News from Omaha World-Herald:


Homeowners in the nation’s Tornado Alley, the swath of states that includes Nebraska and Iowa, most likely will see increases in property insurance premiums because 2011 is capping a long-term trend of increased storm damage.

It’s not just the recent headlines from Missouri and Oklahoma or last month’s deadly outbreak in the Southeast.

Four years of record damage from tornados and thunderstorms are to blame, said Robert Hartwig, president of the Insurance Information Institute in New York City.

This year, he said, “has been an extraordinary exclamation point on what insurers have noticed for the last several years” — a sustained, high level of claims from thunderstorms and the winds and hail they generate.

That’s exactly the sort of trend companies consider when they set premiums. Insurers need premiums to be high enough to pay their claims and also provide a profit.

“We’re clearly in the midst of at least an intermediate if not a long-term trend toward higher claims,” Hartwig said. “That will have……….. continues on Omaha World-Herald.
Continue Reading …

Related News:

Insurance Theory and Practice
This book provides a comprehensive overview of the theory, functioning, management and legal background of the insurance industry….
Property/Casualty Insurance, a Basic Guide: For Adjusters, Underwriters, Agents, Brokers, Attorneys, Entrepreneurs, and Business Managers
A simple to understand book, written for business owners and managers, as well as for insurance professionals. It covers valuable …
Inside the Minds: The Insurance Business–Industry Leaders on Managing Risks, Ensuring Investments, and Protecting Assets
Inside the Minds: The Insurance Business is an authoritative, insiderÂ’s perspective on the ins and outs of this dynamic indust…