The Workers’ Compensation Insurance Rating Bureau of California’s Governing Committee has decided, again, not to make a mid-year rate filing for a pure premium rate increase – even though its data shows there is about 40 percent rate inadequacy in …
A Bomb on Every Floor “It truly was like a bomb went off almost on every floor.” —Gary Pulsipher, chief executive at St. John’s Regional Medical Center in Joplin, Mo., describes the damage caused to the nine-story hospital that was …
Many of the states hammered by what’s already the deadliest year for tornadoes in more than half a century have among the nation’s highest rates of homes without hazard insurance despite being among the most twister-prone, data analyzed by The …
Social media has become a powerful way for members of the insurance community to communicate with clients, prospects, referral sources, underwriters and colleagues. However, improper usage can result in serious consequences. At our insurance agency, we have sought to mitigate …
When people think unpleasant events are over, they remember them as being less painful or annoying than when they expect them to happen again. That is due to the power of expectation, a power that helps people brace for the …
Florida Gov. Rick Scott signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. Scott said the bill (SB 408) “strengthens Florida’s property insurance market by addressing cost drivers …
The Decision May Lead to More, Not Less, Litigation, However In the wake of Hurricanes Rita, Dolly and Ike, and the inevitable ensuing litigation, many arguments over appraisal provisions surfaced. Most property policies include some form of an appraisal provision, …
The Securities and Exchange Commission last month charged six executives of Kansas-based Brooke Corp. and its subsidiaries with hiding critical information from investors and conducting financial fraud. The SEC says five executives have agreed to settle the charges that were …
A major overhaul of the state’s costly workers’ compensation system failed in the Illinois House on May 29, raising the possibility that lawmakers would push to entirely abolish a system that handles tens of thousands of cases each year. The …
FAIA President Jeff Grady on Property Insurance Reform, Effects of RMS Model, Citizens For those in the industry, Florida’s recent legislative session was a long march as they tried to navigate through a process that initially promised much in the …
