National Underwriter P&C May-25, 2009
Cover Story
Insurers Can Polish Their Image While Boosting Bottom Line
Why is it that so many people seem to hate--or at the very least, distrust--the insurance industry?
Opinion
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A View From The Press Box: Time For Tough Love
I have a feeling I'm going to get flack for my cover story this week about how to improve the insurance industry's image.
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What We Have Here Is A Failure To Communicate
The firestorm over executive bonuses at American International Group earlier this year underscores the deep distrust everyday Americans harbor for financial services companies, even before the controversial AIG bailout by taxpayers.
News
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Allstate Says Thanks, But No Thanks To Offer Of Federal TARP Rescue Money
Allstate Corp. last week announced it would not participate in the government's Troubled Asset Relief Program, explaining that it already has adequate capital and cash on hand.
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Liddy To Step Down From AIG Positions
American International Group's embattled chairman and chief executive officer, Edward M. Liddy, will step down as soon as replacements can be found, with the two leadership positions to be filled by separate individuals, the company announced last week.
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The Hartford Says It Won't Sell Property-Casualty Operation
After qualifying for $3.4 billion in U.S. bailout cash last week from the federal government's Troubled Asset Relief Program, The Hartford said it will not be selling its property-casualty, group benefits or life insurance businesses.
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NU Agency Tech Award Winners Call Collaboration Critical For New Systems
Insurance agencies seeking to upgrade their technology systems should not only consider the needs of clients and insurance carrier partners, but must also collaborate with their producers and support staff to assure a smooth, successful transition.
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Expect Leaner, More Efficient Insurance Industry To Emerge
The struggling economy will spur mergers and crimp insurer profits in the short term, but not far down the road there will be opportunities to achieve greater efficiency and profits, according to the head of LOMA, Robert Kerzner.
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Wholesale Brokers Could Benefit From Rise Of Entrepreneurs After Downturn
Wholesale brokers are in a prime position to grab new business when a revived economy begins producing start-up companies that standard line carriers won't insure, a trade group leader advised here.
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Forbes Says Insurers Should Have Their Choice Of Regulator
Insurers should choose who will regulate them--unless they are so big and widespread that only federal oversight will do the trick, magazine publisher and former Republican presidential candidate Steve Forbes told an industry conference here.
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NU Agency Of The Year Spotlights Top Role Models
Independent agencies that do an outstanding job selling insurance and providing risk management services for their clients are invited to enter the 2009 National Underwriter "Commercial Insurance Agency Of The Year" award program, with entries due July 13
Market Report
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Insurer Outreach Campaign Required To Convince People Fraud Hurts All
America's moral spine is wobbling. Consumers tolerate insurance schemes more--and like the insurance industry less--than they did 10 years ago, research by the Coalition Against Insurance Fraud reveals.
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Worldwide Regulators Tightening Multinational Insurance Requirements
Regulators around the globe are toughening up insurance requirements for companies doing business outside their domiciled countries, and the companies worldwide are demonstrating a greater willingness to focus on regulatory compliance.
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Companies Cutting Overseas Staffing
Companies are cutting back on sending individuals overseas for business, which is affecting the international market.
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