PropertyCasualty360: Property & Casualty Insurance News & Tips

Emerging Demand: Second-Tier Supply Chain Cover

Bonnie Cavanaugh, E&S Editor

An informal poll of Manufacturing insurance pros reveals the top risk concerns of insureds, and just how intertwined the exposures in this market can be.
Bermuda-Based Companies See Dramatic Improvement in Q1 Results

Chad Hemenway, Phil Gusman

Bermuda insurers and reinsurers report strong first-quarter earnings relative to a year ago, with several swinging back into the black after reporting Q1 losses in 2011.
Seeking 831(b) Treatment? You’d Better Meet These Requirements

Dave Lenckus

While many midsize businesses are now enjoying the same advantages Fortune 1000 companies have found in maintaining captive domiciles, a captive is not an appropriate self-insurance tool for every company.
Marsh: Primary D&O Rates Rising, But Excess Layer Remains Soft

Chad Hemenway

Rates for primary Directors & Officers Liability insurance programs for public companies in Q1 2012 were up an average of nearly 1.5 percent, after decreasing an average of about 4.3 percent in 2011.
Report: Workers’ Comp Insurers May Be Pressured into a Hard Market

Phil Gusman

With the current investment environment not benefitting Workers Compensation insurers, companies may be pressured into a harder market as they try to achieve underwriting profits in a line that hasnt seen combined ratios of less than 100 since 2006, according to a new report.
Despite More Ads, Fewer Auto Insurance Consumers Shopping

Phil Gusman

Fewer auto-insurance consumers are shopping their coverage today, but those who do shop seem more willing to switch providers than in past years thanks to competitive quotes, says J.D. Power and Associates.
Former Aon Senior Exec Pursues Social & Entrepreneurial Dream

Mark E. Ruquet

After helping Aon CEO Greg Case reinvigorate the firm, Ted Devinepreviously president of Aon Risk Servicesleft in 2009 to pursue his dream of helping inner-city youths become better citizens. Recently, he stepped back into the insurance industry as CEO of Dallas-based Insureon, an online insurance agency for small businesses.
Actual Cash Value vs. Replacement Cost: Navigating the Policy

Susan Massmann

Standard replacement-cost provisions on commercial property forms often offer the insured the option to accept settlement on an actual-cash-value (ACV) basis, but the insured can later opt to receive the replacement-cost amount.
The Value Is in the Service

Gary Stephen

When a puff-back in the chimney of the home of a Rhode Island manufacturing companys CEO caused extensive damage throughout his familys elegant 7,200-square-foot Colonial home, his claims adjuster faced a complex case: The smoke damage to the decorative painting on the living room walls would require careful restoration, while...
Liberty Mutual Prepares for More Storms, Seeks ‘Sufficient’ Rate

Chad Hemenway

Liberty Mutual has restructured its reinsurance program to be better prepared for storms, according to its president and CEO.
Survey: 9 in 10 Would Pay for Disability Insurance, If They Knew What It Was

Mark E. Ruquet

Most employees know very little about Group Disability Insurance, but when they learn more about it, nine out of 10 say they want the coverage and are willing to pay for it, according to a survey by the Consumer Federation of America (CFA) and employee-benefits insurer Unum.
At Captive Insurance Companies, the Role of the Independent Director Is Growing

Andrew J. Barile

The current climate is gravitating toward pushing captivesincluding single-parent captives, association captives and agent-owned captivesto appointing experienced, independent directors to their boards.
Producers Identify Manufacturing Clients’ Biggest Coverage Concerns

Bonnie Cavanaugh, E&S Editor

While Workers Comp, Product Recall and Supply Chain Management remain the greatest coverage concerns for manufacturers, Cyber Liability is also becoming a top-of-mind issue, producers say.
As Older Agents Try to Adapt, Younger Agents Want to Be Heard

Mark E. Ruquet

The aging ranks of producers trying to develop succession strategies and adapt to new, ever-evolving sales tools remains a top concern among the agent and broker community, says the chairman of the Independent Insurance Agents & Brokers of America (IIABA).
KRE Insurance Adapts to Increasingly Global World, Sophisticated Criminals

Chad Hemenway

Kidnap, Ransom and Extortion insurance coverage is much more than the name implies. The coverage has become broadone shaped by competition and a growing need as we become a more globalized, high-tech society within many areas of political or economic strife.
Increasing Number of Captives Opt to Domicile on U.S. Soil

Anya Khalamayzer

Grounding no longer sounds so bad: Driven by financial incentives, new captives are choosing to stay closer to home.
831(b) Captives: ‘Small’ Option Is Increasingly Big Idea for Midsize Cos.

Dave Lenckus

Despite their recent growth among midsize companies, these small-size risk vehicles arent for everyoneand may attract unwanted attention from the IRS
Utilizing Claims Data to Control Workers’ Comp Costs

Mark E. Ruquet

Risk managers seeking to keep Workers Compensation costs down would do well to utilize claims data and perform analyses that could help them avoid the most expensive claims.

National Underwriter Property & Casualty-May 7, 2012

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