| February 12, 2013 |
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| Top Story |  |  |
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- Fla. draft bill focuses on depopulating state-backed insurer
A draft bill by the Florida Senate's Banking and Insurance Committee suggests depopulating Citizens Property Insurance and transferring policies to private carriers. The industry agrees that the state-backed insurer needs a revamp and is awaiting a final bill, PCI's Donovan Brown said. "We're taking a period to reflect and digest the proposals and see what the members' appetite is going forward," Brown said. Insurance Journal
(2/11)      
| Industry News | | |
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- P/C-sector employment rose to 525,900 in December, data show
Property/casualty insurers added workers in December to bring the sector's workforce to 525,900, the most since mid-2011, according to an analysis of Bureau of Labor Statistics data by the Insurance Information Institute. "It is not unusual for P&C carrier employment to grow in December. In the 23 Decembers starting in 1990, for example, P&C carrier employment grew 14 times, was flat twice and fell seven times," III President Robert Hartwig says. PropertyCasualty360
(2/11)
- Survey: P/C insurers to step up investments in mobile capabilities
About half of property/casualty insurance companies aim to provide customers by year-end with mobile capabilities such as reporting claims and paying bills, according to a Novarica survey. More than two-thirds of respondents also are looking to invest in mobile capabilities in the coming years, with 41% planning to let users obtain quotes and buy policies, the survey found. Insurance Networking News
(2/11)
| Catastrophic Risk | | |
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PCI offers insurance advice to avoid roof collapses as Northeast digs out from major snowstorm: Following the Northeast winter storm, PCI is urging residents to stay alert to potential hazards that could lead to ice damming and roof collapses and to seek experienced professional help in remedying problems. Read more.
- Sandy aid to N.Y., N.J. could drop with "sequestration" cuts
The automatic cuts to federal spending scheduled to take effect next month could reduce the federal aid for recovery from Hurricane Sandy in New York and New Jersey by nearly $3 billion, officials said. "None of it right now is as important as protecting the hard-won federal funding," Rep. Nita Lowey, D-N.Y., said of potential across-the-board cuts in other budget areas. New York Post
(2/12)
- N.J. Senate hearing focuses on coastal rebuilding efforts
Congress had approved $280 million prior to Hurricane Sandy for replenishing New Jersey beaches, officials with the Army Corps of Engineers said at a hearing held by a New Jersey Senate committee. Federal Sandy-relief funds provide money for a study on adjusting the replenishment projects in light of damage caused by the storm, said Lt. Col. John Becking of the Corps of Engineers. NJBIZ (New Jersey)
(2/11)
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