Risk Management

Arkansas HB 2193 Signed into Law

Arkansas Governor William Asa Hutchinson signed House Bill 2193 into law on April 6. The bill repeals the current Insurance Verification Database enacted in 1997 and replaces it with the Arkansas Online Insurance...

Arkansas now supports FTP file submissions

The Arkansas Office of Driver Services announced that its auto liability insurance reporting system can now support FTP file submissions. The announcement was made during an industrywide conference call on March 23,...

April 2017 Preview: Historical Catastrophe Activity

April is an active month for violent tornadoes, though overall tornadic activity typically peaks in May and June. We saw more violent tornadoes—EF4 and EF5—in April than any other month from 1950 through 2013. The pas...

March 2017 Preview: Historical Catastrophe Activity

Property Claim Services ® (PCS ® ) has designated 32 weather-related catastrophe events for the month of March between 2007 and 2016. Those events caused approximately $14.3 billion in insured losses and resulted in 2...

MSVIVS Ramping Up

MSVIVS – OLV Testing In addition to requiring a book of business (BoB) file by the first Tuesday of each month, Mississippi is currently testing the online verification (OLV) portion of the new Mississippi Vehicle...

February 2017 Preview: Historical Catastrophe Activity

It’s midwinter in the Northern Hemisphere, and we’re looking ahead to February with a review of historical catastrophe activity. In the ten years from 2007 through 2016, PCS® designated 28 catastrophes during the mont...

Four Killer Blockchain Use Cases for Insurance

Is blockchain really a solution in search of a problem ? At first glance, it may appear that way. Aside from developments in the industry loss warranty (ILW) market , clear use cases have been slow to emerge. That’s...

Are We Missing the Real Blockchain Opportunity for Insurance?

Blockchain has taken the global insurance industry by storm. Insurtech start-ups have begun to probe this emerging technology, and insurers and reinsurers have watched, explored, and tested. So far, however, blockchai...

South Carolina uninsured motorists can pay to drive

South Carolina will allow uninsured motorists to operate vehicles in the state if they pay an annual fee of $550, according to Bulletin 2016-11, which the state released on Dec. 20, 2016. The state said it will place...

Pennsylvania Plate Readers

Pennsylvania discontinued its practice of issuing license plate registration stickers effective Jan. 1, 2017. To confirm that a motorists ’s vehicle registration is current and properly insured, the state now will rel...