American Insurance Association testifies against Connecticut
Thursday, Mar 05,2009, 4:05:22 PM Click:
Copyright 2009 HT Media Ltd.All Rights Reserved Targeted News Service
5 February 2009 Thursday 11:06 PM EST
LENGTH: 365 words
TITLE: American Insurance Association testifies against Connecticut Senate Bill 291
Signature: Targeted News Service
DATELINE: HARTFORD, Conn.
The American Insurance Association has issued the following communiqué:
The American Insurance Association (AIA) presented testimony today in opposition to Connecticut Senate Bill 291, An Act respecting owners' insurance policies for people who own dogs have bitten a person. According to the AIA, the bill that would prohibit insurers from refusing to issue insurance policies for personal risk homeowners who have a dog that has bitten a person, is unfair to both policyholders and insurers.
"Connecticut home insurance market is vast and diverse, and insurers do not all have the same appetite for risk and underwriting guidelines regarding dogs," said Laura Kersey, AIA Northern Region Assistant Vice President. "Although some insurers do not subscribe May an owner who has a dog that has bitten a person, other insurers in May to be ready to write such a risk."
In addition, it is virtually impossible for an insurer to collect enough premiums from the owner of a dangerous dog to cover the probable risk of loss. "This means that owners and dog owners, without the safety of dogs end up subsidizing the premiums for owners of dangerous dogs and probably pay more for their homeowners insurance," said Kersey. "This is an unjust result for homeowners in Connecticut, particularly in the current economic environment."
An analysis by the Insurance Information Institute (III) found that many accidents insurers paid about $ 356.2 million in 2007 for dog bite claims, which represented one third of the total number of owners liability insurance. In 2007, the average cost to settle a dog bite claim was $ 24,500 more. Since 2003, the cost of these claims has risen nearly 28 percent.
Senate Bill 291 is bad public policy at a time when insurers need the flexibility of subscription in order to maintain the availability of homeowners insurance, "said Kersey.
The testimony was presented at a hearing before the Insurance and Real Estate Committee.
Member companies of the AIA to write more than 40 percent of homeowners insurance market in Connecticut.
Contact: Brianne Mallaghan, 617/305-4155
Copyright Targeted News Service
TNS MV45-090212-2228437 18MASHMarlyn
LOAD-DATE: February 23, 2009
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
5 February 2009 Thursday 11:06 PM EST
LENGTH: 365 words
TITLE: American Insurance Association testifies against Connecticut Senate Bill 291
Signature: Targeted News Service
DATELINE: HARTFORD, Conn.
The American Insurance Association has issued the following communiqué:
The American Insurance Association (AIA) presented testimony today in opposition to Connecticut Senate Bill 291, An Act respecting owners' insurance policies for people who own dogs have bitten a person. According to the AIA, the bill that would prohibit insurers from refusing to issue insurance policies for personal risk homeowners who have a dog that has bitten a person, is unfair to both policyholders and insurers.
"Connecticut home insurance market is vast and diverse, and insurers do not all have the same appetite for risk and underwriting guidelines regarding dogs," said Laura Kersey, AIA Northern Region Assistant Vice President. "Although some insurers do not subscribe May an owner who has a dog that has bitten a person, other insurers in May to be ready to write such a risk."
In addition, it is virtually impossible for an insurer to collect enough premiums from the owner of a dangerous dog to cover the probable risk of loss. "This means that owners and dog owners, without the safety of dogs end up subsidizing the premiums for owners of dangerous dogs and probably pay more for their homeowners insurance," said Kersey. "This is an unjust result for homeowners in Connecticut, particularly in the current economic environment."
An analysis by the Insurance Information Institute (III) found that many accidents insurers paid about $ 356.2 million in 2007 for dog bite claims, which represented one third of the total number of owners liability insurance. In 2007, the average cost to settle a dog bite claim was $ 24,500 more. Since 2003, the cost of these claims has risen nearly 28 percent.
Senate Bill 291 is bad public policy at a time when insurers need the flexibility of subscription in order to maintain the availability of homeowners insurance, "said Kersey.
The testimony was presented at a hearing before the Insurance and Real Estate Committee.
Member companies of the AIA to write more than 40 percent of homeowners insurance market in Connecticut.
Contact: Brianne Mallaghan, 617/305-4155
Copyright Targeted News Service
TNS MV45-090212-2228437 18MASHMarlyn
LOAD-DATE: February 23, 2009
Copyright © 2009 LexisNexis, a division of Reed Elsevier Inc.. All rights reserved
Terms and Conditions Privacy Policy
You may also be interested in:
Featured
The Hartford Raises $900 Million
Hartford Financial Services Group Inc., an insurer that received a $3.4 billion
Deutsche Insurance Division Kaj as Global Strategic
Deutsche Bank's Asset Management division today announced that Kaj Ahlmann has
Spike In Severe Weather And Looming Alzheimer’s
HARTFORD, Conn.--(BUSINESS WIRE)-- As the 2009 hurricane season begins, the MIT
Recovery a distant dream for the victims of
Copyright: The Associated Press. All rights reserved. May This material may not
Milliman study: five years of earnings pension company
SEATTLE, March 24, 2009 / PRNewswire via COMTEX / -- Milliman study: five years
Graniz Mondal Inc. Enters Into Letter of Intent With
MONTREAL, QUEBEC -- (MARKET WIRE) -- 06/22/09 -- Graniz Mondal Inc. (Graniz)
Fla. House panel approves bill for hurricane insurance
Copyright: The Associated Press. All rights reserved. This material may not be
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- Slain Greenwich Developer's Widow Will not Get Insurance Mon
- Preliminary observations on Humana Medicare Advantage Rates
- USAA Files Trademark Infringement Lawsuit Against Web Site
- AIG's Asian Operations Restructure, May Go Public
- Congress requires that hospitals Justify Tax-Exempt Status
- HIPAA Violations Are Finally Starting To Be Punished
- Former Medical Director Speaks Out About Medicare Fraud
- Knotts denies interference in DHEC: Exex-agent claims to hav
- Head of Hawaii Captive Regulation Joins DTRIC Insurance Co.
- British Government Takes Controlling Stake In Lloyds Banking
Discuss this news
Click Here to see all comments