 |  |
| News for property casualty insurers |
 | |
| Top Story |  | |
|
- Many policyholders fail to grab insurance discounts, survey finds
A survey by the Independent Insurance Agents & Brokers of America found many consumers are not taking advantage of available discounts for their homeowners' and auto insurance policies. "The latest survey shows what we suspected: Many Americans could be foolishly throwing money away because they fail to ask about insurance discounts for which they may qualify," an executive from the group said. Insurance Networking News
(11/12)
     
| Industry Trends | | |
|
- Report: Challenges await Bermuda insurers, reinsurers despite gains
Although Bermuda insurance and reinsurance providers are making robust gains this year, they still need to hurdle soft market conditions resulting from the credit crisis, according to a report from Moody's. The companies also face regulatory reform initiatives in Congress and unstable capital markets that could expose them to increased loss costs, the report added. Business Insurance
(11/12)
| Personal Lines | | |
|
- As auto industry pursues better safety designs, road deaths drop
Car manufacturers are developing more advanced technologies to meet motorists' growing demand for safer vehicles. Air bags, safety belts and other features that help prevent fatal crashes and injuries contributed to the downward trend in traffic fatalities in recent years, an industry executive said. MSNBC
(11/13)
| Policy and Law | | |
|
| Catastrophic Risk | | |
|
- Mid-Atlantic Coast slammed by Ida spinoff
The storm from the remnants of Tropical Storm Ida drenched the Mid-Atlantic Coast and flooded many coastal and low-lying areas in the region. Strong winds toppled trees and power lines, resulting in outages in several areas. At least four people were killed in Virginia and North Carolina, while three fishermen were reported missing after their boat capsized off of New Jersey's coast. The storm is expected to leave the region by Saturday, forecasters said. ABC News
(11/12)
, USA TODAY/The Associated Press
(11/12)
- Florida insurer seeks rate hike to offset potential storm losses
Florida's Citizens Property Insurance Corp. is seeking to increase rates for its risky policies by an average of 7.5% to offset huge potential losses from a major hurricane. Insurance Information Institute President Robert Hartwig backed the move, but lawmakers insisted on a lower hike as the insurer failed to account for revenues worth about $100 million from recent rate increases. The New York Times/ClimateWire
(11/12)
| Association News | | |
|
- Tell Congress Main Street shouldn't subsidize Wall Street
The House Financial Services Committee will begin marking up H.R. 3996, the Financial Stability Improvement Act of 2009 -- a bill addressing systemic risk regulation and resolution authority. Contact your Representative and explain that property/casualty insurers are not systemically risky and should not be subject to new and duplicative regulation, which could harm consumers, and that the industry already has a resolution mechanism in place.
| SmartQuote | | |
|
 | Defining and analyzing humor is a pastime of humorless people."
|
| |
| |
|
Read more at SmartBrief.com |
|
A powerful Web site for SmartBrief readers including:
|
|
|
|
| |
| |
| | Recent PCI SmartBrief Issues:
- Thursday, November 12, 2009
- Wednesday, November 11, 2009
- Tuesday, November 10, 2009
- Monday, November 09, 2009
- Friday, November 06, 2009
| | | Lead Editor: Brooke Howell
Mailing Address:
SmartBrief, Inc.®, 1100 H ST NW, Suite 1000, Washington, DC 20005 | |
| |
|
| © 1999-2009 SmartBrief, Inc.® Legal Information |
|
