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January 25 2010

Cover Story

Haiti Quake Loss Virtually Uninsured, But Industry Rallies To Raise Relief Funds

The initial magnitude 7.0 earthquake that caused catastrophic death and destruction in Haiti on Jan. 12 was virtually uninsured, although the insurance industry quickly rallied last week to help raise relief funds for the devastated nation....

Opinion

NAIC’s Climate Dogma Is Putting Insurers At Risk

Who Will Survive?

News

P&C Prices To Lag In Shrinking Economy

The moribund economy will combine with zero interest rates to deliver a one-two knockout punch to property and casualty insurer bottom lines....

Health Bill Fate Shaky After Senate Shift

The fate of health care reform legislation appears to be hanging in the balance in the wake of the upset election of a Republican from Massachusetts to the U.S. Senate....

Comp Carriers Must Be Leaner In ‘Shrunken New Normal’ Economy

When the U.S. recession finally ends, workers’ compensation systems will have to function in a “shrunken new normal” economy requiring cost cuts, one leading industry figure warned....

Agencies Can Expect Less Compensation

Insurance agencies should not be surprised to see less compensation from carriers in the year ahead as many companies reassess their payment arrangements and require more business from them in a difficult economy....

Real-Time Campaign Launches Agency Challenge

A property and casualty insurance industry initiative has been launched nationwide to increase the use of real-time processing by independent insurance agencies....

Market Report

Gen Re, Munich Re America Top List As ‘Best Overall’ Reinsurers, Cedants Say

Gen Re came out on top, with Munich Re America a close second as the “best overall” reinsurers in a survey of ceding companies by Flaspöhler Research Group....

How Was The Survey Done?

Since 1993, North America’s best reinsurers have relied upon the biennial, trademarked “Flaspöhler Cedant Survey” to help ensure that they are effectively and efficiently meeting the important (and evolving) needs of ceding companies. ...

Cedants Seek Long-Term Re Partnerships

Maintaining a long-term relationship and taking the time to learn about one another’s strategic plans and risk appetites are all critical factors....

Capacity For Reinsurers Seen Plentiful, But Concerns Loom

Most reinsurers have far more capital than a year ago, capacity is abundant, but problems lie ahead for the marketplace, one reinsurance brokerage predicted....

Buyers Report

Recession Fosters Creativity In Risk Management Education

Budget cutbacks for both public and private entities limiting travel and funding for risk management education have not stifled creative thinking when it comes to program development....

Financial Crisis Exposes Need For All To Adopt Enterprise Risk Management

The ongoing financial crisis underscores the need for companies to take a sobering look at their approach to risk management....

Arch CEO Sees No Market Turnaround Ahead

Pricing in the soft commercial insurance market won’t turn around for another two years at least, thanks to a variety of factors, the head of Arch Worldwide Insurance Group predicts....

Property Transactions Can Prove Toxic If Environmental Exposures Are Dug Up

Historically, potential environmental liability concerns often have been a major deal-breaker in the sale or transfer of real estate....

Fleming Now RIMS President

Terry Fleming took over as president of the New York-based Risk and Insurance Management Society for the 2010 term on New Year’s Day....

Still No End To Rate Softening In Sight

With capacity high, commercial insurance buyers saw premium prices continue to tumble in the fourth quarter of 2009, with few signs that the soft market cycle is nearing an end, according to the RIMS Benchmark Survey....