News

With the two largest rating bureaus making big changes in the workers' comp arena, agents chances to outsmart the competition have perhaps never been better.

Chicago-based insurance broker Aon Corp. says 2011 fourth-quarter net income increased 20 percent as pricing in the insurance marketplace showed signs of stabilization.

A better bedside manner will help claims adjusters better serve policyholders.

National Crop Insurance Services (NCIS) says indemnity payments in 2011 surpassed $9 billion for the first time in historyand Moodys Investors Service says this development could put smaller, geographically concentrated insurers at risk.

Contingent-commission payouts are expected to be 12 percent higher this year than in 2011 as insurers make changes in the way they compensate agents, according to a report from consulting firm Ward Group.

Standard & Poors Ratings Service warns that signs are pointing to more unprofitable years for the U.S. Workers Compensation insurance market, and downgrades could be in the future if no improvement is shown.