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National Underwriter Property And Casualty Insurance News.

December 14 2009

News

Four consumer groups are blasting the Independent Insurance Agents and Brokers of New York for their threat to sue the state insurance department over proposed compensation disclosure regulations....

A pair of pricing surveys clashed last week over whether commercial insurance rates have stabilized and are heading up slightly on average, or are in fact continuing to decline in a persistently soft market....

Language contained in their own claims manuals might void policy exclusion provisions insurers have used to deny Chinese drywall homeowners claims, according to an insurance law expert....

The regulator leading the National Association of Insurance Commissioners’ controversial effort to collect insurer climate risk data said companies will be given lots of leeway in responding....

Consumer advocates face an institutional bias at the National Association of Insurance Commissioners because they lack the people and money to level the playing field in lobbying regulators....

State legislators have slammed a National Association of Insurance Commissioners proposal for regulatory reform, charging it would permit federal authorities to take over their insurance lawmaking function....

Major insurance trade groups are asking the Senate Banking Committee not to require large financial institutions to prefund a systemic risk resolution fund as part of financial services reform legislation....

Market Report

The recession is putting a strain on the earnings produced by the employee benefits business of independent agents and brokers....

As nearly every sector has struggled in this rocky economy, one recurring thread that has tied them together is the value of good strategic partnerships....

Technology Trends

The tough economic realities of the past year have led insurers to fundamentally re-evaluate how they interact with IT vendors. ...

Most insurance companies went into survival mode in 2009 to get through the economic collapse. Many turned to innovative technology measures to boost business....

The insurance business, as we knew it, changed profoundly in 2009—transforming at a velocity never before seen in our historically slow-to-change industry. ...

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