Daily Headlines: Friday, December 13, 2013

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December 13, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National P/C Industry Supportive, But Cautious on Federal Insurance Office Recommendations Insurers, agents and brokers agree that welcome modernization and improvements when it comes to the regulation of insurance, but do not ... Safety Regulator Completes Crackdown on Bus Companies The U.S. Transportation Department, under scrutiny after a watchdog questioned its oversight of bus companies, pledged to do deeper ... Federal Auto Safety Regulator Strickland to Exit The top U.S. auto-safety regulator will step down, as his agency investigates fires in Tesla Motors Inc. electric cars and is behind ... Best Downgrades Issuer Credit Ratings of QBE's U.S. Subsidiaries; Affirms FSR A.M. Best Co. has downgraded the issuer credit ratings (ICR) to "a" from "a+" and affirmed the financial strength rating (FSR) of 'A' ... AIG in Talks to Sell Aircraft Leasing Unit ILFS to AerCap Insurer American International Group is in talks to sell its jet-leasing finance business to AerCap Holdings NV, according to reports. ... Ratings Recap: Loudun Mutual, Hastings Mutual, Ellington Mutual, American Safety RRG A.M. Best Co. has upgraded the financial strength rating to 'A' (Excellent) from 'A-' (Excellent) and the issuer credit rating to "a" from ... ACE USA Names Sutter Senior VP for Distribution Management ACE USA, the U.S. based retail operations of ACE Group, has appointed Carl Sutter as senior vice president, Distribution Management. Sutter ... Ascent Launches Medical Billings E&O Coverage for U.S. Healthcare Professionals Ascent Underwriting, the Managing General Agent (MGA) specialising in emerging risks, has launched a medical billings errors & omissions ... Anadarko, Kerr-McGee Liable for Pollution Costs of Spun-Off Paint Unit Tronox Anadarko Petroleum Corp. and its Kerr-McGee unit acted with "intent to hinder" when they spun off Tronox, the paint materials company that ... Federal Insurance Office Releases Long-Awaited Modernization Report After nearly two years of delay, the U.S. Department of the Treasury's Federal Insurance Office (FIO) today released its report on how to ... Local Leaders Planning for Climate Effects When it comes to climate change, local officials have a message for Washington: Lead or get out of the way. Local governments have long ... Advisen: Historians May See 2013 as 'Cyber Tipping-Point' Historians may look at the year 2013 as a "cyber tipping-point" the point at which businesses and governments finally realized the... Marsh Urges Energy Insurance Market to Rethink Cyber Clauses There have been many instances in the past where the property insurance market has responded to events that have... More National News East North-Central Penn. Officials: Higher Flood Insurance Rates Will Bankrupt Homeowners Residents and officials in flood-prone north-central Pennsylvania are warning that a new federal law ending subsidized federal flood ... Broker Pleads Guilty in NYC Charity Theft, Faces Up to 25 Years in Prison An insurance brokerage owner has admitted to helping a longtime Jewish community leader steal more than $7 million from a prominent New ... N.J. Bill Requiring New Homes Be Equipped With Fire Suppression Systems Advances In New Jersey, legislation sponsored by state Sen. Donald Norcross (D-Camden/Gloucester) that would increase public safety by requiring ... Plymouth Rock, Bunker Hill Offer Combined Home, Auto Coverage to Massachusetts AARP Members The senior citizen organization American Association of Retired Persons (AARP) has chosen Boston-based Plymouth Rock Assurance and its ... More East News Midwest FEMA Rejects Major Disaster Declaration for Indiana Gov. Mike Pence says the federal government has rejected Indiana's request that Howard County be declared a major disaster area because of ... Wounded Indianapolis Officer Sues Seller of Gun Used to Shoot Him An Indianapolis police officer's lawsuit against the original seller of a handgun later used to wound him might have to overcome a state ... Fatalities at Work Rise 28 Percent in Wisconsin The number of Wisconsin workers killed on the job increased 28 percent last year, in part because of an increase in workplace shootings, ... Druvenga Appointed to Grinnell Mutual Board Randy Druvenga of Waverly, Iowa, was appointed to Grinnell Mutual Reinsurance Company's board of directors to fill the unexpired term of ... More Midwest News Southeast Alabama Supreme Court Upholds $7.5M Defamation Jury Award The Alabama state Supreme Court has upheld a jury's decision to award an Iranian-born businessman $7.5 million in a 2011 defamation ... Gun Group, North Carolina Locals At Odds Over Firearms in Playgrounds When North Carolina lawmakers approved a bill expanding where concealed weapons are legally allowed, it created a dilemma for communities ... West Virginia Has Ticketed 286 Distracted Drivers Since July More than 280 motorists have been cited for distracted driving violations in West Virginia since a law went into effect July 1. The law ... Florida Insurer to Offer Electric Bicycle Coverage A Florida insurance agency has launched a new stand-alone insurance policy designed to cover electric-assisted bicycles. The Fort ... More Southeast News South Central OSHA Fines Geismar, Louisiana Plant $99K for 6 Safety Violations The U.S. Occupational Safety and Health Administration has proposed fines of $99,000 against Williams Olefins for a June explosion at its ... Probation Sentence in Texas Teen's Fatal DWI Wreck Stirs Ire A North Texas teen from an affluent family was sentenced to probation this week after he killed four pedestrians when he lost control of ... Austin Insurance Professionals' Donations to Capital Area Food Bank Will Feed 3,000 The Austin Association of Insurance Professionals (AAIP) collected food and money for the Capital Area Food Bank at their November ... Louisiana Citizens Insurance Depopulation Highest in Five Years The total policy count for Louisiana Citizens Property Insurance Corp. (Citizens) is dropping below 95,000 personal and commercial policies ... More South Central News West Elevator Company Cited In 49ers Stadium Death California safety officials have issued more than $50,000 in fines against an elevator company whose employee was killed while working at ... Anderson & Murison's Lechler 'Student of the Business' Horst Leonard Lechler, former president of Anderson & Murison in Pasadena, Calif. and past president of the American Association of ... Northern California Agent Nabbed For Bogus Insurance Certificates Property/casualty agent Rodger Edward Winkler, 64, a was arrested by Shasta County District Attorney investigators in Northern California ... Poms Names Valencia Vice President In New Mexico Poms & Associates Insurance Brokers Inc. named Andrew Valencia in the firm's New Mexico office as vice president of employee benefits. He ... More West News International AIR Estimates Windstorm Xaver Insured Losses: $963 Million to $1.92 Billion Catastrophe modeling firm AIR Worldwide estimates that insured wind losses from Extratropical Cyclone Xaver will range between €700 ... QBE Bond Risk Surges as U.S. Expansion Sours: Australia Credit Risk Bond risk on QBE Insurance Group Ltd. halved in the first 11 months of the year before surging this month as the company said it would lose ... RSA Slumps as CEO Simon Lee Resigns Amid Irish Investigation RSA Insurance Group Plc Chief Executive Officer Simon Lee resigned as the company bolstered reserves in Ireland. The shares fell as much as ... CGSC Names Baker as President of Creechurch International Subsidiary Cooper Gay Swett & Crawford (CGSC), the independent global wholesale and reinsurance brokerage group, announced the appointment of Phil ... More International News 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 New Insurance Agency Posted: Fri Dec 13 -- This is a lot of great information on how to start up a insurance agency! PMG Agency Floating Home GL in Oergon Posted: Thu Dec 12 -- Hi... I have a licensed contractor in Oregon building a new home on a floating platform which is permanently docked in a marina. This will... Paul_Graham Illinois Midwest Work Comp- tool mfg 3099 Posted: Wed Dec 11 -- My understanding is that Illinois Midwest will only work with contracted retail agencies. I used to have a few policies with them through a... ocbroker allstate office in upstate ny Posted: Mon Dec 9 -- The Allstate environment at the present time is rather bizarre with success or failure heavily dependent on your rates in the immediate... d's insurance store Trucking for hire with Losses Posted: Fri Dec 6 -- FYI_Progressive has a 500 mile radius restriction. No long haul. Miguelito Need WC for Gen Contractor in CA w/ lapse Posted: Thu Dec 5 -- Hi, Does anyone know of a WC Market for a CA- General Contractor with a lapse. Here are the deets: Currently lapsed since September Xmod:... EricCBIAIns Affordable Care Act: A Brief Explanation Posted: Thu Dec 5 -- Yes, there are a number of inaccuracies in here. And how exactly does the removal of lifetime limits lower costs? mrs dean wormer Go to Forums Reader Comments Family of North Carolina Teen Killed by Stray Bullet Sues Gunmaker Posted: Wed Dec 11 -- I don't own a gun (not against them) but isn't checking for bullets before cleaning a gun the first item on the "gun cleaning" checklist? SWFL Agent Frustrated Insurance Brokers Say They Can Help Obamacare If Allowed Posted: Tue Dec 10 -- How can anyone in the insurance industry not understand that IT systems do not work all the time and have mucho problems particularly during... idk Iowa Insurer Pokes Fun at Federal Website in Ads Posted: Mon Dec 9 -- "They've said more about the Affordable Care Act in one advertisement than in seven years of health care reform," Hatch said.... FFA Obamacare November Enrollment Tops 250,000; Sebelius Seeks Probe of Botched Launch Posted: Wed Dec 11 -- One of my step sons lost a G friend in High School to that exact situation. He was head over heels in love and got dumped for another woman.... FFA Group Health Plans Pay for 'Zero-Cost' Workers' Compensation Claims: Study Posted: Mon Dec 9 -- This is the same study that was tried two years ago and I debunked that one. The claims could have been rightfully denied or the employee... 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