If your agency is looking to manage disasters and catastrophes from an errors and omissions (E&O) perspective, could performing account reviews for your clients be just the answer? Absolutely. As many agencies discovered, account reviews are a tremendous tool that …
When it comes to car crashes there’s a link to one’s gender – at least if you’re young. Gender is often related to what type of severe or fatal crash a young male or young female driver will be involved …
In 2013, net income more than doubled from the $1.57 billion reported in 2012, according to the “2013 U.S. Surplus Lines Market Review” published by A.M. Best. Not resting on their laurels, surplus lines carriers are continuing to target traditional …
During my more than 20-year career in the insurance industry, I have spent hours working with my colleagues to prevent hard-earned, front-end revenues from leaking out the back door due to errors and omissions. When a claim is denied, we …
Tower Group International must deal with more ratings downgrades from A.M. Best, spurred by its soaring net losses and uncertainty over whether it can carry its debts through an intended merger with ACP Re. A.M. Best said its revised ratings …
When an insurance agent is sued for professional negligence, a question arises as to whether the breach of the agent’s duty of care requires the testimony of another insurance agent or broker who testifies that the agent breached the professional …
Workers’ compensation benefits rose by 1.3 percent to $61.9 billion in 2012, while employer costs rose by 6.9 percent to $83.2 billion, according to a report released last month by the National Academy of Social Insurance (the Academy). “This growth …
Uh Oh, Yogi “The new maps show how Yellowstone has had a relative increase in the hazard.” —University of Utah geophysicist Bob Smith said a U.S. Geological Survey report indicates a slightly greater earthquake hazard in Greater Yellowstone than previously …
An organization’s biggest investment is in its human capital. Employees are the key to any successful business. Properly engaging staff can make a significant difference in a company’s productivity. Given the state of the industry – with nearly half of …
I’ve had many independent agents (IAs) vent, fume, exclaim, yell, scream, curse and express total exasperation at losing an account because a captive or direct writer undercut the price while promising speculative coverage, insuring property at 80 percent (or less), …
