Monthly Archives: <span>January 2007</span>

Proactive agents help contractors and subcontractors reduce comp costs

Transitional duty assignments, return-to-work goals, regular communication, information gathering are all part of a solid program When helping contractors and subcontractors reduce their workers’ compensation costs, focus on four key elements: accurately determine the cause of the high costs, improve …

Study: 20% of customers consider switching insurers after collision

Nearly one out of every five customers considers switching insurance companies after a collision claim, according to a new the J.D. Power study. “Filing an insurance claim is a critical moment of truth that shapes a customer’s overall perception of …

Demotech named official Insurance Journal Research Partner

Financial analysis and actuarial services firm Demotech, Inc. has been designated an official Research Partner of Insurance Journal. The Columbus, Ohio-based company will provide research, actuarial and statistical support for the Insurance Journal editorial team and participate in joint reports …

Homeowners win key water v. wind Katrina claims case against State Farm

Insurer then settles next case without going to trial; U.S. Rep. Taylor calls for Congressional probe of industry claims practices In a Hurricane Katrina claims decision watched closely by the insurance industry, a federal judge in Mississippi ruled that State …

Billions at stake as Supreme Court weighs credit notice standards

Two large insurers defended their decision not to tell customers about their less-than-perfect credit, as the Supreme Court debated the legal standard for finding the companies liable under federal law. During an hour of argument, several justices seemed taken aback …

Pricing discipline key to P/C insurers’ repeat performance in 2007

>Insurers delivered strong results for 2006; now the question becomes can they remain disciplined? Property casualty insurance industry earnings may have peaked in 2006 but that doesn’t mean 2007 will see a reversion to reckless price cutting and relaxed underwriting, …

Try selling insurance like it’s overpriced spaghetti

Developing an insurance proposal for a prospective insured is a costly endeavor. Even a liability-only auto quote requires a major pre-investment in advertising, automation, carrier relations, education, licensing, office space, phones, staff, supplies, and more. Everyone in the office must …

Commercial insurers’ stocks reflect 4th quarter profits, calm storm season

Stock Prices: Commercial insurers breathed a sigh of relief in the fourth quarter as the 2006 hurricane season officially ended with only minor losses, a dramatic contrast from a year ago. Insurers’ stock prices reflected the calm hurricane season, benefiting …

Cyber liability market is older, wiser, smarter and still growing

Introduced 10 years ago, cyber liability insurance has become a much-discussed and popular coverage Beginning a New Year provides an opportunity to reflect on challenges and threats in the insurance industry, and there is one trend that will undoubtedly continue …

Don’t be guilty of ignoring the lawyers’ E&O marketplace

Plentiful programs target law firms based on size, areas of practice, geographic location and clams history Every day hundreds of thousands of lawyers throughout the U.S. provide legal advice, depose witnesses, prepare and file various legal documents, negotiate contracts and …