Posted by Victoria Milson | July 21, 2011

Nearly half of drivers under 35 text while driving

More than one in five drivers with cell phones send or receive text messages while driving, according to a recent survey conducted by Harris Interactive.

According to Harris, of drivers with cell phones, 22 percent say that they text message while driving. Just under half – 49 percent – of drivers under the age of 35 text while driving, while 24 percent of those aged 35-46 do so.

In the age group of 47-65, 11 percent text while driving, and only 1 percent of those over 65 years old send or receive text messages while operating a vehicle.

The overall 22 percent figure of drivers who text while driving did decline from 27 percent in 2009, Harris said.

According to the results of the survey, 60 percent of drivers with cell phones use them for some purpose while driving. This is down from 2009, Harris said, when 72 percent of respondents said that they use cell phones while driving – whether for texting or making/receiving calls.

These figures show up despite the fact that the vast majority of those surveyed know that it is dangerous to use a cell phone while driving. In the latest survey, 91 percent said they know it is unsafe to use a cell phone while driving, while 82 percent claimed to know this in 2009.

These findings “strongly suggest the need for laws to ban all cell phone use and texting while driving,” Harris said.

Harris Interactive obtained these results from an online survey conducted between June 13 and 20, 2011.

 

Posted by Victoria Milson | July 19, 2011

Ryan Specialty Introduces Newly-Formed MGA Focusing on Renewable Energy Risks

Chicago, Ryan Specialty Group, LLC introduces PER se – an MGU specializing in the energy and power sector, with a primary focus on renewable energy risks. PER se offers agents, brokers and their energy clients CAT and non-CAT property and casualty coverages for wind, solar, bio, hydro and all other forms of renewable energy power facilities. Coverage is provided for all phases of the project exposure cycle, including cargo/transit, delay in start-up, construction, machinery breakdown, business interruption, operational and other liabilities.   Michael Bernay, Managing Director and CEO of PER se, says, “PER se is a unique, independent resource for agents and brokers with clients seeking specialized energy and power insurance products and services. Tailoring programs to meet the expected demand for these products and services requires a thorough understanding of all aspects of the exposures, which our team has garnered through our long-standing relationships and over 50 years of collective experience with the largest and most innovative companies in this global industry.”   Patrick G. Ryan, Chairman, and CEO of RSG, adds, “Worldwide energy demands are expected to increase dramatically over the next 20 years. PER se’s e Read more…

Posted by Admin | July 16, 2011

Tips On Protecting Your Business

Do you know what it takes to properly protect your business? The thing that most people don’t understand is that no matter what you try to do there is always one thing you need as a business owner, liability insurance. The reason every business needs liability insurance is because in order to protect a business from claims you need to have some kind of insurance policy in force to do just that.

Get liability insurance – The very first thing that I would recommend that you do as a business owner is to get liability insurance. The biggest reason to get liability insurance is to take the risk off of you and place it on an insurance company. More and more businesses are starting to get liability insurance just to make sure a person can’t sue them when they really have no ground to. What you need to understand is that with the economy the way it is people will do almost anything to make a quick buck and that includes slipping at your business and filing a lawsuit.

Hire a lawyer – Another way you can protect your business is by getting a lawyer to look after you. Most people don’t understand how this would protect them but what you need to know is that lawyers do more than settle court cases. If you need somebody to see where you are most vulnerable then a lawyer can do that. If you wa Read more…

Posted by Victoria Milson | July 15, 2011

Alterra Announces the Formation of New $200mn CAT Reinsurance Capacity

Hamilton, Bermuda, April 6, 2011 – Alterra Capital Holdings Limited today announced the formation of New Point IV, a sidecar vehicle established to create additional capacity for the property catastrophe collateralized reinsurance marketplace.   New Point IV is being sponsored by Alterra in partnership with Stone Point Capital LLC through its private equity fund, Trident V L.P. Each of Alterra and Stone Point has committed up to $100 million to capitalize New Point IV.   Marty Becker, President and Chief Executive Officer of Alterra stated: “We are pleased to announce the formation of New Point IV in partnership with Stone Point. Given the recent series of global catastrophic events, which have had the effect of reducing the capital supporting the international property catastrophe reinsurance market, we believe that this is a very timely addition of capacity.”   “We are excited to partner with Alterra on New Point IV. We know the Alterra underwriting team well and admire their track record of strong underwriting discipline and profitability,” commented Charles A. Davis, Chief Executive Officer of Stone Point. Joh Read more…

Posted by Victoria Milson | July 11, 2011

Insurance Library Association of Boston Spring 2011 Course Schedule

The Insurance Library Association of Boston Spring 2011 Course Schedule Skip to Classes Seminars INTRO RPLU INS Licensing The Insurance Library has many courses scheduled for the next few months, including the Builders Risk Insurance and Contractual Liability Seminars with Donald Malecki, CPCU and Greg Deimling, CPCU, ARM, AMIM, CSRM on April 26, 2011.  Seats for both of these half-day seminars are going fast, so register now!  Seminars   Builders Risk Insurance Seminar This course will identify builders risk needs from the what, why, who and whose interest elements. The pros and cons of utilizing Course of Construction forms and Installation Floaters will be explored.  The instructors will lead the attendees through a comparison of three common builders risk forms: ISO, AAIS and Manuscript.  Potential coverage issues and gaps will be highlighted.  Important issues impacting builders risk coverage will be discussed with the results of pertinent recent case law: Occupancy Clause, Expenses to reduce loss, Direct Costs v. Soft Costs, When is a project deemed completed. $120 for ILAB and Boston Chapter CPCU members; $150 for non-members – CE Pending   A discounted rate is available if you register for this seminar and Nuts & Bolts of Contractual Liability at the same time. Instructors, Donald Malecki, CPCU and Gregory Deimling, CPCU, ARM, AMIM, CSRM.  Meets Tuesday, April 26, 2011 from 8:30 to 11:30 AM at Mintz Levin, 1 Financial Center, Boston, MA.     Nuts & Bolts of Contractual Liability This course will discuss three inter-related issues arising in the contractual liability context.  First, the course will provide an in-depth analysis of contractual risk transfer addressing both insurance and non-insurance techniques.  Next, the course will highlight key issues arising when a third party seeks to be added to a liability policy as an additional insured.  Finally, the course will discuss workers compensation insurance issues that have arisen for employers when seeking workers compensation coverage for those “special employer” relationships.  Understanding each of these three issues is critical to avoiding potential problems in the contractual liability context.  The instructors will also examine these topics in the context of various insurers forms and endorsements.  Potential coverage issues and gaps will be highlighted.  Important issues impacting coverage will be discussed with the results of pertinent recent case law.  $120 for ILAB and Boston Chapter CPCU members; $150 for non-members – CE Pending   A discounted rate is available if you register for this seminar and Nuts & Bolts of Contractual Liability at the same time. Instructors, Donald Malecki, CPCU and Gregory Deimling, CPCU, ARM, AMIM, CSRM.  Meets Tuesday, April 26, 2011 from 1:00 to 4:00 PM at Mintz Levin, 1 Financial Center, Boston, MA.   Improving Customer Service In our never-ending desire to incorporate automated systems into everything we do, the customer is oftentimes overlooked and personal service takes a big hit. The marketplace is very competitive and a bad customer service experience can cost your organization time and money. This course will teach you how to improve the quality of customer relationships by understanding who your internal and external customers are and knowing what they expect. Customer focused organizations concentrate their efforts delivering quality service to their customers. This course will concentrate its efforts on providing you the skills and techniques to do just that! Support staff, technicians, supervisors, managers, anyone working with risk management, the insurance and financial services industries is a candidate for this course. $310 members, $340 non-members Instructor, Joseph Sciacca. Meets Wednesday, May 4, 2011, 9:00am to 2:30pm at The Insurance Library.   Insurance for the Non-Insurance Professional Are you a professional whose work responsibilities require knowledge of the property and liability insurance mechanism? If so, this course is for you! It has been designed for attorneys, accountants, bankers, data processing professionals – anyone who has a need for insurance instruction at a high level. We shall address marketing, underwriting, claims, the effects of automation, financial statements, hard and soft markets and their causes, purposes and use of reinsurance and much more. $350 members, $380 non-members Instructor, Joseph Sciacca. Meets Thursday, May 5, 2011, from 9:00 AM to 3:00 PM at The Insurance Library.   Fundamentals of EPL: An Introduction to Employment Practices Liability Insurance $340 members, $370 non-members Instructor, Len Ryer.  Meets Friday, May 6, 2011 from 9:00 AM to 4:00 PM at The Insurance Library.   Business Income Insurance Joe will teach this comprehensive course which has been designed for the agent, underwriter, claims adjuster, marketing representative or anyone who may provide a service or advise in this greatly misunderstood area. The Business Income Coverage form, CP 00 30, will be analyzed in depth and optional coverages, such as Maximum Period of Indemnity, Monthly Limit of Indemnity, Agreed Value and Extended Period of Indemnity will be addressed. Learn how to choose an amount of insurance, how to apply the coinsurance provision, how to tailor coverage to address the prospect’s particular needs, and much more. Case studies will be used to allow you to apply what you have learned. We shall also investigate the use of Extra Expense Coverage form, CP 00 50, and determine its value and applicability. $380 members, $410 non-members Instructor, Joseph Sciacca. Meets Wednesday & Thursday, May 11 & 12, 2011, from 9:00 AM to 3:00 PM at The Insurance Library.   Introduction to Workers Compensation Insurance $340 members, $370 non-members Instructor, Lily Zatony.  Meets Friday, May 20, 2011 from 9:00 AM to 3:00 PM at The Insurance Library.   Coverage Review of the Business Auto Policy  $120 members, $150 non-members Instructor, Robert Titus, AIC. Meets Thursday, June 2, 2011 from 1:00 to 4:00 PM at The Insurance Library.   CGL Under the Magnifying Glass $340 members, $370 non-members Instructor, Lily Zatony. Meets Friday, June 3, 2011 from 9:00 AM to 3:00 PM at The Insurance Library.   Homeowners Insurance Homeowners Insurance will be explained and analyzed. Joe will review coverages and frequently used options with an eye towards explaining why they are used. Underwriters, marketing representatives, customer service representatives, claims adjusters and anyone who needs to be conversant with homeowners insurance are candidates for this course. $380 members, $410 non-members Instructor, Joseph Sciacca. Meets Wednesday & Thursday, June 8 & 9, 2011, 9:00AM to 3:00PM at The Insurance Library.   Massachusetts Commercial Automobile Insurance $380 members, $410 non-members Instructor, Lily Zatony.  Meets Thursday & Friday, June 9 & 10, 2011 from 9:00 AM to 3:00 PM at The Insurance Library.   Time Management Skills Seminar 86,400 -the number of seconds in a day. Everyone on the planet shares and manages the same amount of time. Workers who manage it well are often the most successful in their careers. Companies who encourage it usually have higher efficiency and productivity. In this 3 hour seminar we’ll identify and discuss strategies for overcoming the most common “time robbers” including procrastination, poor planning/prioritizing of tasks, lack of organization, managing interruptions, failure to delegate, and perfectionism. You should leave the seminar with a plan to improve your individual job efficiency and productivity. $120 members, $150 non-members Instructor, Herb Fuchs. Meets Wednesday, June 15, 2011 from 9:00 AM to 12:00 PM at The Insurance Library.   Workers’ Compensation: What’s the Correct Premium and Rating Plan? We’ll cover the basics of standard premium calculation including classification, experience rating, and audited payroll with the emphasis on finding errors or oversights that might be causing your clients’ premiums to be inaccurate such as improper classification, failure to apply for credit under the MA Aggravated Inequity Claim Rule or eligible Contractors Construction Credits. We’ll then examine the advantages and disadvantages of various rating plan options such as prospective, retrospective, dividend, and deductible plans. $170 members, $200 non-members Instructor, Herb Fuchs. Meets Wednesday, June 22, 2011 from 9:00 AM to 12:00 PM at The Insurance Library.   Negotiation Skills Workshop Negotiations include not only the exchange of figures but also the presentation of ideas, positions and concepts that support the figures being exchanged. Students will perform a self-assessment to learn what negotiation style they currently use and if it is best suited for their purposes. The techniques, strategies and behaviors of people identified as superior negotiators will be analyzed with an eye to adapting their best characteristics. Candidates include claims adjusters, attorneys, underwriters, producers, risk managers, customer service representatives, physical damage appraisers and others. $310 members, $340 non-members Instructor, Joseph Sciacca.  Meets Monday, June 27, 2011, 9:00AM to 2:30PM at The Insurance Library.   INTRO Classes   Introduction to Underwriting Whether you are new to insurance and underwriting or an experienced insurance person who works with underwriters but who has never understood exactly what underwriters do and why, this course will help you. You will learn the process that underwriters follow as they review applications and other requests for coverage. Numerous case studies are used to show how the process is applied. Underwriters, underwriting assistants and anyone who interacts with underwriters are candidates for this course. $400 members, $430 non-members – textbooks $77 . Instructor, Joseph Sciacca.  Meets Wednesday & Thursday, April 27 & 28, 2011, from 9:00 AM to 3:00 PM at The Insurance Library.   Introduction to Risk Management Everyone associated with the insurance discipline has some interest in risk management. Perhaps you know or work with someone who has the title “Risk Manager,” or maybe you noticed the section entitled “Risk Manager of the Year” as you perused a copy of “Business Insurance.” You may have marveled at the complexity of the tasks performed by risk managers and may even have wondered exactly what risk managers do and how they do it. If so, this course if for you. $400 members, $430 non-members - textbook $51 . Instructor, Joseph Sciacca. Meets Wednesday & Thursday, May 18 & 19, 2011, from 9:00 AM to 2:30 PM at The Insurance Library.   Introduction to Property & Liability Insurance Introduction to Property and Liability Insurance explains how various jobs in the industry inter-relate and the text gives concrete examples, anecdotes and illustrations to make the insurance business more understandable. Principles which underlie insurance are explored and some coverages are introduced. This is the perfect course to lead into the “Program in General Insurance” and is recommended for a wide range of managerial, technical and clerical personnel. Employees of insurance companies, agencies, adjusting firms, brokers, or any insurance related business are appropriate candidates. $400 members, $430 non-members – textbooks $82 Instructor, Joseph Sciacca. Meets Wednesday & Thursday, June 15 & 16, 2011, 9:00AM to 3:00PM at Hingham Mutual Insurance, 230 Beal Street, Hingham, MA.   Introduction to Claims Insurance claims offer professionals fascinating career opportunities in a fast paced, ever-changing, legally responsive work environment. This course gives students not only a view of that environment but also the skills to succeed in claim work. It covers terms related to the handling of property and liability insurance claims, how claims are processed and the relationships between claims and other insurance functions. Candidates include clerical, technical and supervisory employees with little or no claims experience and even those with experience who wish to review the basics of the claim function. $400 members, $430 non-members – textbooks $82 Instructor, Joseph Sciacca. Meets Wednesday & Thursday, June 22 & 23, 2011, 9:00AM to 3:00PM at The Insurance Library.  

Posted by Victoria Milson | July 11, 2011

III: Homeowners need to be aware of hurricane deductibles

With Tropical Storm Arlene coming to life earlier this week, homeowners in the U.S. should take time to review home insurance coverage, according to a recent report from the Insurance Information Institute (I.I.I.).

Arlene, the first named storm of the 2011 Atlantic hurricane season, serves as a reminder for homeowners to be aware of any hurricane deductibles that may be incorporated into a homeowners insurance policy, the I.I.I. said.

Home insurance policies in many coastal states in the U.S. have deductibles that vary depending on the severity of the storm.

“Due to increased coastal development and greater hurricane risk, hurricane deductibles were created to help keep private sector property insurance coverage available and affordable by having the policyholder share more of the risk with their insurer,” Loretta Worters, vice president, I.I.I., said in a statement.

Hurricane deductibles differ from standard homeowners insurance deductibles in that they are a percentage of the insured value of the covered house. Deductibles for standard home insurance coverage, on the other hand, are typically static amounts (e.g. $500).

“It’s important for homeowners to read their insurance policy, understand what coverage they have and make sure to have funds set aside to cover the deductible so they can get back to normal should a disaster strike,” Worters said.

According to the I.I.I. the follo

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Posted by Victoria Milson | July 06, 2011

CIAB: Susan Rushford named Senior Vice President of Marketing & Communications

Washington, D.C., – April 25, 2011 – The Council of Insurance Agents & Brokers announced today that Susan Rushford has been named Senior Vice President of Marketing & Communications. Rushford joins The Council after 30 years of marketing and advertising experience on both the agency and client side of the business. She has managed and supervised brand development for retail, consumer, and corporate programs including Spirit Airlines, The HMX Group, Next Day Blinds/Great Windows, and The American Physical Therapy Association. She has also developed integrated marketing and multi-lingual national public service campaigns for the U.S. Treasury, the U.S. Coast Guard, and the National Highway Transportation Safety Administration.   “Susan is an accomplished marketing and communications professional and will be a critical part of our senior management team,” said Council President Ken A. Crerar. “Her wealth of professional experience and strategic skills will be an asset to our association. We’re thrilled to have her onboard,” Crerar said.   Rushford most recently served more than three years as Account Supervisor at Siquis, Ltd., where she managed online and offline advertising and marketing efforts for Spirit Airlines and various brands within the HMX Group, and oversaw the launch of the corporate website for Ankota. Prior to her time at Siquis, Rushford spent more than three years as Account Supervisor/Director at Rosenthal Partners where she was involved in strategic direction and planning of corporate recruitment efforts. She held the sa Read more…

Posted by Mikayla Stevenson | July 05, 2011

Tips on Finding the Cheapest Car Insurance Rates

If you own a car chances are you have been looking for the cheapest car insurance rates. In all countries for all road users it is must by their law. If you visit different websites, you can find cheapest car insurance rates and also good coverage. When you are going to get more coverage in lesser amount means you are going to invest less money. If you are planning to get insurance for your car then you can start your search. Finding the Cheapest Car Insurance Rates

Every car owner should have insurance for their car because it is going to help them a lot. It is going to give you financial support in case of any damage to the car. But, one thing should be kept in mind that the type of damage should be covered in the policy. If you want to know more about it you can search for the cheapest car insurance quotes online. It really helps.

To get a complete idea about cheapest car insurance you must contact the leading insurance companies. Only leading insurance companies can be trusted as they have to keep up their reputation and maintain state minimum standards. You can call the insurance companies on their toll free number and ask them for further discount. Most of the insurance companies offer common discount. Let me tell you about discounts like owning a hybrid car can save 10% on insurance rates. Nowadays it is not hard to find a car insurance broker.

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