Daily Headlines: Thursday, October 3, 2013

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October 3, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Tropical Storm Karen Forms in Gulf; Hurricane Watch in Effect Tropical storm Karen, the 11th named storm of the 2013 Atlantic hurricane season, has formed over the southeastern Gulf of Mexico, the U.S. ... Underwriting, Investment Gains Boosted P/C Insurers' Bottom Line in First Half 2013 Private U.S. property/casualty insurers' net income after taxes rose to $24.5 billion in first-half 2013 from $17.2 billion in first-half ... Improving Meadowbrook Ends Reinsurance Deal with Swiss Re Meadowbrook Insurance Group Inc. and Swiss Re have mutually agreed to terminate a quota-share reinsurance agreement that was put in place ... Court Grants BP Review of Disputed Claims Paid to Gulf Oil Spill Victims BP Plc persuaded an appeals court to order a re-examination of key terms of the 2010 Gulf of Mexico oil-spill settlement that the company ... U.S. Risk, Western World Launch Private D&O, EPL, Fiduciary Liability Program U.S. Risk Pro, a division national MGA and surplus lines wholesaler U.S. Risk Insurance Group, Inc., and Western World Insurance Group have ... Insurer, Cargo Firm Sue FAA Over Payments for Military Crash in Afghanistan National Air Cargo Group Inc. and its insurer sued the U.S. for breach of contract, saying the government failed to provide reimbursement ... Researchers Question Privacy of Usage-Based Auto Insurance A study by a handful of university professors in Colorado claims user-based insurance tracking programs installed in millions of vehicles ... Michael Jackson Wrongful Death Case to Change Tune for Entertainment Insurance When Britney Spears takes the stage this December for the first of a heavily hyped 100-show two-year residency at Planet Hollywood in Las ... Guy Carpenter Launches Specialty Practice for Excess and Surplus Lines Carriers Guy Carpenter & Co., a global risk and reinsurance intermediary specialist and member of Marsh & McLennan Cos., announced the launch of its ... Travelers Launching Low Cost, Segmented Product in New Personal Auto Strategy The Travelers Companies Inc. is adopting a new strategy to become more price-competitive in personal auto insurance. Travelers' CEO Jay... Moody's Cuts Endurance Specialty Ratings Down to A3 On Wednesday, Moody's Investors Service announced that the rating agency lowered the... More National News East Sandy Victims Get 6 More Months to File FEMA Doc Victims of Superstorm Sandy still fighting for a bigger insurance payment from the companies that administer the federal flood insurance ... Delaware's Corporate Courts on Brink of Big Change Two of the most important courts for resolving U.S. business disputes, Delaware's Court of Chancery and its state Supreme Court, may be on ... Maryland Automobile Insurance Fund Launches Installment Payment Program The Maryland Automobile Insurance Fund's (MAIF) -- the auto insurance market of last resort in Maryland -- said its Installment Payment ... AssuredPartners Acquires AJM Insurance in New Jersey AssuredPartners of New Jersey, an AssuredPartners Inc. platform operation, acquired Anderson-Jackson-Metts (d/b/a/ AJM Insurance). AJM ... Ex-Penn State Coach Sandusky's Conviction Upheld on Appeal Former Pennsylvania State University Coach Jerry Sandusky, who was sentenced to at least 30 years in prison for sexually abusing boys, ... More East News Midwest Ohio BWC Distributing Final $81.7 Million in 'Billion Back' Rebates The Ohio Bureau of Workers' Compensation (BWC) announced that $81.7 million is headed to more than 2,000 Ohio employers, completing the ... Arthur J. Gallagher & Co. Acquires Kansas-Based RJ Dutton Insurance brokerage and risk management services firm, Arthur J. Gallagher & Co., announced it has acquired RJ Dutton Inc. (RJ Dutton) of ... Hylant, Liazon to Offer Private Benefits Exchange Toledo, Ohio-based insurance brokerage firm, Hylant, has entered into a partnership with Liazon, operator of the Bright Choices Exchange, a ... More Midwest News Southeast Law Enforcers Look to Strengthen Mississippi ATV Law The law on all-terrain vehicle use in Mississippi has gotten a little tighter over the past three years. Helmets are now required, as are ... In Majority of Alabama Traffic Deats, Victims Did Not Wear Seat Belts More than half of the people killed so far this year in traffic accidents on Alabama highways were not wearing seat belts when they were ... Florida Medical Malpractice Consent Rule Preempted By Federal Law, Says Judge A federal judge has struck down a key Florida medical malpractice law that required a patient to allow a defending physician's attorney to ... Answer Financial Relocating Main Tennessee Sales Center to Knoxville Online insurance agency Answer Financial Inc. is relocating its main Tennessee call center to West Knoxville. The office is slated to open ... More Southeast News South Central State Farm Raising Louisiana Homeowner Insurance Rates State Farm is raising Louisiana homeowner rates an average of 8.7 percent statewide for its nearly 308,000 policyholders. According to ... Texas Workers' Compensation Health Care Networks Show Improvements Workers' compensation networks certified by the Texas Department of Insurance (TDI) continued to show improvements in medical costs, ... 13 CAA Members Recognized as 2013 'Best Practices' Insurance Agencies Austin, Texas-based Combined Agents of America LLC (CAA) announced that 13 of its 52 member agencies have been recognized as 2013 "Best ... More South Central News West Baker: California's Workers' Comp Reform Showing Signs of Progress Ten months after "historic reforms" were made to California's workers' compensation system there is evidence that the changes are taking ... Oregon Man Hurt in Community Service Sues County A man who suffered an eye injury clearing trails as part of court-ordered community service has sued Polk County, Ore. saying it failed to ... More West News International U.K. Regulator Scrutinizes Impact of Capital Influx on Insurers British regulators are scrutinizing the impact of the wave of capital from investors such as hedge and pension funds on the insurance ... Willis Sponsors Antarctic Research to Gauge Climate Change Impact Willis Group Holdings announced that it is sponsoring a scientific program in Antarctica from November 2013 to January 2014 to "better ... Allied World Europe Acquires Markel Int'l.'s Aviation Renewal Rights Allied World Assurance Company Holdings, AG and Markel International announced that they have entered into an agreement for Allied to ... Julia Graham is New FERMA President Julia Graham, Director of Risk Management and Insurance for the global law firm DLA Piper, acceded to the position of president of the ... Former FERMA President Luzzi Joins Broker MDS for Herco Global On the same day that he turned over the presidency of FERMA to Julia Graham, London-based broker MDS announced that "Jorge Luzzi has been ... More International News Insurance Journal Blogs Burand's Agency E&O Blog: Tip #47 Policy Change Requests Can Only Be Made if Requesting Party Has Authority/Insurable Interest. Many years ago when I first entered the ... More Blogs Join the Insurance Journal Network Insurance Journal TV Insurance Law, Regulation - Jim Wrynn Brings his Experience to the Private Sector James J Wrynn, Esq. served as New York's Superintendent of Insurance from 2009 to 2012, when... Watch Now Swiss Re's Chief Economist Sees GDP Growth Swiss Re's chief economist Kurt Karl sees some light at the end of the tunnel for the world's... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums New lead model question - could cost per sale work? Posted: Thu Oct 3 -- Hi lonestar, Again, thanks very much for the candid reply. This is a really interesting conversation, and frankly not at all what we... indexcos What Would Your Veteran Self, Tell Your Newbie Self... Posted: Thu Oct 3 -- Lonestar, Sound advice, and much appreciated. I've already started reaching out to some mortgage broker friends of mine. I'm... lonestar Declination Statement - Earthquake Coverage Posted: Wed Oct 2 -- Looking for opinions on the best way to phrase a Declination Statement when offering earthquake coverage and the client declines the... sgoebel Peer-to-Peer Website & Self-Insuring Users Posted: Wed Oct 2 -- 856 Views on the first posting and no replies obviously means there is no hope. Re-posting doesn't help. Most of us see way too much work... yoyowordup Travelers reducing commissions Posted: Wed Oct 2 -- It is interesting to see everyone's perspective on this. Some agents are of the opinion that the movie ending has already been determined,... lonestar Peer-2-Peer Musical Instrument Rental Insurance (SV Startup) Posted: Tue Oct 1 -- 793 Views, no replies? Does that mean there's no hope? Thanks. tobytobitobe Non-for-profit Volunteer Coverge Posted: Tue Oct 1 -- To yoyowordup: Automobile accident would go the the automobile carrier first for the volunteer, I think, unless something is in place for... des5500 How would you insure this risk? Overseas traveling Posted: Mon Sep 30 -- I have a risk that I am looking for some GL coverage for. Here is the risk: The insured will be taking custodial posession of a one to two... titan77 My CPCU journey - almost finished..... Posted: Mon Sep 30 -- Margo - check out the Institutes website. They have a chart that shows what designations will give you credit. I know that by having my CLU... bjwestner Go to Forums Reader Comments Federal Government Shutdown Effect on P/C Insurance Industry Posted: Mon Sep 30 -- I am so weary of the GOT's antics. Watching the way the world markets have reacted the last few weeks, if we give them another year like... chasholman Rep. Waters, Author of Flood Reform Act, Calls for Delay in Implementation Posted: Mon Sep 30 -- Her names on the flippin bill and she didn't understand it....Go figure. And now they have your healthcare. Good luck middle class, you have... jack New York's Lawsky Sees Obamacare as Model to Simplify Home Insurance Posted: Tue Oct 1 -- The title of this article almost made me spit out my coffee! Only in NY! youngin' Insurers' Private Firefighters Give Wealthy Homeowners Extra Protection Posted: Mon Sep 30 -- They pay for the service and deserve it! See democrat comments below. 1. that's not fair 2. they stole their wealth 3. they should pay for... jack Louisiana State Treasurer Suggests State-Run Flood Insurance Plan Posted: Fri Sep 27 -- There is a way to help subsidize flood rates. The Federal government could require every home owners policy cover flood. Like stated, flood... 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