Public Sector Risk Management

• NAMIC Reps Rally Behind Building Code Legislation

  By Arthur D. Postal, PropertyCasualty360.com  |  July 26, 2012

  Representatives of an industry association voiced strong support for legislation that would provide additional incentives to states that adopt uniform and enforceable building codes.

• Q2 Cat Bond Issuance at Highest Level Since 2010; Analytics Driving Capital-Markets Interest

  By Phil Gusman, PropertyCasualty360.com  |  July 24, 2012

  Second-quarter catastrophe-bond issuance increased in 2012 over 2011, and a recent analysis describes the current market outlook as “very encouraging” as strong investor demand and available capital point to increased issuance from sponsors going forward.

• Regulators: Reinsurers No Threat to Financial Stability

  By Reuters  |  July 19, 2012

  Traditional reinsurance poses no threat to global financial stability, but the industry should still be closely watched because of its peripheral involvement in potentially risky activities, regulators said on Wednesday.

• 

  Senate Looks to Raise Crop Insurance Premiums for Some Farmers

  By Arthur D. Postal, PropertyCasualty360.com  |  July 18, 2012

  Crop-insurance agents are voicing deep concern about a Senate plan to establish a “means test” for crop-insurance premiums that would raise rates for some farmers by 15 percent.

• 

  MBIA Exposure to San Bernardino $33M; More Bankruptcies May Follow

  By Mark E. Ruquet, PropertyCasualty360.com  |  July 13, 2012

  National Public Finance Guarantee Corp. says it has $33 million in municipal bond exposure to the city of San Bernardino, Calif., as the city becomes the third in the state this year to file for bankruptcy protection.

• Politics, Policyholder Sentiment Drive Rapid Residual Market Growth

  By Phil Gusman, PropertyCasualty360.com  |  July 12, 2012

  A combination of higher coastal populations, artificially suppressed rates for last-resort insurers, and the inability of insurers to charge rates commensurate with risk along the coast has driven the residual property market in hurricane-exposed states to new peaks in both exposure value and policy levels, says the Insurance Information Institute....

• 

  Consumer Focus Continues to Drive Legislative Changes for P&C

  By Kathy Donovan  |  July 12, 2012

  State legislatures continue to provide P&C insurers with new mandates. Whether directed at claims or underwriting, these mandates have a strong focus on the consumer.

• 

  Organized, Violent Criminal Empires Target Insurers

  By Dennis Jay  |  July 10, 2012

  A violent criminal underworld of drug dealers and mobsters is pooling resources to defraud insurers. The Coalition reports on better-mobilized fraud gangs and masterminds' stunning heists, including a $400M crash-injury scheme and a $163M Medicare heist.

• 

  To Avoid Becoming the Next ‘Eurozone,’ U.S. Must Get Serious About ERM

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 29, 2012

  Given the phenomenal budget challenges faced by the federal, state and local governments, the U.S. must adopt a cohesive and adaptable Enterprise Risk Management strategy in order to avoid becoming the next Eurozone, a risk expert says.

• 

  Another Big Burn? Wildfire Disaster Claims in 2012

  By Jeff Berino  |  June 25, 2012

  The 2012 wildfire season began early, and with great force. Here, a Colo. deputy fire chief advises on the advantages of a team approach to handling wildfire claims and potential subrogation.

• 

  Marine Underwriters Frustrated with FBI's Cargo Theft Monitoring Efforts

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 25, 2012

  The marine-underwriting industry has grown frustrated with the Federal Bureau of Investigation’s cargo theft data collection efforts, according to a June 11 letter sent to the FBI by industry representatives.

• Colorado Fire Near Pikes Peak Forces 11,000 from Homes

  By Keith Coffman, Reuters  |  June 25, 2012

  A fast-growing wildfire in Colorado forced 11,000 people from their homes at least briefly on Sunday and threatened popular summer camping grounds beneath Pikes Peak, whose vistas helped inspire the patriotic tune "America the Beautiful."

• The Challenges & Opportunities in European, Latin American Business Environments

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 8, 2012

  The established insurance markets in Western European countries and the developing markets in Latin American countries present separate sets of challenges for insurers looking to grow in these regions, but unique opportunities exist for those who understand and take advantage of the different business environments, regional experts say.

• Infrastructure Option: Public-Private Partnerships Offer Unique Benefits, Risks

  By Bonnie Cavanaugh  |  June 4, 2012

  Public-sector risk managers look to such options as public-private partnerships and Workers’ Comp-reduction programs, in order to make the most of their limited budgets as the economy slowly recovers.

• Forward-Thinking, Cost-Conscious Strategies Bolster Slashed Budgets

  By Bonnie Cavanaugh  |  June 4, 2012

  While the economy overall may be slowly recovering, public-sector budgets won’t see much relief until a year or more after the U.S. economy finally stabilizes.

• Work-Zone Safety, Workers’ Comp Programs Help Governments Stay Within Budget

  By Bonnie Cavanaugh  |  June 4, 2012

  The City of Columbia, Mo.’s money-saving efforts include increasingly concentrated attempts to keep Workers’ Compensation costs down, says Sarah Perry, the city’s risk manager for more than 15 years and a member of NU’s Risk Managers Advisory Board.