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Daily Headlines: Wednesday, June 13, 2012



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Insurance Journal Daily Headlines
June 13, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

In Expanded Internet Naming Game, Who Will Own .insurance?

Trade groups representing global financial companies have applied to operate the new domain names .insurance and .bank. on behalf of the ...

Law Firms Facing Rise in Large Malpractice Claims: Study

Although the frequency of malpractice claims brought against law firms in the U.S. appears to be leveling office, the number of large ...

Best Affirms Ratings of The Hanover Insurance Group and Subs

A.M. Best Co. has affirmed the financial strength rating (FSR) of 'A' (Excellent) and issuer credit ratings (ICR) of "a" of the ...

Cellcontrol, PURE Insurance to Offer Free Distracted Driving Technology to Members

Cellcontrol, a developer of distracted driving products, has launched a program with specialist member-owned insurer Privilege Underwriters ...

Hylant Group Acquires AGIS

Toledo, Ohio-based privately owned insurance brokerage firm, Hylant Group, has acquired AGIS, an independent, full-service employee ...

From MyNewMarkets.com Regulations, Exclusions Driving Demand in Contractors Pollution Liability Market

An increase in contract requirements and government regulations has led to a surge in demand for contractors pollution liability coverage,...
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East

N.Y. Orders ‘Force-Placed’ Insurers to Submit New Lower Rate Proposals

New York regulators said they have ordered three major insurers offering 'force-placed' homeowners insurance in New York to submit ...

Deadly NYC Crane Collapse Insurance Challenged

New York's top court says misrepresentations on insurance forms by the operator of a crane involved in a deadly collapse four years ago ...

USI Acquires Lynch, Beretta and Bucci Insurance in Rhode Island

USI Insurance Services completed the acquisition of Lynch, Beretta and Bucci Insurance, a Pawtucket, R.I.-based P/C insurance agency that ...

Call to End NYC Carriage Horse Rides Renewed After SUV Crash Incident

A renewed push is under way in New York City to ban horse-drawn carriages after a horse was recently injured in an accident with an ...

4 Northeastern Agencies Join Strategic Insurance Agency Alliance

The Strategic Insurance Agency Alliance (SIAA) said four new agencies in the Northeast region joined the partnership in May. The new ...
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Midwest

Chrysler Adds 2 Model Years To Jeep Liberty Recall

Detroit, Mich.-based Chrysler has added more than 137,000 Jeep Liberty SUVs to a March safety recall, bringing the total number of vehicles ...

Experts Question Iowa City Landfill Fire Coverage

Iowa City's insurance may not cover the damage done in the landfill fire that's been burning since May 26. At least two insurance experts ...

Accident Fund Holdings Names Carney Chief Underwriting Officer

Michigan-based Accident Fund Holdings Inc. has appointed William G. Carney as chief underwriting officer. Carney recently joined Accident ...

Illinois Gun Works Fined $111K for Exposing Workers to Hazards

Federal officials have fined an Illinois gun sales business, a shooting range and gun safety training company for allegedly exposing ...

Judge Rejects Challenge to Michigan's Fireworks Insurance Law

A judge has rejected a challenge to the insurance requirement in Michigan's new law expanding the sale of fireworks. Federal Judge Thomas ...
Southeast

Supreme Court Rules on Workers’ Comp Statute of Limitations in Stress Case

A worker who witnessed the deaths of two co-workers but did not file a post-traumatic stress disorder claim until more than a year after ...

Lexon Buys Florida’s Peninsular Surety

Lexon Insurance Co. in Hermitage, Tennessee, has agreed to a acquire all shares of Peninsular Surety Co. in Naples, Fla. Pending expectant ...
South Central

Oklahoma Commissioner: Improve Fire Department Ratings, Lower Premiums

Oklahoma Insurance Commissioner John D. Doak has detailed a plan to improve the ratings of Oklahoma fire departments and reduce home ...

NFL’s QB Young Sues Ex-Agent, Former Money Adviser

NFL quarterback Vince Young has filed a fraud and breach of contract lawsuit against his ex-agent and a former financial adviser. The ...

Texas Offers $5.7M In Grants For Alt Fuel Vehicles

The Texas Commission on Environmental Quality is offering $5.7 million in grants to replace diesel vehicles with ones that use hybrid or ...

More Water, Less Pain for Toledo Bend Businesses

Water is higher at the Toledo Bend reservoir in northwestern Louisiana. And that makes recreation-related business owners happy. Last June, ...

Groups Decry Loss of Okla. Human Rights Commission

Several groups representing the interests of minorities in Oklahoma criticized the elimination of the Oklahoma Human Rights Commission and ...
West

Dave Ring Joins Woodruff-Sawyer & Co.

San Francisco, Calif.-based Woodruff-Sawyer & Co. named Dave Ring a producer in the agency's property/casualty practice. Ring will ...

Asarco Files Lawsuits For Help With Cleanup Costs In Montana

Asarco LLC wants three other companies to help pay for environmental cleanup required in Montana at its former lead smelter in East Helena ...

Storms Increase Insurance Costs In Cheyenne Area

Severe weather including hailstorms is driving up the cost of homeowners insurance in Montana's Cheyenne area. James Mitchell with the ...

Colorado Company Fined Over Alleged Radiology Violations

The Colorado Department of Public Health and Environment has fined an industrial radiography company more than $240,000 over allegations ...

SIAA Grows By Six West Agencies in May

Hampton, New Hampshire-based Strategic Insurance Agency Alliance added six new member agencies from the West in May. May's new members ...
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International

Iran’s Oil Exports Plummet as Sanctions Bite Says IEA

Iran's oil exports have fallen by an estimated 40 percent since the start of the year as Western sanctions tear into the country's vital ...

Study Suggests China’s CO2 Emissions Could be Greater than Thought

China's carbon emissions could be nearly 20 percent higher than previously thought, a new analysis of official Chinese data showed on ...

ACE to Acquire Indonesian General Insurer Asuransi Jaya Proteksi

ACE Limited announced that the company and its local partner have reached a definitive agreement to acquire PT Asuransi Jaya Proteksi ...

Iran Tanker Firm Says it Insured Ships Despite Sanctions

Iran's biggest tanker operator, NITC, has $1 billion in ship insurance cover to keep its fleet on the water and serve clients in Asia ...

CPCU Society Names Nadeem as First International Ambassador

The CPCU Society has named Shahid Nadeem as its first international ambassador. He will attend the CPCU Society Annual Meeting and Seminars ...

Arch Re Europe Announces Leadership Team Reorganization

Arch Reinsurance Europe Underwriting Limited announced that Maamoun Rajeh will be appointed as the company's President and CEO as of July ...

Best Affirms ACE Limited, No. Am. P&C Affiliates ‘A+’ Ratings

A.M. Best Co. has affirmed the financial strength ratings (FSR) of 'A+' (Superior) and issuer credit ratings (ICR) of "aa" of the North ...

Best Affirms TT Club Bermuda, TT Club UK Ratings

A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of 'A-' (Excellent) and the issuer credit ratings ...
Insurance Journal Blogs

Burand’s Agency E&O Blog: Tip #3

Insurance agency errors and omissions (E&O) situations and solutions from consultant Chris Burand. Tip #3 Do you follow-up in writing ...

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Insurance Journal TV

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Health/Benefits Sector Offers Potential Growth for P/C Agents

Despite the uncertainty over the changes occurring in healthcare delivery and insurance...
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Caution: D&O and Foreign Shareholders

Firms that heralded a 2010 U.S. Supreme Court case barring plaintiffs from bringing class...

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New Discussions in the Forums

FL. Septic Tank Contractor Market
Posted: Wed Jun 13 -- I'd be glad to help. Admitted for an Environmental Contractor in FL will be tough. I've got markets, and can write it very easily. My... Adame526
Calling all experienced MGAs...is this a fair deal?
Posted: Wed Jun 13 -- Thanks Ladybroker and haylee for your input. I am working now in this arrangement. I agree haylee the offer is attractive termswise and... youngun58
Credit Card Processing
Posted: Tue Jun 12 -- I am also a small agency and do very few credit card transactions. The rate is one piece of the pie but the monthly fee is what can eat you... beyert1
Symbol 31 on an Hyuandi
Posted: Tue Jun 12 -- Keep in mind that ISO adjusted their symbols effective model year 2011 that now go up to 75 instead of 27. This 31 is equivalent to the old... davictor52
Just another day in the retail insurance biz
Posted: Tue Jun 12 -- NY Agent you have some good points but as you know==as a general rule usage questions and rate class questions are there to otherwise help... William Graham
Try weekly reviews in your agency.
Posted: Mon Jun 11 -- I like to do a "weekly review" each Sunday for the upcoming week. Here are some things I look at: - If you keep a to-do list, review it... johnsharp

Reader Comments

C.M. Meiers Preliminary Injunction Decided, But Far From Over
Posted: Fri Jun 8 -- Are you kidding? Obviously you must love soap opera's you're always commenting you seem to have some sort of grudge, get over it, they... IA
Administration Ready to Respond on Healthcare Reform Ruling
Posted: Mon Jun 11 -- I would agree with you, but you got the guy wrong. If we re-elect Obama, the country is toast before the end of his second term. First Agent
Georgia Mom Posed as Dead Son to Collect $151K From Insurance Policy
Posted: Fri Jun 8 -- Typically, the IJ article misses important stuff, such as this from the The Atlanta Journal-Constitution: "When she submitted a claim, she... Dot Hemath
Court Revives Employee Lawsuit Over Racist Receipt
Posted: Mon Jun 11 -- I don't get it. I have been called all kinds of names and have had racist epiphets hurled at me over the years. My sister and I once asked... Water Bug
Couple Sue Over Fallen Waikiki Tree Branch
Posted: Mon Jun 11 -- So a law was in place to protect the tree rather than folks who might walk under it. I think our priorities are askew. Water Bug

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