Eppinger: Regulators Who Don't Know Insurance Taking Up Too Much Time | Leonardi Unloads on NAIC

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December 17, 2013 PropertyCasualty360.com
First Notice Leonardi Unloads on NAIC Corporate Governance; Calls for Outside Review By Elizabeth Festa, PropertyCasualty360.com The NAIC Executive Committee meeting erupted into a biting referendum on the NAIC itself Monday, with Connecticut Insurance Commissioner Tom Leonardi motioning to hire an outside firm to conduct a corporate-governance review.…Read more Slideshow Top 10 States with the Worst Drivers By Laura Mazzuca Toops, PropertyCasualty360.com, Caterina Pontoriero, PropertyCasualty360.com Just in time for holiday travel, find out if your state is the worst.…Read more Industry News Eppinger: Regulators Who Don't Know Insurance Taking Up Too Much Time By Anya Khalamayzer, PropertyCasualty360.com The regulatory scrutiny that followed the financial crisis is forcing insurance CEOs to spend an inordinate amount of time on compliance to solve problems that do not exist and satisfy regulators who "don't understand the industry," according to Hanover Insurance Group's chief executive.…Read more Study Quantifies Hikes in Auto Insurance Rates from Filing a Claim By Bonnie Cavanaugh, PropertyCasualty360 Drivers who file an auto insurance claim will see their rates climb by an average of 38% nationwide, while those who file two claims within a 12-month period can expect to pay nearly twice as much as claim-free drivers, a new report says.…Read more NICB: QCs Rose 23 Percent in Florida from 2010 to 2012 By Christina Bramlet, PropertyCasualty360.com Unsurprisingly, PIP-related losses account for the most QCs in each of 3 years analyzed by the National Insurance Crime Bureau.…Read more Get in-depth coverage of specialty lines of insurance on PropertyCasualty360.com's Featured Lines pages. Get the info you need today! Okla. Supreme Court Clears Workers' Comp Law, but Future Remains Unclear By Arthur D. Postal, PropertyCasualty360.com The Oklahoma Supreme Court Monday cleared the way for the state to implement an administrative system for resolving disputed workers' compensation claims. However the decision left industry trade groups at odds over the outcome. …Read more La. Citizens Personal Policies to Drop Below 90,000 After Next Depopulation By Anya Khalamayzer, PropertyCasualty360 The market share of Citizens Property Insurance Corporation, Louisiana's insurer of last resort, is estimated to shrink to under 3% for the first time in six years following a seventh round of depopulation in 2014.…Read more The Shortcut to Modernizing Systems Without a Complete Overhaul By John Sarich While insurance companies understand that improving technology would be beneficial, change is often too difficult and daunting to take on while still maintaining full-business services. The good news is there is a relatively simple path insurers can take to modernize quickly and smoothly …Read more UK Competition Watchdog Says Motor Insurance Too Expensive By Chris Vellacott, Reuters, Li-mei Hoang, Reuters Car insurance in Britain is too expensive because of complexity in the claims process and a lack of incentives to keep costs down, according to the country's competition watchdog.…Read more Editors' Picks Top 5 Next-Gen Technology Trends for Insurers 10 Tips to Prepare for the Aging Insurance IT Workforce 10 Challenges and Opportunities for Agents and Brokers in 2014 The Six Trends of Cyber Risk in 2014 10 Strategies to Combat the Rx Abuse Epidemic - An Insurer's Perspective I have continually stated it is a true horror for insurers to be regulated by people who are from or only understand the banking industry. Whether banking regulators are naturally ignorant or have achieved ignorance about insurance is not relevant: either way they should not be regulating the U.S. insurance industry. — Barry Rabkin, FSOC Insurance Members Criticize Council's Approach to Insurance Issues Featured Lines Environmental Insurance Subscribe to our eNewsletters Get the best of PropertyCasualty360.com, from market trends and news to the analysis you need – it's the information you need to solve your biggest business problems…so you can sleep at night. Check out PropertyCasualty360.com eNewsletters!
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18 Dec, 2013

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