South Carolina uninsured motorists can pay to drive

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South Carolina will allow uninsured motorists to operate vehicles in the state if they pay an annual fee of $550, according to Bulletin 2016-11, which the state released on Dec. 20, 2016. The state said it will place collected funds in the Uninsured Motorist Fund and distribute it among insurers writing motor vehicle bodily injury […]

Pennsylvania Plate Readers

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Pennsylvania discontinued its practice of issuing license plate registration stickers effective Jan. 1, 2017. To confirm that a motorists ’s vehicle registration is current and properly insured, the state now will rely on license plate-reader technology to scan license plates. The state estimates it will save $2 million in mailing costs and $1 million in […]

January 2017 Preview: Historical Catastrophe Activity

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With winter on its way, we look ahead to January cat event risks. Catastrophic January storms since 2007 have caused nearly $5.9 billion in insured losses. PCS has designated 16 catastrophes during the month of January between 2007 and 2016, including 10 winter storms and six wind and thunderstorm events. Last January, we saw the […]

December 2016 Preview: Historical Catastrophe Activity

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The 2016 hurricane season ended November 30 with two PCS® catastrophe designations from Atlantic Basin hurricanes that made landfall in the United States. We discussed Hurricanes Hermine and Matthew in our previous post. As winter approaches, we note that the month of December has brought 11 PCS-designated catastrophes since 2006. Those events generated approximately 490,000 […]

November 2016 Preview: Historical Catastrophe Activity

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The 2016 hurricane season will come to an end on November 30. So far this year, two catastrophes have been designated as tropical events. Hurricane Hermine affected Delaware, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia between August 31 and September 4 and resulted in approximately $245.6 million in insured losses. The other tropical […]

MVICS Discontinued

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The Connecticut Department of Motor Vehicles no longer requires auto insurers to file reports through its legacy Motor Vehicle Insurance Compliance Reporting System (MVICS). The state DMV suspended the legacy system effective September 29, 2016. Going forward, insurers are only required to submit reports to the Connecticut Insurance Verification System (CTIVS). CTIVS, introduced in June […]