Statewide Insurance Group, Inc.
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Posted by Benji Riggins on January 21, 2009 under Office News, Purpose | 
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I’m Benji Riggins, President and Agent for Statewide Insurance and I hope to provide a useful and informative resource for our customers, staff, and the general public. I will try to offer open and honest communication with regards to the insurance industry as well as our company specifically.
Posted by Benji Riggins on January 27, 2009 under Office News, Purpose | Be the First to Comment
For those who may not know who we are, I’d like to take the time to introduce Statewide Insurance Group, Inc.
Posted by Benji Riggins on March 5, 2010 under Flood | Be the First to Comment
The U.S. Senate last night passed legislation that includes an extension of the federal flood insurance program until March 28. President Obama has signed the measure.
The extension means that the National Flood Insurance Program (NFIP), which has been unable to issue policies since its authorization expired at midnight on Feb. 28, should be able to again start issuing new and renewal policies. NFIP issued a memo on Feb. 26 that included guidelines for operations during a hiatus. However, the agency has not yet released any follow-up guidance for insurers or agents following this reauthorization.
The several days’ hiatus did not affect NFIP claims paying. The program insures more than 5 million properties.
The emergency legislation reauthorizing funding for the flood program was part of a larger $10 billion bill dealing with unemployment insurance, subsidies for COBRA benefits, transportation projects and several other federal programs.
The legislation had been held up by Sen. Jim Bunning, R-Ky., who objected that it did not address funding. Supporters said that as emergency legislation, it was exempt from the “pay-as-you-go” law. Bunning eventually agreed to lift his hold after being permitted to offer an amendment on funding, which was defeated. The unemployment benefits legislation with the flood insurance reauthorization then passed with a bipartisan vote of 79-19.
The NFIP sunset caused delays for some consumers waiting to close on the sale of a property within a flood hazard area.
While no new policies could be issued during the lapse in authorization, consumers with current policies remained covered by the federal program, according to the National Association of Insurance Commissioners.
This short-term extension is itself an extension of a previous emergency authorization of NFIP. In December, the Senate extended it to Feb. 28.
Last Thursday, the House passed the bill addressing the expiring federal programs, but Bunning’s opposition kept the Senate from advancing the legislation before the NFIP’s Feb. 28 deadline.
Congress has been working on longer-term legislation to authorize NFIP for up to five years, which would be welcomed by the insurance industry.
“We applaud the Senate for recognizing the urgency in extending the National Flood Insurance Program,” said David Sampson, president and CEO of the Property Casualty Insurers Association of America (PCI). “This vitally important program protects over five million families across the country. The recent debate in Congress underscores the need to bring greater certainty and stability to the flood program in 2010 and advance a long-term extension that ensures the program’s fiscal soundness.”
Posted by Benji Riggins on March 1, 2010 under Flood | Be the First to Comment
The Senate last week failed to vote on bills to extend several federal programs including jobless benefits, COBRA subsidies, transportation project funding and flood insurance before these programs expired Feb. 28.
A single senator, Jim Bunning, R-Ky., has derailed final approval of the programs’ extensions over concerns about how to pay for them, especially the extension of unemployment benefits.
The result is that the programs could be in limbo for about a week while the Senate finds a way to get the job done. The National Flood Insurance Program (NFIP) will not be able to issue new policies, increase coverage, approve renewal policies or pay claims until Congress approves reauthorization.
Bunning maintains that Congress has not paid for these extensions through any new funding or cuts as is required. Bunning, who is not running for re-election, said he supports extension of the benefits and programs including flood insurance but feels funding should be clear.
“The only difference I have, and some of my good friends from the other side of the aisle, is that I believe we should pay for it. There is a right over the last three years of the Democratically controlled Congress. We have run up $5 trillion in debt. There has to be a time to stop that,” Bunning said on the Senate floor.
Senate Majority Leader Harry Reid vowed that the measures would pass sometime this week but criticized the Republican’s tactics in delaying the approval of the programs.
“We talk a lot about Senate procedure in our debates, and that’s often appropriate. But it’s also often complex,” Reid said. “The catch here is that these benefits do not need to expire. We have the ability right now to extend them for just a short time until we work out a longer-term solution. It is irresponsible not to. It is immoral.”
If approved, the current bill would only extend the NFIP for a month, until March 28. There have been several short-term extensions within the past year.
The House has already approved the bills.
Guidelines for Carriers, Agents
The Federal Emergency Management Association (FEMA), which manages the flood program, issued a bulletin on Feb. 27 with guidelines for insurers and agents participating in the program in the event of a lapse. The agency did say that “any hiatus period should be brief, and most of the nearly 5.6 million flood insurance policyholders nationwide will not be affected.”
New policies for which insurers received payment on or before midnight of Feb. 28 will be issued and will become effective after the last day of effective authorization, regardless of the policy effective dates.
The NFIP recommends that companies writing flood insurance hold any premiums, renewals or added coverage endorsements received on or after Feb. 28.
Eventual reauthorization will likely be granted retroactively, and insurers can issue policies effective as of the date they received payments, according to FEMA.
Policies with a 30-day waiting period would become effective when both the 30-day waiting period has ended and Congress has reauthorized the NFIP.
By Andrew G. Simpson
March 1, 2010
Posted by Benji Riggins on February 14, 2010 under Safety | Be the First to Comment
North Carolina residents now have online access to information on malpractice lawsuits, convictions, suspensions, or other disciplinary actions taken against physicians and other medical professionals in the state.
The North Carolina Medical Board has expanded its Web site to include the data on the 35,000 licensed physicians and physician assistants it licenses and regulates.
The information includes malpractice suits that have been settled or lost since May 2008. The General Assembly established that cutoff date after medical providers, insurers and defense lawyers objected to posting older malpractice data.
The Web site www.ncmedboard.org allows consumers to search by a doctor’s name or by city.
The board has maintained a searchable database of information regarding its licensees’ education, training and professional background for several years. Those listings included board certifications and disciplinary history, if any, with the state medical board.
But a recent change in North Carolina law authorized the board to expand this information to include the malpractice liability payment information and additional details including final suspensions or revocations of hospital privileges; final disciplinary orders or actions of any regulatory board or agency; felony convictions; and misdemeanor convictions involving offenses against a person, offenses of moral turpitude, offenses involving the use of drugs or alcohol and violations of public health and safety codes.
Licensees are required to report this information to the board under state law.
Posted by Benji Riggins on February 9, 2010 under Safety | Be the First to Comment
Toyota owners should place safety first and follow the car manufacturers’ instructions regarding the recalled vehicles, insurers say. After the recall of some 8 million Toyota vehicles, insurers are urging vehicle owners not to hesitate on contacting Toyota dealers.
“If Toyota drivers experience any issues with their accelerator pedal, they should contact their Toyota dealer without delay,” said Robert Passmore, senior director of claims for the Property Casualty Insurers Association of America (PCI).
In the event that a driver experiences an accelerator pedal that sticks or returns slowly to idle position, Toyota says the vehicle can be controlled with firm and steady application of the brakes. The brakes should not be pumped repeatedly because it could deplete vacuum assist, requiring stronger brake pedal pressure. The vehicle should be driven to the nearest safe location, the engine shut off and a Toyota dealer contacted for assistance.
“Consumer safety is a top concern for the insurance industry and we are encouraged that Toyota dealers nationwide are beginning to make repairs on the vehicles involved in the recall,” said Passmore.
Insurers want consumers to know that if Toyota’s recalled part causes an accident, the driver’s automobile liability or physical damage insurance will provide coverage.
“This type of unforeseen event is what insurance is for,” said PCI’s Passmore. “If the pedal is a factor, the insurer will pay the claim for the driver and then likely seek to be reimbursed by Toyota. This is one less thing for the consumer to worry about.”
There is also good news for consumers because a vehicle recall by itself will generally not cause insurance rates to increase, Passmore said. “Looking forward, it is unlikely that rates would be affected by the recall.”
Over the years Toyotas have had a good safety record as evidenced by their popularity, so it is unlikely that there will be enough accidents caused by the faulty pedals that rates will increase, according to Passmore.
“Insurers look at the cost of claims over a period of time for vehicle,” he added. “They are interested in how much it costs to repair a vehicle and how often the vehicle is involved in an accident.”
While Toyota is pursuing repairs to recalled vehicles, the nation’s largest auto insurer says Toyota vehicle safety has been a concern for some time.
Posted by Benji Riggins on February 4, 2010 under Interesting Info | Be the First to Comment
In late December, congress approved an increase of $290 billion, which had allowed the government to borrow funds until February. And, while the Senate has approved legislation to increase it the limit $1.9 trillion to $14.3 trillion, a ceiling that high would be equivalent to about $45,000 for every American.
This news comes amid reports from the Obama Administration that this year’s deficit will reach $1.56 trillion, or 10.6 percent of the economy — the highest percentage since World War II.
Posted by Benji Riggins on February 1, 2010 under Safety | Be the First to Comment
Using a driving simulator, drivers in the study tended to decrease their minimum following distance when texting and also showed delayed reaction times. In fact, their median reaction times increased by 30 percent when they were texting and 9 percent when they talked on the phone. Drivers who texted also showed impairment in forward and lateral control.
According to the researchers, texting “requires drivers to switch their attention from one task to the other. When such attention-switching occurs as drivers compose, read, or receive a text, their overall reaction times are substantially slower than when they’re engaged in a phone conversation.”
Posted by Benji Riggins on January 28, 2010 under Insurance News | Be the First to Comment
Republican leaders in the North Carolina General Assembly say they want to protect North Carolinians from the Democratic-sponsored health care plan being debated in Washington.
So, they’ve come up with a plan to insulate state residents.
They want to exempt North Carolinians from a requirement that everyone carry health insurance.
“Republicans will not stand idly by and watch as citizens’ rights to make their own health care decisions are taken from them by the federal government,” Republican Senate leader Phil Berger said of national health care reform.
Republicans here are following the same game plan as those in other states, where similar efforts are underway. Arizona legislators have already agreed to put a ballot initiative before state voters to allow the state to “opt out” of a federal health care plan.
State House Speaker Joe Hackney, a Democrat, denounced the Republican talk as a political stunt. He apparently believes that thing called the U.S. Constitution might present a significant hurdle.
But why be so rash, so quick to condemn an idea that could hold all kinds of promise?
In fact, why not expand upon the proposal? Perhaps Republicans and Democrats could finally come together over a single purpose, the passing of an Omnibus Federal Exemption Act. Just imagine how many ways North Carolina could tell the federal government to go take a flying leap off a cliff.
The easy one here, of course, is an exemption from federal taxes. Legislators could call this one the Incumbency Protection Amendment. Who wouldn’t vote another term for the entire legislature after having your federal tax debt wiped clean? No more would North Carolina have to worry about sending more money to Washington than it gets back. The provision naturally would include an exemption from Internal Revenue Service audits.
Out in the business world, exemptions from federal labor laws would be popular. Eighty-hour work weeks with no overtime, paying men and women unequal pay, and eliminating the minimum wage could be the bold, new frontier of establishing North Carolina as the most business-friendly state in the country.
State lawmakers could exempt political donors from federal campaign giving limits. Oh, never mind. The Supreme Court is already handling that exemption.
In North Carolina, No Child Left Behind could become Kiss My Behind. All schools would be granted an exemption to the federal school accountability law. Current and future federal education secretaries would be banned from entering the state.
Finally, one way of creating a truly omnibus bill would be to exempt all North Carolinians from prosecution for violations of any federal law. This provision would be especially popular among certain former political officeholders and a few of their close friends.
Of course, this approach might create a few unforeseen problems. After all, the last time North Carolina told the feds to go jump in a lake, some fellow named Sherman burned and pillaged his way across the state.
Scott Mooneyham writes about North Carolina government and politics for the Capitol Press Association.
Posted by Benji Riggins on January 27, 2010 under Insurance News | Be the First to Comment
You may have heard that Allstate is non-renewing all of their monoline homes in North Carolina. The company released the following reasons:
They will begin non-renewing all monoline homeowners, LPP and manufactured homes that do not have auto support beginning in May 2010. There are approximately 44,000 home policies impacted.
Benji Riggins is an independent insurance agent and president of Statewide Insurance Group, Inc. He has been in the insurance industry for more than 20 years and is based in Union County, North Carolina with office locations in Monroe and Indian Trail.
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