PropertyCasualty360: Property & Casualty Insurance News & Tips

Easy Sailing for Bermuda Reinsurers During Q1, But Tides May Change

Anya Khalamayzer

The sun shone on Bermudas reinsurers during the first quarter of 2012, but regulatory changes and cat losses still lurk in the water.
Markel Execs: Inconsistent Pricing on Renewals, New Business Betray Notion of Hardening Market

Chad Hemenway

Markel Corp. indicates talk of a hard market may be premature, as insurers are not exhibiting the same underwriting discipline for new business as they are for renewals.
Unloading Confusion: When Is Property ‘Finally Delivered’?

David Thamann

The Commercial General Liability (CGL) form and the Business Auto policy (BAP) contain complementary language when it comes to a claim for injury or damage arising out of loading or unloading property from a motor vehicle. This complementary language is found in exclusions: The CGL form does not apply to...
Tech, Social Media Can Help Agencies Brand Like the Big GuysTech, Social Media Can Help Agencies Brand Like the Big Guys

Laura Mazzuca Toops

Coke, Apple and United Airlines: For better or worse, these corporate names have achieved brand recognition that make them virtually synonymous with the products they sell.
International P&C Operations ‘Begging’ for AIG Name

Chad Hemenway

The head of American International Groups commercial-insurance division says the bailed-out insurers reputation is not an issueand, in fact, competitors may have erred by not working harder to take AIGs insurance business when it was on the verge of collapse.
Lloyd’s of London Unveils Strategy for Future Growth, Asserts Itself to Brokers

Chad Hemenway

Lloyds is turning the calendar ahead to the year 2025 in a high-profile effort to re-emphasize its goals for growth in the specialty insurance and reinsurance marketplaces.
Not Just Claims, But People

propertycasualty360

Open communication among all parties involved in Workers Comp claims has been growing in cost-control importance over the last few years, says Maureen McCarthy, senior vice president and manager of Workers Comp and managed care at Liberty Mutual.
PIAA President: Changes in Procedures Helping Medical-Liability Industry to Improve

Arthur D. Postal

The medical-liability insurance industry has recently seen positive results and is working to minimize the peaks and valleys that it has historically seen, according to Brian K. Atchinson, the new president and chief executive officer of the Physician Insurers Association of America (PIAA).
More Sellers Meeting Heavy Buyer Demand in Agency M&A Marketplace

Kevin Stipe

Agency mergers-and-acquisitions activity has come roaring back after plummeting during the economic crisis of 2008-2009. In fact, 2011 was the second-most-active year for M&A in the insurance industrys historyonly 16 deals short of the all-time record of 301 deals announced in 2008. If current trends hold, 2012 may set a...
Independent Adjusters Must Be Agile, Responsive

Melanie Elias

Independent insurance adjusters play many roles in handling P&C claims.
One Year Later, Missouri Director Huff Recalls Carriers’ Response to Joplin Tornado

Chad Hemenway

If you look at a map of the United States, one could make a case that Joplin, Mo., is the heart of the country.
Farmers, State Farm, American Family Reps Look Back

Chad Hemenway, Anya Khalamayzer

As a spokesman for State Farm, Jim Camoriano has worked the aftermaths of hurricanes Gustav and Ike in 2008 and has seen his share of tornado damage.
Thinking About Revising Your WC Underwriting Policies? You’d Better Start Now

Emil Metropoulos

Over the past year the major ratings agencies have expressed concern over challenges the Workers Compensation line has faced during the recession, as well as the continued pressures it faces in achieving long-term profitability. In its January briefing, Standard & Poors went so far as to describe Workers Comp profitability...
In Control: Strategies for Keeping a Lid on Workers’ Comp Expenses

Bonnie Cavanaugh, E&S Editor

Controlling Workers Compensation costs is a process that needs to start at the very top: Those in the C-suite need to commit themselves to creating a zero-injury culture at their organizations, says Calvin Beyer, head of manufacturing for Zurich North America Commercials customer industry segments.
Cost-Control Case Study: Miami-Dade Public Schools

Bonnie Cavanaugh, E&S Editor

Creating best practices in Workers Comp for many insurers now means going beyond the basics, digging deep into their claims history, and making manufacturing better at manufacturing Workers Comp.
AAMGA Voices Concerns Over RMS Version 11 Shifting Risk to E&S Markets

Mark E. Ruquet

Risk Management Solutions Version 11 catastrophe model is shifting rates higher and causing some risks to move from the admitted market back to excess-and-surplus-lines carriers, but the leader of one managing general agent group is concerned about the models overall impact on underwriting practices.
The Right Stuff

Bonnie Cavanaugh, E&S Editor

Finding the right insurance carrier to help a company mitigate its Workers Comp costs is key, says Mary Beth Pittinger, vice president and executive underwriter of Workers Comp for the Chubb Group of Insurance Cos.
Key Trends in Environmental Insurance

Bryant Rousseau

Bill Pritchard, president of Beacon Hill Associatesa wholesale broker specializing exclusively in environmental-insurance solutions for commercial insuredsdiscusses emerging risks in this space, pricing and the new business opportunities presented by standard contractors.
Cracking Open Key Risk Indicators

Denise Tessier

Everyone wants to know what the future will bringand this is especially true in the world of risk management, where professionals are dedicated to identifying current and future sources of risk or loss and eliminating or mitigating such potential loss through the application of controls.
Carrot & the Stick: Chargebacks & Incentives

propertycasualty360

Two effective Workers Compensation cost-control strategies involve the carrot and the stick.
Underwriting Considerations

propertycasualty360

Calvin Beyer, head of manufacturing for Zurich North America Commercials customer industry segments, offers this list of the best practices it looks for at the companies whose Workers Compensation programs the carrier is considering covering.
Catastrophe-Bond Placements Reach Q1 Record

propertycasualty360

Catastrophe-bond activity reached record levels in 2012s first quarter, exceeding last years placements by more than $300 million, says Guy Carpenter. The reinsurance broker issued a report saying that total global catastrophe-bond placements reached $1.34 billion issued through eight transactions.

National Underwriter Property & Casualty-May 21, 2012

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