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The PIA in a press release on its website criticized RIMS’ earlier public statement that it was “disappointed” to learn some insurance brokers were reevaluating their pledge to refuse to accept certain forms of contingency fee arrangements with insurers. “In response to regulatory matters and settlement agreements, many brokers pledged to refuse to accept placement… Continue reading PIA Criticizes RIMS’ Statement on Contingency Fees

The gap in health coverage from state to state varies tremendously, according to a new study conducted by a private foundation, The Commonwealth Fund. The report ranked states on 32 indicators grouped into five categories: access, quality, potentially avoidable use of hospitals and costs of care, equity, and ability to live long and healthy lives.… Continue reading Health Coverage All Over the Map

The Big I on Tuesday testified before the House Subcommittee on Housing and Community Opportunity supporting the Flood Insurance Reform and Modernization (FIRM) Act of 2007, H.R. 1682. Tom Minkler, president of New Hampshire-based Clark-Mortenson Agency, represented the Big I at the hearing to review the legislation designed to modernize and reform the existing flood… Continue reading Flood Insurance on Everyone’s Mind: IIAA Supports House Committee in its Review

Yesterday it was announced that the Property Casualty Insurers Association (PCI) supports Florida CFO Alex Sink’s proposal to streamline the process for Floridians to qualify for insurance premium discounts after taking measures to mitigate hurricane damage. This is another move in the hurricane-prone Eastern coastal areas to reach out to those directly affected by the… Continue reading PCI Backs CFO Proposal to Streamline “My Safe Florida Home Program”

Two federal officials, Matt Jadacki, deputy inspector general for the Department of Homeland Security, or Orice Williams, director of financial markets and community investment for the U.S. Government Accountability Office, testified on Tuesday that the federal flood insurance program lacks a system to coordinate benefits with private policies. As a result the program often relies… Continue reading Lack of Data in Flood Program Inhibits Insurance Analysis

Louisiana Also Looking at Tax Breaks for HomeownersLawmakers in the Louisiana have passed two measures designed to offset the increasing costs of homeowners insurance, including one that would grant a state income tax deduction for a portion of the higher premiums. The House Ways and Means Committee amended and then approved House Bill 708 by… Continue reading Louisiana Also Looking at Tax Breaks for Homeowners

A bill signed into law on Monday has resulted in South Carolina homeowners, particularly those living on the coast, being eligible for grants and tax credits should they implement measures necessary to make their homes more wind-resistant. Gov. Mark Sanford and a group of lawmakers gathered at the Myrtle Beach Area Chamber of Commerce for… Continue reading Bill Signed in Hurricane-Prone Myrtle Beach to Grant Relief to Homeowners

According to Forbes, the least fuel-efficient car is Lamborghini’s exotic Murciélago two-door, which has an annual fueling cost of $3,505, compared with that of an extremely fuel-efficient model, the Toyota’s Prius hybrid with an annual fueling cost of $644. The Bentley Arnage sedan, Bentley Azure convertible, and Ferrari 599 GTB Fiorano coup come in at… Continue reading Speaking of Hybrids…..

The Pennsylvania Insurance Department announced that individuals who own hybrid vehicles may be eligible for a discount on their auto insurance premiums. The Insurance Department approved GEICO’s filing to offer a 5% discount to policyholders with hybrid vehicle; Farmers and Travelers had also filed for the offering of a similar discount. “I’m delighted to see… Continue reading Hybrid Cars May Qualify for Premium Discounts in Pennsylvania

A.M. Best Co. has affirmed the financial strength ratings (FSR) of A (Excellent) and the issuer credit ratings (ICR) of “a” of the Liberty Northwest Insurance Corporation (Liberty Northwest), North Pacific Insurance Company (North Pacific) and Oregon Automobile Insurance Company (Oregon Automobile) as each company joined the Liberty Insurance Holdings (Keene, NH) pool as 100%… Continue reading Further A.M. Best Ratings Announced