Commercial Lines

As mutual insurers increase their dependence on technology to sell and service insurance, companies must demonstrate their value to independent agents while not cutting them out of the client relationship, says the incoming chairman of the National Association of Mutual Insurance Companies.

In his deficit-reduction proposal, President Obama voices support for provisions in House legislation that would eliminate subsidies, over five years, on 30 percent of properties insured by the National Flood Insurance Program.

Mutual insurance executives need to express their passion for the industry by telling their stories and pointing to the mission that the protection of policyholders is the backbone of insurers business, says the outgoing chairman of the National Association of Mutual Insurance Companies.

A magnitude 6.9 earthquake struck in the region of Sikkim, India yesterday, causing moderate to heavy damage to vulnerable structures, as well as at least 38 fatalities and over 100 injuries, according to catastrophe modeler Risk Management Solutions.

Maria made landfall on Newfoundlands Avalon Peninsula as a minimal Category 1 hurricane late last week and quickly became an extratropical storm, according to AIR Worldwide.

To say the past few years have been a challenge for mutual insurers would be an understatement with as theyve dealt with an almost decade long soft market, a prolong economic downturn and record catastrophe numbers this year.