National Underwriter P&C May-13, 2008
Cover Story
AIG Rebuilding After $7.8 Billion Loss
American International Group held its annual meeting last week, facing only limited fire from shareholders over a bottom-line loss of $7.8 billion announced days earlier, even after some public
Opinion
-
Performance Metrics Enable IT To Quantify True Value
Insurance is an information business. As the market becomes more competitive and information processing capabilities become more advanced, insurance company executives universally understand that the
-
The C-Suite Beckons
Janice Ochenkowski, president of the Risk and Insurance Management Society, works hand-in-hand with her CFO. While this should be the rule rather than the exception, too many risk managers still find
News
-
ACORD LOMA--The Under Cover Report
By now, you've probably heard some things about what went on at the recent ACORD LOMA Insurance Systems Forum, but NU's Ara Trembly has the additional unofficial tidbits you won't want to miss. Get
-
Security Fears Dog Enterprise Wireless Adoption
Popular new devices like Apple's iPhone have reignited the debate over 'consumerization'--where new technologies are introduced into the consumer market and then brought into the enterprise
-
Modelers Mull China Earthquake Loss Totals
Late in the week only one firm, AIR Worldwide in Boston, had put out a figure for insured loss--from $300 million to $1 billion--but it cautioned that there is a high level of uncertainty in insured
-
Future Dim Without Real-Time Processing
Independent agencies and their insurance carriers that fail to embrace real-time data processing will soon start losing market share and could find themselves out of business over the long haul, a
-
NU Extends Award Deadline
All three finalists will be profiled in NU's Sept. 29 edition, and will win a free weekend trip to New York to participate in a Sept. 26 "NU Roundtable" to discuss "The Future of the Independent
-
Berkley Blasts Rating Firms, Models
Speaking at the National Council on Compensation Insurance annual symposium here, Mr. Berkley, W.R. Berkley's chairman and chief executive officer, also leveled criticism at insurers whom he said had
-
FASB Ignores Business Realities: Berkley
Accounting rules that contributed to recent problems at American International Group and other giant financial institutions have made financial statements less clear and less transparent for
-
Senate Passes Flood Bill Minus Wind Coverage
Despite strong support in the Senate last week for legislation reauthorizing and reforming the National Flood Insurance Program, it remains unclear how--and how promptly--Congress will move to
-
Program Managers
Although no two program administrators travel the same roads to success in the program business segment, the unique approaches they develop to deliver consistent underwriting results to carrier
-
Allstate Suspended In Florida
The suspension was sought in January by Florida Insurance Commissioner Kevin McCarty after the insurer balked at a subpoena seeking massive amounts of material concerning ratemaking and
Market Report
-
Program Administrators: A Breed Apart
Glenn Clark, the founder of the Delaware, Md.-based Target Markets Program Administrators Association, responded to the question initially by distinguishing retail agents from wholesalers (whose
-
Real Estate Agents, Mortgage Brokers Could Leave Subprime Crisis Unscathed
These losses will clearly eclipse those caused by the implosion of Long Term Capital Management, a hedge fund that collapsed in the late 1990s, and the entire liquidated loss of the Resolution Trust
-
Vacant Property: A Growth Opportunity
They're the perfect party places for teens, safe havens for vagrants, or in some cases, havens of criminal activity. They're attractive to many people up to mischief because of all things--they're
-
Forward-Looking Project Reveals Need To Redefine MGA Value
Scott Anderson, owner and executive vice president of Concorde General Agency and a past president of the American Association of Managing General Agents, found this out while fleshing out an idea he
Buyers Report
-
Insurance, The Jewel In Bermuda's Crown
With a responsive government, a solid infrastructure, a great location and $444 billion total assets--$72 billion captive-related--Bermuda's insurance industry, the "gem in Bermuda's crown," is still
-
Bermuda Growing, But Not As Fast
Declining premium rates have slowed formation of new insurance and reinsurance carriers in Bermuda, with 71 new insurers set up on the island last year, down from 82 in 2006, according to the Bermuda
-
Challenges Ahead For Bermuda: Fitch
The Bermuda Market Overview, released in March, concluded that Bermuda continues to develop as a thriving domicile for reinsurance and insurance organizations. This growth is attributable to an
-
Some Risk Managers Slow To Respond To High-Impact, Low-Probability Events
Although more than half of firms surveyed were hit with a high-impact/low-probability event last year, not all adjusted their risk management practices to contend with future ones, and fewer than
-
Spencer Sets $266,000 In RM Scholarships
The Spencer Educational Foundation Inc. announced that more than $266,000 will be awarded this year to select undergraduate, graduate and doctoral students in the risk management and insurance
