National Underwriter P&C December-14, 2009
Opinion
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Agencies Can Still Grow Despite Tough Economy
As we approach the end of 2009, many agents and brokers are focusing on business and strategic planning for 2010 and beyond.
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Tiger's RM Is Off-Course
Great minds think alike. That was my first reaction to Maureen Dowd's column in the New York Times, in which she echoed my sentiments on the Tiger Woods debacle, expressed in my NoRiskZone.com blog of Friday, Dec. 4.
News
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Consumer Groups Hammer IIABNY Over Possible Agent Disclosure Lawsuit
Four consumer groups are blasting the Independent Insurance Agents and Brokers of New York for their threat to sue the state insurance department over proposed compensation disclosure regulations.
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Surveys Clash Over P&C Market Direction
A pair of pricing surveys clashed last week over whether commercial insurance rates have stabilized and are heading up slightly on average, or are in fact continuing to decline in a persistently soft market.
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Insurers Seen As Potentially Vulnerable To Drywall Claims
Language contained in their own claims manuals might void policy exclusion provisions insurers have used to deny Chinese drywall homeowners claims, according to an insurance law expert.
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NAIC Takes Heat On Climate Change Poll
The regulator leading the National Association of Insurance Commissioners' controversial effort to collect insurer climate risk data said companies will be given lots of leeway in responding.
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Consumer Rep Complains He's Outgunned By Insurers
Consumer advocates face an institutional bias at the National Association of Insurance Commissioners because they lack the people and money to level the playing field in lobbying regulators.
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NAIC Regulatory Reform Proposal Would Preempt States' Rights, Critics Say
State legislators have slammed a National Association of Insurance Commissioners proposal for regulatory reform, charging it would permit federal authorities to take over their insurance lawmaking function.
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Insurer Groups Say Prefunding For Systemic Risk Not Needed
Major insurance trade groups are asking the Senate Banking Committee not to require large financial institutions to prefund a systemic risk resolution fund as part of financial services reform legislation.
Market Report
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Recession Doesn't Diminish Enthusiasm For Employee Benefits Sales, Services
The recession is putting a strain on the earnings produced by the employee benefits business of independent agents and brokers.
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Benefit Vendors Need To Be Your Partners To Assure Success
As nearly every sector has struggled in this rocky economy, one recurring thread that has tied them together is the value of good strategic partnerships.
Technology Trends
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Shared Risk-Reward Model Positions Insurers To Eye Outside IT Staff Partners
The tough economic realities of the past year have led insurers to fundamentally re-evaluate how they interact with IT vendors.
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Survival Of The Fittest Mentality Helps Insurers Turn IT Adversity Into Advantage
Most insurance companies went into survival mode in 2009 to get through the economic collapse. Many turned to innovative technology measures to boost business.
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Adaptable IT Frameworks Help Insurers Fuel Transformation For A New Economy
The insurance business, as we knew it, changed profoundly in 2009--transforming at a velocity never before seen in our historically slow-to-change industry.
