2011 Cats Lead to Largest U.S. P&C Underwriting Loss Since 2002
By Phil Gusman, PropertyCasualty360.com
February 6, 2012
317
NU Online News Service, Feb. 6, 1:18 p.m. EST
Catastrophe losses in 2011 led to the U.S. property and casualty industry’s largest underwriting loss since 2002, and while 2012 should see a “modest improvement” in pricing, a true hard market is [...]
Property Insurance Rates Rise Across the Board in January
By Mark E. Ruquet, PropertyCasualty360.com
February 10, 2012
121
NU Online News Service, Feb. 10, 3:15 p.m. EST
Rates on commercial all-risk property policies saw across-the-board increases in January, climbing by close to 6 percent in some cases, says insurance broker Marsh.
In its “Marsh Insights: Benchmarking Trends,” Marsh says rates rose [...]
New ban on hand-held cell phones for commercial drivers
We have loss control forms to help implement this change.
Effective January 3, 2012, the Federal Motor Carrier Safety Administration (FMCSA) implemented a ban on hand-held cellular phones when driving a commercial motor vehicle (CMV) for interstate trucking.
This new regulation significantly changes the methods that all drivers can [...]
Airline Insurance Claims Drop 66%
By Mark E. Ruquet, PropertyCasualty360.com
January 26, 2012
10
NU Online News Service, Jan. 26, 12:06 p.m. EST
Airline insurance claims dropped 66 percent below 2010’s loss numbers, and pricing in the marketplace exhibited stability through the 2011-2012 renewal period, says insurance broker Aon.
In its Airline Insurance Market News report for the 2012 first quarter, [...]
Battered Luxury Liner Will Cripple Marine Insurers’ 2012 Profits
The Aftermath of the Costa Concordia Wreck
By Christina Bramlet, PropertyCasualty360.com
January 18, 2012
107
Sunday’s collision caused a 160-foot gash in the Costa Concordia’s hull and the evacuation of more than 4,200 passengers. (AP Photo/Gregorio Borgia)
As the Costa Concordia shifts on its rocky perch, search-and-rescue efforts have been temporarily [...]
Location of 2011 Cats, Rather Than Total Number, to Blame for High Losses
By Mark E. Ruquet, PropertyCasualty360.com
January 4, 2012
127
NU Online News Service, Jan. 4, 2:49 p.m. EST
It probably comes as little surprise that 2011 was significant in terms of insured losses from catastrophes, but the loss figures have less to do with the number of [...]
IRS 2012 Standard Mileage Rate Update
As of January 1, 2012, the optional standard mileage rates used to calculate the deductible costs of operating an automobile (includes cars, vans, pickups or panel trucks) for business, charitable, medical or moving purposes are as follows:
55.5 center per mile for business miles driven
23 cents per mile driven for medical [...]
SAMPLE POLICY
Inattentive Driving and the use of cellular phones and other equipment while driving
The (public Entity Name) has provided employees with certain equipment, including cellular phones, personal digital assistant (PDA) devices (i.e., “Blackberries, Palm Pilots, etc) laptop/portable computers and other equipment to assist employees in accomplishing their job duties.
When using (public Entity Name’s) [...]
CELL PHONE BAN FOR COMMERCIAL VEHICLES
Truck drivers may face personal fines up to $2,750 for using handheld phones while driving and suspension or revocation of their commercial driver licenses for repeat offenses, under a new Federal regulation to be published in the Federal Register. The ban will take effect 30 days after it is published [...]
Insuring Reality Show Risks From Stapling Body Parts to Staircases
By Chad Hemenway, PropertyCasualty360.com
December 21, 2011
29
NU Online News Service, Dec. 21, 2:00 p.m. EST
When Stephen Gilchrist Glover, better known as Steve-O of “Jackass” fame, wanted to staple his private parts to his leg during the taping of his own show, producers called Lorrie McNaught.
McNaught, reality television [...]
