American Agent & Broker February 2012
Cover Story
Who Pays for National Catastrophes?
Although insurance capacity for catastrophic perils is still available and affordable, some experts say last year’s huge losses already are driving up insurance costs and could shrink capacity, federal financial assistance or both.
Features
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Filter Through the Pollution Market
Environmental experts agree that 2012 will be the year of the rate increase for pollution-related coverages. This presents both challenges and opportunities to independent agents, who must help customers understand the realities of the marketplace.
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Congress Stuck on NFIP Band Aids
Flood insurance program extended through May, but long-term reauthorization is still uncertain
Columns
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Valued Advice
Appeals Court rules agents not bound to advise about replacement cost value
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Beautiful Brevity
Both love and insurance benefit when words are concise
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Non-client Communication
It’s just as important to effectively communicate with carriers and colleagues
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Polls and Pundits
In insurance, as in politics, numbers don’t tell the whole story
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What Animals Teach
When it comes to niche marketing, we can learn from our animal friends
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nGI: Jessica Medlin
Consultative Broker, Edwards, Church & Muse
Departments
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Control What You Can
Catastrophes of the future may not arise from the usual suspects like hurricanes, flooding and earthquakes. We could be looking at even bigger problems that will affect the ever-connected globe.
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Different is Good
If the late Steve Jobs had thought that the best way to succeed in the computer business was to emulate IBM or Microsoft performed, hundreds of millions of people today would not be using iPhones and iPads.
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Reader Letters
Readers comment on articles in the September, November and December issues.
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IQ: $435B Economic Losses in 2011 Natural Disasters
At $107 billion, the total insured loss from natural catastrophes in 2011 was the second highest on record.
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IQ: Survey: P&C Industry Leaders Expect Better Profits in 2012
More than 70 percent of the respondents expect an improvement in commercial lines, but 55 percent said not to look for any upgrade in the workers’ compensation line.
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IQ: 5 Strategies to Succeed in 2012
Insurance buyers are continuing to be affected by fluctuating economic conditions, with unfavorable repercussions on the P&C industry, according to Ernst & Young’s Property-Casualty Insurance Industry Outlook.
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IQ: Survey: Family Financial Obligations Strong
Parents should support children through their college years, help with tuition and provide financial assistance during emergencies, according to 90 percent of respondents
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IQ: 17 States Rated "Green" for Driving Laws
States were given one of three ratings based on how many of the 15 optimal laws they have: Green (good), Yellow (caution, state needs improvement) and red (danger, state falls behind).
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IQ: Milliman: Pensions End 2011 Badly
Pensions experienced a $59.7 billion decrease in pension funded status in December
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Record Retention
When litigation is pending or foreseeable, create a litigation hold memorandum
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Is Transparency Clear?
NAIC Transparency/Readability Working Group to investigate policy transparency
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Market Directory: Pollution insurance
Resource Library
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