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| News for property casualty insurers |
- U.S. reinsurers' net premiums written rose 6%
U.S. property-casualty reinsurers, for the nine months ended Sept. 30, saw an increase of net premiums written of $1.1 billion, or 6%, compared to the same period in 2007, according to the Reinsurance Association of America. The survey of 20 reinsurers' statutory underwriting results found the group wrote $19 billion in net premiums against $17.9 billion during the same 2007 time frame. PropertyCasualty360.com
(12/1)       
 | For 14 years, Munich Re has presented the results of its annual worldwide survey of natural catastrophes in Topics Geo. The 2007 edition provides a special focus on providing background analyses that are of practical application. For a printed copy, send your name and address to Info@munichreamerica.com. Include in the subject line: MR Topics GEO 2007. |
| Industry Trends |  | |
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- Past lessons shape storm planners' outlook
A strong warning to evacuate emptied New Orleans before Hurricane Gustav struck in early September. A couple of weeks later, urging residents to stay in place may have helped reduce highway congestion before Ike struck the Houston region. Gulf Coast cities' emergency planners are using lessons learned to avoid a repeat of the Katrina and Rita disasters in 2005. "One size fits all" thinking has been replaced by variable responses dependent on developing situations. Insurance Journal/The Associated Press
(12/1)
- Expert: Compliance features in global financial crisis
In the midst of the global financial crisis, Praveen Sharma, senior vice president and practice leader at Marsh Inc.'s regulatory and tax consulting unit, has seen a recent increase in audits carried out by tax and regulatory authorities. Inconsistent responses from insurers, particularly those in the EU and the U.S., compound the situation for multinationals. Business Insurance
(12/2)
- Inauguration poses insurance, legal issues for temporary landlords
Residential property owners in the Washington metro area could reap big profits during the presidential inauguration, but there are associated issues to bear in mind. Property owners owe a specific duty of care to every person who enters their property. While there are few insurance ramifications, legal liability could be an issue. Insurance Journal
(12/2)
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| The Buzz(CORPORATE ANNOUNCEMENTS)
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Interested in learning more about advertising in PCI SmartBrief? Contact Abiy Bekele at 212-450-7919 or abekele@smartbrief.com.
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| State Advocacy | | |
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- Ohio hit by phone scam
The Ohio Department of Insurance is alerting consumers to a recent phone scam in which the caller falsely claims to be a representative of the person's auto insurance company. The caller requests the consumer's personal and financial information for processing an insurance payment. Specific information requested includes bank account and Social Security numbers. Chillicothe Gazette (Ohio)
(12/2)
- On-the-job deaths decline in Virginia
Recently released federal figures show Virginia workplace fatalities decreased by 15%, from 165 in 2006 to 141 in 2007. In a previous period, 2003 to 2007, 818 workers were killed on the job. More than half of these deaths took place in construction, transportation, warehousing and government. Insurance Journal/The Associated Press
(12/1)
| Commercial Lines | | |
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- Insurance for oysters is Louisiana first
The Agriculture Department's Federal Crop Insurance Corp.' pilot program offers group insurance coverage to Louisiana oyster growers. The agency will offer the insurance to farmers at a reduced premium in the hope of eliminating the need for federal aid when crops are wiped out by catastrophes like hurricanes, said Mike Voisin, vice president of Motivatit Seafood in Houma, a member of the state's Oyster Task Force. Daily Comet (Thibodaux, La.)
(12/1)
- Construction spending drops 1.2% in October
Construction spending dropped 1.2% in October, higher than the 0.9% decline projected by economists. The dismal figures are another indicator of deepening and persistent problems facing builders of homes, hotels and other projects. Chicago Tribune
(12/2)
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