National Underwriter Property & Casualty-August 8, 2011

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  • NFIP Could See Another Short-Term Extension

    Arthur D. Postal

    After two flood-insurance legislation efforts failed in the Senate, an industry official says a short-term extension will be about all the industry will get before the current National Flood Insurance Program authorization expires Sept. 30.

  • Moody’s: Concerns Delay Accounting-Standards Proposals

    Phil Gusman

    Proposed changes to insurance-contract accounting standards are running into delays amid vocal opposition, but whatever final conclusions ultimately emerge, they are unlikely to have a broad impact on credit ratings since new rules, by themselves, do not alter the economic position of an entity, according to Moody’s.

  • Vacant-Buildings Issue Hits Home

    Caroline McDonald

    As both the price of copper and unemployment rates rise, the increase in thefts of this and other metals looms large for insurers and risk managers as vacant buildings and construction sites are being stripped of wiring, pipes and other copper-containing elements.

  • Captive Country: Regional Report

    Caroline McDonald

    Gary Osborne, president of the USA Risk Group, says his company is seeing interest in Tennessee from companies based there thanks to a provision in the state’s new captives law that could make a big difference for some companies.

  • Brokerages Report 2Q Income Growth

    Mark E. Ruquet

    While carriers’ second-quarter results largely declined due to catastrophe losses, three brokerages recently reported growth during the quarter, led by Aon Corp.’s 69 percent increase in net income.

  • ERM Rodeo: Roping Risk With Effective Controls

    Denise Tessier

    In the enterprise-risk management (ERM) arena, risk-management professionals must perform mazing feats, rounding up and lassoing a herd of risks that are potentially dangerous, unpredictable and hard to manage. They do this using a system of effective internal controls.

  • Bermuda Players See Big Potential Upside Of Massive Cat Losses

    Susanne Sclafane

    Catastrophe-loss hits—and the added potential price-moving impetus of a catastrophe model change—were front and center as management teams for half of the players in the Bermuda market disclosed first-half losses and strategies for preserving capital to take advantage of a Jan. 1 pricing upturn.

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