Exec: Brokers can take part in promoting telematics to customers | Tenn. officials report fewer traffic deaths so far in 2013 | FEMA advisory flood-elevation requirements get N.J. approval
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March 27, 2013
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Higher flood insurance rates are likely, FEMA chief says
National Flood Insurance Program policyholders should prepare for major rate increases over the next three to four years, says Craig Fugate, head of the Federal Emergency Management Agency. Fugate made his remarks at the National Hurricane Conference, where Richard Knabb of the National Hurricane Center said tropical-weather forecasts may expand to five-day outlooks. "We know you have a need to know the formation potential beyond two days," Knabb said. The Washington Post/The Associated Press (3/26), The Palm Beach Post (Fla.) (3/26)
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Industry News
Exec: Brokers can take part in promoting telematics to customers
Brokers and agents can help auto insurers promote the adoption of usage-based insurance among customers, says Basil Enan, CEO of CoverHound. "Customers are going to be demanding this, and we as the intermediary are in the conversation with our carriers to make sure they react a little more quickly than they normally could," Enan says. InsuranceTech.com (3/26)
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Other News
Catastrophic Risk
FEMA advisory flood-elevation requirements get N.J. approval
New Jersey has approved advisory flood-elevation maps from the Federal Emergency Management Agency for rebuilding after Hurricane Sandy. "Even as we attempt to expedite the refinement of FEMA maps we believe are too aggressive, we had to ensure there were standards in place for people who are rebuilding now to build stronger and safer," said Michael Drewniak, a spokesman for Gov. Chris Christie. The Star-Ledger (Newark, N.J.) (3/27)
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N.D. National Guard is gearing up for spring flooding
The North Dakota National Guard has been preparing for spring flooding, with more than 2,000 soldiers and airmen ready to assist the state's flood-control efforts, commander Dave Sprynczynatyk says. The state's National Guard has outlined the worst-case scenarios and plans to account for all of its flood-protection equipment and supplies, Sprynczynatyk said. The Forum (Fargo, N.D.-Moorhead, Minn.) (free registration)/The Associated Press (3/26)
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Wildfire-control bill gets Neb. governor's support
A proposal to use $1.7 million for wildfire-control efforts in Nebraska has the support of Gov. Dave Heineman. "I believe this should be a very high priority for the state," Heineman said. Omaha World-Herald (Neb.) (3/27)
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Corps of Engineers OKs $42.9M in fixes for Mont. dam
The Army Corps of Engineers has approved about $42.9 million worth of projects to fix the Fort Peck Dam along the Missouri River in Montana. The structure was damaged by flooding in 2011. The efforts are among more than 100 projects intended to fortify the flood-protection system along the river. Billings Gazette (Mont.) (3/27)
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Policy and Law
Challenges await TRIA-extension bill, lawyers say
A bill aimed at extending the Terrorism Risk Insurance Act may be unlikely to "get sufficient attention in Congress over the coming months," say John Dearie Jr. and Brian Green of Edwards Wildman Palmer. "It would obviously be very helpful for both insurers and policyholders if Congress decides this year what to do about TRIA so that one-year policies issued as of Jan. 1, 2014, can properly address TRIA," Dearie and Green say. "... Although the recently proposed bill did not change any of the program's terms beyond extending it through 2019, we anticipate that other bills will include substantive changes to the program." Insurance Journal (3/26)
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N.Y. proposal would add penalties for cellphone use behind the wheel
New York's proposed budget includes provisions that would raise fines for motorists who use their cellphones to send text messages or make calls while behind the wheel. "It's the law, and people have to follow the law, and if they don't follow the law, I think we have to do something to impress upon them that it's the wrong thing to do," Assembly Transportation Committee Chairman David Gantt says. Poughkeepsie Journal (N.Y.) (3/27)
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To know oneself, one should assert oneself."
-- Albert Camus,
French author, journalist and philosopher
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