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July 2009
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'Ike Dike' proposed along Texas coast

by Insurance Headlines - Jul 16,2009

GALVESTON, Texas - It has been dubbed the "Ike Dike" — a 55-mile barrier, 17 feet high, that would be built along the Texas Gulf Coast to fend off the sort of devastating flooding inflicted by last year's Hurricane Ike. The ... [full story]

2009-10 El Nino near certain: new kind of El Nino hurricane threat discovered

by - Jul 06,2009

El Niño years typically result in fewer hurricanes forming in the Atlantic Ocean. But a new study suggests that the form of El Niño may be changing potentially causing not only a greater number of hurricanes than in average years, ... [full story]

Agreement set to roll back N.C. auto insurance rates

by AP Associated Press - Jul 17,2009

RALEIGH, N.C. — Some North Carolina drivers will share in $50 million worth of refunds under an agreement announced Wednesday that will roll back private auto insurance rates to 2006 levels and freeze them for two years. State Insurance Commissioner Wayne ... [full story]

Alaska's largest wildfire continues to grow

by AP Associated Press - Jul 20,2009

ANCHORAGE, Alaska (AP) — A large Alaska wildfire sparked by lightning more than three weeks ago continues to increase in size but firefighters are keeping the blaze from taking off. The Railbelt Complex fire 12 miles from Nenana is actually three ... [full story]

Average commercial premiums fall in 2nd quarter

by - Jul 30,2009

Despite falling policyholder surplus, insurers continued to compete vigorously for business in the second quarter of 2009, according to the quarterly RIMS Benchmark Survey, produced by New York-based Advisen Ltd. With the exception of directors and officers insurance premiums for financial ... [full story]

Bank failures since 2000

by - Jul 13,2009

In the past few years discussion of failed banks has become a very popular topic and concern both in regional areas and on Capitol Hill. It’s also turned the Federal Deposit Insurance Company (FDIC) and its Chairman Shelia Bair into ... [full story]

Bill Seeks to Ban Texting By Drivers

by - Jul 31,2009

A bill introduced Wednesday in the Senate would require states to write laws to prohibit text messaging by drivers or risk losing 25 percent of their annual federal highway money. The proposal, sponsored by a group of Democrats including Sen. ... [full story]

C-level Insurance Salaries Dropping

by Insurance Networking News - Jul 23,2009

The impact of the financial services meltdown is evident all around the insurance industry. A new survey from Charlottesville, Va.-based SNL Financial leaves no doubt about the wounds the crisis has inflicted on the compensation of C-level insurance executives. ... [full story]

Calif. Plan To Cut Penalties On Insurance Crime Protested

by National Underwriter - Jul 01,2009

Four anti-fraud groups have written California Gov. Arnold Schwarzenegger, criticizing his budget proposal to downgrade most insurance crimes from felonies to misdemeanors. The governor has advanced the idea as a method to save on prison costs. But, the organizations warned in their ... [full story]

California to probe insurers on Iran investments

by - Jul 01,2009

SACRAMENTO, Calif.—California Insurance Commissioner Steve Poizner on Monday said he will probe California’s domestic insurers to ensure they comply with a state law prohibiting companies based in the state from investing in Iran. “State law prohibits California insurance companies from investing ... [full story]

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