Jewelry Insurance Workshop

Attention Florida agents - Enroll in the Sept 2008 Classes!

This fun, information-packed, one-day course for
8 hours CE credit could save your company millions
in jewelry expense and settlement costs!

Adjusters, underwriters, and agents are a company's first-line of defense in mitigating insurance losses.

Learn the fundamentals of jewelry:

• how jewelers operate and do business
• what's involved in jewelry appraisals
• where fraud is likely to occur
• how you can help customers
• how to improve internal handling procedures
• how to cut settlement costs
• how ACORD standards protect insurors
• lots more (pdf brochure)!

Based on over 800 attendees in the past year, the workshop was rated 4.4 overall on a 5-point scale!

J I W

Welcome to United Marine Insurance's Professional Fishing Boat Quote Centre

From estuary trawlers to ocean perseiners United Marine is a leader in arranging insurance for Professional Fishers operating anywhere in the Australasian, Pacific and South East Asian regions. We have access to a wide range of specialist insurance underwriters which can lead to substantial savings and a wider more secure cover for your professional fishing boat requirements. Like you, we're not just fair weather sailors, our service is a 24/7 obligation, especially in respect of claims after all we're your broker looking out for you.........GET More Here

Coloradans Spent $26 Billion in Insurance Premiums in 2007

Where do Coloradans spend their insurance dollars? During 2007, Colorado citizens paid over 26 billion dollars in premium to approximately 1,306 companies, with 27 companies accounting for more than 50 percent of that total, according to the Colorado
Insurance Industry Statistical Report (for 2007) released by the Colorado Division of Insurance.The report reflects some interesting statistics: Although carrying automobile insurance is mandatory, and purchasing health insurance is not, Coloradans spent more in 2007 on accident and health
insurance premiums, which represent 33 percent of the total insurance premiums paid in Colorado. Behind accident and health totals, the second largest premium volume was for annuities, with 16
percent of the total premium. Automobile insurance tied for third place, along with deposit-type funds (such as guaranteed investment contracts), with each accounting for 10 percent of the annual premiums. Life insurance accounted for 7 percent of Colorado's total premiums.

"The statistical report can be very helpful because it illustrates the financial status of companies engaged in the business of insurance in Colorado and reflects which lines of business account for the largest payments of premium by Colorado consumers," said Marcy Morrison, Commissioner of Insurance. "It shows the value that consumers place on insurance, and provides a snapshot of the general financial health of the insurance industry by showing loss ratios as well as premiums earned."

A loss ratio is the ratio between the premiums paid to an insurance company and the claims settled by the company and is usually expressed as a percentage of losses incurred to premiums earned. A
higher loss ratio means that more of the premium dollar went toward claims and benefits, and less to overhead and profit.

The primary purpose of the Annual Statistical Report is to document the financial status of companies engaged in the business of insurance in Colorado. It includes information related to commercial
insurers, health maintenance organizations, non-profit organizations, captives, self-insurance pools and represents figures as of Dec. 31, 2007, the last complete year for which data is available.

To view the 2007 Colorado Insurance Industry Statistical Report, visit:
http://www.dora.state.co.us/insurance/pb/supporting%20documents/mktrFinal2007StatReport082208.pdf.

Source: DOI

Untrustworthy Insurance Agents Will Lose Licenses in Washington

Insurance agents in Washington state can lose their licenses if they are deemed "untrustworthy."In an important decision, the Washington State Court of Appeals ruled that Insurance Commissioner Mike Kreidler was correct in revoking insurance agent Jack Chandler's license based on the fact that he had shown himself to be untrustworthy in his sales conduct with elderly consumers.The court also agreed with the Commissioner that Chandler attempted to exploit senior citizens by using misleading marketing tactics to get them to buy reverse mortgages, living trusts and long-term care insurance. He also misrepresented himself on his Washington licensing application when he failed to disclose complaints against him in California.

As a result of Chandler's actions, the Insurance Commissioner revoked his insurance license in 2002. Chandler appealed that decision on the grounds that the term "untrustworthy" is unconstitutionally vague and subjective. The court disagreed and upheld the license revocation. Chandler then attempted to appeal to the Washington State Supreme Court, but his petition for review was denied.

"Mr. Chandler preyed on some of our most vulnerable citizens and I cannot allow that to happen," Kreidler said. "While this case took several years to reach conclusion, it was worth every minute. I am very satisfied with the result."

For more information, visit www.insurance.wa.gov.

Source: DOI

Louisiana Insurance Commissioner Says Department on Alert for Gustav

Louisiana Insurance Commissioner Jim Donelon held a press on Thursday, Aug. 28 to discuss the preparations made by the Department of Insurance (DOI) in the event the state is impacted by Gustav as a major hurricane. The storm is expected to hit the Gulf Coast as early as Monday, Sept.1. Reports show the storm has caused damage, injury and death as it makes its way from Domican Republic and Haiti to the Gulf region.

Commissioner Donelon says the DOI implemented its Continuity of Operations plan (COOP) on Tuesday (Aug.26). The COOP plan ensures that the DOI will continue to function with minimal interruptions in the event of a disaster.

Donelon adds that all divisions of the DOI have met with their staff and each division has a plan ready to implement if Gustav strikes. Preparations made by DOI staff include the following: Insurance Company Emergency Adjuster Registration program prepared in case claims adjusters need to be sent to disaster areas; online registration ready.

· Call center ready to be activated by Property & Casualty Consumer Affairs Division; phone scripts prepared.

· Travel teams assigned and ready for dispatch to Disaster Recovery Centers statewide.

· All insurance company contact information updated and ready to distribute to public and for call center staff.

· Packets of consumer information (complaint forms, brochures, etc.) assembled.

· Employee Emergency Response System ready to instruct staff in case of office closure; all staff emergency communications equipment ready.

· Remote site(s) for meeting with insurance industry selected (England Air Park - Alexandria, Louisiana; Atlanta, Dallas, Houston or Memphis).

· Remote site for DOI operations at England Air Park in Alexandria ready in the event Baton Rouge offices rendered uninhabitable.

· Emergency Insurance Rules prepared.

· Office supplies stocked and computer back up servers ready at remote locations.

Donelon says following Hurricanes Katrina and Rita in 2005, he and the staff of the DOI encountered new situations that have them well prepared for Gustav. "The property destruction caused by those storms forced us to get creative and think of innovative plans for working with consumers and the insurance industry," he says. "I will continually meet with our staff to ensure the continuity of operations of this department if this or any other hurricane impacts our state."

Donelon also offers the following tips for consumers to prepare for an approaching storm:

· Make a record of your personal property. Take an itemized inventory of all furnishings, clothing and valuables to help your adjuster in case of a claim. List model and serial numbers and attach sales receipts if possible. It is also a good idea to take pictures and/or make a video log of each room and the exterior of your home.

· Protect your insurance policies and other important documents. Make sure you keep copies of your policies and your inventory list in a secure place like a safety deposit box, or store them in a watertight box you can take with you in case of an evacuation. Make sure to include with your records the name of the agent who wrote your policy. Let family members or trusted friends know where to find your records in case you are unable to retrieve them after the storm.

· Plan for the worst. Make a plan of action in case a storm hits. Designate two meeting places for your family: a location in your home in case of flash flooding or other immediate disaster, and a location outside your neighborhood in case you cannot return home. Designate an uncluttered, windowless area in a lower level of your home as a shelter, and conduct tornado drills there each season. Have an out-of-state contact that everyone should "check-in with" in case of separation during a storm. It is often easier to call out-of-state during a disaster.

Important Planning Steps:

· Post emergency telephone numbers.

· Show responsible family members how and when to shut off water, gas and electricity at main switches.

· Make sure all battery-operated appliances are in working order and keep back-up radios and flashlights on hand.

· Make emergency arrangements for your pets. Since most shelters will not take pets, you should call your vet or local Humane Society to find out where you can take your pets in case of an evacuation.

There are six basics you should stock in your home to prepare for the worst:

1. Water - store at least one gallon of water per person per day. You should get a three-day supply of water for each person in your household.

2. Food - store at least a three-day supply of nonperishable food items. Select foods that require no refrigeration, no preparation, no cooking and little or no water. Also, make sure the items are compact and lightweight.

3. First Aid Kit - assemble first aid kits for your home and car that include sterile bandages and pads, scissors and sewing kit, soap, antiseptic and nonprescription drugs.

4. Tools and Supplies - make sure you have a flashlight and battery operated radio with extra batteries, cash or travelers checks with change, and sanitation items like personal hygiene supplies and disinfectant.

5. Clothing and Bedding - pack at least one complete change of clothing and sturdy footwear per person. Include blankets or sleeping bags for bedding.

6. Special Items - remember family members with special needs, such as infants and elderly or disabled persons. Remember to pack any special diet foods and pet foods, as well as any prescription medication. Include books and games to pass the time.

7. Protect important personal items such as family photos, etc.

Source: Louisiana Department of Insurance

Connecticut Says Use of Fake Auto Insurance Cards Growing

Counterfeit auto insurance cards have been a problem for years, say Connecticut insurance officials, but recently, the department's fraud and investigations' divisions have been seeing seen a lot more of the cards.

All Connecticut drivers are required to carry the cards - which show current policy information - in their cars at all times. But a faltering economy mixed with the state's auto insurance requirements has led some to but a phony card in lieu of a policy.

"While, legitimate insurance coverage provides protection for you, your family, and other people injured in a motor vehicle accident, trying to use fake insurance leads only to trouble," the department said in statement.

Driving without insurance is a motor vehicle violation in the state.

For those who believe they were tricked into purchasing illegitimate insurance coverage, the department is urging consumers to verify their agent's licenses, which can be done through the department's home page.



Source: Connecticut Insurance Department