PropertyCasualty360: Property & Casualty Insurance News & Tips

Commentary

Exploring the insurance agent needs of the millennial entrepreneur

Barry Seigerman| June 21, 2018

The insurance agent’s role is far more consultative in native than one might think.
Research

Cyber insurance premiums to outpace all others, Aon says

Jayleen R. Heft | June 21, 2018

Over the past five years, cyber premiums saw the most significant growth at 23% annually.
News

No 3rd-party indemnification for workers’ comp payments

Steven A. Meyerowitz, Esq., Director, FC&S Legal| June 21, 2018

Hawaii Supreme Court issues ruling in workers' compensation case of first impression.
News

AIA, PCI set to actively explore merger

Shawn Moynihan | June 20, 2018

Joint statement from both organizations announces their intent to do due diligence in investigating a union.
News

Hurricane-proof homes are real. Why isn't anyone buying them?

Christopher Flavelle| June 20, 2018

Architects & engineers are designing homes that can deflect hurricane winds, rise with flood waters & survive wildfires.
News

Around the P&C insurance industry: June 20, 2018

Denny Jacob | June 20, 2018

News from Chubb, The Guarantors, Alera Group and more.
Analysis

Legal lessons following a busy CAT season

Jason Wolf| June 20, 2018

Lawsuits related to multiple hurricanes question some claims practices.
Taxpayers in the Hamptons among the most exposed to rising seas

Danielle Moran| June 20, 2018

The states of Florida and New Jersey have the most to lose from rising sea levels, new data finds.
Analysis

Insurance questions grow alongside mold, fungi and algae

FC & S Editors | June 20, 2018

Coverage Q&A: Whether or not a loss is covered may rest on the appearance of routine wear and tear.
Best Practices

Prevent clients from being their own worst vacation enemies

Annmarie Camp| June 20, 2018

Vacation Risks Revisited: As your clients prepare for the summer travel season, here’s what you need to know in order to protect them.

Commentary

Should P&C insurers change investment mix after new tax law?

Scott Daniels, CFA, CPA| June 20, 2018

The changes in federal tax laws will likely improve the bottom line for most P&C insurers.
Conversation

Talking storm preparedness for residential property owners

John Jordan| June 20, 2018

The importance of hurricane trainings for property managers, reading insurance policies and having discussions with agents.
Slideshow

10 best family cars of 2018

Danielle Ling | June 20, 2018

Parents magazine and Edmunds picked the best family vehicles of 2018 based on safety, performance, value, comfort and family friendliness.
News

Ivory Coast plans emergency measures after floods kill 10 people

Katarina Hoije| June 19, 2018

Heavy rains made roads impassable in Ivory Coast’s economic capital Abidjan on Tuesday.
Research

Most under-35s OK with insurers digital spying if it cuts prices

Julie Edde| June 19, 2018

A recent survey found 56% of respondents said they would switch their insurance provider if digital service is poor.
Best Practices

How to 'crawl, walk, run' to improve the customer experience with chatbots

Shekhar Mahadevan, Jeff Scheerhorn| June 19, 2018

Industry professionals at EY break down the 'crawl, walk, run' approach to implementing chatbots.
Analysis

Managing the risk of supply chain fraud

Mark Pearson & Larry Kivett| June 19, 2018

6 steps companies can consider to shore up supply chains against the rising tide of global protectionism and other disruptors.
Market Insights

5 trends influencing P&C insurance purchases

Tom Super & Colleen Cairns| June 19, 2018

Insurers must understand how consumers shop and what attracts them to a brand.
Market Insights

Top causes of high-dollar workers' comp claims

Mark Walls and Stephen Peacock| June 19, 2018

Safety National recently completed a review of its largest workers' comp claims and uncovered certain trends employers should be aware of.
Slideshow

8 essential types of insurance for the 2018 FIFA World Cup

Elana Ashanti Jefferson | June 19, 2018

Beazley outlines the risks and likely insured values for this event watched by more than half of the world's population.

Market Insights

Developments in engineering insurance: Swiss Re Sigma report

Jayleen R. Heft | June 19, 2018

New technologies in construction will fundamentally affect the risk landscape for engineering insurance.
News

Who’s using what in P&C insurance: June 18, 2018

PC360 Staff| June 18, 2018

Property & casualty insurance industry tech and partnership news from Johnson & Johnson Insurance, Tower Insurance, CAA and more.
News

South African insurer refused to pay ransom after computer hack

Amogelang Mbatha| June 18, 2018

Liberty Holdings couldn’t comment on the identity of outside parties that gained access to the IT infrastructure.
Case Study

Fraud of the month: Skydiving trip leads to attempted-murder

Dennis Jay| June 18, 2018

An army sergeant created an ‘accident’ to turn his wife into his ‘ex’.
News

Doctor & interpreter charged with defrauding workers' comp insurers

Steven A. Meyerowitz| June 18, 2018

The California pair allegedly billed insurers for translation services that were illegal or non-existent.
Commentary

Understanding cyber risk from the enterprise level on down

Laurie Champion| June 18, 2018

Here’s how you and your clients can become more 'cyber' smart.
Market Insights

Last call! NU's Excellence in Workers' Comp Award open for submissions

Shawn Moynihan | June 18, 2018

Have you nominated your workers' comp program for the NU Excellence in Workers' Compensation Risk Management Awards? Entries close June 25, 2018.
Best Practices

Keep children safe from these 5 common dangers this summer

Denny Jacob | June 18, 2018

There are plenty of risks which can put children in harm's way — much of them often preventable but deadly when left unchecked.
Research

11 highest-ranked auto insurance brands for customer service, by region

Jayleen R. Heft | June 18, 2018

Auto insurance customer satisfaction reaches record high, J.D. Power finds.
News

New York, Boston face coastal flooding due to above-normal tides

Brian K. Sullivan| June 15, 2018

Tides may be pulled a foot above normal in many places, sending the Atlantic onto roads and into vulnerable basements.

Profile

Meet Gamma Iota Sigma: The next generation of insurance professionals

Danielle Ling | June 15, 2018

Insurance fraternity Gamma Iota Sigma will host their 47th annual international conference in Chicago October 4-6.
Commentary

Guns, schools and claims: Part 1

Ken Brownlee, CPCU| June 15, 2018

Arming teachers may cause more problems than it solves.
News

People on the move in the P&C insurance industry: June 15, 2018

Denny Jacob | June 15, 2018

News from Alera Group, FIRST Insurance Funding, Allianz Global Corporate & Specialty and more.
Commentary

Insurers’ good fortune may need more than a capital idea

Benjamin T. Bubeck, CFA| June 15, 2018

Have insurers been 'lucky' or have they worked hard to secure their good fortune? It could be a bit of both.
News

Connecticut court’s concrete ruling could impact thousands

Steven A. Meyerowitz, Esq.| June 15, 2018

Homeowners with potential concrete repair claims, take note.
Market Insights

All builder's risk insurance policies are not created equal

Joshua Lorenz and Craig Ream| June 15, 2018

Most construction contracts require project leaders to obtain builder’s risk insurance.
Ranking

20 biggest insurance companies in the world, according to Forbes

Jayleen R. Heft | June 15, 2018

Mega deals and IPOs are shaking up the global insurance industry in 2018.
Analysis

Driverless cars may cut traffic jams, not insurance premiums

William Mathis| June 14, 2018

As driverless vehicles reduce car ownership, insurers may not face the Armageddon that had been predicted, new research shows.
Analysis

P&C personal lines results worsen despite auto improvement: Fitch

Jayleen R. Heft | June 14, 2018

Underwriting losses in the U.S. P&C personal lines segment moved higher for the fourth straight year in 2017.
Small businesses represent big insurance opportunity [infographic]

Shawn Moynihan | June 14, 2018

By the Numbers: Check out these highlights from the 2018 Small Business Risk Report, produced by The Hanover Insurance Group and Forbes Insights.

Best Practices

The 10 commandments of prospecting for insurance agents

Bryce Sanders| June 14, 2018

Properly done, prospecting brings assets, revenue and even referrals.
Commentary

Technology paves the way for the future of the agency channel

Sam Fleming| June 14, 2018

Agents who give personalized advice and advocacy when needed represent the great upside to the rise of InsurTech, and the future of the agency channel.
News

25 least expensive car models to insure

Denny Jacob | June 14, 2018

An analysis by 24/7 Wall St. found many of the cars that are the least expensive to insure are small to midsize SUVs.
Analysis

Volcanic activity & insurance considerations for businesses

David E. Weiss, Michael H. Sampson, Douglas R. Widin and Max J. Louik| June 14, 2018

Many businesses — from hotels to golf courses to airlines — already have suffered or are at risk of suffering losses.
Analysis

Risky rides: Unique exposures for amusement parks

Karen Sorrell | June 14, 2018

A leading contributor to park injuries and fatalities is improper operation of a ride.
News

FEMA is exploring expansion of its reinsurance program

Christopher Flavelle| June 13, 2018

The federal government is seeking to protect itself from the growing cost of natural disasters by buying reinsurance.
News

Around the P&C insurance industry: June 13, 2018

Denny Jacob | June 13, 2018

News from The Navigators Group Inc., Coalition Against Insurance Fraud, Tokio Marine HCC and more.
Analysis

The future of cyber threats: When attacks cause physical harm

Patricia Kane| June 13, 2018

It's likely that attacks that aim to physically interfere with software or security systems will only increase in the future.
News

N.J. bill mandating liability insurance coverage gains traction

Michael Booth| June 13, 2018

Employers and owners of multiple-dwelling properties would need to maintain policies of at least $500,000.
Wisconsin insurance commissioner orders agent to repay over $1 million

Steven A. Meyerowitz| June 13, 2018

The agent's insurance license has also been permanently revoked.

Analysis

When water destroys with a trickle instead of a flood

FC & S Editors | June 13, 2018

Coverage Q&A: It’s essential to know whether your homeowners’ policy includes an exclusion for leaks lasting more than a few days.
Slideshow

Top 10 home security myths

Danielle Ling | June 13, 2018

Here are the top 10 myths about home security, according to Dyno Locks.
Event

The insurance industry must embrace women & technology like never before

Denny Jacob | June 12, 2018

Sponsorship programs, pay studies and gender dialogues are ways companies can look to promote women within a company.
News

New report details Q1 commercial insurance price changes

Danielle Ling | June 12, 2018

The CLIPS survey revealed modest but larger increases in commercial insurance prices in Q1 of 2018.
News

Allianz's pursuit of insurance targets keeps market guessing

Dinesh Nair, Julie Edde, Aaron Kirchfeld and Ruth David| June 12, 2018

Europe’s largest insurer, Allianz SE, is in the early stages of evaluating a variety of potential acquisition targets.
Commentary

Insurers embracing disruption to reinvent themselves

Sam J. Friedman| June 12, 2018

Incumbent insurers are making great strides to keep up with the InsurTech and data analytics craze.
Analysis

Investigating fraudulent claims: Keep detailed records to recover costs

Steven A. Meyerowitz| June 12, 2018

A court suggests if insurers want to recover costs of investigating fraudulent claims, they need to maintain time logs.
Slideshow

6 safety steps for contractors to follow this hurricane season

Danielle Ling | June 12, 2018

Experts at Travelers offer critical safety precautions for construction workers ahead of the 2018 hurricane season.
Best Practices

3 steps to managing your potential infectious disease exposures

Christian Ryan| June 12, 2018

Here are 3 ways global businesses can manage their potential exposure to Ebola, Nipah and other public health threats.
News

Who’s using what in P&C insurance: June 11, 2018

PC360 Staff| June 11, 2018

Property and casualty insurance industry tech news from Amica, Zurich Insurance Group, LexisNexis Risk Solutions, and more.

News

Hurricane Bud prompts storm watches on Mexico's Pacific shore

Brian K. Sullivan| June 11, 2018

Bud is currently a category 3 hurricane with top winds of 115 miles.
News

PG&E sees 'significant liability' in California wildfires

Mark Chediak, Pamela Maclean and Jim Efstathiou Jr.| June 11, 2018

Cal Fire said Friday that PG&E equipment caused at least 12 of the wine country blazes.
News

Technology can keep employees safe, but businesses still lag in adoption

Denny Jacob | June 11, 2018

Millennial business owners are leading the charge as 71% of them are using connected technologies for safety efforts.
Q&A

How insurance advisors can beat their fear of sales

Katie Rass| June 11, 2018

Consultant Alex Goldfayn talks about how positive psychology can help advisors boost sales 10%-20% annually.
Commentary

Reinsurers must anticipate new risks in the digital age

Pascal Millaire| June 11, 2018

It's been a challenging few years for the reinsurance industry. But as they say, sometimes it's darkest before the dawn.
Profile

Executive profile: PIA National CEO Mike Becker

Shawn Moynihan | June 11, 2018

Empowering independent agents is this baseball-loving insurance leader’s signature swing.
Slideshow

What you missed at IICF's Women in Insurance conference

Danielle Ling | June 08, 2018

The first of IICF's 2018 Women in Insurance Conferences took place yesterday, concluding with a powerful speech from Jenna Bush Hager.
News

People on the move in the P&C insurance industry: June 8, 2018

Denny Jacob | June 08, 2018

News from GC Securities, Capital Markets, Assured Risk Cover, Swiss Re Canada & English Caribbean and more.
News

New Colorado law sets 30-day requirement for data breach notification

Gabrielle Orum Hernández| June 08, 2018

The 30-day notification window does not provide for any specific exemptions and is the shortest of any state.
Analysis

Cloud takes a starring role in the new insurance core systems paradigm

Karen Furtado| June 08, 2018

The insurance industry is poised to utilize cloud in a whole new way.

Career Moves

Calling all interns: Gallagher's internship program may be for you

Denny Jacob | June 08, 2018

“These folks end up being incredibly important players in our company,” says President and CEO J. Patrick Gallagher Jr.
Commentary

Hey InsurTechs: Here's why you will likely fail

Karlyn Carnahan| June 08, 2018

Despite the massive amount of money being poured into InsurTechs, there are some clear signs of potential failure.
News

Buffett's wrong on cyber insurance risk, Chubb's Greenberg says

Brian Louis| June 07, 2018

Greenberg said cyber risk is insurable and that 'Chubb is a large writer' of the coverage.
News

Tesla Model X in California crash sped up prior to impact

Alan Levin and Ryan Beene| June 07, 2018

A NTSB preliminary report raises new questions about the capabilities of Tesla’s semi-autonomous driving system.
News

Will Amazon truly shake up the homeowners' insurance market?

Katherine Chiglinsky and Brian Louis| June 07, 2018

Amazon has explored ways to offer insurance as part of a push into other consumer offerings including robots to use in the home.
Commentary

Property claims, customer satisfaction, and good business

Kevin Reilley| June 07, 2018

Here's why insurers must engage modern technology to empower customers.
Research

Personalization is critical to a successful customer experience, KPMG finds

Jayleen R. Heft | June 07, 2018

Seven insurers are among the top 100 companies consumers ranked highest on customer experience delivery in 2018.
News

ISO commercial flood insurance coverage form now available

Rosalie Donlon | June 07, 2018

ISO's Commercial Flood Insurance Policy is similar to a commercial property policy but it has differences that insurance agents and brokers need to know.
News

Motel targeted in sex trafficking lawsuit loses insurance coverage

Max Mitchell| June 07, 2018

An insurance carrier has no obligation to defend against a lawsuit aimed at holding a motel liable for sex trafficking that occurred on its premises.
Market Insights

Aviation insurance underwriters are in for a bumpy ride

Bill Coffin| June 07, 2018

Excess capacity and new exposures are forcing underwriters to rethink how they write aviation risk.

Research

U.S. motorcycle thefts decreased in 2017

Jayleen R. Heft | June 07, 2018

A total of 44,268 motorcycles were reported stolen in 2017 compared with 46,467 reported stolen in 2016 — a decrease of 5%.
Research

New York, Boston set coastal flood records as storms fuel tides

Brian K. Sullivan| June 06, 2018

Coastal floods are growing more frequent because oceans are rising and causing billions in damages to property.
Market Insights

What seniors need to know about reverse mortgages

Danielle Ling | June 06, 2018

Reverse mortgages can be a great financial lifeline, but they aren't a simple process. Here's what you need to know.
Liability in the age of autonomous vehicles

Robert F. Tyson and Greta M. Schultz| June 06, 2018

Some auto risks will not change, but others will shift from drivers to manufacturers.
Analysis

Pollution liability coverage, exclusions can be tricky

FC & S Editors | June 06, 2018

Coverage Q&A: As always, it is up to the insurer to prove that the pollution exclusion applies to a particular claim.
News

Around the P&C insurance industry: June 6, 2018

Denny Jacob | June 06, 2018

News from PacWest Alliance Insurance Services Inc., Worldwide Facilities LLC, NI Holdings Inc. and more.
News

European Commission proposes stronger motor vehicle insurance rules

Steven A. Meyerowitz| June 06, 2018

The proposal to amend the Motor Insurance Directive would make it easier to combat uninsured driving, according to the EC.
News

5 key takeaways from GHSA's report on drug-impaired driving

Denny Jacob | June 06, 2018

Curtailing the issue of drug use and abuse on the streets has dogged law enforcement for years, but U.S. roadways are just as problematic.
News

Hack of DNA website exposes data from 92 million user accounts

Kristen V. Brown| June 05, 2018

With the information exposed in the breach, a hacker could access personal info such as the identity of family members.
News

Education, service frame conversations during IASA 2018

Elana Ashanti Jefferson | June 05, 2018

Dr. Jill Biden challenged insurance professionals to 'make a difference where you are, how you can.'

News

Understand the unique risks that come with employing older workers

Denny Jacob | June 05, 2018

With an aging workforce, there are a number of workplace injury risk factors to consider.
News

U.S. Army officer arrested & charged with defrauding insurance providers

Steven A. Meyerowitz| June 05, 2018

A Lieutenant Colonel received $183,339 from claims he filed related to a purported U-Haul burglary, prosecutors allege.
Commentary

Preventing EPL claims takes planning, commitment

Todd Cincotta| June 05, 2018

Our industry now needs to look closer at sexual harassment policies as well as other contemporary employment issues.
Analysis

Determining coverage for mudslide claims

Jason Hargraves| June 05, 2018

Policyholders need to know the difference between mudslides and mudflows and if coverage applies.
News

First Cannabis Business Owners Policy approved in California

Christine G. Barlow, CPCU| June 05, 2018

What does the 'CannaBOP' policy include, and is it right for your prospect or client?
Best Practices

The 2018 hurricane season is here: Are you prepared?

Danielle Ling | June 04, 2018

Predictions are in for the 2018 hurricane season. Here's what you need to know to protect your property.
News

Swiss Re announces executive leadership changes

Denny Jacob | June 04, 2018

A new president & CEO will take over the helm at Swiss Re Canada & English Caribbean.
News

Who’s using what in P&C insurance: June 4, 2018

PC360 Staff| June 04, 2018

Property & casualty insurance partnership and tech news from Octo Telematics, Sapiens International, SterlingRisk, Applied Systems, EIS Group and more.
Market Insights

WCRI reveals state with highest total costs per workers' comp claim

Denny Jacob | June 04, 2018

Growth in indemnity & medical costs both drove the increase in Louisiana’s average total cost per workers’ compensation claim.
News

California lawmakers are said to consider wildfire relief fund

Mark Chediak and Romy Varghese| June 04, 2018

Proposal to help utilities shoulder billions in potential liability costs while offering relief to wildfire victims.

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