Florida Underwriter August 2009
Cover Story
It's Still a People Business
With each new advance in computers and electronic media, the relationship between agency management and technology becomes increasingly complicated and interdependent.
Features
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Risks, Repairs, and Rising Premiums
A common misconception among policyholders is that home repairs should equate to reductions in loss exposure. Insurers have an opportunity to help customers differentiate between home repairs and structural improvements.
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Citizens' Board Approves New Rates
Even though the chairman of Citizens Property Insurance Corp. called it "fiscally irresponsible," the state's largest property insurer is moving ahead with a controversial new rate structure for 2010.
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Challenging Year for Specialty Markets
Reinsurance catastrophe renewal pricing for Florida-influenced programs increased approximately 15 percent over 2008. In markets not linked to property, however, the pricing news is mixed.
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Using Analytics for Pricing Risks and Managing Decisions
In today's disruptive insurance marketplace, rapid innovations in analytic technologies continue to revolutionize the concept of underwriting intelligence and efficiency.
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Social Web Tools Offer Unique Opportunities
Blogs, social networks, video sharing sites, microblogging, and other innovations have earned widespread acceptance in both business and personal communications.
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E-Mails -- Fast, Easy, and Dangerous
If you don't want to see your words blown up poster-size in a courtroom, don't hit that "Send" button in your e-mail program without giving it a lot of thought.
From the Editor
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More Changes in the Air
Almost lost amid the State Farm Florida versus Florida Office of Insurance Regulation battle is the story of how another former giant in our state's homeowners' market has become a bit player.
People
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New Leaders at FAIA
Steven Mitchell Clein, Clarence F. "Chip" Greene III, and Brian R. Scarborough, CIC, REBC, accepted their nominations and were elected to three-year positions on the Florida Association of Insurance Agents board of directors.
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Long Joins IWCP
Teresa A. Long has been named director of agency services for the Institute of WorkComp Professionals.
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DiFrancesco Joins PMSI
Paul DiFrancesco has joined PMSI as president of its medical services and equipment division.
Company Notes
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OIR Teams Up With Germany, U.K.
The Florida Office of Insurance Regulation (OIR) has signed separate Memorandums of Understanding with the German Bundesanstalt f?r Finanzdienstleistungsaufsicht (BaFin) and the the United Kingdom's Financial Services Authority.
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Rating Assigned to CFIC
A.M. Best Co. has assigned a financial strength rating of A- (Excellent) and issuer credit rating of "a-" to CastlePoint Florida Insurance Company (CFIC) of Ft. Lauderdale.
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Focus Acquisition
Focus Holdings, LLC, has closed on its acquisition of Capacity Insurance Co., a Florida domestic insurer. Douglas W. Bullington, CEO of Focus Holdings, will assume the same role with Capacity.
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Allstate Name Change, Downgrade
Allstate Floridian Insurance Co. has been renamed Castle Key Insurance Co. to differentiate it from its national parent.
Business Trends
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Branding Your Agency: Part III
Phil Knight, NIKE co-founder and chairman, has referred to one of the most recognizable professional basketball players of all time as ''brand Michael Jordan.''
They Say, Hearsay, and We Say
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Q&A With Scott Johnson
FAIA Executive Vice President Scott Johnson AAI, CAE, has been at the forefront of Florida insurance for over three decades. In a conversation with Florida Underwriter, he discusses the past, present, and future of our industry.
National Notes
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Consumers Still Value Agent's Help
Three-quarters of U.S. consumers prefer buying insurance products through agents and other trusted sources, but younger and higher-income consumers are more inclined to purchase products via the web than through an agent.
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Staying Covered
A new study by the Insurance Research Council finds that many Americans have taken steps to reduce personal insurance costs in response to the economic downturn, but that maintaining essential auto and homeowners' coverage remains a priority.
