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National Underwriter Property And Casualty Insurance News.

October 12 2009

News

A diversified underwriting portfolio might seem like a good strategy for riding out the ebbs and flows of property and casualty insurance cycles....

The property and casualty industry in general supports creating a federal insurance office....

W Maurice Greenberg, AIG’s former chief executive, said rating agencies need government supervision, while credit default swaps should be regulated as insurance....

American International Group currently owes the U.S. government $83.6 billion....

The soft market continued to bottom out last month, as property and casualty insurance rate declines averaged 4 percent, compared to 5 percent in August, according to the Market Barometer survey by MarketScout....

Longtime banking executive Liam E. McGee has assumed command of The Hartford Financial Services Group as its new chair and chief executive officer, replacing the retiring industry icon, Ramani Ayer....

The Hartford Financial Services Group’s new chief executive could get as much as $8.2 million in compensation—slightly less than its former longtime CEO....

Market Report

Ross & Yerger Insurance is an agency with a long history that does not live in the past....

In tough times like these, insurance carriers need to find ways to help their independent agents get away from processing orders....

While a growing number of independent agencies are embracing technology as a key component of their success, some are still not tech-savvy enough to capitalize on the opportunities already at their disposal....

Thanks to a poor economy and lingering soft market, independent agencies have seen their return to shareholders deteriorate significantly over the past two years, the “2009 Best Practices Study” revealed....

Placing a client’s risk with a carrier that you trust will be there when a claim must be paid should be the paramount concern of every agent and broker....

When it comes to agent and broker errors and omissions risks, one area where agents might be missing potential liability concerns their exposure to data breaches, one major surplus lines broker warns....

Any agent or broker who hasn’t been auditing workers’ compensation claims is missing a great opportunity to lower their clients’ premiums and foster long-term relationships that can build their business. ...

With our economy showing mixed signs of an upswing, individuals and businesses alike are looking for avenues that provide the most cost savings and stability during these trying times—and independent insurance agencies are no exception....

Woodruff-Sawyer & Company can point to many elements that factor into the firm’s success....

In a down economy and relatively soft insurance market, independent agencies have had a hard time holding their own....

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