National Underwriter Property & Casualty September 26, 2011
Because terrorist acts have unique characteristics that are unlike natural disasters, traditional loss-prevention tools often fall short when preparing for this risk, according to the Insurance Institute for Business & Home Safety (IBHS).
Is the world a riskier or safer place? We ask Mark Walls, assistant vice president of claims at Safety National.
Catastrophes continued to impact carriers through August, with personal-lines insurers reporting elevated claims activity for the month.
Insurers are unlikely to be subject to federal oversight through the Dodd-Frank act, a Congressional staffer says, but it is unclear whether the act will lead to heightened state regulation.
The number of questionable claims (QCs) filed during the 2011 first half increased 4.5 percent compared to the previous year, according to a recent National Insurance Crime Bureau (NICB) analysis.
A new study says rising workers’ compensation premiums are more closely associated with decreases in the Dow Jones Industrial Average and interest rates on U.S. Treasury bonds rather than higher claims payments—an assertion challenged by an industry association.
Pricing conditions in the airline-insurance market are not expected to change as the industry has demonstrated increasing attention to safety, according to Willis Group Holdings.
Lloyd’s on Sept. 21 announced an interim loss before tax of £697 million ($1.12 billion at current exchange rate) for the 2011 first half, compared to £628 million ($980.3 million) in profit for the same period a year ago.
Catastrophe losses in 2011 will reach the $1 billion mark for American Family Insurance.
After almost four years as an orphan, the National Flood Insurance Program is picking up some powerful parents. It is as if it has suddenly morphed from an ugly duckling into a beautiful swan. The reason is that the latest fashion in Washington is to bring in additional revenues without...
On Sept. 19, I moderated a roundtable discussion with the winners of our annual Commercial Agency of the Year Award. (No, I can’t reveal the winners yet—you’ll have to wait until next week, when we dedicate much of the issue to celebrating our champions and sharing their success secrets.)
After a couple of years of minimal (or even negative) organic growth and declining profit margins, insurance agents and brokers have put some halfway decent numbers on the board so far in 2011: Organic growth stands at 3.3 percent for the industry through the second quarter, and agents and brokers...
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