Daily Headlines: Tuesday, November 5, 2013

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November 5, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National Morgan Stanley Says AIG May Sue Over Mortgage Investments Morgan Stanley, the sixth-largest U.S. bank by assets, said it may be sued by American International Group Inc. over mortgage-backed ... A Wary Supreme Court Allows Facebook's $9.5M Privacy Settlement The U.S. Supreme Court on Monday let stand Facebook Inc.'s $9.5 million class action settlement over allegations the social networking ... Travelers Cancels ExlService Outsourcing Contract, Citing Confidentiality Breach Travelers Cos., the property insurer in the Dow Jones Industrial Average, ended a contract with ExlService Holdings Inc. after the vendor's ... U.S. Regulator Unveils New Insurance Fee Guidelines A U.S. housing regulator said on Tuesday that it would ban some fees and commissions that borrowers are compelled to pay when their own ... Report: Warming Likely to Make Bad Things Worse Many of the ills of the modern world -- starvation, poverty, flooding, heat waves, droughts, war and disease -- are likely to worsen as the ... Gala, Insurance Industry Raise $2 Million for City of Hope The National Insurance Industry Council raised more than $2 million this year in the ongoing battle to cure cancer and diabetes, it was ... World Needs Insurance Industry to Be 'Bold' and 'Sexy' Now, PLUS Told It's time for the insurance industry to be "bold" and "sexy" in creating new insurance products and services to help the world deal with ... Confie Head on McKinsey: M&As Indy Agents' Salvation It may not be quite as dire as a "merge or die" mindset, but the message from the head of Confie Seguros is that independent agents should ... Judge Dismisses Suit Against Bank of America For Not Disclosing AIG Claims Bank of America Corp. has won the dismissal of an unusual lawsuit in which shareholders accused it of concealing a $10 billion fraud case ... Talent War Continues: XL Hires AIG's Miller to Oversee Global P/C Claims XL Group Plc, the insurer led by Chief Executive Officer Mike McGavick, hired David Miller as senior vice president and head of claims for ... Eyeing Affluent Market, Crestbrook Enters First State of Illinois with More to Come Well-to-do Illinois residents and their insurance agents now have another option when it comes to protecting their assets. Crestbrook... Berkshire-Hathaway Insurance Earnings Tumble in Q3 Although Berkshire Hathaway reported a 7.7 percent jump in operating income for the third-quarter of 2013, Berkshire's... More National News East Tough New DWI Laws Take Effect in New York New York Governor Andrew Cuomo announced on Nov. 1 that individuals who drive drunk with a conditional license will now face a felony, ... New Jersey Chiropractor Pleads Guilty in $89K Insurance Fraud New Jersey's Acting Attorney General John J. Hoffman announced that a northern New Jersey chiropractor pleaded guilty Monday to causing ... IICF Northeast Announces Featured Speakers for Year-End Fundraising Dinner The Insurance Industry Charitable Foundation (IICF) Northeast division announced three featured speakers who will be accepting grants for ... Confie Seguros Acquires DeFranco Insurance Agency in N.Y. Confie Seguros, a national group of personal lines insurance brokers, announced its acquisition of DeFranco Insurance Agency Inc. in ... Md.-Based Victor O. Schinnerer & Co. Names Senior Underwriting Manager Chevy Chase, Md.-based underwriting manager Victor O. Schinnerer & Company Inc. has named Steve Cohen as senior underwriting manager for ... Cook Maran & Associates Appoints Account Executive in New Jersey Cook Maran & Associates appointed Jeff Banasz as account executive. He is based in Cook Maran's Marlton, N.J., office. Prior to joining ... More East News Midwest Ag States Group Changes Name to CHS Insurance Services CHS Insurance Services LLC is the new name for agribusiness insurance broker Ag States Group, which provides a full line of ... Kansas-Based Chris-Leef General Agency Acquires H&W Insurance Chris-Leef General Agency Inc., in Shawnee Mission, Kan., has acquired H&W Insurance Services Inc., also located in Shawnee Mission at 4210 ... Signatures Filed for South Dakota Out-of-Network Insurance Measure Supporters of a South Dakota ballot measure that would prohibit insurance companies from restricting their customers' choice of ... Great American Insurance Promotes Kornesczuk to Divisional EVP Great American Insurance Group, based in Cincinnati, Ohio, announced it has promoted Jane Kornesczuk to divisional executive vice president ... More Midwest News Southeast Dunloup Creek Flood Plain Buyout Resumes in West Virginia People living in flood-prone communities in the Dunloup Creek flood plain in West Virginia have another opportunity to sell their ... Florida Approves NCCI's Revised Filing for 0.7% Workers' Comp Rate Increase Florida's Office of Insurance Regulation recently issued a final order approving the rate increase of 0.7 percent for workers' compensation ... 280,000 Kentuckians to Give Up Their Current Health Insurance Policies About 280,000 Kentuckians will have to give up their current insurance policies in the months ahead and enroll in alternatives that comply ... Confie Seguros Acquires Palm Springs, Fla.-Based City Insurance Agency Confie Seguros, a national group of personal lines insurance brokers, announced its acquisition of Insurance Group of American Inc. (d/b/a ... More Southeast News South Central Looming Flood Insurance Rate Hikes Worry Galveston Residents, business owners and officials in Galveston, Texas, are worried about the prospect of flood insurance premiums spiking due to ... Gerik Elected President of Texas Assoc. of Fire/Casualty Insurance Cos. Mike Gerik, executive vice president of the Texas Farm Bureau Insurance Cos., has been elected president of the Association of Fire and ... USG Insurance Services Adds Lee as Producer/Broker in Louisiana USG Insurance Services Inc., a national wholesaler and managing general agent, announced the expansion of its Louisiana operations with the ... More South Central News West NAIC: Alaska Implements SBS Alaska has implemented the State Based Systems, an electronic system owned by the National Association of Insurance Commissioners, it was ... Montana Woman Gets DUI Driving Daughter For Trick-Or-Treat A Billings, Mont. woman is charged with drunken driving while taking her 13-year-old daughter and two friends Trick-or-Treating. The ... More West News International Review of Zurich Finance Chief's Suicide Clears Ackermann Zurich Insurance finance chief Pierre Wauthier did not come under "undue pressure" before his suicide, the firm said on Monday, citing ... Moody's Downgrades CGSW Corporate Family Rating; CEO Responds Moody's Investors Service announced that it has downgraded the corporate family rating of Cooper Gay Swett & Crawford Ltd. (CGSC) to B3 ... Aon Risk Solutions and XL Bermuda Develop New Health Care Product Aon Risk Solutions, the global risk management business of Aon plc, and XL Group's Bermuda Insurance Operations, XL Insurance (Bermuda) ... Willis Unit Places $300 Million Cat Bond for Catlin Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings, the global risk advisor, ... Mayes Joins ANV to Lead New Technology E&O and Intangible Risk Team Netherlands-based ANV Holdings BV announced that Phil Mayes will lead its new Technology E&O and Intangible Risk Underwriting team. He will ... AXA ART Names Teixeira Country Manager for Brazil AXA ART Americas Corporation announced the appointment of Roberto Emilio Teixeira as Country Manager for its Brazilian activities. He "will ... Integro Canada Acquires Specialty Film Broker Multimedia Risk Integro (Canada) Ltd. announced its acquisition of Winnipeg-based Multimedia Risk Inc., an insurance brokerage, which specializes in ... More International News Insurance Journal Blogs Noonan: Insurers Can Cover Terrorism Privately A poll released last week by the Risk and Insurance Management Society -- the trade association for risk managers of corporations, ... More Blogs Join the Insurance Journal Network Insurance Journal TV Markets in Motion - Sports & Entertainment Venue The 650,000 square foot Honda Event Center in Anaheim, Calif. holds thousands of people at any... Watch Now A World With or Without TRIA Since the creation of the federal terrorism reinsurance program in 2002 until now the market... Watch Now Watch more videos at InsuranceJournal.tv New Discussions in the Forums CA liability coverage for product - Gopher Gasser Posted: Tue Nov 5 -- Hartford will cancel current GL policy if this product in production. The market from AgentSecure decline it. Let me try Bliss & Glennon. antagent New Phone Line System Help Posted: Tue Nov 5 -- I highly suggest you RUN AWAY from any VOIP proposal from Megapath. I just recently went through HELL with this terrible company and being... mhutch69 Travelers reducing commissions Posted: Sun Nov 3 -- Look around...I know of one company with realtime electronic submission with bound/underwritten quotes paying 17% NB in P&C. ...And they... OldIndyAgent Erie Insurance, feedback please. Posted: Thu Oct 31 -- I would stay away from Erie. Erie has appointed too many agents and their competitive position has taken a turn for the worse. Erie's... randrew54 7 day insurance policy Posted: Tue Oct 29 -- Justin, Unfortunately, that program is exclusive to LA Insurance. If you really want access to it, you could access it by becoming an LA... PiP becoming appointed Posted: Tue Oct 29 -- Try an Aggregator/Cluster group. By joining you get instant access to preferred markets, higher commissions and contingency opportunities... PiP It can happen to us too Posted: Tue Oct 29 -- We also had a claim, not theft related but our water heater burst in our office causing much damage. We tell... Pathwayinsurance Go to Forums Reader Comments Buffett Looking For Acquisitions as Berkshire's $40B Cash Pile Deemed 'Too Much' Posted: Thu Oct 31 -- Wow, if I was one of his employees I would love to receive a $1 million bonus. Just think how that would boost the economy through his... Baxtor Usage-Based Auto Insurance on Road to Becoming Standard Offering Posted: Wed Oct 30 -- For years, auto carriers used proxys to predict future loss history such as insurance scores, marital status, location, etc. So-called... Auto PM Courts Split Over Health Care Law Birth Control Coverage Mandate Posted: Mon Nov 4 -- How about Obamacaid since most of the state exchanges are sending the applicants to Medicaid instead of the vaunted ACA? Another good one... Agent N.Y. Expects 100,000 to Change Health Insurance Under Federal Overhaul Posted: Mon Nov 4 -- The "Affordable" Care Act just cost me another $7,800 a year starting Jan 1st. AND raised my deductible $2,000 annually and I can't afford... Big D Obama Administration Under Fire for Individual Health Policy Cancellations Posted: Thu Oct 31 -- I'm sorry, jw, we'll just have to agree to disagree on this hot topic. No matter how it is justified, an abortion is killing a baby. Period.... 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