National Underwriter P&C November-09, 2009
Cover Story
Producers Seek More Input, Tech Support, Better Compensation In Satisfaction Survey
While the majority of producers appear to be basically satisfied with many key aspects of their dealings with carriers, there is still plenty of room for improvement.
Opinion
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Go Back To The Future With Re-Client Relations
As a 25-year veteran of the insurance and reinsurance industry, I have seen dramatic changes in the reinsurance relationship. Some of these changes have been for the good--such as in capital management and actuarial modeling of risk.
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Can We Talk?
"What we have here is a failure to communicate."
News
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Systemic Risk Bill May Do Consumers More Harm Than Good, Insurers Warn
The authority of federal regulators to oversee and liquidate large, troubled insurance companies should be significantly pared back in legislation Congress is considering to deal with systemic risk to the economy, industry leaders are arguing.
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OFC Unlikely, Illinois Regulator Predicts
Direct insurance regulation is likely to remain a state rather than federal function, Illinois Insurance Director Michael McRaith predicts.
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CBO Finds No Savings From Altering Antitrust Exemption
Legislation to modify the federal antitrust exemption for health and medical malpractice insurers "will have no significant effect" on premiums charged for private health insurance, the Congressional Budget Office has determined.
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Agents Hammer Congress For Another Brief Flood Insurance Program Extension
The U.S. Senate's vote to continue the National Flood Insurance Program for only 46 days drew fire from an insurance agent group, which warned against playing "Russian roulette" with policyholders.
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Claims Pros Report Stagnant Pay
Stunted wages, heftier workloads and shriveling benefits are just a few of the challenges that continue to plague claim professionals, according to the 2009 Salary Survey conducted by Claims magazine.
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MMC Celebrates Return To Profitability
Marsh & McLennan Companies Inc. reported third-quarter net income of $221 million despite declining revenues in most segments.
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Willis Says No Contingents Even If States Lift Bonus Ban
Willis Group Holdings Chair and Chief Executive Officer Joe Plumeri reiterated his position that his firm will not take contingent commissions, even if a five-year-old agreement banning them is lifted.
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Flu Cases Could Spark Many Types Of Liability Claims
Property and casualty insurers can expect to be hit by a swirl of claims arising from swine flu that include actions against homeowners, businesses and health care facilities, a medical malpractice defense attorney predicts.
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Agencies Cite Tech As Key Growth Factor
They're located in Canada, Florida and a Mississippi Gulf Coast town still reeling from Hurricane Katrina. They have as few as 10 employees and as many as 250.
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Aging Claims Systems Can Leave Insurers In The Lurch
Property and casualty insurers are faced with difficult choices when dealing with aging claims systems, which can't provide the high level of service that customers expect from their carriers today, one leading consultant warns.
Market Report
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Producers Brace For Competitive Threats
Producers are feeling the heat in this tough economy, expecting buyers to cut back on coverage, push harder for the best price and go bare in some areas, according to a new Producer Satisfaction Survey.
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Size Matters When Dealing With Insurers
While producer priorities and perceptions of how well insurers are fulfilling their needs are often alike no matter the age, gender or race of respondents, there are some significant differences carriers should be aware of.
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Shore Up Fiduciary Liability Insurance Policy Language, Broker Expert Advises
In a time of increasing uncertainty for benefits plan fiduciaries, greater focus on the terms and conditions of fiduciary liability insurance policies is of paramount importance, a brokerage expert believes.
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Small-Cap Board Members Face Exposure
Many small-cap companies--those with the lowest levels of market capitalization--are currently facing a Catch-22 situation that impacts members of their boards of directors.
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Allied Health Market Seeing Insured Growth, But Steep Insurer Competition
If there's a common thread among underwriters and insurance brokers serving the growing allied health industry, it is fierce competition triggered by a soft property and casualty market and excess capacity, experts contend.
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Errors & Omissions Cover Required For Self-Employed Business, Consultants
Errors and omissions policies are not just the purview of the mega-brokers.
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Capacity Trumps All Other Issues Fueling Persistently Soft D&O Market
After an unexpected second-quarter dip, securities lawsuit filings shot back up in the third quarter.
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Will Fin'l Institution D&O Rates Stabilize?
Even though securities suits related to the Madoff Ponzi scheme and the credit crisis trailed off in third-quarter 2009, financial firms were still the leading type of company sued with one-third of the cases filed, a research firm reported.
