National Underwriter P&C November-25, 2008
Cover Story
Insurers Tap Biomechanics To Fix Blame For Injuries Claimed In Crashes
As insurers look to biomechanics as a way to combat insurance fraud, courts are accepting the testimony of biomechanical experts to varying degrees, and one company in New York is seeking to make it
Opinion
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Economic Woes Won't Beat Resourceful Agencies
As the sun sets on 2008--a tumultuous year for the U.S. economy--uncertainty permeates all industries, including insurance distribution. While no one can exactly predict the future, these are some of
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Spitzer Told Us So
Less than a year after resigning as New York's governor due to his scandalous involvement with a prostitute, Eliot Spitzer has emerged from political exile to put in his two cents about how to
News
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AIG Defends Retention Program Payments
In a week that saw American International Group lose one of its senior officials, the carrier defended its controversial payments to retain key executives, warning it could lose valuable employees
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Carvill Brokerage Will Go Out Of Business Next Year
Rory Carvill, chairman of the parent company R.K. Carvill (International Holdings) Ltd., cited rising costs and economic conditions when notifying clients in a letter obtained by NU, written on Dec.
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Decline In Independent Agencies Stops, But Revenue Growth Harder To Come By
The decline in the number of independent insurance agencies has come to a halt over the past two years, although revenue growth has slowed in the soft market, according to a study sponsored by the
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NAIC Modifies Climate Change Data Call
A compromise may be near on a proposal by insurance regulators--one that's met stiff industry opposition--to have carriers assemble and disclose information related to the impact of climate change on
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NAIC Approves 'Framework' To Revise Foreign Re Collateral
While final details remain to be put in place, the nation's state insurance regulators--after nearly a decade of study and debate--have adopted a "conceptual framework" to modify the 100 percent
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Showdown Looming Over Taxation Of Offshore Affiliated Reinsurer Deals
A key senator requested feedback last week on proposed legislation that would close a loophole providing a tax advantage to some offshore insurers, setting the stage for a showdown in Congress next
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NU Seeks Agency Tech Award Entries
However, insurers, managing general agencies and tech vendors are also welcome to nominate an agency for NU to contact about entering the award program--although a nomination is not required for an
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Sam's Blog: Spitzer Makes Sense About Need For Regulation
Less than a year after being forced to resign due to a personal scandal, New York's former governor and attorney general, Eliot Spitzer, emerged from his self-imposed political exile to put in his
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Sam's Blog: Consumer Advocates Should Offer Full Disclosure
While it's proper for the NAIC to give consumer advocates a free ride to their meetings to make sure the average buyer's perspective is taken into account, those accepting such funding should fully
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Sam's Blog: Are Contingency Fees Ethical?
NU's latest quarterly ethics column focuses on the controversy over whether insurance agents and brokers can continue accepting contingency fees from insurers without creating a conflict of interest
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Sam's Blog: Insurers Need A Pop Culture Hero!
Insurance lacks any positive role models in pop culture to counteract the generally negative feelings dominating the public's perception of the industry, says NU Editor In Chief Sam Friedman, who
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Sam's Blog: Did Uncle Sam Stack The Deck With AIG's Bailout?
One question left unanswered in the mad rush to keep the economy from sinking into oblivion is whether AIG's federal bailout unfairly skewed the playing field against its competitors, says NU Editor
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Sam's Blog: Obama Puts Health Care Reform Back On The Front Burner
Anyone who doubted whether Barack Obama would keep health care front and center on his legislative agenda were proven wrong today, as the president-elect introduced his new reform czar, Tom Daschle.
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Sam's Blog: Show Us The Money!
Can anyone explain where the money for the federal government's $700 billion bailout fund is coming from? Are we simply printing whatever money we need, heading the way of the infamous Weimar
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Sam's Blog: Will Industry Be Swimming In Red Ink?
With premium volume dropping, underwriting losses soaring and the third-quarter bottom line plummeting into negative territory, you have to wonder if the industry will end up in the red when the
Market Report
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New ASCnet Chair Urges Patience On Adoption Of Real-Time Tech
While the goal of universal adoption of real-time technology for agent-carrier transactions remains elusive, newly-elected ASCnet Chair Mike Montgomery believes much can be achieved if both agents
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Soft Market, Recession Drive P-C Agents To Cross-Sell Life, Health, Fin'l Products
A dearth of catastrophic storms over the past three years--with one or two exceptions--has left the insurance industry with unused underwriting capacity, excess capital and falling premium rates. The
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New Tech Boosts Insurer Anti-Fraud Efforts
Vendors develop, upgrade software systems to better leverage information
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Agency Outsourcing Is About Productivity, Not Downsizing
The stubbornly soft insurance market, coupled with the deepening economic recession, has agents and brokers scrambling to find ways to streamline operations, give clients more face time and focus on
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Forensic Meteorologists Help Expose Phony Weather Claims
Much like when the police call in a crime-scene investigation unit to probe suspected foul play, many knowledgeable insurers, when faced with questionable weather-related claims, are turning to
