Inadequate ITV is not just a problem for the insurance industry – it also can be detrimental to policyholders. When underwriting for commercial properties, insurers need to obtain accurate insurance-to-value (ITV) calculations so they can charge the right premiums for …
Fraud Roundup Two Elk Grove, Calif., residents were arrested on insurance fraud charges related to the alleged staged theft, arson, and subsequent insurance claim for a vehicle belonging to one of the suspects. According to the California Insurance Commissioner’s office, …
companies and vendors are closely monitoring agency usage in deciding whether to invest in it further. Points and clicks have the insurance industry moving faster than it ever has before. But just imagine being able to go online to receive …
Colorado wants to form consumer insurance board to advise commissioner The Colorado House has introduced a bill that would create a Consumer Insurance Board to provide policy guidance to the Commissioner of Insurance, gather and prepare information for hearings regarding …
Reduced rates and renewed competition in Calif. California workers’ compensation insurance rates are taking a turn for the better. Thanks to reform legislation, employers should have more access to reasonable rates. In fact, rates are roughly equivalent to 1995 rates, …
Seattle-based Safeco has reported its net income for the fourth quarter of 2005 was $190.7 million, compared with $179.8 million during the same period the previous year. For the full year, Safeco reported net income of $691.1 million, compared with …
Oregon has started its program to track medical errors at hospitals and determine what could have been done to prevent them. The Oregon Patient Safety Commission unanimously approved rules and guidelines for its effort to get hospitals to report serious …
The Jack Abramoff lobbying scandal in Washington, D.C., has prompted many to question the appropriateness of legislative lobbying that has become so much a part of American politics. California leads the nation in money spent for lobbying, according to a …
New Mexico considering commercial lines file and use system The National Association of Mutual Insurance Companies (NAMIC) and the insurance industry are working with the New Mexico Public Regulation Commission to finalize and implement proposed rate regulations that would convert …
To an inexperienced agent, learning the insurance industry’s ropes – and many acronyms – can be difficult. Yet there are many educational opportunities designed to coach young agents into better performers and top sellers. One such program is the National …
