People The National Association of Professional Insurance Agents (PIA) has announced the promotion of Mike Becker to director of federal affairs. Since joining PIA, Becker has managed the day-to-day responsibilities associated with running the Professional Insurance Agents Political Action Committee, …
It Figures
1% The amount of insurance policy surcharge the Florida Cabinet voted to extend to cover hurricane claims that began in 2007 for two additional years through 2014. The assessment covers outstanding claims that originated during the state’s devastating 2004 and …
Business Moves
South Carolina Medical Association The South Carolina Medical Association has launched its new subsidiary, the South Carolina Physician Assurance Co. The new insurance company will provide medical malpractice coverage to qualifying physicians who are members of the SCMA. Physician Assurance …
Nationwide, Allstate Grab State Farm Policies in Miss.
Nationwide and Allstate will insure homes along the Mississippi coast where the current insurer decided not to renew policies, officials said. The State Farm Insurance action involves 892 policies within 1,000 feet of Mississippi Gulf Coast waters, an area devastated …
Insured Property Value in Coastal States to Double in 10 Years
In the past three years, the insured value of properties in coastal areas of the United States continued to grow at a compound annual growth rate of just over 7 percent, according to a new report released by AIR Worldwide …
The Spitzer Error
Liberty Mutual downplayed its recent victory when the New York Supreme Court declared that contingent commission agreements are not illegal. “Contingent commission agreements between brokers and insurers are not illegal, and, in the absence of a special relationship between the …
Declarations
Picking Up Non-Renewals “I feel confident that the people on the Gulf Coast that have been canceled by State Farm will be able to buy insurance from Allstate and Nationwide and others that I have not announced.” —Mississippi Insurance Commissioner …
Public Adjusters Take the Heat for Reopened Hurricane Claims
Public adjusters are being blamed for thousands of unresolved insurance claims in Florida dating back to the 2004 and 2005 hurricane seasons. A Florida task force monitoring how state-backed Citizens Property Insurance Corp. has handled its claims suggests solicitations by …
Tennessee to Register Scrap Metal Dealers
Tennessee’s Department of Commerce and Insurance will be promulgating rules for a scrap metal marking system, uniform terminology to describe the metals most commonly sold as scrap and a system for registering scrap metal dealers. The new law, which aims …
West Va.’s Open Workers’ Comp Market Attracts 24 New Carriers
All of West Virginia employers, other than governmental entities, on July 1 gained the advantage of being able to shop their workers’ compensation coverage among carriers in a competitive market. Insurance Commissioner Jane L. Cline said all indications are that …
