Filed Under:Carrier Innovations, Regulation/Legislation

In Personal Lines, Weather, Economy, NFIP Top Concerns

High-net-worth segment seen as growth area—though the wealthy need more insurance education; baby boomers also a demographic ripe for more coverage

Natural catastrophes headlined the world of personal-lines insurance in 2011. To gain some perspective on what to expect in 2012, NU asked an array of leading executives about their current concerns—and what trends and new developments will shape the personal-lines business this year.

LEONARD C. BREVIK
Executive Vice President and CEO
National Association of Professional Insurance Agents

KATHLEEN TIERNEY
COO,
Chubb Personal Insurance

We have the opportunity to emphasize the “personal” in personal insurance. One way we do that is to highlight the many services—beyond claims-paying—that make Chubb a valuable partner in asset protection. Home appraisals, wildfire-defense services, advice on how to protect your jewelry and art collections, and referrals to quality service providers are just some of what we provide to our personal-lines customers.

NEIL ALLDREDGE
Senior Vice President,
State and Policy Affairs National Association of Mutual Insurance Companies

We had hundreds of new legislators elected in 2010, and we’re still in the process of educating them on our issues and our industry. This is a great opportunity as we have legislators in many states who will be more receptive to our issues, but it is a challenge.

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