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Podcast Highlights

Lloyd’s on 2010 Results, Japan, What’s Ahead

Luke Savage, director of Finance, Risk Management and Operations for Lloyd’s of London, speaks with IJ’s Charles Boyle about Lloyd’s financial results for 2010, that reflected the year’s natural catastrophes. Savage says it is too early to tell whether the recent catastrophes might spark an increase in reinsurance rates.

Cyber Insurance for the Uninsurable

When the University of California sought cyber liability insurance, it found no one wanted to write the coverage. Chief Risk Officer Grace Crickette shares how her two years of persistence paid off in finding a Lloyd’s syndicate that reverse underwrote the coverage, paying claims only as long they meet certain standards.

Got Ya!

Special Report: Top 10 Innovative P/C Insurance Products

InsuranceJournal.com’s April Fool’s Day story on innovative insurance products generated lots of buzz and caught more than a few people off guard, at least at the beginning. It also spawned more than one new coverage.

Bill wrote to inform us:

We sell loss of use coverage for cell phones. The policy indemnifies the Named Insured for losses due to a cell phone running out of battery. The insured must prove the loss occurred because they were unable to use your phone. Coverage included reimbursement for gas or taxi when family members cannot contact you for pickups of dinner or grocery items. Coverage is broad enough to include mental anguish due to drop calls and no coverage areas.

Scott also shared:

We’ve been extremely successful with the Homeworkers’ Compensation and Home Business Interruption programs. We found theses to be great additions to our program for Pet Peeve Coverage. Pet Peeve Coverage is a reimbursement product for expenses such as humane society fines for dogs that escape and get caught, obedience training for dogs that refuses to come when called, upholstery charges for when your cat uses your favorite chair as a scratching post and other expenses related to erratic pet behavior.

Shutdown

Effect of Federal Government Shutdown on Insurance Industry

The most commented upon story in the past few weeks was one on what effect a shutdown of the federal government might have on the property/casualty industry.

The nation dodged a bullet and the shutdown never happened. But the story might be worth bookmarking for future reference. There are more budget battles ahead.

Sales IQ Blog

From Your Sales IQ Blog by David Connolly:

People are all wired differently based upon parenting, education and life experiences. Our perception is unique. How we think and react to ideas, input and stimulus is unique. We all, however, are very much the same, and share a great deal in common. This blog entry explores 6 universal truths about people and how they affect the sales process. No. 1: People generally like people like themselves.

Read More: www.insurancejournal.com/blogs/

Note: When we transferred data from our old Web site to our new one, Connolly’s previous blog entries got left behind by mistake. Insurance Journal regrets the error and inconvenience.

Topics Lloyd's

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