Daily Headlines: Thursday, October 11, 2012

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October 11, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National BP, Justice Department Close to Oil Spill Settlement: WSJ BP PLC and the U.S. Justice Department are close to a broad deal that would release the company from additional civil and criminal ... 2012 Agency E&O Survey: Participate Now Once again, Insurance Journal is polling its readers asking for their thoughts on today's agency errors and omissions market. Don't miss ... Schinnerer Adds Small Business Miscellaneous E&O Policy Victor O. Schinnerer & Co., a managing general underwriter, is adding to its professional liability offerings with a new miscellaneous ... Paychex, Employers to Provide Work Comp to Small Businesses EMPLOYERS has entered into an agreement with Paychex Insurance Agency, Inc. to provide small businesses the opportunity to acquire and pay ... The Next New Thing: Coverage Issues from Fracking Claims Every few years it seems that there are predictions of a new type of claim that threatens to engulf carriers. In the 1980s and 1990s it was... More National News East WCRI: N.Y. Workers' Comp System Reforms Achieving Their Objectives The workers' compensation reforms enacted in New York in 2007 are beginning to achieve some of their objectives, according to a new study. ... U.S. Judge OKs $71.5M Dewey & LeBouef Bankruptcy Deal A U.S. bankruptcy judge approved a $71.5 million settlement on Tuesday between former partners of Dewey & LeBoeuf and the estate of the law ... N.J. Company Pleads Guilty to Theft of WC Insurance Premiums New Jersey authorities announced that a Burlington County company has pleaded guilty for under-reporting the number of its employees and ... XL Group Promotes O'Malley to Lead Environmental Underwriting XL Group plc has promoted Matthew V. O'Malley to a new role as head of environmental underwriting operations in XL Group's insurance ... Ads for Mass. Senate Hopeful Warren Defend Legal Work in Asbestos Case Democratic Senate hopeful Elizabeth Warren has launched two new television ads responding to criticism by Republican Sen. Scott Brown of ... More East News Midwest Arthur J. Gallagher & Co. Acquires Coyle Insurance Agency Arthur J. Gallagher & Co. has acquired Coyle Insurance Agency Inc., in Peoria, Ill.. Terms of the transaction were not disclosed. Founded ... Hastings Mutual Insurance Partners with National Farmers Union Hastings Mutual Insurance Co., a regional property/casualty insurance carrier headquartered in Hastings, Mich., announced a new marketing ... 2 Women File Federal Discrimination Suit Against NE Kansas DA Two former employees have filed a federal lawsuit against Shawnee County, Kansas, District Attorney Chad Taylor alleging they were ... More Midwest News Southeast Florida Hurricane Fund in Better Shape But Could Still Be Short on Cash Florida's state-run reinsurance facility still faces a potential $1.5 billion gap to fulfill its maximum mandatory obligation, although it ... Court Upholds Florida Medical Malpractice Notification Rules The Florida Supreme Court has ruled that refiled medical malpractice lawsuits must follow new state laws. The high court in a unanimous ... WC Wage Loss Dispute for S.C. Claimant Who Hopes to Start a Restaurant An injured crane operator who expressed his aspiration to start a restaurant business got into a pickle during workers' compensation ... Tennessee Regulator Urges Caution With Home Medical Oxygen The presence of portable, medical oxygen in the home has grown over the past decade -- and so has the need for education about the fire ... More Southeast News South Central Attorney: Violent Weather Slamming Oklahoma Property Market Property claims in Oklahoma totaled $1.6 billion in 2011, according to one attorney familiar with the property insurance market in that ... Top US Ag Negotiator: Farm Exports Likely Down $1B America's top agricultural negotiator, speaking in Stuttgart, Akr., said that he expects farm exports to be down between $1 billion and $2 ... $1.8M Awarded for Bayou Chene Flood Control Project Funding of $1.8 million for the completion of the Bayou Chene Flood Protection System in Louisiana has been approved by the U.S. Department ... More South Central News West Autistic Teen Sues Southern California School District An autistic teenager who was dragged from class and handcuffed has sued the Irvine Unified School District in Southern California. The ... Moody's Targets Calif. Cities For Downgrades One of the nation's top credit rating agencies will review dozens of California cities for possible credit downgrades amid mounting concern ... Expert: Idaho Has No Time For State Exchange Idaho has run out of time to establish a state-run insurance exchange required by President Barack Obama's health care overhaul, meaning ... 'Pawn Stars' Sued By Former Manager In Las Vegas The owners of a business featured in the cable television show "Pawn Stars" and the network that handles the show are being sued in Nevada ... Leavitt Group Names Sindle Adviser in Northern California The Leavitt Group's Sacramento, Calif. office named Chris Sindle as an adviser in the professional liability program. Sindle will provide ... Sullivancurtismonroe Adds Mitchell In Southern California SullivanCurtisMonroe Insurance Services LLC named Randall Mitchell as a property-casualty consultant in its Irvine, Calif. office. Mitchell ... More West News International ING to Sell Malaysian Insurance Unit to AIA for $1.73 Billion Pan Asian insurer AIA Group Ltd has agreed to buy ING's Malaysian insurance operations for $1.73 billion in cash, handing the Dutch ... Willis' Econ. Director Calls for More Transparency, Less Complexity in Models "I think everyone in the industry would be interested in reducing the complexity of models, making things more transparent and thus easier ... French Non-Life Sector Resilient, Despite Economic Difficulties: Best Reports A new report from A.M. Best notes that the "French insurance market has experienced significant volatility during the past few years, ... Best Reports Italy's Non-Life Insurance Sector Faces Shifting Landscape The Italian non-life insurance market faces changes as the sector is subject to new legislation and industry consolidation, while the ... Ratings Recap: Lancashire (notes), Adamjee, Milli Re A.M. Best Co. has assigned a debt rating of "bbb" to $130 million 5.70 percent senior unsecured fixed interest notes due in 2022 of the ... More International News Join the Insurance Journal Network Insurance Journal TV Louisiana's Donelon on Isaac, Citizens, Lawsuits and More Despite taking a direct hit from Hurricane Isaac in late August, Louisiana probably won't see... Watch Now Agriculture Business Prepared for This Year's Drought Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Dave Ramsey Posted: Thu Oct 11 -- Dave Ramsey is great. I listen to him all the time. Very sound financial advice. The only thing that bugs me about him, and yes I do sell... m2insurance Primary Flood MO Posted: Wed Oct 10 -- Hi Bill! We have a market for flood insurnace in non-participating communities, and would be happy to help you get it quoted/issued. We have... bkor3 Non-profit with incidental international exposure Posted: Wed Oct 10 -- Philadelphia Insurance can place the international coverage through their in-house wholesaler, Valley Forge. Contact your local PHLY... phlybob National Agents Alliance? Legit or Keep Away? Posted: Wed Oct 10 -- This company is a bunch of scumbags and here is some good proof. Michael Bettencourt is one of NAA's best producers. Rising Star ... all... dont do it Thoughts on some books? Posted: Fri Oct 5 -- It has been several years ago since I purchased the Insurance Essentials material so I have not seen the current book. We used it primarily... ForumReader CPCU - Worth it right now? Posted: Fri Oct 5 -- Popeye, read the previous posts in this thread for an answer to your question. ForumReader Pizza W/ delivery WC in CA Posted: Thu Oct 4 -- I need to know what carriers write pizza Wc with more than 10% delivery exposure. Our current carrier wont write it as it is not a... JAM Will old CPCU books work for the new CPCU exams? Posted: Thu Oct 4 -- Actually, in my biology degree, most of the teachers allowed older edition books since the material was very similar. The only ones that... NCPCLHagent Go to Forums Reader Comments Lawmaker Warns of New Cyber Threats to U.S. Financial Networks Posted: Fri Oct 5 -- And to those of you that think "they are just good people keeping us safe from bad people, and I have nothing to hide so I have no qualms... ExciteBiker Indiana Doctor Who Hid in Europe Says He's Served Enough Time Posted: Wed Oct 10 -- What about federal charges of flight to avoid prosecution? Chris Neb. Man Paralyzed in Crash Loses Fight With Insurer Posted: Fri Oct 5 -- The officer was driving 80 mph in a 50 mph limit zone? Does anyone want to bet me he is still collecting a taxpayer check and building up... ExciteBiker Southern California Educator Arrested For Workers' Comp Fraud Posted: Tue Oct 9 -- Prosecute to the fullest extent of the law .. we need to start making examples of these cheaters - show others that they won't be able to... dj Florida Gov. Becomes Target Even Though He's Not on Ballot Posted: Wed Oct 10 -- I keep hearing how terrible this guy is and I live in Florida so I hear it all the time from the media heads around here. Yet I have not... 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