Friday, November 2, 2012

Daily Headlines: Friday, November 2, 2012

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Insurance Journal Daily Headlines
November 2, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insurance Agents and the 2012 Election: Interview with Big I CEO Rusbuldt

When it comes to the 2012 presidential election, insurance agents have, as industry insiders like to say, "skin in the game." In addition ...

Controversy Over Hurricane Deductibles May Just Be Beginning

When the National Hurricane Center declared Sandy a "post-tropical storm" just before it made landfall, a lot of homeowners across New ...

The Hartford's Q3 Profit Soars; CEO Calls Hurricane Sandy 'Manageable Exposure'

The Hartford Financial Services Group reported $401 million profit for its third quarter, up from $60 million profit posted during the same ...

Coverage Analysis: Sandy and Contingent Business Income Losses

Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued ...

Liberty Mutual Has $465M Q3 Profit, a Swing From $112M Loss a Year Ago

Liberty Mutual Insurance reported this week $465 million profit for its third quarter, a swing from a loss of $112 million a year earlier. ...

Lockton Affinity Launches Program for Overseas Government Contractors

Lockton Affinity has launched LATITUDE, a new insurance program to help smaller government contractors protect employees working overseas. ...

AIG Profit Gains on Investments; P/C Earnings Fall But Pricing Improves

American International Group Inc. earned a larger-than-expected profit during the third quarter, due in part to big gains on its investment ...

From MyNewMarkets.com Verisk Insurance Solutions Enhances Foreclosure Alert Product

Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics has added an enhancement to its Foreclosure Alert that identifies if...
leases and contracts 2-part live webinar series from Academy of Insurance
East

Scope of Hurricane Sandy Widens, Death Toll Rises

From New York City's Staten Island to the popular beach towns of the Jersey Shore, rescuers and officials on Friday faced growing evidence ...

Hurricane Sandy Takes Toll on New York's Small Shops, Restaurants

Pumping water out of basements and yanking rotten food out of refrigerators, shop and restaurant owners said on Thursday they wonder when ...

Is Global Warming to Blame for Superstorm? Scientists Weigh In

Climate scientist Michael Oppenheimer stood along the Hudson River and watched his research come to life as Hurricane Sandy blew through ...

Insurers, Brokers Say Some Northeast Offices Still Closed Due to Sandy

Superstorm Sandy has affected operations of numerous businesses in the Northeast, including those of insurers and brokers. New Jersey ...

Big Business Interruption Losses Looming After Sandy

As the insurance industry makes assessments for superstorm Sandy's impact, analysts say there is now the potential for significant business ...
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Midwest

Ohio Agent Tax Lien Program Nets $5.3 Million Since 2011

Ohio Lt. Governor and Dept. of Insurance Director Mary Taylor announced that an agent tax lien program that has collected more than $5.3 ...

Court: Illinois Teen Eligible for UIM Coverage Under Dad's Business Auto Policy

A teen injured in a car wreck is entitled to underinsured motorist coverage (UIM) under her father's business auto policy even though the ...

AAA Minneapolis Names Minnesota DOT's Sorel as CEO

AAA Minneapolis has named Tom Sorel, commissioner of the Minnesota Department of Transportation (MnDOT), as its new president and chief ...
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Southeast

Kentucky Judge Grants Christians-Only Medi-Share Reprieve Until January

A Christians-only health insurance plan will be allowed to continue coverage for Kentucky members until Jan. 1. Franklin County Circuit ...
South Central

Former Texas Agent Gets 10 Years, Must Repay $9.3M for Fraud

A former North Texas insurance salesman has been sentenced to 10 years in prison and must repay more than $9.3 million in a fraud case. ...

Falling Trees: Act of God or Covered Event?

Although not nearly on the scale of Hurricanes Katrina and Rita in 2005, Hurricane Isaac caused a surprising amount of damage in Louisiana ...

Peters Joins AbleCo Insurance in Dallas

Dallas based independent insurance agency, AbleCo Insurance, announced that Dave Peters has joined the agency as senior vice-president of ...

AMERISAFE Names Morris Lead Director

AMERISAFE Inc., a DeRidder, La.-based specialty writer of high hazard workers' compensation insurance, announced that Jared A. Morris has ...
West

January Trial Set For Former Colorado Insurance Firm Executive

The former chief executive of Van Gilder Insurance Corp. in Colorado is set to go to trial Jan. 2 on five counts of insider trading. The ...

Utah Man Charged In Alleged Texting Crash Death

An eastern Utah man faces charges after allegedly texting and driving when he hit and killed teenager in Vernal. Charges have been filed ...

Cell Phone Ban For New Mexico State Vehicles Considered

New Mexico officials are considering an outright ban on the use of cell phones in state vehicles. The proposal is among nearly 50 changes ...

Insurer Says It Won't Cover Armed Arizona Posse

An insurance pool that covers sheriff's volunteers in 11 of Arizona's 15 counties is changing its policies to exclude an armed volunteer ...
International

Investors Skirt New Shorting Curbs to Bet on European Union Woes

New rules to stop speculators making Europe's debt crisis worse by betting on government bond defaults are prompting investors to find ...

Ireland Sentences Failed Tycoon Quinn to Jail

Ireland sentenced former billionaire Sean Quinn to jail on Friday for failing to disclose assets he was hiding abroad, completing the fall ...
Secrets of insuring restaurants webinar from Academy of Insurance


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Big I's Bob Rusbuldt: Agents, the 2012 Election and the Fiscal Cliff

Bob Rusbuldt, president and CEO of the Independent Insurance Agents and Brokers of America,...
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Market Outlook: Stable But Not Robust

Calling today's market a "hard market" would be going too far, says Michael Miller, president...

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New Discussions in the Forums

Claims
Posted: Fri Nov 2 -- It is all under public liabilities. Well the lessor is responsible for any... shannonwells830
Demand for Medical Payments
Posted: Fri Nov 2 -- Any accidents that happen in a bar that resulted an injury should be covered by the owner of the property that is why there is such thing as... shannonwells830
Buying IA - Current Multiplier?
Posted: Wed Oct 31 -- There are so many variables! Agency Equity is right... hire a skilled professional that knows how to value the independent agency. Whenever... Swymmer
Premium Financing for life and D.I.
Posted: Wed Oct 31 -- I am looking for a premium finance company that will finance life and DI premiums. I have designed a niche Surplus Lines DI product that is... Swymmer
SEO and buying back links
Posted: Wed Oct 31 -- Buying links will not do any good in your site, with the big algo change in the past 6 - 9 months common link building techniques will only... johnywhite
brightway insurance brokerage in florida
Posted: Tue Oct 30 -- I think 45% is really quite high for Brightway agents to pay for "back office" service and other features of the franchise. Perhaps 25% or... riverman38
Non-profit
Posted: Tue Oct 30 -- I'm wondering what other P&C underwriters think of an account I'm familiar with. The risk makes several types of products related to... angleblue63

Reader Comments

Penn. Woman Arrested for Allegedly Adding Coverage While in Ambulance
Posted: Fri Oct 26 -- Yes Libby, I can tell the difference between cheering and applause and thunder unlike you and Planet. Crowds attending Romney speeches are... Agent
New York, New Jersey Want Washington to Pay More Storm Costs
Posted: Thu Nov 1 -- "They have greater resources. They can print money; we can't do that here. And given the fact this is not just a New York disaster,... youngin'
Wrongful Death Claims Filed In California Deputy Shooting
Posted: Thu Nov 1 -- Explain to me why his entire family is filing a "lawsuit" was he the sole provider for his family? How much money was he going to earn his... incognito
P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt
Posted: Wed Oct 31 -- Well, it's a good thing the NFIP is well funded, self-sustaining, and actuarially sound. youngin'
Insurer Drops Nebraska Man's Policy Due to Police Dog, Then Apologizes
Posted: Mon Oct 29 -- Can we be a little more creative with the headlines? "American Family takes on a dangdog expression, when officer howls about cancellation."... Original bob

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October 22, 2012
Current Issue
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Thursday, November 1, 2012

Studies Show This Heart-Pounding Exercise Key to Great Fitness

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Interval Training and Intermittent Fasting Studies Show This Heart-Pounding Exercise Key to Great Fitness
More than fitness... It's also a boon to insulin sensitivity, glucose tolerance, and natural production of HGH... and a boon to your schedule, too. Plus 6 other benefits. Includes a plan to harmonize this with what and when you eat...

Exercise Improves Effects of Stroke: Study
If you or a loved one has had a stroke, exercise may be a simple way to drastically improve your physical and mental functions.
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Daily Headlines: Thursday, November 1, 2012

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Insurance Journal Daily Headlines
November 1, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Eqecat Doubles Insured Loss Estimate for Sandy to $10-20 Billion

Catastrophe risk modeling firm Eqecat doubled its insured loss estimate range for Sandy, to $10 billion to $20 billion, with the total ...

Huge Drug Recall Latest Fallout in Meningitis Outbreak

Ameridose, a sister company of the U.S. pharmacy linked to a meningitis outbreak that has killed 29 people, announced on Wednesday a ...

Allstate Reports Higher Q3 Profit; Expects 'Significant But Not Material' Sandy Losses

Home and auto insurer Allstate Corp. reported a larger profit for the third quarter on a decline in disaster losses and improving margins, ...

Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P

Standard & Poor's Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty ...

From MyNewMarkets.com Verisk Insurance Solutions Enhances Foreclosure Alert Product

Verisk Insurance Solutions – Underwriting, a unit of Verisk Analytics has added an enhancement to its Foreclosure Alert that identifies if...
Join us Nov 7 for Secrets of Insuring Restaurants: Restaurant Claims Review from Academy of Insurance
East

Sandy Costing New York City $200 Million a Day

The aftermath of super storm Sandy is costing New York City up to $200 million a day in permanently lost economic activity, including ...

New York, New Jersey Want Washington to Pay More Storm Costs

New York state on Wednesday asked the U.S. federal government to pay all the costs of cleaning up and repairing damage from massive storm ...

N.Y. Gov. Cuomo: New Yorkers Won't Have to Pay Hurricane Deductible for Sandy

New York Governor Andrew Cuomo announced Wednesday that New York homeowners will not have to pay potentially large hurricane deductibles on ...

Connecticut Seeks Premium Payment Grace Period for Storm Victims

The Connecticut Insurance Department issued a bulletin encouraging insurers to provide "an extended grace period" with regard to premium ...

No Hurricane Deductibles for Sandy Claims in New Jersey, Maryland

Hurricane deductibles will not be applicable for Sandy-related claims in New Jersey, the state where the superstorm made landfall late ...

Hurricane Deductibles Will Not Apply for Sandy-Related Claims in Conn.

The Connecticut insurance department issued a notice to the insurance industry Tuesday, alerting the industry that companies may not impose ...

Flood Insurance Still Relatively Rare in Northeast

Many homeowners who suffered losses because of flooding from Hurricane Sandy are likely to find themselves out of luck. Standard homeowners ...
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Midwest

Minnesota Contractor Gets 6 Years for Arson Conviction

A Duluth, Minn., building contractor convicted of vandalizing a client's duplex over a billing fight has been sentenced to almost seven ...

South Dakota Burn Victim Sues Nebraska County, Village

A South Dakota man who was burned in a controlled grass fire in the Nebraska border town of Whiteclay is suing local authorities for ...

2-Story Waves on Great Lakes Halt Cargo Shipping

Cargo shipping was at a standstill on Oct. 30 on the Great Lakes as superstorm Sandy churned waves up to two stories high, forcing crews to ...
leases and contracts 2-part live webinar series from Academy of Insurance
Southeast

Florida Court Weighs When Not Meeting Policy Terms Means Coverage Forfeiture

Florida's high court is debating whether a driver forfeited her uninsured motorist coverage by refusing to meet the insurer's specific ...

Kentucky Cease Order for Christians-Only Health Plan Goes Into Effect

Members of a Christians-only health insurance plan will lose their coverage on Thursday under a judge's order to cease operations. Franklin ...
South Central

Oklahoma Prepares for Open Carrying of Firearms

With Oklahoma preparing for a much-debated new law that allows people to carry their previously concealed firearms out in the open, state ...

Oil Spill Claims Process May Sink Gulf Coast Shrimp Processors

With looming legal deadlines related to the 2010 BP oil spill, dozens of shrimp processors along the Gulf Coast face a difficult dilemma, ...
West

Wrongful Death Claims Filed In California Deputy Shooting

Some $61 million in wrongful death claims have been filed by the family of a California man shot to death in April by a Stanislaus County ...

Father Files Northern California School District Discrimination Suit

The father of a black teenager has filed a racial discrimination lawsuit against a Northern California school district because an employee ...

Montana School District Settles Rape Lawsuit

The Billings school district in Montana and its insurance carrier have agreed to pay nearly $91,000 to the family of a former Billings ...

Climatologist: Conditions That Brought Sandy May Stick Around

Fresh on the heels of Hurricane Sandy's destruction historical climatologist Evelyn Browning-Garriss on Wednesday said the weather ...
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International

Barclays Facing New U.S. Investigations

Barclays, already rocked by an interest-rate rigging scandal, on Wednesday disclosed new U.S. regulatory investigations into the bank's ...

China's Ping An Insurance Reports Profit Up 20.6%

Ping An Insurance Co. of China said  its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ...

Haste Named Lloyd's Deputy Chairman

Lloyd's has appointed Andy Haste as senior independent deputy chairman on the Council of Lloyd's. Haste, whose three-year term starts on ...

London Broker Miller Names Plato to Marine Hull Team

Miller Insurance Services in London has bolstered its marine hull capabilities with the appointment of David Plato from Alston Gayler. ...

Bermuda's SAC Re Adds 4 to Property Reinsurance, Finance, Risk Management Teams

S.A.C. Re Ltd. has filled several key management posts in its property reinsurance, finance and risk management teams. Kathleen Reardon has ...

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Market Outlook: Stable But Not Robust

Calling today's market a "hard market" would be going too far, says Michael Miller, president...
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No Hard Market Until Economy Improves

While many in the industry see a hard or at least firming market, Alan Jay Kaufman is not...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Buying IA - Current Multiplier?
Posted: Wed Oct 31 -- There are so many variables! Agency Equity is right... hire a skilled professional that knows how to value the independent agency. Whenever... Swymmer
Premium Financing for life and D.I.
Posted: Wed Oct 31 -- I am looking for a premium finance company that will finance life and DI premiums. I have designed a niche Surplus Lines DI product that is... Swymmer
SEO and buying back links
Posted: Wed Oct 31 -- Buying links will not do any good in your site, with the big algo change in the past 6 - 9 months common link building techniques will only... johnywhite
brightway insurance brokerage in florida
Posted: Tue Oct 30 -- I think 45% is really quite high for Brightway agents to pay for "back office" service and other features of the franchise. Perhaps 25% or... riverman38
Non-profit
Posted: Tue Oct 30 -- I'm wondering what other P&C underwriters think of an account I'm familiar with. The risk makes several types of products related to... angleblue63
Motor Cycle dealer WC (CA)
Posted: Mon Oct 29 -- RIC is now one of the access points for smaller brokers that no longer have their own State Fund appointments. Two authorized broker access... Santa Rosa Ins Broker

Reader Comments

Health Insurers Nervous Over Prospect of Romney Victory
Posted: Tue Oct 30 -- I see and Obama alway's tells us the truth? Bob
Penn. Woman Arrested for Allegedly Adding Coverage While in Ambulance
Posted: Fri Oct 26 -- Yes Libby, I can tell the difference between cheering and applause and thunder unlike you and Planet. Crowds attending Romney speeches are... Agent
$450K For Fired Southern California Worker Who Tattled On Cocaine Use
Posted: Thu Oct 25 -- Don't forget about the "pre-lawsuit" period where a claim is filed giving notice of intent to sue. If there's any time frame required to... Big Mike In CA
Tax Penalty to Hit 6 Million Who Don't Buy Health Insurance by 2016
Posted: Mon Oct 29 -- FFA, There is another story hot off the press. The wonderful Planned Parenthood organization, you know the one we the taxpayers support... Agent
Insurer Drops Nebraska Man's Policy Due to Police Dog, Then Apologizes
Posted: Mon Oct 29 -- Can we be a little more creative with the headlines? "American Family takes on a dangdog expression, when officer howls about cancellation."... Original bob

Current Issue

October 22, 2012
Current Issue
Top Commercial Lines Agencies; Law Firm Directory; Commercial Property; Insurance Geek Issue - What's New in Technology?

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Enter Your E-mail

How to Advertise

For information about advertising on this newsletter and Insurance Journal magazines, contact Julie Tinney at (800) 897-9965 x148.
View our Media Kit for advertising options in our magazines and online properties.
Insurance Journal
3570 Camino del Rio North, Suite 200
San Diego, CA 92108
(800) 897-9965
Copyright © 2012 by Wells Media Group, Inc.

New Markets Daily: November 1, 2012

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November 1, 2012

Security Guards

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States: All except NE
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Market Announcements

Stand Alone Excess Liability

Francis L. Dean & Assoc is now offering excess liability coverage for sports, recreation and special events. Limits up to ...
States: All states

Churches

TAPCO Underwriters, Inc. is the Logical Choice. Through TAPCO's exclusive call-center service model, quotes, applications and ...
States: CA, DC, DE, FL, GA, MD, NC, NJ, PA, SC, TN, TX, VA

Energy Consultants Liabilities Program

This program provides various liability coverages to Energy industry consultants. Available coverages include general liability, ...
States: AK, AZ, CO, GA, ID, LA, MI, MT, ND, NE, NJ, NM, OH, OK, PA, TX, VA, WY

cruceSeguro

cruceSeguro offers Auto Liability Coverage for Mexican registered vehicles crossing the border into the USA. Policy inlcudes ...
States: AZ, CA, NM, TX

Feature Articles

Verisk Insurance Solutions Enhances Foreclosure Alert Product

Verisk Insurance Solutions - Underwriting, a unit of Verisk Analytics has added an enhancement to its Foreclosure Alert that identifies if a... Read more

Markets in Motion: Insuring Wineries

The wine industry is a large and diverse market, and it just keeps growing. The U.S. is currently the largest wine maker in... Read more

Travelers Will Continue to Seek Improved Pricing: CEO Fishman

The Travelers Companies Inc. said its Business Insurance segment pricing continued to rise in the third quarter - led by workers'... Read more

Latest Forums

Newbee Looking for a solid MGA in L.A. Area -Commercial & Personal Lines

I am a newly licensed agent with a large number of contacts and well-established relationships with commercial real state ...
by dave100 on Wed Oct 31, 2012

WC Class Code 9096- CA

please advise if you can write this wc class code 9096- ca.
by gursikh on Mon Oct 29, 2012

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