Insurance Journal TV » Editors’ Featured

Norwood on Workers’ Comp

bpedroso — Tue, 31 Jan 2012 05:12:12 +0000

John, principal of Norwood & Associates, has been an lobbyist for insurance and financial services sectors across several decades. Norwood offered a focused looking at the all-important workers’ compensation issue, and he gave his thoughts on health insurance exchanges. In fact, Norwood forecast that 2012 will rank as an important one when it comes to workers’ comp reform, and the year will bring even more dramatic change, or at least debates, on health insurance.

Lobbyist Norwood Analyzes Consumer Watchdog Legislation

bpedroso — Tue, 31 Jan 2012 05:10:13 +0000

John Norwood is one of California’s best known legislative advocates for the insurance and financial services sectors. Norwood spoke to the Insurance Journal about legislation and regulation, including a proposal by a consumer advocacy group that would establish prior approval for healthcare insurance and would make major changes to auto insurance and homeowners insurance in California.

At-Home Insurance Careers for Disabled Veterans

bpedroso — Wed, 18 Jan 2012 20:46:05 +0000

For insurance agents Gary Trippe and Jim Pender, the idea for DVIC, or Disabled Veterans Insurance Careers, which aims to guide disabled veterans into careers in insurance, evolved in part from their own personal experiences with disabled family members. In this interview with Insurance Journal’s Andy Simpson, the two share their dream of an organization that will train and employ disabled veterans in sales and service jobs they can do from home. This podcast and story are part of a series on veterans in insurance.

North Carolina Veteran Gambled, Won with Own Agency

mtolk — Wed, 18 Jan 2012 20:39:54 +0000

North Carolina’s C.G. Caldwell joined the U.S. Coast Guard at age 18 right out of high school. He served in the health services field in the U.S. Coast Guard from 1990 until 2001, stationed on large medical ships in ports from New York to San Francisco. After leaving the Coast Guard, he worked in another hospital for four years before deciding he needed a change. In this interview with Insurance Journal’s Andy Simpson, Caldwell says the confidence he gained in the military made it possible for him to risk going out on his own and starting his own insurance agency. He advises other veterans to consider a career as an agent. This podcast and story are part of a series on veterans in the insurance industry.

Mission Accomplished with Liberty Mutual

mtolk — Wed, 18 Jan 2012 19:41:03 +0000

Shane Crockett served 13 years in the U.S. Navy and then several years as an engineer in the private sector before enlisting in Liberty Mutual’s corporate development program. Today he is a regional underwriting vice president. In this interview with Insurance Journal’s Andy Simpson, Crockett explains how his Liberty Mutual job is not only drawing on the analytical and leadership skills he learned in the military but also restoring the sense of purpose he felt while in the Navy. This podcast and story are part of a series on veterans in the insurance industry.

Aon Turns to Veterans for World Crisis Team

mtolk — Wed, 18 Jan 2012 13:15:10 +0000

When the phone rings in the World Aware Operation Center at Aon Corp. in Chicago, the caller is probably someone having a bad day someone in the world. The call is answered by a unique military-like crisis response team that is staffed entirely by veterans, several of them wounded warriors. These insurance warriors include Mike Kiewski, Chad Watson and Yesenia Ortiz. In this interview with Insurance Journal’s Andy Simpson, these three veterans discuss their work at Aon and how their military experience is paying off for them and Aon’s customers. This podcast and story are part of a series on veterans in the insurance industry.

More of the Same in Agency E&O

bpedroso — Thu, 12 Jan 2012 10:00:24 +0000

Agencies must provide the right kinds of coverage for new and emerging risks. To do so, agents must stay on top of changes in coverage, new markets and much more. But despite all the new and sometimes exotic coverage options available today, the number one agency errors and omissions exposure has stayed the same for more than two decades. Sabrina Sally, senior vice president with Swiss Re Corporate Solutions, who leads the carrier’s U.S. agents E&O program, says the top threat to agencies remains the failure to procure coverage. In this podcast, Sally talks about the agency E&O climate today and offers a few tips on how agency owners can protect their firms in 2012.

How Calif. Agent Started His Agency

mtolk — Wed, 11 Jan 2012 21:21:11 +0000

Yes, finding markets is a challenge. So is financing. And the soft market doesn’t help. But Phil Hakopian managed to overcome these and other obstacles to launch his Rancho Cucamonga, Calif. agency, Cornerstone Commercial Insurance Services. In this interview with Insurance Journal from the recent WIAA Insurance Industry Roundtable, Hakopian says if he can do it, so can others.

Smartphone Marketing for Agents

mtolk — Wed, 11 Jan 2012 21:16:41 +0000

Just when agencies thought they had a handle on digital marketing, and the value of local search from Google, along came the smartphone revolution. In this Insurance Journal interview at the recent WIAA Insurance Industry Roundtable, Michael Jans, president of Bend, Ore.-based Agency Revolution, an agency consulting firm, discusses how marketing has changed and what agencies need to know about the smart phone challenge and the newest wave in marketing.

How Insurance Distribution Is Changing

mtolk — Wed, 04 Jan 2012 22:31:52 +0000

Retail and wholesale brokers face the challenge —and opportunity— of redefining their relationships and value proposition in today’s changing insurance distribution world, according to Glenn Hargrove, president, MarketScout Wholesale, Dallas, Tex. In this interview from the recent Western Insurance Agents Association’s Insurance Industry Roundtable in California, Hargrove outlines the value proposition of agents and brokers and discusses the future of distribution.

Agency Exchanges: Big Brother for Small Agent

mtolk — Wed, 04 Jan 2012 22:31:44 +0000

Richard Kerr is bullish on exchanges for small agencies. That’s understandable given that he is founder and CEO of Dallas, Texas-based insurance exchange MarketScout. In this interview from the recent Western Insurance Agents Association’s Insurance Industry Roundtable, Kerr discusses how exchanges have evolved and why he thinks they are the wave of the future for small agencies. He says that while exchanges provide markets for agencies, they can also offer a lot more.

As the Market Turns, What Is Broker’s Role?

mtolk — Wed, 04 Jan 2012 22:31:34 +0000

The soft market is turning, perhaps not dramatically but it is turning, says Jerry Sullivan, chairman, The Sullivan Group, in Los Angeles. If carriers decide they must raise prices, will customers pay them? As the market turns, what role should brokers play? Sullivan gives his views in this interview with Insurance Journal from the recent Western Insurance Agents Association’s Insurance Industry Roundtable, starting with what is happening to rates.

Vertafore: Intelligence in Technology

bpedroso — Tue, 20 Dec 2011 22:10:37 +0000

Insurance technology leader Vertafore serves 15,000 agencies, 1,000 carriers and about 750 managing general agencies. Steven Finch, vice president of Market Solutions, says the recent purchase of Vertafore by private equity firm TPG Capital lets Vertafore target even larger acquisitions to grow. In this interview, Finch reviews the concept of intelligent workflow and the future of insurance technology in an age of mobility.

A Full Plate in 2011 for Oklahoma’s Commissioner

bpedroso — Mon, 19 Dec 2011 10:00:41 +0000

In his first year as insurance commissioner of Oklahoma, John Doak has been a busy man.

Doak and the agency he leads have had their hands full implementing reforms in the workers’ compensation system, dealing with a host of natural catastrophes, encouraging insurers to offer more products and services in the state, and working with the governor and legislature to foster an “Open for Business” environment in Oklahoma.

A former insurance producer and agency principal, Doak believes in fostering a competitive, market-based approach to resolving insurance issues while continuing to serve consumers through outreach and regulatory protections.

Torus International CEO Comments on CV Starr Acquisition; Industry Prospects

bpedroso — Tue, 06 Dec 2011 16:42:21 +0000

Torus’ acquisition of CV Starr’s continental Europe business fits a pattern that has allowed the company to expand rapidly since its founding in 2008. In an interview with the IJ, while the transaction was in negotiation, International CEO Dermot O’Donohoe gave some insights on Torus’ strategy, and how it plans to continue future expansion.

Swiss Re Chief Economist Analyzes Current Market Conditions

bpedroso — Mon, 05 Dec 2011 22:22:22 +0000

Swiss Re’s chief economist Kurt Karl discusses the challenges the insurance industry faces, focused on the current economic and political environment, low investment yields, the euro debt crisis and slowing growth in emerging markets.

Cyber Monday Raises Cyber Risk

bpedroso — Mon, 28 Nov 2011 15:39:43 +0000

Cyber Monday may be one on of the most profitable days of the year, but it is also one of the riskiest for those in the cyber fraud industry.

Brokers: Overcome Fear of Patent Insurance

bpedroso — Wed, 23 Nov 2011 17:22:11 +0000

Garrett Koehn, president of Northwestern U.S. for Crump Insurance Services, authored his first intellectual property and technology related coverages in 1995, working Yahoo, Excite, and others in the Silicon Valley. Here in an interview at the 2011 PLUS Conference with Insurance Journal and Claims Journal, Koehn discusses one form on IP insurance, patent insurance, and why brokers must overcome their fear of it.

Nevada’s New Insurance Commissioner Lays out Pro-insurance Agenda

bpedroso — Wed, 16 Nov 2011 23:20:52 +0000

This is the second time Scott Kipper has assumed the role of insurance commissioner for Nevada. His start date was Oct. 24, and now that he’s back he says he plans to bolster the state’s insurance business, and the business environment in general.

Don’t Let the Bed Bugs Bite! Managing and Mitigating Bed Bug Exposures

bpedroso — Wed, 16 Nov 2011 10:00:17 +0000

In this Markets in Motion Podcast, Crystal Jacobs, product specialist with Professional Liability Insurance Services (PLIS) Underwriting Facility and Pam Ritz, president of Specialty Risk Management, discuss the PLIS Bed Bug coverages created to help hotels and motels deal with a bed bug outbreak and the fallout that comes with it.

Interesting Times in Medical Liability

bpedroso — Mon, 14 Nov 2011 18:26:26 +0000

The medical liability market continues to perform well even as the nation struggles to implement health care reform. Robert Allen, senior vice presidents at Torus Insurance, says many health care institutions are implementing new strategies to be successful in today’s health care reform world. In this interview with Insurance Journal’s Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Allen says the day of individual health care practitioners is slowly going away. This trend, he adds, is creating new growth opportunities for insurance industry professionals.

Catastrophes’ Impact on the Market

bpedroso — Mon, 14 Nov 2011 18:25:57 +0000

Michael J. Carr, senior vice president of excess and surplus property for Liberty Mutual Underwriters, has more than 18 years of experience managing, developing, and underwriting in the E&S property business. When he was at the National Association of Professional Lines Office convention in San Diego earlier this month he spoke about how the year’s catastrophes have affected the market.

Pressure to Merge

bpedroso — Thu, 10 Nov 2011 17:21:44 +0000

The soft market and tough economy has placed pressure on some wholesale brokerage firms to merge. Neal Abernathy, CEO of Swett & Crawford, thinks the surplus lines industry will see more consolidation in the future thanks to the rising cost of doing business today. In this interview with Insurance Journal’s Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Abernathy says while there will always be a place for smaller wholesale firms, especially specialists, large organizations may dominate as insurance carriers and retail brokers continue to limit the number of wholesale partners they choose to do business with.

The Future for NAPSLO

bpedroso — Thu, 10 Nov 2011 17:20:05 +0000

Brady Kelley, the new executive director of the National Association of Surplus Lines Offices (NAPSLO), is not a newcomer to the insurance industry. He brings to NAPSLO a unique view in insurance regulation. Kelley spent the last 13 years working with the National Association of Insurance Commissioners with oversight in the divisions of finance, products and services, and technical services. In this interview with Insurance Journal’s Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Kelley discusses his first impression of NAPSLO’s well-known annual convention and his hopes for the future of the association.

Bartosh Tech Commitment Comes from the Top

bpedroso — Thu, 10 Nov 2011 17:19:46 +0000

Brian Bartosh, chairman of ASCnet User Group, took some time to talk with Insurance Journal about the group’s vision and technology. Bartosh is president of Alpena, Mich.-based Top O’ Michigan Insurance, his father’s agency. He joined Top O’ Michigan in 1979 as a sales representative. Today he serves as president and shareholder.

Getting Better

bpedroso — Thu, 10 Nov 2011 17:19:05 +0000

The surplus lines industry continues to outperform the overall property and casualty industry year after year; but that performance gap is shrinking. Profitability in surplus lines isn’t quite what it used to be. But industry innovator Patrick Ryan, chairman and CEO of Ryan Specialty Group says there’s a lot of interest right now in surplus lines. And there’s a reason for that. That reason is innovation, a key attribute to surplus lines. In this interview with Insurance Journal’s Andrea Ortega-Wells at the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Ryan shares his thoughts on why the surplus lines industry will keep its lead and why he believes now is the right time to grow.

Downsized Partnerships in Surplus Lines

bpedroso — Thu, 10 Nov 2011 17:18:39 +0000

The surplus lines industry is getting smaller, at least in terms of the number of wholesale partners retail brokers are choosing to do business with. Patrick Ryan, chairman and CEO of Ryan Specialty Group, says that Aon’s announcement this year to limit its wholesale partnerships to just two brokers — Ryan Specialty Group and AmWins — is a trend that will continue. It comes down to cost, he says in this interview with Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego. Ryan says the industry will continue to see downsized partnerships, even at the carrier level. Even so, he doesn’t believe the surplus lines industry will see more carriers bypassing wholesale partners to go direct to agents. That trend may even “shift back.”

Pat Ryan Asks, ‘Are You Happy?’

bpedroso — Thu, 10 Nov 2011 16:52:13 +0000

Patrick Ryan is an innovator who sees opportunity. And it was opportunity that drove him to launch Ryan Specialty Group in early 2010. Success lies in hiring “good people,” Ryan says. In this interview from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention in San Diego, Ryan says his newest venture gave opportunities to many good people already in the surplus lines industry. Ryan is a believer that more people leave, before they go. Here’s what he had to say about why so many professionals joined the ranks, and continue to join, Ryan Specialty Group today.

How to Buy Agency E&O

bpedroso — Tue, 08 Nov 2011 23:56:09 +0000

Not all agency errors and omissions policies are the same. So what are the major differences? Also, how does an agency know what limits to buy? Lisa Doherty is CEO of Business Risk Partners, which counts insurance agency E&O as one of its specialties. Doherty discusses what to look for when buying E&O and whether now is a good time for agencies to shop around for coverage, in this interview with Insurance Journal and Claims Journal.

Substantial Catastrophes

bpedroso — Mon, 31 Oct 2011 19:48:55 +0000

Beazley Group’s Judy Patterson took some time out of her schedule at the National Association of Professional Surplus Lines Offices to offer her take on subjects like catastrophes, risk, rate stabilization and surplus lines. One thing that’s important to note, she says, is that this year has seen an almost unprecedented level of substantial catastrophes, carving into surplus carriers’ performance. On a high note, she says “we have seen some signs of rate stabilization this year, particularly over the past three or four months.”

The Best Practices of Today’s Agencies

bpedroso — Mon, 31 Oct 2011 17:27:03 +0000

Since 1993, the Independent Insurance Agents & Brokers of America (Big “I”) and Reagan Consulting have teamed up to investigate why some independent agencies do better than others even in challenging market conditions. The Best Practices Study has grown to become an industry standard for performance benchmarks in revenue and expense growth, profitability, employee productivity and other important measures. In this podcast, Insurance Journal’s Andrea Ortega-Wells talks with Madelyn Flannagan, vice president of agent development, research and education for the Big “I,” and Shirley Lukens, senior vice president at Reagan Consulting and lead consultant, about the history of the study, what growth strategies top performing agencies use in today’s market, and what tools agencies might use to improve their own results in the future.

Emerging Risks at Lloyd’s

bpedroso — Wed, 26 Oct 2011 16:07:49 +0000

As the leading surplus lines market, Lloyd’s does a lot to stay on top of emerging risks. Part of that effort includes a team of emerging risk researchers based in London. In this interview from MarketScout’s Entrepreneurial Insurance Symposium in Dallas, Hank Watkins, president of Lloyd’s North America, describes the emerging risk unit at Lloyd’s and how an emerging risk is identified.

The Lloyd’s Market

bpedroso — Wed, 26 Oct 2011 16:07:34 +0000

Lloyd’s has built a reputation over the years as being one of the most innovative insurance markets in existence today. But despite that reputation, the famous Lloyd’s underwriting room may never change, says Hank Watkins, president of Lloyd’s North America. In this interview from MarketScout’s recent Entrepreneurial Insurance Symposium in Dallas, Watkins describes the Lloyd’s market, its unique set up, and why the face-to-face interaction that happens in Lloyd’s underwriting room is so important.

A View From the HUB

bpedroso — Tue, 25 Oct 2011 22:41:02 +0000

Being on the same page, with the same mind set and the same interests made all the difference for the group of entrepreneurs that founded what is now known as HUB International Ltd. Rick Gulliver, president of HUB, says there’s not one hero in the success of HUB; but rather a group of heroes that turned a small group of 11 Canadian brokerages producing just $38 million in revenue collectively in 1998 to a powerhouse organization with some 250 offices in North America, producing $645 million in property/casualty revenue in 2010. In this interview from MarketScout’s recent Entrepreneurial Insurance Symposium in Dallas, Gulliver discusses the idea that became HUB International.

Catlin’s Peter Dobbs Describes Coverage and Security for Ships at Risk from Somali Pirates

bpedroso — Tue, 25 Oct 2011 20:43:32 +0000

Catlin has launched a comprehensive policy to combat the piracy menace in Somalia. Headed by Peter Dobbs, Catlin’s Asset Protection service focuses on prevention as well as on extracting ship, cargo and crew. In this interview with the Insurance Journal, he describes the problem, some solutions and how it will change global shipping.

Does Innovation Miss the Mark?

bpedroso — Mon, 24 Oct 2011 22:37:59 +0000

Michael Lee, founder, chairman and CEO of the Tower Group, doesn’t believe innovation runs deep in the insurance industry. The insurance industry is not known as being one of the most innovation industries in the financial services world, and that reputation is somewhat deserved, Lee says. But that trend is changing, and continues to change. In this interview from MarketScout’s annual Entrepreneurial Insurance Symposium in Dallas, Lee explains what parts of the insurance world do a good job at innovating and where innovation may be lacking.

Best’s Managing Director-Europe: Solvency II is Coming to an Insurer near You

bpedroso — Mon, 24 Oct 2011 18:08:24 +0000

Stefan Holzberger, A.M. Best’s managing director-analytics, based in London, knows both sides of the Atlantic. In this interview he tells U.S. insurers what impact the European Union’s Solvency II regulations will have on their business – both directly and indirectly, and warns them to “join the dance” – the sooner the better.

High Tech, High Hopes: Applied Systems CEO French

bpedroso — Fri, 21 Oct 2011 19:25:43 +0000

Reid French is the new CEO of insurance technology firm Applied Systems. While a newcomer to insurance, French is not new to technology. In this interview with Insurance Journal’s Andy Simpson, French begins with some of his background and then talks about what lies ahead for Applied Systems users and for agency technology in this environment of increasing mobility and rising customer expectations.

Expanded Perils

bpedroso — Thu, 20 Oct 2011 20:29:09 +0000

In the Middle East, in Egypt, in Tunisia, in Libya, during the Arab Spring of this year, a wave of revolutionary activity drew the eyes and ears of the world. In insurance, such activities beg an important question: What do clients with insurable assets in countries undergoing violent change need to know? For one, they need to know the difference between war, terrorism and political violence. But most importantly, they need to know their policies, says Robert Cruz, vice president of war, terrorism and political violence for Bermuda-based Hiscox USA. Cruz’ mission is to get his brokers and their clients in the Middle East, and even in Europe, to understand the full scope of “the expanded perils” that overseas operations can face. The right coverage can protect assets should any number of a host of unthinkable events unfold, such as insurrection, coup d’état, mutiny, revolution. Bottom-line: Companies with international operations need to be sure they’re buying the right coverage.

Intermediary Value

bpedroso — Tue, 18 Oct 2011 19:55:01 +0000

The prolonged soft market and tough competition in the property/casualty insurance industry have opened the door for at least two surplus lines carriers to go direct to retail agents in the last year, bypassing the wholesale broker on some pieces of business. But will that trend continue? Thomas J. Curtin, co-chairman, founder and CEO of CRC Insurance Services, doesn’t think so. While Curtin respects the decision of carrier executives to change their business model, he believes such changes prompt adversarial reactions from many in the surplus lines industry. Curtin says the biggest change to distribution models will come from technology. In this interview with Insurance Journal’s Andrea Ortega-Wells from the annual National Association of Surplus Lines Offices (NAPSLO) annual convention, Curtin says surplus lines brokers must develop and deliver a service that is representative of the cost to retain maximum value in the industry.

FERMA Growth Assured as Den Dekker Steps Down

bpedroso — Fri, 07 Oct 2011 21:39:18 +0000

Peter den Dekker’s tenure as president of the Federation of European Risk Management Associations (FERMA) could well be described as a tipping point in bringing risk managers into the main stream of European business, and establishing FERMA’s leading role in discussions with brokers, re/insurers and regulators. In this interview, you’ll see why.

The Uncertainties of Global Exposures

bpedroso — Fri, 07 Oct 2011 18:44:23 +0000

A property and casualty insurance company with clients in 190 countries needs to be able to respond effectively to the ever-evolving nature of global risk. At the 2011 MarketScout Entrepreneurial Symposium in Dallas, Texas, David Bresnahan, president of Lexington Insurance Company spoke with Insurance Journal about some of the challenges that companies with global operations face. He says insurers like Lexington, which has locations in 190 countries, must have an innovation-focused culture in order to be able help their customers negotiate the uncertainties that come with changing worldwide exposures.

Turning Ideas into Reality

bpedroso — Thu, 06 Oct 2011 19:25:58 +0000

What is an entrepreneur? The exact characteristics that comprise an individual with the ability to bring new ideas to the marketplace and foster their success may be difficult to define.
But it’s not much of a stretch to recognize that Richard Kerr, chairman and CEO of the electronic insurance exchange MarketScout, CEO of Bermuda-based Monster Insurance Co., co-founder and chairman of MarketScout Wholesale (MSW), and founder of the Entrepreneurial Insurance Symposium and the Entrepreneurial Insurance Alliance has significant expertise in turning innovative ideas into reality. In short, he is an entrepreneur.
In an interview with Insurance Journal’s Stephanie Jones, Kerr shares his thoughts about innovation and entrepreneurship, as well as his vision of future trends in the distribution of property and casualty insurance products.

Program Management: An Alignment of Interests

bpedroso — Thu, 06 Oct 2011 19:00:09 +0000

QBE the Americas, a division of Australia’s QBE Group, conducts property and casualty insurance business in 10 countries. While QBE is well-established worldwide, its profile as a single unified brand is not as visible in the United States as the company would like says Rob Byler, who was appointed president of the New York-based unit’s program business in 2010.

QBE subsidiaries Praetorian and General Casualty enjoy name recognition in the United States, Byler says, and QBE now has the opportunity and the initiative in place to spread the message about the underwriting depth, the balance sheet capacity and solid performance that QBE has to offer.

At the 2011 Entrepreneurial Insurance Symposium in Dallas, Byler, who has extensive experience in program management and development, spoke with Insurance Journal about the processes involved in developing and designing successful insurance programs.

Entrepreneurial Technologists

bpedroso — Thu, 06 Oct 2011 18:50:29 +0000

This year the Entrepreneurial Insurance Alliance (EIA), sponsored by MarketScout, named Vertafore and Risk Metrics, as winners of it 2011 Entrepreneurial Award in technology. Vertafore’s WorkSmart and Risk Metrics’ Insurance 360 technology products received recognition from the EIA as being some of the industry’s most innovative concepts in technology. Each year, the EIA receives hundreds of applications for the most entrepreneurial, innovative, and new insurance concepts, but only a select few receive the honor of receiving an award at the MarketScout annual Entrepreneurial Insurance Symposium. In this interview with Insurance Journal, Vertafore’s Susanna Morgan and Risk Metrics’ Kevin McCarthy explain their innovative ideas in insurance technology, and what WorkSmart and a new version of Insurance 360 promise to deliver for the industry.

Thinking Globally, Operating Locally

bpedroso — Mon, 03 Oct 2011 23:25:53 +0000

All insurance is regional, according to conventional wisdom, so maintaining strong local relationships is more important than ever in an increasingly global marketplace. As president of field operations for Navigators Management Company and former president of Lloyd’s North America, few understand the need to balance regional and global perspectives better than LoriAnn Lowery-Biggers. To successfully bring products and services to market that meet the particular needs of clients worldwide means being able to communicate intelligently on a global platform while realizing that execution and implementation occurs at the local level. Lowery-Biggers, who recently spoke at the 2011 MarketScout Entrepreneurial Symposium in Dallas, Texas, says carriers that are willing to take calculated risks and don’t shy away from innovation will be among those that thrive going forward.

Triage Nurses Cut Costs in Workers’ Comp

bpedroso — Mon, 26 Sep 2011 21:47:04 +0000

What if a business could lower its workers’ compensation claims costs by as much as 30 percent by simply taking care of the injured worker at the onset of injury? That’s exactly what some businesses have done after using triage services provided by Company Nurse, an innovative firm offering the services of a 24/7 triage nurse hotline for injured workers. Unlike a nurse case manager, triage nurses enter the workers’ comp injury process at the front-end of a claim. This early intervention is delivering good results for businesses, the insurance industry and of course the employee, says Paul Binsfeld, founder and CEO of Company Nurse. After years of working in workers’ compensation, Binsfeld continued to see a lack of compassion for injured workers. He envisioned an environment that would take better care of the injured worker, while leading to better cost control outcomes. His plan is working. In just over four years, Company Nurse has grown more than 200 percent, and saves employers that use triages saves 15 percent to 30 percent on workers’ comp costs in the first year alone. Binsfeld, who recently spoke at the 2011 MarketScout Entrepreneurial Symposium in Dallas, Texas, says the idea to create Company Nurse was just the right thing to do. In this interview, he shares his view on the triage injury concept and how it’s making a difference for workers, employers and the workers’ comp industry.

PURE Innovation

mtolk — Fri, 16 Sep 2011 23:00:41 +0000

During his 25-year career in the property/casualty insurance business, Ross Buchmueller has specialized in protecting the assets of wealthy clients. So it was a natural progression when he founded PURE, a six-year-old reciprocal insurance company that operates in the high net worth market niche. In an interview with Insurance Journal, Buchmueller describes the process of taking PURE from idea to execution, and discusses the entrepreneurial spirit that is vital to the insurance industry.

Lloyd’s Chairman Lord Peter Levene on Reinsurance, the U.S. Market and Some Future Plans

bpedroso — Fri, 16 Sep 2011 18:15:57 +0000

Lord Peter Levene talked to the IJ on his balcony at the Hotel de Paris. His reign as Lloyd’s Chairman has been pivotal in reestablishing its insurance industry preeminence. He pushed through changes that transformed Lloyd’s: contract certainty, electronic claims processing, establishing a franchise board that assures underwriting discipline, annual accounting and geographical expansion.

The Integral Part Played By Reinsurers

bpedroso — Mon, 12 Sep 2011 10:00:19 +0000

In this interview with Insurance Journal’s Charles Boyle, Jerry Sullivan, the head of the Sullivan Group, explains how reinsurance operates, and why it is such an essential component of the insurance industry.