Obama Health Secretary Keeps Pressure on Health Insurers
Health and Human Services Secretary Kathleen Sebelius ratcheted up the pressure on health insurance companies Wednesday, urging them to forgo short-term profits to make coverage more affordable …
Maine Plaintiffs Lose Ruling in Light Cigarette Lawsuit
Smokers suing Philip Morris and its parent company over light cigarettes will have to start from scratch with their lawsuit in Maine.
A federal judge in Bangor has denied plaintiffs' request to …
Florida Insurers Pin Hopes on Broad Bill Passed by Senate Panel
With the prospects for a controversial rate deregulation bill dimmed by Gov. Charlie Crist's threat of a veto, the insurance industry is betting on a new wide-ranging insurance proposal to bring …
Prepare for Earthquakes
California residents are the weakest link in earthquake preparedness and more than 60 percent have not done enough to make their homes safer and guard their personal finances, according to a newly released study. The California Earthquake Preparedness Survey conducted by the University of California Los Angeles School of Public Health for the state Emergency Management Agency found that many California residents have taken the easy route to prepare for a large-scale quake, by collecting supplies and making back-up copies of important documents. However, they have not taken additional steps to prepare such as securing the contents of their home or purchasing earthquake insurance. Key takeaways of the study include: fewer than 20 percent of households have structurally reinforced their homes or had their homes inspected for earthquake resistance; fewer than 20 percent of Californians have purchased earthquake insurance; only 40 percent keep the recommended minimum of three gallons of water stored per person; only 40 percent of Californians have made family disaster plans. A press release quotes Secretary Matthew Bettenhausen of the California EMA: “The recent earthquakes in Chile and Haiti are unwelcome reminders of the devastating impact earthquakes can have on people and communities. It calls attention to the need for Californians to do even more to prepare for the big one.” Check out a March 8 article in the Sacramento Business Journal for more on this story. An I.I.I. brief explains how California residents can purchase earthquake insurance from the California Earthquake Authority (CEA). Check out the I.I.I. online publication Firm Foundation to see how insurers support the California economy and I.I.I. facts and stats on earthquakes.
Hard-up travellers warned against skipping insurance
According to new research from Aviva, the torrid weather of winter has fuelled an understandable desire to holiday abroad.
However, the insurer has discovered that, worryingly, the ongoing economic difficulty and consumer belt-tightening has led 31% of would-be travellers to state they intend to skip taking out travel insurance or were considering going without it.
Sixty-two percent of travellers have said they intend to set careful limits on daily spending, with over 40% not spending anything on holiday clothes or going self-catering.
Aviva’s travel product manager, Jerry Finch, has explained that a combination of prolonged bad weather and economic difficulty means that many want to fly off somewhere hot, but are less enamoured with the costs involved, including insurance.
Finch warned that insurance is critical as a shield against a hefty financial hit, and pointed out that the EHIC is no substitute for proper travel insurance within Europe.
Yesterday Direct Travel Insurance called on football fans heading off to South Africa for the World Cup to make sure they travelled with insurance, and to take it out as early as possible to ensure cancellation coverage was in place.
Zurich appoints APME CFO
Zurich Financial Services Group has announced the appointment of Pascal Perritaz as the new chief financial officer of the Asia-Pacific and Middle East (APME) region.
He has been with the firm for the last 14 years, and has held a number of senior posts within the global corporate business in Europe.
Since 2008 he has worked as global operations manager at Zurich’s Corporate Center.
Perritaz succeeds the incumbent CFO, Iain Howie, who leaves the post to become chief financial officer of Zurich Austrialia, on 1 April 2010.
In his new post Perritaz will be tasked with ensuring that APME operations are properly co-ordinated and managed.
He will work in Zurich, Switzerland, and be directly responsible to Chairman of Global Corporate and Chief Executive Officer of APME Geoff Riddell.
Federal Study of Fatal 2007 South Carolina Sofa Store Fire Not Ready
A complex federal study of a fire that killed nine South Carolina firefighters, already delayed by months, is still months from completion, authorities said.
The National Institute of Standards …
Connecticut Underwriters Hires Valencia
E&S brokerage firm Connecticut Underwriters has named Darren Valencia as director of its professional lines business.
Valencia has 10 years of experience underwriting and brokering …
Today’s OpEds: Congressional Dealmaking, Cutting ‘Honchos Pay,’ Controlling Costs
Congressional Deals: Watching The Sausage Making Politico Legislators need pork to make things happen, especially in an age when chronic obstruction has so weakened the legislative process that policy breakthroughs are almost impossible. This does not excuse all kinds of deal making, nor should we ignore that deals sometimes go too far (Julian E. Zelizer, 3/10)…
Mondial seals extreme sports travel deal with Dogtag
Mondial appointed by Dogtag to provide travel solutions