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December 30, 2008 Sign up Forward Archive Advertise The daily insurance industry news source   News of the Day  2008 traffic fatalities likely lowest on record, NHTSA says The National Highway Traffic Safety Administration has projected an almost 10% drop in road fatalities for the first 10 months of 2008. The NHTSA, which has taken advantage of new technology to generate estimates prior to the end of a calendar year, says the numbers are on track to be the lowest since 1966, when the government began tracking traffic deaths. RoadsBridges.com (12/29) Did you know that many insurance carriers accept American Express for insurance premium payments? Encouraging your clients to pay their insurance premiums with an American Express OPEN Card is a win-win for you and your clients. Click here to learn more.   Industry Watch  Munich Re says 2008 catastrophic, but not as bad as 2005 German reinsurance giant Munich Re reported that while 2008 was rich in catastrophes -- with more than $200 billion in losses -- 2005 still holds the record at $232 billion. Covered losses in 2008 were $45 billion, an increase of 50% over 2007. Business Insurance (12/29) Nationwide to buy back chunk of its financial-services division Nationwide Mutual Insurance is set to repurchase 34% of Nationwide Financial Services for $2.48 billion on Thursday. The portion of the unit, which sells life insurance and retirement-income instruments, was sold by its parent about 10 years ago when Nationwide wanted to focus on its home and auto insurance segments. The Wall Street Journal (tiered subscription model) (12/30) A.M. Best: P/C insurers experienced underwriting loss through Q3 A.M. Best reports that the U.S. property-and-casualty insurance sector had an $8.7 billion underwriting loss for the first three quarters of 2008, putting it on pace for its first year-end underwriting loss since 2005. The entire sector experienced a 0.6% decrease in new premiums written in the first nine months of the year, falling to $339 billion. Net income for the same period fell 85% to $7.3 billion. Business Insurance (12/29) IMF: Banks should carry recession insurance The International Monetary Fund has proposed mandating that banks carry government-backed recession insurance before they can borrow. The IMF proposal is aimed at curbing economic uncertainty that causes individuals and businesses to quit spending, thus prolonging recessions. Forbes/Reuters (12/29) Auto accidents cited as large risk to world's children A joint study by the World Health Organization and UNICEF revealed that road crashes are the No. 1 preventable cause of childhood injuries and deaths among 10- to 19-year-olds worldwide. The rest of the top five risks for children are drowning, burns, falls and poisoning. ConsumerReports.org/Cars Blog (12/29)   Trends & Technology  Watson Wyatt expects more insurance M&A's in 2009 Global financial consulting firm Watson Wyatt predicts additional mergers and acquisitions for insurers in 2009. "M&A activity may well increase as companies begin to line up as either buyers or sellers," said Craig Buck, the firm's U.S. head of insurance consulting. FTAdviser.com (12/29) Economic capital modeling increasing among insurers Insurance companies are stepping up their use of economic capital modeling in the Enterprise Risk Management Process, according to this article. Use of the technique is having an increasing influence on the decision-making process, according to experts. Insurance Journal (12/29)   Business Leadership  New Year's deadlier for pedestrians than drivers The Fourth of July -- not New Year's -- is the deadliest day of the year for motorists, with an average of 61 fatalities, the Insurance Institute for Highway Safety reports. New Year's Day actually ranks a distant fourth, with 142. However, New Year's Day is the deadliest for pedestrians, with an average of 410 people losing their lives, usually associated with alcohol consumption. NYTimes.com (12/29)   Best Practices  How to take a call in a loud room For those with a must-take call in a noisy spot, here's a tip from neuroscientist Sam Wang: Put your finger over the microphone as you listen. Otherwise, noise from both the room and your caller is funneled into the same ear and your brain can't handle it. Wired magazine (12/2008)     SmartQuote  You have got to discover you, what you do, and trust it." --Barbra Streisand, recipient of 2008 Kennedy Center Honors Award   NAMIC Resources About NAMIC Event calendar Advocacy (Members Only) Services NAMIC Staff Write NAMIC   Subscriber Tools       Print friendly format | Web version | Search past news | Archive | Privacy policy Advertise Sales Account Director:  Abiy Bekele (212) 450-7919 Download Media Kit   Read more at dailyLead.com A powerful website for dailyLead® readers including: Industry Home Readers' Choice Search Archive Get this RSS Feed Publish your Press Release       Recent NAMIC dailyLead® Issues: Monday, December 29, 2008 Friday, December 26, 2008 Wednesday, December 24, 2008 Tuesday, December 23, 2008 Monday, December 22, 2008     Lead Editor:  Brooke Howell       Mailing Address: SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005     © 1999-2011 SmartBrief, Inc.® Legal Information