National Underwriter Property & Casualty-February 2013

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  • Speed, Agency Knowledge Provide the Edge for Oak Street

    Bryant Rousseau

    Looking to restructure some debt stemming from acquisitions and to fund the buyout of its majority owner, Tex-Cap Concord Insurance Servicesa Dallas-based insurance agency that places commercial, personal and employee-benefits businesstapped Oak Street Funding for a multimillion-dollar loan.

  • Leaving a Legacy

    Bryant Rousseau

    When it comes time for an agency founder to sell, agency aggregators often put the highest dollar figures on the table. But many owners believe its a whole lot better for their legacy to perpetuate the agency with the people who have grown it and have the [client and carrier]...

  • Five Ways Agents, Carriers Can Partner Using Predictive Analytics

    Wade Bontrager

    Imagine being able to take the lead in the battle to retain your best customers by predicting the future; and imagine working with your carriers to price risks more accurately. For carriers and independent agents participating in a future-focused relationship in which they share data and use modern predictive analytics...

  • Domiciling Domestically

    Anya Khalamayzer

    Traditionally dominated by tropical offshore domiciles such as Bermuda and the Cayman Islands, the captives industry in recent years has been shifting its focus to U.S. shoresa trend that is expected to continue and perhaps accelerate in 2013 as more companies recognize some of the distinct advantages of domiciling domestically.

  • Survey: Risk Managers Willing to Accept Minor Rate Increases

    Mark E. Ruquet

    A survey of Fortune 500 risk managers finds that most are willing to accept minor rate increases without making dramatic changes to their programs, according to an online survey released by Hanover Stone Partners LLC, a risk-management consultancy.

  • A&E Update: Continued Losses Lead to Market Hardening

    Shawn Moynihan

    In a Professional Liability market characterized overall by most brokers and insurance executives as full of capacity and relatively stable rate-wise (even if once-high Excess limits are harder to get now than they used to be), recent discussions of this line include talk of hardening in the Architects & Engineers...

  • Building the Deal

    Caterina Pontoriero

    Even the typical acquisition deal for a mid-size insurance agency or brokerage has many moving parts and needs to incorporate a number of financing options to get done.

  • The California Commissioner’s Office on Climate Change

    Bryant Rousseau

    California is one of the three states, along with New York and Washington, that has initiated the joint administration of a survey asking all insurance companies writing more than $300 million in direct written premium to discuss the steps they are taking to address climate change.

  • If Not Now, When?

    Julie Rochman

    As 2013 begins, residents in the Northeast whose homes, businesses and communities were torn asunder by Superstorm Sandy are on the long road to recovery. From the federal government on down to neighborhood organizations, discussions are being had over howor whetherto repair and rebuild.

  • Good RM Exercise: CrossFit’s Montana Captive

    Anya Khalamayzer

    One U.S. company that has successfully utilized onshore captives is fitness-trainer CrossFit, which boasts a network of approximately 3,000 affiliated gyms in the U.S.more than 1,500 of which are involved in the companys voluntary risk-retention group, CrossFit RRG.

  • Looming Liability

    Bryant Rousseau

    One climate-change related threat insurers say is worth watchingand losing some sleep about: Class-action suits against carbon-based energy companies, accusing them of causing global warming and therefore being liable for the resulting damages.

  • In N.J., Rebuilding to Code Carries Big Premium Implications

    Mark E. Ruquet

    The order by New Jerseys governor standardizing the rebuilding codes along the states coast in the wake of Superstorm Sandy will help speed the process of rebuilding, but agents say property owners are just beginning to discover the implications this decision will have on their reconstruction plans.

  • Climate Change & Insurance: Existential Threat—or Extraordinary Opportunity?

    Bryant Rousseau

    Fewif anyindustries would seem to face a greater existential threat from the effects of climate change than insurance. As flood waters rise, as hurricanes and tornadoes grow more intense and as droughts last longer, trillions of dollars of insured assets are at risk. In the ugliest scenario imaginable, even the...

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