National Underwriter P&C February 14, 2011
Cover Story
Buyers, Don’t Get Too Comfortable With Low WC Prices
The hard hit public sector is seeing a slow recovery as the U.S. economy improves. Risk management needed to control comp costs, expert says.
Market Report
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Future Lloyd’s M&A Activity Up for Debate
One analyst believes an influx of mergers and acquisitions is unlikely at Lloyd’s of London, but an insurance executive said “bite-size chunks” offered by Lloyd’s may look appetizing to those seeking to grow and use some excess capital.
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Smith To Head Lloyd’s New U.S. Southeast Region
Lloyd’s announced the appointment of Rodney Smith as regional director for Lloyd’s America’s newly established Southeast region early this month.
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London Market Maintains Tradition With First Fully Electronic Property Placement
BMS placed the first electronic contract in the London Market via an iPad in January—a facultative property risk placed with the Catlin Syndicate.
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Rise Of U.K. Insurance Aggregators Suggests Change Is Ahead For U.S. Insurers
Accenture’s Michael Costonis explains the work that personal lines insurers have ahead on them as aggregators gain share in the United States—a trend that has already taken hold in the United Kingdom.
Buyer's Report
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Economic Recovery Lagging For Public Sector Comp Buyers
The hard hit public sector is seeing a slow recovery as the U.S. economy improves. Risk management needed to control comp costs, expert says.
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RRG Market Gets A Good Start For 2011
With four new RRGs licensed in the first few weeks of 2001, industry professionals have more hope for the market now than they have in recent years.
News
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Change In ‘Market Psyche’ Could Fuel Near-Term Turn, Marsh CEO Says
Market psyche change, not cat event, needed to turn the market, Marsh CEO Duperreault says, predicting one will come sooner rather than later.
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Soft Market Continues: January Begins Where December Left Off
Jan. 2011 figures now tallied, MarketScout’s monthly barometer has been stuck at minus-5 percent for three straight months.
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Legislation Introduced To Phase Out NFIP
Legislation has been introduced in Congress that would phase out the National Flood Insurance Program by the end of 2013.
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Trade Groups Ask FSOC To Delay Systemic Risk Oversight Authority
Trade groups representing the life, property and casualty, and reinsurance industries are asking the Treasury Department to defer indefinitely federal oversight of institutions deemed systemically risky.
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AIG To Take $4.1B Charge To Bolster Chartis Reserves
American International Group Inc. (AIG) said it expects to record a $4.1 billion charge in the fourth quarter to bolster loss reserves for its Chartis property and casualty unit.
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Dodd-Frank Would Not Have Prevented AIG Bailout, Former Fin’l Regulators Say
If the Dodd-Frank Act had been in place years ago, regulators probably still would not have intervened to stop problems at American International Group’s Financial Products unit, three former U.S. financial regulators said earlier this month.
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NU Seeks Entries To Award Top Workers’ Comp Risk Managers
National Underwriter is seeking entries for its fifth annual “Award For Excellence In Workers’ Compensation Risk Management,” sponsored by the National Council on Compensation Insurance.
Opinion
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What’s Your Claims Sign?
“Can an astrological sign really influence driving habits?” Allstate now regrets ever asking the question. Assistant Editor Chad Hemenway describes the ensuing Internet mayhem.
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Is Workers’ Comp Irrelevant?
In the wake of the passage of national health care reform, most employers—through coercion or incentive—are going to provide medical coverage. “So why have different medical delivery systems based solely on how one gets hurt or sick,” asks David DePaolo, giving one reason why workers’ compensation may be irrelevant.
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