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Monthly Archives: <span>September 2008</span>

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Commercial Property Market Detail: RISC brings to market a commercial property program designed for a …

U.S. Doctors Say Lawsuits Help Guarantee Drug Safety

Doctors who run one of the most influential U.S. medical journals are giving the U.S. Supreme Court some unsolicited legal advice about a major case. Lawsuits can serve as “a vital deterrent” and protect consumers if drug companies do not …

U.S. Commercial Lines Outlook Revised To Negative From Stable

Standard & Poor’s Ratings Services revised its outlook on the U.S. commercial lines property/casualty insurance sector to negative from stable. Standard & Poor’s credit analyst John Iten explained that the decision to revise the sector outlook reflects S&P’s “concern over …

U.S.-Mexico Cross Border Trucking Project Extended for Two More Years

In early August 2008, the U.S. Department of Transportation extended for two years the cross-border trucking demonstration project, a reciprocal agreement that allows up to 100 Mexico-domiciled motor carriers to operate beyond the U.S. border commercial zones, and the same …

First Insurance Co. of Hawaii Lowers First Select Homeowners Rates 8.5%

First Insurance Company of Hawaii has lowered the homeowners insurance rates in its First Select Portfolio — a package policy that combines homeowners, personal auto and personal umbrella insurance — by an average of 8.5 percent. The new lower rates …

Fires Bring Calif. to the Brink; Schwarzenegger Proposes Insurance Surcharge

Faced with hundreds of big, hard-to-control blazes, California is struggling with what could be its most expensive firefighting season ever, burning through $285 million in the past two months alone and up to $13 million a day. With the worst …

California Legislature Passes Agent-Broker Bill

California Assembly Bill 2956, which will clarify the duties of an agent versus those of a broker, has passed both the state Assembly and Senate. The bill will now be held at the Assembly desk until the state budget is …

Idaho Seatbelt Use Declines More Than 3%

Idaho’s seat belt use fell more than 3 percent during the past three years — dropping from a high of nearly 80 percent in 2006, to 78.5 percent in 2007, and to 76.9 percent this year, according to a recent …

Montana Launches Driver’s Ed/Insurance Classroom Training

Montana State Auditor John Morrison’s office has launched a new auto insurance training program for teen drivers. The program, called “The Road to Understanding Auto Insurance,” is free to high school instructors that teach driver’s education courses and will inform …

Speak Up if You Care …

The Case for Risk Management and Insurance Education If you’re like most insurance firms, your workforce is aging. Or, as a friend of mine recently put it, “There’s a lot of gray hair in the room.” Not that there’s anything …