Tuesday, July 30, 2013

Daily Headlines: Tuesday, July 30, 2013

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Insurance Journal Daily Headlines
July 30, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Dead Farmers Get Millions in Federal Crop Insurance Payouts

The U.S. Agriculture Department paid out $32 million in soil conservation payments and crop insurance aid to dead farmers from 2008 to ...

AIG to Close Down Savings Bank Unit Due to Dodd-Frank Limits

American International Group Inc. will return funds to customers of its banking unit and shut their accounts as the Dodd-Frank Act places ...

BP Sees No Quick Settlement in Oil Spill Case; Latest Cost Estimate at $42.4B

BP is digging in for a long legal battle over the Gulf of Mexico oil spill, Chief Executive Bob Dudley said on Tuesday after compensation ...

Hartford's Q2 Loss Widens to $190M; P/C Earnings Show Improvement

The Hartford Financial Services Group reported a net loss of $190 million for the 2013 second quarter. The quarterly loss widened compared ...

From MyNewMarkets.com W.R. Berkley Q2 Profit Up 6%; Rates Up 6.5%; CEO Comments on Berkshire

W.R. Berkley Corp. reported $116 million net income for its 2013 second quarter, up more than 6 percent from $109 million net income posted...
Carrier Management

Are You Hiring the Wrong Person?

Have you ever applied for a job and wondered why it is offered to someone who appears to be less qualified than you?...
New digital book reviewing ISO's major changes to its key commercial lines coverages - from Academy of Insurance
East

Sandy Aid Tilted Toward Neediest N.J. Homeowners

Federal rules require that at least half of the Superstorm Sandy aid coming to New Jersey goes to residents at or below moderate income ...

Vermont to Offer Voter Registration Through Health Insurance Marketplace

Vermont will become the third state to offer voter registration through its health insurance marketplace later this year. Secretary of ...

Cops Beef Up Patrols for Boaters' Party on N.Y. Lake

Authorities say they'll have vehicle checkpoints on land and marine patrols checking for inebriated boaters at an annual party held in a ...
Midwest

Wisconsin Woman Challenges Cap on Malpractice Damages

A Verona, Wis., woman is challenging a law that caps malpractice damages against University of Wisconsin doctors at $250,000. A Wisconsin ...

Year after Fire, St. Louis Apartment Building to Reopen

A little over a year after a fast-moving fire burned most of a huge apartment complex in St. Louis, Mo.'s Central West End, the complex is ...

Gregory to Lead Ohio BWC's Fraud Investigations Department

Rick Gregory has been selected as director of the Special Investigations Department (SID) at the Ohio Bureau of Workers' Compensation ...
Southeast

Alabama Coastal Residents Bracing for Major Flood Insurance Increases

Flood maps aren't due out for Alabama until next December, but the specter of rising flood insurance premiums is undeniable. Congress, ...

Mississippi School Districts Shocked By Property Insurance Hikes; Cat Losses Cited

Property insurance premiums have skyrocketed for Pine Belt school districts. Some have had problems just finding a company to insure them. ...

Mississippi Student Accused of Shooting Roommate Sues University

A former student accused of shooting his roommate in an off-campus apartment has sued the University of Southern Mississippi, alleging that ...
South Central

Louisiana Recovers $4M in Additional Insurance Payments in First Half 2013

Louisiana insurance policyholders received an additional $4 million in insurance payments in the first half of 2013 as a result of ...

Oklahoma Town Fears Fires Costing City Its History

Seminole, Okla., has suffered through eight fires in three years, causing some to fear that the community is losing its history. Since ...

Pipe Company Suing Liberty Mutual Insurance over 2012 Arkansas Fire

A fire that broke out at Welspun Pipes Inc.'s Little Rock, Ark., facility last year could cost the plant $14.5 million. That's according to ...
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West

Woman Awarded $775K After Tripping At Vegas Casino

A woman who tripped on a speed bump and injured her shoulder at a U.S. casino has been awarded $775,000. The Nevada Supreme Court upheld ...

Man Sues Wyoming Walmart For Wrongful Death

A man who says his wife died after she ate a contaminated cantaloupe purchased at a Sheridan, Wyo. Walmart is suing the retailer. The ...

Arizona Flash Flood Carries Away Tour Bus, None Hurt

Flash flood waters swept a tour bus with 33 people aboard hundreds of yards down a wash in northwestern Arizona and the vehicle flipped on ...

Leavitt Group Names Bosley in California

The Leavitt Group named Renee Bosley as vice president in the employee benefits division in its Sacramento, Calif. office. Bosley ...
International

Italy Crash Kills at Least 38 as Bus Plunges Into Ravine

At least 38 people died when a bus plowed through a guard rail and plunged into a ravine in southern Italy, a police official said. The bus ...

Quebec Gov't. Orders MMA Railway, World Fuel to Pay for Train Crash Cleanup

The Quebec government has ordered the rail and fuel companies involved in a devastating train crash that killed 47 people in the town of ...

Willis Group Hosts Investor Conference

Willis Group Holdings announced an investor conference today in New York City from 1:00 p.m. to 5:00 p.m. EDT. Willis, which last week ...

XL Posts $272.7 Million Q2 Net Income; $221.6 Million Operating

XL Group plc reported the following hihlights in its earnings report for the second quarter of 2013: -- Operating net income for the ...

PartnerRe Posts $175.6 Million Q2 Net Loss; Operating Earnings $51.5 Million

Bermuda-based PartnerRe Ltd. reported a net loss of $175.6 million, or $3.37 per share for the second quarter of 2013. The earnings ...
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From 3D Printing to Driverless Cars: Emerging Risks on the Horizon

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Oklahoma Opens Up to Captive Insurers

Oklahoma this year will join the ranks of other states that aim to attract and keep captive...

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New Discussions in the Forums

comp in ca for unarmed security firm
Posted: Mon Jul 29 -- Hi Trotter! We had to market a similar account, on a smaller scale last month and we were successful! The Workers Comp portion was difficult... pnik33
Why I believe in insurance agents
Posted: Sat Jul 27 -- Why don't doctors and lawyers advertise with cheesy cartoon characters? Emma
Trying To Place: Public Livery Delaware
Posted: Fri Jul 26 -- I have a complete application and loss runs for an account that does non-emergency medical transportation. They have been in business for 12... DIG2013
Hotels in Ca
Posted: Fri Jul 26 -- I do hotel/motel/condo/apartments all day long, even with CAT exposure. If you are still in need of assistance, give me a call to discuss.... aasquith
Need comp in ca code 5474 painting
Posted: Thu Jul 25 -- 100000 in payroll. Insured was with Ullico and they went insolvent so insured has had a lapse since 6/30/ 2013. Insured had been with... trotter
The Age Old Question-How much to split
Posted: Tue Jul 23 -- I'll tell you what. I will let you come into my agency and take it over. Just give me 70% of the commissions and you can run it and have the... gforaker
Which form to write D&O coverage on- opinion needed
Posted: Tue Jul 23 -- If you had a privately held company (family owned) that owned and operated several nursing homes in a 5 states would you write the D&O on a... ALS

Reader Comments

Jury Awards Oregon Woman $18.6M Over Credit Report
Posted: Mon Jul 29 -- Well deserved- the punitive verdict is necessary to act as a deterrent- Federal Law Mandated corrective action which obviously was ignored... Jack Straw
U.S. Court Rejects Firm's Challenge to Obamacare Contraception Mandate
Posted: Mon Jul 29 -- My Mom was in a serious car accident in 1982 and has had a total of 23 surgeries since then; many for reconstructive surgery due to injuries... Libby
Hobby Lobby Wins Stay Against Birth Control Mandate
Posted: Wed Jul 24 -- Libby says, "Take your proselytizing and stick it where the sun don't shine. You're one of the worst examples of a Christian I have seen... 1ofMany
Companies Must Disclose CEO-to-Worker Pay Ratios Under SEC Proposal
Posted: Tue Jul 23 -- So you think that business owners are "Socialist Libtards"? The stockholders are the OWNERS of the business, and they have every right to... Don't Call Me Shirley
Halliburton Pleads Guilty to Destroying Gulf Oil Spill Evidence
Posted: Mon Jul 29 -- Trashy? Trash talk, maybe. But that doesn't mean it ain't true, Bob! Libby

Current Issue

July 22, 2013
Current Issue
Excess, Surplus & Specialty Markets Directory, Volume II

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New Markets Daily: Tuesday, July 30, 2013

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July 30, 2013

Market Announcements

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Feature Articles

W.R. Berkley Q2 Profit Up 6%; Rates Up 6.5%; CEO Comments on Berkshire

W.R. Berkley Corp. reported $116 million net income for its 2013 second quarter, up more than 6 percent from $109 million net income posted... Read more

LIU, CloudInsure Tackle Cloud Computing Coverage Gaps

A new insurance partnership between Liberty International Underwriters and CyberRiskPartners' CloudInsure will provide insurance backing for... Read more

Number of Hail Damage Insurance Claims Up 84% Since 2010

Insurance claims resulting from hail storm damage increased 84 percent in 2012 from their 2010 level, according to the National Insurance... Read more

Latest Forums

*URGENT* Commercial Confinement Swine Farm Coverage Needed

Hello, I still need to place several commercial confinement swine farm risks. They are located in Oklahoma. Property and GL if...
by Ronb541 on Mon Jul 29, 2013

Need work comp for limo biz in nevada

I have a limousine risk in Nevada that needs workers comp. They are a new venture with 3 drivers and only 2 vehicles. If you have a...
by lfuentes on Mon Jul 29, 2013

Medical transcribing in emergency rooms

I need a GL ,E&O, D&0 for  medical records transcribing. Multi state located in California. New in business.
by benkins on Mon Jul 29, 2013

Fraternal Hall that rents out building for various functions

Need a standard market(property and liability) for a Veterans organization that has operations that include renting their building...
by goodrich4 on Fri Jul 26, 2013

Security Guard- Workers Comp- CA

Unarmed security guard/patrol company in CA, approx payroll $450K, please let me know if you can write this.
by gursikh on Thu Jul 25, 2013

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Insurance Journal TV: Small Commercial Buyers Moving Online: Who Are They What Do They Want

Insurance Journal TV
July 30, 2013
Feature Video

Small Commercial Buyers Moving Online: Who Are They? What Do They Want?

Sam Friedman, research team leader at Deloitte's Center for Financial Services, hypothesized that some within the small business community might be ready to purchase their small...

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Monday, July 29, 2013

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Daily Headlines: Monday, July 29, 2013

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Insurance Journal Daily Headlines
July 29, 2013
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Judge Says Bernanke Should Testify in Greenberg's Suit Against Bailout

A U.S. judge said Federal Reserve Chairman Ben Bernanke should be required to testify in the lawsuit by the former chief of American ...

Victims in Meningitis Outbreak Cleared to File Product Liability Suits

Victims in Tennessee of a deadly U.S. meningitis outbreak won the right to pursue a new avenue of litigation against healthcare facilities ...

Could Halliburton's Plea Help BP in Oil Spill LIability Battle?

P Plc appeared to gain an edge in the battle over liability for the 2010 Gulf of Mexico spill on Friday, after Halliburton abandoned one of ...

Marsh Names Tobin as CEO, Private Client Services

Marsh has appointed Kevin Tobin to be CEO of its Private Client Services (PCS).Currently chief operating officer of Marsh's Insurance ...

Ironshore Adds Surety Capacity Through Lexon, Boston Indemnity Group

IRONSHORE AND LEXON BROADEN ALLIANCE TO INCLUDE BOSTON INDEMNITY GROUP    Ironshore Inc. ("Ironshore") and Lexon Surety Group ("Lexon") ...

U.S. Court Rejects Firm's Challenge to Obamacare Contraception Mandate

A divided federal appeals court on Friday rejected a Pennsylvania cabinet maker's religion-based challenge to the 2010 healthcare law's ...

From MyNewMarkets.com W.R. Berkley Q2 Profit Up 6%; Rates Up 6.5%; CEO Comments on Berkshire

W.R. Berkley Corp. reported $116 million net income for its 2013 second quarter, up more than 6 percent from $109 million net income posted...
Carrier Management

Insurer Insolvencies Fuel Director Liability; Board Roles Becoming More Complex

Member of boards of directors of insurance companies are increasingly concerned about lawsuits they might face in...
Sponsored by: Carrier Management. Critical Information for P/C Execs and Directors. A special thanks to our sponsor Xuber. Click here for more information.
East

Probe: Port Authority of N.Y.-N.J. Paid Too Much for Insurance

An internal investigation has found the Port Authority of New York and New Jersey paid millions of dollars in excessive insurance premiums ...

New Jersey Flood Victims Face Difficult Buyout Decision

Bob and Pat Smith have seen many floods in their 47 years on Water Street, but none as severe as in Superstorm Sandy. Last year's storm ...

Ex-Penn State Officials Hearing Revives Sandusky Abuse Case

Ex-Pennsylvania State University President Graham Spanier and two other former officials will be in a court hearing today on whether they ...

Maryland Court: Bars Not Liable for Patrons' Accidents

Maryland's highest court says bars can't be held responsible for accidents their patrons cause after they leave. The Court of Appeals ruled ...

New York Increases Fines for Distracted Driving Violations

New York Governor Andrew Cuomo announced on July 26 that new and increased fines for distracted driving violations, which includes ...

Penn.-Based PMA Companies Appoints Chief Information Officer

PMA Companies, a Pennsylvania-based provider of commercial insurance risk management solutions and TPA claims and risk services, announced ...
Midwest

Kansas Vehicle Dealers Coping With Hail Damage

The hailstorm that pounded south-central Kansas last week left automotive dealers with big headaches, but it's also giving prospective ...

Barrat to Serve on Arthur J. Gallagher & Co. Board

Itasca, Ill.-based insurance brokerage, Arthur J. Gallagher & Co., has elected Sherry S. Barrat to serve on the company's board of ...

Kansas Couple Awarded $202K in Lawsuit Over Problem Dam

A Hutchinson, Kan., couple who bought a home without being told they would be responsible for maintaining a dam on the property has been ...
Southeast

High Water Levels at Florida's Lake Okeechobee

The Army Corps of Engineers has activated its emergency operations center in response to high water levels at Lake Okeechobee. The corps' ...

Christian Health Program Medi-Share Back in Business in Kentucky

A Christian health program is back in operation in Kentucky, paying medical bills for churchgoers who pledge not to smoke, drink or engage ...

North Carolina Suffers Fourth Flash Flood in 4 Months

A series of thunderstorms moving across western North Carolina has triggered what meteorologists are calling major flash flooding. The ...
South Central

Texas Mutual Pays $175M Policyholder Dividend

Texas Mutual Insurance Co. announced it has begun distributing $175 million in dividends among approximately 40,000 policyholders. ...

Texas Woman Seeks $1M After Slipping on Nut Shells

A Texas woman wants $1 million in damages from a steakhouse known for letting patrons throw peanut shells on the floor after she says she ...

Sullivan to Join Texas Division of Workers' Comp as Deputy Commissioner

The Texas Department of Insurance, Division of Workers' Compensation (TDI-DWC) announced that Kerry D. Sullivan will join the agency as ...
West

Tropical Storm Flossie May Become First to Hit Hawaii Since 1992

Tropical Storm Flossie, which may become the first such system to hit Hawaii in 21 years, closed ports as it pounded parts of the state ...

State Farm Targets NV Energy for Subrogation Over Reno Wildfire

State Farm Insurance plans to seek action against NV Energy for claims stemming from a November 2011 wildfire in Reno, Nev. sparked by ...

Jury Awards Oregon Woman $18.6M Over Credit Report

A federal jury in Oregon has awarded $18.6 million to a woman who spent two years unsuccessfully trying to get Equifax Information Services ...

Relatives Of Montana Man Sue Hospital Over Opiate Patch Death

Relatives of a Montana man who died of a drug overdose following surgery at a hospital in Cody, Wyo., have filed a federal lawsuit claiming ...

Groups Attack Watchdog Effort to Raise Medical Malpractice Bar in California

Under a measure being pursued for next year's ballot by Consumer Watchdog California voters will have the opportunity to boost the cap on ...
International

Allianz, QBE Have Largest Exposures to Spain Train Crash

Germany's Allianz and Australian group QBE bear the bulk of the insurance liability from this week's fatal train crash in northwest Spain, ...

Tokio Marine Targets Asean for Expansion Abroad: Southeast Asia

Tokio Marine Holdings Inc., Japan's second-largest non-life insurer, is seeking to expand in Southeast Asia as Japan's shrinking population ...

Aon UK Hosts Operational Risk Modeling Discussion with Bank of England

Aon UK Limited, the UK arm of Aon plc, which in addition to traditional insurance activities, also provides risk management, human resource ...

Aon Reports 3% Q2 Revenue Growth; $241 Million Net Income

Aon's earnings report of its results for the second quarter of 2013 showed a pattern of growth throughout the organization. Total revenue ...

Hiscox First-Half Profit Jumps 44%; Net Income $278 Million

Hiscox Ltd., the second-biggest Lloyd's of London insurer by market value, said first-half profit jumped 44 percent, beating analyst ...

Allied World Reports $1.9 Million Q2 Net Loss; Operating Income Increases

Allied World Assurance Company Holdings, AG reported a net loss of $1.9 million, or $0.05 per diluted share, for the second quarter of 2013 ...

Allied World Bermuda Launches Liability Coverage for ACOs

Allied World Bermuda has launched a new accountable care organization (ACOs) liability product for Bermuda-based clients. The product ...

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Insurance Journal TV

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From 3D Printing to Driverless Cars: Emerging Risks on the Horizon

New technology is happening all the time, and with that comes new risks, says Graeme Newman,...
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Oklahoma Opens Up to Captive Insurers

Oklahoma this year will join the ranks of other states that aim to attract and keep captive...

TV icon Watch more videos at InsuranceJournal.tv

New Discussions in the Forums

Fiberglass Manufacturer in South Carolina
Posted: Mon Jul 29 -- Does anyone know of any exclusive programs with various brokerage firms for a fiberglass manufacturer? The products are designed to serve... Insproducer
Why I believe in insurance agents
Posted: Sat Jul 27 -- Why don't doctors and lawyers advertise with cheesy cartoon characters? Emma
Trying To Place: Public Livery Delaware
Posted: Fri Jul 26 -- I have a complete application and loss runs for an account that does non-emergency medical transportation. They have been in business for 12... DIG2013
Hotels in Ca
Posted: Fri Jul 26 -- I do hotel/motel/condo/apartments all day long, even with CAT exposure. If you are still in need of assistance, give me a call to discuss.... aasquith
comp in ca for unarmed security firm
Posted: Thu Jul 25 -- New in business payroll projected at $300000. Needing coverage asap as always. Peo will work also. I think Zurich has possible min. premium... trotter
Need comp in ca code 5474 painting
Posted: Thu Jul 25 -- 100000 in payroll. 'insured was with Ullico and they went insolvent so insured has had a lapse since 6/30/ 2013. Insured had been with... trotter
The Age Old Question-How much to split
Posted: Tue Jul 23 -- I'll tell you what. I will let you come into my agency and take it over. Just give me 70% of the commissions and you can run it and have the... gforaker
Which form to write D&O coverage on- opinion needed
Posted: Tue Jul 23 -- If you had a privately held company (family owned) that owned and operated several nursing homes in a 5 states would you write the D&O on a... ALS

Reader Comments

Companies Must Disclose CEO-to-Worker Pay Ratios Under SEC Proposal
Posted: Mon Jul 22 -- "Across the Standard & Poor's 500 Index of companies, the average multiple of CEO compensation to that of rank-and-file workers is 204, up... Libby
Insurers, Republicans Part Ways Over Global Warming
Posted: Mon Jul 22 -- Agent: The fossil fuels emissions numbers are about 100 times bigger than even the maximum estimated volcanic CO2 fluxes. Counter claims... Libby
Investors See Travelers' Cuts in Auto as Sign Rate Hikes Have Peaked
Posted: Wed Jul 24 -- I know in Oregon they will not write a stand alone home policy anymore either. They only want auto or package business, and they are just... LP
Halliburton Pleads Guilty to Destroying Gulf Oil Spill Evidence
Posted: Fri Jul 26 -- somehow, someway, this has to be connected to Cheney. Yep, and then Bush. Remember those guys??? ralph
Hobby Lobby Wins Stay Against Birth Control Mandate
Posted: Wed Jul 24 -- Libby says, "Take your proselytizing and stick it where the sun don't shine. You're one of the worst examples of a Christian I have seen... 1ofMany

Current Issue

July 22, 2013
Current Issue
Excess, Surplus & Specialty Markets Directory, Volume II

More Newsletters

Choose Newsletters
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 © 2013 by Wells Media Group, Inc.