Workers' comp model law on doctor-dispensed drugs gets nod from NCOIL | M&A activity declined among insurers last year, study finds | Lane-departure warnings may not improve road safety, IIHS says
Web Version
March 21, 2013
CONNECT WITH PCI FacebookTwitterYouTube
PCI SmartBrief

Top StorySponsored By
Workers' comp model law on doctor-dispensed drugs gets nod from NCOIL
A National Conference of Insurance Legislators panel has given conditional approval to a workers' compensation model law that seeks to use original wholesale prices as the basis for reimbursement rates for doctor-dispensed prepackaged drugs. The model law, patterned after Tennessee's approach, is expected to be amended as NCOIL seeks to include best practices from several states. "Let's base what we do on what really works," PCI's Rita Nowak said. PropertyCasualty360 (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Quarterly Small Business Leadership Report
Three industry heavy weights dish up the facts on what you need to know about the future of collaboration, increasing productivity and readying the office for the millennial workforce. Read the guide.
Industry News
M&A activity declined among insurers last year, study finds
Merger-and-acquisition activity in the insurance industry declined in 2012, a Conning study says. M&A deals dropped 19%, while aggregate deal volume declined 21%, Conning's Jerry Theodorou says. "In 2012, high levels of industry capital and limited opportunity for organic growth suggested that it should have been a very active year," Theodorou said. Insurance Networking News (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Study: Fewer Americans say altering insurance claims is OK
Nearly one-fourth of Americans said they think that padding an insurance claim to compensate for deductibles is acceptable, a sentiment that is on the decline, according to an Insurance Research Council study. "However, the fact remains that nearly 1 in 4 Americans are tolerant of claim-padding behavior that has direct implications for claim costs and the cost of insurance for consumers. Moreover, 1 in 10 believe that insurance fraud doesn't hurt anyone, indicating the need for continued public education," said Elizabeth Sprinkel of the Insurance Research Council. Insurance Networking News (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Lane-departure warnings may not improve road safety, IIHS says
Evidence is lacking that lane-departure-warning systems in vehicles are effective in helping prevent crashes, the Insurance Institute of Highway Safety says. "The data from some of the manufacturers goes the wrong way -- we see more crashes," said David Zuby, chief research officer with the group. (Michigan) (free registration) (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Catastrophic Risk
Survey: Few small firms had business-interruption insurance as Sandy hit
Many small businesses in states affected by Hurricane Sandy faced business interruptions, but most lacked insurance to cover such losses, according to a survey by The Hartford. Nearly three-fourths of those businesses experienced closures because of the storm, and they took seven days on average to reopen, according to the survey. PropertyCasualty360 (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
N.D. city prepares for river flooding this spring
Officials in Fargo, N.D., are working to prepare the city for possible flooding along the Red River this spring. Flooding this year is likely to be "in the realm of some of the big floods we've seen in the last few years," said Greg Gust of the National Weather Service. The Forum (Fargo, N.D.-Moorhead, Minn.) (free registration) (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Earthquake-recovery plan could isolate Ore. town, officials say
Officials in Medford, Ore., are considering preparations for a major earthquake as they say the state's plan could isolate the region for some time. Such an earthquake could heavily affect the south part of the state and isolate coastal areas, said Gary Leaming, spokesman for the state Transportation Department. "It will be so catastrophic. We'll be hard-pressed to get goods and services into that area for a while. It will be a regionwide crisis," Leaming said. The Oregonian (Portland)/The Associated Press (3/19)
Share: LinkedIn Twitter Facebook Google+ Email
Policy and Law
Fla. PIP law is hit by partial injunction
Florida officials intend to appeal an injunction against certain provisions of the state's new personal-injury-protection insurance law. "The appeal will stay the order" until an appeals court can rule on the matter, said Amy Bogner, spokeswoman for the Office of Insurance Regulation. "We're very disappointed," said Charles Grimsley of the Florida Property and Casualty Association. "What the law was meant to do is slow down the $1 billion PIP fraud industry." The Palm Beach Post (Fla.) (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Experts: Flood insurance costs are likely to increase
Homeowners in floodplains may see their flood insurance costs increase this year with the implementation of the Biggert-Waters Flood Insurance Reform Act, experts and observers say. The law, designed to help the National Flood Insurance Program recoup losses, will scrap the program's subsidies, increasing premiums for second homes and investment properties in areas at risk of flooding, according to this article. Star-News (Wilmington, N.C.) (3/20)
Share: LinkedIn Twitter Facebook Google+ Email
Other News
A community is like a ship; everyone ought to be prepared to take the helm."
-- Henrik Ibsen,
Norwegian playwright
Share: LinkedIn Twitter Facebook Google+ Email
Learn more about PCI ->About PCI | News Releases | Industry Issues | Seminars | Political Action
Subscriber Tools
Please contact one of our specialists for advertising opportunities, editorial inquiries, job placements, or any other questions.
Lead Editor:  Charles Tomlinson
Advertising:  Alexandra Varipapa

Download the SmartBrief App  iTunes / Android
iTunes  Android
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2013 SmartBrief, Inc.®
Privacy policy |  Legal Information