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National Underwriter Property And Casualty Insurance News.

November 9, 2009

Cover Story

While the majority of producers appear to be basically satisfied with many key aspects of their dealings with carriers, there is still plenty of room for improvement....



News

The authority of federal regulators to oversee and liquidate large, troubled insurance companies should be significantly pared back in legislation Congress is considering to deal with systemic risk to the economy, industry leaders are arguing....

Direct insurance regulation is likely to remain a state rather than federal function, Illinois Insurance Director Michael McRaith predicts....

Legislation to modify the federal antitrust exemption for health and medical malpractice insurers “will have no significant effect” on premiums charged for private health insurance, the Congressional Budget Office has determined....

The U.S. Senate’s vote to continue the National Flood Insurance Program for only 46 days drew fire from an insurance agent group, which warned against playing “Russian roulette” with policyholders....

Stunted wages, heftier workloads and shriveling benefits are just a few of the challenges that continue to plague claim professionals, according to the 2009 Salary Survey conducted by Claims magazine....

Marsh & McLennan Companies Inc. reported third-quarter net income of $221 million despite declining revenues in most segments....

Willis Group Holdings Chair and Chief Executive Officer Joe Plumeri reiterated his position that his firm will not take contingent commissions, even if a five-year-old agreement banning them is lifted....

Property and casualty insurers can expect to be hit by a swirl of claims arising from swine flu that include actions against homeowners, businesses and health care facilities, a medical malpractice defense attorney predicts....

They’re located in Canada, Florida and a Mississippi Gulf Coast town still reeling from Hurricane Katrina. They have as few as 10 employees and as many as 250. ...

Property and casualty insurers are faced with difficult choices when dealing with aging claims systems, which can’t provide the high level of service that customers expect from their carriers today, one leading consultant warns....

Market Report

Producers are feeling the heat in this tough economy, expecting buyers to cut back on coverage, push harder for the best price and go bare in some areas, according to a new Producer Satisfaction Survey....

While producer priorities and perceptions of how well insurers are fulfilling their needs are often alike no matter the age, gender or race of respondents, there are some significant differences carriers should be aware of....

In a time of increasing uncertainty for benefits plan fiduciaries, greater focus on the terms and conditions of fiduciary liability insurance policies is of paramount importance, a brokerage expert believes....

Many small-cap companies—those with the lowest levels of market capitalization—are currently facing a Catch-22 situation that impacts members of their boards of directors....

If there’s a common thread among underwriters and insurance brokers serving the growing allied health industry, it is fierce competition triggered by a soft property and casualty market and excess capacity, experts contend....

Errors and omissions policies are not just the purview of the mega-brokers....

After an unexpected second-quarter dip, securities lawsuit filings shot back up in the third quarter. ...

Even though securities suits related to the Madoff Ponzi scheme and the credit crisis trailed off in third-quarter 2009, financial firms were still the leading type of company sued with one-third of the cases filed, a research firm reported....

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