The
THE VOICE OF TEXAS INSURANCE RE C O R D INSURANCE
Published Since 1934 • Dallas, Texas January 28, 2010 • Vol. 76 No. 2
Even in California, Few Have Earthquake Coverage for U.S. Property Losses
NEW YORK—The potential cost of U.S. earthquakes has been growing because of increasing urban development in seismically active areas and the vulnerability of older buildings, which may not have been built or upgraded to current building codes.
Compounding this problem is the fact that the vast majority of homeowners living in seismic zones do not purchase earthquake insurance, according to the Insurance Information Institute (I.I.I.), www.iii.org. In fact, only 12 percent of California homeowners have earthquake coverage.
Earthquakes are not covered under standard U.S. homeowners or business insurance policies. Coverage is usually available for earthquake damage in the form of a supplemental policy to homeowners or business insurance. Standard homeowners and business insurance policies may, however, cover losses from a fire following an earthquake, which would include additional living expenses and business interruption coverage. Cars and other vehicles are covered for earthquake damage under the optional comprehensive portion of an auto insurance policy.
continued on page 8
DALLAS—Preliminary reports from the U.S. Geological Survey classify as magnitude 2. 8 an earthquake that hit northern Texas on Dec. 5, 2009.
In This Issue
TDI December enforcement Actions Published
3
Lawsuit Reformer Takes Janus-like Look
7
Centered 15 km west of Waxahachie, the temblor was felt at Venus, May-pearl, and Midlothian, as well as Alvarado, Arlington, Desoto, Grandview, and Waxahachie.
Car Thieves Started New Year with a Bang
8
Insurance Industry Foundation Grantees Provide haiti Relief
10
The U.S. Geological Survey provides data regarding other earthquakes that have involved Texas during the past 128 years.
Court Cans Camacho for Conspiracy
11
The Oct. 22, 1882, earthquake felt in Texas was probably centered in Oklahoma or Arkansas; the total felt area covered about 375,000 square kilometers. At Sher- continued on page 4
SELLING STRATEGIES:
Selling Psychology
14
Nurse, CeO Arrested for health Care Fraud
15
Get THE INSURANCE RECORD digital edition — online — every other
Thursday. Send your customer number (found on your mailing label)
and your email address to: digital@spcpub.com to start receiving your
online edition every issue. You’ll still receive your printed edition in the mail.
III Proffers Property & Casualty Predictions
16
P/C Insurers Weathered economic Storm Better Than Most 20
NeWSPAPeR/$4.00
Standard Publishing Corporation
www.insrecord.com
References:
Archives