Insurance Matters By Jason Shroot: 201209

Saturday, September 29, 2012

Maryland Law for Moped Riders Goes Into Effect Oct. 1

September 27, 2012Email ThisPrintNewslettersTweetArticle2 Comments

Maryland moped riders will have to wear helmets and eye protection beginning Monday, Oct. 1.

100 Yosemite Workers Tested For Hantavirus

September 28, 2012Email ThisPrintNewslettersTweetArticleComments

California public health officials have tested 100 workers at Yosemite National Park to determine whether they were exposed to the deadly mouse-borne hantavirus.

Nine people who spent time at the park this year have been infected with the rare virus, the majority after staying at the “Signature” cabins in Curry Village. Three of them died.

KTVU-TV Oakland reported 100 park workers submitted to voluntary testing on Wednesday and they have been ordered not to discuss the testing.

It’s not known when the tests will be completed or if they will be made public.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: public health, safetyHave a hot lead? Email us at newsdesk

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Louisiana Seeks to Use Hurricane Recovery Money for Pre-K Program

September 28, 2012Email ThisPrintNewslettersTweetArticle2 Comments

Gov. Bobby Jindal’s administration wants to shift $20 million in hurricane recovery dollars for hurricanes Gustav and Ike to fill in budget gaps in the state’s free preschool program for at-risk students.

The proposal, which requires approval from the U.S. Department of Housing and Urban Development, has been posted for public comment.

The hurricane recovery dollars were included in the $75 million annual budget for the Cecil J. Picard LA4 Early Childhood Program for the fiscal year that began July 1, a budget approved by lawmakers in June.

Preschool access won’t expand with the money. The dollars will plug part of a budget hole created when federal stimulus funding that had been used for the program disappeared.

Jindal’s chief budget adviser, Commissioner of Administration Paul Rainwater, said the spending will help people impacted by the storms by offering pre-kindergarten education to 4-year-olds in low- to moderate-income families in hurricane-damaged parishes.

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Calif.’s Brown Record ‘Solid’ on Insurance Legislation

September 28, 2012Email ThisPrintNewslettersTweetArticleComments

Gov. Jerry Brown saw over a dozen bills related in some way to insurance come across his desk, with a bill to approve driverless cars, a bill to overhaul California’s workers’ compensation system among them.

He’s signed or vetoed most of the bills he’ll take up this year, but it’s hard to say definitevely whether Brown was a friend of foe to the insurance industry.

But you can say he’s been mostly on solid ground with the industry.

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White House Readies Executive Order on Cybersecurity

September 25, 2012Email ThisPrintNewslettersTweetArticle16 CommentsThe White House is preparing to direct federal agencies to develop voluntary cybersecurity guidelines for owners of power, water and other critical infrastructure facilities, according to people who said they had seen recent drafts of an executive order.

The prospective order would give the agencies 90 days to propose new regulations and create a new cybersecurity council at the Department of Homeland Security with representatives from the Defense Department, Justice Department, Director of National Intelligence and the Department of Commerce, a former government cyber-security official told Reuters.

“It tells those who have the ability to regulate to go forth and do so,” said the person, who is currently outside the government and spoke on condition of anonymity in order to preserve access to government officials.

The draft executive order includes elements of what had been the leading cybersecurity overhaul bill in the Senate, which was defeated this summer amid opposition from industries opposed to increased regulation.

Senate Homeland Security Committee Chairman Joe Lieberman, an independent and one of the principal authors of that bill, on Monday urged the White House to issue such an order.

“The Department of Homeland Security has clear authority, if directed by you, to conduct risk assessments of critical infrastructure, identify those systems or assets that are most vulnerable to cyber attack and issue voluntary standards for those critical systems or assets to maintain adequate cybersecurity,” Lieberman wrote to President Barack Obama.

The document has been circulating among the agencies and might go to top officials for their comments as soon as this week, another person involved in the process said.

A spokeswoman for the administration’s National Security Council, Caitlin Hayden, confirmed that an order was being considered but would not provide details. “We’re not commenting on the elements,” Hayden said.

PUBLIC-PRIVATE COOPERATION

Former White House cybersecurity policy coordinator Howard Schmidt said the proposed order would also ask DHS to confer with independent agencies, such as electric regulators and others that don’t answer to the president, to see who would take responsibility on cybersecurity.

The hope, said Schmidt, who has seen a recent draft, is that if those agencies won’t let DHS act they would do it themselves, as the Securities and Exchange Commission did in October when it issued guidance on when companies should disclose cyber attacks.

The Commerce Department and the Pentagon declined to comment. Spokespeople for Lieberman and for Senator John Rockefeller, another Democratic leader on the issue who has asked for an executive order, said their offices had not been given copies of the draft.

Cybersecurity has become a major issue in Congress and for the White House, with intelligence officials warning of constant exploration of protected computer systems by hackers and both past incursions and the likelihood of more damaging future attacks on electric plants, banks and stock exchanges.

As of two weeks ago, the planned order did not include any penalties for companies that fail to adhere to the standards. or rewards for those who do. “There are no carrots or sticks,” one person with a recent copy said.

If the order emerges before the election in November, it could become an issue in the campaign. Leading Republicans faulted the Lieberman bill as too onerous. The U.S. Chamber of Commerce, which also criticized that bill, declined to comment on Monday on the merits of a prospective order.

But Lieberman said his bill had been watered down in pursuit of a compromise and asked in his letter Monday that Obama explore means for making the standards mandatory.

Both Lieberman and administration officials have said they will still seek legislation, which could go further in many ways. It might, for example, provide liability protection for companies that share information with government officials or that meet the standards but still get hacked.

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: federal cybersecurity legisaltion, Obama Administration cybersecurity executive order, Senate cybersecurity billHave a hot lead? Email us at newsdesk

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Colorado Officials Take Sides in Fracking Dispute

September 25, 2012Email ThisPrintNewslettersTweetArticleComments

Some 60 mayors and city council members from 17 communities have asked Colorado Gov. John Hickenlooper to have the state drop a lawsuit over fracking that challenges oil and gas drilling rules adopted by the city of Longmont.

The (Grand Junction) Daily Sentinel reported that the signers include the entire boards of Carbondale, Crested Butte, Lyons, Westminster and Bennett.

At issue is whether the state alone has the power to regulate oil and gas drilling, or whether local communities can add stipulations to how and where drilling can be performed. Hickenlooper and the energy producers argue that a patchwork of regulations is unworkable.

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EPIC Expands into Vintage Auto, Racing Industry

September 25, 2012Email ThisPrintNewslettersTweetArticleComments

EPIC (Edgewood Partners Insurance Center), a retail property, casualty and employee benefits insurance brokerage, has formed a new division, EPIC Motorsports. Operated by EPIC’s own collectors and racers, this division provides customers with insurance assistance for collector cars, racing, and associated industry vendors.

The initial concept for EPIC Motorsports came from the Historic Motor Sports Association’s (HMSA) President, Cris Vandagriff and David Alvarado, a commercial insurance broker with EPIC. A vintage racer and fellow auto enthusiast, Alvarado discussed the specific insurance needs of the motorsports industry with Vandagriff, and the shortage of necessary insurance products.

This conversation prompted Alvarado to develop HMSA Insurance Services and ultimately EPIC Motorsports. With this addition, EPIC, which specializes in insuring high net-worth customers, now offers coverage for the true stated value of a vintage vehicle along with other specific and manuscript coverages for collector and race cars.

EPIC Motorsports will provide auto collectors and vintage comprehensive insurance through the HMSA program. Offerings such as earthquake coverage, no mileage restrictions, “on track” protection, and higher policy limits are available.

In addition to collector and race car coverage, the HMSA program extends insurance to homes, regular use vehicles, art, jewelry, and personal umbrella/excess liability coverage.

Alvarado’s team includes Stan Sanchez and Beth Ward. Sanchez has spent six years focused on creating insurance products for luxury car collections as well as collecting and restoring cars himself.

Beth Ward brings twenty years of insurance experience and knowledge on the subject of all motorsports.

EPIC is an California-based retail property & casualty and employee benefits insurance brokerage firm with eight offices across California (Los Angeles, Irvine, Fresno, Folsom, San Francisco, San Mateo, Petaluma and San Ramon).

Email ThisPrintNewslettersTweetCategories: National NewsTopics: collector cars, collectors, High-Net Worth, luxury cars, Markets/Coverages, personal autoHave a hot lead? Email us at newsdesk

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Tuesday, September 25, 2012

Vanessa-Care: Health Coverage Without Lifetime Limits

New Report: Health Care Law Saves Money for Consumers

What does it mean to truly “THANK” your customers?

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The journey so far- What I’ve learned about writing a book

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Sunday, September 23, 2012

WTO Cuts 2012 Global Trade Growth Forecast to 2.5%

September 21, 2012Email ThisPrintNewslettersTweetArticleCommentsWorld trade will grow by a mere 2.5 percent this year, dragged down by Europe to less than half of the previous 20-year average, the World Trade Organization (WTO) said on Friday.

The WTO cut its estimate from a 2012 growth forecast of 3.7 percent it made in April and also lowered its forecast for 2013 to 4.5 percent growth from 5.6 percent.

“I see the risk more on the downside than the upside,” WTO Director General Pascal Lamy said at a news conference in Singapore. “What could be surprising is that you have a volume of trade that is lower than world (economic) growth.”

The WTO figures are based on world economic growth of 2.1 percent in 2012 and 2.4 percent 2013, which it said was a consensus estimate of economic forecasts.

“The main reason for the growth slowdown is of course Europe,” said Lamy, who will step down next year as head of the 157-member group that has so far failed to agree on major reforms of global trade rules.

“We also know U.S. growth is lower than expected, (and) Japan is not in great shape.”

The WTO now expects 1.5 percent growth in exports from developed economies this year, instead of the previous forecast of 2 percent.

Those from developing countries are seen posting 3.5 percent growth, down from 5.6 percent previously.

It sees developed nations more than doubling their export growth to 3.3 percent next year and developing countries exporting 5.7 percent more.

The WTO said in a statement that its 2013 estimates assumed current policy measures would be enough to avoid a breakup of the euro and that agreement would be reached to stabilize public finances in the United States and avoid automatic spending cuts and tax increases early next year.

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: International NewsTopics: decrease, Economy, Europe, forecast, GDP, growth, world trade, WTOHave a hot lead? Email us at newsdesk

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Boisseau Named to AXIS Capital Board; Charman Resigns Seat

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Bermuda-based AXIS Capital Holdings Limited announcedthat its Board of Directors has appointed Jane Boisseau as a member of the Board, effective December 2012. She is a former co-chair of the Insurance Regulatory Department of the law firm Dewey & LeBoeuf LLP, with substantial experience in a variety of insurance regulatory and transactional matters.

Boisseau began practicing law in 1985 at LeBoeuf, Lamb, Leiby & MacRae, the predecessor firm to Dewey & LeBoeuf. She holds a law degree from the New York University School of Law.

Boisseau will take the seat on the Board of Directors vacated by John Charman, who has resigned as a member of the Board, effective immediately. His decision follows the action taken by the board in June to remove him from his position as Chairman of the Board.

AXIS explained that the move had been made necessary as it was unable to resolve differences with Charman

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Ageas to Acquire Groupama Insurance (UK)

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Dutch-Belgian insurance group Ageas (the successor to Fortis) has confirmed that it has signed an agreement, through its UK subsidiary, to acquire Groupama Insurance Company Limited (GICL), the UK subsidiary of France’s Groupama, for a total consideration of

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ACE Appoints Ashley, Henderson, Cassidy to Bermuda Reinsurance Unit

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

ACE has announced three appointments in its ACE Tempest Re Bermuda reinsurance unit: Wayne Ashley as Chief Underwriting Officer, International; Graeme Henderson as Vice President, International; and Darin Cassidy as Vice President, USA. All will be based in Hamilton, Bermuda.

Ashley will have responsibility for ACE Tempest Re Bermuda’s business with primary insurers outside of North America and will report to Tim Mardon, Division President, ACE Tempest Re Bermuda., Ashley, who has nearly 18 years of experience in the industry, joined ACE Tempest Re Bermuda in 2006 as Assistant Vice President, International, and was promoted to Vice President in 2009 and Senior Vice President earlier this year. He formerly was with Alea London, where he underwrote the International treaty portfolio. He began his career in London at Zurich Re in 1994 in the Reinsurance Treaty unit.

Henderson, who will report to Ashley, will join ACE from Axis Reinsurance Company, where he has been since 2005, most recently as an Underwriter for the International business in Bermuda. He previously worked for Marsh Global Markets in Bermuda. Henderson is a Bermudian. He received a Bachelor of Arts degree in Political Science from McGill University in Montreal and holds the Chartered Property Casualty Underwriter (CPCU), Associate in Reinsurance (ARe) and Certified Catastrophe Risk Analyst (CCRA) designations.

Cassidy, who has been promoted within the USA unit, will continue to report to Brock Webel, Chief Underwriting Officer, USA Property Catastrophe and Specialty lines. He joined ACE Tempest Re Bermuda in 2004 as a catastrophe analyst, then moved to the USA underwriting team in 2008 and was promoted to Assistant Vice President in 2010. He is also a Bermudian, and received his Bachelor of Arts degree in Public Relations and Advertising and an MBA from the University of Central Florida.

Source: ACE Group

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Facebook IPO Lawsuits Likely to Be Heard by New York Judge

September 21, 2012Email ThisPrintNewslettersTweetArticleCommentsFacebook Inc. and most of its adversaries in a raft of lawsuits over its $16 billion initial public offering can agree on at least one thing: that the cases should be heard in a New York court.

At a hearing on Thursday, lawyers for both sides asked a judicial panel to pool together dozens of lawsuits against the social networking company in Manhattan federal court. The panel made no immediate ruling, but did not question the idea of grouping the cases in New York.

In at least 33 lawsuits seeking class-action status, Facebook investors have asked courts to hold the company and its underwriters responsible for causing them losses in the IPO in May. Investors say they lost money due to technical glitches on the Nasdaq stock market and accuse the company of selectively disclosing unflattering information about its business prospects to Wall Street analysts who then shared it with privileged investors.

Facebook’s IPO was one of the most hotly anticipated in recent memory, but the technical malfunctions embarrassed the company and the NASDAQ. The lawsuits, which seek unspecified damages, could cost Facebook millions of dollars to defend, as it strives to put the IPO problems behind it.

While lawsuits have been also been filed in California, Florida and Washington, D.C., most plaintiffs and the defendants say the cases should proceed in New York because witnesses, evidence relating to the IPO, and the underwriter banks are all in that city.

“We’re glad to be in New York and we’d like to stay here,” Andrew Clubok, a lawyer for Facebook, told the Judicial Panel on Multidistrict Litigation at the hearing in Manhattan federal court.

The only lawyer to speak against consolidation of the cases represented plaintiffs in two “derivative” lawsuits currently before a federal judge in San Francisco. Those suits seek to hold Facebook’s board and Chief Executive Mark Zuckerberg responsible for damage they claim was done to the company.

The derivatives plaintiffs say the litigation should take place in California state court, near Facebook’s headquarters, for easy access to witnesses and documents.

The 11-judge multidistrict panel, which meets periodically to decide where wide-ranging litigation should be consolidated, is expected to issue a decision within weeks. Seven judges were present for Thursday’s hearing.

Most of the cases are in New York already, and have been added to the docket of Manhattan federal judge Robert Sweet ever since he was randomly assigned the first complaint.

“There may be a good chance that Judge Sweet could get this case,” panel Judge Paul Barbadoro of New Hampshire said, prompting laughs from the crowded courtroom.

Facebook has said that it did not violate any rules and that Nasdaq was to blame for trading glitches on its first day of trading.

NASDAQ OMX Group Inc. is also facing investor lawsuits that claim it was negligent in failing to execute trades in the face of record-breaking volume during the IPO.

William Slaughter, an attorney for NASDAQ, told the judges on Thursday that the exchange agreed those cases should also be before Judge Sweet, but that they should proceed on a separate track from the Facebook lawsuits.

“The two sets of actions … really don’t have much in common,” he said.

The case is In Re: Facebook Inc., IPO Securities and Derivative Litigation, U.S. Judicial Panel on Multidistrict Litigation, No. 12-md-2389.

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: D&O liability, directors and officers liability, Facebook IPO, Facebook IPO lawsuits, securities lawsuitsHave a hot lead? Email us at newsdesk

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Insurers Face Tougher Times as Somali Piracy Drops

September 21, 2012Email ThisPrintNewslettersTweetArticleCommentsA dramatic fall in pirate attacks off the Somali coast is forcing down the cost of piracy insurance for commercial ships, taking the shine off a fast-growing and lucrative market for London-based insurers.

International navies have cracked down on pirates, including strikes on their coastal bases, and ship firms are increasingly using armed guards and defensive measures on vessels including barbed wire, scaring off Somali seaborne gangs.

That reduced the number of incidents involving Somali pirates to just 69 in the first half of 2012, compared with 163 in the same period last year, according to watchdog the International Maritime Bureau.

“The chance of pirates being able to carry out successful hijackings is now very slim, which is probably deterring many would-be pirates from going to sea,” said Rory Lamrock, an intelligence analyst with security firm AKE.

War torn Somalia is next to the Gulf of Aden’s busy shipping lanes, and poverty has in recent years tempted many young men to take up piracy, storming commercial vessels and holding their crews and cargo to ransom.

Last year, they netted $160 million, and cost the world economy some $7 billion, according to the American One Earth Future foundation.

The drop in Somali pirate activity is weighing on the market for so-called marine kidnap and ransom insurance, which has grown from scratch to be worth about $250 million in little more than five years, according to informal industry estimates.

Spending on marine K&R cover, which indemnifies ship owners against the cost of paying ransoms and recovering vessels and crew, has halved compared with two years ago, estimates Will Miller of Special Contingency Risks, a unit of insurance broker Willis.

“We are seeing a softening in the rates that underwriters are charging for piracy cover,” Miller said. “The key driver is the implementation of more robust security measures on board by the shipping community.”

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Lawsuit Over NFL Concussions Filed in Mississippi

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

A federal lawsuit filed in Mississippi on behalf of more than 50 former NFL players claims the league conspired to hide the dangers of concussions and brain trauma associated with professional football.

The lawsuit was filed Aug. 28 in U.S. District Court in Jackson. Some of the players named in the lawsuit are from Mississippi, but others are not. More than 140 similar lawsuits have been filed around the country on behalf of 3,377 former players.

NFL spokesman Brian McCarthy said the “NFL has long made player safety a priority” and that any “allegation that the NFL intentionally sought to mislead players has no merit.”

Among other things, the lawsuit claims the NFL created “false scientific studies” and spread misinformation about the long-term consequences of concussions and other brain injuries.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: football safety, NFL concussions, NFL lawsuit in Mississippi, NFL players' head injuries, players sue NFLHave a hot lead? Email us at newsdesk

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Florida Appeals Denial of Federal Disaster Aid for Isaac Damage

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Florida Gov. Rick Scott is appealing the federal government’s decision to deny additional aid for damage caused by Hurricane Isaac last month. Scott is also asking for more aid than originally requested.

On Sept. 19, the Federal Emergency Management Agency denied Scott’s request that President Barack Obama issue a disaster declaration.

Florida’s initial request of $26.8 million was for public assistance for Bay, Collier, Escambia, Monroe, Okaloosa, Palm Beach and Santa Rosa counties.

In its appeal Florida is also also including Broward, Franklin and Martin counties, where estimated damage is now nearly $10 million.

This brings the total statewide initial damage figure for the 10 counties to $36.7 million.

“We agree with the request of Florida U.S. Senator Bill Nelson and Florida U.S. Congressman Alcee Hastings who also sent a letter to the President on September 12, 2012 expressing their support for the major disaster declaration,” Scott wrote in his appeal to FEMA.

Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: disaster declaration, FEMA disaster aid, Florida disaster aid, Hurricane Isaac lossesHave a hot lead? Email us at newsdesk

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Man Sues Nebraska Claiming Gender Discrimination

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

A federal court in Nebraska will take up a lawsuit that accuses the Nebraska Department of Administrative Services of allowing a supervisor to demean and discriminate against men in her department.

The lawsuit, filed last year by Mike Hoover against the state and two Administrative Services officials, was moved to Nebraska’s federal court.

Hoover, now of Dallas, says in the lawsuit that while he was employed in the department from March 2007 to February 2010, his supervisor, Amy Archuleta, discriminated against him and other male employees. The discrimination included obscene references made by Archuleta to men in her department and derogatory remarks about how

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Drought Area Expands in Northern U.S., Eases in South

September 21, 2012Email ThisPrintNewslettersTweetArticleCommentsThe worst drought to hit the United States in a half century expanded in the upper Midwest and northern Plains states in the past week due to warmer- and drier-than-normal weather, but loosened its grip on some central and southern areas of the country.

Nearly 65 percent of the contiguous United States were under at least

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Ex-Cadets Seek Sanctions Against Kansas Military School

September 21, 2012Email ThisPrintNewslettersTweetArticle1 Comments

Former cadets of a Kansas military school have asked a federal judge to impose sanctions and order the school to release information about prior complaints, records and lawsuits they say would show a pattern of abuse.

Tuesday’s filing is part of an ongoing lawsuit by 11 students and their families against St. John’s Military School in Salina. The students sued earlier this year, contending the school’s quasi-military cadet program, which gives higher-ranking cadets the power to discipline students, encourages physical and mental abuse. The lawsuit claims the cadet program not only fails to prevent but also tacitly encourages violent acts among students.

St. John’s has vehemently denied culture of abuse exists at the school and has vowed to fight the lawsuit.

The latest legal dustup comes as the sides prepare for the October 2013 trial.

The plaintiffs contend the school has repeatedly refused to provide information about prior similar incidents, as well as certain internal documents and financial data. It is seeking internal reports regarding complaints of abuse, nurse assessments of student injuries, photographs or video depicting hazing or harassment.

The court document contends the information that plaintiffs are seeking to court to force school officials to turn over

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Civil Lawsuit Filed in Tulsa Skyscraper Death

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

An Oklahoma woman accused of pushing her husband to his death from their high-rise apartment has filed a wrongful-death lawsuit against the building’s owner.

Amber Hilberling, 20, filed the lawsuit against University Club Tower. Hilberling remained jailed on a second-degree murder charge in last year’s death of Joshua Hilberling, 23, who fell from their 25th-floor apartment.

The lawsuit says Joshua Hilberling

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Chrysler Factory Employee Kills Co-Worker, Self in Detroit

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

An employee fatally stabbed a co-worker Thursday at a Chrysler factory in Detroit and then fled to a city park where he killed himself, police said.

The stabbing was reported around 8 a.m. at a Chrysler plant that makes the Jeep Grand Cherokee and Dodge Durango full-size SUVs.

Police found the suspect at Belle Isle, a park minutes away in the Detroit River, where he shot himself inside his vehicle and died, Sgt. Alan Quinn said. The names of the men were not immediately released.

Quinn said he had no information about what led to the stabbing or the relationship between the men. On Belle Isle, police tape was used to restrict access to the area near the vehicle.

The Jefferson North plant employs just more than 3,000 workers on two shifts. No other employees were injured, and workers on the first shift were sent home, said Jodi Tinson, a spokeswoman at Chrysler Group LLC.

A TV station showed some employees driving away in tears.

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Penn State to Bring in Victim Fund Veteran Feinberg

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Penn State plans to bring in the man who ran the Sept. 11 victim fund and other major compensation programs to help it settle claims by Jerry Sandusky’s child molestation victims, a plaintiffs’ lawyer said Thursday.

St. Paul, Minn., attorney Jeff Anderson said a lawyer for the university notified him in recent days that the school will be aided by lawyer Ken Feinberg.

“Any action toward bringing resolution and transparency is better than no action, and actions speak louder than words,” Anderson said.

Feinberg and university spokesman Dave La Torre both declined to comment.

Lawyers for Sandusky’s victims and other potential claimants had complained recently that the school had not followed up on its pledge to settle the civil claims quickly and fairly. Attorneys told The Associated Press this month that they had very limited contact with the university and, if that continued, more lawsuits were expected.

Philadelphia lawyer Joel Feller, part of a team that represents four of the 10 victims in Sandusky’s criminal case, as well as Sandusky’s adopted son Matt Sandusky and other claimants, confirmed he also was contacted by Penn State about Feinberg’s participation.

Feller said he was waiting to learn more about how the school plans to proceed.

“Whether this is a positive or negative step will be determined solely by Penn State taking responsibility for the compensatory and punitive damages owed to these young men,” Feller said.

It’s unclear precisely what role Feinberg and his firm will play, what compensation they might be getting or whether Penn State has made critical decisions about how much money to offer, where it will come from, how victims will be evaluated and the mechanism for making payments.

Feinberg also ran victim compensation funds for victims of Agent Orange, the Virginia Tech massacre and the Gulf of Mexico oil spill. He outlined some of the possible approaches for such funds in his new book, “Who Gets What: Fair Compensation after Tragedy and Financial Upheaval,” which details the processes he’s used.

He writes that more than $7 billion in taxpayer money was used to pay survivors of the 2001 terror attacks, with an average award for death about $2 million, for injury about $400,000. Ninety-eight percent of claimants participated, and just 94 families opted out so they could sue.

After the Virginia Tech shooting, $6.5 million was distributed among 32 families, including five faculty members, using a methodology that took into account the length of hospital stays for those who survived.

The BP spill led to establishment of the Gulf Coast Claims Facility, which as of March had paid more than $6 billion to some 169,000 claimants.

Sandusky, 68, is scheduled to be sentenced next month on 45 child sexual abuse counts. Given his age, the number of charges and serious nature of the crimes, he will likely receive a state prison term that will keep in behind bars for the rest of his life.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: East NewsTopics: Jerry Sandusky, Liability, Penn StateHave a hot lead? Email us at newsdesk

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Argo Group Names Betz President of U.S. Surety Operation

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Argo Group International Holdings Ltd. has promoted Josh Betz to president of Argo Surety, Argo Group’s Houston, Texas-based U.S. surety operation. He reports to Chief Financial Officer Jay Bullock.

Betz previously held the position of senior vice president and chief underwriting officer for Argo Surety. He has worked in the commercial surety business as a managing director for Travelers and as an underwriter at both CNA Surety and Reliance Surety.

Source: Argo Group

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Coloradoan Wins $7 Million In Popcorn Lung Lawsuit

September 21, 2012Email ThisPrintNewslettersTweetArticle6 Comments

A suburban Denver man who was diagnosed with “popcorn lung,” possibly from inhaling the artificial butter smell of the microwave popcorn he regularly ate, has won a $7.2 million verdict against various food companies.

Wayne Watson’s attorney, Ken McClain, said a federal jury granted the award Wednesday against Gilster-Mary Lee Corp., The Kroger Co. and Dillon Companies Inc. after he developed respiratory problems in 2007.

Watson previously settled claims against the flavor developer FONA International Inc., formerly Flavors of North America Inc.

Watson argued the companies failed to warn consumers that inhaling the buttery aroma could put them at risk of lung injury.

KCNC-TV in Denver reports defense attorneys had argued Watson’s health problems stemmed not from popcorn but from his years of working with carpet-cleaning chemicals.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: Colorado, lawsuitHave a hot lead? Email us at newsdesk

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Montana Legal Group Gets $1.2M From Settlement Over Insurance Fees

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

State insurance officials say a Montana legal services charity will receive $1.2 million from a law firm that represented plaintiffs in a class-action lawsuit over insurance fees.

Montana Securities and Insurance Commissioner Monica Lindeen is scheduled to announce final resolution of the lawsuit against Farmers Group, Inc. in Billings on Thursday.

After Farmers struck a $455 million deal to settle the case more than a year ago, officials from several states protested the return of unclaimed settlement funds to the company’s subsidiaries.

The $1.2 million from the plaintiff’s attorneys will go to Montana Justice Foundation, a non-profit group that gives grants for legal assistance for people who can’t afford an attorney.

Lindeen’s office says the foundation has seen its annual budget cut by more than 80 percent since 2007.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: Montana, settlementHave a hot lead? Email us at newsdesk

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Mississippi Insurance Losses from Isaac Under $25 Million

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Private insurers expect to pay more than $24.3 million in claims in Mississippi as a result of Hurricane Isaac, Insurance Commissioner Mike Chaney said.

Chaney said that as of Sept. 19, Mississippi’s 21 largest insurers had received 9,400 claims and paid $8.6 million.

That’s low compared Hurricane Katrina’s $41 billion in insured damage nationwide. Isaac is expected to cause up to $2 billion in losses in areas it passed through.

At least another 8,000 Isaac claims are expected to be filed, the Insurance Department said. The number doesn’t include claims in the federal flood insurance program or crop insurance.

Of private claims, about $16 million in expected from homeowners’ policies and about $3 million from automobile policies. Chaney said Mississippi Farm Bureau Casualty Insurance Co. and USAA are reporting the most claims.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: Hurricane Isaac losses, Mississippi Isaac lossesHave a hot lead? Email us at newsdesk

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Former Hackensack, N.J., Police Chief Sentenced for Insurance Fraud

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

A judge sentenced former Hackensack Police Chief Ken Zisa to five years in prison on Thursday.

Zisa will remain free on bail while he appeals his conviction for improperly removing his then-girlfriend from the scene of an accident in 2008 and filing a fraudulent insurance claim for $11,000 in damages.

Zisa was sentenced to five years for official misconduct and three years for insurance fraud. The terms will run concurrently.

The Record newspaper reports Zisa told the judge he had nothing to add to what his lawyer already said.

In an unusual move last week, the judge overturned three official misconduct convictions stemming from allegations that Zisa failed to recuse himself from a 2004 investigation of his then-girlfriend’s sons.

The judge said he had substantial concerns about the evidence.

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No Surprise, I-35 Tops List of Texas’ 100 Most Congested Roadways

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

A portion of Interstate 35 that traverses Fort Worth is the most congested roadway in Texas, according to the state Department of Transportation.

Topping TxDOTs’ list of the state’s most congested roadways is a section of I-35W in Ft. Worth that caused Texas motorists to spend more than 2 million more hours traveling on a section of road that is only 3.7 miles long.

I-35 spans the country from the border with Mexico all the way to Canada. That it appears multiple times on TxDOT’s 2012 list of the 100 Most Congested Roadways likely comes as no surprise to those that travel the highway regularly.

The 100 Most Congested Roadways illustrates the severity and extent of the Lone Star State’s traffic problem, TxDOT says. Results show 40 percent of the delay encountered by drivers takes place in the top 20 roadways on the list. Additionally, the total delay in hours

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Oklahoma Joins Suit Challenging Dodd-Frank Financial Overhaul

September 21, 2012Email ThisPrintNewslettersTweetArticle1 Comments

The State of Oklahoma has joined a lawsuit challenging the constitutionality of Dodd-Frank, a financial overhaul designed to

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Chartis Private Client Group Expands, Enhances Wildfire Protection Unit

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Chartis has enhanced its Private Client Group’s Wildfire Protection Unit with geographic expansion and improved monitoring technologies. The unit now is available to clients in additional areas of Colorado.

The Wildfire Protection Unit is a complimentary loss mitigation service designed to help at-risk clients preempt avoidable fire damage to their properties. Response areas, defined at a zip code level, already include locations across Northern California, Southern California, Texas and other parts of Colorado.

Well before an active wildfire develops, Private Client Group clients in these locales can enroll to receive at-home consultations with Chartis’ team of wildfire mitigation specialists. With an emphasis on preparedness and education, the specialists look to identify wildfire hazards around the home and surrounding property, and offer wildfire mitigation recommendations. If warranted, the specialists also will apply a specially formulated fire retardant around the perimeter of the property. The retardant creates an added layer of protection that can last throughout the wildfire season.

In addition to one-on-one consultations, the Wildfire Protection Unit utilizes a disaster intelligence center powered by RedZone Software to track U.S. wildfire behavior, conditions, direction and changing fire perimeters. Mapping technology identifies insured homes in real time as wildfires approach and provides Chartis’ trucks with fire monitoring capabilities. In the event of an active wildfire within the service response areas, Chartis dispatches its Wildfire Protection Unit. Access permitting and in cooperation with local authorities, trucks equipped with fire retardant will attempt to visit vulnerable homes to bolster their defenses.

Although the Wildfire Protection Unit is not a private fire department, all mitigation specialists are firefighters with an average of five years of wildland fire experience. Wildfire Protection Unit crew members are Chartis employees, and all trucks and equipment are owned and managed by Chartis.

With the Wildfire Protection Unit service expansion in Colorado, Private Client Group clients residing in the following areas now can enroll to participate:

Arvada (80007)Boulder (80302, 80303, 80304)Cascade (80809)Castle Rock (80108, 80109)Colorado Springs (80840, 80902, 80903, 80904, 80905, 80906, 80907, 80919, 80921, 80926)Evergreen (80439)Golden (80401, 80403)Larkspur (80118)Littleton (80125, 80127)Longmont (80503)Manitou Springs (80829)Monument (80132)Morrison (80465)Palmer Lake (80133)Sedalia (80135)Telluride (81435)Woodland Park (80863)Email ThisPrintNewslettersTweetCategories: National NewsTopics: expansion, geographical expansion, High-Net Worth, homeowners insurance, Markets/Coverages, wildfiresHave a hot lead? Email us at newsdesk

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New Jersey Holds Its First Captive Insurance Summit

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

New Jersey regulators held their first captive insurance summit this Wednesday in Somerset, N.J. The event, hosted by the state’s department of banking and insurance, attracted some 50 industry executives.

Regulators took the opportunity to discuss New Jersey’s captive law and regulations, the admission process, and emerging captive trends and issues.

The department of banking and insurance stated that since New Jersey Governor Chris Christie signed the captive law into effect in 2011, the department officials have taken an active approach to fostering growth in the captive insurance marketplace.

The Wednesday’s event included two panel discussions. The first panel focused on the specifics of the New Jersey law, the admissions process and what potential applicants can expect when starting a captive insurer. Some of the topics discussed included reviewing the captive structures that fit the needs of an interested party; re-domestications; interactions with the regulators; the application and formation process; choosing service providers; timing and other expectations; and final approval/certification by the department.

The second panel discussed national issues faced by captive insurers and their owners. Some of the issues discussed at the panel included: employee benefits; international events; reputational risk; the Nonadmitted and Reinsurance Reform Act (NRRA) and state self-procurement tax; the hardening insurance market; cyber risk coverage; and Terrorism Risk Insurance Act (TRIA) risk.

Since the state’s captive law was signed into law, four captives have been approved by regulators. Kenneth Kobylowski, acting commissioner of the state department of banking and insurance, said at the event that eight prospective captive insurers are now in the pipeline. “There is no question that this is just the beginning,” he said.

Kobylowski also told attendees that a growing number of companies are thinking about forming captives to gain greater control of their ability to identify, manage, and finance insurable risks.

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Brandmovers Launches Promotional Risk Management Insurance Co.

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Brandmovers, Inc. has launched Brandsurance, an industry-focused insurance company to work alongside their digital engagement initiatives.

Brandsurance will specialize in promotional risk management and partner with marketing/advertising agencies, brands, and other ROI-minded clients to implement more effective promotions, sweepstakes, games and contests. Brandsurance will offer a portfolio of classic promotions along with digital offers help clients meet or exceed their marketing objectives and eliminate their financial risk.

Brandsurance has more than twenty years of experience managing fixed fee promotions that include prize redemption and over-redemption coverage. It works as part of a turnkey promotional product that enables clients to run programs for a flat rate that will come in on budget.

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Ex-Maine Cheerleader Sues School for Injury Suffered During Practice

September 21, 2012Email ThisPrintNewslettersTweetArticle4 Comments

A former Poland Regional High School cheerleader has sued her coach and the school district for head injuries she says she received during practice.

Olivia Doyer of Mechanic Falls and her parents, Douglas and Roxanne Doyer, filed the lawsuit Tuesday in Androscoggin County Superior Court.

They are seeking unspecified damages related to ongoing medical expenses.

The complaint says that in March 2010, Olivia Doyer fell to the floor while practicing a stunt, suffering a neck and brain injuries, including a concussion. She told the Sun Journal she suffered the aftereffects of a concussion, which plagued her for more than a year with physical symptoms and limited her academic progress.

She said she couldn’t turn her head without getting dizzy, was bothered by bright light, and slept a lot.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: East NewsTopics: lawsuit, MaineHave a hot lead? Email us at newsdesk

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Fatal Work Injuries Decline

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

The number of fatal work injuries in 2011 in the U.S. was slightly lower than in 2010. Last year, 4,609 workers died from work-related injuries, down from a final count of 4,690 in 2010.

The Bureau of Labor Statistics’ National Census of Fatal Occupational Injuries released preliminary statistics.

“It’s a step in the right direction, but more needs to be done,” said Secretary of Labor Hilda L. Solis. “We will continue to collaborate with employers, workers, labor leaders, and safety and health professionals to ensure that every American who clocks in for a shift can make it home safe and sound at the end of the day.”

She said that on average, 13 workers lose their lives every day, and that loss “ripples throughout” families and communities.”

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Workplace Injuries Less Likely Where Employers Provide Paid Sick Leave

September 21, 2012Email ThisPrintNewslettersTweetArticleComments

Workers with access to paid sick leave are 28 percent less likely overall to suffer nonfatal occupational injuries than workers without access to paid sick leave, according to a National Institute for Occupational Safety and Health (NIOSH) study.

The study found that workers in high-risk occupations and industries such as construction, manufacturing, agriculture, and health care and social assistance, appear to benefit most from paid sick leave.

The NIOSH study, by Abay Asfaw, PhD, Regina Pana-Cryan, PhD, and Roger R. Rosa, PhD, was published in the American Journal of Public Health.

The authors suggest that by providing an income, paid sick leave might keep some people who are sick from going back to work before they are ready, thereby making workplaces safer.

The 1993 Family and Medical Leave Act requires employers to provide up to 12 weeks of leave to eligible workers, however this does not have to be paid leave. The researchers said that 43 percent of U.S. private sector workers reported having no access to paid sick leave. The study used data on 38 000 working adults.

The authors conclude that improved access to paid sick leave might help businesses reduce occupational injuries and, in turn, reduce employers’ costs.

“Our findings suggest that, similar to other investments in worker safety and health, introducing or expanding paid sick leave programs might help businesses reduce the incidence of nonfatal occupational injuries, particularly in high-risk sectors and occupations,” the authors wrote.

They also said that previous research has shown that paid sick leave is associated with shorter worker recovery times and reduced complications from minor health problems.

“We hope that our study along with previous research that supports our findings and conclusions will encourage policy makers and employers to consider the overall well-being of workers when making policy or funding decisions. Such a holistic approach would lead to more integrated development of programs that both prevent occupational injury and illness and improve other aspects of worker health,” the authors stated.

Source: NIOSH

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Insurers risk bank-inspired crackdown: Lloyd's CEO

MONACO (Reuters) - Insurers could be caught up in a fresh regulatory backlash triggered by banking scandals such as the Libor rate-rigging affair, the head of the Lloyd's of London insurance market said.

"We are always having to deal with the fallout of the actions of others and the regulators responding accordingly," Lloyd's Chief Executive Richard Ward told Reuters.

"You have the Libor scandal, all the stuff with Standard in the U.S. - that doesn't help restore the image of financial services in the eyes of the public, the politicians and regulators."

British bank Barclays was fined $450 million earlier this year for rigging the London Interbank Offered Rate, a key lending rate used to set prices for a wide range financial transactions.

Rival Standard Chartered agreed last month to pay $340 million to settle allegations by a New York regulator that it carried out banned transactions with Iran.

The latest allegations of misconduct by British banks, which also include the potential mis-selling of complex derivative hedges to small business borrowers, could prompt regulators to police insurers and banks alike more aggressively, Ward said.

"There's always going to be increased regulatory scrutiny when there are people doing things which are wrong," he said on the sidelines of the reinsurance industry's annual meeting in Monte Carlo.

"The 2008 financial crisis was not an insurance crisis, it was a banking crisis. All the regulatory changes we've experienced in the UK have been driven by the banking crisis."

Insurers have for the last four years been lobbying for an exemption from proposed new regulations aimed at preventing a repeat of the 2008 crisis, arguing that the meltdown was caused largely by the banking industry.

Under rules being drafted by regulators from the G20 group of countries, insurers or banks deemed big enough to destabilize the financial system if they collapsed could be forced to hold an additional capital buffer.

Insurers say they do not pose a "systemic" threat, unlike banks, because they do not lend money and their customers cannot withdraw their cash overnight, and argue regulators should treat them more leniently.

"Any business that just undertakes insurance should not get onto any list of systemically important financial institutions," Ward said.

(Reporting by Myles Neligan; Editing by Hans-Juergen Peters)

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