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November 15, 2010
Cover Story
Excess Capital, Recession Create Uphill Trudge
Insurance brokers placing commercial lines business say they see no sign of a market turnaround anytime soon....
Opinion
Change For The Good?
What Are Your People Doing With Their Time?
News
Insurers To FSOC: Leave Investment Oversight To States
Three insurance trade groups are telling federal regulators that insurance investment activities are far less risky than those of banks and should be left to state regulators to oversee....
Calif. Commissioner Poizner Sues Over Insurers’ Iranian Investments
California’s outgoing insurance commissioner has filed a lawsuit challenging an administrative ruling dealing with Iranian investments by insurers....
Ambac Files For Bankruptcy; 3Q Profit Plummets
Ambac Financial Group Inc., which filed for bankruptcy protection last week, said its third-quarter earnings plunged....
Crop Insurers, Agents Adjusting To Government Subsidy Cuts
A vibrant farm industry is currently helping the crop insurance industry cope with the Agriculture Department’s decision to substantively cut back its subsidy program....
Chubb & Son Appeals, Puts Hold On Wash. State Suspension
Chubb & Son said it has appealed an order from Washington State Insurance Commissioner Mike Kreidler, who is looking to stop six Chubb subsidiaries from writing new commercial insurance in the state for nine months......
October Continues ‘Slow & Steady’ Trend, MarketScout Says
With U.S. property and casualty insurance rates falling 4 percent in October 2010, the industry may be experiencing a “new normal” in terms of market conditions, according to an executive....
AIG Fed Payback May Be Ahead Of Schedule; IPO Plan Announced
Robert H. Benmosche, president and CEO of American International Group, predicted that AIG’s repayment of a line of credit it has with the Federal Reserve Bank of New York could be complete before the end of this year....
Global Markets Offer Opportunity To Capital-Rich Reinsurance Companies
The international markets present a number of opportunities for an industry that is rich in capital and looking for growth, a Guy Carpenter executive said here. ...
Market Report
Parts Of Lloyd’s Concept Could Be Adopted In The U.S.: Conning
Duplicating the Lloyd’s market in the United States would be impossible, given state regulation and other factors, but some aspects of Lloyd’s could be adopted and benefit the U.S. insurance market....
Lloyd’s To Open Rep Office In Russia
Lloyd’s announced it will open a representative office in Russia next year....
SCOR To Back Lloyd’s Syndicate
Lloyd's Market Franchise Board gave its “in principle” approval for the creation of Syndicate 2015, SCOR announced....
Buyers Report
Current Soft Market Just Right For Buyers
Although the ongoing soft market hasn’t been a big hit with carriers, who are doing their best to stay competitive while maintaining underwriting discipline, corporate insurance buyers are giving glowing reports. ...
Take Advantage Of Buyers Market: Willis
Corporate insurance buyers need to enhance coverage as much as possible while the market is still soft, according to a report by Willis Group Holdings....
RMs Dissatisfied With Service Levels
rporate risk managers are generally dissatisfied with the level of service they get from both brokers and insurers, and very few of these insurance providers distinguish themselves in the marketplace....
Cost Of Claims Top RM Concern
When it comes to controlling their total cost of risk, 64 percent of corporate risk and finance managers surveyed said their top concern was their retained cost of claims, including from captives....
SOX Compliance Proves Beneficial To Organizations, Fuels Risk Consciousness
Sarbanes-Oxley turned eight this summer, and time has proved to be a friend to the once controversial legislation....
Group Captive Launches Tougher; New Hurdles Created By Financial Crisis
In the wake of the financial crisis, the captive industry is running into new stumbling blocks that can triple the time it takes to set up a captive, according to a captive manager here....
Psych Is Key Factor In Risk Preparedness
Corporations and individuals often underestimate their exposure to risk and are unprepared for disaster when it strikes, say experts who study risk....
Harnessing The Impact Of Communications For WC Programs
Behind virtually every successful workers’ compensation program, you will find an effective communications initiative....
Economy Not The Only Factor Driving Up Workers’ Comp Costs
Every industry has been affected by today’s economic trends, but the workers’ compensation industry has been hit from all directions....
Technology Trends
Software Buys For Insurers On The Rise
Insurers continue to invest in packaged insurance software solutions despite the poor economy, with deal flow actually improving as carriers look to cut expenses and keep up with the competition, a new study reveals. ...
Agency Social Networking Goes Tech Through Social Media Efforts
The growth of social media over the Internet is something insurance agents can embrace and learn to use as another tool to help grow their business, experts in its use said earlier this year....
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