Cavalcade of Risk, No. 145 - Insurance Fest

David Williams hosts the latest edition of the Cavalcade of Risk, a round-up of risk-related articles, with an emphasis on insurance as a risk management tool.

The Cavalcade of Risk is a biweekly rotating collection of articles and links (also known as a "blog carnival") from insurance and other risk-related sources that provides some great information and insight about risk management.

Check out the 145th edition of the Cavalcade of Risk here.

UPDATE: The emphasis on insurance in the latest edition of the Cavalcade of Risk deserves a little more attention. Here is a sample of a few of the articles featured in the 145th edition of the Cavalcade of Risk:

• Nina Kallen of Insurance Coverage Law in Massachusetts reminds us again that both individuals and business should keep copies of their insurance policies – and keep them forever:

  Don't just keep your most recent policy. Keep all of them. For decades. Forever. If you have an occurrence-based policy and get hit with a Superfund suit -- say a property you owned for five years in the early 1990's has been discovered to be a site of toxic waste -- there might or might not be coverage under policies issued for each year that you owned the property. If the policies differed from one year to another, even if issued by the same insurer, there may be coverage under one year but not others.
  
  Chances are that if the policies were issued not too long ago the insurer can, eventually, provide or recreate a copy. But at some point old documentation, especially but not exclusively from before the advent of computers, is lost. Insureds have the burden of proving coverage under a policy. The easiest way to do that is to provide the court with a copy of the policy...

  Read more here.
  
• Insurance Claims and Issues has an excellent overview of the "deal" that the health insurance industry made with the White House on the Patient Protection and Affordable Care Act legislation. However, the main consideration the industry got for all of their concessions was the individual mandate – legally mandate policyholders. With the mandate's constitutionality coming before the U.S. Supreme Court, the health insurance industry may end up with nothing to show for all it gave up in health care reform. Read more here.
  
• The Healthcare Economist gives an update on the latest development in Accountable Care Organizations, or ACOs. Read more here.

Registration Open for NAPSLO Mid-Year

Registration is now underway for the 2011 NAPSLO Mid-Year Leadership Forum, February 23-26 at the Naples Grande Beach Resort.

To register for the meeting go to http://midyear.napslo.org and enter your NAPSLO member ID number. The registration fee for delegates is $795 and the fee for spouses is $425. Registration fees will increase on Jan. 20 to $895 and $475.

At the end of the registration process there will be a link for attendees to reserve a hotel room at the Naples Grande Beach Resorts, a Waldorf-Astoria hotel. Rooms are $259 plus a $10 daily resort fee, which includes free wireless access in the rooms.

Mid-Year meeting programs get underway on Wednesday, February 23 at 6:00 p.m. with the Opening Reception.

On Friday morning there will be an Executive Session program featuring Stephen Harvill from Creative Ventures discussing "What Keeps You Up At Night" with several industry leaders, including Joel Cavaness, Risk Placement Services; Tony Markel, Markel Corporation, and Kevin Westrope of Westrope. Mr. Harvill led the leadership panel discussion at the 2010 Mid-Year meeting.

Following the Executive Session program the annual Derek Hughes/NAPSLO Educational Foundation Golf Invitational will take place that afternoon at the Naples Grande Golf Course. In addition to the golf event there are also airboat tours of the backcountry and a catamaran sailing event. Attendees can register for all of the events online.

The Mid-Year programs end on Friday night with a cocktail hour at 6:00 p.m. to allow attendees to network with other attendees prior to going out to dinner.

Mid-Year Workshop Registration to start on Friday!

Registration for the 2008 NAPSLO Mid-Year Educational Workshop will begin on Friday, November 30, and members will receive an email with information on how to register online.

The 2008 NAPSLO Mid-Year Workshop is scheduled for February 20-23, at the Fairmont Scottsdale Princess Resort in Scottsdale, Arizona. Programs scheduled include a look at private equity firms impact on the industry and a preview of the 2008 elections.

Online registration
A link will be included in the email to direct members to a page on the NAPSLO website which will start the online registration process. Member login information will be included in the email and will be needed to access the web page. Members will be able to register and sign up for tours online (including the Derek Hughes/NAPSLO Educational Foundation Golf Invitational.)

Paper registration
Members will still be able to register by submitting a paper registration form. Registration materials, hotel forms, and the brochure will be available to download from the NAPSLO website.

The $195 Million Man and the Woman with $1 Billion Legs

Valuable and unique assets mean unique and high-dollar insurance coverages

The insurance industry is no stranger to providing unique coverages for specific and individual risks. Not surprisingly, many of the larger and more noteworthy of these specialized risks come from the world of Hollywood. Typically these specialty lines transactions are incredibly complex and highly customized, in large part because so much money is at stake.[1]

With that in mind, 24/7 Wall St. has listed nine of the more striking insurance policies taken out by or on behalf of celebrities.

Some of the more notable entries as reported by Daily Finance:

• Singer Mariah Carey's $1 billion insurance policy covering her famous legs;
• International soccer star David Beckham's $195 million policy covering his entire body;
• Football great Troy Polamalu's $1 million policy on his trademark hair;
• Musician Bruce Springsteen's $5.5 million policy covering his vocal chords; and
• Baseball slugger Mark McGwire's $120 million policy on his fragile left ankle.[2]

Some honorable (but not entirely confirmed) mentions:

• Dutch winemaker Ilja Gort's $7.8 million policy on his nose;
• Actress and singer Jennifer Lopez's $1 million policy on her famed rear-end; and
• Artist Andy Warhol's $1 million policy on his eyes.[3]

1. Insuring the Absurd, Matt Villano, InsWeb, August 2, 2010.
2. The 9 Craziest Celbrity Insurance Policies, Douglas McIntyre, Daily Finance, November 28, 2011.
3. Insuring the Absurd, Id.

What Happens If My Life Insurance Company Goes Bankrupt?

by Richard F. O’Boyle, MBA, LUTCF

Over the last few years we have seen seemingly solid American corporations go out of business. It doesn’t happen often, but it’s a legitimate fear of all investors: What happens if my life insurance company goes bankrupt?

First, don’t panic. Each state has a guaranty fund set up by the insurers that is responsible for managing insolvent insurance company policies and claims until another company moves in and merges the outstanding policies with its own. When trouble strikes the company, you will receive a letter from the company and/or state insurance commission.

Read the complete article...

St Francis Xavier University situated in Nova Scotia

St Francis Xavier University situated in Antigonish, Nova Scotia (Northeast Canada) can be rated for the reason that #1 college or university throughout Canada between primarily undergrad educational facilities simply by Maclean's - one of many top publications throughout Canada. St. Francis Xavier is home to more than 4200 learners which result from several parts of Canada along with places. The college or university is well known to its quality programs throughout martial arts, technology, enterprise along with data devices, but almost all learners tend to proceed right now there because of its tiny campus setting, tiny courses, one-on-one faculty-student conversation, community assistance along with analysis options. St. Francis Xavier gives approximately thirty-three instructional programs including Anthropology for you to Economics for you to Human Kinetics. Probably the most well-known majors contain Business, Information Systems, Nursing and Aquatic Resources.

Admission*

Entrance requirements generally include a senior high school diploma or degree or maybe their comparative together with lessons throughout English, Arithmetic, along with instructional subjects. U. S. senior high school graduates should have completed sixteen instructional subjects Global learners in whose local words is just not English along with who may have certainly not joined school in a English-speaking nation ought to submit TOEFL standing (236 for the computer-based test and 580 for the paper-based check usually are required).

Tuition and General Fees**

Canadian Pupils: $6800 Canadian Cash (CAD) or instructional yr (approximately $5, 783 USD)
Global Pupils: $13, 289 CAD or instructional yr (approximately $11300 USD)

Scholarships and grants are for sale to Canadian along with worldwide learners which get outstanding levels (85% or maybe greater), a history connected with community do the job, management along with perseverance for you to some others.

* Admission Procedure determine by University Condition
** Determination of Fee Subject to University  Conditions

Alternate Sources of Home Heating

The high cost of home heating and the current recession have led many Americans to search for alternate sources of home heating.  Many of these sources of heating may be acceptable if appropriate safeguards are used.  However, be aware these supplemental heating devices are responsible for thousands of home fires each year.

WOOD STOVES

Wood stoves cause more than 4,000 residential fires each year.  Carefully follow the manufacturer's installation and maintenance instructions.  Look for solid construction, such as plate steel or cast iron metal.  Check for cracks and inspect legs, hinges and door seals for smooth joints and seams.  Use only seasoned wood for fuel, not green wood, artificial logs or trash.  Inspect and clean your pipes and chimneys annually and check monthly for damage or obstructions.  Cleaning more often may be necessary.  Be sure to keep combustible objects at least three feet away from your wood stove.

ELECTRIC SPACE HEATERS

Buy only heaters with the Underwriter's Laboratory (UL) safety listing.  Check to make sure it has a thermostat control mechanism, and will switch off automatically if the heater falls over.  Space heaters need space, keep combustibles at least three feet away from the heater.  Always unplug your electric space heater when not in use.

KEROSENE HEATERS

Buy only UL-approved heaters and check with your local fire department on the legality of kerosene heaters use in your community.  Never fill your heaters with gasoline or cam stove fuel, both flare up easily.  Only use crystal clear K-1 kerosene.  Never overfill an portable heater and never fuel the heater when it is hot.  Use the kerosene heaters in a well-ventilated room.  Kerosene heaters pose perhaps the worst exposure largely due to improper use and the fact they contain a highly flammable liquid-not to mention potentially dangerous fumes.

FIREPLACES

Fireplaces and wood stoves regularly build up creosote in their chimneys.  They need to be cleaned frequently and chimneys should be inspected for obstructions and crack to prevent deadly chimney and roof fires.  Check to make sure the damper is open before starting any fire.  Never burn trash, paper or green wood in your fireplace.  These materials cause heavy creosote buildup and are difficult to control.  Use a screen heavy enough to stop rolling logs, and big enough to cover the entire opening of the fireplace to catch flying sparks.  Do not wear loose fitting clothes near any sealed metal container outside the home.

Finally, having a working smoke alarm dramatically increases your chances of surviving a fire. Always remember to practice a home escape plan frequently with your family.

Source: US Fire Association

Cavalcade of Risk No. 222

Insurance Regulatory Law is quite grateful to welcome the Thanksgiving edition of the Cavalcade of Risk, bringing a bounty of information on a variety of insurance-related topics from a number of different experts. The Cavalcade is a biweekly, rotating collection of articles and links (also known as a "blog carnival") from insurance and other risk-related resources that provides some great information and insight about risks and risk management.

Without further ado, Insurance Regulatory Law presents the 222nd Edition of the Cavalcade of Risk:

• Henry Stern at InsureBlog digs into a bowlful of Unintentional Medical Tourism with a side of coverage controversy. When a 6-months pregnant Canadian woman took a personal trip to Hawaii, she brings home a bouncing baby souvenir and $1 million in medical bills. InsureBlog fisks the MSM's coverage. Read the full article for more information.


• The Health Business Blog eschews the turkey and tries to decide between the chicken and the egg. In Chicken or egg: Do family dinners lead to health or vice versa?, the Health Business Blog sets the table with what seems like a clear case of cause and effect: having dinner together leads to better health. But maybe family dinner is just a proxy for high-income families with leisure time. The risk is that we underestimate the social determinants of health and are too smug about our own virtue. Read the full article for more information.


• On his Governance, Risk Management & Audit blog, Norman Marks serves up an extra helping of Technology, Strategy, Cyber, and Risk cooked over a slow boil of disruptive technology. Disruptive technology - think 3d printing - poses risks that many (most?) businesses haven't considered, and Norman Marks makes the case for why they should. Read the full article for more information.


• Hilary Tuttle at the Risk Management Monitor hones in on the retail side of the Thanksgiving tradition. Yes, Thanksgiving means Black Friday is closing in, so How Retailers Can Better Mitigate Black Friday Risks offers up some handy tips for retailers interested in mitigating risks associated with the annual sales behemoth. Read the full article for more information.


• The Risk Management Association blog is already looking forward to the next annual sales behemoth, Christmas, with its post CFPB Proposes New Protections for the Prepaid Market about pre-paid products (i.e., gift cards and the like), explaining how proposed new rules for these pre-paid products may help mitigate consumers' risks. Read the full article for more information.


• And last, but certainly not least, Jeff Waters at the RMS Blog brings us all back down to earth with Canada earthquake risk 85 years after the Grand Banks earthquake and tsunami. When you think of Thanksgiving, you probably don't think about earthquakes and tsunamis. Well, when you think of earthquakes and tsunamis, Canada's probably not the first locale that comes to mind. But the RMS Blog notes that November 18th marked the 85th anniversary of a 7.2 magnitude quake "up North," and discusses the risks of another one in the near future. Read the full article for more information.

The next edition of the Cavalcade of Risk will be hosting by Bob Wilson at WorkersCompensation.com. Thanks for reading, and have a great holiday!

HAPPY THANKSGIVING

We at Fey Insurance Services want to wish you and your families a Happy Thanksgiving. May you use this time of year to count your many blessings and be thankful for all that you have.

We will be closing at noon today and will reopen on Monday November 30th. You can still reach us via our website (http://www.feyinsurance.com/). From our website you can go to "Customer Tools" and submit any policy changes you need or under the"Our Staff" link you can find one of our Fey Insurance Services representative's email address and email them directly. We check email several times a day even when the office is closed.

Again, from us here at Fey Insurance Services to all of you, Happy Thanksgiving.

How can you opt for a college or university

The USA will be popularly known as us along with supports Washington D C as their cash. The following the education will be majorly furnished by the population segment. With this country one can find great relevance regarding knowledge therefore, the fiscal power will be organized by means of neighborhood, talk about along with federal government. Little one knowledge will be customary and as a consequence, nobody here receives laid-off at least by way of a part-time work. In North America there are lots of approved schools, universities and colleges. One can possibly attain basic, scholar along with doctoral stage in us. There are several resources offering financial abet or even scholarships or grants in order to students which can not manage obtaining the knowledge. With this country the standard of knowledge will be remarkably respectable and as a consequence, it can be with great requirement. You will discover quite a few migrants with US regarding degree. It is the world's major knowledge center where the makes use of of innovative technological know-how have been in excellent utilize.

How can you opt for a college or university?

There are numerous programs which is available from several universities and colleges regarding diverse stage amounts. Within the National knowledge style there's equivalent contribution of interior and also out-of-doors routines. There are several very affordable educational provinces in the USA. Searching for educational institutes above here may well turn into a frantic job thus in that case anybody can go through the rules recruited under:
• Research - Investigation is among the important methods that one ought to experience discovering college or university along with university or college. Go through several educational websites to uncover your own destination. There are several educational facilities which promote or even publicize a number of colleges or even educational facilities along with there are lots of these kinds of colleges which publicize their particular college or university by means of making their particular individual web page.
• Visit Consultant - A try for the therapist will make your own self confidence stage solid or even raise your responsibility or even assist you to choose the appropriate path. Conversation with the therapist may help you realize that course, subject or even plan you'll want to pick by means of learning your own higher level of awareness.
• Know the site - When once you have thought i would obtain enrolled in a unique college or university, almost go to the location. Match the tutors along with students to understand additional concerning the location. Study the reviews to be able to complete your responsibility.
• Enrollment Method - Know the enrollment course of action to what eligibility as well as other papers are essential. As a result of that you will probably come to realize the management process. Likewise take a look at should the specific college or university offers almost any types of financial abet or even not really.

Educational institutions metropolis New York

New York is probably the quickest increasing cities on the planet as well as pursuing knowledge listed here is a desire come true with regard to individuals within as well as from the declares. Also, your eligibility requirements of the prime Colleges in this article plus the costs are extremely higher. If you fulfill these kinds of requirements, listed below are the very best educational institutions from the metropolis involving New York

New York University
A non-public University, in New York as well as founded within 1831 could be the New York University. Although identify appears to be since if it is the open University, it is not. This is a very large University which is connected with 18 colleges and a substantial residential process that could produce real estate for you to in relation to 12000 individuals. Your University is also great within athletics along with more curricular actions. The average rank of this University globally is 25. Your School of thought school might be priced at referencing as it graded #1 on the planet.

Cornell University
This can be likewise an additional prime individual University within New York in Ithaca. Your training presented listed below are a great deal and is particularly available to anyone. Cornell University is non-sectarian and has age 14 schools with regard to graduates as well as beneath graduates. This is a excellent link with regard to worldwide individuals from 120 countries

University involving Rochester
A different individual University within New York which is once more non-sectarian and a excellent school wherever quite a few high quality artists graduates is University involving Rochester. Your university or college provides options for you to a huge selection of local people as well as holds 35th from the prime colleges involving UNITED STATES OF AMERICA. The quantity of academics is fairly very good and they are generally designed for people when within need to have. This is a great a single with regard to investigation individuals as well as the section is graded 21st.

Columbia University from the Location involving New York
Useful simple fact in relation to New York is all the prime Colleges are individual and this also is categorized underneath the same fixed. This is probably the most ancient educational institutions near you as well as the most ancient from the express. Started within 1754, your University brand new operates in several countries which include Chinam Portugal, Asia as well as Michael Jordan. Your university or college is graded first within investigation and many other procedures as well as regions which include but not on a assets, Countrywide Academy people, prizes as well as post-doctorial appointees. Strangely enough, 90% of the graduates listed below are beneath graduates of the same University

City University of New York
City University of New York is short for Location University involving New York. Eventually we have now the Open University from the checklist. Since the identify claims, it is a metropolitan University in metropolis wherever individuals from over 250 countries follow graduate as well as beneath graduate studies. With regards to area, CUNY holds next in the us in terms of area and is particularly financed with the New York.

NAPSLO Applauds NCOIL's Actions on Tax Compact, NRRA Compliance

NAPSLO applauds the adoption by the National Conference of Insurance Legislators (NCOIL) of a revised version of the Surplus Lines Multi-State Insurance Compact (SLIMPACT) and also the adoption of a resolution urging the states to amend their insurance laws to have them conform to the recently passed surplus lines law reforms. NCOIL took both actions at its recent 2010 annual meeting in Austin, TX.

The new compact is a smaller version of SLIMPACT, which NCOIL adopted in 2007. The new compact is designed to fulfill the compact provisions of the Nonadmitted and Reinsurance Reform Act (NRRA) which Congress passed and the President signed last July as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

“NAPSLO supports NCOIL’s action in approving what is known as SLIMPACT-lite and NCOIL should be commended for responding to the concerns the NAIC expressed about SLIMPACT and creating a revised version that addresses the problems the NAIC had with SLIMPACT,” said Richard Bouhan, Executive Director of NAPSLO.

“SLIMPACT-lite is a workable compact that meets the requirements of the NRRA in ways that the NAIC compact proposal does not. NAPSLO believes it will be well received by state legislatures,” stated Steven Stephan, Government Relations Director of NAPSLO.

Also at its annual meeting, NCOIL adopted the resolution urging the states to amend their insurance laws to have them conform to the NRRA by the law’s effective date of July 21, 2011.

NAPSLO is most appreciative of NCOIL’s effort of encourage the state’s to act quickly to have their laws amended and conform to the NRRA requirements, Mr. Bouhan said.

Flood Insurance Facts

Flood insurance had its fifteen minutes of fame after the Hurricane Katrina disaster in 2005. During this time period the media was making everyone well aware that flood insurance is not part of your typical homeowner policy. Today that is still the case and with this post I would like to point out a few more facts about flood insurance.

Flood insurance is run through a government program called FEMA (Federal Emergency Management Agency). You can purchase it through insurance agency such as Fey Insurance Services but the backing is from FEMA. Typically it takes 30 days for a new flood insurance policy to go into effect. The one exception would be for a mortgage closing where flood insurance is required. So you need to plan ahead. Hearing about a big rain on the nightly news and calling your agent the next day will not work. Many people think of flood insurance when they think about what is stored in their basement. Flood insurance will only cover things such as furnaces, water heaters, washers, dryers, air conditioners, freezers, pumps and utility connections. Everything else you store down there (old cloths, furniture, carpet, TV, etc) is not covered unless those items are on the first floor of your house and the flood reaches that level.

In some cases flood insurance is required in order to get a loan. If your home or a home you are about to purchase is in a 100 year flood plain (meaning at least once every 100 years your location is under several feet of water) you will be required to purchase a flood insurance policy to close on your loan.

Feel free to get in touch with a Fey Insurance Services representative to learn more facts about flood insurance or to get a quote today.

Damage to Rented Premises

Any time a business rents or leases a space to operate from they sign a contract. In that contract are insurance requirements stating that the tenant will carry certain liability limits. Normally they will ask the tenant to carry a commercial general liability policy, and more often than not they ask for at least $1,000,000 per occurrence limit. The reason they ask for this is that if the tenant is the cause of a fire or other type of damage to the rented building, the landlord wants to make sure that the tenant’s insurance will pay for the damages, and not their own insurance.

Commercial General Liability takes care of a lease contract with two different types of coverages. The first is the coverage I mentioned above of $1,000,000 per occurrence limit. This coverage, however, only gets the tenant half way there. The per occurrence limit doesn’t cover for actual areas of a building that the tenant rents or leases. It will pay for only the part of the building that is not rented by the tenant. An example might help explain this better.

Example:
Let’s say that business XYZ, Inc rents unit A of a four unit office building. If XYZ, Inc causes a fire that extends damages to both unit A and unit B, the per occurrence portion of their insurance policy will only cover damages to unit B. It will not pay for damages to unit A because it is leased or rented by them.

Damage to Rented Premises (sometimes called Fire Legal Liability) is the other coverage a tenant needs when they rent space. This coverage is often included in a general liability policy as well but many times is not specifically mentioned in lease contracts. In the example above, Damage to Rented Premises would be the coverage that would pay for unit A that XYZ, Inc. rented.

The reason I bring this up as a blog article topic is because the Damage to Rented Premises is often overlooked. Since it is left out of many lease contracts, businesses don’t think to check with their insurance carrier about the coverage. Your typical commercial general liability policy will only include $100,000 to $500,000. If company XYZ, Inc. in the above example rented a large space, this may not be enough coverage, and they could pay for some of the damages out of pocket.

So next time you rent a space for your business be sure to have Fey Insurance Services review the lease and double check your commercial general liability insurance limits to make sure you are covered in case of a large fire.

U.S. Insurance Regulators Seek Solvency II Equivalence Without Major Changes to Current System

Although major reforms aren't likely, the NAIC and the FIO continue to push both sides of the Atlantic to achieve Solvency II equivalence for the U.S. state-based regulatory system.

The United States insurance regulatory system will likely be deemed equivalent to the European Union's Solvency II Directive, according to Therese Vaughan, CEO of the National Association of Insurance Commissioners ("NAIC"). Solvency II, a uniform system of insurance regulatory standards adopted by the EU that is scheduled to go into effect in 2013, requires foreign insurance companies operating in the EU to have "functionally equivalent" regulation. [1]

The U.S. risk-based capital solvency system gives policyholders the same protection as Solvency II, according to experts.

Despite "fundamental differences in the underlying methodologies," the long-established risk-based capital solvency system in the United States gives policyholders the same protection as Solvency II, according to Fitch Ratings Ltd as reported by Business Insurance. U.S. regulators began a solvency modernization initiative in 2008 in response to the development of Solvency II.[2]

Regulatory cooperation already has begun between Europe and the United States. For example, several U.S. states recently relaxed rules on the collateral that overseas reinsurers must post to be able to underwrite reinsurance. This, Fitch said, is a "positive sign that cooperation will lead to an agreement on equivalence." [3]

The European Insurance and Occupational Pensions Authority ("EIOPA") is the body charged with determining Solvency II equivalence, and whether the United States is granted equivalence is a political issue according to Paul Clarke of PricewaterhouseCoopers, L.L.P., in London. There are significant differences between the US insurance regulatory system and Solvency II which could make an equivalence determination difficult, especially since U.S. authorities will likely be reluctant to make widespread changes to the U.S. system just to meet equivalence requirements.[4]

The U.S. continues to have one of the world's most respected regulatory systems, and the NAIC is firm in its view that there is more to equivalence than identical methods, processes and philosophies…[5]

NAIC CEO Vaughan says Solvency II "equivalence should be assessed on an outcomes basis," and on that basis, the U.S. "should be found equivalent." Additionally, Vaughan indicated that the NAIC is not pushing a Solvency II agenda here at home:

We've made it clear we're not going to adopt Solvency II. We have a system. We think our system works. We're engaged in continuous improvement.[6]

Strict Solvency II compliance would not work in the U.S. according to Howard Mills, chief adviser of Deloitte LLP's insurance industry group, as reported by InsuranceNewsNet.com. One of the main reasons is the state-based regulatory system in the U.S. While the newly-created Federal Insurance Office ("FIO") represents the U.S. in international insurance affairs, it currently has very little authority over the regulatory practices of the individual states.[7]

Nevertheless, representatives of the NAIC and the FIO continue to work with European insurance regulatory officials to reach understanding and compromise on insurance industry oversight under both the U.S. and the EU systems.[8]

The NAIC has also been diligently working on the U.S. Own-Risk and Solvency Assessment proposal to close some of the gaps between Solvency II and current U.S. standards. While the proposal has no formal implementation date as yet, the NAIC expects ORSA to be implemented prior to 2014 when the U.S. financial solvency equivalence assessment process review by the EIOPA is expected.[9]

1.  NAIC CEO: US Will Gain Solvency II Equivalence, Sean P. Carr, A.M. Best Company, Inc., InsuranceNewsNet.com, November 14, 2011.
2.  Solvency II equivalence likely for U.S., Sarah Veysey, Business Insurance, November 6, 2011.
3.  Solvency II equivalence likely…, Id.
4.  Solvency II equivalence likely…, Id.
5.  NAIC Fall Meeting Highlighted Challenges, Tom Sullivan, PropertyCasualty260.com, November 14, 2011.
6.  NAIC CEO…, Id.
7.  NAIC CEO…, Id.
8.  NAIC CEO…, Id.
9.  NAIC Fall Meeting…, Id.

Mid-Year Registration Material Available

Registration forms and the brochure for the 2007 Mid-Year Educational Workshop, March 1-3 at the Renaissance Esmeralda Resort in Indian Wells, California, may be download from the NAPSLO web site by going to the Registration page on the NAPSLO web site.

Member ID and password are required to access the materials. The registration materials are in Adobe Acrobat format and Adobe Acrobat Reader is required to view the documents.

Completed materials must include the firm's Member ID or Login ID in order to be processed. All correspondence will be sent to the firm's address on file. The registration deadline is December 27.

Thanksgiving Saftey Tip from Red Cross

Thanksgiving is only a few days away.  By now many families are preparing for the big day by plotting out the cooking of the traditional Thanksgiving Turkey.  Whether you are deep frying the turkey or just baking it in the oven there is always risk in doing something that is not a daily routine.  I recently came across a great article written by the Oregon Chapter of the Red Cross.  They give these seven tips for safe cooking:

• Keep potholders and food wrappers at least three feet away from heat sources while cooking  
• Wear tighter fitting clothing with shorter sleeves when cooking
• Make sure all stoves, ovens, and ranges have been turned off when you leave the kitchen
• Set timers to keep track of turkeys and other food items that require extended cooking times
• Turn handles of pots and pans on the stove inward to avoid accidents
• Follow all manufacturer guidelines regarding the appropriate use of appliances
• After guests leave, designate a responsible adult to walk around the home making sure that all candles and smoking materials are extinguished

To read the entire article please click this link:  Thanksgiving Safety Tips

 

NAPSLO Notes Passing of Samuel Bergerman

Samuel Bergerman, 74, of Livingston, N.J., died Friday morning, Nov. 18, as the result of a tragic accident. The funeral was scheduled for the Bernheim-Apter-Kreitzman Suburban Funeral Chapels, 68 Old Short Hills Rd., Livingston, N.J., on Monday, Nov. 21.
Mr. Bergerman was the owner of Anglo-American, Ltd., in Verona, N.J., for over 35 years and was a member of NAPSLO, as well as a member of P.I.A. (Professional Insurance Agents).

A lifelong New Jersey resident, Mr. Bergerman was born in Newark, N.J., on June 19, 1937 and was graduated from Rutgers University. He lived in Livingston for almost 42 years. He was a member of Maplewood Country Club, Maplewood, N.J., and Wycliffe Golf and Country Club, Wellington, Fla.

He was also a member of Temple Beth Shalom in Livingston, N.J. Sam is survived by his loving wife of almost 47 years, Hermine Bergerman of Livingston, as well as his three children, Jill Wishnew of Livingston, Matthew Bergerman of Westfield, N.J., and Adam Bergerman of Livingston, and seven grandchildren.

Rental Car Coverage

The Holiday Season brings on a lot of travel.  People are either taking advantage of time off to go on vacation or they are traveling to see loved ones in other areas of the country.  Either way they often rent a vehicle during the Holiday Season so we thought it would be a good idea to post our thoughts on whether to buy or not buy rental car insurance.  

The first question we get from customers asking about rental cars is "does my insurance cover a rental car that I rent?"  Our answer is always a "gray" answer because it just depends on the coverage they selected on their personal insurance policy, what state they will be traveling in and what rental car company they are using.  Because of this "gray" response we always recommend at least take out Collision Damage Waiver from rental car companies.  Here are four reasons why this is always a safe option:

1.  Chance of claims is higher when traveling:  In our opinion the chance of a claim when you are driving around an unfamiliar city are much higher then when you are around your hometown.  You are not often sure of where you are going so you may spend more time looking at road signsor GPS devices instead of focusing on other vehicles.  

 

2. Claims paid out by your own policy can cause your rates to increase:  As mentioned in item 1, the chance of a claim is higher when in unfamiliar areas and if you were to have a claim and did not buy the Collision Damage Waiver than the payment of the claim would come from your personal auto policy.  This could cause your rates to increase.  If, however, you had purchased the Collision Damage Waiver from the rental car company the damages to the rental car would be paid by the rental car company and not your personal auto policy.  This would help preserve your claims history.

3.  Your auto insurance deductible would apply:  If you have a claim and need to go under your own insurance, often your auto policy deductible would apply.  If, however you take out the Collision Damage Waiver there would be no deductible.

 

4.  Dealing with out of state accidents is difficult:  If you were to cause an accident while on vacation you would have to work with the rental car company on getting their car fixed by your insurance company (again, assuming you didn't purchase the Collision Damage Waiver).  You also run the risk of them automatically charging the damages to your credit card which some rental car contracts let them do.  If you did have the Collision Damage Waiver, however, you would just simply turn the car over to the rental car company and they would then deal with all the repairs and not bother you with getting payment for the damages.

It is because of these four points that in Fey Insurance Service's opinion it is always good to purchase the Collision Damage Waiver from the rental car companies.  If anything it gives you peace of mind during your Holiday travels.

Thanksgiving Safety Tips from NFPA

Here is an article from the National Fire Protection Association (NFPA) on Thanksgiving Safety Tips.  From our family here at Fey Insurance Services to yours, have a wonderful and safe Thanksgiving! 

THANKSGIVING SAFETY TIPS
The kitchen is the heart of the home, especially at Thanksgiving. Kids love to be involved in holiday preparations. Safety in the kitchen is important, especially on Thanksgiving Day when there is a lot of activity and people at home.

Safety tips:


•Stay in the kitchen when you are cooking on the stovetop so you can keep an eye on the food.

•Stay in the home when cooking your turkey and check on it frequently.

•Keep children away from the stove. The stove will be hot and kids should stay 3 feet away.

•Make sure kids stay away from hot food and liquids. The steam or splash from vegetables, gravy or coffee could cause serious burns.

•Keep the floor clear so you don’t trip over kids, toys, pocketbooks or bags.

•Keep knives out of the reach of children.

•Be sure electric cords from an electric knife, coffee maker, plate warmer or mixer are not dangling off the counter within easy reach of a child.

•Keep matches and utility lighters out of the reach of children — up high in a locked cabinet.

•Never leave children alone in room with a lit a candle.

•Make sure your smoke alarms are working. Test them by pushing the test button

Worker's Compensation issues for Ohio Business Doing Business in States Other Than Ohio

If you own or operate a business in Ohio, you are most likely carrying Ohio Worker's Compensation Insurance through the State of Ohio's Bureau of Worker's Compensation. If you pay an employee more than $160/quarter, you are required by law to do this. If your business takes you or your employees to other states, you need to be aware of the specific state's Worker's Compensation requirements. Depending on the circumstances, your Ohio Worker's Compensation may protect you and your workers in other states under the terms of Ohio's Worker's Compensation laws. There may be a problem, however, in Kentucky, for example where their Worker's Compensation governing bodies and laws do not recognize Ohio's Worker's Compensation Policies. In that case you may need to buy Worker's Compensation in the state where you or your employees are temporarily working. Many of these new issues are evolving as states scramble for revenue because of the current recession, so before going into other states on business, please check with that state's Worker's Compensation authorities to see if you need state-specific Worker's Compensation in addition to your coverage in Ohio or any other state.

Specialty Items Coverage

We are only a few weeks away from the Friday after Thanksgiving. This means that soon people will be flooding the malls trying to take advantage of the big Holiday sales. It is during this time of year that we like to always remind people that there is limited insurance coverage in all homeowner policies for things such as jewelry, guns, furs, coin/stamp/baseball card collections and silverware. No matter who your homeowner insurance company is they will only pay out a max of $1000 to $2500 for the items I just listed. The reason they do this is they feel these types of items are best covered under a scheduled personal articles policy. A scheduled personal articles policy allows you to specifically schedule items like rings, silverware, hunting rifles, coin collections, etc, for a certain value (based on a certified appraisal or sales receipt). If you currently have or are getting ready to purchase items such as these please call or email your Fey Insurance Services representative. They will help make sure these valuable items are best covered.

NAPSLO, The Council, AAMGA Urge States to Bring Laws Into Compliance with NRRA

NAPSLO, the American Association of Managing General Agents (AAMGA), and The Council of Insurance Agents & Brokers (The Council), released a joint letter Tuesday urging state legislators and insurance regulators to work as swiftly as possible to bring their codes and regulations into compliance with the Nonadmitted & Reinsurance Reform Act, which is scheduled to go into effect July 21, 2011.

According to the letter, “failure to act will result in confusion for regulators and licensees alike, arising from the existence of inapplicable, inaccurate and unenforceable code and regulation.”

The NRRA language was included as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which was signed into law on July 21, 2010.

“In a short eight months, many of the existing state laws and regulations addressing placements of non‐admitted insurance will be preempted by federal law,” the letter stated.

The three industry trade groups outlined six potential areas where NRRA compliance will require states to address their laws:

• Ensuring surplus lines premium tax is applicable on surplus lines policies only in the home state of the insured;
• Producer licensing and surplus lines placement laws can apply only when the state is the “home state” of the insured;
• Eligibility criteria for U.S.-based (foreign) surplus lines insurers must be amended to require the insurer to be licensed in the domiciliary state and meet the greater of $15 million or the state's capitalization requirement;
• Eligibility criteria for alien surplus lines insurers must be amended so any insurer listed on the NAIC / IID Quarterly Listing is eligible;
• The NRRA definition of an “exempt commercial purchaser” must be incorporated into state law; and
  
• States must allow surplus lines brokers to participate in the National Insurance Producer Database.

Each of the states would need to conduct a comprehensive review of its code and regulations to identify inconsistencies with the NRRA, the authors wrote.

NAPSLO, the AAMGA and The Council said they would help regulators and legislators realize the uniform and more efficient standards mandated by the NRRA as they draft and pass appropriate, consistent and efficient legislation and regulatory revisions.

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Industry Groups Say They Won't Support NIMA

In a letter to the Chair of the Surplus Lines Implementation Task Force, NAPSLO and five other insurance trade associations notified the Task Force they would not support the legislative proposals known as the Nonadmitted Insurance Multi-State Agreement (NIMA) or its predecessor, the Surplus Lines Insurance Multi-State Agreement (SLIMA).

The two surplus lines tax collection compacts are being considered by state insurance regulators as part of efforts to come into compliance with the Nonadmitted Reinsurance and Reform Act, scheduled to become effective on July 21, 2011.

NAPSLO, the American Insurance Association (AIA), Risk and Insurance Management Society, Inc., (RIMS); the National Association of Mutual Insurance Companies (NAMIC), the American Association of Managing General Agents (AAMGA), and the Excess Line Association of New York (ELANY) sent a letter on Monday to James Donelon, Louisiana Insurance Commissioner and chair of the Surplus Lines Implementation Task Force, stating the organizations would not supports the tax compact proposals.

The NIMA proposal was approved by the Task Force on Oct. 26, 2010 however the group said they could not support the proposal for four reasons: NIMA frustrates the spirit and letter of the NRRA; it violates the NRRA requirement that "no state other than the home state . . . may require any premium tax payments for nonadmitted insurance"; it would create unnecessary and burdensome data reporting by brokers; and it fails to create a clearinghouse infrastructure.

“The clear intent of the Nonadmitted and Reinsurance Reform Act (NRRA) was to create a streamlined tax system that involved uniform requirements, forms and procedures. NIMA not only fails to establish uniform requirements, forms and procedures, but instead continues, by contract, the burdensome system that Congress sought to eliminate with the NRRA,” the letter said.

Many of the industry trade organizations are urging support of the Surplus Lines Insurance Multi-State Compliance Compact (SLIMPACT) as an interstate compact which would comply with the new federal law and also ease the regulatory burdens on E&S brokers when placing multistate risks.

Leonard Named to NAPSLO Board of Directors

David E. Leonard has been named to the NAPSLO Board of Directors to fill the unexpired term of Randy Jones who recently stepped down from the Board.

Mr. Leonard is Executive Vice President and Chief Strategic Officer of RSUI Group, Inc. He has 28 years experience in the P&C insurance industry and joined RSUI in December 1999.

His prior roles include Casualty Underwriting management for Crum & Forster Companies and Treaty Reinsurance Underwriting for Employers Reinsurance.

Mr. Leonard graduated with a bachelor’s degree in business administration from East Carolina University and holds CPCU, ARe, AIAF and ARM designations. He has served on the NAPSLO Internship Committee and has been an instructor at the NAPSLO E&S School.

South Carolina Issues Bulletin on NRRA Changes

South Carolina recently issued Bulletin 2012-08 to outline national regulatory changes that have affected the placement of nonadmitted insurance in the state following passage of the Nonadmitted and Reinsurance Reform Act and updating state law.

In 2012 South Carolina passed Act No. 283, which was retroactive to January 1, 2012, and it amended state law to implement the definitions from the NRRA; authorized the director or his designee to enter into an agreement for the allocation of taxes; and established a blended tax rate of 6% for the collection of broker premium taxes. In addition when South Carolina is the home state, 100% of the premium taxes for policies written by insurers not licensed in this state is due.

The blended rate of 6% combines the current state broker tax rate of 4% with the existing municipal tax rate of 2% for a single 6% rate. The Act further states that a municipality may not impose any additional license fee or tax based upon a percentage of the premium.

A key provision in the Bulletin regards premium tax payments. Brokers are required to pay the blended tax rate of 6% to the state via the online surplus lines tax application and file any required reports on the business transacted with the South Carolina Department of Insurance. Prior to this Bulletin, payments were sent to various agencies. Now Brokers will not have to submit tax forms to the Municipal Association of South Carolina or file forms with multiple places or pay taxes to multiple locations., simplifying tax payments greatly and placing South Carolina in the fully home state tax rule column.

During the payment period for the fourth quarter of 2012, which is January 1, 2013 through January 31, 2013, brokers will pay the 4% portion of the blended tax rate for all business reported during the fourth quarter. Brokers will also pay the 2% portion of the blended tax rate for ALL business reported for calendar year 2012 to the Department of Insurance via the online surplus lines premium tax application.

As Act No. 283 is effective retroactive to January 1, 2012, this procedure is required to collect the 2% portion of the blended tax rate which has not been reported to the Department of Insurance. Beginning, January 1, 2013, brokers will pay the blended tax rate of 6% quarterly on all submissions and endorsements reported to the department via the online surplus lines premium tax application.

Do You Have The Right Car Insurance?

Auto protection is inalienably unpredictable to go since you don't figure out exactly how well it functions (or doesn't) until you have a mischance. Furthermore assuming that you're lucky, that doesn't happen again and again. So how would you know whether you have the right sort of auto protection for your plan and lifestyle? U.S.News talked with a handful of auto protection masters to discover what you might as well do before settling on a last choice on your approach keeping in mind the end goal to get an exceptional arrangement and abatement the possibility of being shocked by unforeseen takes after an episode. Here's their best exhortation: The point when picking an arrangement, begin by requesting from companions proposals. "It generally bodes well for first ask individuals who you regard who they have accident protection with, and in the event that they were upbeat when they had a case," says Jeanne Salvatore, agent for the Insurance Information Institute, an industry bunch. Strangers can likewise offer convenient guidance. Individuals regularly take their grumblings about auto protection to social media, web journals and different sites. Scan for posts on Twitter utilizing the hashtag for the organization you are acknowledging. The National Association of Insurance Commissioners and the Center for Insurance Policy and Research makes it simple to find formal dissentions that have been held up against organizations also. State purchaser's aides are an alternate asset. States discharge definite controls for buying accident coverage that demonstrate the ins and out of property harm and additionally impact and exhaustive scope. "Get the purchaser's guide – don't only head off to some executor," proposes Bob Hunter, executive of protection at the Consumer Federation of America. Those purchaser's aides likewise plot the base needed scope and what components impact your protection rates, from driving records to how you utilize the vehicle. The point when looking at arrangement costs, make sure to look at comparable strategies, alerts Phil Reed, senior shopper counsel editorial manager at Edmunds.com. Auto arrangements shift by time span, level of administration and an exhibit of additional items, he says. In place of simply looking the Internet to look at quotes, Reed proposes getting on the telephone with organizations and making inquiries, as well. Certain auto security characteristics, for example caution frameworks or antilock breaks, can help bring down your rate. In the meantime, there's no compelling reason to fixate on continually pursuing an improved arrangement. Jeff Blyskal, senior essayist at Consumer Reports, says when the magazine asked book lovers to attempt to show signs of improvement manage a contending protection supplier, just 12 percent of respondents were fit to do so. That is in spite of the slew of accident protection notices that might have you suppose an improved arrangement is dependably just around the corner. When you've settled on a protection supplier, you'll have the opportunity to think about different additional items to your approach. All in all, the more you pay forthright, the more excellent the scope you'll have. Case in point, you can settle on a higher deductible so as to minimize your rates – presumably a great move for any individual who sees themselves as a watchful driver and can bear the cost of the higher deductible in the occasion of a mischance. You may likewise need to think about rental scope. Accident protection arrangements regularly permit you to extra scope for leasing a vehicle while your auto is getting settled after a mishap, and assuming that you just have one auto, that sort of scope can pay off. "Each client who didn't have rental scope wished they had it," says Richard Arca, senior administrator of evaluating at Edmunds.com and a previous protection adjuster. It normally includes about $20 for six months to a strategy, he says. On new and rented autos, Gap protection can likewise bode well. You've may have heard that when you purchase another auto, it loses esteem when you drive it out of the part. Rented vehicles additionally regularly convey an easier reasonable market esteem than what you owe on the vehicle. That means in either of the aforementioned cases, assuming that you add up to the auto, the insurance agency will just repay you for the auto's reasonable business sector worth – and you could be out a great deal of money. Crevice scope, which stands for "ensured auto security," defends individuals from that issue. "It's remarkably prescribed for individuals who lease vehicles,

Randall Jones Named NAPSLO's Education Director; NAPSLO Advanced School Renamed to Honor Retiring Education Coordinator

Randall D. Jones has assumed the position of Education Director for NAPSLO and is responsible for exploring and developing new educational programs along with the oversight of existing programs, including the highly successful NAPSLO schools.

"I am excited to join NAPSLO and work with our new surplus lines compliance course, which has been approved for CE credits in 48 states to date," said Mr. Jones.

Mr. Jones has assumed this role due to the retirement of Marcus Payne as the NAPSLO Education Coordinator. Mr. Payne was instrumental in establishing the outstanding reputation and success of the existing NAPSLO schools.

NAPSLO announced that the NAPSLO Advanced School, which takes place each fall in St. Louis, has been renamed the Marcus Payne NAPSLO Advanced School in honor of Mr. Payne, who retired this year as NAPSLO’s Education Coordinator. Mr. Payne was part of the E&S School since it was founded in 1990 and the Advanced School since it started in 1995. He served as an instructor and panelist and then, beginning in 2000, as Education Coordinator.

Mr. Jones began working with NAPSLO in 2010 as a planning facilitator to help the Education Committee in the drafting of a new strategic plan. Based upon member feedback, obtained during the planning process, Mr. Jones has been directing the development of several new educational offerings that will include the newly released on-line course for excess and surplus lines regulatory compliance.

“The NAPSLO schools are a great foundational source of education and unique peer networking experience for members in the industry and will continue to provide this significant benefit to NAPSLO members," said Mr. Jones. “We also want to explore additional alternative curriculum delivery and learning opportunities that supplement these excellent schools.”

NAPSLO currently offers the E&S School for individuals with two to five years experience in the surplus lines industry; the Advanced School for those with more than five years experience; and the Executive Leadership School for senior level employees. In addition NAPSLO works with Success CE to offer on line continuing education courses and has worked with the AAMGA and PLUS to make their educational programs and courses available to NAPSLO members.

Mr. Jones has been involved with NAPSLO’s educational efforts since 1995 when he was an instructor at the first NAPSLO Advanced School and has led reinsurance and alternative market courses each year since.

Prior to accepting the position he was providing strategic consulting and executive coaching for a select number of clients in the specialty insurance industry. He also serves as a director on several boards for privately held companies through Strategic Advisors Group LLC.

Mr. Jones has been in the insurance business for 35 years, including serving as President/CEO of Northland Insurance Companies and President/CEO of Maxum Indemnity. Mr. Jones has also served on the NAPSLO Board of Directors as a co-chair of the Education Committee, the NAPSLO Education Board of Trustees, the NAII Specialty Lines Committee and the Minnesota Insurance Federation of Executives.

He received a Bachelor of Science degree in Criminal Justice from Southern Illinois University and has completed the Wharton School Insurance Executive Program, among other insurance specific programs and is scheduled to graduate from Central Michigan University with a Master’s degree in Education, focusing on adult learning and curriculum.

Supreme Court Agrees to Hear Health Care Reform Challenges, But Health Care Reform Already Fundamentally Changing the Health Care and Health Insurance Industries

Although the Supreme Court has agreed to hear challenges to health care reform, the debate is unlikely to be settled by the high court's decision, and the landscape of health care and health care insurance is already undergoing major and lasting changes.

As reported by a number of news outlets, the United States Supreme Court has indicated that it will hear legal challenges to the Obama administration's health care reform initiatives, which were set forth primarily in the Patient Protection and Affordable Care Act of 2010 and related legislation ("PPACA"). Arguments before the Supreme Court justices in the health care reform matter are scheduled for March of 2012.

The justices announced they will hear an extraordinary five-and-a-half hours of arguments from lawyers on the constitutionality of a provision at the heart of the law and three other related questions about the act.[1]

PPACA includes a number of different reforms relative to the health insurance industry as well as public health programs with the stated goal of increasing individual health insurance coverage while decreasing health care and health insurance costs.

The law's "individual mandate" is a principal point of contention.

A number of states and other parties have filed challenges to PPACA, with one of the principal points of contention being the so-called "individual mandate" under PPACA that legally requires individuals to obtain a minimum level of health insurance coverage. However, other issues will also be before the Supreme Court when it hears the matter in March.

The questions the Supreme Court asked lawyers to argue when the justices consider appeals of President Barack Obama’s health care overhaul in March:

• Does Congress have the power to mandate that Americans buy health insurance or pay a penalty?
• If the requirement to buy insurance is unconstitutional, is the whole law unconstitutional? What other parts of the law, if any, could survive?
• Is Congress illegally coercing states to expand Medicaid, the subsidized health care for the poor and disabled, by threatening to withhold funding from states that refuse?
• Since the penalty for not buying health insurance doesn’t go into effect until federal income taxes are due in 2015, are legal arguments currently brought against the health care overhaul premature?[2]
  

Observers are predicting a Supreme Court decision on President Obama's health care reform sometime next summer, just before the November presidential election. As such, health care reform is expected to become a major political issue in the presidential race.

The Supreme Court's decision on the constitutionality of the individual mandate is unlikely to finally settle the matter.

However, both sides of the argument agree that the Supreme Court's decision on PPACA and the constitutionality of the individual mandate is unlikely to finally settle the matter. Opponents of the health care reform initiatives say that, even if the Supreme Court upholds the individual mandate and other matters at issue, they will continue to challenge other provisions and seek repeal of the Obama administration's health care reform legislation in Congress.

But if the Supreme Court strikes down the individual mandate as unconstitutional, proponents have indicated their commitment to continue pressing forward with the rest of Obama's health care reform agenda.[3]

The health insurance industry has already begun to change because of these initiatives and other forces.

Additionally, the health insurance industry has already begun to shift as a result of legislative initiatives such as PPACA and other forces, including economic pressures and consumer demands. Consider the following from a recent New York Times article suggesting that health care in the United States is inexorably changing, despite the legal uncertainties:

No matter what the Supreme Court decides about the constitutionality of the federal law adopted last year, health care in America has changed in ways that will not be easily undone. Provisions already put in place, like tougher oversight of health insurers, the expansion of coverage to one million young adults and more protections for workers with pre-existing conditions are already well cemented and popular.

—

From Colorado to Maryland, hospitals are scrambling to buy hospitals. Doctors are leaving small private practices. Large insurance companies are becoming more dominant as smaller ones disappear because they cannot stay competitive. States are simplifying decades of Medicaid rules and planning new ways for poor and rich alike to buy policies more easily.

—

Other changes influenced by the legislation may leave some patients and doctors lost in the new land of giants. As medicine moves from a cottage industry to one dominated by large organizations, some patients with insurance will probably find their choices more limited. But their care may be better coordinated, as hospitals, doctors and even insurers join to streamline services.

—

Even if the Supreme Court upholds the law’s requirement for many employers to offer coverage to workers, it is not clear that Congress will want to keep the requirement in its current form or see it vigorously enforced. With the nation’s unemployment rate stubbornly stuck around 9 percent, businesses often cite the costs of providing health care coverage as one of the reasons they cannot hire or expand their work force.

—

Despite opposition in some corners and lukewarm reception in others, a wholesale repeal of the law by Congress may be unlikely. Lawmakers may find it unpalatable to abandon the entire effort, given the fact that critics of the law have not agreed on one comprehensive proposal that would offer coverage to anywhere near the 50 million Americans who are still without coverage. Even if the law goes into effect, an estimated 20 million will still be without insurance. [4]

1. Supreme Court Will Hear Health Care Case This Term, Jesse J. Holland and Mark Sherman, Associated Press, Business Week, November 14, 2011.
2. A Quick Look At The 4 Questions At Issue In The Supreme Court’s Health Care Overhaul, Associated Press, November 15, 2011.
3. Justices Unlikely To Have Last Word On Health Care, Ricardo Alonso-Zaldivar, Associated Press, November 15, 2011.
4. Whatever Court Rules, Major Changes in Health Care Likely to Last, Reed Abelson, Gardiner Harris and Robert Pear, New York Times, November 14, 2011.

Mid-Year Registration Materials Available

Registration materials for the 2006 NAPSLO Mid-Year Educational Workshop, set for February 16-18 in Phoenix, have been mailed and are also available for download from the NAPSLO web site.

The meeting will take place at the Marriott Desert Ridge Resort in Phoenix and the Mid-Year Workshop gets underway on Thursday, February 16 with the Opening Reception. Programs are set for Friday and Saturday with topics covering current legislative activity, disaster recovery and controlling e-mail risks.

In addition, the Derek Hughes/NAPSLO Educational Foundation will hold their annual golf tournament on Friday, February 17.

Registration and hotel room deadline is December 21.

Receiving motorcycle insurance extreme

Receiving motorcycle insurance should be on the extreme thought. This is like a feeling associated with protection not simply for you personally also for your vehicle. This will be your shielding measure for almost any losses or damages which could incur down the road. Yet any time having insurance, it is crucial for you to assess cycle insurance to ensure you to definitely select the ideal organization and also make the most through your money. It will be a good not practical take action to invest over precisely what is required for your motorbikes. Listed below are easy nevertheless efficient tips on what for you to assess cycle insurance.

1. Certainly is a confident onlooker. You have to thoroughly know and also comprehend each and every detail. Many insurers would seem to get excellent presents in reality you are really paying excessively. Avoid being in no time. It's a excellent behavior to check each and every information on this insurance you happen to be availing for your cycle. You possibly can assess cycle insurance simply by checking online. You possibly can take down a fairly easy take note to generate your look for much easier and much more things to consider. It's wise likewise for you to individually come with an visit along with your insurance organisation to be able to increase all of your uncertainties and also concerns.

2. Avoid being confused simply by cheap rates. Even though it might be superior to get minimal quality insurance however additionally it is just as important to make certain that the business comes with a excellent insurance policy coverage for your item.

3. When producing several updates on your motorbikes, it is crucial for you to assess cycle insurance plan. A number of insurance organisation provides little or no boost by any means on the amount of your insurance even with adjustment. It's best to deal with this problem prior to generating any kind of alterations on your motorbikes.

4. If you are not so familiar with precisely how insurance works, it's best to find the assistance of a broker. There're the top those who can provides you with the most suitable advice on which kind of insurance you need to be having for your item.

5. Search for a good insurer that has superior insurance policy coverage. It is incontestable that will ride on motorbikes is actually much more at risk from risk that will another auto kind. It will be ideal if you take complete insurance. Notify every thing for a insurance organisation. Tend not to cover specifics, since it will support your business figure out which kind of insurance is best for you personally.

Much like other auto kind, it is necessary for you to assess cycle insurance. Even though for most, it will likely be an additional expense however having a good insurance plan perform support a lot since many of us don't have any command associated with what is going to take place down the road.

Extremely important motorbike insurance

Motorbikes are the most famous automobiles currently as more and more people on the youthful creation usually are exhibiting wonderful desire for these kinds of automobiles. These kinds of fabulous automobiles are recognized for their particular very exclusive functions. These kinds of exclusive functions include their particular speed in addition to less expensive fuel intake. These kinds of functions get manufactured these kind of bikes most liked one of the folks as the two of these help to make these kind of bikes very affordable automobiles. However, these kind of bikes have any bad functions as well. One of them bad functions would be the greater danger issue. 

These kinds of greater danger aspects help to make the local administration of all of the says in addition to international locations place a lot more emphasis on the safety precautions related to these kind of bikes. Every one of the provinces on the Us also carry almost all preventive actions to provide every one of the users regarding bikes an incredibly at ease in addition to safe and sound experience on the road. One such calculates offers this kind of bikes extremely important motorbike insurance. These kinds of bikes coverage are available with all the current key insurance carriers in the United States. These kinds of coverage are manufactured important for all you riders with regards to personal security and safety. Good position principles on the highways, every single motorbike operator need to bring his motorbike insurance coverage along with your ex when he is on the road.

Currently with all the benefits in addition to progress regarding World-wide-web similar purposes, it offers turn into much easier for your motorbike owners for getting info on the actual less expensive in addition to very affordable motorbike coverage. Most of the key in addition to productive organizations in the united states regarding The united states are present on the internet. You will discover these businesses easily on the internet. You will discover the best plan for an individual by investigating the actual motorbike coverage readily available using these organizations.

In case essential, you may also obtain motorbike insurance quotes coming from these kind of on the net organizations. Considering that these kind of quotations spot readily available on the internet certainly immediately, you'll find out and about one of the most very affordable insurance coverage in your case according to your personal financial disadvantages. These kinds of motorbike insurance quotes are useful that you should make a decision which company as well as which insurance coverage to look to your own motorbike. Being a make a difference regarding fact, these kind of motorbike insurance quotes are useful to make a decision the financial demands as in addition to when you wish.

Election Impact on the Insurance Industry: More of the Same – A LOT MORE

Recent articles and opinions suggest that the recent election means a lot more of the same for the insurance industry – including a new flood of regulations.

A number of insurance industry observers and pundits have recently discussed the potential impact of the recent election upon the insurance industry and insurance regulation.

FIO is likely to play expanding role in insurance regulation

An article from Insurance Networking News, for example, suggests that the Federal Insurance Office (FIO) will likely play an expanding role in insurance regulation, particularly on the international front. The article quotes industry observers who agree, including the following comments from Peter Kochenburger, executive director of the Insurance Law Center at the University of Connecticut:

The federal government absolutely has the right to regulate insurance. That has been decided since 1944, but it has consistently declined the opportunity to do so. * * * It’s a long overdue office, but it has not exercised its jurisdictional authority in any kind of way that assumes it’s going to override the states.[1]

Kathy Burger, Editorial Director of Insurance & Technology, predicts that "for the insurance industry the results appear to be... more of the same."

With Barack Obama reelected, continuation of a Republican House and Democratic Senate, and the so-called "fiscal cliff" looming, it looks as if insurers will be facing pretty much the same kinds of challenges as before the elections. The Affordable Care Act will stay in place, meaning health insurers must navigate the transformation of their industry. Dodd-Frank isn't going away, which means stepped up efforts around reporting, risk management and navigation of "too big to fail" definitions. The world hasn't gotten any less risky, as evidenced by the devastation caused by Superstorm Sandy and this week's Nor'easter. And the competitive landscape in financial services continues to be unsettled, with new kinds of competitors and consumer-driven channels creating new opportunities for education, interaction and service.[2]

Healthwatch, the Hill's Healthcare Blog, seems to agree but also seems to emphasize more.

The new waiting game in healthcare isn’t about the political future of the Affordable Care Act, but rather the huge amount of work that still has to be done to implement it. As expected, the Health and Human Services Department is moving ahead quickly on several key regulations that had been held until after the election.

Since Election Day, HHS has submitted regulations to the Office of Management and Budget on essential health benefits, insurance regulations, wellness programs and quality initiatives.

* * *

With the healthcare law’s political future now assured, the focus over the next few months will be on the states and the rule-making process, and all signs indicate that a new flood of regulations is about to begin.[3]

Unfortunately, according to the Hill and Moody's, more of the same is not good news for insurers:

President Obama’s reelection is... bad news for insurance companies, according to the latest analysis from Moody’s. The Affordable Care Act “will have negative credit implications for insurers based mainly on the additional regulations and restrictions it imposes on insurers,” Moody’s wrote. [4]

PropertyCasualty360 also sees the status quo continuing, and that means that the Affordable Care Act (ACA) is here to stay. However, some insurance industry analysts suggest the health insurance exchanges required under the ACA may be delayed:

Beth Mantz-Steindecker, a health regulatory analyst at Washington Analysis, is suggesting that implementation of the exchanges may be pushed back because so few states are prepared to implement the program.[5]

Other implications of the 2012 elections on the insurance industry, according to the PropertyCasualty360 article, potentially include the following:

Designation of certain insurers as systematically significant by the FSOC could happen soon.

• The release of the FIO's report on proposals to modernize the regulation of insurance regulation is likely imminent;
• The Financial Stability Oversight Council will likely begin designating certain non-banks such as insurers as systemically significant, and potential insurer candidates include American International Group, MetLife and Prudential Insurance;
• Implementation of consolidated regulation of insurance companies which operate thrift holding companies will move forward, although it could be delayed due to insurer objections; and
• The Terrorism Risk Insurance Act may not survive, at least in its current form.[6]

1. Election Brings New Faces and an Expanding Role of the FIO, Chris McMahon, Insurance Networking News, November 8, 2012.
2. Impact of 2012 Election on Insurance: More of the Same?, Kathy Burger, Insurance & Technology, November 9, 2012.
3. Overnight Health: HHS Moving Quickly on Key Regulations, Sam Baker and Elise Viebeck, The Hill, November 12, 2012.
4. Overnight Health..., id.
5. The Election's Impact on Insurance Issues, Arthur D. Postal, PropertyCasualty360.com, November 7, 2012.
6. The Election's Impact..., id.