National Underwriter P&C April 25, 2011
Cover Story
Unusual Southeast Storms Bring Devastating Tornadoes To Region
Violent weather from Oklahoma to North Carolina on the weekend of April 15 has left hundreds of homes leveled and about 45 people dead.
Agency Management & Technology
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The Real-Time Divide: Small Agencies That Don’t Cross It Could Die
Having invested many tens of millions of dollars into technology over the past few years, large underwriters have developed tremendous competitive advantages, perhaps foremost among them the ability to write personal-lines business in real time. This real-time functionality—the ability to research, quote and deliver the policy to a customer...
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Use Technology To Facilitate Intergenerational Knowledge Exchange
Tom Suter, vice president of strategy and managing partner for Naviant, a Minneapolis-based technology consulting firm, says agencies need to find a way for the younger generation to tap into what he calls the experienced principals’ “fountain of knowledge.”
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Agency Culture: Going From Good To Great
Culture is the foundation of any insurance agency or brokerage firm. No matter how good your services and products, your employees or your people, without a strong culture your firm will never fully succeed.
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Agency Owners: Have You Analyzed Your Cash Lately?
Independent insurance agencies hold a significant asset on their balance sheets: the (often significant) cash in their bank accounts.
Special Report
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Conservative Views Find Friendly Venue At IIABA Meeting
If Republicans were in search of a friendly venue for their message of spending cuts and regulation reduction, they found a warm embrace a few short blocks from Capitol Hill at the recent meeting of the Independent Insurance Agents & Brokers of America in Washington D.C.
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CEO Insight, Part 1: Soft Market Ending
On the final day of the conference, agents met to hear a panel discussion with three insurance-industry CEOs and the president of the Insurance Information Institute on the state of the industry.
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CEO Insight, Part 2: Privatizing Flood Insurance
One issue of concern to both agents and customers is the future of the National Flood Insurance Program (NFIP)—still a subject of debate in Congress.
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As Acceptance Of Tracking Tools Grows, Consumers, Auto Insurers Set To Reap Rewards
Some insurers, in their never-ending effort to more accurately measure risk, have found drivers can help—and in the process, maybe save themselves a few bucks. A relatively new “telematics” tool is becoming more and more common in the automobile-insurance underwriting realm: pay-as-you-drive, or usage-based programs.
News
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PCI Files Brief In Climate-Change Case Before Supreme Court
Insurance-industry lawyers are calling a global-warming lawsuit based on nuisance laws “the most significant case for the property and casualty insurance industry before the U.S. Supreme Court this term.”
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Nelson To Replace Lord Levene As Lloyd’s Chairman
John Nelson is to be appointed the next chairman of Lloyd’s, replacing Lord Peter Levene in October, the Council of Lloyd’s says.
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P&C 2010 Net Income Up, But Underwriting Results Deteriorate
While private U.S. property and casualty insurers’ 2010 net income rose to $34.7 billion from $28.7 billion the year before, the industry’s net losses on underwriting for the year grew $7.4 billion compared to 2009.
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Political Unrest Affecting Insurer Appetites
As political unrest envelops North Africa and the Middle East, a global-insurance broker says insurers are reviewing their appetites for political coverage—at a time when multinational companies are being encouraged by events to perform their own risk review.
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ACE Leads Way For Bermuda Insurers In 2010
ACE Ltd. is the strongest Bermuda-based insurance company, according to data released by the Association of Bermuda Insurers and Reinsurers (ABIR).
Opinion
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The Great Equalizer: Technology For Personal Lines
No market is more competitive in the insurance world than personal lines. We don’t need any more proof of this than the onslaught of advertisements on television for our favorite insurers.
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Industry, Legislators And Administration Clash Over Dodd-Frank Implementation
The speed with which the Dodd-Frank bill should be implemented is generating conflict in Washington.
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Fly Ash: This Year’s Asbestos?
There may never be another mass tort that combines widespread bodily injury with long-tail exposure as effectively as the “miracle mineral” of asbestos. But there are some interesting parallels between asbestos and a developing threat known as “fly ash.”
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Government Has No Business Dictating Agent Compensation
Attorneys general, insurance industry executives and self-proclaimed consumer advocates who want to modify compensation for insurance agents and brokers don’t know what they are talking about, according to free-market advocate, Eli Lehrer.
