Currents for July 2006

• Vesta subsidiaries to be liquidated
• Safeco CEO: ‘We will sell to consumers in the way they want to buy’
• U.S. property/casualty industry posts record 1Q profits
• Going after unpaid claims
• Western states face mold danger despite dry climate
• ‘Adequate rate for the risk’ a big concern for industry executives
• Spokane diocese settles claims with two insurers
• Flooding in Pennsylvania destroys 518 homes
• Bid deadline for verification system looms
• Washington fines Geico $120,000 for credit-scoring violations
• Maryland tends to alcohol training
• Safeco CEO: ‘We will sell to consumers in the way they want to buy’
• Natural deposits of asbestos found in at least 20 states
• Boston’s Big Dig tragedy expected to trigger new wave of litigation
• Wind stays in ‘wind vs. water’ case, judge says
• FAIA cat team volunteers honored for helping during Hurricane Katrina
• N.Y. blasts ‘anemic’ workers’ comp anti-fraud efforts
• The virtual, global economy humbles insurance leaders
• Gov. Bush signs Florida auto insurance fraud legislation
• N.Y. lawmakers disappoint on property insurer; avoid workers’ comp reform
• Donelon orders insurers to extend hurricane claims period in Louisiana
• Csiszar tells agents major shift essential to entice carriers to Florida
• While states adopt seat belts laws, 29 still balk at motorcycle helmets
• Fire officials on edge as California fires burn; state of emergency issued for San Bernardino
• Former FEMA director promotes government-industry disaster mediation
• Mass. Fair Plan plays catch-up on reinsurance, rates
• California agency approves change in auto insurance law
• Fidelity National P/C acquires Southern Family flood policies
• It Figures
• Industry cannot ignore Hispanic buying power
• W. Va. cracking down on 2,000 employers without workers’ comp
• Former FEMA director promotes state, federal disaster mediation
• Utah board recommends traffic tickets not be reported to insurers
• Sen. Smith unveils ‘comprehensive plan’ to fix Florida’s insurance woes
• Ind. county employees learn records stolen in computer theft
• California revises proposed mileage verification regulations
• Miss. housing grants increased by 35 percent
• Ill. Attorney General sues Liberty Mutual for alleged bid-rigging
• Auto Club of SoCal reduced rates take effect in December
• Agency compensation reflects organic growth, profitability and retention
• A separate survey
• New Mexico Insurance Deputy accused of soliciting funds
• Stock option timing scandal to be felt in D&O insurance
• Former FEMA director promotes state, federal disaster mediation
• Reforms pushing California workers’ comp rates, losses down
• Big ‘I’ exec tells agents federal charter is a ‘recipe for disaster’
• Chevron to help prevent tobacco sales to minors
• Supreme Court: Workers’ comp premiums not priority in bankruptcy
• Citizens expects $3.05 B bond issue; appeal made to agents for help
• Slimmed-down SMART bill to reform surplus lines insurance regulation; brokers pledge their support
• Ga. commissioner says abolishing contingency commissions ‘a mistake’
• CEOs, concerned about capacity and pricing, stress underwriting discipline
• Lunch break
• Fraud Alerts:
• Wal-Mart to court: nix Maryland’s employee health benefit law
• Geller, McCarty collaborate on joint national catastrophe plan
• Geico defends auto rating criteria in N.J.
• Australian firm selling bogus amusement ride, P/L products in Kentucky
• Liberty expansion
• S.C. controversy erupts over raising auto limits
• Mass. agents seek 4% auto pay raise
• Washington policyholders to share in Aon settlement
• City hall suits
• Three insurers sue to recover claims paid in ’02 wildfire
• The virtual, global economy challenges, humbles insurance leaders
• Washington’s Ethel Adams legislation takes effect
• Risk mixing and matching with miscellaneous health care facilities
• Appeals Court rejects market-value loss claim
• Michigan helmet repeal legislation nixed by governor
• Golden State adopts new regulations to reduce worker injuries and death from high heat
• Industry pay increases running slightly above others
• California’s mandatory investment reporting unnecessary, insurers say
• New officers, award presentations among highlights of IIAT conference
• Appeals Court rules insurer’s indemnity obligation is joint and several
• Towing begins for thousands of cars flooded by Katrina and Rita
• Federal insurance antitrust exemption: Insurer, consumer friend or foe?
• Report not kind to FEMA regarding hurricane assistance
• California earthquake insurance rates decreasing

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