2021
Turns for the Better… And Worse
How Insurance Premiums Have Changed in Each State since 2010
by Mike Brown
Using data from the NAIC & US Census Bureau, I analyzed how insurance premiums have changed in each state (and nationwide) from 2010 to 2020.
Personalities and Personnel
In this issue, we welcome Cyber Security expert Pete Sfoglia, Chief Information Security Officer and Cofounder, Insurun Advisory Services. Pete has 26 years Big-x consulting experience in IT Security, Business Process Re-engineering and Governance, Risk and Compliance management, 13 as a Partner at EY, Accenture, and Wipro. He brings a wealth of experience in ensuring […]
Consumer Reports Investigates Auto Insurance Telematics
What’s Known And Unknown About Consumer Data Collected And Used By Insurers An investigation of telematics, or usage-based, auto insurance programs by Consumer Reports (CR) reveals that auto insurers collect substantial amounts of information to calculate insurance premiums for participants as well as data that may be used for other purposes. This scale of data […]
In Surfside Ruins, Stark Reminders of Board Duties
By Stuart R. Levine The tragic collapse of a 13-story condominium in the Surfside neighborhood of Miami that claimed the lives of at least 98 people underscores the need for board members to be both reflective and proactive. Bearing witness to tragedy is part of the human experience yet memory dissipates quickly unless, of course, […]
Flood – Tips On Recovery and Prevention
By Sue C. Quimby, CPCU, AU, CIC, CPIW, DAE – Vice President/Media Editor 2020 was not just the year of the pandemic. It also brought record climate and weather-related disasters to the United States. In all, 22 such events caused at least $1 billion in damage each, with the Midwest derecho in August resulting in […]
Digital Safety Basics
How to secure your cyber identity Here we go again, same evil, same demons: trojan horses, bots & botnets, spyware, worms, scams, and phishing. Then there’s ransomware, a set of malware programs that hackers install on your network that blocks access to data or publicizes confidential data unless a ransom is paid, has become big […]
Judge Properly Questioned Witness at Trial to Clarify Insurance Fraud Allegations
Plus A Second Case Review Regarding Water Damage Melbourne Reid appealed from a judgment of the Supreme Court, Queens County (Ira H. Margulis, J.), rendered April 20, 2018, convicting him of falsifying business records in the first degree, offering a false instrument for filing in the first degree, making a punishable false written statement (two […]
Fiduciary Professions: Legal Challenges and Solutions for Trustees of Trust-Owned Life Insurance
Active and careful management is required
By Grace Bronstein & Ian Weinstock
Many trustees mistakenly believe that life insurance is a static financial instrument. However, trust-owned life insurance (TOLI) requires active and careful management. Recent case law provides a roadmap for how trustees can adequately manage TOLI pursuant to the Uniform Prudent Investor Act (UPIA). Trustees should be aware of their exposure to liability, as there’s been an increasing trend towards lawsuits filed against trustees for policy mismanagement.
