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October 2008

Best Insurance Agent Broker

Independent insurance agents and brokers are concerned about the future of contingent commissions, according to a recent survey. Channel Harvest Research and sponsored by Insurance Journal sponsored a survey conducted by Channel Harvest Research The survey asked agents to rank five issues within the American Agency System in importance on a scale of 1 to 5. Most of the property… Read More »Best Insurance Agent Broker

Workers’ Comp Rates in California

Rejecting the Workers Compensation Insurance Rating Bureau’s (WCIRB) call for a 16 percent increase in the benchmark for determining workers’ compensation costs, California Insurance Commissioner Steve Poizner accepted a more moderate 5 percent increase to reflect higher medical and claims adjustment costs to the system. <!–// –> “Last year, experts predicted that loss adjustment expenses would increase dramatically. They did… Read More »Workers’ Comp Rates in California

Employer Should Help With Health Goals of Worker

The survey, which was conducted online between July 10 and July 21, 2008, by Fidelity Investments, included responses from 1,502 employees working full or part time at employers with 2,000 or more employees. The survey was funded by the NBGH for its members’ exclusive use. Employees say they would like to improve their health status but need their employers to… Read More »Employer Should Help With Health Goals of Worker

Deep Customer Connections, Inc. Announces the 2008 Top Ten Ease of Doing

More than 7,400 independent agents and brokersassessed the performance of over 250 property and casualty carriers in Deep CustomerConnections, Inc.’s (DCC) 6th annual Ease of Doing Business (EDB) survey. DCC isproud to present the top performers in the industry.West Bend Mutual Insurance Company of Wisconsin earned the #1 spot in this year’sindustry-wide Ease of Doing Business Index® ratings. The EDB… Read More »Deep Customer Connections, Inc. Announces the 2008 Top Ten Ease of Doing

Surplus Lines Association of California Increases Stamping Fee

Stamping Fee The services performed by the SLA are funded by a stamping fee assessed for each declaration page, covernote, or other documents bearing premium submitted to the SLA. The fee is based on a percentage of the premium charged. The stamping fee percentage is determined by the Stamping Office and Contact Committee, and approved by the Executive Committee. The… Read More »Surplus Lines Association of California Increases Stamping Fee

Tort Reform Lowers Premiums

A researcher at the University of Iowa has found that tort reform laws do lower insurance premiums and save consumers money, though it depends on where the consumer lives. Ty Leverty, assistant professor of finance in the Tippie College of Business, recently studied how insurance companies respond to tort reform laws passed by state legislatures. The laws are designed to… Read More »Tort Reform Lowers Premiums

Reimbursement for Additional Living Expenses

California Insurance Commissioner Steve Poizner is reminding residents who have been evacuated from fire zones in Southern California that they may be eligible for reimbursement for additional living expenses due to mandatory evacuations. Commissioner Poizner also encouraged all Californians to make sure their insurance policies are updated and to conduct a home inventory.Department is offering a free home inventory guide… Read More »Reimbursement for Additional Living Expenses

16% Decrease in Workers Comp Loss Costs – Colorado

Colorado employers may be paying lower premiums for workers compensation insurance in 2009, due to the announcement that a significant component of workers’ compensation premiums, known as loss costs, will drop 16 percent, the Colorado Division of Insurance announced.Loss costs are the average cost of lost wages and medical payments of workers injured during the course of their employment.