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With declining number of auto accidents, primarily due to better drivers and safer cars, auto insurance rates are expected to rise 3.5 percent in 2004.  This is the smallest increase in 4 years and a savings for policyholders compared to the 7.8 percent increase in 2003.  

U.S. Life Expectancy Trends

“Between 1990 and 2002 the gain in life expectancy for women was 1.1 year compared with 2.7 years for men, reflecting proportionately greater decreases in heart disease and cancer mortality for men then for women and proportionately larger increases in chronic lower respiratory disease mortality among women.” 

—National Center for Health Statistics

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Due to the  impact of a little known insurance regulation, many insurance companies are expected to raise term life rates on average 10 to 20 percent by the end of 2004. The increases are a result of an insurance regulation known as XXX, which requires insurance companies to hold larger claims reserves for their term policies.  

—Wall Street Journal Survey

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With corporate insurance rates on the decline, several corporate insurance customers are beginning to show trends of optimism with the insurance market.  In the last few months, 50 percent of all directors and officers renewed at lower rates.  Of those, the average decline was 16 percent and the rates for some policies fell as much as 52 percent. 

—Risk & Insurance Management Society

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Safest U.S. Cities from Extreme Weather

1. Honolulu, HI
2. Boise City, ID
3. Santa Fe, NM
4. Yakima, WA
5. Spokane, WA
6. Richland-Kennewick-Pasco, WA
7. Medford-Ashland, OR
8. Corvallis, OR
9. Salem, OR
10. Las Cruces, NM

— Forbes.com

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“Disability insurance is an insurance product that compensates a person who, due to accident or illness, is unable to earn all or part of his or her former income. In simple terms, the insurance payments substitute for part or all of the income lost due to an accident or illness. In the case of student athletes who anticipate careers in professional sports, disability insurance can provide security against the possible loss of future income, which may occur if the student athlete suffers an illness or accidental injury that prevents him or her from pursuing a professional career."

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In 2003, 17 percent of Americans who are under 65 years of age reported having no health insurance coverage.  The percent of adults under 65 years of age without health insurance coverage decreases with age.  In 2003 adults 18-24 years of age were most likely to lack coverage and those 55-64 years of age were least likely.

—National Center for Health Statistics

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 A study this year by Datamonitor found that U.S. businesses lost more than $6.1 billion (US$) in potential Internet sales in 1999 because of poor online customer service, and estimated that an industry wide failure to resolve the problem could lead to at least $173 billion in lost revenues through 2004.

www.ecommercetimes.com  

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Least Safest U.S. Cities from Extreme Weather

1. Monroe, LA
2. Dallas, TX
3. Jackson, MS
4. Lakeland-Winter-Haven, FL
5. West Palm Beach-Boca Raton, FL
6. Kansas City, MO
7. Elkhart-Goshen, IN
8. Tulsa, OK
9. Memphis, TN
10. Shreveport-Bossier City, LA

— Forbes.com

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A life settlement transaction consists of a policyholder selling an existing policy to an investor who is named the beneficiary.  The investor pays the premiums and collects the payout when the seller dies.  Life settlements can make sense for sellers who no longer need coverage and no longer want to pay premiums.  Selling an unwanted policy increasingly is becoming a financial management tool for older people who face a cash crunch.  

—Jeff Opdyke, Wall Street Journal 

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Storm Surge Safety Actions: Evaluation Information

1. Minimize the distance you must travel to reach a safe location; the further you drive the higher the likelihood of encountering traffic congestion and other problems on the roadways.
2. Select the nearest possible evacuation destination, preferably within your local area, and map out your route.  Do not get on the road without a planned route, or a place to go.  
3. Choose the home of the closest friend or relative outside a designated evacuation zone and discuss your plan with them before hurricane season.
4. You may also choose a hotel/motel outside the vulnerable area.
5. If neither of these options is available, consider the closest possible public shelter, preferably within your local area.  
6. Use the evacuation routes designated by authorities and, if possible, become familiar with your route by driving it before an evacuation order is issued.
7. Prepare a separate pet plan, most public shelters do not accept pets.
8. Prepare your home prior to leaving by boarding up doors and windows, securing or moving indoors all yard objects, and turning off all utilities.  
9. Before leaving, fill your car with gas and withdraw extra money from the ATM.
10. Take all prescription medicines and special medical items, such as glasses and diapers.
11. If your family evacuation plan includes an RV, boat or trailer, leave early.  Do not wait until the evacuation order or exodus is well underway to start your trip.
12. If you live in an evacuation zone and are ordered to evacuate by state or local officials, do so as quickly as possible.  Do not wait or delay your departure, to do so will only increase your chances of being stuck in traffic, or even worse, not being able to get out at all.
13. Expect traffic congestion and delays during evacuations.  Expect and plan for significantly longer travel times than normal to reach your family's intended destination.
14. Stay tuned to local radio or television station and listen carefully for any advisories or specific instructions from local officials.  Monitor your NOAA Weather Radio.

-National Oceanic and Atmospheric Administration

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Nearly two-thirds of those living in U.S. rental properties are risking severe financial loss by living without renters insurance.  A typical renters policy has $30,000 to $35,000 in coverage for personal possessions and between $100,000 and $300,000 in liability coverage.  Most renters policy's cost between $150 to $300 per year.

—Independent Insurance Agents & Brokers of America

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“For both large and small employers, employees with single coverage were much more likely to not have to contribute toward their plan’s premium than employees with non-single coverage. Overall, 27.3 percent of those enrolled in single plans did not contribute toward the premium cost compared to 14.2 percent of those with family coverage and 9.6 percent of those with employee-plus-one coverage.”

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The number of people with health insurance coverage rose from 242.4 million in 2002 to 243.3 million in 2003. Nonetheless, the percentage with coverage dropped from 84.8 percent to 84.4 percent, mirroring a drop in the percentage of people covered by employment based health insurance (61.3 percent in 2002 to 60.4 percent in 2003). This decline in employment-based health insurance coverage essentially explains the drop in total private health insurance coverage, from 69.6 percent in 2002 to 68.6 percent in 2003.

—U.S Census Bureau

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Employers created a shift in enrollment by dropping HMOs and adding PPOs.  Now 57% offer a PPO (up from 49%), while just 33% offer an HMO (down from 37%).  HMO enrollment fell from 29% of all covered employees in 2002 to 27% in 2003, while PPO enrollment jumped from 50% to 54%.  

—MERCER Human Resource Consulting

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The obesity crisis in the United States, which has long been known to rack up healthcare costs, has caused a sharp rise in disability rates over the past two decades, as American are becoming obese at younger ages.  About 127 million adult Americans, or 64.5% of the population are overweight or obese.  

—According to the American Obesity Association

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The geographical spread for auto accidents shows crashes that cause injuries and property damage occur at the highest rates in urban areas, while fatal crashes are more likely to occur in rural areas.

—According to the Insurance Institute for Highway Safety

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The 1995 Saturn SL was the most stolen vehicle in the United States in 2003.  One out of every 200 registered 1995 Saturn SLs were stolen in 2003, placing it ahead of the 1998 Acura Integra and 1994 Saturn SL.

—According to CCC Information Services Inc.  .

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Costly Crisis

● 90,000 square miles covered by federal disaster declaration (about the size of the United Kingdom)

● 555 water systems in Mississippi, 469 in Louisiana and 73 in Alabama affected

● $125 billion or more in economic losses

● $25 billion or more in insured property losses (compared with $20.1 billion after September 11, 2001 terrorist attacks)

● $40 billion to $60 billion in private insured losses

● 160,000 or more homes ruined in Louisiana

● An estimated 360,000 mortgages valued at $48 billion, affected

—Risk Management Solutions, Environmental Protection Agency, Insurance Information Institute

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Preliminary 2005 HMO Rates are expected to increase on average 13.7 percent compared to the 17.4 percent at the same time last year.  Although this increase continues the trend of double digit health care costs, much smaller increases are expected for employers who aggressively manage their health care spending.  This information is based on HMO rates from 160 large employers representing more than 1 million employees.  

—According to Hewitt Associates, a global HR outsourcing and consulting firm

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