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Latest Insurance News - May 24 2008

May 24, 2008

Insurance Information Institute & American Insurance Association News

Hurricane Season Countdown
With just a week to go before the start of the 2008 hurricane season, the headlines point to the potentially deadly combination of an active season and a lack of preparedness. First, the National Oceanic and Atmospheric Administration (NOAA) yesterday predicted an active season, with 12 to 16 named storms, six to nine of which […]

Preparing for Disaster
With just over two weeks to go before the start of the 2008 hurricane season, and with tornadoes and wildfires inflicting damage across the U.S., the news that nearly half of U.S. consumers are insufficiently prepared ? in terms of their insurance coverage ? to deal with potential losses is a concern. The survey by […]

Tornado Toll
With at least 22 deaths after tornadoes hit Missouri, Oklahoma and Georgia over the weekend, more people have lost their lives so far in 2008 from tornadoes in the U.S. than in all of 2007. That?s the key stat from senior meteorologist Stu Ostro over at The Weather Channel blog. Ostro makes the point that […]

ID Theft Legal Action
You may well have read the fascinating tale�of the CEO of identity theft protection company LifeLock, himself a victim of ID theft, who is now facing legal action from customers claiming that the company?s services did not work as advertised. According to a May 22 Associated Press article, LifeLock CEO Todd Davis had dared criminals […]

Driving While Distracted (DWD)
Even though 98 percent of Americans claim to be safe drivers, nearly three-quarters (72 percent) admit to engaging in some kind of distracting behavior while driving, from cell phone use to eating. The apparently contradictory finding comes in the second annual DWD study from Nationwide Insurance. While technological advances have improved driving safety in many […]

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AIA Calls For P-C Insurance Exemption In Any New York Security Freeze Bill
Any security freeze legislation put forth in New York should include an exemption for property-casualty insurers, according to the American Insurance Association (AIA).

Flawed Florida Credit Rule Rejection Is Good News for Consumers and Insurers,…
ATLANTA, Jan. 3, 2007 - The American Insurance Association (AIA) today praised a ruling by a Florida Administrative Law Judge that unequivocally rejected the Office of Insurance Regulation?s (OIR) rule regarding insurer use of credit information.

Commercial Insurance News

Managing Emerging Risks
A new report from Lloyd’s and the Economist Intelligence Unit titled Directors in the Dock: Is Business Facing a Liability Crisis? reveals that boards could make better use of the time they spend on liability and litigation issues by switching their focus to emerging risks. Many executives interviewed for the report admit that there has […]

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