Insurance Matters By Jason Shroot: 201302

Sunday, February 24, 2013

Xchanging Launches ‘X-presso’ – Mobile App for Claims Files

February 13, 2013Email ThisPrintNewslettersTweetArticleComments

London-based Xchanging, the business process, procurement and technology services provider and integrator, announced the launch of its mobile application for the insurance market. Called X-presso, the new app

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India to Ensure Refiners Running Iran Crude Oil Get Insurance: Source

February 13, 2013Email ThisPrintNewslettersTweetArticle1 CommentsIndia will ensure its refiners have insurance for plants that run crude from Iran, a government source said on Wednesday, allaying fears that imports from the sanctions-hit country may have to be halted.

State-run refiner Hindustan Petroleum Corp said on Tuesday it might not be able to use Iranian crude at its plants from June if insurers refused to renew contracts on its plants because of western sanctions.

India, one of Tehran’s biggest clients and heavily reliant on oil imports, has already had to organize emergency cover for ships carrying Iranian crude after sanctions made it difficult for domestic insurers to secure reinsurance.

“As long as it is for Indian consumption, why shouldn’t we?” said the source, when asked if India would arrange insurance for refineries that process Iranian crude.

“Oil is as basic as food. Just as you need food, you need oil,” added the source, who declined to be named because of the sensitivity of the matter.

The source did not give details, however, on how the insurance would be arranged or how much cover would be offered.

The sanctions, which target Iran’s oil revenues and financing, have blocked European and U.S. companies from deals with Tehran in virtually every non-essential sphere, including insurance.

Although Indian insurers do not fall directly under the sanctions, they depend on the Western reinsurance market to hedge their risk.

India’s emergency insurance for ships, however, totals only a fraction of the $1 billion coverage that a supertanker would typically get from reinsurers against pollution and personal injury claims, and only one ship has so far used it for deliveries from Iran.

HPCL is Iran’s third-largest Indian client and has lifted about 46,000 barrels per day (bpd) in the current contract year that ends on March 31.

Indian insurers have told fellow state-run refiner MRPL that they will fully cover its facility to handle larger crude vessels only if it gives an undertaking not to use the single point mooring for vessels carrying Iranian crude.

MRPL is Iran’s biggest client in India alongside privately owned Essar. While state-run refiners sell all their petroleum products on the domestic market, Essar exports some of its output.

The source did not clarify whether Essar’s facilities would be covered by any emergency insurance.

An Essar spokesman declined to comment. (

Editing by Jo Winterbottom and Jane Baird)

Copyright 2013 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: International NewsTopics: India Iran crude oil, sanctions refineries insuranceHave a hot lead? Email us at newsdesk

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Main Street America Reports 2012 Results

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The Main Street America Group announced today its 2012 financial results included an 11.9 percent return on equity, $978 million net written premium, surplus growth of $71 million and net income of $56.7 million for the fiscal year ended Dec. 31, 2012.

The company squeaked out an underwriting profit, reporting a 99.9 combined ratio for 2012.

The 11.9 percent return on equity was driven by investment returns of $83.2 million. The company’s return on equity in 2011 was 2.7 percent.

Net income of $56.7 million was an 80 percent gain over the prior year ($31.5 million) when, the company said, its results were heavily affected by $63 million in catastrophe losses. In 2012, the company sustained $23 million in catastrophe losses.

The combined ratio of 99.9 was an improvement over the company’s 2011 catastrophe-heavy 106.7 combined ratio.

Commercial lines, which the insurer said accounts for 58 percent of its net written premium, achieved a 92.6 combined ratio and 8.5 percent premium growth. Its surety unit posted a 90.5 combined ratio and 15 percent premium growth. Overall, the company’s four regions achieved a 98.5 combined ratio and 3.9 percent direct premium growth.

Net written premium of $978 million was a 10 percent increase over the prior year ($889 million).

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Judge Denies Wells Fargo Attempt to Block Financial Crisis Suit

February 13, 2013Email ThisPrintNewslettersTweetArticle1 CommentsA federal judge on Tuesday denied Wells Fargo’s attempt to beat back a financial-crisis lawsuit by arguing it conflicted with an earlier settlement.

District Judge Rosemary Collyer in Washington, who is supervising the 2012 multi-bank $25 billion mortgage misconduct settlement, said she did not agree with the bank’s assessment of that settlement.

But she declined to rule on the new Justice Department lawsuit, which is seeking damages and penalties for more than 10 years of alleged misconduct related to government-insured Federal Housing Administration loans, and left a federal court in New York to determine whether the two conflict.

The fourth-largest U.S. bank had asked Collyer in November to rule that the government violated the terms of the multi-bank deal in filing a new case.

Wells Fargo said the earlier consent judgment “wiped the slate clean” for the bank in terms of certain conduct related to its FHA portfolio.

But on Tuesday, Collyer said the language in the settlement “does not have the meaning ascribed to it by Wells Fargo,” and denied the bank’s request for an order enforcing the settlement.

A spokesman for Wells Fargo had no immediate comment. A spokeswoman for the U.S. Attorney’s office in Manhattan, which brought the lawsuit, did not immediately respond to a request for comment

Copyright 2013 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: Wells Fargo financial crisis, Wells Fargo Justice Department, Wells Fargo mortgage lawsuitHave a hot lead? Email us at newsdesk

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Oklahoma Bill Would Regulate Pharmacy Benefit Managers

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A bill introduced in the Oklahoma Legislature seeks to regulate pharmacy benefit managers

State Rep. David Derby (R-Owasso) and state Sen. Rob Standridge (R-Norman) introduced House 2100, to bring pharmacy benefit managers under the regulation of the Oklahoma State Board of Pharmacy.

Derby said pharmacy benefit managers have increasingly become direct deliverers of prescription drugs to patients through out-of-state mail-order systems, but have yet to be regulated in the same way as their licensed colleagues practicing in the Oklahoma retail community pharmacy setting.

To protect patients under industry confidentiality standards and to minimize wasteful prescriptions in a costly industry, House Bill 2100 would extend well-meaning regulation to this larger prescription drug delivery industry.

Derby pointed out the issue at the core of the legislation.

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Apple CEO Cook Calls Lawsuit ‘Silly Sideshow’

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Apple CEO Tim Cook calls a shareholder lawsuit against the company a “silly sideshow” but says he is open to looking at the shareholder’s proposals for sharing more cash with investors.

Last week, investor David Einhorn sued Apple Inc., saying a proposal slated for a vote at the company’s annual meeting in two weeks would make it more difficult to enact his plan to reward shareholders by distributing a new class of shares.

Cook says the proposal puts more power in the hands of shareholders, making it difficult to understand why a shareholder would fight it.

Repeating previous statements, Cook says the company is “seriously” looking at ways to hand out more cash to shareholders.

Cook was speaking at a Goldman Sachs investor conference in San Francisco.

Starr Indemnity Approved to Participate in Federal Crop Insurance Program

February 13, 2013Email ThisPrintNewslettersTweetArticleComments

Starr Indemnity & Liability Co. has received approval from the Risk Management Agency of the United States Department of Agriculture to participate as an Approved Insurance Provider in the federal multi-peril crop insurance program for 2013.

Starr Indemnity & Liability Company will be working with International Ag Insurance Solutions, LLC, the managing general agency for the program.

Starr is an insurance and investment organization with a presence on five continents; through its operating insurance companies, Starr provides property, casualty, and accident & health insurance products as well as a range of specialty coverages including aviation, marine, energy and excess casualty insurance.

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Florida Regulator McCarty Offers Reform Map to Smaller Citizens Property Insurance

January 25, 2013Email ThisPrintNewslettersTweetArticle4 Comments

Florida’s insurance commissioner has proposed a set of reforms designed to return the state-back property insurer to being a residual market, while at the same time offering the private insurance market incentives to take on more property risks.

Insurance Commissioner Kevin McCarty unveiled his proposals as lawmakers, regulators, business groups and other stakeholders begin a process that they hope will shrink the size of Citizens Property Insurance Corp. with its 1.3 million customers.

At a recent Florida Senate and Banking Insurance Committee meeting, Chair David Simmons, R-Altamonte Springs, said he believes it is time to seriously change the dynamics in the market while at the same time acknowledging that the path ahead will not be easy.

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Blogger Defends Against Cincinnati Bengals Cheerleader’s Defamation Claim

January 25, 2013Email ThisPrintNewslettersTweetArticle1 Comments

A gossip website operator defended himself in court this week against a defamation lawsuit by arguing that a former Cincinnati Bengals cheerleader featured in posts on the site is a public figure.

Hooman Karamian, who goes by the name Nik Richie, testified in a northern Kentucky court that cheerleader Sarah Jones was on national television and participated in community events because of the high-profile job. Public figures trying prove defamation have a higher burden than those who aren’t in the public eye.

He also said his Arizona-based website, thedirty.com, is similar to Facebook, Twitter and YouTube in the way it features user content. Richie has said the two posts cited in Jones’ lawsuit included text and photos submitted by people who knew her.

“My position is freedom of speech, and people are entitled to their own opinion,” Richie testified. “This is America.”

Jones, a onetime teacher who pleaded guilty to having sex with her 17-year-old former student, is suing Richie and the website over two posts in 2009 that were unrelated to her relationship with the teen.

Her attorney, Eric Deters, is arguing that the posts tarnished her reputation as a teacher and Bengals cheerleader, causing her severe emotional distress.

Jones, 27, testified Wednesday before Richie took the stand that the posts were devastating.

In the first post in October 2009, Jones is pictured smiling for the camera with a former kicker for the Bengals. The caption says she had sex with every member of the team.

The second showed her in a bikini from one of the Bengals calendars. It claimed that her ex-husband contracted chlamydia and gonorrhea after cheating on her with more than 50 women, and that he likely gave it to her.

Richie said in an interview last week that the comments came from someone who knew Jones and had access to photos she posted on Facebook. He said the only thing he wrote about Jones was in the second post, saying, “Why are all high school teachers freaks in the sacks?”

“As a teacher with those things on the Internet, that I slept with all the Bengals and had two STDs, I didn’t want to face my students,” Jones said Wednesday, adding that she had to tell all her classes that the posts were untrue.

Under questioning from Richie’s attorney, Jones testified that she kept both jobs after the posts and that no one who knew her believed they were true.

Richie’s attorney, Alexis Mattingly, showed jurors glossy calendar photos of Jones wearing bikinis and reminded them that Jones lied to police, her family and her bosses about her relationship with the teenager.

She also read to the jurors text messages between Jones and the teen and transcripts of her interviews with police, all in an effort to attack her credibility and character.

Jones has said repeatedly that she has only had sex with two people, her former husband and the teenager.

Jones pleaded guilty in October to having sex with the teen and avoided jail time. The two are still together.

Jones resigned from Dixie Heights High School and from the Bengals cheer squad in late 2011 after four years in both jobs. Deters said at the time that Jones had done nothing wrong but stepped down because of rumors about her relationship with the teen

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Midwest NewsTopics: blogger liability, celebrity defamation, cheerleader defamation alwsuit, cheerleader public figure defense defamation, Cincinnati Bengals cheerleader, gossip website, Nik Richie, Sarah Jones, thedirty.comHave a hot lead? Email us at newsdesk

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Federal Watchdog Issues Report on Gas Pipeline Safety

January 25, 2013Email ThisPrintNewslettersTweetArticle1 Comments

Federal regulators must account for response times in the data they collect from transmission operators on natural gas pipeline incidents, a congressional watchdog agency said this week.

The U.S. Government Accountability Office said in a report that the Pipeline and Hazardous Materials Safety Administration, which oversees natural gas, oil and hazardous liquids pipelines in the U.S., doesn’t require operators to fill out certain time-related fields when reporting incidents. Operators also have indicated they interpret the data fields in different ways.

“Reliable data would improve PHMSA’s ability to measure incident response and assist the agency in exploring the feasibility of developing a performance-based approach for improving operator response to pipeline incidents,” the report said.

The report comes a month after a 20-inch line owned by Columbia Gas Transmission ruptured in West Virginia, triggering a massive fire. The Dec. 11 inferno destroyed four homes and charred a section of Interstate 77 near Sissonville, about 15 miles north of Charleston. No one was seriously injured.

Federal investigators say it took Columbia Gas Transmission, a subsidiary of Texas-based NiSource Gas Transmission & Storage, more than an hour to manually shut off the gas that fueled the fire, which sent flames as high as nearby hilltops.

And in September 2010, gas continued to escape for nearly 90 minutes after a ruptured pipeline exploded in a suburb of San Francisco. The explosion, which was blamed on an inferior pipeline weld, killed eight people and destroyed dozens of homes. Investigators said the damage would have been less severe had automatic valves been in place.

The National Transportation Safety Board has long advocated requiring automated valves that could shut off gas in such situations within minutes. Currently, manual valves are required at intervals

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Louisiana Insurance Department Helps Consumers Recover $6.4 Million

January 25, 2013Email ThisPrintNewslettersTweetArticleComments

The Louisiana Department of Insurance helped policyholders recover an additional $6.4 million in disputes with insurers in 2012.

Insurance Commissioner Jim Donelon told The Advocate that insurers made the additional payments after consumers complained to the Insurance Department about the original claims payments. The department worked with both sides to resolve the disputes.

Donelon said the department received 4,927 consumer inquiries and more than 3,074 consumer complaints in 2012. Inquiries involve consumers asking for information.

Donelon said the majority of both inquiries and complaints involved property and casualty insurance.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Texas / South Central NewsTopics: Louisiana consumer complaints, Louisiana consumer disputes, Louisiana Insurance Commissioner Jim DonelonHave a hot lead? Email us at newsdesk

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West Virginia Municipal Insurer Balks at Defending Sheriff

January 25, 2013Email ThisPrintNewslettersTweetArticle1 Comments

The insurance pool for West Virginia county governments asked a judge Thursday to declare that it has no obligation to defend a Jefferson County sheriff who resigned in disgrace and pleaded guilty in the beating of a bank robbery suspect.

Robert Shirley pleaded guilty earlier this month to violating the rights of suspect Mark Daniel Haines after a 2010 car chase. A second count of falsifying records was dismissed.

Shirley faces up to 10 years in prison and a $250,000 fine when sentenced in U.S. District Court in Martinsburg and is on home detention until then. No date has been set.

A related civil lawsuit that Haines filed, meanwhile, is set to be tried this fall.

But the West Virginia Counties Group Self-Insurance Risk Pool said it wants Judge John Preston Bailey to rule that it doesn’t have to defend Shirley in that case or pay any damages that may be awarded.

Its contract “specifically excludes coverage for, among other things, ‘Expected or Intended Injury,’ ‘Fraud and Dishonesty,’ and ‘Punitive Damages,”’ the motion argues.

The county risk pool also wants the judge to limit its obligations for two co-defendants, deputies Joseph Forman and Terry Palmer. It argues it should not have to pay any punitive damages if they’re awarded in these cases.

The risk pool also wants Bailey to let it formally intervene in the case and to address the coverage issues first.

Bailey didn’t immediately rule.

Shirley was re-elected to a new four-year term in November, even as he faced the beating allegations. The County Commission has named a temporary replacement but is still deciding how to permanently fill his post.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: municipal liability, West Virginia Counties Group Self-Insurance Risk Pool, West Virginia sheriff defenseHave a hot lead? Email us at newsdesk

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New Mexico Weighs Reform of Taxi, Shuttle Regulation

January 25, 2013Email ThisPrintNewslettersTweetArticleComments

Lawmakers are proposing to revamp state regulation of taxis and moving companies to potential lower costs for consumers.

Reps. Tom Taylor, a Farmington Republican, and Carl Trujillo, a Santa Fe Democrat, are sponsoring the measure to make it easier for taxis, shuttles and limousines to expand their services into more parts of the state.

The proposal also will eliminate rate regulation of intrastate moving companies, treating them like interstate moving companies that are regulated for safety and insurance liability.

An independent think tank, called Think New Mexico, has recommended modernizing the regulation of motor carriers by the Public Regulation Commission.

The think tank was a leading advocate of constitutional amendments approved by voters last year to overhaul the PRC, including establishing an independent insurance regulator.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: New Mexico Public Regulation Commission, New Mexico shuttle regulation, New Mexico taxi insurance, New Mexico taxi regulation, taxi liabilityHave a hot lead? Email us at newsdesk

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Wife Files Lawsuit In Hawaii Police Restraint Death

January 25, 2013Email ThisPrintNewslettersTweetArticle6 Comments

A wrongful death lawsuit has been filed in the case of a Hawaii man who died while being restrained by police.

The Honolulu Star-Advertiser reported Michele Y.M.H. Torres, the wife of 37-year-old Aaron Torres, is suing the city of Honolulu and the three police officers who restrained her husband at their home on Feb. 20, 2012 after he called 911.

Torres died while handcuffed, shackled and held face-down.

The medical examiner has determined that Torres suffocated and has ruled the death a homicide.

The autopsy also said Torres had cocaine in his blood, and that a contributing cause and significant condition in the death was his history of chronic cocaine abuse.

The city prosecutor declined to pursue criminal charges against the officers.

Leavitt and Konecki Combine in Southern California

January 17, 2013Email ThisPrintNewslettersTweetArticleComments

Solana Beach, Calif.-based Konecki Insurance Brokerage has combined operations with the Leavitt Group’s San Diego office.

In the combined operations, John Konecki will serve as executive vice president in the commercial insurance division, and Carolyn Konecki will serve as a vice president in the personal insurance division.

Konecki Insurance Brokerage was formed by John Konecki in 1990 with Farmers Group of Companies. In 2003, Konecki formed an independent agency, Konecki Insurance Brokerage. In 2012, the agency relocated their offices from San Diego to Solana Beach.

The Leavitt Group is a large, national privately-held insurance brokerage.

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Auto, Homeowner Complaints Dropping in Texas

January 17, 2013Email ThisPrintNewslettersTweetArticle1 Comments

Texas drivers are filing fewer and fewer complaints against insurance companies these days, an insurance trade group reported.

Last year represents the lowest number of justified or confirmed auto insurance complaints filed with the Texas Department of Insurance (TDI) since the agency began tabulating the numbers back in 1994, according to the Insurance Council of Texas.

With 14.7 million auto insurance policies in effect in Texas, TDI reported 988 confirmed complaints into its Consumer Protection division last year. The numbers represent approximately one complaint for every 15,000 auto insurance policies.

Homeowner complaints also continue to drop. TDI reported Texas homeowners filed 460 confirmed complaints against homeowner insurers last year, representing the lowest number of homeowner complaints since 2009. With nearly 6 million homeowner and rental insurance policies in effect, the 2012 complaints represent approximately one complaint for every 13,000 homeowner/rental policies.

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Floods Paralyze Indonesian Capital Jakarta; at Least 4 Die

January 18, 2013Email ThisPrintNewslettersTweetArticleComments

Seasonal rains triggered massive flooding in Indonesia’s capital on Thursday, killing at least four people, triggering the evacuation of at least 20,000 and paralyzing much of the city.

Floods regularly hit parts of Jakarta in the rainy season, but the inundation following an intense rain storm was especially widespread. Few areas of the city of 14 million people were spared, with water levels up to 2-meters (6.5-feet) -high in some places. The main street through the city’s business district was under around 50 centimeters (18 inches) of water, while waters also rushed into the presidential palace.

Traffic ground to a halt as floodwater washed into homes, offices, schools and roads. Most businesses didn’t open for lack of staff.

President Susilo Bambang Yudhoyono and the country’s foreign minister were pictured standing in water up to their shins at the palace waiting for the arrival of Argentina’s President Christina Kirchner, who is on a state visit. The meeting of the two leaders apparently went ahead.

Monsoon rains, deforestation in the hills to the south of the city, chaotic planning and hundreds of rivers and waterways combine to cause floods, which expose the country’s poor infrastructure even as it posts impressive economic growth.

No Relief In Sight for Drought-Stricken Plains States

January 18, 2013Email ThisPrintNewslettersTweetArticleCommentsDry weather should continue through at least the end of January in the drought-stricken U.S. Plains and a blast of Arctic cold air in the Midwest early next week poses a threat to unprotected livestock and possibly some wheat, an agricultural meteorologist said on Friday.

“The hard red winter wheat belt in the Plains looks quiet, dry and cooler next week, but there shouldn’t be a cold air threat in the Plains,” said John Dee, meteorologist for Global Weather Monitoring.

Dee said temperatures would fall to zero (degrees Fahrenheit) or below early next week in the northern Midwest, roughly north of Interstate 80. Coldest readings will be in the northern states of North and South Dakota, Minnesota, Wisconsin, northern Iowa, Illinois and Michigan.

“There’s not a lot of snow cover so there is the potential for some damage. Zero readings could reach as far west as Nebraska,” he said.

Commodity Weather Group (CWG) on Friday said most of the United States remained dry near the end of the week and showers next week would be limited to the eastern Midwest.

“Drought relief will be limited,” said Joel Widenor, CWG meteorologist.

Cold air will push into the U.S. early next week and again late in January but the cold snaps do not appear to be strong enough to damage either U.S. wheat or Florida citrus, according to CWG’s Friday report.

A series of rain showers helped ease drought conditions in parts of the United States over the last week, but drought expanded slightly in parts of the U.S. Plains, according to a report issued on Thursday.

Officials in north-central Oklahoma declared a state of emergency due to record-low reservoir conditions. Public and private interests throughout the central United States hardest hit by drought were examining measures to try to cope with ongoing drought.

The government declared much of the central and southern U.S. Wheat Belt a natural disaster area on Wednesday last week due to persistent drought threatening the winter wheat harvest.

In its first disaster declaration of the new year, the Agriculture Department made growers in large portions of four major wheat-growing states – Kansas, Colorado, Oklahoma and Texas – eligible for low-interest emergency loans.

(Additional reporting by Carey Gillam in Kansas City; Editing by Dale Hudson)

Copyright 2013 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: Colorado drought, Commodity Weather Group, crop insurance payouts, drought crop insurance, Federal Crop Insurance, Kansas drought, Oklahoma drought, Texas drought, U.S. droughts, Wheat BeltHave a hot lead? Email us at newsdesk

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U.S. Issues Mine Safety Rule on Patterns of Violations

January 18, 2013Email ThisPrintNewslettersTweetArticleComments

Labor Secretary of Labor Hilda L. Solis announced a final rule to strengthen safety in the nation’s most dangerous mines.

Solis said that the rule, which revises the Mine Safety and Health Administration’s pattern of violations regulation, seeks to ensure that mine address the most hazardous safety problems in their mines. It also strengthens MSHA’s hand to respond to dangerous mining conditions.

“The tragedy at the Upper Big Branch Mine should not be forgotten. It exacted a terrible toll on the nation, coal miners’ families and coal companies. Over the last three years, the Labor Department has undergone a serious and comprehensive evaluation of mine safety practices, and that has led to reforms to protect America’s miners. The rule we are announcing today will hold mine operators accountable when they disregard life-saving safety measures,” Solis said.

The rule has been submitted to the Federal Register for publication.

Joseph A. Main, assistant secretary of labor for mine safety and health, said the final rule “will help prevent another tragedy such as occurred at the Upper Big Branch Mine” in West Virginia where 29 people were killed.

Main said the rule promotes consistency in applying the pattern of violations (POV) notice as an enforcement tool, provides for a more transparent process and emphasizes operators’ responsibility to comply with safety and health standards and monitor their own compliance.

Under the Federal Mine Safety and Health Act of 1977, MSHA is required to issue a POV notice to any mine operator that demonstrates a disregard for the health and safety of miners through a pattern of significant and substantial violations. An S&S violation is one that contributes to a safety or health hazard that is reasonably likely to result in a reasonably serious injury or illness.

The POV final rule places the MSHA in a better position to identify operators that demonstrate a disregard for the health and safety of miners and have not responded to other enforcement measures.

“There has been recognition by many that the system has been broken, with no mine being placed on POV status until 2011

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Marsh Launches Risk Transfer Product for Wage, Hour Claims

January 8, 2013Email ThisPrintNewslettersTweetArticleComments

With the number of wage and hour claims against employers on the rise, Marsh has launched a new insurance product that reimburses companies for defense costs, settlements, and judgments for actual or alleged violations of the Fair Labor Standards Act (FLSA) or similar state and local laws.

The Marsh Wage and Hour Preferred Solution is offered exclusively through Marsh and its international specialty placement broker Bowring Marsh. The policy provides up to $100 million of insurance coverage for wage and hour claims, which generally are excluded under traditional employment practices liability insurance policies. Examples of such claims include allegations that an employer failed to pay employees for overtime hours worked, failed to provide or pay for meal breaks and rest periods, or misclassified employees as exempt rather than non-exempt from legal overtime provisions.

The number of these claims filed in federal court under the FLSA

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Scottsdale Taps Franke as VP of Contract Underwriting In West

January 8, 2013Email ThisPrintNewslettersTweetArticleComments

Scottsdale Insurance Co. named Steve Franke as vice president of contract underwriting for the Western region.

Franke will oversee the Northwest, Southwest and Pacific regions. He will report to Gary Tiepelman, senior vice president of contract underwriting. Franke replaces Dave McDermid, who retired from Scottsdale in December, 2012.

Franke has 32 years’ experience in the specialty lines business. He most recently served as vice president of agency management and business development at Scottsdale Insurance. Franke has served in management roles at various E&S firms. Franke is also a board member the Surplus Lines Stamping Office of Texas.

Scottsdale Insurance is a wholly owned subsidiary of Nationwide Co.

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Zurich, Swiss Re in $270 Million Excess of Loss Deal for No. Am. Quake Coverage

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

Zurich Insurance Group and Swiss Re have announced that Zurich has obtained, through its subsidiaries Zurich American Insurance Company and Zurich Insurance Company Ltd, a 3-year $270 million catastrophe excess of loss reinsurance protection from Lakeside Re III Ltd. to cover the risk of earthquakes in specific territories in North America.

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Lloyd’s Syndicate ProSight Launches Innovative Independent Film Coverage

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

Lloyd’s Syndicate ProSight 1110 is offering independent film makers’ insurance to cover mishaps during filming, as well as failure to complete a film on time and on budget. It is the

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Florida’s Citizens, Regulators Agree to Restrict Eligibility for New HO-8 Policies

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

Florida’s state-backed property insurer and state regulators have cleared the path for the insurer to begin issuing a new HO-8 policy by limiting it to low-value older homes, addressing concerns that the policies low rates could lead to a potential influx of policies into the insurer.

Citizens Property Insurance Corp. was required by law to start making the HO-8 policy available by January. As initially envisioned, the policy was intended to make Citizens less competitive with the private market by offering a more austere policy, although at a significant lower price.

An HO-8 policy typically provides less coverage than the popular HO-3 policy and pays actual cash value as opposed to replacement cost for damages. However, the HO-8 policy for Citizens became bogged down in controversy when the insurer and regulators could not agree on coverage details, underwriting criteria and rates.

Topping the list of concerns was that the policy would be offered to consumers who qualified for a standard HO-3 all-peril policy at rates roughly 20 percent cheaper, even though regulators required Citizens to offer full replacement coverage to make the policy acceptable to mortgage lenders.

Citizens Board Member Greg Rokeh said at a meeting in December that the policy would prove a draw, not a disincentive for consumers to choose Citizens.

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Kmart vs. Kroger Flooding Case Set for Trial in Mississippi

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

A federal judge has denied requests from the city of Corinth and the Kroger Co. to be dismissed as defendants in a lawsuit over 2010 flooding at the Kmart in Corinth.

Kmart Corp. is seeking compensation for flood damage at the Fulton Crossing location, the store’s closure for about 10 months, and flood prevention efforts in April 2011, when the store was also threatened by flood waters.

The Daily Corinthian reported that U.S. District Judge Glen H. Davidson agreed to a non-jury trial for the city of Corinth separate from the jury trial for Kroger and other defendants. Both trials will begin Feb. 24, 2014 in federal court in Aberdeen.

Kmart sued Corinth, the Federal Emergency Management Agency, The Kroger Co., E&A Southeast Limited Partnership, Fulton Improvements, LLC; and Kansas City Southern Railway Co. FEMA was dismissed as a defendant in June.

The suit alleges that Kroger, Kmart’s neighbor, sits in a floodway and, on May 2, 2010, altered the flow of water from standing water to a rushing, forceful flow of water at the Kmart store.

Kmart argues that the grocery store should have been leveled but in 2005 was allowed to remain in the floodway after a letter of map revision was issued by FEMA. The suit states the city, Kroger and the landlord at the time, E&A, were involved in securing the revision.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: Kmart Kroger flooding case, Mississippi Corinth flooding trial, Mississippi Kmart floodHave a hot lead? Email us at newsdesk

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EPIC Acquires Homeplace Insurance Brokers in Southern California

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

Edgewood Partners Insurance Center entered into an agreement to acquire Ontario, Calif.-based Homeplace Insurance Brokers Inc.

The Ontario team will report to Dan Ryan, EPIC’s managing principal in Orange County.

Homeplace specializes in the design and oversight of risk management and insurance programs for the transportation, warehousing and logistics industries, with an emphasis in trucking coverages. The privately-held company is owned by founder Judy L. Busam.

EPIC operates from nine offices across California: Los Angeles, Irvine, Ontario, Fresno, Folsom, San Francisco, San Mateo, Petaluma and San Ramon.

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New Mexico Proposal: Breathalyzers In Drunk Drivers’ Homes

January 4, 2013Email ThisPrintNewslettersTweetArticleComments

Advocates of ignition interlock devices to combat drunken driving want to expand the requirement so that convicted offenders have to install devices in their home to detect whether they’re using alcohol.

The proposed requirement would apply to offenders who claim they don’t have a vehicle and are not driving, said Richard Roth, director of the group Impact DWI in New Mexico.

As a condition of probation, they would be required to have a home Breathalyzer and blow into the device in the morning and the evening.

According to The New Mexican, the expanded interlock requirement would be the centerpiece of the Santa Fe-based advocacy group’s legislative agenda for the 2013 legislative session that begins Jan. 15.

New Mexico is among states that require an ignition interlock after a driver’s first offense, but Roth said half of offenders do not install them.

Roth said those offenders are four times more likely to be arrested again for DWI than offenders with interlock.

Peter Simonson, executive director of the American Civil Liberties Union of New Mexico, did not immediately respond to a request for comment on the proposed requirement.

Meanwhile, Gov. Susana Martinez wants lawmakers to toughen DWI penalties

She said recently she wants an eighth and subsequent DWI conviction to be a second-degree felony, punishable by 15 years in prison. Martinez also wants felony DWIs to count toward habitual offender status.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: West NewsTopics: breathalyzer, drunk driving, DUI, dwi, ignition lock, Impact DWI, interlocking deviceHave a hot lead? Email us at newsdesk

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S&P Sees No Change for Willis’ Ratings from Goodwill and Remuneration Changes

Featured Stories Texas Homeowners Pay Highest PremiumsFlorida's Citizens Balks at HO-8 Policy NewsMarketsJobs Front Page National International Most Popular Magazine Forums Blogs Videos/Podcasts Newsletters News Most Popular National International East Midwest South Central Southeast West Topics P&C Companies Agents & Brokers Government Markets/Coverages Operations Claims More Topics Magazines East Midwest South Central Southeast West Subscribe Directories Jobs SalesMarketingManagementFinanceClaimsUnderwritingOther Features Events Forums Buyers Guide Insurance Twitter Market Directories Ad Showcase Quotes Polls Subscribe S&P Sees No Change for Willis’ Ratings from Goodwill and Remuneration ChangesDecember 21, 2012Email ThisPrintNewslettersTweetArticleComments

Standard & Poor’s Ratings Services has said that its ratings on Willis Group Holdings PLC (

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Ratings Recap: Echelon, Nationale Suisse, MAPFRE Global Risks/Empresas

based upon the company’s good risk-adjusted capitalization, historically profitable earnings as a result of strong net investment income and low exposure to catastrophic loss,

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Art Insurers Face Record Loss from Superstorm Sandy

December 21, 2012Email ThisPrintNewslettersTweetArticle1 CommentsFine art insurers face claims of up to half a billion dollars, their biggest ever payout, to compensate the owners of artwork destroyed when Superstorm Sandy flooded galleries in New York.

Work by 1960s graphic artist and illustrator Peter Max accounts for the bulk of the loss, landing insurers including Catlin with a claim of $300 million, an industry source said.

“This will be the largest single art loss to the market,” said Filippo Guerrini-Maraldi, head of fine art at insurance broker RK Harrison.

Catlin declined to comment.

Axa, the world’s biggest art insurer, expects to pay out $40 million, art claims director Colin Quinn said, and brokers and underwriters say the total loss could reach $500 million.

That would wipe out virtually a full year’s revenues for the art insurance industry, forcing it to push up its prices.

“Some underwriters will lose appetite for writing fine art business after Sandy, the global capacity for fine art business will shrink, and as a result rates will go up,” Guerrini-Maraldi said.

Galleries and art warehouses affected by Sandy could be forced to pay up to 25 percent more for insurance, and insurers could refuse to cover premises in low-lying areas of Manhattan against floods, one underwriter said, asking not to be named.

Under Water

Sandy, which killed 132 people as it swept through the north-eastern United States on Oct. 29, caused flooding in the Chelsea district of Manhattan, where many New York art galleries are located. Art warehouses in New Jersey were also affected, insurers and brokers say.

Sandy is expected to cost the insurance industry a total of $25 billion, making it the second costliest storm after Hurricane Katrina in 2005.

Art insurers have previously expressed concern that popular art storage warehouses accumulate too much costly artwork in a single location, exposing them to big losses if the facilities flood or catch fire.

The art insurance industry, led by Axa and Bermuda-based Hiscox, takes in between $500 million and $600 million a year in premiums.

Art insurance prices have been falling for several years, reflecting stiff competition and a generally low level of claims.

Payouts worth a combined $500 million would dwarf previous big art losses, which include a 20 million pound ($33 million) hit from a 2004 warehouse fire in east London that destroyed work by British artists Damien Hirst and Tracey Emin.

In 2006, U.S. casino owner Steve Wynn put his elbow through a Picasso he owned, resulting in a claim of about $40 million.

Art insurance payouts are sometimes lower than the initial claim because of adjustments to reflect the market value of the artwork.

Copyright 2012 Reuters. Click for restrictions.Email ThisPrintNewslettersTweetCategories: National NewsTopics: AP / Reuters, art insurance, Catastrophe, Claims, Commercial Lines, fine art insurance, Superstorm SandyHave a hot lead? Email us at newsdesk

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Regions Insurance Acquires Argyle Benefits Consultants in Tennessee

December 21, 2012Email ThisPrintNewslettersTweetArticleComments

Regions Insurance, a subsidiary of Birmingham, Alabama-based Regions Financial Corp., is expanding its employee benefits practice in Memphis, Tennessee, with the acquisition of Argyle Benefits Consultants LLC.

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S&P Rates Aon plc. Note Exchanges ‘BBB+’; Outlook Stable

Featured Stories Video: AIG's Spackman on Economic InstabilityBlog: Burand's E&O Tip #17 NewsMarketsJobs Front Page National International Most Popular Magazine Forums Blogs Videos/Podcasts Newsletters News Most Popular National International East Midwest South Central Southeast West Topics P&C Companies Agents & Brokers Government Markets/Coverages Operations Claims More Topics Magazines East Midwest South Central Southeast West Subscribe Directories Jobs SalesMarketingManagementFinanceClaimsUnderwritingOther Features Events Forums Buyers Guide Insurance Twitter Market Directories Ad Showcase Quotes Polls Subscribe S&P Rates Aon plc. Note Exchanges ‘BBB

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West Virginia Explosion Reminder of Risk of Natural Gas Pipelines

December 14, 2012Email ThisPrintNewslettersTweetArticle2 Comments

Nearly 15,000 miles of natural gas pipeline stretch across West Virginia, and as residents of this community north of Charleston now know, devastating explosions can happen without warning.

Federal regulators say there have been 20 “significant” pipeline incidents involving deaths, injuries or major property damage in West Virginia in the last decade. The latest came Tuesday when a 20-inch Columbia Gas transmission line exploded, destroying four homes and cooking a section of Interstate 77, a major north-south commuting corridor that passes through the capital city.

By Wednesday, hard-working road crews had the highway repaved. The northbound lanes reopened early in the morning, and traffic began flowing on the southbound lanes a few hours later.

Meanwhile, investigations into what caused the massive blast in a 20-inch Columbia Gas Transmission line are under way. Teams with the parent company, Indiana-based NiSource, are working alongside investigators, and the company says it is cooperating fully.

After the investigation is finished, NiSource said, it will “take any follow-up actions necessary to ensure the continued safe operation of our system.”

The pipeline is part of a network that primarily serves local utilities but also delivers gas to Georgia. NiSource says the explosion affected one specific location “and does not affect the safety or operation of any pipelines outside of that immediate area.”

The damage from the blast and the inferno it sparked were breathtaking. Four homes burned and collapsed. Five others were damaged. On the highway, the heat burned utility poles and melted guardrails and pavement.

With many people at work or school at the time, no one died. But at least one motorist was still shaky long after the fire was out.

Sancha Adkins, a respiratory therapist from St. Albans, was heading north on I-77 toward a patient’s home in Ripley when a flash alongside the highway caught her eye. She slammed on the brakes and pulled to the shoulder, as did the tractor-trailer behind her, just in time to see a wall of flame roar across the road about 150 feet ahead of her.

She tried to back up, but the truck behind her wasn’t doing the same fast enough.

“I did a U-turn in the middle of the road and literally drove the wrong way on the interstate. I had my hazard lights on flashing, just trying to tell people to get out of the way,” she said.

There was oncoming traffic as she hugged the berm on the median.

“I didn’t care,” she said. “It wasn’t as bad as that explosion.”

Experts consider pipelines a safer way to move gas than rail, truck or barge, but gaps remain in regulatory oversight.

In January, President Barack Obama signed a law aimed at improving such oversight. The measure increased penalties for violations, required automatic shut-off valves on new pipelines and improved public access to safety information.

An advisory committee from the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) is meeting this week near Washington, D.C., to discuss the law’s implementation.

The law was partly based on a bill co-sponsored by U.S. Sen. Jay Rockefeller, the West Virginia Democrat who chairs the Senate Commerce Committee.

“Paramount to the success of America’s pipeline system,” he said a year ago this month, “is an unwavering commitment to safety.”

According to PHMSA, there are more than 2.6 million miles of pipeline crisscrossing the United States, of which 304,725 are natural gas transmission lines.

The network includes “gathering” lines that transport natural gas from well sites to compressor stations and other processing facilities, the 20- to 42-inch transmission lines that carry gas long distances, and distribution lines as small as 2 inches that carry gas into homes and businesses.

“No question about it, it’s by far the safest mode of transportation compared to anything and pretty much any way you want to measure it,” said Paul Oleksa, who runs a pipeline safety consulting company in Akron, Ohio.

In March, The Charleston Gazette reported, the U.S. Government Accountability Office warned that many gathering lines escape federal scrutiny and noted a “long-term pattern of understaffing” for pipeline safety at the U.S. Department of Transportation.

Remote locations contribute to the lack of scrutiny, the report said. In some cases, only about 10 percent of the lines are actually regulated.

From 2007 through 2011, pipeline accidents nationwide killed 21 workers and 47 other people, resulting in nearly $2.6 billion in property damage, according to PHMSA.

“I would say they’re very rare,” Oleksa said. “On the other hand, they are spectacular and the public has a fear of natural gas. So when something happens, it becomes big news and everybody is aware of it.”

In 2010 and 2011, a total of 13 people died when gas lines exploded in San Bruno, Calif., and Allentown, Pa.

Last month, more than 40 buildings, including a strip club and a day care center, were damaged in a natural gas explosion in western Massachusetts that injured 18 people, while two people were killed and several homes were destroyed in an explosion in Indianapolis that is being investigated as a homicide.

Pipeline operators are required to submit incident reports within 30 days of an occurrence.

“While many stakeholders agree that federal pipeline safety programs have been on the right track,” the Congressional Research Service said earlier this year, “the spate of recent pipeline incidents suggests there continues to be significant room for improvement. ”

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Southeast NewsTopics: Columbia Gas transmission line explosiond, natural gas pipeline, PHMSA, Pipeline and Hazardous Materials Safety Administration, West Virginia natural gas explosion, West Virginia pipelineHave a hot lead? Email us at newsdesk

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Former Massey Mine Executive to Enter Plea Next Month

December 14, 2012Email ThisPrintNewslettersTweetArticleComments

A former president of Massey Energy’s White Buck Coal Co. will enter a plea on federal conspiracy charges in January as prosecutors continue to investigate the 2010 explosion at another Massey operation that killed 29 men.

David C. Hughart is set to appear Jan. 16 before U.S. District Judge Irene Berger in Beckley.

Hughart is cooperating in the continuing investigation of the Upper Big Branch mine disaster in Montcoal. The explosion at that Massey mine, now sealed but owned by Virginia-based Alpha Natural Resources, was the worst U.S. coal mine disaster in four decades.

Prosecutors say Hughart worked with unnamed co-conspirators to ensure miners at White Buck and other, unidentified Massey-owned operations, got advance warning about surprise federal inspections many times between 2000 and March 2010.

They say that gave workers time to conceal life-threatening violations that could have led to citations and shutdowns.

Hughart faces two charges: felony conspiracy to defraud the government by impeding the Mine Safety and Health Administration, and misdemeanor conspiracy to violate mandatory health and safety standards. He faces as long as six years behind bars.

Hughart’s cooperation is a sign that authorities may be gathering evidence to target officials further up the Massey hierarchy. Some victims’ families hold former CEO Don Blankenship personally responsible, though prosecutors have declined to say who else could face charges in the wide-ranging and continuing probe.

Although Upper Big Branch is never directly mentioned in the case against Hughart, U.S. Attorney Booth Goodwin has said the charges stem from that investigation. The nature of the allegations also parallel charges brought against those who were directly involved with UBB.

Hughart is the third person to face serious criminal charges in connection with Upper Big Branch.

Former superintendent Gary May is also cooperating with prosecutors. He was scheduled to be sentenced Jan. 17, but last week, Goodwin filed a motion to delay that.

May continues to provide important cooperation in the criminal probe, Goodwin said, adding that notable progress has already been made. Delaying his sentencing “will allow that progress to be extended and will avoid any risk to the investigation from the sentencing proceeding itself,” he said.

Former Massey security chief Hughie Elbert Stover, meanwhile, is appealing his conviction last fall on charges he lied to investigators and ordered a subordinate to destroy documents.

He was sentenced to three years behind bars

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AAIS, IDentity 911 Release Sample Data Breach Endorsement

coverage to small- and mid-sized commercial accounts.

The American Association of Insurance Services (AAIS) has released the sample endorsement under its business owners program (BOP). AAIS is a national insurance advisory organization that develops policy forms and rating information used by more than 700 property/casualty insurers.

The endorsement was developed in conjunction with IDentity Theft 911 (IDT911), a provider of identity and data risk management, resolution, and education services. More than half of U.S. property/casualty carriers, including several member companies of AAIS, use IDT911 for identity theft loss control and recovery services.

The endorsement, which incorporates language proposed by IDT911, covers certain services provided to a commercial account in the event that personal information in its possession is lost, stolen, accidentally released, or accidentally published. Covered expenses include:

Expert consultations;Forensic investigations;Legal and regulatory research;Notification to persons whose data may have been breached; andCredit and fraud monitoring for victims of identity theft.

Coverage under the endorsement is subject to an each-event deductible and an annual aggregate limit, plus separate sublimits for forensic investigations and legal/regulatory research expenses.

Coverage extends only to the types of losses identified in the endorsement. Non-described costs are explicitly excluded, as are costs arising from reckless disregard for information security, costs to identify or correct deficiencies in systems or procedures, and other types of expenses.

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UMass Amherst Scientists Forecast Warmer, Wetter Northeast Winters

December 14, 2012Email ThisPrintNewslettersTweetArticleComments

A new high-resolution climate study by University of Massachusetts Amherst climate scientists — the first to apply regional climate models to examine likely near-term changes in temperature and precipitation across the U.S. Northeast — suggests temperatures are going to be significantly warmer in all seasons in the next 30 years, especially in winter.

Also, they project that winters will be wetter, with more rain likely than snow.

Writing in the current issue of the Journal of Geophysical Research, Michael Rawlins and Raymond Bradley of the Climate System Research Center at UMass Amherst, with Henry Diaz of the National Oceanic and Atmospheric Administration(NOAA), provide the highest resolution climate projections to date for the Northeast from Pennsylvania to Maine.

Winter Contracting, Snow Season Expected to Be Shorter

The study used data from multiple climate model simulations run at greatly improved resolution.

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Illinois Judge Rejects Bid to Revive Cigarette Lawsuit

December 14, 2012Email ThisPrintNewslettersTweetArticleComments

An Illinois judge has refused to reopen a class-action lawsuit that produced a $10.1 billion verdict against cigarette-maker Philip Morris, handing the plaintiffs their latest setback in legal action now more than a decade old.

It was not immediately clear whether Stephen Tillery, the St. Louis attorney who pursued the lawsuit involving so-called

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Best Affirms Zurich Insurance and Group ‘A+’ Ratings; Outlook Stable

of Swiss-based Zurich Insurance Company Limited (ZIC)), the main operating company of Zurich Insurance Group Ltd.

Best also assigned ratings and affirmed the existing ratings of the debt instruments issued or guaranteed by ZIC, as well as the ICR of

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Audit: Louisiana Restaurant Inspections Don’t Ensure Food Safety

November 28, 2012Email ThisPrintNewslettersTweetArticleComments

Louisiana’s regulators of food safety fail to ensure restaurants and other retail food establishments are complying with health standards and allow violators of safety requirements to continue operations, according to a new audit released Nov. 26.

The Office of Public Health issued permits to restaurants that didn’t correct past violations, rarely assesses penalties to violators of safety regulations and doesn’t meet its own inspection standards, the review by Legislative Auditor Daryl Purpera’s office says.

Of nearly 450,000 violations over three years reviewed by auditors, the Office of Public Health levied penalties on two establishments and didn’t collect any of the $1,300 in penalties assessed.

The agency also doesn’t have standardized criteria for determining when fines should be issued and hasn’t routinely hit repeat violators with penalties or other consequences, according to the audit.

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Milward Named VP Business Development for Council of Agents & Brokers

Featured Stories Podcast: Agent Battles Sandy from HomeVideo: Company Secrets Revealed NewsMarketsJobs Front Page National International Most Popular Magazine Forums Blogs Videos/Podcasts Newsletters News Most Popular National International East Midwest South Central Southeast West Topics P&C Companies Agents & Brokers Government Markets/Coverages Operations Claims More Topics Magazines East Midwest South Central Southeast West Subscribe Directories Jobs SalesMarketingManagementFinanceClaimsUnderwritingOther Features Events Forums Buyers Guide Insurance Twitter Market Directories Ad Showcase Quotes Polls Subscribe Milward Named VP Business Development for Council of Agents & BrokersNovember 8, 2012Email ThisPrintNewslettersTweetArticleComments

Webb Milward has returned to The Council of Insurance Agents & Brokers as vice president of business development. Milward, who previously directed The Council’s political action committee from 2005-2010, spent the last two years working as associate director of capital giving and special gifts in the Boston College Athletics Department. He served two years as a legislative aide to Sen. Mitch McConnell, R-Ky., before joining The Council.

Milward is a native of Lexington, Kentucky where his family operates an insurance firm, Powell-Walton-Milward, a division of J. Smith Lanier.

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Marsh & McLennan Agency Acquires Protector Group in Massachusetts

Featured Stories Podcast: Agent Battles Sandy from HomeVideo: Company Secrets Revealed NewsMarketsJobs Front Page National International Most Popular Magazine Forums Blogs Videos/Podcasts Newsletters News Most Popular National International East Midwest South Central Southeast West Topics P&C Companies Agents & Brokers Government Markets/Coverages Operations Claims More Topics Magazines East Midwest South Central Southeast West Subscribe Directories Jobs SalesMarketingManagementFinanceClaimsUnderwritingOther Features Events Forums Buyers Guide Insurance Twitter Market Directories Ad Showcase Quotes Polls Subscribe Marsh & McLennan Agency Acquires Protector Group in MassachusettsNovember 8, 2012Email ThisPrintNewslettersTweetArticleComments

Marsh & McLennan Agency LLC, a subsidiary of insurance broker Marsh Inc., acquired Worcester, Massachusetts-based The Protector Group Insurance Agency, one of the largest independent agencies in New England. Terms of the transaction were not disclosed.

Founded in 1928, Protector Group offers a wide range of property/casualty insurance, employee benefits services, personal insurance, and individual financial services to midsize companies and individuals in New England. The agency generates approximately $13.6 million in annual revenues and has 84 employees operating out of three offices in Massachusetts: Worcester, Leominster, and Wellesley.

Protector Group will operate out of Marsh & McLennan Agency’s New England hub, further expanding the region’s employee benefit capabilities and adding new property/casualty insurance resources.

All of the agency’s leadership and employees — including founder and CEO Bob Vaudreuil and Executive Vice President Jack Cahill — will join Marsh & McLennan Agency and continue to operate out of Protector Group’s existing offices.

The addition of Protector Group doubles the size of Marsh & McLennan Agency’s regional presence in New England and further enhances its ability to offer property/casualty and employee benefit capabilities to clients, said Jim Blue, CEO of Marsh & McLennan Agency’s New England region.

Protector Group is the 24th acquisition Marsh & McLennan Agency has completed since it began to build its national platform in November 2009. Marsh & McLennan Agency currently generates approximately $410 million in annualized revenue.

Email ThisPrintNewslettersTweetCategories: East NewsTopics: Business Moves & Mergers, Marsh & McLennan Agency, The Protector Group Insurance AgencyHave a hot lead? Email us at newsdesk

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Torus Adds Media Liability, Financial Institution Coverages

November 9, 2012Email ThisPrintNewslettersTweetArticleComments

Torus has expanded its U.S. management liability and professional lines practice with the addition of two new specialty insurance products: media liability coverage for the media & entertainment segment; and financial institution bonds offering for the financial institution customer segment.

Torus has also appointed four new executives to its U.S. team. They include:

Sharon Raksnis, senior vice president, head of Financial Institutions;Craig Grant, vice president, head of Private Company Management Liability;Christopher Cooper, assistant vice president, Media Liability Practice Leader; &Christine Cook, assistant vice president senior underwriter, Private Company Management Liability.

Torus has also added commercial E&O coverage to ESCAPE, Torus’ online portal for US brokers aimed at streamlining the quote-to-bind-to-issue process. With these enhancements, ESCAPE is now available for 75 E&O classes and enables producers to quote and bind multiple coverages under a single premium. ESCAPE was first launched by Torus in 2010 for brokers selling umbrella and high excess liability policies to small businesses.

Torus has expanded its professional liability product portfolio. Effective immediately Torus will underwrite financial institution bonds (

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MMIC Promotes Lacke to Senior VP, Insurance Operations

October 19, 2012Email ThisPrintNewslettersTweetArticleComments

Midwest-based medical professional liability insurer, MMIC, has promoted Steve Lacke to senior vice president, Insurance Operations.

Lacke joined MMIC as its vice president and chief actuary in 2009. In his new role, he is responsible for the company’s underwriting and IT functions in addition to his actuarial role.

Lacke has more than 20 years of actuarial experience and has a strong background in pricing, reserving, reinsurance and strategic planning. He is a Fellow of the Casualty Actuarial Society, a Member of the American Academy of Actuaries and earned an MBA from the University of Minnesota.

MMIC Group Inc. provides professional liability insurance and risk solutions to physicians, clinics, hospitals and long-term care facilities and systems, primarily in Minnesota, Indiana, Iowa, Nebraska, Kansas, Missouri, North Dakota, South Dakota and Wisconsin.

Source: MMIC

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Survey: New Orleans Attracting More Tourists, Spending

October 12, 2012Email ThisPrintNewslettersTweetArticleComments

A new survey finds New Orleans hosted 4.9 million visitors in the first half of 2012, a 2 percent increase over the same period in 2011, with spending increasing 11 percent to $3.45 billion

The Advocate reports the survey was conducted by the University of New Orleans Hospitality Research Center.

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Prosecutors Gone Wild: The Case of Kevin Ring

In the movie Malice, Jack Donaghy is asked during a deposition (by Sandy Cohen) if he has a “God Complex” and delivers a classic meltdown explaining, “I

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How Law Nerds Will Get Laid on Valentine’s Day

How Law Nerds Will Get Laid on Valentine’s Day « Above the Law: A Legal Web Site – News, Commentary, and Opinions on Law Firms, Lawyers, Law School, Law Suits, Judges and Courts .wp-polls .pollbar

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Associate Bonus Watch: Irell & Manella Beats the Market

Earlier this month, the top-flight California firm of Irell & Manella announced associate bonuses. Historically Irell has paid well above market. Last year, for example, Irell paid double the going rate (as set by Cravath and the other major New York firms).

So what did Irell do this time around?

Once again, it beat the market — although by less than it has in years past. Last year, for example, Irell paid double Cravath. This year, with Cravath paying more, Irell fell slightly short of paying twice Cravath.

Although there was no memo this time, here’s what we understand to be the approximate bonus scale for Irell associates who hit 2000 hours, with the Cravath/NYC market amount noted parenthetically:

Class of 2011: $17,500 (market: $10,000)
Class of 2010: ?
Class of 2009: $35,000 (market: $20,000)
Class of 2008: $47,000 (market: $27,000)
Class of 2007: $60,000 (market: $34,000)

Note that these amounts are approximate. If you have corrections or additional class years, please email us or text us (646-820-8477), and we’ll update accordingly.

UPDATE (4:15 PM): The class of 2010 bonus was $24,000 (market: $14,000).

How did Irell associates receive the news? Reactions were mixed. Many were pleased:

“Irell & Manella killed market last week — gave us Cravath plus a ‘good year’ bonus.”

“Irell, once again, crushed and nearly doubled Cravath bonuses.”

But there were dissenting voices:

“Good, but firm had its best year ever and total comp was down from 2011.”

That’s because, in 2011, Irell paid mid-year bonuses as well as year-end bonuses.

Even if they might not measure up to 2011 standards, the Irell bonuses for 2012 are still plenty generous. Congratulations to the Irell associates on their bonus bounty.

Earlier: Associate Bonus Watch: Irell Whacks Cravath, Again

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Gradenfreude: The Legal Profession Has the Luck of the Irish

With the Notre Dame Fighting Irish’s attempt to win their first national championship in a quarter of a century, and at the same time, their attempt to end the Southeastern Conference’s years of dominance of the BCS, I am hoping that this return to glory by a once storied franchise will be accompanied by a return to glory for the storied legal profession.

When I was growing up, most thought of lawyers as highly educated, intelligent, and self-motivated (even to a fault) professionals. Many considered lawyers to be part of the upper echelon of society, and most people also believed that simply being a lawyer would result in a huge, guaranteed payday. And for most of college football history, the Fighting Irish received similarly high praise.

In recent years, however, both the legal profession and the Irish have been held up to strong criticism, and were unable to enjoy the same success people became accustomed to. Even while I was still in law school at my TTT, respected attorneys told me not to worry about the school I was attending, because by the time that I got to my second or third job, no one would care anymore. The little detail that everyone left out was just how much it would matter for that first job — because it’s rough to get to the second or third job when you can’t even find your first, no matter how hard you try.

Going along with the Fighting Irish’s return to the top, here’s a look at a few other things that were once closely associated with the legal profession that are no longer true, but would be welcomed back with open arms….

A return to the days were law schools didn’t have to lie to make the end game seem better than it actually was.

We all went to school thinking that if 75 percent or more of the prior class got jobs within nine months of graduation — with average salaries of over $50,000 — then we’d wind up with legal jobs where the salary would be over $50,000. No such luck, thanks to those supposedly skewed statistics. Right along with this, of course, is the return to the day where jobs were plentiful and actually worth the years of time and money spent in law school, as opposed to only 55 percent (a failing mark at any stage of education) being able to find an employment opportunity of any kind in the legal profession.

An end to the immoral practice of misrepresenting facts to young adults who will subsequently be taught not to misrepresent facts when dealing with clients.

Besides the obvious irony of this situation, it also hurts the job market, the economy, and law school costs. These tactics have helped oversaturate the job market, and in turn, created a massive law school loan bubble. (And not for nothing, but some of those loans should never have been given out, and will likely never be repaid.) The economy is hurt because the cost of attending law school keeps rising, increasing the size of the debt bubble. As long as students continue to think that there may actually be jobs out there for them, they’ll keep shelling out the dough in the hope of their future success.

A return to the quality of law students of yesteryear.

While I was in school, numerous people informed me that the main reason they decided to attend law school was their inability to find a job that was even remotely in the field of their undergraduate degree. Many of them had never even thought about the idea of becoming an attorney until the Great Recession. While at a time, this may not have been a completely terrible reason to attend, this

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Morning Docket: 01.03.13

Dewey know how much money this failed firm has run up on its tab for legal advisers since May? It’s quite the pretty penny — $14.8 million — and that amount actually includes some pretty ridiculous fees and charges, like $21,843 for photocopies.

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Non-Sequiturs: 01.03.13

I didn’t make this list of the 25 most influential people in legal education. That pisses me off. I’m going to start writing about how people shouldn’t trust legal educators because law schools are only interested in profits and not the employment outcomes of their students. That’ll show ‘em!

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Thursday, February 14, 2013

Insurers Not Seeing Large Number of Claims From Snowstorm So Far

February 13, 2013Email ThisPrintNewslettersTweetArticleComments

A fierce winter storm brought deep snow and high gusting winds to the Northeast last weekend, but a number of insurers are saying that so far, they are not seeing a large number of claims.

State Farm said Tuesday the company has yet not seen a large number of claims to-date from the weekend storm. “Our claims department is reporting less than 100 and they are being handled through our regular claims processing procedures,” State Farm spokesperson Arlene Lester told Insurance Journal.

Meanwhile, Arbella Insurance Group, a Quincy, Mass.-based carrier providing personal and business insurance in the New England region, said the company does not expect last weekend’s snowstorm to reach the same level of impact as the other extreme weather events that occurred in New England in 2011 and 2012.

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California Commissioner Fingers Insurers for Iran Investments

February 13, 2013Email ThisPrintNewslettersTweetArticleComments

California Insurance Commissioner Dave Jones on Wednesday singled out eight insurers licensed to do business in the state who continue to have investments tied to Iran’s energy, military and nuclear sectors.

During a press conference in Los Angeles Jones called out the insurers for not divesting their holdings in multinational companies doing business in Iran under the Department of Insurance’s Iran Divestment Program launched in 2009 by then Insurance Commissioner Steve Poizner.

In tying the insurers, all but one of which are life insurance companies, to Iranian investments, Jones noted that the nation itself has been tied with terrorism and he referred to Iran’s efforts to become a nuclear nation.

Around the same time that Jones was making his remarks it was being reported that Iran had started installing a new generation of machines for enriching uranium, a move countries like the U.S. fear is an effort to speed up Iran’s alleged efforts to create a nuclear weapon despite Iran’s stated intent that its goal is to generate nuclear power and not weapons of mass destruction.

Jones stood with several members of Los Angeles’ Jewish community when he made the announcement, and he also used the occasion to praise the program’s results over the last four years.

From the roughly 1,300 insurers doing business in California the total amount of investments in companies doing business in the Iranian military, energy and nuclear sectors was roughly $6 billion at the beginning of the program. Currently insurer investments in companies doing business with the Iranian energy, military, and nuclear sectors total just under $200 million, a 97 percent reduction, according to Jones.

And the list of insurers declining to divest has been reduced to eight.

Those eight insurance companies are: State Farm Mutual Automobile Insurance Co., Connecticut General Life Insurance Co., ING USA Annuity and Life Insurance Co., The Ohio National Life Insurance Co., Ohio National Life Assurance Corp., Life Insurance Company of North America, National Guardian Life Insurance Co., Assurity Life Insurance Co.

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Article: Multi-Function Printer Buying Tips.What's an MFP, and Which One’s Best for You? Updated for Holidays 2012

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What's an MFP, and Which One’s Best for You? Updated for Holidays 2012

By Karen Marcus

November 13, 2012

Looking to make your home office more efficient? Consider a multifunction center (MFC) printer, also known as a multi-device or all-in-one printer. These machines combine standard printer functionality with the ability to fax, scan, and copy—all within one manageable footprint.

With an Multi-Function printer (also known as an All-In-One printer), you can reclaim your desk space and stop making trips to the office center just to scan a photo or send a fax. More functions mean more choices. But, once you determine your primary needs, the selection process becomes easier.

Pick a Task, Any Task

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Article: What is the Best Portable DVD Player for You?.The perfect pacifier for long road trips and short budgets. Updated for Holidays 2012

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Article: 12 Top Camera Bags for Travelers.Buying Guide: Different destinations, different bags

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Buying Guide: Different destinations, different bags

By Mason Resnick

November 14, 2012

So, you’re getting ready to take a big trip, and want to bring your camera gear. What should you put it all in? It depends!

How much camera gear to bring with you on whatever journey you are taking is an important issue—but what do you put it in?

The answer to that question depends on the answers to several other questions: Are you flying? Hiking? Walking through a crowded city where there might be pickpockets? Are you an aspiring photojournalist? Want to blend in and work inconspicuously? There are different bags for different kinds of journeys and destinations.

In general, don’t buy too much bag, but get one that will accommodate a little more than what you have. This will give you more options as you expand your system, or can provide room for non-photographic doo-dads like snacks, a change of clothes, etc.

Also read: 12 Camera Bag Essentials at the Adorama Learning Center.

Here are several bags that are extremely well-suited for different modes of travel, all available at the Camera and Gear Cases department at Adorama. Keep in mind that the prices and availability of the bags listed below are accurate as of November 14, 2012.

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Article: Why a Graphics Tablet Will Take Your Digital Photos To The Next Level.For photographers, the pen is mightier than the mouse. Updated for Holidays 2012

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Article: Keep Shooting In The Cold with These Gloves Designed for Photographers.Operate touchscreen devices and cameras without taking your gloves off. Updated for Holidays 2012

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Article: GigaPan Epic Pro: Hands-On Overview:.Hands-On Overview: Adorama Photography TV

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Hands-On Overview: Adorama Photography TV

By Richard Harrington

November 21, 2012

Adorama Photography TV presents the GigaPan Epic Pro Robotic Panohead. This pro-level kit is designed to help create fantastic multi-pixel panoramic images for print or web interactivity.

Remember that amazing photo of President Obama's inaguration, photographed by David Bergman, where you could zoom in on almost anyone in the crowd? Here's how it was done! Join Rich as he takes you step-by-step through the GigaPan set-up and then shows you how to manage the menu control system. Be sure to catch Rich in the upcoming GigaPan episode where he will reveal how to stitch your new photos together with the GigaPan Stitch software to create incredible panoramic images.

This product is perfect for making very detailed, zoom-able images that can be posted on social media websites or on personal blogs.

Article: Sigma DP-1 Merrill, 46MB Sensor Compact Digital Camera: Product Review.Posh Compact Takes You Back To The Future

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Article: The secret to enhancing your photos by adding a texture layer in Photoshop.Take & Make Great Photography

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Article: 5 Tripod Mounts for the iPhone 5.These iPhonogoraphy-Friendly Gadgets Will Help You Capture a Sharper Image

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These iPhonogoraphy-Friendly Gadgets Will Help You Capture a Sharper Image

By Malachy Sherlock

January 4, 2013

Creating sharp images with the iPhone 5 depends to a large extent on how stable you can hold the phone. There are times when mounting the iPhone to a tripod is really the best option.

The light is low, but in front of you is a fantasic scene that you want to capture on your iPhone 5. The problem? A hand-held photo is bound to be blurry, even with the iPhone's built-in image stabilization. If you had a stand-alone compact camera and a tripod, you would simply place the camera on a tripod by attatching it via its built-in tripod mount. iPhones (and, in fact, almost all Smart Phones) lack this feature. Fortunately, there are plenty of choices that cost from $7 to $70 which will let you connect to a small tripod, monopod, or creative grip.

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Article: Put Sound and DSLR Video Together Easily in Adobe Premier Pro.DSLR | Video Skills with Rich Harrington: Adorama Photography TV

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News: Nikon Updates Enthusiast DSLR, Expands Nikon 1 System, Adds New Fashion Compact Digital Camera.PMA@CES News

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Article: Now You Can Capture Artistic Multiple Exposure Photos With Canon DSLRs.You Keep Shooting with Bryan Peterson: AdoramaTV

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News: New Olympus Lineup Includes Three Waterproof Compact Digital Cameras.PMA@CES

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Article: The Secret To Shooting Natural-Looking HDR Photos Using 32-Bit HDR.Take & Make Great Photography with Gavin Hoey: Adorama Photography TV

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Article: Tame Hard Sunlight for Flattering Outdoor Location Portrait Photography.Photo On The Go with Joe McNally

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Article: Shoot Low With A Wide-Angle Lens To Transform Your Landscape Photography.You Keep Shooting: AdoramaTV

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Non-Sequiturs: 01.25.13

I asked Professor Rick Hasen whether or not I should self immolate to prevent the GOP from legally rigging the next election, and he’s telling me to chill out because it’s gonna be okay.

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Time For Our Semiannual Reminder To Law Professors to SUBMIT YOUR GRADES ALREADY

We talk about this twice a year. Sorry, I should say we are forced to talk about this twice a year. Every year. Because every semester, there are law professors out there who refuse to submit grades in a timely fashion.

I don’t know why. Professors have to work like nine or 12 hours a week, maybe eight months a year, and write a final exam and grade it. That’s what the students are paying them for. The rest, the research, scholarship, whatever glad handing they do on their path to tenure, is something they can do on their own time. On the student’s dime, they have to lecture, write exams, and grade them.

WHY DO SO MANY OF THEM FAIL TO DO THIS?

I don’t know the answer to that question. I may never know. Last semester, Columbia Law School threatened to fine professors who handed in late grades.

Columbia’s plan seems to be working, so maybe other New York area schools should give it a try….

Today’s adventure in late grading is brought to you by Fordham School of Law. Spring semester has already started there, but there are still students waiting for their fall semester grades. A tipster explains:

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Quote of the Day: Watch Out for Batted Balls Wieners

he risk of being hit in the face by a hot dog is not a well-known incidental risk of attending a baseball game.

– Presiding Judge Thomas H. Newton of the Missouri Court of Appeals (Western District), writing for the majority, and noting that a fan cannot be said to have assumed the risk of injury via flying hot dog by attending a baseball game.

(For some background information, in 2009, Kansas City Royals fan John Coomer’s retina was torn and detached after he was hit in the face with a foil-wrapped hot dog that was thrown by the team mascot.)

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Non-Sequiturs: 01.17.13

I think this is a very poor reading of the history of the Second Amendment that is making the rounds. Sure, having weapons really helped slaveholders, but that’s not “the reason” the Second Amendment was ratified. The founders had better reasons… reasons that have nothing at all to do with the time we live in, but that’s a different story.

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Morning Docket: 01.18.13

I’m the 800-pound-gorilla that you want to settle with.” By the way, if you weren’t sure, Howrey’s trustee Allan Diamond wasn’t kidding about suing the firm’s former partners. “Either we’re going to cut deals, or I’m suing you.”

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Study Says South Dakota Agriculture Has $21B Impact

January 25, 2013Email ThisPrintNewslettersTweetArticleComments

An associate professor at South Dakota State University says agriculture and related industries had a $21.4 billion impact on South Dakota’s economy in 2010.

Gary Taylor, an associate professor of economics, says the impact includes more than $8.3 billion in direct agricultural production, $3.4 billion in inputs supplied by businesses and nearly $1.7 billion from increased household spending.

Agricultural processing and manufacturing added more than $8 billion in economic activity.

Taylor says agriculture’s total $21.4 billion economic impact makes agriculture the largest single sector in South Dakota’s economy. He says agriculture makes up about 19.8 percent of the state economy’s total output.

Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Email ThisPrintNewslettersTweetCategories: Midwest NewsTopics: $21.4 billion impact, agriculture and related industries, South Dakota State UniversityHave a hot lead? Email us at newsdesk

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Former Idaho Probation Employee Alleges Gender Bias In Lawsuit

January 25, 2013Email ThisPrintNewslettersTweetArticle1 Comments

A former Idaho probation and parole employee is accusing her administrators of gender discrimination and creating a hostile work environment and emotional distress after her brief relationship with a co-worker turned violent.

The lawsuit filed in U.S. District Court on Tuesday by Cynthia Fuller, a 43-year-old single mother of two, names Department of Corrections Director Brent Reinke and Henry Atencio, chief deputy of probation and parole.

Fuller, who lives in Nampa, began working for IDOC in 2004, but she quit in November 2011, months after her relationship with probation and parole officer Herbt Cruz ended amid her allegations of sexual assault.

In her civil lawsuit, Fuller said she was beaten and raped by Cruz on Aug. 30, 2011, the day she tried ending their romantic relationship. She reported the episode to Canyon County Sheriff’s detectives days later and obtained a restraining order against Cruz.

No criminal charges have been filed against Cruz, who has an unlisted telephone number and could not immediately be reached for comment Wednesday by The Associated Press. Cruz also resigned from IDOC last January, citing personal reasons, an agency spokesman said.

IDOC officials have not yet seen the lawsuit.

Fuller’s lawsuit focuses on how IDOC administrators and her immediate supervisors responded and managed the Caldwell probation and parole office and its staff in the weeks after she claims she was assaulted.

For example, Fuller alleges she was denied a paid leave of absence after the encounter with Cruz, despite initially being told she qualified under department policy, according to the lawsuit. Instead, Fuller, seeking time away from the office to recover and seek psychological counseling, used vacation and sick time before returning to work due to financial pressure _ against the advice of her physician and counselor.

Meanwhile, the lawsuit criticizes the agency for granting paid administrative leave for Cruz, who was disciplined Aug. 15 after his supervisors learned he was the subject of a separate criminal investigation.

Then in November, after Fuller returned to work, supervisors denied her request to inform staff that Cruz was supposed to avoid entering the building because he was specifically under a restraining order.

Fuller told her boss she was fearful of Cruz and that his veteran status and relationship with colleagues would ensure him easy access to the building and her office, located just inside the main entrance.

An administrator agreed to notify staff that Cruz was prohibited from the office, but not because he was the subject of a restraining order involving another employee.

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