Most Clicked PCI SmartBrief Stories
1. P/C rates will rise by midyear, say analysts
PCI SmartBrief | Jan 06, 2009
Property and casualty insurers, faced with a 20% loss in investment revenue in the fourth quarter of 2008, will need to raise premiums by the middle of the year to firm up the market. The industry segment was heavily invested in high-quality corporate instruments and municipal bonds, both of which experienced dramatic drops that affected investors, say analysts. National Underwriter (free registration) (01/05)
2. Report: Premiums for commercial insurance likely headed up
PCI SmartBrief | Jan 02, 2009
Although the worldwide economic slowdown is likely to drive down the demand for commercial insurance in the coming months, premiums are expected to rise by the fourth quarter or the first quarter of 2010. Underwriting losses and lackluster returns are the reason, according to a report by Advisen. FinancialWeek (12/31)
3. Aon tells insurers what to watch out for in 2009
PCI SmartBrief | Jan 05, 2009
Insurance broker Aon has identified five areas that insurers should watch out for in 2009. Higher claims costs, an increase in economically driven fraud, unexpected risk exposures, wider environmental pollution claims, and terrorism and piracy top will be the top issues this year. National Underwriter (free registration) (01/02)
4. College students get interested in risk-management, insurance careers
PCI SmartBrief | Jan 05, 2009
Insurance and risk management are assuming greater weight in college-level business courses. Institutions of higher learning are capitalizing on the current global economic turmoil to reinforce the need for better risk-management skills. Actuarial science, insurance, and risk management have become more attractive career paths for current students. Business Insurance (01/05)
5. NFIP changes, FTC demands top P/C insurers' 2009 concerns
PCI SmartBrief | Jan 05, 2009
Property and casualty insurers are set to present the incoming Congress with several action items. Chief among them are renewed authorization of the National Flood Insurance Program and the FTC's inquiry into the industry's credit-based premium rates. National Underwriter (free registration) (01/02)
6. Texas high court: Car insurance only covers you in the car
PCI SmartBrief | Dec 31, 2008
The Supreme Court of Texas said Louis Goudeau, a "good Samaritan" who got run over on the Sam Houston Tollway, was not covered by his auto insurance when he left his vehicle to help an accident victim. The court said the insurance policy covered only vehicle occupants. Southeast Texas Record (Beaumont), The (12/30)
7. Report: More than 50% of U.S. cyclists flout helmet safety data
PCI SmartBrief | Jan 06, 2009
More than half of U.S. bicyclists ride without a helmet, despite data from the Insurance Institute for Highway Safety showing 92% of bicyclists killed in 2007 were not wearing helmets. This was one finding in Consumer Reports National Research Center's report released Monday, which also found Americans neglect to unplug toasters and other appliances even though doing so can lead to fires. Reuters (01/06)
8. Missouri requires insurance coverage that isn't even sold in the state
PCI SmartBrief | Jan 05, 2009
Missouri residents who want to feed their excess green-generated electricity into the state grid are required by the Missouri Public Service Commission to carry insurance. According to the new legislation, production of 10 kilowatts or less requires $100,000 of liability insurance, while generation above 10 kilowatts requires $1 million of coverage. The problem is no insurer in the state offers the required coverage. Columbia Missourian (01/03)
9. Opinion: U.S. unemployment coverage antiquated
PCI SmartBrief | Jan 02, 2009
The U.S.'s unemployment compensation system was created as part of Franklin D. Roosevelt's New Deal 70 years ago. The program has not kept pace with the modern economy, paying lower benefits for a shorter period of time in comparison with European countries, according to this article. Economist, The (12/30)
10. Commissioner not sold on Georgia's new auto insurance law
PCI SmartBrief | Jan 05, 2009
Georgia Insurance Commissioner John Oxendine is wary of a new state law that offers increased coverage in accidents involving underinsured motorists. The new law provides an additional optional $5,000 in medical coverage that comes with a higher premium. Oxendine sees more coverage as a good thing but expresses reservations about consumers having to opt out of paying the higher premium instead of opting in. WSAV-TV (Savannah, Ga.) (01/02)
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Companies in the news
- ACE Limited
- ChoicePoint Inc.
- Crawford
- HSB Group
- Lexington Insurance Co
- Nissay Dowa General Insurance Co
- PartnerRe Ltd.
- SCOR