National Underwriter Property & Casualty October 17, 2011
In addition to the company profiles featured in the Aug. 22/29 issue of National Underwriter, the risk managers from these award-winning companies participated in a roundtable discussion at the Workers’ Compensation Educational Conference in Orlando. Here’s what they had to say.
Becoming more involved with and helping manage lawsuits would benefit both the professional standing of risk managers—and their companies, according to industry experts.
Jack McCalmon, president of The McCalmon Group Inc. in Tulsa, Okla. and partner at Titus Hillis Law Firm in Tulsa, advises risk managers to get involved early and often with their company’s litigation—and to lobby for settlements as the best cost-control strategy.
Hackers, known for going after large organizations to steal data, now have an eye toward easy pickings in smaller companies, according to Markel’s IT and data-privacy underwriting expert.
American International Group (AIG) lost its long-held spot at the top of the surplus market in 2010 after a 13 percent decrease in direct-premiums written, says insurance-rating-agency A.M. Best Co. in a special report released at this year’s NAPSLO convention.
Risk Management Solutions’ revised catastrophe model, which is frequently cited as a reason for recent rate increases for some property risks, was a hot topic at the National Association of Professional Surplus Lines Offices convention, held in San Diego Oct. 10-12.
A large vessel carrying what looked to be hundreds of cargo containers was docked in the San Diego Bay during the first day of the National Association of Professional Surplus Lines Offices convention.
Two Texas residents are feeling the heat after admittedly torching their home to collect insurance, only to later renege on their joint promise to repay the insurer, Texas Farm Bureau Underwriters.
So just what do juries think when tasked with evaluating the insurance company as a defendant?
Wolters Kluwer Financial Services is expanding its consulting services for U.S. insurance and securities firms to help them address the challenges of enterprise-risk management (ERM).
Workers’ compensation lost-time claims increased 3 percent last year, the first increase in such claims since 1997, the National Council on Compensation Insurance Inc. (NCCI) reports.
Leonard D. Crouse, former director of captive insurance in Vermont and a leading spokesman for the captive-insurance industry, received the inaugural Karen Cutts Visionary Award from the National Risk Retention Association (NRRA) at its annual conference held Oct 5-7.
The first-half results for property and casualty insurers are in, and the numbers are not very pretty, as the industry reported more than a 71 percent drop in net income.
One of the many aspects that I love about covering the P&C industry is that it touches just about everyone—anyone, that is, who owns a car or a home, which covers a vast percentage of America.
It’s easy to understand why an insurer with a less-sophisticated rate structure might see imitation ratemaking as a convenient solution. But it has many costs and considerable business risks.
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