National Underwriter Property & Casualty-August 20, 2012

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  • Rates Up in Q2, But How Strong Is Pricing Momentum?

    Mark E. Ruquet

    A survey of P&C insurance brokers provides further evidence that rates are continuing to trend upward, but experts still doubt whether a hard market is on the wayand some question the current environments momentum.

  • Torus’ Jeff Grange: Libor Scandal’s Impact on D&O Market

    Mark E. Ruquet

    In the wake of Barclays Bank admitting to manipulating Libor (the London Interbank Offered Rate, used by banks to set the interest rate they charge when borrowing from one another), other financial institutions are now on notice over their involvement. Some banks artificially inflated or deflated their rates, depending on...

  • Study: Drought Could Yield $2.8B in Losses for 12 Crop-Producing States

    Phil Gusman

    Due to prolonged drought conditions in the Midwest, underwriting losses for 12 major corn- and soybean-producing states could be more than $2.8 billion, a recent report warnsand the trade group representing the crop-insurance industry says insurers have already paid out $822 million so far this season.

  • Profitable Partnerships

    Anya Khalamayzer

    Vestas recognizes that safety is not just for employees of the company but extends to contractors, vendors and suppliers that provide services to the company. To adress this, Vestas has partnered with PICS, a third-party vendor, which provides contractor and vendor-management pre-qualification oversight.

  • LexisNexis Insurance Exchange Integrates with Its Commercial Business

    staff Writer

    LexisNexis Risk Solutions is integrating the LexisNexis Insurance Exchange into its commercial-insurance business. The combined organization will develop commercial-insurance solutions, using data, analytics and commercial workflow processes to create more effective and efficient commercial processes.

  • Workers' Comp Risk Management Awards

    Bryant Rousseau

    Meet the winners of the sixth annual Awards for Excellence in Workers Compensation Risk Management: Limbach Facility Services, a mechanical design and construction contractor; Kelly Services, the staffing-solution provider; and Vestas-American Wind Technology, which manufactures and services wind turbines.

  • Return-to-Work Story: From Helmet to Tie

    Bryant Rousseau

    Limbach embraces an aggressive return-to-work environment, with programs managed at its 11 branch offices in consultation with the corporate risk-management department and the companys broker, Wills; it also keeps in mind local laws.

  • No Laggard

    Shawn Moynihan

    Thus far in 2012, 80 percent of all Workers Comp claims at Kelly Services Inc. have been reported within five days of the injury. This time period compares with an average of nine days to reach that 80 percent figure for the entire book of business at Kellys third-party administrator,...

  • Stretching Out

    Bryant Rousseau

    A harsh reality of the construction industry is that it is made up of an aging workforce. To try and counter the impact of this, Limbach Facility Services in 2009 launched a robust internal wellness program that offers a cash incentive for employees who achieve certain wellness goals.

  • Millions Saved Through Deeper Dive on ALAE

    Shawn Moynihan

    While many Workers Compensation programs focus almost exclusively on medical and indemnity costs, Kelly Services Inc. took it a step further in 2003 by discovering a substantial cost included in the allocated loss-adjustment expenses (ALAE) of its third-party administrator (TPA). A deeper dive into its ALAE revealed Kellys medical-bill-review (MBR)...

  • Strategic Impact of ‘Giving a Damn’ About Employee Safety

    Bryant Rousseau

    Experts in Workers Compensation will often say how important it is that a companys senior-management team support safety initiatives. At Limbach Facility Services, theyd be preaching to the choir. Its CEO, Charlie Bacon, is intensely passionate about safety.

  • Safety Zealot

    Bryant Rousseau

    When Charlie Bacon was 21 years old and working on his first construction project in Philadelphia, an accident involving an elevator counterweight killed one of his colleagues.

  • Six Agency Lessons I Learned in the Army

    Kevin McPoyle, CIC

    As a P&C insurance agency co-founder, I often apply lessons I learned while serving in the U.S. Army. Some lessons are general in nature, such as the need for discipline, personal accountability, orientation on team goals, a clearly defined mission and state-of-the-art tools. Others are more specific.

  • Conflicting Signals: Making Sense of the Latest Workers’ Comp Data

    Stephen J. Klingel

    The 2012 edition of the National Council on Compensation Insurances (NCCI) annual State of the Line report, evaluating Workers Compensation fundamentals and conditions, reveals a market characterized by a number of countervailing indicators as to its forward trajectory.

  • Mind Over Meds

    Anya Khalamayzer

    The overuse of opioid therapy in the U.S. to treat chronic pain is reaching an epidemic level, according to the American College of Occupational and Environmental Medicine.

  • Workers’ Comp State Legislation Battles to Watch

    Brian Allen

    The lazy, hazy days of summer are about to give way to a frenetic presidential campaign season for the most powerful political position in the world. Lost in all the hype surrounding this national political drama are hundreds of barely watched and little noticed campaigns for legislative seats in statehouses...

  • AIG: Gearing Up for Regulation

    Arthur D. Postal

    American International Group (AIG) officials are looking favorably at federal oversight, as they say they are preparing for regulation by the Federal Reserve Board in addition to state monitoring.

  • Fortune 500 Case Study: Marriott

    Anya Khalamayzer

    One Fortune 500 company is already exploring how alternative pain-management options can help control Workers Comp costs.

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