National Underwriter Property & Casualty-May 2013

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  • New Study Finds the Independent-Agency Generation Gap is a Chasm

    Laura Mazzuca Toops

    How to manage the millennial generation in the workplaceis stumping both baby boomers and Gen-Xers. But the generation gap is especially acute in the independent agent-broker (IAB) universe, where 84 percentof employees say there are real generational differences regarding work, and 72 percent agree that these differences pose challenges in...

  • ‘Core’ Specialty: Core Programs' Apartment-and-Condo Niche

    Anya Khalamayzer

    Richard Trezza, president of Morristown, N.J.-based program administrator Core Programs LLC, recalls discovering his own personal niche in the insurance world: I graduated with a business administration degree, decided I dont like corporate America and went into my familys small insurance business, he says. Thats how I learned insurance.

  • Downstream Energy Market Gripped by ‘Pessimism’

    Phil Gusman

    An atmosphere of pessimism has taken hold of the downstream energy-insurance market after two poor underwriting years, and while capacity has not been impacted yet, one or two exits by leading insurers could trigger a wider withdrawal, a new report says.

  • Changes to Underwriting, Rather Than Pricing, May Be Sandy’s Legacy

    Phil Gusman

    Superstorm Sandy may have put a dent in the insurance industrys reversal of fortunes after a catastrophe-filled 2011, but commercial-property pricing may not increase as much as one might expect after the second-most damaging named storm to hit the U.S., a new report says.

  • West Fertilizer Plant Explosion to Cause $100M in Insured Property Losses

    Chad Hemenway

    THE MASSIVE Explosion at a West, Texas fertilizer plant has caused at least $100 million in insured losses to property. Mark Hanna, spokesman of the Insurance Council of Texas, tellsPC360 from the small rural town of about 2,800 that damages include concussion-type losses. That is, some homes look normal from...

  • RIMS Rocks Los Angeles: Seen & Heard on the Floor

    propertycasualty360

    The RIMS 2014 Annual Conference and Exhibition, held in Los Angeles on April 21-24 brought together the worlds top risk management professionals. Keynote speaker Simon Sinek, author and leadership expert, addressed the General Session with a speech in which he utilized aspects of human biology to illustrate what motivates people...

  • Perfect Time

    Shawn Moynihan

    A paranoid person is merely someone in possession of all the facts, or so I like to think. I am what you would call a reasonably paranoid person; basically, I like to be prepared. If Im driving somewhere Ive never been, I want handwritten or printed directions and the phone...

  • Shell Shocked: Six Months After Sandy, Agents Look Back

    Mark E. Ruquet

    Flooding. Power outages. Debris removal. Rebuilding. Many insurance agents faced the same issues as their clients in the wake of Superstorm Sandy, but they all shared an additional responsibility: to make themselves available to the victims of the storm, helping them to process the claims that would help them make...

  • Making Hay: Manufacturing Poised for Growth

    Michael P. Voelker

    A Travelers survey reveals that some 75 percent of leading manufacturers have expanded their products or services in the past year or expect to do so by years end.

  • Half Full, or Half Empty?

    Bonnie Cavanaugh, E&S Editor

    In a development that is eliciting some mixed feelings, some $35 billion in capital has recently entered the reinsurance market from hedge funds and pension funds. Soom see it as a boon for reinsurance clients, but others remain cautious.

  • A Human Race

    Bill Coffin

    The April 15 bombings at the Boston Marathon are probably the worst act of terrorism on American soil since the 9/11 attacks some 12 years ago. The attack has all the hallmarks of what a terror event is supposed to do: strike innocent people in a highly visible fashion and...

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