National Underwriter P&C March-30, 2009
Cover Story
Feds Seek Power To Regulate Insurers Like AIG As Bonus Brouhaha Cools Off
As discussions heated up over whether to give Washington broad authority to regulate insurers posing systemic risks to the economy, the controversy cooled somewhat last week over retention bonuses paid to players at AIG's Financial Products unit.
Opinion
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A View From The Press Box: The Taxman Cometh
Just as President Obama got his health care reform initiative started, a key point of controversy during his campaign against Sen. John McCain reared its ugly head--the notion that employer-paid coverage should no longer be tax-exempt.
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Is Eliot Spitzer To Blame For The Debacle At AIG?
In the midst of our worst economic crisis since The Great Depression, everyone is eager to choose one target as the scapegoat for the entire financial mess. Not surprisingly, most are pinning a good part of the blame on AIG
News
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Insurer Groups Protest Bill To Repeal Antitrust Shield
Two House Democrats last week introduced legislation that would repeal the antitrust exemption afforded insurers under the McCarran-Ferguson Act, but would retain the authority of states to regulate the industry.
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Lloyd's Sees Profits Cut In Half For 2008, But Satisfied Given State Of The Economy
Profits at Lloyd's last year plunged to $2.7B--less than half of the $5.66B reported for 2007--but its CEO was counting his blessings, contending the market's positive bottom line was "a pretty good result" given the state of the economy.
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Survey Finds U.S. Reinsurer Premiums Up 5.3% For 2008
A group of 19 U.S. property-casualty reinsurers saw net premiums written rise 5.3 percent, growing $1.2 billion to $23.9 billion for 2008, according to a Reinsurance Association of America survey.
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Travelers Says Boost In Online Sales Doesn't Mean Agents Must Hit The Road
The Travelers Company Inc. announced that while it will begin more aggressively marketing direct personal lines business over the Internet, the carrier still strongly backs its independent agent channel.
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Price, Compensation Don't Top Agency Satisfaction List
Rather than just steering business to carriers that offer the lowest price or highest compensation, it turns out the closer a carrier's relationship is with its independent agents, the more auto and homeowners insurance producers will send its way.
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NU Agency Of The Year Entries Invited
It's time for independent agencies that do an outstanding job selling insurance and providing risk management services for their clients to prepare their entries for NU's "Commercial Insurance Agency Of The Year" award program for 2009.
Market Report
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Medical Professional Liability Financial Results: Are Pigs Flying?
In looking at medical professional liability financial results, some people might say that pigs are indeed airborne.
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Med Mal Market Healthy, Prognosis Cautiously Optimistic Despite Downturn
The prognosis for the financial health of medical malpractice insurers seems cautiously optimistic, despite continuing economic uncertainty and a range of challenging underwriting conditions.
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Temporary Doctors, Hotel Doctors Find Med Mal Coverage In E&S Market
Facing increased paperwork, tighter insurance regulations and restrictions, and shrinking medical reimbursements, many doctors--especially primary care physicians--have given up their private practices and looked for alternatives.
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As N.Y. Med Mal Rate Freeze Approaches Expiration, Carriers Wonder What's Next
As a one-year mandatory medical malpractice rate freeze is set to expire at the end of June, interested stakeholders wait to see if state leaders will come up with a plan to address the state's worsening market.
