National Underwriter Property & Casualty-April 11, 2011

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  • Commercial Rates ‘Out Of The Doldrums’

    Chad Hemenway

    Following months of rates stuck firmly in a soft market mud, MarketScout reports the overall composite rate for U.S. property and casualty commercial insurance policies measured minus-4 percent in March after four consecutive months of minus-5 percent.

  • Pacific RIMS: Vancouver Sights A Worthwhile Show Supplement

    Caroline McDonald

    While in Vancouver for the annual conference of the Risk and Insurance Management Society, it might be worthwhile to take some time out to explore the area known for its clear air, sparkling ocean and nearby Vancouver Island.

  • Will GAO Report Remedy Ongoing Risk Retention Group Issues?

    Caroline McDonald

    There is a lot of anticipation surrounding the Government Accountability Office’s investigation of some states’ interpretation of the federal Liability Risk Retention Act. For months the GAO has been questioning risk retention group owners and managers, seeking comments on the treatment received from various states.

  • Senate Passes 1099 Repeal; Bill Goes To President

    Arthur D. Postal

    Led by Sen. Mike Johanns (R-Neb), the Senate passed legislation repealing the much-criticized 1099 reporting provision in the healthcare-reform law and sent the bill to President Obama for his signature.

  • NFIP Extension Bill Advances In House

    Arthur D. Postal

    A subcommittee of the House Financial Services Committee has passed legislation that would keep the National Flood Insurance Program in operation until Sept. 2016.

  • Mind The Gap: Cyber Breaches Are Expensive, Exposures Wide

    Tim Hogan

    Considering that 73 percent of small and midsize companies have experienced a cyber attack—and that the costs of dealing with such a breach are substantial—corporate risk managers need to give serious thought to acquiring cyber-liability coverage.

  • A Question of Ethics: Agent’s Dilemma When Client Understates Payroll

    Peter R. Kensicki

    Readers weigh in on a dilemma proposed by our “Question of Ethics” columnist, Peter R. Kensicki, regarding an agent’s obligation to report payroll misstatements that were discovered while preparing a proposal for a potential client. In Part 1 of a two-part presentation of responses, readers discuss agent duties to the...

  • Jury Clears Toyota Of Unintended Acceleration Claim

    Chad Hemenway

    A jury in New York found that Toyota is not responsible for a 2005 crash in the first trial related to the car manufacturer’s recall of eight million vehicles due to unintended acceleration.

  • Analysts Say Markets Primed For Increases

    Mark E. Ruquet

    Some analysts say a combination of factors is conspiring to make rate increases for both commercial and personal lines inevitable, possibly by the beginning of next year.

  • Clark Urges ‘Call To Action’ By RIMS Members On Japan

    Caroline McDonald

    RIMS President Scott B. Clark has personal reasons for calling to action members of the Risk and Insurance Management Society, asking them to reach deep into their pockets to help survivors of Japan’s earthquake and deadly tsunami.

  • In Struggle To Survive Soft Market, Agencies Can’t Overlook E&O Coverage

    Rochelle Elliott

    As agencies focus on survival, they often overlook critical aspects of their own businesses, potentially placing themselves in a vulnerable spot. Agencies need to evaluate their own professional liability insurance coverage to be sure they are properly protected, according to Burns & Wilcox’s Rochelle Elliott.

  • What Employers Need To Know About Workplace Bullying

    Susanne Sclafane

    “Status-blind harassment” is becoming more of a concern to employers and their employment practices liability insurers, but while the consequences of workplace bullying are clear, appropriate steps to recognize and rein in the problem aren’t always obvious.

  • Hard-Market Onset Just Talk, Analyst Says

    Mark E. Ruquet

    With plenty of capital still in the pipelines, no industrywide price increase is expected from Japan’s Tohoku earthquake—and any talk about a hard market is being greeted with skepticism, at least by one financial analyst.

  • Quick Action, Multiple Notices Needed To Assist Insureds With Claims Reports

    Staff Writer

    Even when insurance policies clearly instruct otherwise, insureds often contact their agents instead of the carrier to report a claim. Attorney Matthew Marrone provides tips on how agents should respond to this tricky and delicate situation—to avoid their own E&O situations down the road.

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