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National Underwriter Property And Casualty Insurance News.

October 19, 2009

Cover Story

The Chubb Group of Insurance Companies and FM Global were the big winners in the first “Risk Manager Choice Awards.”...



News

Legislation that would repeal the antitrust exemption provided health insurers and medical malpractice carriers through the McCarran-Ferguson Act is being pushed by two powerhouse lawmakers....

The Council of Insurance Agents and Brokers is partnering with LexisNexis to build a Web-based insurance exchange for independent producers, with test runs set to begin next summer....

No matter how many regulations or internal fail-safe systems an organization or a government puts in place, preventing systemic economic collapses means challenging peoples’ worst instincts....

The debate over wind-versus-water homeowner claims is not quite as cut and dried thanks to a ruling by the Mississippi Supreme Court in a Hurricane Katrina case....

There’s been a lot of talk on the acquisition front by excess and surplus lines insurance companies, but little action to date—even in a year that followed back-to-back declines in organic growth for the segment overall....

State regulators, possibly within days, will approve the hiring of a firm to reassess the evaluations of 17,600 residential mortgage-backed securities downgraded by the major credit rating firms, an official said....

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....

Market Report

Despite the poor economy, persistently soft market and the insurance industry’s chronic reputational challenges, buyers are basically happy with their commercial lines carriers, and most are unlikely to be seeking a change anytime soon....

This “Risk Manager Choice Award” special section, produced in partnership with National Underwriter, summarizes highlights from the 255-page report of the “2009 Flaspöhler Commercial Lines Survey.”...

Commercial insurers wondering what they need to do to attract and hang on to their customers got an earful from the 411 buyers responding to open-ended questions about what they want from their carriers....

A combination of financial strength, consistency of service capabilities on a global scale, as well as expertise in underwriting, loss control, claims and certain business niches is why Chubb was cited as “Best Carrier Overall”...

FM Global’s 1,600-acre research campus, staff of scientists, research engineers, and loss prevention studies tailored to specific industries and situations all come down to a client’s one “a-ha” moment....

Every company executive is on the hot seat in this difficult economy, and risk managers are no exception....

With U.S. tax and regulatory legislation up in the air for insurers and reinsurers, even if offshore moves adversely affect Bermuda’s longtime insurance supremacy, don’t expect carriers to abandon the island in droves anytime soon, analysts suggest....

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