National Underwriter Property & Casualty-April 4, 2011

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  • What If It Happened Here?


    The massive 9.0 earthquake in Japan prompted us to ask a sobering question: What kind of damage would be inflicted if a quake of the largest anticipated magnitude struck one of the five major fault lines in the Continental U.S.? The three major cat modelers—EQECAT, RMS and AIR Worldwide—provide their...

  • NAIC Wants More Info Before Supporting Agents On MLR

    Arthur D. Postal

    State insurance regulators delayed for at least four weeks action on a resolution that would support insurance agents’ demands for an exemption from the healthcare reform law’s medical loss ratio (MLR) provision.

  • MLR Clarification, NARAB II Top Agenda At Capitol Hill Confab

    Mark E. Ruquet

    A new venue, a new Speaker of the House and some new, pressing concerns will greet agents and brokers at this year’s Independent Insurance Agents & Brokers of America Legislative Conference and Convention in Washington, D.C.

  • While All Eyes Are On FIO, Fed Regulation Could Come From FSOC

    Arthur D. Postal

    Disclosure that the Federal Reserve Board has subjected MetLife to a “stress test” should put to rest any thoughts that the insurance industry has repulsed intervention by federal regulators into their business, a concern that was raised by the near-failure of American International Group.

  • Unlike Many Countries, U.S. Doesn’t Allow Cat Reserves For Future Events

    Chad Hemenway

    In their assessments of the likely losses the Tohoku earthquake caused to Japanese non-life insurers, prognosticators revealed the companies had accumulated significant residential catastrophe reserves—something that could not be said of insurers in the United States should a similar event happen here.

  • Chartis Names New CEO After Management Shakeup

    Chad Hemenway

    Chartis, the property and casualty unit of American International Group Inc. (AIG), says it has reorganized the structure of its management team, with Peter D. Hancock replacing Kristian P. Moor as CEO.

  • Predictive Analytics: A Powerful Weapon In Fight Against Fraud

    Michael A. Costonis

    Predictive analytics can be a powerful weapon in the battle against fraud. By modeling past incidences of fraud, and pairing those results with social-network analysis, predictive analytics can help insurers understand what it is about a claim, claimant or insured party that correlates with a higher propensity for fraudulent behavior.

  • Non-U.S. Reinsurers Can Post Reduced Collateral In N.J.

    Chad Hemenway

    Foreign reinsurers may be permitted to post less collateral when doing business in New Jersey with legislation signed by Gov. Chris Christie that gives regulators the ability to cut previous full-collateral requirements.

  • Swiss Re: 2010 A Costly Catastrophe Year

    Mark E. Ruquet

    Last year was a costly one in terms of dollars and human life as insurers saw catastrophe losses increase by 59 percent from the previous year, according to a Swiss Re report.

  • Will Insurers Dodge Climate Nuisance Liability Bullet?

    William F. Stewart

    A climate nuisance liability case to be heard by the Supreme Court may be the environmental case of the decade, according to William F. Stewart, a coverage attorney, who details the implications of Conn. vs. AEP.

  • Cats Drive 42% Drop In Lloyd’s 2010 Profits

    Caroline McDonald

    Lloyd’s says its 2010 before-tax profits dropped nearly 42 percent to £2.19 billion ($3.44 billion at current exchange rate) compared to £3.87 billion ($5.9 billion) in 2009.

  • Fed Rejects AIG Offer To Buy Back Securities

    Arthur D. Postal

    The Federal Reserve Board says it has rejected American International Group’s offer to buy back a package of securities it had sold the Fed when it needed cash in November 2008.

  • Fraud-Fighting Over The Next 5 Years: The Future Of Claims Investigations

    Thomas Mulvey

    Over the next five years, we should expect dramatic changes in insurance underwriting, claims handling and fraud detection. What are the key trends, and what will be their impact on the claims-handling and fraud-fighting workflow between now and 2016? Here are some predictions.

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