National Underwriter P&C July-26, 2010
Cover Story
P&C Insurer Bottom Lines Recover, But Combined Ratios Worsen For Key Lines
In 2009, the property and casualty insurance industry recovered from a devastating global financial crisis that had drained 12 percent from policyholder surplus and nearly erased the net income recorded the year before.
Opinion
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Do Agent Conflicts Go Beyond Contingents?
Joe Plumeri, head of Willis Group Holdings, launched a broadside at the independent agent community in last week's National Underwriter.
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Fin'l Services Reform To-Dos Likely To Linger
One of the most famous quotes of baseball legend Yogi Berra was his adage: "It ain't over till it's over."
News
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Focus Shifts To Regulation Writing, Implementation On Fin'l Reform Law
President Barack Obama signed financial services reform into law last week, setting in motion an intense effort by interested parties to shape the regulations and government bodies that will implement the legislation to their liking.
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Insurers Blast Flood Bill Over Concurrent Causation
The House passed a five-year extension of the National Flood Insurance Program, but a concurrent causation amendment is prompting fierce industry opposition, and it is unclear whether the Senate will even take up the measure this year.
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Aon Draws Fire On Contingency Move
After several years of doing without contingent commissions, insurance broker Aon said it plans to begin accepting bonus compensation from carriers once again.
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Surveys Shows No Letup In Soft Commercial Market
There appears to be no relief for insurers in the buyer's market for commercial property and casualty coverage, as excess capacity and falling demand have prompted average rate cuts to accelerate.
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AIG Agrees To Pay $725 Million To Settle Securities Class-Action Suit
AIG agreed to pay $725 million to Ohio and Florida public pension plan funds in a securities class-action settlement to resolve bid-rigging allegations that the funds said had negatively impacted the company's value.
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Hurricane Ike 'Slab' Claims Settled By TWIA For $189M
Almost two years after Hurricane Ike nearly wiped out the town of Galveston, Texas, the Texas Windstorm Insurance Association has agreed to pay an estimated $189 million to policyholders whose homes were destroyed by the storm.
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Catastrophe Plans Go Stale On The Shelf, Risk Managers Warned
Putting a crisis plan in place to deal with a catastrophe is not enough--the program must be regularly tested, revised and treated as a "living document," risk management experts advised during a recent webinar.
Market Report
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Mutual Insurers Must Adapt To Survive
Mutual insurers have a highly successful history in the United States and enjoy a loyal following among their clients, who like the personal service and value they are able to provide.
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Who Will Cover My Shrunken Heads?
In collecting, there is a passion, a sense of pride, and oftentimes a story that transcends the material structure of a particular item or group of possessions.
