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| NAMIC dailyLead® |
| March 5, 2009 |
Best calls insurance markets stable
Rating agency A.M. Best says it believes personal and commercial insurance lines will remain stable despite the economic crisis, with upgrades expected to balance downgrades over the course of the year. Best said the field is expected to keep up favorable risk-adjusted capitalization this year as the soft market subsides because of weakening investment portfolios. "With a modest semblance of stability, price levels continue to support reasonable profitability," Best said. PropertyCasualty360.com (3/4)
Florida emergency manager becomes FEMA chief
President Barack Obama selected Florida emergency manager Craig Fugate to lead the Federal Emergency Management Agency. Obama touted Fugate's experience, contrasting his track record of success with the agency's stumbles under the previous administration. "I'm confident that Craig is the right person for the job and will ensure that the failures of the past are never repeated," he said. Business Insurance/Reuters (3/4)
Winter storm prompts fatal avalanche and road delays
Major highways near Lake Tahoe, Calif., were shut down for several hours after a strong winter storm unloaded as much as 6 feet of snow on the Sierra Nevada range. A ski worker was killed in an avalanche at the Squaw Valley USA ski resort. MSNBC/The Associated Press (3/4)
Group buys land to stem flooding in northwest Ohio
The Northwest Ohio Flood Mitigation Partnership will use $3 million in state aid to buy land along the Blanchard River as part of an effort to prevent future flooding. The partnership will buy low-lying homes and land in Findlay and Ottawa and use the property for flood walls and other flood prevention devices. Flooding along the Blanchard has cost millions of dollars and forced hundreds of people to abandon their homes during the past 18 months. Insurance Journal/The Associated Press (3/4)
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Insurers find potential and risk in green buildings
Insurers are creating new coverage lines for environmentally friendly buildings to better respond to the challenges and opportunities they present. Insurers see real growth potential in the emerging "green architecture" segment but worry about evaluating the new standards some building technologies require. "We believe they have a profound economic advantage that has captured the attention of many segments of the business community. We see some indications from retailers like Wal-Mart that sales improve in green buildings," Fireman's Fund Insurance Senior Director Stephen Bushnell said. Insurance Networking News (3/4)
Studies: Cell phones dangerous for walkers, drivers
Cell phones are a danger to motorists and pedestrians, according to two studies that found cell phones have become a life-threatening distraction for both groups. The studies found cell phones can save lives by increasing 911 emergency response times but once the number of cell phones reaches a critical mass of 100 million, they become too much of a distraction and begin to pose a hazard. The studies say cell phones have a "significant adverse effect on pedestrian safety" and "cell phones and their usage above a critical threshold adds to motor vehicle fatalities." ScienceDaily (3/4)
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Professional social networking requires careful selection of contacts
When friends from one social-networking site spill over into another site used for professional contacts, some hard decisions need to be made. Taking your business' corporate culture and policies into consideration as well as your own professional goals are useful strategies for reducing those awkward moments. The National Law Journal (free registration)/Legal Intelligencer (3/4)
How to clear your inbox
Ah, the holy grail: Nothing but a few fresh messages in your e-mail inbox. Farhad Manjoo provides six simple rules to deliver you to this Shangri-La. "Carve out a short amount of time -- perhaps 15 to 30 minutes at the end of the day -- to respond to all flagged e-mail," Manjoo advises. "Remember, your goal is to keep your inbox empty. Each message sitting there should serve as a stark, visible reminder of your undisciplined ways." NYTimes.com (3/4)
Texas bill would allow drunk driving checkpoints
Texas lawmakers are considering becoming the 40th state to allow state troopers to set up checkpoints to search for drunk drivers. Opponents say the roadblocks typically are ineffective and pose serious breaches of privacy. In 2007, the National Highway Traffic Safety Administration found 30,000 people were hurt in drunk driving incidents in Texas, while another 1,292 were killed, more than in any other state. Houston Chronicle/The Associated Press (3/4)
Florida moves ahead with red light camera measure
The Florida House Roads, Bridges & Ports Policy Committee approved a measure that would establish standards for the use of automatic cameras to catch vehicles running red lights. The bill would set the fine at $150 and it would be issued to the owner of the car, no matter who was behind the wheel. The citation would not result in points on the owner's license, and insurance companies would not be able to use the incident against them. The Miami Herald/The Associated Press (free registration) (3/4)
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