National Underwriter Property & Casualty-February 20, 2012

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  • Utah Leaps Ahead With 69 New Captives in 2011


    Organizations from a number of states representing various industries formed 69 captive insurance companies in Utah in 2011. Of the states new formations, all were pure captives with one sponsored captive. Most were micro-captives formed for a variety of coverages including Supply Chain, Cyber Liability, Legal Defense and Large Deductible....

  • January Weather Losses Reach Half-Billion-Dollar Mark

    Mark E. Ruquet

    While the month of January delivered no single major catastrophe loss, there were enough weather events to cause close to a half-billion dollars in losses worldwide, according to a report released by Aon Benfield.

  • An Embarrassment of Riches: Museums Tackle Maddening Crowds

    James Murdock

    In an effort to maintain or boost their attendance, museums are trying new strategies that range from pushing the envelope with exhibition content to generating revenue by utilizing their real estate in creative ways. These gambits are keeping insurance carriers on their toes, placing even greater importance on loss-control programs...

  • The Education of High-Net-Worth Producers

    Mark E. Ruquet

    Covering the risks for high-net-worth (HNW) clients requires an agent to be well-educated in what these customers need, says Lee Roth, president of the private-client group division of North America for Chartis. A limited number of agents specialize in dealing with these individuals, whose personal-insurance needs go beyond just...

  • Bank Insurance Brokerage Fees Reach Record High

    Mark E. Ruquet

    Insurance-brokerage fees for bank-holding companies were up more than 14 percent over the first three quarters of 2011, but the two major bank-owned P&C brokers saw their fees drop over the period.

  • What’s Your Line?

    Bryant Rousseau

    We like to think at NU that our coverage of individual insurance lines has long been one of our greatest strengths.

  • Globalization Equals Opportunity for World-Minded Producers

    Mark E. Ruquet

    Whether its a company seeking to cut manufacturing costs for goods sold in the United States or an overseas company expanding here, agents and brokers need to be prepared to help their clients make the proper choices. Here are a few brokers who have managed to develop a viable structure...

  • In Global Real Estate Market, Navigating Two Sets of Risk Is All in a Day’s Work

    Caroline McDonald

    JONES LANG LASALLE is a global real estate services firm that helps commercial-property owners buy, sell, lease and manage buildings in 70 countries around the globe. It also advises major corporations on their real estate and workplace strategies, with clients in a range of industries, including pharmaceutical, automotive and technology.

  • Reagan: Organic Growth, Profitability Increased for Privately Held Brokers in 2011

    staff Writer

    In spite of continuing soft-market conditions, both median organic growth and earnings before interest, taxes, depreciation and amortization (EBITDA) for privately held insurance agents and brokers were up slightly from 2010. Median organic growth totaled 3.7 percent, and median EBITDA profitability was up slightly at 18.2 percent, according to Reagan...

  • Is Your Internal Risk Reporting Giving You the Full Picture?

    Paul Delbridge, Joseph Calandro

    Another year of costly natural catastrophesincluding the worst U.S. tornado season in 50 years, massive insured losses arising from the floods in Thailand, the Japan earthquake and consequent tsunami, and further seismic activity in New Zealandis causing many insurance-industry stakeholders to wonder just how many more unexpected levels of loss...

  • Recession Walloped Even the Wealthy

    Mark E. Ruquet

    The near-depression-level economic depths that were reached following the financial meltdown of 2008 were so severe that even the super-rich were badly hurt.

  • XL Group Posts $515.5M Q4 Loss

    Chad Hemenway

    XL Group says it took a 2011 fourth-quarter net loss of $515.5 million on a large impairment charge and catastrophe losses.

  • Louisiana Citizens, Attorneys Spar Over Class-Action Judgment

    Chad Hemenway

    Negotiations between Louisiana Citizens Property Insurance Corp. and plaintiffs attorneys over more than $100 million are off to a rocky start following a U.S. Supreme Court decision to not delay the execution of the class-action judgment against the last-resort insurer.

  • ‘Dragon Tattoo’ Tops Among Risky Films

    Chad Hemenway

    International filming locations, motorcycle riding by its Oscar-nominated actress and highly physical scenes made The Girl with the Dragon Tattoo the riskiest film for Firemans Fundto insure in 2011.

  • Servicing the Unique Needs of Affluent Clients

    Mark E. Ruquet

    The wealth that high-net-worth (HNW) individuals accumulate allows them to indulge in interests that most people can only dream about. The high-profile purchases, highlighted in celebrity interviews, of pieces of art, car collections grand homes and private aircraft are just a few of the indulgences the public gets a glimpse...

  • Aon: Arab Spring Revolts Spur Political-Risk Concerns

    staff Writer

    While clarity has begun to emerge in some of the countries affected by the Arab Spring, the resulting tension has spurred or intensified protests in dozens of countriesand this remains a concern for businesses operating in those nations, says Aon.

  • The Great Underserved Niche: High-Net-Worth Clients

    Mark E. Ruquet

    As the economy shows signs of improvement in the aftermath of the Great Recession of 2007-2009, insurance executives say high-net-worth clients are beginning to spend againand it remains an underserved market that independent agents should be taking advantage of.

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