Daily Headlines: Tuesday, January 8, 2013

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January 8, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National AIG May Join Suit Against Federal Government Over 'Unfair' Bailout Terms American International Group Inc., the insurer rescued by the U.S. government in 2008 with a bailout that ultimately totaled $182 billion, ... New York AG Can't Stop $115M AIG Settlement with Ex-CEO Greenberg, Others New York Attorney General Eric Schneiderman cannot stop a $115 million settlement between American International Group Inc. shareholders ... MetLife Granted Third Fed Extension to Submit Capital Plan The Federal Reserve has granted MetLife Inc a third extension to submit its capital plan as the insurer moves closer to completing the sale ... Monster Insurance Acquires Renewal Rights for OneBeacon Energy Book MarketScout, the national electronic insurance exchange and specialty MGA headquartered in Dallas, announced that MarketScout subsidiary, ... Marsh Launches Risk Transfer Product for Wage, Hour Claims With the number of wage and hour claims against employers on the rise, Marsh has launched a new insurance product that reimburses companies ... Supreme Court Considers Travelers Insurance Case on Limiting Class Actions The U.S. Supreme Court on Monday weighed whether to impose new limits on class-action lawsuits, as it reviewed whether a homeowner's ... A Look at New Insurance Laws Taking Effect in 2013 With 2013 just around the corner, a number of states are preparing to implement new insurance-related laws. Insurance Journal highlights... More National News East After the Storm: Insurance Agents E&O Lessons Learned More often than not, a second wave of claims against insurance agents by their clients follows a natural disaster. As parties find ... Northeastern Fishing Industry Hoping for Help With Sandy Storm Losses While Superstorm Sandy did highly visible damage to homes, boardwalks and roads, it also walloped the Northeastern fishing industry, whose ... N.Y.-Based Russell Bond Names Senior Broker Buffalo, N.Y.-based insurance wholesaler Russell Bond & Co. Inc. recently appointed Les Dalmata as senior broker operating from the Utica, ... Penn. Man Faces Jail Term for Setting House Fire for Insurance A western Pennsylvania man faces up to 16 years in prison when he's sentenced in April for setting his house on fire for the insurance ... More East News Midwest Missouri Regulator: Barton County Mutual Back on Solid Ground Financial conditions at Missouri's Barton County Mutual Insurance Co. are strong enough that the company can be released from state ... Marsh & McLennan Agency Acquires Michigan's McGraw Wentworth Marsh & McLennan Agency LLC (MMA), a subsidiary of Marsh Inc., has acquired McGraw Wentworth Inc., an employee group benefits consulting ... Arthur J. Gallagher Acquires Insurance Risk Managers of Missouri Arthur J. Gallagher & Co. has acquired Insurance Risk Managers of Missouri Inc. in St. Louis. Terms of the transaction were not disclosed. ... Monitor Liability Managers Promotes Lyngaas to Vice President Monitor Liability Managers LLC, based in Rolling Meadows, Ill., has promoted Lynette Lyngaas to the position of vice president of ... More Midwest News Southeast Florida Hospital Group to Offer Health Insurance to Patients The Florida Hospital group has announced it will begin offering patients health insurance starting in January 2014. The Daytona-based ... Mississippi's Palazzo Sought Katrina Aid, Voted Against Sandy Insurance Funds U.S. Rep. Steven Palazzo says he voted against funding to pay the Hurricane Sandy flood insurance claims because of the deficit, but as the ... Skelton-Morris Joins Keystone Insurers in Georgia Skelton-Morris Associates, a Hartwell, Ga.-based insurance agency, is the eleventh Keystone Insurers Group partner in Georgia. ... More Southeast News South Central HIIG Reorganizes Domestic Underwriting Operations Houston International Insurance Group (HIIG) has reorganized ts domestic underwriting operations, which going forward will be re-branded ... Willis North America Appoints Gilliam as Senior VP in Houston Office Insurance broker Willis North America has appointed Bill Gilliam as senior vice president, construction practice, in its Willis of Texas ... Louisiana Pie Maker Sues Fire Suppression Company, Insurers New Orleans pie maker, Simon Hubig Co. Inc., whose Louisiana plant was destroyed in a blaze six months ago, has sued the Kenner company ... Oklahoma Insurance Commissioner No. 2 User of State-Owned Plane Oklahoma Insurance Commissioner John Doak has crisscrossed the state in state-owned aircraft on his mission to educate the public and reach ... More South Central News West Bolton & Co. Acquires Preferred Specialty in Southern California Pasadena, Calif.-based Bolton & Co. acquired Preferred Specialty Insurance Services, an independent insurance agency providing insurance ... Barney & Barney Names Four New Principals in California San Diego, Calif.-based Barney & Barney LLC named four senior executives as principals of the firm in California. The new owners are: ... Utah License Plate Scanners Spark Legislative Debate License plate scanners in widespread use by law enforcement agencies hold the potential for misuse by divorce lawyers or police who use ... Tanker Hits Bay Bridge in Northern California A tanker struck the San Francisco-Oakland Bay Bridge on Monday, the Sacramento Bee newspaper is reporting. There were no immediate reports ... EPIC Names Parreira Principal in Central California Edgewood Partners Insurance Center named Terri Parreira as a property and casualty insurance producer and principal in its Fresno, Calif. ... G2 Insurance Taps Buchanan and Heyneker in Northern California David Buchanan and Toni Heyneker have joined G2 Insurance Services in Northern California. Heyneker joined as director of operations. ... More West News International Global Risk Experts Lack Confidence in Governments on Economies, Climate Fragile economies and extreme weather have combined to crank up the global risk dial in the past year, creating an increasingly dangerous ... Shipping Losses Up in 2012 But Down Over 10-Years: AGCS Report There have been 106 ship losses reported worldwide in the 12 months since last to November 25 - an increase of 91 ships from the previous ... ACE Group Names Andrade to Expanded Role for Overseas Business The ACE Group has named Juan Andrade, division president, Global Personal Lines and Small Commercial Insurance, to the additional post of ... Argo Group Establishes New Sidecar, Harambee Re Argo Group International Holdings, Ltd. has established Harambee Re 2013-1 Ltd for the 2013 accident year. This is the first sidecar ... More International News 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 Privacy & Security Coverage and Trends Richard Betterley, president of Betterley Risk Consultants, says cyber liability policies have... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums Agency In NC or SC Posted: Mon Jan 7 -- To Whom it May Concern: We are very interested in speaking with you about your possible move to NC My agency is headquartered in... DBCANADY Deposit into the trust account or operating account? Posted: Fri Jan 4 -- I would add that Option A, deposit to the Trust Account is correct; and in a perfect world, commission would not be moved to the operating... TheFieldman brightway insurance brokerage in florida Posted: Fri Jan 4 -- Personally, I think it is just a matter of choice and what your longterm goal is. I've always thought of the American Agency System as a... TheFieldman WC account Losses 189 X-mod hard class codes Posted: Wed Jan 2 -- All of the information posted on this subject has been good advice, But what I have found over many years handling some difficult company's... JTR National Agents Alliance? Legit or Keep Away? Posted: Sun Dec 30 -- After reading a number of these posts does any decently smart insurance person think that this is the answer to more income? OMG...it... surestart12345 CA Roofing Contractor WC Posted: Sat Dec 29 -- The only WorkComp market in CA for roofers is the State Fund. ets80 Go to Forums Reader Comments Oklahoma Mom Sues Over Twitter Picture of Unclothed Daughter Posted: Mon Jan 7 -- This is bullying, no question. As for the school adminstrators who want this lawsuit dropped because "it make the school look bad" - wake up... jet Slip-And-Fall Cases Tough to Make in Michigan Courts Posted: Wed Jan 2 -- Every once in a while we manage to do the right thing. sham Flood Insurance Funds Will Run Out Jan. 7 Without Congress OK: FEMA Posted: Thu Jan 3 -- Now, do you really want ObamaCare....? You need surgery and are waiting on the US House and Senate (Congress) to get a budget passed! They... Brass Balls How 'Fiscal Cliff' Package Deals with Business Taxes Posted: Mon Jan 7 -- Yes Libby, all my employees checks are a little lighter now that the Social Security has gone up and taken from their income. I seem to... Agent New Mexico Proposal: Breathalyzers In Drunk Drivers' Homes Posted: Fri Jan 4 -- I agree with putting the breath lock on the ignition in order for the car to start. But putting it in the house is a waste of money...unless... 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