Monthly Archives: January 2013

Wildfire Risk High in 2013 Due to Warm Weather, Drought, Warn Insurers

With a mild winter, relatively warmer weather in general, and drought conditions expected to continue in 2013, the Insurance Institute for Business & Home Safety (IBHS) is urging home and business owners to take action now to effectively reduce their wildfire risk.

Wildfire losses have been on the rise during the past couple of years in several states, with Colorado, Texas and Wyoming being particularly hard hit, according to Julie Rochman, IBHS president and CEO.

“2013 is shaping up to be another very dangerous year because of a combination of weather-related factors,” Rochman said.

According to “State of the Climate,” released by the U.S. National Oceanic and
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Report: Insurers Boost California Economy $29.4B

Insurers directly contributed $29.4 billion to California’s 2010 gross state product, or for 1.6 percent of the state’s GSP, according to the report issued on Friday by the Insurance Information Network of California.

The report shows property/casualty insurers provided 209,016 California jobs in 2011. At nearly 10 percent of the nation’s insurance workforce, California employs more insurance professionals than any other state, according to IINC. California insurance jobs accounted for $19.2 billion in compensation in 2010, the report shows.

But those figures don’t not reveal the indirect impact, according to IINC spokesman Pete Moraga.

“What this doesn’t include is the countless number of jobs and other industries that are impacted by insurers,” Moraga
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California Insurance Department Approves Aftermarket Parts Regulations

1/7/2013

Published: BodyShop Business

Insurance Commissioner Dave Jones announced that the Office of Administrative Law (OAL) approved amended regulations submitted by the California Department of Insurance (CDI) regarding the use of non-original equipment manufacturer (OEM) replacement crash parts.

“The amendments build on existing protections by requiring insurers to settle automobile insurance claims using repair standards described by the Bureau of Automotive Repair, and not the insurer’s own standards of repair,” said Commissioner Jones. “This also places greater accountability on the insurer when they require use of an aftermarket replacement part so that damaged automobiles are repaired properly and safely.”

After investigating complaints from consumers and automobile repair shops and evaluating the law, CDI drew
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