PropertyCasualty360: Property & Casualty Insurance News & Tips

Profiles in Prescience: Top Insurance Consultants

William Atkinson

Deloitte, Ernst & Young, PricewaterhouseCoopers and Towers Watson reveal whats on the minds of clients in 2012 and the actions theyre taking in serving those clients needs.
‘I’ll Have Another’ Has Nothing on Agency Leaders

Maureen Boeing, CIC, CISR

Little-known thoroughbred Ill Have Anothersold for a mere $11,000 and entering the race as a 15-to-1 long shotbusted out of a large pack of competitors and flew to victory in the 2012 Kentucky Derby. Two weeks later, the horse blazed to a win at the 137th Preakness, taking the second...
Agents: Do You Really Need a Website?

Rick Gilman, APR, CMP

What? Not every agency needs a website? Thats right. Ive come to believe that there might be viable alternatives.
Legal Liability: Stacy A. Carpenter on How Agents Can Stay a Step Ahead

Chad Hemenway

Civil-trial attorney Stacy A. Carpenter, shareholder at Polsinelli Shugharts Denver office, provides some advice for insurance agencieswhich she says are facing an increasing number of lawsuits as they get dragged into policyholder coverage disputes with insurance carriers.
Chartis Angles for Larger Slice of Hospitality & Leisure Niche

Chad Hemenway

Less than a month into Lance J. Ewings job as a risk manager for Harrahs Entertainment, Hurricane Katrina caused about $1.6 billion in damage to the companys Gulf Coast casinos.
How Agencies Can Best Measure Client Satisfaction

Philip Lieberman

Today, facilitated by the Internet, nearly every business asks for feedback, with one dramatic exception: the insurance agency.
Telematics Technology Ahead of Carrier Utilization—For Now

Robert Regis Hyle

I was discussing telematics and other forms of big data with Peter Marotta, enterprise data administrator for Verisk Analytics, at the Insurance Accounting & Systems Associations (IASA) annual conference June 3-6 in San Diego, when he pointed out an unusual position that the insurance industry is in today.
Red Flags: Digging Deeper in Claims Investigation

Christopher Tidball

Auto give-ups, stolen vehicles, arson, padded injuries, inflated medical bills and disability exaggerations are just a few of the scams that play out in the insurance arena daily.
May Commercial Pricing Up 4%; Increases Expected for Jumbo Accounts

Chad Hemenway

MarketScout says the composite rate for commercial insurance placed in the U.S. in May was up 4 percent compared to the same month a year ago.
Reports Question Industry’s Reserve Strength, Recent Accident-Year Releases

Mark E. Ruquet

Analysts agree that a drop in P&C reserve releases is inevitable as years of soft-market pricing catch up with loss realitiesand one report questions 2011 releases from recent accident years for longer-tail commercial lines.
Philadelphia Insurance Touts Alternative Flood Coverage to NFIP

Chad Hemenway

Philadelphia Insurance Cos. believes it can provide better prices than the National Flood Insurance Program (NFIP) for some flood-related property risks.
A Closer Look at Lobbying Expenditures Among P&C Insurers in 2011

Arthur D. Postal

Large lobbying expenditures by P&C insurance companies in 2011 predictably focused on catastrophe issues and on pursuing legal reform, according to data released by SNL Financial.
Shared Concern: Keeping Up With Regulatory Action

William Atkinson

A concern shared by the major insurance-consulting firms clients is the impact recent and ongoing regulatory actions will have on the industry, including the move toward a more international accounting standard; the work that is continuing as a result of Dodd-Frank; and other changes that may be introduced by the...
ALIRT Report: P&C Surplus Slowing Market Turn

Chad Hemenway

Despite all the catastrophes of 2011, the year as a whole was income-statement-drivenan earnings eventrather than a capital-and-surplus event.
Market Hardening? Top Industry Leaders Comment on Pricing

Phil Gusman

Opinions still vary as to whether pricing increases are uniform across all lines and whether these increases are enough to declare that a hard market has arrived. But more executives and industry observers appear willing to lean in that direction now compared to comments made after Q4 2011 results were...
Weisbart: Hard Market Close, But Underwriting Losses a Challenge

Caterina Pontoriero

The insurance industry is expected to see its strongest growth since 2004, according to one industry economistbut he adds that the good news is moderated by consistent large underwriting losses.
Independent ‘Systemic Risk Council’ Forged to Encourage Regulatory Reform

Arthur D. Postal

Former regulators and legislators have created a new committee aimed at putting pressure on Washington officials to continue focusing on statutes aimed at reducing systemic risk in financial markets.
Standard Carriers to High-Risk Property: ‘We Have to Talk’

Chad Hemenway

Standard carriers that looked where they normally wouldnt for premium during the soft market are throwing the risk back into the ring for excess carriers.
Industry ‘Headed for Bankruptcy’ When a Hurricane Hits New York City

Chad Hemenway

New York City could soon be home to the worlds longest aquariumhoused in its subway system.

National Underwriter Property & Casualty-June 18, 2012

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