Florida Insurance Chief: 85% Medical Ratio Will Hurt Agents
Federal healthcare reforms call for major group health insurers to be held to an 85% loss ratio while insurers in the small and individual markets would have to achieve 80%. The government has some flexibility in setting the final ratios. Florida Insurance Commissioner Kevin McCarty is among those who thinks the ratio needs to be carefully defined and possibly lowered to ensure availability of sufficient products to consumers and a role for insurance agents.
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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 [...]
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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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Wisconsin Dilweg: State Regulation Hangs Tough in Economic Crisis
Wisconsin Commissioner Sean Dilweg has been heading up the Insurance Department for barely two years, but he has strong opinions on the AIG bailout, the debate on state versus federal regulation, a national catastrophe program proposal and more. He also believes having an agent’s license is a privilege and he takes his responsibility to the [...]
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The Best Practices of Today’s Agencies
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 [...]
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