreds of Millions'

Insured losses from two wildfires in what's shaping up to be a historic wildfire season for Colorado may be into the "hundreds of ...

Alternative Security Puts $6.17B Back Into Calif. Businesses

Department of Industrial Relations Director Christine Baker on Monday approved implementation of the 2012/2013 Alternative Security ...
International

Willis Re Reports Some Reinsurance Rate Increases, but No Market Turn

"Rate increases in the North American and International reinsurance markets are due to modest losses and poor results – not a hardening ...

UK Watchdog Reviewing Regulatory Supervision after Libor Scandal

The UK's Financial Services Authority (FSA) is reviewing how wholesale markets are supervised following the interest rate-setting scandal, ...

CNA Completes Acquisition of Hardy Underwriting Bermuda Ltd.

Chicago-based CNA Financial Corporation and Hardy Underwriting Bermuda Limited announced the successful completion of CNA's acquisition of ...

Guernsey Licenses 63 New Insurance Entities in First Five Months of 2012

Figures released by the Guernsey Financial Services Commission (GFSC) show that there were 739 international insurance entities licensed by ...

Best Affirms Lancashire’s ‘A’ Ratings; Stable Outlook

A.M. Best Co. has affirmed the financial strength rating of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of Bermuda-based ...
Join us online Wednesday July 11 for a LIVE webcast, Work Comp Retrospective Plans - hosted by Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Sponsored Content

Bruce Lees Named Chief Marketing Officer for Atlas General Insurance Services

San Diego, CA, 7/3/2012 – Bruce Lees has been named Chief Marketing Officer for Atlas General Insurance Services, a program administrator ...
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Insurance Journal Blogs

Burand’s Agency E&O Blog: Tip #5

Minor items do cause E&O claims and sometimes your carriers exploit these minor items. Almost every agency occasionally receives law ...

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Insurance Journal TV

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Health/Benefits Sector Offers Potential Growth for P/C Agents

Despite the uncertainty over the changes occurring in healthcare delivery and insurance...
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M&As Often Come with D&O Exposures

Companies must do their due diligence when acquiring foreign entities or they could end...

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New Discussions in the Forums

IA start up with a twist
Posted: Tue Jul 3 -- Haven't been on here in awhile. Thanks for the constructive replies from D's and Lady. I was hoping to drum up this kind of response so that... JevonCC
Agent no legal duty to inform on cancellations?
Posted: Mon Jul 2 -- Are you honestly saying you make no attempt to notify a client when their policy is in cancellation mode? LadyBroker
Do you use online leads services?
Posted: Sat Jun 30 -- Rodwadg...Really? Look, if you can't Google and find at least 12, I am NOT helping you... Baiting? I'm old enough not to fall for a grade... OldIndyAgent
Signing up for an insurance directory
Posted: Sat Jun 30 -- Hello, I am a domainer. Unless you have your name branded well. At least page one position one two or three. I believe there would be... sirkarl101
Insurance Agency Loans
Posted: Sat Jun 30 -- I own a newer agency going on our first year in business. We are doing great providing Florida home and auto ins ect. However, I am so busy... Legacyins
Can an employer fire an employee because their pre-convicted
Posted: Thu Jun 28 -- I am no attorney, but I would suggest that depending on what the employee was arrested for, could give the employer cause? For instance, was... LadyBroker
When is it time to let your staff go?
Posted: Wed Jun 27 -- Isn't this one of the hardest questions? (Well, not always, sometimes they make it really easy on you to answer!) I think it's a whole... johnsharp

Reader Comments

Reactions to Healthcare Ruling Coming In; What's Yours?
Posted: Thu Jun 28 -- We are now a socialist country, no longer a democracy. Our founding fathers are rolling in their graves!!!!!!! csp
Supreme Court Upholds Healthcare Law; Read Copy of Opinion
Posted: Thu Jun 28 -- So using your logic the whole concept of self insurance is out? I fully agree that having a means by which to support the economic... Bob
Republican Senator's Abortion Amendment Holding Up Flood Insurance Bill: Reid
Posted: Wed Jun 27 -- Sarah, I'm a woman who is paying attention. So don't BS me with killing unborn children stuff. The birth control debate, Virginia's... Sally Anne Fannymaker
Agents, Insurers Cheer Congress OK of Flood Insurance Reform Bill
Posted: Mon Jul 2 -- OK Insurance Journal news department. What happened to that unnamed republican who was going to stop this law because of the definition of... Jack
Louisiana Officials' Reaction to Health Ruling Mostly Negative
Posted: Fri Jun 29 -- Bobby Jindal will next look for ways to get Louisiana out of the United Nations. kafantaris

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July 2, 2012
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