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November 6, 2009 News for property casualty insurers   Top Story    NHTSA: U.S. road deaths decline in first half of 2009 Traffic fatalities across the country fell by 7% in the first half of 2009 from the same period last year, according to the National Highway Traffic Safety Administration. The country's overall fatality rate also dropped to 1.15 deaths per 100 million vehicle miles traveled from 1.23 last year. TheCarConnection.com/The Road Ahead blog (11/5) New White Paper P&C Policy Admin Systems: Buy, Build or Outsource? While building a policy admin system from scratch may have its merits, insurers need to carefully consider the real costs and risks. This paper outlines the advantages of buying a policy admin system vs. building vs. outsourcing and why insurers should consider a best-of-breed system. Download Today   Industry Trends  Analyst: P/C insurers face bleak prospects ahead Despite its hefty earnings in the third quarter, the property/casualty insurance industry is facing a number of challenges ahead, according to an analyst with Barclays Capital. P/C insurers' premiums, policy volumes as well as underwriting gains have been on a decline in recent years, while their investment performance lags behind other financial services sectors despite a steep recovery from the economic downturn. Forbes (11/5) New York law spurs 56% rise in no-fault injury costs New York needs to revamp its no-fault auto insurance policy that caused a 56% increase in accident victims' claims costs in the second quarter this year, according to the Insurance Information Institute. "The costs of fraud and abuse of the state's no-fault system ultimately are borne by New York's honest policyholders," III President Robert Hartwig said. National Underwriter (free registration) (11/5)   Personal Lines  Ford develops inflatable seat belt to enhance safety Ford has designed inflatable seat belts to enhance the safety of rear-seat passengers. The safety belts inflate like an air bag during a collision and spread the force of the impact across the passenger's chest, the company said. USA TODAY (11/5) Other News Wisconsin's traffic fatalities drop to record low in October WEAU-TV (Eau Claire, Wis.) (11/5)   Featured Content    Cardmember Story: Rafe Totengco Rafe Totengco from OPEN Book: Social Media Social Media: What's Next? Adam Ostrow from OPEN Book: Social Media Denim Therapy: Re-Visiting a Culture of Repair Instead of Replace Jill Fehrenbacher How to Avoid the 'Bah Humbug' Spirit From Consumers This Holiday Season Janet Thaeler from Small Business Trends The Benefits of Outsourcing Your Billing Michelle V. Rafter   Policy and Law  New York regulators move to re-establish insurance exchange The New York Insurance Department is working to re-establish the state's insurance exchange next year. Gov. David Paterson is "very supportive" of the plan to revive the exchange, which will be similar to the marketplace system of Lloyd's of London, said Kermitt Brooks, the state's first deputy insurance superintendent. National Underwriter (free registration) (11/5) , Business Insurance (11/5)   Catastrophic Risk  Dispute over global insurance threatens climate-change treaty World leaders are at odds over a provision in the climate-change draft treaty that seeks to create an international insurance program for countries most vulnerable to climate change. "It's really kind of a showdown between countries like the United States, the big, powerful ones that historically contributed most to greenhouse gas emissions, and the little ones, like these small island development states, 40 of which might disappear by 2050 with certain sea level rise scenarios," a United Nations official said. The New York Times/ClimateWire (11/5) Dam repair reduces flood risk in Washington state valley The Army Corps of Engineers has repaired Washington's Howard Hanson Dam, reducing the threat of flooding in the state's Green River Valley for the winter season. Last season's storms damaged the structure's abutment, affecting its water-storage capacity and raising flood alarms during heavy rains in the winter. American City Business Journals/Seattle (11/5) , Google/The Associated Press (11/5) Brush fire hits Southern California A brush fire broke out in Southern California on Tuesday, charring 50 acres near Los Angeles. The blaze was fully contained and caused no property damage, but at least five people were hurt, officials said. Insurance Journal/The Associated Press (11/5) Georgia floods an extreme event, experts say Although considered one of the worst to hit the U.S. in the past century, the flood in Atlanta and other parts of Georgia in September is extremely unusual, according to the U.S. Geological Survey. An analysis shows the floods' magnitude is so rare that experts "cannot accurately characterize the probability due to its extreme rarity," an agency official said. The New York Times/The Associated Press (11/5) , United Press International (11/5) Recent storms spawned 22 twisters in 3 states Last week's storms produced 22 tornadoes in Arkansas, Louisiana and Texas, according to the National Weather Service. The twisters caused property damage and injured many people, with the most powerful touching down in Shreveport, La. KTBS-TV (Shreveport, La.) (11/5)   Association News  PCI sends systemic-risk analysis to House committee According to a PCI paper delivered to members of the House Financial Services Committee, home, auto and business insurers are not systemically risky, and their policyholders should not be forced to subsidize risky Wall Street firms. PCI supports bipartisan building codes legislation PCI supports legislation under consideration by the House Transportation Committee that would encourage the adoption and enforcement of statewide building codes throughout the nation. 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