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- MarketScout: Soft market may be winding down
MarketScout, the Dallas-based electronic insurance exchange, has observed a trend that may portend the end of the lag in the commercial property and casualty market. The sector's drop below rate adequacy in Q4 2008 may have signaled the end of market softness, said MarketScout CEO Richard Kerr, adding that it could take another year for rates to begin a strong rebound. Business Insurance
(1/7)      
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- Oregon teens snub ban on cell phone use while driving
Oregon's ban on teen cell phone use while driving is so hard to enforce that only a few tickets have been written statewide since the law went into effect last year. Officials say law enforcement personnel can cite 16- and 17-year-old drivers for cell use as a secondary violation subsequent to some other infraction. Teens tend to ignore the legislation. FoxNews.com/The Associated Press
(1/8)
- Detroit crashes blamed on ice storm, not cutbacks
The flurry of traffic accidents on Detroit freeways earlier this week was caused by an intense ice storm, not by Michigan's cost-saving measures, according to state officials. "Because of rising costs and declining revenues, we recently instructed county road commissions to try and cut back on overtime, mainly by concentrating on the freeways and less on secondary roads during major storms. But for every snowstorm there is a flexibility built into the policy," said Rob Morosi, a spokesman for the state's Department of Transportation. The Detroit News
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- Analysts: Title insurance business may drop in 2009
New York-based financial services firm Keefe, Bruyette & Woods projects a 1.3% decline to $1.8 trillion in title insurance's mortgage market this year over 2008. The company's new report also states that the federal government's actions have driven down mortgage rates, causing an increase in title insurance applications. PropertyCasualty360.com
(1/7)
- Texas and USAA compromise on homeowners' insurance rates
Jerry Hagins, a spokesman for the Texas Department of Insurance, said San Antonio-based USAA has reworked some of its proposed rate hikes and come up with more palatable numbers. The firm had set an 8% average increase for the state late last year, but several areas would have experienced drastic increases -- as high as 50%. After some urging from the state, the insurance company recalculated and asked for a 16.3% average increase for the Houston area. Houston Chronicle/San Antonio Express-News
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- 10 tips for a powerful presentation
What's in a killer presentation? Steve Tobak identifies 10 strategies for making a good impression, including building a storyboard around a central pitch and breaking the ice with something amusing but relevant. Oh, and please stop standing in front of the screen. BNET/The Corner Office blog
(12/22)
| NAMIC News | | |
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- California earthquake would accelerate U.S. mortgage meltdown
In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to U.S. and international financiers, according to an analysis released Jan. 5 by Impact Forecasting, a division of Aon Benfield, the world's premier reinsurance intermediary and capital adviser.
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- Florida task force outlines Citizens reform recommendations
A task force recommended that Citizens, Florida's insurer of last resort, limit its rate hikes to a maximum average of 10% statewide, no more than 15% in specific regions, and capping overall increases at 25% to accommodate coastal property owners who would likely see higher premiums. The panel stated its desire to have agents and homeowners verify they are unable to find private coverage at no more than 15% above Citizens' rates before applying for the last-resort option. The Miami Herald (free registration)
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