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Friday, August 09, 2013

NOAA: Atlantic Hurricane Season on Track to be Above Normal

NOAA 2013 hurricane seasonNOAA issued its updated Atlantic hurricane season outlook today saying the season is shaping up to be above normal with the possibility that it could be very active. The season has already produced four named storms, with the peak of the season - mid-August through October - yet to come.
&nbs...

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Flood-Prone NJ Town Looks to Raise Entire Downtown

New Jersey floodiingAlong the Bayshore, people often say they live on either the "wet" or the "dry" side of Route 36. The distinction was particularly apt during Superstorm Sandy, which brought flooding primarily to comm...

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FEATURE: Adopting A Cultural Risk Management Approach in Senior Living that Focuses On Compassionate Care, Dignity

K&B UnderwritersSenior living providers are increasingly feeling the pressure to mitigate risk and reduce losses while at the same time deliver quality care to residents. These issues will only become more prevalent as health care reforms come into play and an aging population requires even more services from the...

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Florida CFO Asks Insurance Commissioner to Explain Property Insurance Rates

Florida ratesA drop in catastrophe reinsurance costs for insurers has not translated into reduced property insurance rates for Florida consumers, and state Chief Financial Officer Jeff Atwater wants to know why.

Atwater began his quest to find out in an Aug. 7 letter to Florida Insurance Commissioner K...

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The Hartford Broadens Professional Liability Offerings For Technology Companies

Harford Professional LiabilityThe Hartford has enhanced its FailSafe® suite of professional liability offerings to address the evolving needs of technology companies with expanded coverage for data, systems and networks.

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WCIRB California to Propose Regulatory and Rate Changes in Filing

WCRIBOn Wednesday, the insurer and public members of the WCIRB Governing Committee voted unanimously to authorize the WCIRB to submit two filings to the California Department of Insurance (CDI). The first filing will contain proposed changes to the Insurance Commissioner's January 1, 2014 and January 1, 2015

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Liberty Mutual Lawsuit Challenges Closing of New York Reopened Cases Fund

Liberty Mutual lawsuitsLiberty Mutual Group filed a lawsuit challenging the scheduled closing of the state's Reopened Cases Fund, arguing that doing so puts insurers and self-insured employers at risk of addressing more than $1 billion in existing, unsettled...

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Tower Group Warns of Potential Loss Reserve Hits

Tower GroupTower Group International Ltd.'s shares slumped Thursday after the insurance company warned it could record loss reserve hits of $60 million to $110 million for the second quarter.

Shares tumbled 19% to $17.54 in recent trading.

The latest announcement comes after the insurer said Wednesday it was...

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Industry Survey Shows Strong Real Time & Download Use

Real Time campaignEnhanced electronic interface between insurance agents and carriers is enjoying broad agency acceptance and growth, according to a survey conducted by the industry-wide Real Time/Download Campaign. The spring 2013 survey received nearly 2,200 responses from agency and brokerage professionals in all 50 stat...

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