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January 22, 2013

  Top Story 
  • Survey: Cyberinsurance posted significant premium growth last year
    Cyberinsurance premium volume increased 25% last year as standalone cybercoverage grew to a $1 billion market, according to a survey by Betterley Risk Consultants. "More clients are looking, and we are seeing greater seriousness to their research," Marsh's Robert Parisi says. "Most of the accounts we take into the process of quoting are buying the coverage. Our book is growing commensurate with that activity." PropertyCasualty360 (1/21) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Study: Late-term medical costs are rising for work-related injuries
    A greater portion of medical-services costs is coming from treatment of work-related injuries that are at least 20 years old, according to a study by the National Council on Compensation Insurance. "It is likely that more than 10 percent of the cost of medical benefits for the workplace injuries that occur this year will be for services provided more than two decades into the future," NCCI said. PropertyCasualty360 (1/21) LinkedInFacebookTwitterEmail this Story
  • Study: Obese drivers face greater likelihood of death in crashes
    A study that looked into accident data from the National Highway Traffic Safety Administration found that obese motorists are more likely than normal-weight drivers to be killed in road crashes. Drivers with the highest body mass index were found to have an 81% greater likelihood of dying in crashes. "Vehicle designers are teaching to the test -- designing so that crash-test dummies do well. But crash-test dummies are typically normal size adults and children. They're not designed to account for our nation's changing body types," says Thomas Rice of the University of California, Berkeley. The New York Times (tiered subscription model)/Well blog (1/21) LinkedInFacebookTwitterEmail this Story
  Catastrophic Risk 
  • Debate over rebuilding emerges again in Sandy-hit areas
    Hurricane Sandy is the most recent event to prompt scientists to urge policymakers to consider steps such as buying out properties in areas repeatedly damaged by storms instead of rebuilding those communities. Many communities in storm-prone areas, however, still support rebuilding efforts. Although retreating from highly vulnerable areas is supported scientifically, the storm-prone areas have features that add character to the communities and support business and tourism, said Jon Miller of New Jersey's Stevens Institute of Technology. The Washington Post/The Associated Press (1/21) LinkedInFacebookTwitterEmail this Story
  • Officials voice concern about sinking Calif. levees
    Some of the levees in California's San Joaquin Valley have sunk and may no longer adequately protect riverside communities in Madera and Merced counties from flooding, officials say. "We would probably use a lot of sandbags in trouble spots" if the river overflows, "but we may need to talk about raising levees at some point," said Reggie Hill of the Lower San Joaquin Levee District. Chris Gray of the Army Corps of Engineers said that "we are aware of the land subsidence. We are going to meet with the agencies involved in the coming weeks." The Fresno Bee (Calif.) (free registration) (1/18) LinkedInFacebookTwitterEmail this Story
  Policy and Law 
  • Gun owners would have to carry liability insurance under Mass. bill
    Massachusetts state Rep. David Linsky has introduced legislation that would make liability insurance a requirement for gun owners. The proposal is a "comprehensive effort to reduce all types of gun violence," Linsky said. The measure is a "novel proposal," said PCI's Frank O'Brien, adding that it's unclear whether any other states have such a requirement and whether any insurers provide the type of coverage that the bill would require. PropertyCasualty360 (1/21) LinkedInFacebookTwitterEmail this Story
  Association News 
  • Taavo Godtfredsen to highlight PCI's Human Resources Conference
    Taavo Godtfredsen, executive producer, SkillSoft's Leadership Development Channel, is one of several key industry speakers highlighting the 2013 PCI Human Resources Conference, from April 21 to 24 in Boston. During his presentation, he will describe the four most important leadership practices needed for success today. LinkedInFacebookTwitterEmail this Story
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--W.C. Fields,
American comedian, actor and writer

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