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January 2012
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2012 starts with bad weather signs for insurers

by Reuters - Jan 16,2012

BOSTON (Reuters) - Damaging hailstorms in Australia. Unprecedented tornadoes in the southeastern United States. Constant windstorms in northern Europe. Sound familiar? This year is starting a lot like last year in terms of unexpectedly severe weather, to the consternation ... [full story]

28 states act on insurance exchanges

by Reuters - Jan 18,2012

The Obama administration said Wednesday that 28 U.S. states have taken steps to establish insurance exchanges under the 2010 health care law, despite the legal and political uncertainties threatening the overhaul. Fourteen states, including several led by Republican governors, ... [full story]

A Bevy of Regulatory Issues for Insurers

by Insurance Networking News - Jan 23,2012

On both the federal and international levels, 2012 will be a profoundly important year in the realm of insurance regulation. Few people are likely more cognizant of this than Ben McKay, SVP of federal government relations for the Property ... [full story]

A majority of Floridians support ban on texting while driving

by MiamiHerald.com - Jan 30,2012

TALLAHASSEE -- An overwhelming majority of Florida voters — 71 percent — support prohibiting motorists from text messaging while driving, according to a new Times/Herald/Bay News 9 poll. Florida is one of only 15 states without some kind of ... [full story]

Allstate plans Illinois homeowners insurance rate hike of 4-10%

by Chicago Tribune - Jan 12,2012

Allstate Corp. plans to raise Illinois homeowners insurance rates 4 percent to 10 percent. That represents an increase in premiums of $4 to $9 a month, the company said. The increases for new business and renewals are effective March ... [full story]

Auto Hacking Seen as Growing Risk With Electronics Frenzy

by Bloomberg.com - Jan 31,2012

Drivers can talk with each other via Bluetooth phone connections, ask their cars for directions and dial up satellite radio. The same cars use electronic components to signal the gas pedal to accelerate and control stability. What increasingly worries ... [full story]

Availability, pricing of coverage main concerns for insurance buyers

by BusinessInsurance.com - Jan 24,2012

A survey of a global coalition of insurance brokers finds that nearly all believe the top concern facing their clients is the availability and pricing of coverage. The issue is particularly challenging for buyers with large natural catastrophe and ... [full story]

Big Banks Face Inquiry Over Home Insurance

by The New York Times - Jan 10,2012

A New York State financial services agency is investigating several large banks to see whether they fraudulently steered homeowners into overpriced insurance policies. The investigation centers on so-called force-placed insurance that has become increasingly common since the downturn of ... [full story]

Billing System Activity Remains High for P&C Insurers

by Insurance Networking News - Jan 23,2012

Insurers continue to have a number of functionality and improved technology options when it comes to renewing or replacing billing systems, according to a new report from Celent. In an effort to help insurers refine their systems strategies and, where ... [full story]

Calif. prevention program has little effect on worker injuries, fatalities

by BusinessInsurance.com - Jan 17,2012

OAKLAND, Calif.—California's Injury and Illness Prevention Program has had little impact on reducing worker injuries and fatalities in the state, according to a report from the California Commission for Health, Safety and Workers' Compensation. The commission released a draft ... [full story]

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