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Linking Expert Insight with Insurance Industry Decision-Makers |
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Driven by continued increases in premiums and modest declines in pure losses, the U.S property/casualty industry posted a second consecutive first-quarter underwriting profit in 2013, as results improved compared with 2012. The industry's pretax operating and net income showed strong increases on the improved underwriting results, while the level of investment income remained steady.
If you would like to view other reports, visit our Member Center to register. |
| World Catastrophes Map |
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We are pleased to provide our BestConnect subscribers with A.M. Best's latest topical World Catastrophes Map, a valuable, informative record of the prior year's insured losses worldwide.
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This map, available as a print and online supplement to the June issue of Best's Review, features the 20 largest insured loss events of 2012. |
In the Press  |
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Each quarter, "In the Press" brings you the most important press releases, announcements and achievements from Directories listees.
| Community Showcase |
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"Community Showcase" is a forum for highlighting significant contributions that current Best's Directories listees have made in their communities. Contributions may include pro bono cases, community outreach projects, volunteer work or charity efforts.
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Robert P. Byelick, a partner with Abbey, Adams, Byelick & Mueller, L.L.P., was named one of St. Petersburg's "Heroes Among Us" in recognition of his decades of service to his community. Throughout his career, Bob has demonstrated a commitment to improving the bay area. Along with the Sunshine City Jaycee's, Bob was instrumental in the establishment of the Children's Dream Fund during the 1980's. He worked with the St. Petersburg Chamber of Commerce Baseball Committee to bring major league baseball to the community. He has also been chairman of the Jim Fischer Scholarship Fund Committee, which provides free college tuition to disadvantaged students in grades 6-11. Read more about Robert Byelick's contributions to the St. Petersburg community. |
"Community Showcase" is a forum for highlighting significant contributions that current Best's Directories listees have made in their communities. Contributions may include pro bono cases, community outreach projects, volunteer work or charity efforts.
Do you know of a firm or individual who has made a difference in their community? Visit our "Community Showcase" FAQ page to learn more about this feature or complete our "Community Showcase" Nomination Form. Nominations are accepted year-round.
For the Record  |
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"For the Record" showcases the latest articles from current Directories listees.
| Title of Article | Author/Firm |
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Florida Governor Rick Scott signed into law SB286 - a bill designed to assist design professionals in avoiding personal liability under certain circumstances, but questions still remain. |
J. Matthew Belcastro, Esq.
Fort Myers, FL |
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Data privacy breaches occur daily and are estimated to cost $5.5 million per breach while the worldwide cost of cybercrime is estimated to be $388 billion annually. The insurance industry must recognize that it, too, is vulnerable to cyber attacks and subject to a myriad of data privacy laws and regulations. |
David Governo & Corey Dennis
Boston, MA
Orignally published in Claims Magazine |
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For those in the business of dissecting vehicle accidents for insurance companies and attorneys, modified vehicles, whether they are tuned-up cars, vans for the disabled or stretched luxury limos, are vulnerable to litigation when drives go awry. |
Peter R. Thom and William J. Woehrle
Orinda, CA |
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Articles Include: "Huge Medical Bills and Questionable Surgery in LOP Cases: How the 4th DCA Upholds Our Strategy to Expose the Physician." "May an Insurer Limit Reimbursements Based on the Medicare Fee Schedules without Providing Notice in Its Policy of an Election?" |
Edited by Maria Donnelly, CR & Daniel J. Santaniello, Esq.
Fort Lauderdale, FL |
Legally Speaking  |
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Each quarter, "Legally Speaking" highlights the newest Insurance Law Podcasts from A.M. Best.
To listen to a podcast, please click on the podcast title. A new window containing an audio player will open. At the end of the podcast, please close the audio player window to return to your BestConnectnewsletter. If you enjoy the podcasts below, be sure to visit our archive for other podcasts you may have missed.
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Posted: Wed, 11 Sep 2013
Attorney Anthony D. Grande from the law firm of Clausen Miller PC, with U.S. offices in Chicago, California, New Jersey and New York, and several worldwide affiliate offices in Europe and Asia, discusses construction law litigation, New York's labor law and the impact on the insurance community.. |
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Posted: Fri, 6 Sep 2013
Attorney Ted Schaer from the law firm of Zarwin Baum DeVito Kaplan Schaer Toddy, P.C. in Philadelphia, PA, discusses the legal and critical challenges associated with Emergency Response and the impact on the insurance industry. |
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Posted: Fri, 9 Aug 2013
Attorney David W. Skeen from the law firm of Wright, Constable & Skeen, L.L.P. in Baltimore, MD on a Supreme Court ruling addressing the importance of being a vessel under maritime law. |
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Posted: Wed, 24 Jul 2013
Dan Finn, a Certified Structured Settlement Consultant from Finn Financial Group in Newport Beach, CA, addresses recent tax law changes in the state and their impact on claimants, attorneys and the insurance industry. |
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In Brief  |
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"In Brief" highlights important insurance industry news from A.M. Best's award-winning news publications. Access to full stories may require a subscription to the publication.
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Title of Article |
Article Date |
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| PIAA Pushing Congress to Address Affordable Care Act Risk Issues for Health Providers - PIAA, the trade association that represents medical professional liability companies and other entities, wants Congress to address concerns that Affordable Care Act requirements will create new standards of care - and possibly greater liability - for health care professionals the group's members insure. | September 16, 2013 |
| Insurers Fielding Water-Related and Auto Claims From Colorado Floods - Thousands of homes have been damaged or destroyed by flood waters sweeping through areas of northern Colorado's Front Range, an event that is bringing wind-related water and auto claims to insurers. | September 16, 2013 |
| Coastal State Regulators, Lawmakers Preparing to Push FEMA to Delay Oct. 1 Rate Hikes - Coastal state lawmakers and regulators are prepared to make a formal push to have the Federal Emergency Management Agency delay potentially crushing National Flood Insurance Program rate hikes for some policyholders expected to take effect Oct. 1. |
August 26, 2013 |
| South Carolina Court: Insurer Doesn't Have to Cover Damage Caused by Construction Subcontractor - A property/casualty insurance company in South Carolina will not have to cover damages caused by a subcontractor hired by a policyholder thanks to a ruling handed down by the state's Supreme Court. |
August 23, 2013 |
It's the Law  |
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The Law Digest is a summary of the insurance laws for each U.S. state and Canadian province. Our aim is to provide a reference source that covers some of the general insurance principles in leading case decisions.
Legal Precedents Impacting the Insurance Industry within the Past Year:
| Digest | Revisor |
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The Florida Supreme Court has "clarified" the Florida law to prohibit the use of extrinsic evidence when construing ambiguous policy language. See Construction of Policy. There is also a pending constitutional challenge to recent PIP legislation. |
Fort Lauderdale, FL |
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Medical Malpractice: Statutory tort reform non-economic damage caps held unconstitutional under the Missouri Constitution. See Watts ex rel. Watts v. Lester E. Cox Med. Ctrs. Professional Liability: Contributory negligence no longer applies to claims arising from solely economic losses. Children's Wish Found. Int'l, Inc v. Mayer Hoffman McCann. |
St. Louis, MO |
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In Bird v. Best Plumbing, the Washington Supreme Court reaffirmed the legitimacy of the covenant judgment in insurance bad faith cases, and held that a defendant-insurer does not have a right to have the reasonableness of the underlying settlement determined by a jury. |
Seattle, WA |
The following Digests have also been recently updated:
| Arkansas | Anderson, Murphy & Hopkins, L.L.P. of Little Rock |
| Montana | Corette Black Carlson & Mickelson of Butte |
| Nebraska | Lamson, Dugan & Murray, LLP of Omaha |
| New York | London Fischer LLP of New York |
| North Carolina | Bailey & Dixon, L.L.P. of Raleigh |
| Ohio | Davis & Young of Cleveland |
| Oregon | Bullivant Houser Bailey PC of Portland |
| Pennsylvania | Marshall, Dennehey, Warner, Coleman & Goggin of Philadelphia |
| Virginia | Bancroft, McGavin, Horvath & Judkins, P.C. of Fairfax |
| Wisconisn | Crivello Carlson, S.C. of Milwaukee |
To see the full list of updates, click below.
Notable Listings  |
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We are pleased to welcome the following new listees this quarter, and to recognize those who have reached a milestone with Best's Directories.
New Listings
Best's Directory of Recommended Insurance Attorneys
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Post Falls, ID
Middletown, CT New Britain, CT
Oklahoma City, OK
Woodland Hills, CA
Arlington, TX
Fort Lauderdale, FL
Kansas City, MO
Philadelphia, PA
Memphis, TN New York, NY
Chickasha, OK
Riverside, CA
Troy, MI St. Louis, MO
Birmingham, AL Littleton, CO Orlando, FL Chicago, IL
Greenwood Village, CO Earlysville, VA St. Paul, MN Tulsa, OK
Daytona Beach, FL
Akron, OH
Indianapolis, IN |
Best's Directory of Recommended Insurance Adjusters
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Houston, TX
Covington, LA |
Best's Directory of Recommended Expert Service Providers
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AAFS Associates, Inc. - Accident Reconstruction
Brennan & Clark - Collections and Subrogation Experts
Holmquist Geotechnical Group - Construction Consultants
Mitchell Lee Lathrop - Insurance Experts
Lindmark Engineering - Forensic Engineering Experts
Madison Scottsdale Investment Counsel - Insurance Experts
J. M. Miller Engineering, Inc. - Forensic Engineering Experts Palmetto Consulting, LLC - Consultants Parenteau & Associates, Inc. - Insurance Experts |
West Palm Beach, FL
Villa Park, IL
Georgetown, TX
San Diego, CA
Westlake Village, CA
Scottsdale, AZ
Ann Arbor, MI Columbia, SC Shelton, CT |
Best's Directory of Third Party Administrators
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San Antonio, TX
Roanoke, VA
Alpharetta, GA |
Notable Listing Anniversaries
Over 60 listees are celebrating major anniversaries with Best's Directories of Insurance Professionals this quarter!
View our complete list of companies celebrating 10, 25, 50, and 75 years in Best's Directories.
| Webinars |
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A.M. Best produces innovative online presentations that connect you with industry leaders and provide the opportunity to learn first-hand about trends and developments facing insurance today.
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Click on a title to open the video of your choice. At the end of the webinar, simply close the video player to return to the BestConnect newsletter. A panel of experts discusses recent extreme weather catastrophes, catastrophe forecasts, and how record losses have insurers crafting new policy options and re-evaluating their risk selection criteria.
Throughout the United States, workers' compensation funds run by individual states control a significant portion of the workers' compensation business. This webinar examines how state workers' compensation funds are changing across the country and how they are working alongside and competing with for-profit workers' compensation insurers.
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Don't miss any of the upcoming webinars! View our full webinar schedule, or register to attend a session.
Tradeshow/Events  |
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View the latest schedule for up-to-date information on insurance industry events from the Meetings & Conventions database.
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Meeting Name / Association |
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Defense Research Institute |
October 16-20, 2013 | Chicago, IL |
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Chartered Property Casualty Underwriters (CPCU) |
October 26-29, 2013 | New Orleans, LA |
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National Association of Subrogation Professionals (NASP) |
November 3-6, 2013 | San Diego, CA |
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2013 IMAS - The Marketing of Insurance |
November 14, 2013 | Jersey City, NJ |
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Risk & Insurance |
November 20-22, 2013 | Las Vegas, NV |