During college I took several aeronautic ground classes along with actual flying lessons. Our instructors hammered safety and preparedness into our heads, both while in class and, especially, while flying. The reason: flying (and landing) can be dangerous if you …
Insurance markets have evolved over the years to become increasingly global, interconnected, and convergent — a trend that will undoubtedly continue in years to come. The National Association of Insurance Commissioners (NAIC) is committed to coordinating with our regulator colleagues …
If you could grow your business simply by marketing to your existing customers, making money would be a cakewalk. But to generate new revenue, you have to win over the customers you’re not getting. Who are these mystery customers? How …
Approximately one year ago, on Sunday, May 22, 2011, at about 5:30 p.m., Joplin, Mo., was devastated by a massive EF 5 tornado that at times was 1 mile wide and traveled on the ground for more than 20 miles. …
A milestone in the modernization of the London insurance market was reached on March 5, when the electronic processing of endorsements using ACORD data messages was extended to all classes of business. The endorsements initiative is part of a market-wide …
For more than three years, a handful of insurance regulators and global warming activists have been trying to prod the insurance industry into taking unspecified action to address the “risks” associated with climate change. Their approach has a number of …
Peering across the market, it’s easy to see the telltale signs of a market in transition, the completion of one cycle and the beginning of another. This time around, dusting off the old underwriting “hard market” play book may be …
Colorado Gov. John Hickenlooper and Pinnacol Assurance, the state-chartered workers’ compensation fund, made the right decision earlier this month in deferring further consideration of plans to restructure Pinnacol. There remains considerable misunderstanding about the future of Pinnacol, the state’s government-sponsored …
We frequently hear people ask, “When is the next hard market going to come?” And by that they typically mean double-digit increases in premium growth for a sustained period of time. Of course, no one knows. But perhaps more importantly, …
For months now, Director Michael McRaith and his staff at the Federal Insurance Office (FIO) have been doing something rare for a federal agency — they’ve been listening. In meetings, requests for comment, and even a symposium at the Department …
