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Today’s Insurance News
Source: Insurance Journal
Vermont Regulators: Updated Law Offers ‘Welcome Option’ for Inactive Captives
Young Ha - April 23, 2014, 7:50 am

Vermont’s updated captive insurance law now offers inactive captives in the state a chance to apply for a “dormant” status. Vermont regulators said this latest modification reflects the state’s ongoing effort to introduce new prudent legislation for the captive industry. …

The article Vermont Regulators: Updated Law Offers ‘Welcome Option’ for Inactive Captives appeared first on Insurance Journal.

6 N.J. Residents Charged in Staged Auto Accident Scheme
- April 23, 2014, 7:43 am

New Jersey authorities say six Passaic County, N.J., residents played roles in a staged-automobile accident scheme that defrauded two insurance companies out of more than $78,000. Acting state Attorney General John Hoffman announced the charges Monday. He said five of …

The article 6 N.J. Residents Charged in Staged Auto Accident Scheme appeared first on Insurance Journal.

Report: Superstorm Sandy’s Fallout Tough on Small Businesses
- April 23, 2014, 7:42 am

When suburban New York delicatessen owner P.J. Whelan heard the findings of a Federal Reserve Bank of New York poll released Monday on Superstorm Sandy’s effect on small businesses, he began nodding in agreement. “They got those numbers right,” the …

The article Report: Superstorm Sandy’s Fallout Tough on Small Businesses appeared first on Insurance Journal.

Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay
Young Ha - April 23, 2014, 7:40 am

A newly published study from Rutgers University in New Jersey shows that most state residents strongly support government programs aimed at lowering the likelihood of severe damage from future hurricanes. The study also found, however, that only a small fraction …

The article Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay appeared first on Insurance Journal.

Recent Quakes Push Interest, Sales of Policies in California
Don Jergler - April 22, 2014, 11:44 pm

Some people don’t need Earth Day to be reminded they live on a planet powered by the forces of nature. The recent string earthquakes on the Pacific belt may have hit home with California homeowners, who were already a bit …

The article Recent Quakes Push Interest, Sales of Policies in California appeared first on Insurance Journal.

Federal Suit Filed Against California Lawmaker, Aide in Fatal DUI
- April 22, 2014, 4:51 pm

The parents of a Santa Barbara woman who was fatally struck by a congresswoman’s aide filed a federal lawsuit against the driver, U.S. Rep. Lois Capps and the U.S. government. The wrongful death suit filed by Matt and Raeona Dies’ …

The article Federal Suit Filed Against California Lawmaker, Aide in Fatal DUI appeared first on Insurance Journal.

Monster Involved in Insurer-Funded Settlement in California
- April 22, 2014, 4:49 pm

Corona, Calif.-based Monster Beverage Corp. has agreed to settlement an ongoing securities class action lawsuit against the company and two of its officers in federal district court in Los Angeles. The settlement, reportedly worth $16.25 million, is pending court approval. The suit was …

The article Monster Involved in Insurer-Funded Settlement in California appeared first on Insurance Journal.

Not Guilty Plea Entered by PG&E In Deadly California Blast
- April 22, 2014, 4:38 pm

Pacific Gas and Electric Co. has pleaded not guilty to federal charges stemming from a natural gas pipeline explosion in California that killed eight people and injured 58 others in 2010, according to court filings. The utility was indicted by …

The article Not Guilty Plea Entered by PG&E In Deadly California Blast appeared first on Insurance Journal.

Pit Bull Owners Sue Louisiana Town over Breed Ban
- April 22, 2014, 4:29 pm

A New Llano, La., couple filed suit against the town in federal court, claiming the town’s ban on pit bulls and pit-bull-like breeds violates dog owners’ equal protection, property and due process rights. The American Press reports Christine and Victor …

The article Pit Bull Owners Sue Louisiana Town over Breed Ban appeared first on Insurance Journal.

Medical Payments per Claim for Injured Workers in Louisiana Rising
- April 22, 2014, 4:27 pm

Payments per claim for the medical care of injured workers in Louisiana were higher and growing faster than in most states, according to a 16-state study by the Workers Compensation Research Institute (WCRI). The WCRI study, CompScope Medical Benchmarks for …

The article Medical Payments per Claim for Injured Workers in Louisiana Rising appeared first on Insurance Journal.

Iowa Insurance Regulators Investigating Agency Accused of Overbilling
- April 22, 2014, 4:20 pm

Iowa regulators are investigating an insurance agency accused of overbilling thousands of government employees for health care coverage. The Iowa Insurance Division is focused on Two Rivers Insurance Co. The agency had been acting as an independent agent selling insurance …

The article Iowa Insurance Regulators Investigating Agency Accused of Overbilling appeared first on Insurance Journal.

Indiana Body Shops Sue Insurers over Compensation for Vehicle Repairs
- April 22, 2014, 4:15 pm

Indiana body shops and auto insurers are on a collision course over repair compensation practices, a dispute that could cost millions of dollars to patch up. In a federal lawsuit, 14 Indiana shops accuse State Farm Insurance and competitors of …

The article Indiana Body Shops Sue Insurers over Compensation for Vehicle Repairs appeared first on Insurance Journal.

Feds Widen Probe Into North Dakota Brothers’ Alleged Crop Insurance Scam
- April 22, 2014, 4:11 pm

Federal authorities have expanded the scope of their investigation into two brothers from North Dakota accused of intentionally destroying potatoes to collect crop insurance payments. The original indictment alleged that Aaron Johnson, 50, and Derek Johnson, 47, and their company, …

The article Feds Widen Probe Into North Dakota Brothers’ Alleged Crop Insurance Scam appeared first on Insurance Journal.

Farrell Promoted to Surety Underwriter at Michigan’s J.M. Wilson
- April 22, 2014, 4:04 pm

Portage Mich.-based managing general agency and surplus lines insurance broker, J.M. Wilson, has promoted Stephanie Farrell to surety underwriter. Farrell will be responsible for underwriting commercial and fidelity bonds for new and renewal business. In addition, she will review submissions …

The article Farrell Promoted to Surety Underwriter at Michigan’s J.M. Wilson appeared first on Insurance Journal.

Texas-Based All-Star Insurance Group Acquires Hogue Insurance Agency
- April 22, 2014, 4:00 pm

All-Star Insurance Group Inc. has acquired Hogue Insurance Agency in Quitman, Texas. Hogue Insurance Agency is now known as All-Star Insurance Group and has moved all operations to an office inside Wood County National Bank in Quitman. Tonda Tiffee Ward, …

The article Texas-Based All-Star Insurance Group Acquires Hogue Insurance Agency appeared first on Insurance Journal.

Marsh Report Finds Continued Demand for Terrorism Risk Insurance; Urges Renewal
- April 22, 2014, 3:14 pm

Demand for terrorism insurance remains strong and the existence of the federal terrorism risk insurance program plays a key role in making coverage available and affordable, according to a report released by insurance broker Marsh. According to Marsh’s 2014 Terrorism …

The article Marsh Report Finds Continued Demand for Terrorism Risk Insurance; Urges Renewal appeared first on Insurance Journal.

Lockton Technology Practice Expands to East Coast with Groeber
- April 22, 2014, 2:48 pm

Insurance broker Lockton announced that Shannon Groeber has joined its Philadelphia operation as senior vice president, Global Technology & Privacy Practice. Groeber’s addition expands the practice to the East coast. She will provide customized insurance programs and advisory services in …

The article Lockton Technology Practice Expands to East Coast with Groeber appeared first on Insurance Journal.

Lawsuits Over West Virginia Chemical Spill Moved to District Court
- April 22, 2014, 2:38 pm

Lawsuits against Freedom Industries Inc., whose leaky chemical tank polluted drinking water in West Virginia, were transferred from bankruptcy court to federal district court in Charleston last week to “assure efficient case administration.” On Jan. 9, eight days before the …

The article Lawsuits Over West Virginia Chemical Spill Moved to District Court appeared first on Insurance Journal.

Maryland AG Sues BP Over Pension Losses Tied to Gulf Oil Spil
- April 22, 2014, 1:21 pm

Maryland Attorney General Douglas F. Gansler  has sued BP plc. for allegedly making false and misleading statements regarding its commitment to safety reforms and oil spill prevention and response capabilities. Ganlser claims the Maryland State Retirement and Pension System relied …

The article Maryland AG Sues BP Over Pension Losses Tied to Gulf Oil Spil appeared first on Insurance Journal.

GM Asks Court to Enforce Bankruptcy Liability Shield Against Ignition Lawsuits
- April 22, 2014, 12:56 pm

General Motors Co. filed a motion in a U.S. bankruptcy court to enforce a bar on lawsuits related to ignition defects in cars sold before its 2009 bankruptcy as it fights a class action lawsuit that seeks to set aside …

The article GM Asks Court to Enforce Bankruptcy Liability Shield Against Ignition Lawsuits appeared first on Insurance Journal.

West Virginia Seeks Input on Chemical Tank Safety Rules
- April 22, 2014, 12:46 pm

West Virginia regulators are asking stakeholders for input as they begin developing rules to implement a new chemical storage tank safety law. The Water Resources Protection Act regulates above-ground storage tanks like the one that leaked at Freedom Industries on …

The article West Virginia Seeks Input on Chemical Tank Safety Rules appeared first on Insurance Journal.

Judge Dismisses Suit Challenging New Hampshire Ski Resort Immunity
- April 22, 2014, 12:43 pm

A judge has dismissed a Massachusetts couple’s lawsuit against the operators of a New Hampshire ski area, saying the companies can’t be held liable for a crash between a ski instructor and a teenage boy. Susan and Michael Hanus sued …

The article Judge Dismisses Suit Challenging New Hampshire Ski Resort Immunity appeared first on Insurance Journal.

Exxon Denied Appeal of Jury Award Over MTBE in New York City Water
- April 22, 2014, 12:40 pm

The U.S. Supreme Court rejected Exxon Mobil Corp.’s appeal of a $105 million jury verdict it was ordered to pay for contaminating underground water in New York City with a gasoline additive. The Irving, Texas-based oil and gas company argued …

The article Exxon Denied Appeal of Jury Award Over MTBE in New York City Water appeared first on Insurance Journal.

Rhode Island Homeowners Seek FEMA Grants to Elevate Houses
- April 22, 2014, 12:33 pm

Some Rhode Island residents are seeking federal grant money to help pay for elevating their homes to reduce the risk of flooding —  and avoid spikes in flood insurance rates. Seven homeowners in Barrington who want to elevate their homes …

The article Rhode Island Homeowners Seek FEMA Grants to Elevate Houses appeared first on Insurance Journal.

How Uber, Tesler Are Disrupting Transportation Monopolies: Viewpoint
- April 22, 2014, 12:30 pm

Question: What’s an automotive monopolist’s worst nightmare? Answer: Uber picks you up in a Tesla. Two big Silicon Valley companies are busy disrupting state-sponsored transportation monopolies. Uber is competing with locally regulated taxi companies, and Tesla wants to sell its …

The article How Uber, Tesler Are Disrupting Transportation Monopolies: Viewpoint appeared first on Insurance Journal.

CNA Appoints Mueller Vice President – International
- April 22, 2014, 10:48 am

CNA Financial Corporation announced the appointment of Timon Mueller as Vice President of International. He “will lead an underwriting team to strengthen our Home Foreign business and expand our international capabilities,” said the announcement. John Beckman, Chief Underwriting Officer, Commercial, …

The article CNA Appoints Mueller Vice President – International appeared first on Insurance Journal.

Endurance Appoints Housley as Global Property Insurance Leader
- April 22, 2014, 10:46 am

Bermuda-based Endurance Specialty Holdings has announced that Richard Housley has joined the company this week as Executive Vice President and Global Practice Leader for Property Insurance. He has extensive experience in property insurance markets where he has held various underwriting …

The article Endurance Appoints Housley as Global Property Insurance Leader appeared first on Insurance Journal.

Report: Former EU Banker Urges Reactivate Securitization to Enhance Credit
- April 22, 2014, 10:41 am

Jacques de Larosiere says he is an isolated and modest man. Yet the 84-year-old former head of the International Monetary Fund is one of the most influential voices in European and global finance. An eminence grise as respected among France’s …

The article Report: Former EU Banker Urges Reactivate Securitization to Enhance Credit appeared first on Insurance Journal.

El Nino Seen Starting by July as UN Highlights Risk to Rice
- April 22, 2014, 10:30 am

An El Nino will probably start as soon as July, according to the Australian government forecaster, adding to predictions for the event that can affect weather patterns worldwide and roil farm-commodity prices. All the climate models surveyed indicated that an …

The article El Nino Seen Starting by July as UN Highlights Risk to Rice appeared first on Insurance Journal.

How Millennials View the Job Market
- April 22, 2014, 10:00 am

Briana Tony hasn’t graduated from college yet, and she’s already frustrated with the job market. She’s been through four jobs and said she moved on from each because of a lack of respect and poor upward mobility. “Our generation isn’t …

The article How Millennials View the Job Market appeared first on Insurance Journal.

Effective December 16th, We’re Moving on Up – Same Building, Different Office. Southwest Risk is moving from the 10th floor to the 14th floor:

8144 Walnut Hill Lane
Suite 1400
Dallas, TX 75231