Dept. of Insurance: Earthquake Insurance Market Feeling Tremors The Mo. Department of Insurance recently collected data on earthquake coverage from the 20 largest homeowners companies in Mo. Department Director John Huff is concerned about several of the survey's findings, including large deductibles, multiple deductibles, masonry exclusions and the outsourcing of policies to unfamiliar surplus lines companies. Click here to read the full press release from the Department of Insurance.
Dept. Issues Bulletin on Certificates of Insurance The Mo. Department of Insurance issued a bulletin regarding the proper use of certificates of insurance. The bulletin emphasizes that certificates of insurance are intended to serve as evidence of insurance and that distribution of certificates of insurance that have been altered without the authorization of the insurer violates the Unfair Trade Practices Act. Please read the entire department Bulletin 10-02 and see the upcoming issue of Missouri Agent for information on recent changes to the ACORD certificate of insurance forms.
Dept. Warns Against Group Health Incentives The Missouri Department of Insurance has issued a bulletin cautioning producers against offering wellness programs as incentives for businesses to purchas group health plans. Any incentive program not expressly included in the insurance plan is considered an illegal inducement. Read Department of Insurance Director John Huff's article about wellness programs in the March-April 2010 issue of Missouri Agent and see the full department bulletin online.
ALEXANDRIA, Va., March 11, 2010 - Trusted Choice® has awarded the annual Dan Fulwider Award for Community Involvement to Craig and Melanie Moon of the Moon & Adrion Insurance Agency in Middletown, Ohio. Safe Havens Farm, a farm community for adults with autism, will receive $2500 on their behalf.
WASHINGTON, D.C., March 10, 2010 - The Big "I" today commended the U.S. House of Representatives Committee on House Financial Services Subcommittee on Housing and Community Opportunity and the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises for holding a joint hearing titled "Approaches to Mitigating and Managing Natural Catastrophe Risk: H.R. 2555, The Homeowners' Defense Act." The Big "I" submitted testimony offering solutions to growing concerns and commending Congress for exploring the issue.
WASHINGTON, D.C., March 8, 2010 - A lackluster economy, shrinking commercial premiums, inefficient regulation and the health care debate in Congress were among the many industry challenges discussed during Friday's CEO Panel at the Big "I" Legislative Conference & Convention.
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Missouri Association of Insurance Agents e-mail: maia@moagent.org P.O. Box 1785, 3315 Emerald Lane
Jefferson City, MO 65102-1785 (65109 for parcel deliveries)
573-893-4301 800-617-3658 (in Missouri)
573-893-3708 (fax)
