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Top News
Consumer Group Knocks Flood Bill
A consumer group is criticizing legislation introduced recently that would provide retroactive flood insurance for homeowners wiped out by recent hurricanes on the Gulf Coast, as harmful to the existing program.
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ISO Updates Insured Losses From Katrina
Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to preliminary estimates by ISO’s Property Claim Services (PCS) unit.
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Aon Re Study: Significant Change Coming to Homeowners’ Market
Even before Hurricane Katrina made landfall, homeowner insurers in coastal states knew their returns were insufficient to sustain the capital required to support the growing exposure to catastrophes.
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GE Insurance Solutions Examines TRIA Consequences
In a new report, GE Insurance Solutions examines the debate over extension of the Terrorism Risk Insurance Act (TRIA) and its effect on the workers’ compensation system.
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High -Tech
Experian Launches Commercial Fraud Solution
Experian, a global information solutions company, recently launched Commercial Fraud Insight, a comprehensive fraud and authentication solution that helps companies prevent business-to-business fraud.
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AIG Offers Online Loss Benchmarking
AIG Excess Casualty, a division of American International Group, has launched an online database of claim histories designed to serve as benchmarks for particular liability types, industries, or limits.
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Features
Fraud of the Week: Oh Lord, Won’t You Steal Me, a Mercedes-Benz?
A New Jersey man was sentenced to state prison for being the leader of an auto theft trafficking network operating out of Jersey City that was allegedly responsible for stealing dozens of high-end luxury automobiles.
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Here are results from last issue’s question:
Which feature reduces the risk of fatal single-vehicle crashes by 56 percent?
a. Anti-Lock Brakes
b. Electronic Stability Control
c. Power Steering
d. Four-Wheel Drive
According to the Insurance Institute of Highway Safety, Electronic Stability Control significantly reduces single-vehicle accidents, though most readers gave anti-lock breaks the credit. Will the losing trend continue another week? Take the quiz below!
The final results were:
a. - 69%
b. - 21%
c. - 9%
d. - 1%
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