News
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Flood Fiasco
On Feb. 28, the National Flood Insurance Program lapsed for several days because Congress failed to pass reauthorization. That was just the latest issue for this program that is becoming a major concern for independent agents. Their worries: insufficient coverage, insufficient limits and insufficient leadership in Washington when it comes to this key program. In [...]
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Motamed Settled In As CNA CEO
After 30 years at Chubb Corp, Thomas Motamed joined CNA Financial in January, 2009 as chairman and CEO. In this interview with Insurance Journal’s Andrew Simpson, Motamed talks about the changes he has made at CNA and what he sees down the road.
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Economy Has Long Way to Go, CNA Chief Says
Recent property/casualty insurer financials showed improvement but Thomas Motamed, CNA Financial’s CEO and chairman, isn’t jumping for joy yet. Investment income is down and underwriting results aren’t improving, he says in this interview with Insurance Journal’s Andrew Simpson. That means companies like his have to stress pricing and underwriting discipline even though the economy continues [...]
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P/C Insurers Eye Healthcare Reform Spillover Effects
The ongoing debate over health care reform in Congress is not just a concern to health insurers. Property/casualty insurers, too, are watching for any spillover effects from provisions that have been considered, according to Dr. Robert Hartwig, president and economist at the Insurance Information Institute.
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States, Insurers Grapple with Subsidized Property Insurance Markets
The exposure of various states’ residual markets for property insurance has grown from $55 billion to nearly $700 billion in the last two decades. Dr. Robert Hartwig, president and economist of the Insurance Information Institute, discusses how this has become a serious problem, particularly in Florida, for both public officials and private industry.
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Another Tort Crisis Is Coming, Warns P/C Insurance Economist
When Democrats took control of Congress, an era of tort reforms ended, according to Dr. Robert Hartwig, president and economist at the Insurance Information Institute. In this interview with Insurance Journal’s Andrew Simpson, Hartwig warns that as a result of current politics favoring trial attorneys, another tort crisis is on the horizon.
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Insurance Opportunities In the New Decade
The recession has taken its toll on many traditional businesses. But the good news is that, as these businesses recover along with the economy, there will also be opportunity for insurers to address the needs of some new growth industries over the next decade, according to Dr. Robert Hartwig, economist with the Insurance Information Institute. [...]
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Insurers Can’t Count on Investments, Advises III’s Hartwig
Property/casualty insurers’ investment income has been down and it isn’t going up any time soon, according to Dr. Robert Hartwig, president and economist for the Insurance Information Institute in this interview with Insurance Journal’s Andrew Simpson. How will insurers perform and price products in this environment and will regulators take note? Hartwig also discusses the [...]
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Insurance Regulators Take On Climate Change
Climate change is in the news and the insurance industry and those who regulate it are very much in the middle of the debate, as evidenced by the activity at the recent meeting of the National Association of Insurance Commissioners in San Francisco. Insurance Journal asked Commissioners Joel Ario of Pennsylvania and Mike Kreidler of [...]
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Economic Recovery Is Real But Uneven: Insurance Economist
Dr. Robert Hartwig, president and economist at the Insurance Information Institute, is the “go-to guy” when it comes to understanding economic and policy trends that affect the property and casualty insurance industry. He’s had a busy year explaining trends to insurance groups around the country. In this interview with Insurance Journal’s Andy Simpson, Dr. [...]
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P/C Insurance & the Economic Recovery
This recession certainly has kept economists busy. None busier, perhaps, in the insurance industry, than Dr. Robert P. Hartwig, CPCU, president and economist at the Insurance Information Institute. He has spent the last year or two explaining economic indicators and their impact on the property / casualty insurance industry. Insurance Journal’s Andy Simpson caught up [...]
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Washington Reforms Depend on Agents, State Regulators
Health care reform and a financial services regulation overhaul are on the fast track in Congress and with the Obama Administration. The nature of the reforms will depend not only whether independent agents can get their message across to lawmakers but also on the credibility of state regulators, according to Charles Symington, senior VP for government [...]
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How Main Street Agents Get Heard in Washington
It’s a new political climate in Washington. Charles Symington, senior VP for government affairs for the Independent Insurance Agents & Brokers of America (Big I), discusses how independent agents are working with Congress and the Obama Administration amid the AIG and Wall Street scandals. This is part of an interview with Insurance Journal’s Andrew Simpson [...]
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Ethics in Today’s Insurance Industry
Today’s financial headlines and bailouts raise questions about the state of ethics in the financial services industry and in insurance. Marvin Kelly, president of the CPCU Society, whose members must honor a code of ethics, thinks the industry does a lot of things right but this doesn’t make the news.
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Republican Woes and Insurance Agents in Washington
Republicans have limited power to influence the agenda in Washington these days on health care reform, the future of insurance regulation and other issues of concern to independent agents, notes Bob Rusbuldt, CEO and president of the Independent Insurance Agents of America (Big “I”).
Featured
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Young Agent, Young Owner
Amy Bryan, owner of Bryan Insurance Agency in New Windsor, N.Y. opened her own independent insurance agency at the age of 22. She had no carrier appointments and no customers when she launched her agency in 2004, ut it didn’t take long for Amy to attract quality carriers and customers. Now, at just 28 [...]
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Creating Online Connections
To the 77 percent of independent insurance agencies that don’t have a social media presence, creating a profile and trying to form “friendships” via a computer can be daunting. Once you get online, however, tools such as blogs, Facebook, LinkedIn and RSS feeds actually can help an agency build more thoughtful relationships with other agents [...]
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London Calling
London Based specialty insurer Hiscox, which launched a significantly expanded US presence in 2006, saw its gross profits reach record levels of 481 million dollars last year. Recently, the company’s chief underwriting 0fficer, Rob Childs, sat down to discuss the profitability for the company and what he sees as the outlook and obstacles for [...]
Popular
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Insurance Risks at Gatorland Theme Park
Opened in 1949, Gatorland is central Florida’s oldest theme park. The 110-acre attraction is home to a multitude of animals, including the powerful alpha predators that are the park’s namesake.
With over 100 employee roles, ranging from custodial and food handling to gator wrestling, the potential for injury is great; however, the incident of harm at [...] -
From Vine to Wine
Don Reha is the winemaker for Orfila Vineyards and Winery in Escondido, California where he oversees the winemaking process from vine to bottle. In this episode of Watching the Risks, Reha talks about insuring and protecting the product and business income through its various stages.
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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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CEO Motamed Says Changes Underway at CNA
Thomas Motamed joined CNA Financial as Chairman and CEO in January, 2009 after 30 years at Chubb Corp. In this interview, he talks about the changes he has in store at CNA.
Random
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Chris Taylor, Zurich / IIABA 2003 InfoXchange
Interview with Zurich Senior VP, Chris Taylor, at the IIABA 2003 InfoXchange
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Looks Like a Moonscape
Incredible view from ocean in Carlsbad looking south towards San Diego
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NAPSLO Midyear 2004 David Price Interview
Mr. Price offers advice to agents and brokers submitting risks to MGAs. He suggests getting
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The Big ‘I’ on Capitol Hill, Interview with IIABA’s Bob Rusbuldt
Part 2: TRIA’s Troubles and Flood Reforms
In Part 2 of a 3-part interview with
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