Thursday, August 30, 2012

Daily Headlines: Thursday, August 30, 2012

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Insurance Journal Daily Headlines
August 30, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Isaac Heads North After Drenching U.S. Gulf, New Orleans

Tropical storm Isaac is expected to weaken further as it heads north on Thursday, after causing significant damage to the U.S. Gulf Coast ...

Citigroup Settles Securities Lawsuit for $590M

Citigroup Inc. agreed to pay $590 million to settle a shareholder lawsuit accusing it of hiding tens of billions of dollars of toxic ...

Janssen Pharmaceuticals Settles Deceptive Advertising Practices Suit for $181M

Janssen Pharmaceuticals Inc. and its parent company Johnson & Johnson have agreed to resolve charges of improper marketing and ...

Consumer Perception of Progressive at Lowest Level in 4 Years: YouGov

Progressive Insurance's mid-August social media-driven controversy has brought the company to its lowest U.S. consumer perception levels in ...

All Risks, General Star Enhance Insurance Agents E&O Program

All Risks, Ltd. has enhanced its exclusive insurance agents errors & omissions  program through General Star Management Co.  ...

NAS Launches Enhanced E&O Coverage for Healthcare Consultants

NAS Insurance Services has enhanced their E&O program for healthcare facilities with more coverages for consultants. The E&O ...

From MyNewMarkets.com New National Parks' Insurance Requirements Ignite Controversy

A National Parks Service (NPS) decision to hike their required insurance liability limits by 1,000 percent has some outfitters and guides,...
Love the Retail Agency you work for? Click Below to Nominate It for IJ's Best Agencies to Work For! Click here for more information.
East

Maine Regulator Highlights New App That Helps Motorists in Accidents

Maine's top insurance regulator is highlighting a new mobile application that can helps motorists take the guesswork out of auto accidents. ...

The Hartford Promotes Bateman to Senior VP and Controller

The Hartford Financial Services Group has promoted Robert Bateman to senior vice president and controller of the company. Bateman succeeds ...

Irwin Siegel Agency Appoints Assistant VP in New York

Irwin Siegel Agency recently appointed Ken Chappell as assistant vice president of business development. He is based in the firm's ...

Pennsylvania Hospital, Ohio parents Settle Organ Donor Suit

An Ohio couple has settled their lawsuit against a northwestern Pennsylvania hospital they accused of killing their son to harvest his organs for transplant ...
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Midwest

Michigan Cherry Growers Getting New Crop Insurance Options

U.S. Sen. Debbie Stabenow says Michigan's cherry growers are getting new crop insurance options. The Michigan Democrat serves as head of ...

Keystone Mutual Adds Bargatze as VP-Sales, Western Region

Missouri-based medical professional liability insurer, Keystone Mutual Insurance Co., has hired L. Richard Bargatze, Jr. as vice president ...

Nebraska, Iowa Officials Watch For Contaminated Corn

Farmers, crop inspectors and grain elevators in Nebraska, Iowa and other corn-producing states are keeping an eye out for corn contaminated ...
Top 5 Mistakes When Hiring Producers - New training from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
Southeast

Allstate Sues Florida Neurologic Clinic for $7.6M in False Claims

A Florida neurologic clinic that specializes in treating patients with traumatic brain and spinal cord injuries is being sued by a major ...

Florida Governor Opens Disaster Fund

Florida Gov. Rick Scott has announced that the state is activating Florida's disaster fund to help residents who suffered property losses ...

Isaac Giving Local Researchers a Chance to Test New Tracking Model

Isaac is giving a team at Jackson State University in Mississippi the opportunity to test a tracking model that can predict a storm's path ...

Tennessee Opens New Unit to Investigate Identity Theft Crimes

Tennessee's safety department is creating a new unit to investigate identity theft crimes that local law enforcement agencies don't have ...
South Central

Brownsville Named Safest Driving City in Texas

Brownsville once again tops the list as the safest driving city in Texas, according to the eighth annual "Allstate America's Best Drivers ...

BenefitMall Announces Organizational Changes

Dallas-based provider of integrated payroll and employee benefit products and services, BenefitMall announced that Charles Lathrop will be ...

Arkansas at Risk for Flash Floods, Tornadoes from Isaac

A flash flood watch covers much of Arkansas as what is now Tropical Storm Isaac lumbers toward the state. Forecasters also said Isaac's ...

Citizens Advised to 'Hunker Down’ as Isaac Pounds Louisiana

"Stay hunkered down." That's the message local, state and federal officials are telling the people of New Orleans and the state of ...
West

SullivanCurtisMonroe Adds Lupia in Southern California

SullivanCurtisMonroe Insurance Services LLC named Chad Lupia, a property casualty consultant, to its Pasadena, Calif. office. Lupia was ...

Investigators: Falling Boulder Sparked Utah Fire

Investigators say a Utah wildfire that burned more than 800 acres in Emery County was sparked when one massive boulder hit another. Utah ...

Deutsche Bank Exec Files $50M Claim Against LA

A senior executive at Deutsche Bank has filed a $50 million claim against the city of Los Angeles, alleging he was beaten by two officers ...

Chevron Will Be Held Accountable For Refinery Fire

Agencies investigating the Chevron Corp. refinery fire have told Richmond residents that the petroleum giant will be held accountable. The ...

Poll: Confidence for Calif. Workers' Comp Reform Dropping

Confidence in the state government to reform California's unwieldy workers' compensation system is falling as Legislators struggle to ...
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International

How Iran’s Main Oil Buyers Deal with Insurance Sanctions

Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the ...

Validus to Buy Flagstone Re for $600 Million in Cash and Stock

Reinsurer Validus Holdings Ltd said it will buy Flagstone Reinsurance Holdings for about $600 million in cash and stock to boost its ...

Willis Exec Comments on Russia Joining WTO

A note from Willis Group Holdings features comments from Ann Longmore, Executive Vice President of Willis' Executive Risks practice, who ...

CCRIF Reports Minimal Damage; No Payouts Due from TS Isaac

The Caribbean Catastrophe Risk Insurance Facility has reported that, while some of its members were impacted by tropical storm Isaac, most ...

ANV Syndicate Opens Accident & Health Underwriting Operations

The newly acquired Lloyd's ANV Syndicate announced the opening of its Accident and Health (A&H) business. The business was "previously ...

Ratings Recap: China Taiping (NZ), Maiden Holdings (Shares)

A.M. Best Co. has downgraded has the financial strength rating (FSR) to 'B+' (Good) from 'B++' (Good) and the issuer credit rating to ...
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LexisNexis Insurance Exchange Gets New Leader, New Drive

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Agriculture Business Prepared for This Year's Drought

Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,...

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New Discussions in the Forums

Progressive Weasling?
Posted: Thu Aug 30 -- I think the question is did your insured took reasonable care of the car when it was in their custody. If they did, then they're probably... wariline
Monoline DPD- IA, MN, IL, WI??
Posted: Wed Aug 29 -- I have an admitted program, and can write in those states with the exception of MN. I would have to write the WHOLE account. Not just DPD. I... Adame526
Insurance aggregators/Groups for personal lines
Posted: Wed Aug 29 -- Hi Andy, I would like to discuss this in greater detail, but when i called that number, the person said it is the wrong number. Is there... kevin316
Motor Cycle dealer WC (CA)
Posted: Tue Aug 28 -- I have PEO markets at as low as 100K in payroll annually Chad Filley
Splits
Posted: Tue Aug 28 -- I started a P&C agency within an existing company. Started with base salary and moving to commissions this year. I perform all agency tasks... mrnewbie
Life Agent working for P&C Agency
Posted: Mon Aug 27 -- I would like to know if anyone reading this has successfully worked with a P&C agency to sell life insurance and maintained their... austex
Manufactured Home (in park) Insurance in Florida
Posted: Fri Aug 24 -- Thanks, no such program yet....maybe after a CAT loss something like that can be implemented for home insurance. agentagent
Insurance Pro AMS - Any experience?
Posted: Fri Aug 24 -- "helllooo...I am asking for help..I had read all the posts on this topic, but I hadn't seen any superb... ITCBeckySchroeder

Reader Comments

2 Hurt by Text-Messaging Driver in N.J. Settle Lawsuit
Posted: Thu Aug 23 -- The lawyer, Weinstien, has gone to a new low level trying to say someone can be held liable if they are "electroniclly present". What a... John
Employers Committed to Offering Health Plans; Cost Seen Going Up 5.3% in 2013
Posted: Tue Aug 28 -- Our health insurance benefit is being canceled next year and we will be paid the amount of the current contribution minus the fine for not... Sarah
Oklahoma Lawmaker Wants More Money in Workers' Comp Case
Posted: Mon Aug 27 -- Kind of knocked goofy?? I'd say you were already goofy to begin with. A State legislator milking the system. And a Republican at that! Seems... Say What?
Judges Tout Wikipedia in 'Jet Ski' Exclusion Ambiguity
Posted: Mon Aug 27 -- Jet Ski is a registered trademark of Kawasaki, but the lower case term 'jet ski' is a popular term synonymous with 'personal watercraft'... ineedjava

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August 20, 2012
Current Issue
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Copyright © 2012 by Wells Media Group, Inc.

New Markets Daily: August 30, 2012

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August 30, 2012

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Contract Litigation Insurance

Contract Litigation Insurance (CLI) is designed specifically to insure against the risk of paying an opponent's attorneys' fees ...
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Excess Motor Truck Cargo

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TravelSeguro provides travel assistance and medical coverage underwriten through Travel Guard, leaders in worldwide travel ...
States: AZ, CA, CO, FL, GA, IL, TX

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Feature Articles

New National Parks' Insurance Requirements Ignite Controversy

A National Parks Service (NPS) decision to hike their required insurance liability limits by 1,000 percent has some outfitters and guides,... Read more

Community Associations Grow by Number and Exposure

In 2011, more than 62 million people lived in residential homes governed by a community association, including homeowners associations,... Read more

Markel FirstComp Unveils New Name, New Agent Portal

Markel and FirstComp have announced a new brand – Markel FirstComp – and a new independent agent portal. Founded in 1997,... Read more

Latest Forums

Mortgage Lenders E&O

We are looking for a carrier or carriers to write Mortgage Banking E&O, GL, etc.  in Texas.  We also have a client ...
by mikecdisi on Tue Aug 28, 2012

Classic car coverage

I am needing Classic Car coverage that will take a customer with 2 accidents and 1 speeding ticket. Any suggestions? He has 2 ...
by debbieu12 on Tue Aug 28, 2012

Citizens Wrap-Around Coverages

Does anyone know a good, reputable company offering the buy-back option on what Citizens' policies are now excluding - namely ...
by steveinsguy on Tue Aug 28, 2012

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Wednesday, August 29, 2012

The Hidden Causes of Psychiatric Disorders That Few Suspect

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Your Thursday Articles More Articles
An Urgent Message from Ronnie Cummins The Hidden Causes of Psychiatric Disorders That Few Suspect
Are emotional or mental challenges always a result of an imbalance or chemical dysfunction in your brain, or a result of your "genes"? Many fail to realize some of the real causes behind these disorders and the 12 steps to try BEFORE resorting to drugs.

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Grab your cosmetic creams now and double-check they don't contain any of these ingredients linked to a host of health problems.
Sweet Remedy EXPOSED: Your Poisoned Food Supply
Sweet Remedy documents the quest of Cori Brackett (diagnosed with M.S. in 2002) to find answers to this question: why is there such an escalation in neurological disorders in the U.S. today? This powerful documentary takes a realistic look at current health and health-related political issues, and uncovers the truth about the numerous toxins in our U.S. food supply. Journey with Cori as she also talks with others stricken with M.S. You'll discover how their health dramatically improved by eliminating toxins from their diets.
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Daily Headlines: Wednesday, August 29, 2012

Sponsored by: Target Markets. 12th Annual TMPAA Summit. October 29-31, 2012. Scottsdale, AZ. Click here for more information.
Insurance Journal Daily Headlines
August 29, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Early Isaac Losses at $1.5B: Eqecat

Hurricane Isaac has caused up to $1 billion in economic losses for offshore energy properties and up to $1.5 billion in insured losses ...

Hurricane Isaac Hits Fortified New Orleans on Katrina’s Anniversary

Hurricane Isaac lashed southern Louisiana with high winds and heavy rains on Wednesday and was set for a late-morning arrival in New ...

U.S. P/C Insurers Expected to Withstand Isaac: Fitch

Fitch Ratings anticipates losses related to Hurricane Isaac will be largely borne by primary insurers, but estimates remain uncertain as ...

GJS Re Opens Facultative Reinsurance Unit; Threlfall to Lead

G.J. Sullivan Co. Reinsurance (GJS Re) has launched GJS Re Facultative to focus on providing quality property facultative reinsurance to ...

Freberg Environmental to Underwrite New Berkley Envrionmental Coverage

Freberg Environmental Insurance (FEI) has formed an agreement to underwrite environmental insurance coverage with Berkley Custom Insurance ...

Isaac Becomes a Hurricane As It Churns Toward New Orleans

Tropical Storm Isaac strengthened into a hurricane just off the U.S. Gulf Coast on Tuesday as it churned toward landfall in the New Orleans ...

From MyNewMarkets.com New National Parks' Insurance Requirements Ignite Controversy

A National Parks Service (NPS) decision to hike their required insurance liability limits by 1,000 percent has some outfitters and guides,...
Join us August 30, Crimes, Torts, Negligence, Legal Liability and Insurance - New training from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
East

Philadelphia Residents Among Worst Drivers in Nation: Allstate Report

Philadelphia drivers have been ranked as the worst among big cities with at least 1 million residents, according to an annual report from ...

Del. Insurance Commissioner Candidate Returning $7,200 in Donations

The Delaware Democratic Party's endorsed candidate for insurance commissioner is returning more than $7,000 in political contributions to ...

Ex-NFL Player John Mott Sues in N.Y. for Head Injury

Former NFL player John Mott has sued the league in federal court in New York, saying it failed to warn players about the dangers of head ...

Ohio’s Norman-Spencer Agency Acquires N.Y.-Based Keenan Marine Agency

Ohio-based Norman-Spencer Agency Inc. has acquired New York-based Keenan Marine Insurance Agency LLC. Keenan Marine is a national specialty ...
Love the Retail Agency you work for? Click Below to Nominate It for IJ's Best Agencies to Work For! Click here for more information.
Midwest

Ruling: Ohio Doctor Can Be Sued in Inmate’s Suicide

A federal appeals court says an Ohio psychiatrist isn't immune from being sued by the family of an inmate who killed himself in prison. ...

Drought-Stricken States Welcome Rain from Isaac

Tropical Storm Isaac could bring welcome rain to some states in the Mississippi River valley this week, but experts say it's unlikely to ...

Study: 580 Concussions in North Dakota Prep Sports Last Year

A study conducted by the North Dakota High School Activities Association found that there were at least 580 sports-related concussions ...

Cedar Rapids, Iowa Gets Key OK for Flood Plain Projects

Cedar Rapids, Iowa, has gotten state permission to make rule changes that could lead to redevelopment in four downtown historic or ...
Southeast

Mississippi Urges Homeowners to Protect Property Before Evacuating

Mississippi Commissioner of Insurance Mike Chaney issued a statement urging coastal homeowners to take steps to protect their homes until ...

Kentucky Annual Workers’ Comp Loss Costs Fall for 7th Consecutive Year

Kentucky regulators said an annual filing most carriers will use to develop rates for workers' comp coverage shows the seventh ...

Kentucky County Eyeing Timber Firms Over Road Damage

A western Kentucky county is eyeing loggers and their trucks as the cause of damage to county roads. The Hopkins County Fiscal Court is ...
South Central

Hurricane Isaac Soaks Gulf Coast, Tests Levees

Hurricane Isaac drove water over the top of a levee on the outskirts of New Orleans on Wednesday, but the multibillion-dollar barriers ...

Smith Joins IIG/HR Benefits Team in Dallas

Stephen B. Smith is now a managing partner with Independent Insurance Group (IIG), the Dallas, Texas-based company announced. Smith is a ...

Isaac Worries Some Arkansas Farmers, Cheers Cattlemen

Arkansas agriculture officials say Hurricane Isaac would bring welcome rain to the state, but producers are worried about the stormy ...

Isaac Now a Hurricane: Update

The National Hurricane Center says the center of what is now Hurricane Isaac may make landfall on the southeast Louisiana coastline as ...

Louisiana Insurance Department Disaster Plan in Place

With Hurricane Isaac likely headed for the southeast coast of Louisiana, the Louisiana Department of Insurance reports that it has ...

Isaac Brings Wind, Rain and the 7-Year Itch to New Orleans

For New Orleans, Tuesday morning brought an all-too-familiar dilemma: to flee or not to flee. With Hurricane Isaac bearing down on the ...
West

Yosemite Officials Say 1,700 Visitors Risk Disease

The rustic tent cabins of Yosemite National Park — a favorite among families looking to rough it in one of the nation's most majestic ...

NTSB: Trim Tab Failure Caused 2011 Reno Race Crash

The World War II-era P-51 Mustang hurtled over the race course in Nevada at more than 500 mph, its skin wrinkling and canopy separating ...

Workers' Comp Reform Bill Running Low on Time

The numbers continue to change and time is running out on a workers' compensation reform bill that has California legislators scrambling ...

EPIC Adds Bentson As Senior Account Manager

Folsom, Calif.-based Edgewood Partners Insurance Center added Jessica Bentson as a senior account manager in its Folsom office. Bentson's ...

Van Gilder Names Former Community Bankshares CEO as New President

Denver, Colo.-based Van Gilder Insurance Corp. named Don Woods its new president. Woods is co-founder and CEO of Community Bankshares Inc. ...

Jones Annual Report Details Consumer Protection

The California Department of Insurance has issued California Insurance Commissioner Dave Jones' annual report for 2011 that details ...
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International

Tropical Storm Bolaven Makes Landfall in North Korea: AIR Analysis

According to catastrophe modeling firm AIR Worldwide, after weakening to borderline tropical storm/typhoon strength (120 km/h [75 mph] ...

Guy Carpenter Report Finds Lloyd’s Seeking to Improve ‘Competitiveness’

A new report on the Lloyd's insurance market by Guy Carpenter & Co. finds that "Lloyd's is looking to improve its global ...

NHC Tracking TS Kirk

While most of the attention is focused on Hurricane Isaac, the National Hurricane Center in Miami is also tracking Kirk, the latest named ...

Willis to Open 22nd China Office in Harbin

Willis China, part of Willis Group Holdings, announced that the Chinese Insurance Regulatory Commission (CIRC) has granted approval for it ...

Swiss Re Corporate Solutions Opens Netherlands for Benelux Market

Swiss Re Corporate Solutions announced that it has opened an office in Amstelveen, the Netherlands, to "reinforce its presence in the ...

Montpelier Re Names Downey Global Casualty, Specialty Treaty Head

Montpelier Reinsurance Ltd., the Bermuda-based subsidiary of Montpelier Re Holdings Ltd., announced that it has named Christopher Downey as ...
Join us Sept 13, Understanding Commercial Property Underwriting and COPE - New training from Insurance Journal's Academy of Insurance - Reserve Your Spot Today
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September 19, 2012 Lunch Discussion: Kidnap, Ransom and Extortion

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Insurance Journal TV

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LexisNexis Insurance Exchange Gets New Leader, New Drive

The LexisNexis Insurance Exchange — an online single-entry submission system that...
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Agriculture Business Prepared for This Year's Drought

Record high temperatures in the Midwest have farmers facing the worst drought in over 20 year,...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Monoline DPD- IA, MN, IL, WI??
Posted: Wed Aug 29 -- I have an admitted program, and can write in those states with the exception of MN. I would have to write the WHOLE account. Not just DPD. I... Adame526
Insurance aggregators/Groups for personal lines
Posted: Wed Aug 29 -- Hi Andy, I would like to discuss this in greater detail, but when i called that number, the person said it is the wrong number. Is there... kevin316
Motor Cycle dealer WC (CA)
Posted: Tue Aug 28 -- I have PEO markets at as low as 100K in payroll annually Chad Filley
Splits
Posted: Tue Aug 28 -- I started a P&C agency within an existing company. Started with base salary and moving to commissions this year. I perform all agency tasks... mrnewbie
Life Agent working for P&C Agency
Posted: Mon Aug 27 -- I would like to know if anyone reading this has successfully worked with a P&C agency to sell life insurance and maintained their... austex
Manufactured Home (in park) Insurance in Florida
Posted: Fri Aug 24 -- Thanks, no such program yet....maybe after a CAT loss something like that can be implemented for home insurance. agentagent
Insurance Pro AMS - Any experience?
Posted: Fri Aug 24 -- "helllooo...I am asking for help..I had read all the posts on this topic, but I hadn't seen any superb... ITCBeckySchroeder
Progressive Weasling?
Posted: Fri Aug 24 -- Ravisseur, your post is common sense and I agree with your points. One is that Progressive was not "defending her killer" per se but was... Marina
Wind Exposure-West Coast Florida
Posted: Wed Aug 22 -- Have you checked with any of the E&S Markets? Hull, Crump, or Burns-Wilcox? And, what about Orchid? They are writing tons of "with wind"... suba4004

Reader Comments

2 Hurt by Text-Messaging Driver in N.J. Settle Lawsuit
Posted: Thu Aug 23 -- The lawyer, Weinstien, has gone to a new low level trying to say someone can be held liable if they are "electroniclly present". What a... John
Oklahoma Lawmaker Wants More Money in Workers' Comp Case
Posted: Mon Aug 27 -- Kind of knocked goofy?? I'd say you were already goofy to begin with. A State legislator milking the system. And a Republican at that! Seems... Say What?
Employers Committed to Offering Health Plans; Cost Seen Going Up 5.3% in 2013
Posted: Tue Aug 28 -- Our health insurance benefit is being canceled next year and we will be paid the amount of the current contribution minus the fine for not... Sarah
Judges Tout Wikipedia in 'Jet Ski' Exclusion Ambiguity
Posted: Mon Aug 27 -- Jet Ski is a registered trademark of Kawasaki, but the lower case term 'jet ski' is a popular term synonymous with 'personal watercraft'... ineedjava

Current Issue

August 20, 2012
Current Issue
Satire Issue (Funny stories, weird claims, reader submissions and wacky ad contest.)

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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.