Today the Insurance News Network reported the results of the 2005-2006 MetLife Employee Benefits Trend Study, which focused on Baby Boomers in the workplace.

And, while the survey identified the current problems of Boomers and retirement (lack of financial planning, saving, etc.), it did find that interest in long-term care insurance has grown leaps and bounds since last year—16 percent of Boomer employees ranked LTC as the most important employer benefit, up 8 percent from the 2004.

The survey reported that nearly half of all employees surveyed worried about providing for their long-term needs, as well as that of their spouses. And while 81 percent of large companies (25,000+ employees) are now incorporating LTC into their benefits packages, many Boomers aren't yet receiving the benefit.

This is great news for LTC agents, who, as I've learned through my reading and research, can be easily frustrated by the lack of immediacy in LTC sales. Frustration aside, LTC sales can be quite lucrative (as you well know) and now's the time to get on top of your game.

Get started by checking out our articles:

• Selling Long-Term Care Insurance: Tips from the Pros


• Selling to Baby Boomers: Debunking the Myths


• Marketing to Female Baby Boomers: Growing Numbers Require a Different Approach.

And, if you'd like to divulge any tips or best practices, be sure to do so via "Comments". Or as I like to call it, "Sharing the Love".

[ADDITIONAL READING]: Check out our Baby Boomer post from last week here, and the full INN article here (subscription free!).

Posted by Megan Mahan at 11:49 PM | Permalink | Comments (1)
 

I came across a moving article today regarding the Mardi Gras celebration in New Orleans, just six months after Katrina ravaged the city. It conjures some great imagery and incredible juxtapositions between the colorful, exuberant celebration of Mardi Gras and the utter devastation that still lies mere blocks from Bourbon Street.

If you have the time, it's definitely worth checking out.

Source: Insurance Journal, Associated Press

Posted by Megan Mahan at 12:00 AM | Permalink | Comments (0)
 

With more and more consumers turning to the Internet to shop for and buy insurance, more and more insurers are realizing the importance of incorporating quality content into their Web sites.

As some of you might know, the Insurance Journal unveiled a great new
resource in 2005 to help agents meet these changing needs: the "How to Write" seminar series.

The seminars consist of live, interactive broadcasts and are focused on helping insurance professionals evolve with the times and grow their businesses accordingly.

Because the '05 seminars were so popular, the Insurance Journal is bringing them back for 2006. The new lineup is set to come out sometime next month (March) so click here to register—and check back for the '06 seminar schedule. Oh, did I mention registration is completely FREE for insurance professionals?

And, to help fill the void the Insurance Journal has temporarily left, check out our article, "Writing Web Articles: The New Key to Success". It's sure to bring out the Hemmingway in you—and grab the attention of Web users looking for what you have to offer.

And remember, my fellow Agent Blogger, Penny and I are here for you! We're full-time copywriters, so if you have any questions as you start writing your Web articles, don't hesitate to ask. We'd be happy to help, and not because it'll impress the boss. We actually like it. A lot.

Happy writing!

Posted by Megan Mahan at 11:05 PM | Permalink | Comments (5)
 

Here's a quiz for you today: Do you know the difference between busyness and actual productivity?

Good time management!

As I was reading a back issue of the Insurance Journal today and contemplating that simple truth, I realized just what a cord it struck for me.

Like many of you, I often struggle with prioritizing my time. I want to accomplish so much more than there's really time for, yet I'm not sure what's most important.

But this article showed me that the measure of my success lies in understanding my goals, then using them to prioritize my tasks so I can generate maximum revenue every day.

Sounds like a no-brainer, right?

We all want to be successful. But sometimes we make the simplest things way too difficult. I know I do!

If time management isn't exactly your strong suit, I suggest you join me in reading this article by an insurance management consultant. It might just open your eyes, like it did mine. :)

Oh and, while we're on the subject, check out InsureMe's article on the same subject, entitled "Managing Your Time for Maximum Results."

Here's to a relaxing weekend—and anything but another manic Monday!

Posted by Penny Hagerman at 09:46 PM | Permalink | Comments (0)
 

Yesterday, P&C blog IndemniBlog posted on California's plans to expand its state-run auto insurance plans to provide coverage for low-income drivers.

The gist:

Qualifying households (that fall within 250 percent of the poverty line and include a driver with no more than one point on their driving record) can receive coverage, that by the way, falls below the California's minimums. Under the low-income plan, drivers would receive $10,000 in bodily injury coverage per person, $20,000 per accident and a mere $3,000 for property damage.

While the objective of the program is to provide the state's 3 million uninsured drivers with affordable coverage, the host of IndemniBlog feels the state is doing a disservice to its residents by offering the program, mostly due to the extremely low coverage amounts.

"Any agent that is advocating these levels of liability coverage does not have the best interest of their insured's at heart," says IndemniBlog.

The blog also points out that the designated $3,000 for property damage is a joke:

"[...] You're fooling yourself if you think that $3,000 can adequately cover damage to a vehicle you hit! A bare bones Honda Civic costs more than four times the limit of liability you are being insured for."

Personally, I have mixed reactions about the plan.

I agree with the folks at IndemniBlog regarding the coverage limits, but on the other hand, even a couple thousand dollars is better than having no coverage at all, right? Not to mention it'll get more motorists to drive legally (IndemniBlog's source, the San Jose Mercury News, reports that thousands of drivers in San Francisco and LA sign up for the plan during a six-year test period).

Alternatively, however, I do think there's a danger in offering auto insurance at these low levels. My guess is, a lot of folks would decrease the amount of coverage they carry if they knew they could do so. And I hardly think driving underinsured should be promoted by the state.

But because I don't like to sit on the fence about anything, I'm going to say that I don't think the plan is a horrible idea. It'll encourage some drivers to get coverage because they know they can afford it, which may ultimately decrease insurance costs for insured drivers. That said, it's definitely not a cure-all for California's uninsured motorist problem. But what is?

Take a look at the IndemniBlog post over the weekend and come back to the InsureMe Agent Blog with your thoughts on Monday. There will be a quiz.

Alright, there won't be, but I hope you all have opinions and ideas to share.

Have a great weekend!

Posted by Megan Mahan at 08:49 PM | Permalink | Comments (3)
 

If you're a North Carolina auto insurance provider, you might want to warn your customers not to let their auto insurance lapse at renewal time.

Why? Because they might just get their license plates revoked.

At least 5,300 drivers across the state have now had their tags confiscated by local law enforcement for driving without insurance, according to today's story in a national insurance publication known as Claims Guides.

This recent statewide measure, which took effect last December, was initiated in an effort to curb driving without auto insurance, and to lower auto insurance rates for drivers who do carry insurance.

"All they [local officials] were doing was giving a $50 citation, and the person drives away and still doesn't have insurance," said state representative Dale Folwell, who introduced this recent legislation.

In a matter of minutes, local officers can remove a car's plates—leaving the driver watching helplessly nearby.

"The purpose is to reward people who are doing the right thing...and to punish those who aren't," Folwell said.

So make sure your clients know the risks of dropping their car insurance. Otherwise, they may soon be hopping the bus!

[Get the whole story here.]

Posted by Penny Hagerman at 11:01 PM | Permalink | Comments (0)
 

Earlier this month, we posted about the resignation of Louisiana Commissioner Robert Wooley who took over for former Commissioner, Jim Brown after he was sentenced to six months in prison for lying to the FBI.

Now, Brown speaks with the Insurance Journal about the ups and downs of his career in an interview published today. In the interview, Brown disputes his guilty charge following 57 counts of insurance fraud (which were later thrown out) and how the "major effort' by the federal government to "go after" then-governor Edwards contributed to his persecution.

Brown also talks about his guilty sentence, his time in prison and how it spawned his "labor of love", Justice Denied, a book chronicling his experiences. In addition to the legal drama, the former commissioner also comments on the chaos of Katrina-ravaged Louisiana.

It's an interesting interview. You can listen to it here, courtesy of the Insurance Journal.

[BONUS LINK]: Jim Brown hosts his own Web site where he posts to a blog, answers questions from readers, comments on insurance news and posts photos and thoughts about post-Katrina Louisiana (including the song for New Orleans by Andrew Gregory). Check it out—it's a goodie.

Posted by Megan Mahan at 10:20 PM | Permalink | Comments (0)
 

So there's a rumor on the street that the first of the Baby Boomers turned 60 this year. Have you heard this crazy gossip?

If you're like me, you probably feel browbeaten by the all recent cliche financial planning commercials playing to this age group. And, while I agree that these commercials are cheesy (and ineffective), financial institutions are right to target America's 78 million Baby Boomers.

Why target Baby Boomers?

First of all, the spending power of this generation is, in a word, ridiculous. What kind of figure corresponds with a word like "ridiculous?" $1 trillion dollars. And that money is going toward new cars, homes, healthcare, and investments—all of which need insurance and financial planning.

Which brings me to point number two: Baby Boomers need what you have to offer. Not only do they need adequate car, home, health and life insurance—they're looking for financial planning and advice, too.

You've probably heard the staggering statistics that an estimated 80 percent of Boomers lack sufficient funds to maintain their standard of living through retirement. Combine that with new studies showing that life expectancy has increased by 30 years in the last century, and we're talking about folks that need a sizeable nest egg to get through their golden years, and they need to build that egg quickly and steadily.

And that makes you their go-to guy or gal.

Not sure how to tap this enormous resource? Check out InsureMe's article, Selling to Baby Boomers: Debunking the Myths for tips on connecting with Boomers.

[RECOMMENDED BOOMER READING]: Chuck Nyren's credentials are too long to list here, but he's got a great blog centered on advertising to Baby Boomers. MatureMarket.com is also a great Boomer resource for news and info around the world. I found a great article today entitled, Baby Boomers Like Attributes of Annuities.

Check it out and let me know what you think!

[UPDATE]: Please see Chuck Nyren's comment and the link he posted—it includes some great tips for those of you looking to tap the Baby Boomer well!

Posted by Megan Mahan at 10:40 PM | Permalink | Comments (2)
 

If you're looking for a great way to expand business opportunities and draw in loads of customers, try establishing your own personalized Web site.

According to one site for agents, there are some basic reasons every agent should have their own Web site, including:

1. Your prospects assume you have one.
2. Your competition hopes you don't.
3. It helps improve your professional image.
4. It helps you expand your market.
5. You'll spend less time on the phone educating your clients.
6. You'll be open for business 24/7.
7. Prospects can browse carrier information right on your site, when they're ready to buy.
8. It sells your company for you.
9. It's affordable, and pays for itself in short order with new business gained.

A well-designed Web site provides a quick, easy way for you and your customers to find one another and do business.

If you don't have a site of your own, consider establishing one. This article from InsureMe will help you make it personal and attractive so you can draw in those customers you need.

Here's to a winning Web site—and your success!

Posted by Penny Hagerman at 05:43 PM | Permalink | Comments (0)
 

2005 was the year of researching and purchasing auto insurance online, says comScore Networks, a company which analyzes Internet usage to measure and understand consumer behavior and attitudes.

The recent comScore analysis showed a dramatic increase in the total number of auto insurance quotes submitted online, up 24 percent in 2005; online auto insurance purchases jumped 29 percent in 2005.

Why the increase?

Nicolas Tabbal, VP of comScore's Financial Division points out that consumers are becoming more comfortable conducting business online.

Another factor in the spike: consumers are finding what they need online, including informational articles on auto insurance, a menu of coverage options and recommendations tailored to their specific needs. As a result, quote requests submitted at insurer Web sites jumped 75 percent this year.

How can insurance agents take advantage of this trend?

Spend some time updating your Web layout.
When it comes to your Web site's layout, it should be as clean and easy to navigate as possible—especially when it comes to informative articles and agency information. Not sure what elements you'd like to incorporate into your Web site? Take a look at your favorite sites and incorporate these practices into your site.

Make contacting your agency easy.
Beef up the FAQ section of your Web site to give consumers a way to reach you with additional questions. Phone contact should also be easy and straightforward—instead of putting callers through infuriating multiple phone menus, try to simplify options to fit into one or two menus tops.

Expand your payment options.
It's the 21st century and time to get with automatic withdrawls and/or online bill pay. Expanding your payment options will be of great convenience to your clients and will cut down on the amount of administrative duties in your agency— saving you time and money.

With online auto insurance trends projected to continue, insurers who don't use the Web to attract new clients and maintain their existing client base will undoubtedly fall behind.

Don't worry. We won't leave you hanging. Check out our article, Eliminating the Hoops: Streamlining Business Practices, for more tips and how-to ways to get in the game.

[Check out the original source of the comScore findings here. ]

Posted by Megan Mahan at 10:39 PM | Permalink | Comments (0)
 

No, it's not what you think—they haven't stopped talking altogether.

But their mascot, that whimsical duck, definitely has!

Insurance NewsNet reports today that Aflac is now taking a "quieter approach" to insurance marketing using the old silent movie technique.

Some of you may have already seen their new commercial, which depicts a heroic Aflac duck saving a woman tied to a train track as an oncoming train approaches, just like in the old black-and-whites.

Of course, the duck rushes in like a knight in shining armour and saves the day—and the woman.

About this strategic move by the company, Dan Amos, Aflac chairman and CEO, says,

"While we strive to create commercials that are entertaining, we also want to convey a message that is relevant to consumer needs....we recognize the financial bind that many families endure while struggling to balance living expenses with rising health care costs. Our products are designed to help ease that pressure, and the new commercial serves as a metaphor for this."

I don't know about you, but I think I'll enjoy the quiet for a while.

Besides, I never knew ducks could make such strange noises. Silence really is golden....[Get the entire scoop here.]

For some more conventional tips to help you with your own marketing efforts, check out InsureMe's article entitled, "Successfully Marketing Yourself & Your Business."

We welcome your feedback. (But please...whisper!....)

Posted by Penny Hagerman at 06:16 PM | Permalink | Comments (0)
 

Senator Trent Lott of Mississippi has become "just another homeowner" in his quest to collect on a home insurance policy for hurricane-related damages following Hurricane Katrina last August, says CNN.com.

An angry Trent apparently filed suit against his insurer, State Farm, after his $375,000 home was destroyed, then proceeded to vent his frustration on the senate floor last December in an effort to bring the issue to the forefront.

Pounding his fist, Lott was reported to have said that "...insurance companies better do the right thing or there will be hell to pay...."

Lott apparently feels the frustration of other homeowners like him who neglected to purchase flood insurance in one of the most hurricane-prone areas of the Gulf Coast.

A rather expensive lesson to learn for a man who, without his public role, is "just another homeowner," wouldn't you say?

Posted by Penny Hagerman at 09:40 PM | Permalink | Comments (0)
 

Children between 8 and 12 years old are dying at a rate of more than one a day, the Insurance Journal said today, causing the Automotive Coalition for Traffic Safety (ACTS) to raise questions about how frequently kids in this age range are wearing seat belts.

In fact, the non-profit group released the findings of a recent survey of "tweens" in Dallas and Joplin, Mo., which found that one-third of children and half of the 12-year olds surveyed, sat in the front seat (all children are advised to ride in the back seat until age 13).

Furthermore, in Joplin, 63 percent of the children surveyed said they always wear their seat belts, while about 53 percent of Dallas children said they were always buckled up.

According to the Insurance Journal, safety experts are concerned with the survey's findings because the figures trail far below the national seat belt use rate of 82 percent, and further highlights the troubling average that one youngster is fatally wounded in an accident per day.

Mark Rosenker, acting chairman of the National Transportation Safety Board said the survey's findings were indicative that too many children under the age of 12 are not properly restrained in rear seats.

To help combat this issue, the government and several safety groups are discussing ways to improve child passenger safety as part of an annual campaign, reports the Insurance Journal.

The Insurance Journal also points out that the campaign came a week after singer Britney Spears was photographed driving with her infant son in her lap, rather than strapped into a car seat.

While the Transportation secretary called Spears "irresponsible", her actions also set the tone for the ACTS survey, which found that parental influence played a large factor in whether kids would buckle up: more than 9 in 10 children of parents who always wear seat belts reported that they follow suit. But among kids whose parents do not always wear seat belts, only about 6 out of 10 say they always wear a seat belt.

The ACTS recommends that parents lead by example and buckle up themselves, no matter how short the drive. The ACTS also suggests letting kids choose the radio station in exchange for sitting in the back seat and clicking in, as well as stressing that wearing seat belts is required by state law--all of which will promote good habits and keep kids safe in the car.

[Read more about "tween" safety at www.tweensafety.org. ]

Posted by Megan Mahan at 08:11 PM | Permalink | Comments (0)
 

Men and women don't see eye to eye when it comes to rating each other's driving skills, says the Insurance Journal.

I'm going to go out on a limb here and say most of us already knew this, but the Chrysler Group decided to put some numbers behind it. Their "Bad Weather Driving" survey polled more than 1,000 adults, reports the Insurance Journal, revealing that 68 percent of men claim to be better drivers than their significant others.

Alternatively, 49 percent of women think they are equally as skilled as their male partners; 26 percent think they are better drivers than their significant others.

I'm going to leave the Mr. Obvious comments to you all, but something tells me the Chysler Group could have channeled their efforts into something more constructive. Say, a survey detailing the percentage of men who don't stop and ask for directions, or women who've gotten out of a speeding ticket by batting an eyelash. Because those are some stats we can really use in driving debates with our significan't others!

Back with more insurance happenings on Monday. Have a great weekend, everyone.

Posted by Megan Mahan at 06:24 PM | Permalink | Comments (0)
 

Did you know that poor writing makes your agency appear unprofessional—and costs you money, too?

Bad writing skills adversely affect many companies' bottom lines today, according to Jack E. Appleman, president of SG Communications, LLC.

In a recent Insurance NewsNet story, Appleman stressed the importance of clear communication and professionally-worded emails, client letters and proposals in the modern world of business.

If you want to save your agency time and money—and convey professionalism—Appleman suggests the following steps to better your writing skills:

By improving writing skills, your entire company can become more efficient, productive and profitable.

Try Appleman's suggestions for yourself and see if it helps increase your company's bottom line. Then let us know the results...we'd love to hear from you!

Posted by Penny Hagerman at 04:59 PM | Permalink | Comments (0)
 

While Florida's current insurance commissioner, Kevin McCarty, was appointed by (and answers to) the elected Cabinet, several lawmakers are proposing something to the contrary.

The Insurance Journal reported today that bipartisan efforts by some Florida lawmakers are supporting a constitutional change to return the job to an elected Cabinet post.

Proponents of the measure say that ballooning property insurance premiums following major hurricanes now have the public feeling that the insurance process is skewed against them.

According to the Insurance Journal, the position of insurance commissioner became an appointed post in 1998 when Florida voters dialed down the Cabinet from six members to three, plus the governor. At that time, lawmakers decided that appointing insurance commissioners would eliminate some of the politics from the position and furthermore decided that elected candidates would be barred from taking campaign contributions from the insurance industry.

But as Florida homeowners saw premium hike after premium hike, they began to feel slighted and powerless, argue the measure's proponents.

Now, I hate to point out the obvious, but Florida sees a lot of hurricanes. And while I understand that the public needs to feel some sort of responsibility [read: control] over the insurance regulations in their state, if I were a Florida home or business owner, I'd expect to be paying a fair amount to insure my property. And, I'd probably expect that with eight hurricanes in two years, insurers would need to increase their rates to cover their risk or they'd go out of business. And then Florida home insurance would be akin to New Jersey auto insurance, it'd be a mess and Florida residents would be even more upset.

But my theoretical diatribe begs the question: should the job of Florida insurance commissioner be an elected post? Because to be honest with you, I'm a copywriter who writes about insurance (hey, don't believe what you hear--it's glamorous.) and would like to hear how other industry experts feel.

So check out the Insurance Journal's article and let me know what you think!

Posted by Megan Mahan at 10:02 PM | Permalink | Comments (3) | TrackBacks (1)
 

According to recent data released by The Bureau of Labor Statistics (BLS), insurance industry employment is on the rise.

The BLS, an offshoot of the U.S. Department of Labor, recorded an increase of 900 insurance-related jobs in December 2005, and another increase of 2,500 in January of this year.

Areas showing the largest gains included:

In addition, A.M. Best reports January nonfarm payrolls were the strongest since September 2003, increasing by 1 percent.

What does this suggest?

The future is looking strong for insurance providers...and I'm sure that's music to your ears!

Posted by Penny Hagerman at 09:15 PM | Permalink | Comments (0)
 

Despite the visible rift in the Senate, both parties met in the middle last night as legislators put the proverbial foot down on a major piece of asbestos legislation.

The proposed $140 billion private asbestos trust fund was designed to remove asbestos cases from the civil courts and speed payment to victims of asbestos exposure from the private fund, reports the Insurance Journal. The funds from the proposed trust were to come from manufacturers, insurers and other businesses affected by asbestos litigation; the Department of Labor would have been responsible for overseeing payments.

According to the Insurance Journal, some opponents of the measure feared that there wouldn't be enough money to cover all the claims, and would require a taxpayer bailout as a result. Still others said they were concerned that the bailout of large corporations could shortchange asbestos victims.

Nonetheless, the measure's co-sponsors, Sen. Arlen Specter and Sen. Patrick Leahy vow to bring the bill back for another go-around. Specter asserted that the trust is an essential tool to "solve the worst litigation crisis in the history of the American judicial system."

A May, 2005 report by the RAND Institute for Civil Justice found that the number of asbestos claims continues to rise--730,000 claims have been filed, with over 200,000 pending.

The asbestos issue is undeniably important to our health and economy, and as claims continue to rise, I think many of us in the insurance industry will be keeping our eye on the outcome.

[The Insurance Journal, on the asbestos ruling.]

Posted by Megan Mahan at 11:02 PM | Permalink | Comments (0)
 

Employers and insurers should prepare themselves to deal with the thousands of injured servicemen and women returning from the war in Iraq and Afghanistan, according to a paper by the Insurance Information Institute (III).

Tens of thousands of injured veterans will now be counting on their doctors, employers and insurers to help them weed through numerous personal, financial and emotional situations as they reintegrate into society.

According to a story in today's Insurance Journal, a total of 16,598 military personnel were physically wounded in action from the beginning of the war in March 2003 through the end of last month.

Add to that the variety of psychological and emotional issues war veterans face, and you have a veritable cornucopia of sitations that must be dealt with head-on.

What should insurers be aware of as war-weary customers reappear on the scene?

So how will Johnny fare concerning these issues?

Only time will tell...but let's be there to lend our support.

Posted by Penny Hagerman at 10:21 PM | Permalink | Comments (0)
 

An interesting article caught my eye in today's Insurance Journal. Since it is Valentine's Day, I thought it appropriate to share :).

Apparently, every woman's best friend—or diamonds as they are better known (I would have argued chocolate, but that's just my opinion!)—sometimes aren't forever.

In fact, they're often lost forever, much to the chagrin of their owners.

What happens to make these glorious creatures disappear into never-never land? Well, they get:

Since, according to the story in the Insurance Journal, diamond jewelry may or may not be covered under the owners' property insurance, the loss of a girl's best friend may prove more than emotional...it may also be quite expensive!

So let your customers know the dangers of losing, misplacing or underinsuring diamond jewelry, whether a gift from their spouse or loved one this Valentine's Day, or a purchase they made for themselves. They'll thank you for the advice...and hopefully keep that diamond for years to come.

Now, where's that chocolate? I know I saw some around here somewhere....

Posted by Penny Hagerman at 09:50 PM | Permalink | Comments (0)
 

As I perused my favorite insurance sites for some noteworthy post material today, it occurred to me that here at the InsureMe Agent Blog, we haven't posted anything positive, per se, regarding the happenings in the insurance industry. Rather, in the last few days, we've posted about crooked insurance commissioners, deceitful hospitals, placenta-snatching insurers and what's looking to be a nasty hurricane season.

Where is the love, I asked myself as I read about insurance scams on Katrina victims and the recent conviction of Okla. Commissioner, Carroll Fisher.
So, in the spirit of Valentine's Day, I set out to find some nice, loving insurance news. And what do you know, I actually found some.

St. Paul Travelers insurance, a Minnesota-based insurance company, and its two private foundations (St. Paul Travelers Foundation & St. Paul Travelers Connecticut Foundation) have contributed more than $15 million through over 400 grants to organizations throughout the community geared toward development, education and the arts and culture. The grants, says Marlene Ibsen, president of the St. Paul Travelers Connecticut Foundation, are a great way to help build stronger communities and economic opportunities for citizens.

Accomplishments during Travelers' fourth quarter (2005) included:

• A $90,000 gift to "The Power of YOU" program in the twin cities, designed to increase enrollment of at-risk youth at three higher learning institutions
• A $40,000 support grant for the Kingsley Commons Project in Minnesota--for the first ever model of affordable housing and services for people with Muscular Sclerosis
• A project support grant of $25,000 through St. Joseph Ballet in California to help provide mentoring and arts education for disadvantaged kids
• A $15,000 grant to support affordable housing in low-income areas of downtown San Francisco, by way of The Chinatown Community Development Center
• A $20,000 grant to the Capital Region Education Council to help a Hartford, Conn. high school assist students with college applications and financial aid

[Check out the full list of Travelers grants and awards here.]

Source: Insurance Journal

Posted by Megan Mahan at 08:18 PM | Permalink | Comments (0)
 

As an update to an earlier post, former Oklahoma Insurance Commissioner Carroll Fisher has been found guilty of embezzlement and perjury charges in an Oklahoma courtroom, and remains in jail awaiting formal sentencing.

Though the jury recommended he spend three years in prison and pay a total of $20,000 in fines for the two offenses, the final decision is up to an Oklahoma County district judge, who will decide Fisher's fate February 17, according to a story today in the Insurance NewsNet.

Fisher apparently deposited contributions from his own election campaign into his personal bank account in order to bail himself out when his account became overdrawn. He also pulled a big "no-no" by failing to report the money on his state campaign reports, according to several insurance publications.

Fisher's exploits aren't yet over, either; he still faces charges of bribery and filing false tax returns.

The moral? Doing the right thing is always best; even for elected officials (believe it or not)!

Posted by Penny Hagerman at 11:23 PM | Permalink | Comments (0)
 

If the title of this post has you saying "What the...", I assure you, you're not alone. But wait, it gets weirder.

According to a February 13 article by the Insurance Journal, up to 700 women in Oregon, Washington and California were not told that an institute financed by the insurance industry kept their placentas after giving birth, in efforts to protect doctors and medical institutions from potential lawsuits.

The Oregonian reported the story in its Sunday edition that the Cascadia Placenta Registry stored the placentas in question from 1996 to 2003, to help combat the exponential growth in malpractice insurance rates that have prevented some doctors and hospitals to deliver babies. According to the Insurance Journal, settlements or verdicts can reach millions of dollars in cases where children injured during childbirth need care 24-hours a day—including fetuses who've suffered brain damage due to lack of oxygen.

The kicker? Cascadia appears to be the only organization of its kind criticized for failing to inform patients that their placentas were being collected. As a result, says the Insurance Journal, some learned about the placenta registry only after they'd filed lawsuits regarding the injury or death of their babies after birth.

Why collect and analyze placentas in the first place?

The Insurance Journal explains that analyzing the tissue can often show signs of other illnesses or infections that would cause injury or death to a fetus—which can be used to rule out malpractice claims.

The Oregonian illustrated this point with the story of a woman who'd been told shortly before her baby was due that the excess amniotic fluid in her womb put her baby's life at risk. When she felt the fetus stop moving a week later, she contacted her physicians who assured her all was well. Nonetheless, she drove herself to the hospital and her daughter was delivered by emergency C-section. And, shortly after birth, the little girl suffered a seizure that's left her unable to walk, talk or eat without the help of a feeding tube.

Meanwhile, the Oregon hospital sent the mother's placenta to Cascadia, where a pathologist tested the tissue and issued a report stating that the child's cerebral palsy was a result of poor blood flow to the fetus, not improper physician care.

The Insurance Journal reports that the Oregon hospitals involved in the controversy have defended their involvement with Cascadia, saying that the placentas were collected for "patient care". Furthermore, they contend that patients gave named hospitals authority to perform any necessary pathological exams by way of hospital consent forms.

Not so, says leading medical ethicist, Arthur Caplan. He said it's not enough to rely on a patient's general consent when it comes to collecting tissues for potential lawsuits.

"If you're going to take things from patients—extract DNA or use them as potential sources of defense in litigation—subjects have an absolute right to know that and must consent or not," Caplan stated. "To have insurance companies collecting this stuff is very problematic."

To me this falls a little beyond "problematic" and more into the realm of disturbing, but maybe I'm just sensitive. Either way, it'll be interesting to see how this one turns out.

Both Google and MSN turn up next to nothing for "Cascadia Placenta Registry", save for a few interesting threads from what looks to be a pathology message board. The Registry's Web site (placenta.org) seems to be defunct. Perhaps they caved under the scrutiny and took it down? I'll keep my eye on it.

[View the original source of the story from The Oregonian here.]

Posted by Megan Mahan at 06:14 PM | Permalink | Comments (2)
 

Max Mayfield, the director of the National Hurricane Center, delivered some bad news to insurers and adjusters at the 7th Annual Windstorm Insurance Conference this week: The 2006 hurricane season is likely to be a repeat performance of hurricane seasons '04 and '05.

According to the Insurance Journal, Mayfield, a.k.a., Bearer of Bad News, also suggested to attendees of the conference that due to the "El Nino" effect, there could be more hurricanes in 2006 than there were in 2005. Futhermore, Mayfield stressed the importance of making even minor repairs before the next hurricane season.

"What seem like small items, a loose shingle for instance, will be weaknesses if another hurricane comes through, and could result in major damage if not repaired now."

Mayfield also went onto remind insurers that hurricanes are not just coastal events, citing the heavy rain and tornadoes that often accompany hurricanes once they make landfall.

While Mayfield's news may have been a gut check for insurers and adjusters, he went onto stress the importance of hurricane education and evacuation, and reminded city building officials to prepare for future hurricanes by beefing up building codes. Better building codes, Mayfield said, will reduce the number of structures destroyed by hurricanes, thereby reducing the number of claims filed.

According to the Insurance Journal, the Windstorm Insurance Conference continues Feb. 10 and 11 with various workshops and general sessions on the topics of catastrophic loss and the importance of insurance adjusters and experts.

The National Hurricane Center is set to participate in National Hurricane Preparedness Week, May 21-27. The Insurance Journal reports that a hotline is already in place, as well as a "hurricane liaison team" to brief local emergency center regarding hurricane preparation.

[Check the Insurance Journal's complete article here.]

Posted by Megan Mahan at 07:42 PM | Permalink | Comments (0)
 

The Louisiana Senate committee has decided that insurance companies won't be able to cite floodwater marks or homes shifted from their foundations as the only reason for denying claims, reports the Insurance Journal.

The bill was authored by Senator Julie Quinn in response to the many calls she's received from homeowners who didn't have flood policies, but maintain that water was driven into their homes by the fierce winds of Hurricanes Katrina and Rita—and should therefore be covered under traditional home insurance.

According to the Insurance Journal, Sen. Quinn said that insurance companies have been quick to assume that they don't owe homeowners anything based soley on watermarks or the physical movement of the structure.

Insurers that violate Quinn's bill would be required to pay attorney fees, court costs and a penalty to the homeowner—equal to three times the damages covered by the insurerd's policy. Insurance company officials, however, have cited technical problems with Quinn's bill, stating that are mediation programs and courts to handle these types of disputes. Nonetheless, it appears that officials remain optimistic that they can work with Quinn to correct any disparities in the bill.

While lawmakers said they'd like to see some of the bill's provsions "tweaked", the Insurance Journal reports that the Senate Insurance Committee approved the bill 4-1; the bill will move to the full Senate for debate.

The determination of Quinn's bill will affect thousands of hurricane victims, as well as the pockets of Louisiana State insurers.

[Check out the Insurance Journal's article here.]

Posted by Megan Mahan at 07:53 PM | Permalink | Comments (0)
 

Seat belt legislation aimed at saving lives and averting a "public health crisis" has now been adopted in Mississippi, and will take effect May 27.

Mississippi joins other states like South Carolina and Georgia, which adopted the primary enforcement law during the past several months.

"This new law will greatly impact the current public health crisis in Mississippi resulting from the rash of preventable deaths and injuries caused by vehicle crashes involving motorist who are unbuckled," said Wayne Moore, M.D., a medical director at the Tennessee Department of Health.

According to yesterday's story in the Insurance Journal, Moore applauded the new Mississippi law for that very reason.

In many states, primary enforcement legislation, which allows policemen to stop and ticket motorists driving without the benefit of seat belts, is taking the place of secondary enforcement, which requires law enforcement to observe and ticket other violations before issuing citations for seat belt compliance.

According to Mississippi State University, 70 percent of Mississippians support primary seat belt legislation. Since consumer seat belt use ranks significantly lower in secondary states than in primary enforcement ones, public opinion seems to be right on target this time.

Get the entire scoop here.

Posted by Penny Hagerman at 06:05 PM | Permalink | Comments (0)