Market Forum
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Emerging Risks at Lloyd’s
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 [...]
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The Lloyd’s Market
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 [...]
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A View From the HUB
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 [...]
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Does Innovation Miss the Mark?
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. [...]
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The Uncertainties of Global Exposures
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 [...]
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Turning Ideas into Reality
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 [...]
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Program Management: An Alignment of Interests
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 [...]
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Entrepreneurial Technologists
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 [...]
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Thinking Globally, Operating Locally
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 [...]
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Triage Nurses Cut Costs in Workers’ Comp
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 [...]
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PURE Innovation
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 [...]
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Catastrophe Models Don’t Tell Entire Story, Says Pioneer Clark
Karen Clark, who pioneered catastrophe modeling for property/casualty insurers, thinks insurers, rating agencies and regulators have become over-reliant on the models. The models are great tools but they are not always the best tool for all purposes and do not give the complete picture. Other approaches must also be used, says the consultant who now [...]
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Markets in Motion: Management Liability Coverage
Management liability programs, which include employment practices liability, directors and officers liability, and errors & omissions coverage, have emerged as a crucial safety net for businesses, especially in the wake of the financial crisis. In this edition of Markets in Motion, Hiscox and Markel discuss their new management liability programs and what exposures insureds face [...]
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Chartis Targets Small Businesses for Growth Opportunities
Chartis has worked particularly hard in the last several years on building insurance programs that target very specific areas of business. One of those areas has been small to mid-size businesses. Paul Boris, program manager for Chartis Growth Enterprises, talks with Insurance Journal about what they are doing to help small businesses grow and what [...]
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W.R. Berkley: Economic Recovery Depends on Country’s State of Mind
Economic recovery in the United States is now very dependent on the state of mind of the American public and its business leaders, according to William R. Berkley, founder, chairman and CEO of W.R. Berkley Corporation.
Berkley, a keynote speaker at the National Association of Surplus Lines Organizations (NAPSLO) annual convention in Atlanta, said that the [...]
Featured
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Lobbyist Norwood Looks Ahead to 2012 in Legislature
John Norwood, principal of Norwood & Associates, has a career in political work dating back to the early 1980s, and he’s one of the state’s best known lobbyists in the insurance and financial services sectors. Norwood talked about workers’ compensation, and other legislation and regulation matters that the insurance industry will face in 2012, including [...]
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Norwood on Workers’ Comp
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 [...]
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Lobbyist Norwood Analyzes Consumer Watchdog Legislation
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 [...]
Popular
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Entrepreneurial Technologists
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 [...]
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How Insurance Distribution Is Changing
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 [...]
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Interesting Times in Medical Liability
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 [...]
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Pat Ryan Asks, ‘Are You Happy?’
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 [...]
Random
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Fast Food Chain Battles Fraudulent Claims
Based in San Diego, Jack in the Box Inc. was founded in 1951 and is the first major fast-food chain that started as a drive-thru. Today, it has approximately 43,000 employees with more than 2,200 quick-serve restaurants in 18 states. In this episode, Jack in the Box deputy general counsel of 12 years, [...]
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Los Angeles “I” Day Interview with Louis Gideon
National Editor Andrea Ortega-Wells and Louis Gideon, vice president of sales for U.S. Plate
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A Glass Half Full
In this episode of On Point, Peter and Rick are joined by Lisa Parry Becker, VP of William B. Parry & Son Ltd., based in eastern Pennsylvania. “It’s a great time to be an agent,” Lisa says. She acknowledges the challenges presented by the tough economy and the continuing soft market but also sees this [...]
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Tsunami – Sri Lanka
Amateur camcorder footage of the 2004 tsunami disaster. Upper balcony view of Sri Lanka hotel
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