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March 21, 2012
News for property casualty insurers

  Top Story 
 
  • NAIC's function may be in spotlight at summit on regulatory overhaul
    The National Association of Insurance Commissioners is expected to be among the topics during a summit on regulatory issues today in Washington, D.C. The NAIC has received a letter from Rep. Ed Royce, R-Calif., who asked for specific details about how the group is organized. NAIC's response, however, is yet to be finalized because the group had been focusing on its tri-annual meeting, CEO Terri Vaughan said. LifeHealthPro (3/20) LinkedInFacebookTwitterEmail this Story
Combat fraud and improve pricing accuracy.
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  Industry News 
 
  • Many firms never recovered supply-chain loss claims, survey finds
    About half of risk managers with a loss in the past five years said their organizations have recovered no supply-chain or related loss claims, according to a Dempsey Partners survey. Many respondents also said that the requirement for business-interruption value reporting under their insurance policies was clearly explained, but 46% said insurers gave inadequate explanations of the data needed for underwriting supply-chain risks, the survey found. PropertyCasualty360 (3/20) LinkedInFacebookTwitterEmail this Story
Get with the flow. How payment processing affects cash flow.
Cash flow is the lubricant of business. Without a healthy cash flow, business dries up. It stops. It can't function. Which is why it is vital to keep the revenues coming in as the expenses go out. But there's one aspect of cash flow that many of us are not aware of. It is how managing credit cards and other such non-cash payments affect cash flow. Turns out it has a huge affect. Download the free guide today.
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  Catastrophic Risk 
  • La. authority to decide on hurricane-protection plan
    Louisiana's Coastal Protection and Restoration Authority is scheduled to vote today on a state plan designed to provide hurricane protection and restore coastal areas. The plan has been revised to make a priority of protecting areas including the West Bank of the Mississippi River. It also will be submitted to the Legislature for approval. The Times-Picayune (New Orleans) (3/20) LinkedInFacebookTwitterEmail this Story
  • Editorial: Iowa would benefit from disaster-mitigation bill
    An Iowa measure that would enable disaster-struck communities such as Cedar Rapids to receive funding for catastrophe-mitigation projects is a good investment for the state, according to this editorial. "Carving $30 million from a $6 billion-plus budget is relatively modest and should be doable when you're talking about protecting investments and infrastructure around the state worth many times the price of this legislation," the editorial argues. The Gazette (Cedar Rapids-Marion, Iowa) (3/21) LinkedInFacebookTwitterEmail this Story
  • Flood-hit N.D. county seeks state grant
    North Dakota's Ward County and cities including Minot are seeking about $36.6 million in infrastructure grant funds from the state Department of Trust Lands. The funds would be used for the repair of flood-damaged levees, the reimbursement of damage costs incurred by homeowners, and other efforts. Minot Daily News (N.D.) (3/21) LinkedInFacebookTwitterEmail this Story
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  Featured Content 
 

  Policy and Law 
  • Mass. high court: Current pay must be basis for disability benefits
    The Massachusetts Supreme Court has overturned a lower court's decision stating that a worker's permanent total disability benefits should be based on the salary he received when he suffered the injury. The high court said the employee's benefits should be based on his salary in his most recent job, which is in Connecticut. "As a measure of earning capacity, it matters not whether the wages are earned in Massachusetts or outside Massachusetts. The words of [Massachusetts workers' comp law] are plain and unambiguous," the high court ruled. Business Insurance (tiered subscription model) (3/20) LinkedInFacebookTwitterEmail this Story
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  Association News 
  • Aaron Zandy to speak at PCI's Human Resources Conference
    Aaron Zandy, board-certified specialist in labor and employment law, is one of several key speakers scheduled to present at the PCI Human Resources Conference, from April 15 to 18 in Clearwater, Fla. His presentation will update labor, employment and human resource law and what companies need to do to prepare for the year ahead. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
It is useless for the sheep to pass resolutions in favor of vegetarianism while the wolf remains of a different opinion."
--William Ralph Inge,
British author, priest and educator


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