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  Top Story 
  • Groups applaud passage of Medicare Secondary Payer legislation
    President Barack Obama is expected to sign legislation intended to streamline requirements for insurers' repayments to Medicare. The bill recently received Senate approval, and insurer groups lauded its passage. "This is a major victory for the property and casualty industry," PCI's Tom Litjen said, adding that "Medicare beneficiaries, taxpayers, and insurers will all benefit from the improvements in the reporting requirements in the Medicare Secondary Payer system." PropertyCasualty360 (12/26) LinkedInFacebookTwitterEmail this Story
  Industry News 
  • Experts: External market data keeps insurers on top of pricing cycle
    Insurers need internal price monitors to stay abreast of the pricing cycle and their competition, and accurate external-market information from surveys and analysts' expectations can be used to supplement price monitoring, write John Buchanan and Joe Izzo of ISO. External market information, however, requires an "accurate 'skill' assessment against real data" to understand "how much weight to give both the various backward and forward-looking indications," Buchanan and Izzo write. "... Each of these assessments is critical to determine a carrier's position in the pricing cycle." Insurance Journal (12/26) LinkedInFacebookTwitterEmail this Story
  Catastrophic Risk 
  • N.J. agencies differ over responsibility for earthen barrier
    The failure of an earthen barrier along the Hackensack River in New Jersey resulted in widespread property damage in several municipalities when Hurricane Sandy hit. Local and state agencies, however, differ regarding who holds responsibility for such barriers or whether the structures are meant to offer flood protection. "This is not a witch hunt; we are not blaming everyone. We need information so we can lobby to make changes that need to be done so this never happens again," Little Ferry Mayor Mauro Raguseo said. Times Leader (Wilkes-Barre, Pa.)/The Associated Press (12/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Policy and Law 
  • Auto insurers to push for regulatory overhaul in N.C.
    Insurers in North Carolina say they intend to push for a revamp of the auto insurance regulatory system next year because the system brings down average coverage costs at the expense of motorists with sound driving records. "It's great to throw out the statistic that our prices are the lowest in the country, but why? Rates are being suppressed. There are a number of drivers who are not adequately assessed at the rates that they should be paying. It is not fair to subsidize somebody else's bad driving," PCI's Oyango Snell said. Star-News (Wilmington, N.C.)/The Associated Press (12/26) LinkedInFacebookTwitterEmail this Story
  • Utah governor appoints new insurance commissioner
    Utah Gov. Gary Herbert has appointed Todd Kiser as insurance commissioner. Kiser, who has served five terms in the Utah House, will succeed Neal Gooch, who will retire next month. "With his professional expertise and legislative experience, Todd will provide the right balance of technical understanding and policy insight," Herbert said in a statement. PropertyCasualty360 (12/26) LinkedInFacebookTwitterEmail this Story
  • NTSB, AAA back ignition interlocks for all drunken-driving offenders
    The National Transportation Safety Board and AAA say ignition interlocks should be required for all motorists convicted of drunken driving. A majority of people polled by the AAA Foundation for Traffic Safety said they back such tougher requirements, AAA chief Robert Darblenet said. "Evidence clearly shows that [ignition interlock devices] are more effective than other methods at reducing re-arrest among convicted drunk drivers and keeping them off the road," Darblenet said. Insurance Networking News (12/26) LinkedInFacebookTwitterEmail this Story
  • Other News
  Association News 
  • Peter Francese to keynote PCI's Marketing & Underwriting Professionals Seminar
    Peter Francese, founder of American Demographics magazine, is scheduled to speak at the 2013 PCI Joint Marketing & Underwriting Professionals Seminar, from April 28 to 30 in Fort Lauderdale, Fla. During his presentation, he will offer findings on recent demographic shifts affecting both the aging and younger population and their impact on businesses today. He will also participate in a breakout session addressing changing demographics. LinkedInFacebookTwitterEmail this Story
 
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  SmartQuote 
People who lean on logic and philosophy and rational exposition end by starving the best part of the mind."
--William Butler Yeats,
Irish poet and playwright


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