National Underwriter P&C February 1, 2010
Cover Story
Credit Crunch Eases, But Tight Economy Putting Squeeze On Premium Financing
The long-term effects of the ongoing recession and the stubbornly soft commercial insurance market have put independent agents and their clients in an even more challenging environment in 2010.
Opinion
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Keep Producers Happy!
Agents and brokers! Can't live with them, can't live without them!
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U.S. Should Learn From Haiti Earthquake Disaster
The recent earthquake in Haiti was not the strongest ever by seismic standards, but the toll of human suffering is staggering.
News
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AIG Bailout Saved Economy From Utter Collapse, Geithner, Paulson Tell Congress
Had the U.S. government not taken action to bail out AIG, it would have proven to be an economic catastrophe for the nation, said Treasury Secretary Timothy Geithner and his predecessor, Henry Paulson.
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Greenberg Says Feds Should Renegotiate AIG Bailout Deal
The only way taxpayers are going to get repaid for their bailout of AIG is for Washington to radically renegotiate the terms of the deal, says AIG's former CEO Maurice Greenberg.
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P&C Insurers Could Be Hammered By Populist Backlash, Sampson Warns
Property and casualty insurers could easily be trapped in the "wave of political populism" sweeping the country in the wake of the nation's economic and leadership crises, an insurer association leader warned.
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House Plans Vote To Repeal McCarran Antitrust Exemption
House Democrats are planning a vote this week on legislation that would repeal exemption from federal antitrust laws under the McCarran-Ferguson Act for health and medical malpractice insurers.
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Brokers See No End To Soft P&C Pricing
Premium rates for commercial property and casualty insurance continued to fall in the fourth quarter of 2009, the latest Market Index Survey by the Council of Insurance Agents and Brokers found.
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2010 P&C Market Prices Should Be Stable, Marsh Says
This year's insurance market prices should remain soft but relatively stable, just as they were in 2009, officials from Marsh predicted in a report released last week.
Market Report
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Insurance Brokerage M&As Down 40 Percent, As Prices Fall
Merger and acquisition activity among insurance brokerages in 2009 dropped 40 percent over the previous year due to a generally tough economic environment and other factors, an investment banker reported.
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Soft Market For Agent/Broker E&O Cover Doesn't Mean Producers Can Ignore Risks
Like the rest of the commercial insurance sector, the market for errors and omissions coverage to protect agents and brokers continues to show signs of softening.
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Failure To Document Can Be Costly Error
If any agents or brokers doubt how expensive the simple act of not documenting a client's requests can be, all they need do is review a recent case in California where one brokerage is facing a $5.8 million judgment.
