Daily Headlines: Wednesday, December 12, 2012

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December 12, 2012 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National States Plan to Sue EPA Over Greenhouse Gas Regulations A coalition of seven eastern states led by New York plans to sue the U.S. Environmental Protection Agency for failing to issue new ... Best Sees No Change in AIG's Ratings from U.S. Treasury Share Sale, ILFC Deal A.M. Best Co. has commented that the issuer credit rating of "bbb" of American International Group is unchanged following the announcement ... Berkshire Hathaway Buys Back $1.2B of Stock Berkshire Hathaway Inc. said on Wednesday that it had repurchased $1.2 billion of its own stock and raised the price at which it is willing ... Commentary: Bad Faith Litigation Against Insurers Rages Across Country A rising tide of first-party bad faith decisions is defining the contours of the bad faith cause of action. Policyholders regularly claim ... Hiscox, Rocket Lawyer Partner to Provide Resources to Small Businesses Hiscox has  partnered with Rocket Lawyer, an online legal service, to provide small businesses with both insurance and legal advice. In ... Deaths of Bicyclists, Large Truck Occupants Rise as Other Traffic Fatalities Fall Deaths of bicyclists and occupants of large trucks rose sharply last year even as total traffic fatalities dropped to their lowest level ... High-Profile CEOs Push for Compromise on 'Fiscal Cliff' A group of high-profile chief executives urged President Barack Obama and Republican congressional leaders on Tuesday to strike a deal to ... Senate Debates Renewal of Federal Deposit Insurance But House May Balk The U.S. Senate voted on Tuesday to begin debating a bill that would keep a financial crisis-era deposit insurance program in place for two ... Evolution of Cyber Coverage: How to Sell to Today's Businesses The insurance industry has wrestled with the best way to respond to all the different privacy and security exposures businesses face in the... More National News East Chubb Estimates $570 Million Net Loss From Superstorm Sandy The Chubb Corporation announced it estimates its losses from Sandy to be approximately $880 million before tax -- or $570 million after ... Thousands of Cars Damaged by Superstorm Sandy to Be Crushed: NICB The National Insurance Crime Bureau (NICB) says progress is being made in identifying and removing thousands of vehicles damaged beyond ... Ex-Insurance Broker Gets 15 Years for Swindling N.J. City School Board An insurance broker already headed to prison for funneling bribes to a former Toms River, N.J., school superintendent now faces an ... N.J.-Based Cumberland Insurance Group Promotes 3 Assistant VPs The Cumberland Insurance Group, a mutual insurance company based in Bridgeton, N.J., announced three promotions. The company said Glenn ... More East News Midwest Willis Expands Ohio Operations with New Cleveland Location Willis North America, a unit of global insurance broker Willis Group Holdings, has relocated its Cleveland office to 1001 Lakeside Avenue, ... Arthur J. Gallagher Acquires Charter Lakes Marine Insurance Agency Arthur J. Gallagher & Co. has acquired Charter Lakes Marine Insurance Agency, headquartered in Grand Rapids, Mich. Terms of the transaction ... Assurex Global Announces New Director of Programs, Carrier Management Columbus, Ohio-based Assurex Global has hired John Catrabone as director of programs and property/casualty carrier management. Catrabone ... Meadowbrook Insurance Group: $5.1M Known Claims from Hurricane Sandy Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported that so far it has approximately $5.1 million of known ... More Midwest News Southeast Georgia Opens Mock City for Disaster Training A mock city designed to help emergency workers train for disasters is now open for business in central Georgia. The Telegraph reported that ... Tennessee Will Leave Health Insurance Exchange to Federal Government Gov. Bill Haslam announced this week that Tennessee will not create a state-run health insurance exchange, but the Republican governor said ... Main Street America Launches Commercial Lines in Mississippi The Main Street America Group has announced it will start offering commercial line products in Mississippi through 50 independent agents ... Mississippi Regulator Advises Holiday Decorating With Safety in Mind This Christmas, hanging the stockings by the chimney is not the only holiday decorating that needs to be done with care. Mississippi's ... More Southeast News South Central Coastal Insurance Group Becomes a Higginbotham Company Fort Worth-based independent insurance firm, Higginbotham, and Coastal Insurance Group LLC announced the merger of their operations in ... Nevin Appointed President of United States Surety HCC Insurance Holdings Inc., headquartered in Houston, has appointed Carol T. Nevin as president of United States Surety Co. (USSC), a ... Peck to Lead Western Surplus Lines Agency as President, CEO Western Surplus Lines Agency Inc., based in Abilene, Texas, named Frank Peck as president and chief executive officer effective Jan. 1, ... Dallas Cowboys Player Death Raises Question of Safety Net San Francisco 49ers defensive end Demarcus Dobbs walked away from a one-vehicle accident on his 25th birthday last month and was arrested ... More South Central News West Peasley Joins Alliant As First Vice President In Southern California Alliant Insurance Services Inc. named James C. Peasley as first vice president in its Newport Beach, Calif. headquarters. Peasley has 20 ... Lucasfilm Pregnancy Verdict Overturned in California A California appeals court has overturned a Lucasfilm pregnancy case verdict, saying jurors should have been told the entertainment company ... Feds Approve Colorado, Oregon, Washington Insurance Exchanges Colorado, Oregon and Washington are among the first six states to get preliminary approval from the Obama Administration to operate a ... More West News International Aon Partners with Space Expedition Corp. for Space Traveler Coverage Aon Risk Solutions, the global risk management division of Aon plc, announced that it has formed a partnership with Space Expedition ... U.S. SEC Charges N.J.-based Consultant with Fraud in Chinese Reverse Mergers U.S. securities regulators charged a New Jersey-based consultant on Tuesday with defrauding investors in the China-based companies he ... US Trade Rep Optimistic Trans-Pacific Talks Can Finish in 2013 U.S. Trade Representative Ron Kirk said on Tuesday that he was optimistic a deal could be reached in Asia Pacific free-trade talks in 2013, ... Munich Re in Performance Guarantee Deal with China's Yingli Green Energy Munich Re said it is "reinsuring performance guarantees that Chinese photovoltaic manufacturer Yingli Green Energy gives to its customers ... ACE Puts Preliminary Estimates of Sandy Losses at $380 Million ACE Limited announced that preliminary losses in the fourth quarter for the ACE Group of companies attributable to Superstorm Sandy in the ... More International News Insurance Journal Blogs How Important Is Price in Media Buying? As we are getting closer to the Holidays, most of us in media find ourselves looking into crystal balls to come up with forecasts, and are ... More Blogs Join the Insurance Journal Network Insurance Journal TV Contractual, Regulatory Requirements Effects on Cyber Marketplace Federal and state privacy laws and contractual requirements are driving interest and demand of... Watch Now Rate Changes Coming to Healthy Railroad Industry At one time it seemed that the railroad industry was doomed, but thanks in part to the... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums WC account Losses 189 X-mod hard class codes Posted: Wed Dec 12 -- For that high of an xmod, there are safety issues that your insured isn't addressing. At this point, they're going to need to be proactive.... Big Dog Insurance directories?? Posted: Wed Dec 12 -- Hi all, We are looking at various options for online marketing. We are thinking about getting included in some paid directories but it's... paulbennings Truck & Crane operator Posted: Tue Dec 11 -- Link/contact info? dgarzoli Unfair Competition amongst brokers Posted: Tue Dec 11 -- Yikes. As frustrating as it can be the high road is going to be the best course of action. I agree with other about taking it to the... MikeI 8832 Work Comp code IN Posted: Mon Dec 10 -- You can gain access to The Hartford through us. 8832 is a targeted WC class code for them. Give us a call, or send in Acord applications to:... bkor3 Designation Suggestions Posted: Wed Dec 5 -- I would agree they do seem similar. The CIC requires 5 courses of 20hrs each with a 2 hr essay exam to pass each one. The AAI is in 3... Shagster1261 Can an employer fire an employee because their pre-convicted Posted: Wed Dec 5 -- In my opinion, firing an employee based on a mugshot isn't right. The employer should get the facts first and find out if the employee was... BeatrixLewis Taxi Cab Insurance Posted: Wed Dec 5 -- You can try piconline or dcapinsurance. The former provide limits up to $5M and has $20M excess market capability and you can even fill out... BeatrixLewis Go to Forums Reader Comments NYC Marathon Organizers Likely to Get Millions From Event Insurance Posted: Wed Dec 5 -- And wonderful Bloomberg said it was illegal to give starving families fast food because of the possible sodium content of the food.... Agent Former Brooke Corp. Execs Again Indicted on Financial Fraud Charges Posted: Fri Dec 7 -- String 'em up! They are responsible for ruining hundreds, maybe thousands, of people's lives. They're nothing but a bunch of crooks. Libby Government to See $23 Billion Total Profit on AIG Bailout Posted: Tue Dec 11 -- A welcome injection of both cash and good news. Nice to see 'big government' can come out ahead every once in a while. reality bites New Jersey Lawmaker Seeks to Cap Public Adjuster Fees in Wake of Sandy Posted: Thu Dec 6 -- It wouldn't be a bad idea if they extended that proposed law to the lawyers as well (preventing them from getting more then 10% of any... caffiend Despair after Climate Conference Inaction, but UN Still Offers Hope Posted: Mon Dec 10 -- AS long as the UN keeps doing nothing, the world is on the right path. Carbon-trading schemes and UN-intervention are sure proof that... 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