Personal Insurance Business

• Under Pressure, Landrieu Again Seeks to Block NFIP Rate Increases

  By Arthur D. Postal, PropertyCasualty360.com  |  May 22, 2013

  Sen. Mary Landrieu, D-La., late Tuesday introduced legislation that would roll back a number of National Flood Insurance Program reforms passed last year.

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  Insurers, Officials Begin to Assess Damage from Oklahoma Tornado

  By Anya Khalamayzer, PropertyCasualty360  |  May 22, 2013

  Oklahoma Insurance Commissioner John Doak said damages from the Moore, Okla. tornado may exceed $3 billion while AIR Worldwide estimates that the replacement value of damaged properties around the track of the tornado could be as high as $6 billion.

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  All About Tornadoes

  By Phil Gusman, PropertyCasualty360.com  |  May 21, 2013

  Tornadoes have caused $97.8 billion in insured losses in the U.S. between 1990 and 2009, making these weather events second only to hurricanes for that period as the costliest natural disasters. Learn about the damage caused to the U.S. in recent years from these weather events.

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  Twister Levels Oklahoma Town as Midwest Storm System Lingers

  By Anya Khalamayzer, PropertyCasualty360  |  May 21, 2013

  Average tornadoes move at less than 35 miles per hour and last just a few minutes, but yesterday a two-mile wide EF4 tornado packing 166 to 200 mph winds ripped through the suburbs of Oklahoma City for 40 minutes.

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  2-Mile Wide Tornado Strikes Outside Oklahoma City; Death Toll Estimate Lowered

  By Carey Gillam, Reuters, Ian Simpson, Reuters  |  May 21, 2013

  Emergency workers searched for survivors in the rubble of homes, schools and a hospital in an Oklahoma town hit by a powerful tornado, but officials on Tuesday sharply lowered the number of deaths caused by the storm.

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  Battle over NFIP Rate Hikes Causes Ripples in Louisiana Senate Race

  By Arthur D. Postal, PropertyCasualty360.com  |  May 20, 2013

  The battle over rate hikes imposed on flood insurance program policyholders in Louisiana is intensifying, with the big prize being the Senate seat now held by Mary Landrieu, D-La.

• NAMIC Opposes Mandatory Coverage for Gun Owners in D.C.

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 17, 2013

  Under the proposal, the state’s current 2,000 registered gun owners and all future buyers would have to take out a $250,000 policy covering damage from any gun use, even willful and illegal acts.

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  Allstate Seeks Independent Agents to Sell Branded Products

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 16, 2013

  Faced with attrition in its captive agencies, and a declining number of policies-in-force, Allstate Corp. is turning to a surprising distribution source to drive its brand: independent agents.

• Allstate Estimates $216M in Catastrophe Losses for April

  By Staff Writer  |  May 16, 2013

  Northbrook, Ill.-based insurer Allstate Corp. estimates catastrophe losses for the month of April at $216 million pre-tax and $140 million after-tax.

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  Tornadoes Rip Through North Texas, Causing Extensive Damage

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 16, 2013

  Tornadoes late May 15 in north-central Texas damaged multiple homes, killing six people and injuring 100.

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  AccuWeather Predicts Three Land-Falling Hurricanes for 2013 Season

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 15, 2013

  As the June 1 Atlantic Hurricane season approaches, AccuWeather.com echoes earlier predictions by saying Atlantic basin residents can expect an active hurricane season.

• Progressive April Net Income More Than Doubles

  By Chad Hemenway, PropertyCasualty360.com  |  May 15, 2013

  Progressive Corp. says April net income skyrocketed 128 percent to $139.5 million.

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  4 Lessons to School Millennials on Renters' Insurance

  By Gayle O'Connell  |  May 15, 2013

  Insurance agents and brokers are perfectly positioned to help correct the misconceptions of millennial renters.

• PIA Survey: Northeast Property Rates Up; Underwriting Changes Significant

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 14, 2013

  A survey of independent agents representing four states in the Northeast says the combination of escalating rates and stricter underwriting forced 93 percent to increase their remarketing efforts over last year.

• Louisiana Senators Push for Delay in NFIP Rate Hikes

  By Arthur D. Postal, PropertyCasualty360.com  |  May 8, 2013

  Louisiana’s two senators are proposing an indefinite delay to flood insurance premium hikes mandated by legislation enacted in 2012.

• Personal Lines Rate Increases Moderate in April

  By Phil Gusman, PropertyCasualty360.com  |  May 7, 2013

  Personal-lines insurers priced risks a bit more competitively in April, with rates climbing by 3 percent year-over-year compared to 4 percent in March, according to MarketScout’s latest market barometer.