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December 10, 2007 News for property casualty insurers   Top Story    DOJ looks into possibility of multiple briberies in Scruggs case A fee dispute with another attorney led to the bribery charges against Mississippi plaintiff attorney Richard Scruggs. Meanwhile, an official investigating the Scruggs case said the DOJ is looking into whether Scruggs engaged in multiple bribery attempts. An attorney who fought with Scruggs in a prior fee dispute noted that Scruggs is "willing to use any means to an end." Scruggs' lawyer maintains that his client is innocent. NYTimes.com (12/9) Facing the Future of Insurance Explore our space at this innovative interactive event that uses cutting edge technology to bring the latest information on trends, strategies and the future of the P&C marketplace, presented by industry executives & analysts. IBM will showcase thought leadership materials, customer references and webcasts. Click to register.   Industry Trends    Local governments continue to withdraw money from investment pool Local governments in Florida on Friday continued pulling money out of the state-run investment pool. However, fund managers say they are removing funds at a slower pace. Citizens Property Insurance was among the investors withdrawing funds. The Miami Herald/Associated Press (free registration) (12/8) Analysis: Allstate well-positioned for rally Andrew Bary examines Allstate stock, which is trading at a depressed level. However, Bary says, investors need to focus more on the potential rewards than the potential risks. Assuming no catastrophes similar to Hurricane Katrina, a better financial-stocks situation and no major profit decline for the insurer, Allstate stock could be up 25% in a year. Barron's (subscription required) (12/10) Opinion: Mild hurricane season won't bring rates down The mild 2007 hurricane season is unlikely to ease Florida's property insurance problems, the Ocala Star-Banner editorial board writes. Insurance Information Institute President Robert Hartwig noted that claims from storms in 2004 and 2005 cost companies $13.1 billion. Ocala Star-Banner (Fla.) (12/10) Washington state officials gather reports of uninsured losses County officials across Western Washington are urging residents, cities and business owners to submit uninsured losses that were caused by severe storms. The governor's office will then determine whether Washington qualifies for an emergency-disaster relief declaration. The Seattle Times (12/8) Companies turn green by reducing energy use, waste Thousands of small businesses nationwide are launching environmental efforts -- by reducing energy use, depending less on oil products and recycling. This USA TODAY report says what some small businesses can do to join the trend and also shows how owners responded to a survey on additional emission standards and willingness to pay a higher cost for green products. The Indianapolis Star/USA Today (12/10) Gartner & QlikView present: "Next Generation Business Intelligence." Watch this Business Intelligence Webinar - today & learn how analysis has become simpler, faster, and more broadly deployed. This Webinar features Gartner and QlikView specialists highlighting next-generation BI trends.   Personal Lines  Texas to launch insurance verification program next month Texas officials next month will launch a program that will penalize motorists who drive without automobile insurance. The program will allow police officers and other officials to instantly verify whether a motorist carries the minimum required insurance. The Dallas Morning News (free registration) (12/10)   Commercial Lines  Insurance costs soar for Florida business owners Business owners in Florida's Polk County are facing large increases in the cost of commercial property insurance with wind coverage. Policies now cost $1.10 per $1,000 in coverage, compared with 40 cents per $1,000 before hurricanes hit in 2004 and 2005. The Ledger (Lakeland, Fla.) (12/10)   Policy and Law  USAA calls for increased federal regulation of insurers United Services Automobile Association is urging the federal government to promote uniform regulation of the insurance industry. USAA provides auto and property coverage to servicemen and women, even if they move to high-risk states. As a result, the company does business in all states plus the District of Columbia and three U.S. territories, so it must deal with 54 regulatory agencies. The Miami Herald (free registration) (12/10)   SmartQuote  Compassion is the basis of all morality." --Arnold Schopenhauer, German philosopher     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 SmartBrief.com A powerful website for SmartBrief readers including: Industry Home Readers' Choice Search Archive Grab our News Widget Get this RSS Feed Publish your Press Release Download the SmartBrief Android app       Recent PCI SmartBrief Issues: Friday, December 07, 2007 Thursday, December 06, 2007 Wednesday, December 05, 2007 Tuesday, December 04, 2007 Monday, December 03, 2007     Lead Editor:  Angela Giroux-Scheide Contributing Editor:  Karen Kantor     Mailing Address: SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005     © 1999-2011 SmartBrief, Inc.® Legal Information