Monthly Archives: July 2013

Two New States to Require Climate Risk Survey; More Companies Must Now Respond

Connecticut and Minnesota regulators have decided to join California, New York and Washington in requiring insurers to respond to a survey on climate change. 

Additionally, California Insurance Commissioner Dave Jones says the survey has been expanded by requiring all companies writing more than $100 million in direct premiums to respond to the Climate Risk Survey, adopted in 2009 by the National Association of Insurance Commissioners (NAIC). The previous threshold was $300 million in direct premiums written. 

Jones says the choice to expand the survey “will double the number of companies required to respond and will give insurance regulators, investors and policyholders a better picture of how insurers are responding to climate change.” 

“It
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Prepare Your House and Finances for a Natural Disaster

You may not be as prepared as you think.

When a storm is bearing down or a wildfire or tornado is approaching, you don’t want to be thinking about all the things you should have done to protect your family, house and finances.

So with wildfires raging in parts of the West, and hurricane season in full swing, taking some crucial steps in advance—especially if you live in a region prone to natural disasters—can help you minimize any damage.

“It’s imperative to make sure you are prepared,” says Thomas Kirsch, a member of the American Red Cross Scientific Advisory Council and co-director of the Center for Refugee and Disaster
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Fourth of July is deadliest day on the road

If this Fourth of July holiday follows recent trends, about 134 people will die on U.S. roadways, according to a study by the Insurance Institute for Highway Safety.

That’s the average number of motorists killed in Independence Day traffic crashes from 2007 to 2011, the institute found in a recent study of data from the U.S. Transportation Department. That makes the summer holiday the deadliest day of the year on roadways.

“The main reason July 4 is the worst day is simply exposure,” said Russ Rader, a spokesman for the institute. “More people are driving more miles on summer days. You couple that with a holiday, and you have a higher
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Hot Spots: NICB’s Annual Report on Vehicle Theft

Des Plaines, IL—The National Insurance Crime Bureau (NICB) today released its annual Hot Spots vehicle theft report and California dominates once again. Hot Spots is a per capita review of vehicle thefts from the nation’s metropolitan statistical areas (MSA). NICB data is in line with preliminary FBI vehicle theft data for 2012 which appears to end an eight-year downward trend in vehicle theft.

Final numbers will be published by the FBI in the fall, but preliminary 2012 FBI figures estimate a 1.3 percent increase in 2012 thefts from the previous year. Not surprisingly, eight of the top 10 areas are in California with the remaining two from
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