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February 12, 2013

  Top Story 
  • 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) LinkedInFacebookTwitterEmail this Story
Want big bucks for your company?
You want to sell your business, and you want to ensure that you get the best possible price. By taking 7 simple steps, you can dramatically improve your chances of attracting buyers and getting big bucks for your business. Read the article and learn the 7 steps.

  Industry News 
 
  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
  • Other News
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Catastrophic Risk 
 
  • 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. LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
  • 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) LinkedInFacebookTwitterEmail this Story
What's hiding in your data silos? Maybe organized crime.
Organized crime sees plenty of opportunities in insurance fraud. They go where the money is, and there's billions to be made here. In this paper, Chris Swecker, a former FBI agent and Head of Security for Bank of America, goes over the steps insurance companies should take to protect their data - and themselves.

  Policy and Law 
  Association News 
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  SmartQuote 
We spend our time searching for security and hate it when we get it."
--John Steinbeck,
American author


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