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December 29, 2008 Sign up Forward Archive Advertise The daily insurance industry news source   News of the Day    Insurers groups unhappy with records seizure by FTC NAMIC, the American Insurance Association and the Property Casualty Insurers of America have all expressed concern over the Federal Trade Commission's seizure of insurers' records to determine whether the use of credit scoring to set rates discriminates against the poor and minorities. Jimi Grande, vice president, federal and political affairs for NAMIC, said he doesn't expect the FTC to find anything new when they study the records. PropertyCasualty360.com (12/26)   Feeling the Pinch in Today's Difficult Credit Market? Increasing credit costs can ripple through your business to affect longer-term plans that are essential to growth. Download the CFO Research Services report produced in collaboration with American Express: No Stone Unturned: Strategies for Cash Management in Hard Times to gain insight on how midsize companies are adapting in order to maintain their competitive positions under tough circumstances.     Industry Watch  Cheap bail-bond scheme seen as possible danger to public safety Some criminal defendants are being released through extremely cheap financing provided by bail bondsmen -- a practice that is keeping law enforcement and insurance professionals awake at night. "When you have a bail bond that's half a million dollars and you can get out with 1% down, that's pretty scary," said Bill Lee, a deputy district attorney in California's San Bernardino County. Chicago Tribune/The Associated Press (12/26) Midwest faces floods, power outages in wake of storm The National Weather Service has issued flood warnings for several areas along the Illinois River and in other areas in the Midwest. The river was expected to reach the 18-foot flood stage in Peoria, Ill., by noon today, with an anticipated crest of 23 feet on Thursday. Power outages continued Sunday throughout portions of central Illinois. Peoria Journal Star (Ill.) (12/28) Iowa area to get $10M from FEMA after flooding Flood-mitigation and -recovery projects in eastern Iowa will receive more than $10 million from FEMA. Repairs to flood walls, drainage systems and a power station, along with dredging activity, are among the planned projects. Insurance Journal/The Associated Press (12/29) Rain, hail bring stormy close to 2008 in Midwest Storms drenched parts of the Midwest with rain over the weekend, melting ice, pelting property with hail and leading to reports of funnel clouds. Flooding is expected across Illinois, and power outages were reported in at least two states. Yahoo!/The Associated Press (12/28), The Des Moines Register (Iowa) (12/28), Google/The Associated Press (12/29)   Best Practices  Making the most of sales strategies and tools A changing business climate requires companies to constantly re-evaluate and fine-tune their sales and marketing strategies. Some areas to review in the coming year include making sure the right products are being presented to appropriate clients, remaining sensitive to the way customers conduct business and determining when "virtual" presentations can be used to save time and effort. Manage Smarter (12/29)   NAMIC News  Report: Catastrophe losses in 2007 impacted by high losses from flood and storm damage in Europe According to initial estimates, tens of thousands of people were killed by natural and man-made catastrophes in 2007. The catastrophes led to overall financial losses of $61 billion across the globe. Property insurers had to contend with losses totaling $25 billion. The preliminary estimates of catastrophe losses in 2007 mentioned in the Swiss Re sigma include three insured losses running into the billions in Europe, two in North America, and one in Asia.   NAMIC weeklyPoll  3 more states set to require breathalyzers in offenders' cars Alaska, Illinois and Washington will require convicted drunken drivers with a blood-alcohol content of 0.08% or more to have special breathalyzers installed in their vehicles. The devices, wired into a car's ignition system, won't allow it to start if the driver has been drinking. Sixteen other states already have similar laws on their books. USA TODAY (12/29) California declares autos to be text-free zones California is about to join five other states in banning text messaging while driving. The law, which becomes effective Thursday, is a continuation of legislation that took effect in July to crack down on the unsafe use of cell phone technology while vehicles are in motion. San Francisco Chronicle/The Associated Press (12/28) Calif. budget standoff halts flood-control funding The continuing stalemate between California Gov. Arnold Schwarzenegger and the Legislature over the state's budget has stopped up $3.8 billion in infrastructure funding for the next six months. The governor warned of potential failure of levees -- which are among the areas that will not receive funding -- in the event of an active winter storm season. Environment News Service (12/26)   SmartQuote  Hope is a waking dream." --Aristotle, ancient Greek philosopher   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: Friday, December 26, 2008 Wednesday, December 24, 2008 Tuesday, December 23, 2008 Monday, December 22, 2008 Friday, December 19, 2008     Lead Editor:  Brooke Howell       Mailing Address: SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005     © 1999-2011 SmartBrief, Inc.® Legal Information