Wednesday, 31 October 2012

Daily Headlines: Wednesday, October 31, 2012

Claims Journal Daily Headlines
October 31, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West

Today's Headlines

National

As Spending Increases Halloween Claims Rise

According to the National Retail Federation, the average person spent $79.82 on decorations, costumes and candy this year, up from $72.31 ...

Insured Losses from Sandy Estimated Between $7-$15B: AIR

Catastrophe modeling firm AIR Worldwide estimates that insured losses from Sandy to onshore properties in the U.S. will be between $7 ...

Catastrophe Bonds Unbowed by Hurricane Sandy

Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely ...

U.S. Supreme Court Weighs Protection Against Gray Market Imports

Several justices on the U.S. Supreme Court voiced concern on Monday about letting U.S. copyright holders block the resale inside the ...

Halloween Is 'Deadliest Day' of the Year for Child Pedestrian Fatalities

Kids have a greater chance of being fatally injured by a car on Halloween than any other day of the year, including the Fourth of July and ...
East

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 ...

Hurricane Deductibles Not Applicable to Sandy-Related Connecticut Claims

The Connecticut insurance department issued a notice alerting the insurance industry that companies may not impose a hurricane deductible ...

Rhode Island Hurricane Barrier Gets High Marks

Rhode Island officials say Providence's hurricane barrier performed well as high tides added to problems created by the pounding by ...

Roofs of 3 Buildings Torn by Wind in Alexandria

At least three buildings in Alexandria, Va., have sustained heavy damage from former Hurricane Sandy. Virginia State Police say three ...

Hurricane Sandy Silences Atlantic City's Casinos

Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of ...

Manulife Says Hurricane Sandy Exposure is 'Manageable'

Manulife Financial, one of North America's largest insurers, said its exposure to Hurricane Sandy was manageable and within its risk ...

Water Quality an Issue in Wake of Superstorm

Water quality in Connecticut may have been compromised by sewage backups or pollution caused by raging seawater churned up by Superstorm ...
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Midwest

$1.75M Settlement Reached in August Busch IV Wrongful Death Case

Former beer baron August Busch IV has agreed to pay $1.75 million to settle a wrongful death lawsuit over his former girlfriend's ...

South Dakota Sees Increase in Wildfire Numbers and Intensity

Record heat and extended drought sparked a huge increase in the number and severity of wildfires in South Dakota this year, forcing the ...

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 Life Terms in Missouri Insurance Agent's Death

A St. Louis, Mo., man was sentenced to two life terms for his part in the robbery and murder of St. Charles insurance agent in 2007. Before ...
Southeast

Nearly 1,300 Drivers Convicted of Texting in Georgia

State records show that fewer than 50 drivers a month have been convicted of texting and driving in the two years since a law to ban ...

Hulk Hogan Settles Lawsuit With Florida DJ

Former pro wrestler Hulk Hogan entered into a legal settlement with a disc jockey over a sex tape involving Hogan and the DJ's wife. A ...

C8 Science Panel Releases Final Report in West Virginia

A science panel says it has found probable links between high cholesterol in mid-Ohio Valley residents and their exposure to a chemical ...
South Central

Louisiana Parish Officials Expect 75 Percent Restitution

Livingston Parish, La., officials are still putting together bills for their costs from Hurricane Isaac but say they only expect to be ...

Louisiana Seatbelt Use at Record High

The use of seatbelts in Louisiana has reached a record high of 79.3 percent this year. It's a factor officials say is contributing to the ...

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

Hawaii Construction Worker Dies After Wall Collapse

Hawaii military officials are investigating the collapse of a cinder block wall that killed a construction worker at a Schofield Barracks ...

Suit Over Fatal Washington Ice Cave Collapse Dismissed

A federal judge has dismissed a lawsuit over a Washington state ice cave collapse that killed an 11-year-old girl in 2010. Grace Tam was ...

Utah Man Seriously Injured After Jack Gives Way

A West Point, Utah, man is seriously injured after a jack gave way and the truck he was working on at a home fell on top of him. ...
International

Typhoon Son Tinh Kills 7 in Vietnam, 32 Total

Typhoon Son Tinh blew the roofs off thousands of homes in northern Vietnam, killing at least seven people and raising its death toll over ...

Aftershock: 6.2 Quake Off British Columbia Coast

The U.S. Geological Survey says a magnitude 6.2 earthquake off the west coast of Canada on Monday night is an aftershock of the magnitude ...

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Accenture's Claim Components Software

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Industry Foundation's Strategy to Address Coming Workforce Shortage

Kevin Brown, executive director of the Griffith Insurance Education Foundation and the CPCU...

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Daily Headlines: Wednesday, October 31, 2012

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Insurance Journal Daily Headlines
October 31, 2012
News By Region  National  International  East  Midwest  Southeast  South Central  West Video

Today's Headlines

National

Insured Losses From Hurricane Sandy $7-$15 Billion: AIR Worldwide

Catastrophe modeling firm AIR Worldwide estimated Tuesday evening that insured losses from Hurricane Sandy to onshore properties in the ...

Supreme Court Weighs Key 'Gray' Market Copyright Case

Several justices on the U.S. Supreme Court voiced concern on Monday about letting U.S. copyright holders block the resale inside the ...

Bank Holding Cos. Set Record in Insurance Brokerage Fee Income: Report

Bank holding companies (BHCs) set new records in insurance brokerage fee income in the second quarter and year-to-date (YTD) in the first ...

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 ...
Sponsored by: MyNewMarkets.com. Need a Market? Find It. Fast! Click here for more information.
East

Hurricane Sandy Silences Atlantic City's Casinos

Hurricane Sandy has silenced the thousands of slot machines and high-rollers who normally crowd the black jack and roulette tables of ...

Manhattan Power Outages to Continue for Days: ConEd

Residents of lower Manhattan faced up to four days without power on Tuesday as Consolidated Edison, New York City's power provider, ...

Vermont 'Lucked Out' in Sandy Hit, but Many Still Powerless

Thousands of Vermonters remain without power and schools are closed from one end of the state to the other, but experts say the state was ...

N.Y. Gov. Cuomo Says Long Island Hit Hardest by Sandy Power Outages

New York Gov. Andrew Cuomo said yesterday that 90 percent of Long Island utility customers were without electricity after Sandy ravaged the ...
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Midwest

2 Life Terms in Missouri Insurance Agent's Death

A St. Louis man was sentenced to two life terms for his part in the robbery and murder of St. Charles, Mo., insurance agent in 2007. Before ...

Missouri AG: $36K Settlement with Company for Violating No-Call Law

Attorney General Chris Koster announced he has reached a settlement with Innovative Wealth Builders Inc., requiring the Florida business to ...

Indiana Company Rebuilding Year After Big Blaze

A year after a spectacular fire destroyed its main facility, a Fort Wayne, Ind., company has overcome a series of bureaucratic hurdles and ...

Wisconsin Woman Cited for Three DWI Crashes in Three Hours

A Verona, Wis., woman has been cited for drunken driving after the 21-year-old allegedly caused three crashes in less than three hours. ...
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Southeast

1,300 Drivers Convicted of Texting Under Georgia's 2-Year Old Law

State records in Georgia show that about 50 drivers a month have been convicted of texting and driving in the two years since a law to ban ...

Faulkner Estate in Mississippi Files Copyright Suit Over Quotes in Movie, Ad

William Faulkner wrote that the past is never dead. His heirs say their copyright to that phrase is very much alive. The author's literary ...

Insurers Say Losses from Sandy Won't Hit Florida

Insurance experts say the costs associated with losses from superstorm Sandy in the northeast should not affect Florida homeowners. Sam ...
Scary Insurance Dreams from Academy of Insurance
South Central

Deals in Louisiana Resolve 'Who Dat?' Trademark Claims

Settlements have resolved a Louisiana recording company's claims against two T-shirt vendors and a restaurant over merchandising rights to ...

Killian Joins Lockton Dunning Benefits in Dallas

Lockton Dunning Benefits announced Josh Killian has joined the Dallas-based health and welfare benefits consulting practice as director of ...

HCC Insurance Holdings Reports Record Net Earnings in Q3

Houston-based HCC Insurance Holdings Inc. reported a record $107.1 million in net earnings for the third quarter ended Sept. 30, 2012. By ...
West

Sandy Dominates Southern California PCI Conference

The subject of Hurricane Sandy dominated a conference of insurance professionals in Southern California on Tuesday - it was heavily used in ...

Viera Joins Woodruff-Sawyer in Southern California

San Francisco, Calif.-based Woodruff-Sawyer & Co. named Elena Viera as a vice president of employee benefits for Southern California. ...

Lawsuit Over Fatal Washington Ice Cave Collapse Dismissed

A federal judge has dismissed a lawsuit over a Washington state ice cave collapse that killed an 11-year-old girl in 2010. Grace Tam was ...

Native Seed Shortage Hampers Nevada, Utah Wildfire Recovery

High demand for native plant seeds in Nevada and Utah is pushing up the price and leaving short supplies following an extreme wildfire year ...
International

Canada's Manulife Says Reinsurace Exposure to Hurricane Sandy 'Manageable'

Toronto-based Manulife Financial, one of North America's largest insurers, said its exposure to Hurricane Sandy was manageable and within ...

Hong Kong Again Named World's Top Financial Centre

Hong Kong was named the world's top financial centre for the second year running by the World Economic Forum (WEF), thanks to the strength ...
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Insurance Journal Blogs

Burand's Agency E&O Blog: Tip #15

Review Your E&O Carrier's Requirements for Carrier Writing Standards. There's a myth going around that if an agency writes with a carrier ...

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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...

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New Discussions in the Forums

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
Query on Your Work Exclusion under CGL
Posted: Mon Oct 29 -- Exclusion J (2) says "this insurance does not apply to property damage to premises you sell, give away or abandon, if hte property damage... Porsh
Personal Articles Floater-Midwest
Posted: Fri Oct 26 -- You are trying to find someone who has a minimum premium below $250? I can't see where it would cost effective to do that for a carrier.... INTLXS
Designation Suggestions
Posted: Fri Oct 26 -- Having earned both CIC and the CPCU designations, CIC is basically "Insurance 101" for agency personnel while the CPCU and CRM programs will... earlybird

Reader Comments

Wisconsin Workplace Shooting Brings Call for New Law on Guns
Posted: Wed Oct 24 -- He ignored the restraining order and the laws associated with it - what makes anyone believe that additional legislation will prevent or... An American
Health Insurers Nervous Over Prospect of Romney Victory
Posted: Tue Oct 30 -- I see and Obama alway's tells us the truth? Bob
Car and Deer Collisions Cause 200 Deaths, Cost $4 Billion a Year
Posted: Wed Oct 24 -- Another issue that the author fails to mention is the ever expanding deer population due to a lack of predators, either natural or human. 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

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October 22, 2012
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Copyright © 2012 by Wells Media Group, Inc.

New Markets Daily: October 31, 2012

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October 31, 2012

Workers Compensation

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Feature Articles

Verisk Insurance Solutions Enhances Foreclosure Alert Product

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Markets in Motion: Insuring Wineries

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Travelers Will Continue to Seek Improved Pricing: CEO Fishman

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WC Class Code 9096- CA

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Contents coverage

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Insurance Journal Classifieds Alert: Wednesday, October 31, 2012

Insurance Journal Classifieds
October 31, 2012
Post a Job to our job board! Only $199 for 30 days. Post a Job

In this Issue


Featured Job of the Week

Trucking Insurance Producer/Sales

A thorough understanding of the trucking industry and the insurance products necessary to the transportation industry is required. Qualifications: An active, California Property & Casualty Agent...
Customer Service / CSR

Customer Service Representative

East Bay Insurance agency seeking energetic individual to manage/service/write commercial small to medium sized P&C book of business with little to no producer involvement. Proficient with on-line...
Location: Pleasant Hill, CA

Commercial Insurance Specialist

This position is responsible for account management of small to large commercial property & casualty accounts including new and renewal business. Candidate should have solid knowledge of carrier...
Location: Aurora, CO
More Opportunities [return to top]
Finance

Life Insurance Agent

About TWG: At TWG, our clients trust us. In fact, gaining and honoring their trust is our strongest selling point. So we're more than just a bit selective when it comes to hiring new people. But if...
Location: Irving, TX
More Opportunities [return to top]
Management

Vice President of Claims – Commercial P&C - Great Telecommuting Opportunity

About the Job: GREAT TELECOMMUTING OPPORTUNITY. The right candidate for this high-level telecommuting position will have overall responsibility for the company's entire claims department. He/she will...
Location: Anywhere

Commercial Lines Property and Casualty Director

Commercial Lines Property and Casualty Director A+ Rated Property and Casualty Insurer If your underwriting career has come up against a roadblock here's a great opportunity leap into that management...
Location: IA
More Opportunities [return to top]
Marketing

Commercial Lines Marketing Rep

Due to continued growth and record premium revenue to date in 2012, we are hiring for a full-time, permanent Commercial Lines Marketing Representative in our Foster City, CA office. The position pays...
Location: Foster City, CA

Regional Sales Manager

We are seeking a qualified candidate to lead a group of sales people employed by our customers and enrolled in a sales and insurance training program designed to bring youth, energy and new business...
Location: Wayne, PA

Marketing Representative - Idaho & Eastern Oregon

Grange Insurance Association has an exciting opportunity in Boise, Idaho as a Marketing Representative. Grange Insurance Association has been providing protection for families and farms in the western...
Location: Boise, ID
More Opportunities [return to top]
Other

Casualty Broker

S.H. Smith & Company, Inc. is one of the largest independently owned excess and surplus brokers in the country. We have been in business since 1982 under the current ownership structure, and the...
Location: Hartford, CT

Insurance Regulated Staff Attorney

The Lexington, Kentucky office of Frost Brown Todd LLC, one of the largest regional law firms in the Midwest and one of the 150 largest law firms in the United States, seeks a staff attorney to assist...
Location: Lexington, KY
More Opportunities [return to top]
Sales

Experienced Commercial Auto and GL Sales/Processing Rep

In need of an experienced licensed person who can sell and write Commercial Auto and GL policies. We have a large book of business where we do not control the Auto nor the GL. Easy selling and...
Location: Woodland Hills, CA

Trucking Insurance Producer/Sales

A thorough understanding of the trucking industry and the insurance products necessary to the transportation industry is required. Qualifications: An active, California Property & Casualty Agent...
Location: Headquarters in Canoga Park, CA
More Opportunities [return to top]
Underwriting

Commercial / Ag Underwriter

Abram Interstate Insurance Services, Inc. in Sacramento, CA is looking for a seasoned Commercial or Ag Underwriter. If you know of anyone who is looking for a great place to work, please send them our...
Location: Sacramento, CA

Product Manager - Personal Lines Auto

We enjoy telling the Republic Story. It is the story of a company with a venerable past and an exciting future. It is the story of a company that is committed to the people we serve and to our...
Location: Dallas, TX
More Opportunities [return to top]
Agencies For Sale / Wanted

Quality Personal Lines Agency

94% personal lines, 6% commercial - average 30K commission growth a year Majority homeowners, high renewals and low losses. We are a full lines agency and this is a turn key sale.  All Computers,...
More Agencies For Sale / Wanted [return to top]

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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Copyright © 2012 by Wells Media Group, Inc.