Daily Headlines: Monday, December 16, 2013

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December 16, 2013 News By Region  National  International  East  Midwest  Southeast  South Central  West Video Today's Headlines National GEICO Passes Allstate to Become 2d Largest U.S. Auto Insurer: SNL Based on third quarter reports, GEICO Corp. has surpassed Allstate Corp. to become the nation's second-largest private auto insurer. ... AIG to Sell Aircraft Leasing Unit ILFC for $5 Billion American International Group Inc. agreed to sell the world's second-largest aircraft lessor to AerCap Holdings NV for $5 billion after a ... Toyota to Begin Talks to Settle Acceleration Claims Toyota Motor Corp. will begin talks to potentially settle hundreds of lawsuits alleging that defects caused some of its vehicles to ... Health Care D&O Rates Rise Over Obamacare Antitrust Concerns: Marsh Health care organizations paid significantly more for their directors and officers liability insurance in the third quarter of 2013 amid ... Best Affirms W. R. Berkley Corp. and Subs 'A+' Ratings; Outlook Stable A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa-" of the ... Ironshore's U.S. Energy Unit Launches Endorsements for Upstream Risks The Energy Unit of Ironshore's U.S. Specialty Casualty unit is now offering enhanced insurance coverage endorsements for upstream energy ... 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... Five Key Traits CEOs Look For When Hiring Talent (This article is based on a presentation made by Libby at the IICF Women in Insurance Global Conference in New York on... More National News East Cantor Fitzgerald, American Airlines Settle 9/11 Lawsuit Cantor Fitzgerald has agreed to settle a lawsuit against American Airlines Group Inc and its insurers over business and property losses ... Hoboken, N.J., Aims to Become National Model for Flood Mitigation The city of Hoboken, New Jersey, was nearly swallowed by the Hudson River during Superstorm Sandy last year. Three of its electrical ... Former N.J. Broker Sentenced for Misappropriating $660K in Premiums A former New Jersey insurance broker who misappropriated more than $660,000 in premiums owed to insurers has been sentenced to five years ... Philadelphia Claims Adjuster Charged With Stealing $700K A Philadelphia insurance adjuster has been jailed on charges he stole more than $700,000 from 29 successful claims made by people in the ... Jimcor Agencies in New Jersey Appoints Brokerage Specialist Jimcor Agencies announced the appointment of Christopher Hudson to the position of brokerage specialist. Hudson brings more than 13 years ... More East News Midwest Insurance Crime Bureau: 38% Drop in Questionable Claims in Michigan Questionable insurance claims in Michigan dropped by 38 percent from 2010 through 2012, according to the National Insurance Crime Bureau ... Illinois Company Faces Proposed $117K Fine for Unsafe Working Conditions Arlington Metals Corp. in Franklin Park, Ill., has been cited by the U.S. Department of Labor's Occupational Safety and Health ... Indiana Judge Dismisses Unions from Burned Man's Compensation Suit An eastern Indiana judge has dismissed two unions from a lawsuit against a transportation company, an insurance agency and several insurers ... HM Risk Appoints Young to Lead Construction Services Team HM Risk, a St. Louis, Mo.-based property/casualty insurance and employee benefits agency, has appointed Melinda Young as senior account ... Illinois Gets $1M in Federal Grants After Tornadoes Gov. Pat Quinn's office says federal aid for Illinois tornado victims has topped $1 million. The governor's office says that federal grants ... More Midwest News Southeast Florida Supreme Court Rejects Rule on Medical Malpractice Expert Testimony The Florida Supreme Court refused last Thursday to adopt a state rule reflected in a law that creates restrictions on doctors who can ... South Carolina Jury Awards $890K to Man Wrongly Accused by Condo Board A Clarendon County jury has awarded $890,000 in damages to a man after members of the governing board at his condominium wrongly identified ... Mississippi AG Charges 3 with Insurance Fraud Three Biloxi residents have been arrested and charged with insurance fraud, Mississippi Attorney General Jim Hood said. Hood's news release ... Ex-Insurance Agent Participated in West Virginia Arson Scheme A former West Virginia  insurance agent has admitted to his role in an arson scheme in Logan, according to a federal prosecutor. U.S. ... More Southeast News South Central Houston-Based Manufacturer Fined Nearly $200K for Safety Violations The U.S. Department of Labor's Occupational Safety and Health Administration has cited Piping Technology and Products Inc. in Houston for ... Guidance System Shows Promise of Safer Landings for Gulf Rig Pilots Imagine zooming from 200 feet in the sky onto a small green circle in the middle of a vast, dark ocean. Louisiana helicopter pilots do it ... Cost of North Texas Ice Storm Insured Damage Estimated at $30M Damage from this month's North Texas ice storm has reached at least $30 million in residential insured losses, according to an industry ... Former Insurance Company CEO Wants to Withdraw Guilty Plea A former insurance company chief executive wants to withdraw his guilty plea to bribing El Paso, Texas-area public officials, a plea that ... More South Central News West Hoag-Winkler Joins USI Colorado as Senior Vice President Laurie Hoag-Winkler has been named senior vice president, employee benefits practice leader, for USI Colorado. USI Colorado is the firm ... Alaska Snowmobile Driver Charged With Felony DUI A 29-year-old Wasilla, Alaska man suspected of driving a snowmobile down the Parks Highway has been charged with felony driving under the ... Autopsy: BART Workers in California Didn't Follow Safety Rules Autopsies conducted on two workers who were struck and killed by a Bay Area Rapid Transit train during a labor strike have revealed that ... More West News International Lloyd's Names Inga Beale as CEO; First Woman to Hold Post Lloyd's has announced the appointment of Inga Beale as its new CEO. She will take over on the first of January, when current CEO Richard ... IAG to Buy Wesfarmers Insurance Business for A$1.85 Billion Insurance Australia Group Ltd. agreed to buy Wesfarmers Ltd.'s insurance underwriting businesses in Australia and New Zealand for A$1.85 ... PCI Expresses Concern with 'Unnecessary' Regulation in ComFrame Draft The Property Casualty Insurers Association of America (PCI) has submitted formal comments to the International Association of Insurance ... Sompo Japan Considers Acquisition of U.K.'s Canopius Group Sompo Japan Insurance Inc., a unit of Japan's third-largest casualty insurer group by market value, is considering buying the U.K.'s ... Canada Considers Requiring Emergency Response Plans for Rail Oil Shipments Canada is considering classifying crude oil as a higher-risk, dangerous product, requiring emergency response plans for shipment by rail ... ABIR Comments on ComFrame Supervision, Int'l. Insurance Capital Standards In comments filed with the International Association of Insurance Supervisors (IAIS), the Association of Bermuda Insurers and Reinsurers ... More International News Insurance Journal Blogs Wisconsin Workers' Comp Insurers Propose to Rein in Costs States once again show the way to management and reform of public systems by having affected interests sit down together to work out a ... 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 Christmas Bonus? Posted: Mon Dec 16 -- Just curious what Christmas bonus other firms typically give out. We are a small Personal Lines firm and I am starting to think we are being... Rochambeau Broker fees Posted: Mon Dec 16 -- Are you receiving commission on that W/C policy? If so, you'll need to disclose that in your fee agreement. Big Dog Lakefront Motels Posted: Sun Dec 15 -- If you still need help feel free to get in touch, I have a few markets that love this type of risk. ABMCalifornia SEO and buying back links Posted: Sun Dec 15 -- I would never recommend buying links. If there's one thing I learned over the past five years it's don't ever try to trick Google into... ABMCalifornia errors and omision Posted: Sun Dec 15 -- Justin, I'm not sure what state you plan on doing business in but if you have not already been helped feel free to get in touch. I've taken... ABMCalifornia 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 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 Wal-Mart Heiress Gets Texas DWI Arrest Expunged Posted: Mon Dec 9 -- This lady needs to face Justice which Texas and Arkansas have failed miserably. Texas is backwash of America & their State is deep in debt... Joe 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 Probation Sentence in Texas Teen's Fatal DWI Wreck Stirs Ire Posted: Fri Dec 13 -- It starts out very innocently. Conservatives make the case that the top 1% of Americans are job creators and that reducing their taxes will... naksuthin 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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