Buying insurance has been compared to having a root canal and betting with pirates. It’s been called confusing and boring. More than a few have said they’d rather listen to nails on a chalkboard than sit through an insurance pitch. …
OneBeacon Insurance Group has been dealt a ratings outlook warning from Fitch Ratings and an outright downgrade from Moody’s Investors Service, stemming from substantial adverse reserve development in the 20914 fourth quarter and fiscal year. Moody’s downgraded OneBeacon’s U.S. Holdings …
Agent-broker profitability reached 21 percent for 2014, a new record for the Reagan Consulting Organic Growth and Profitability (OGP) survey that began tracking profitability for agencies in 2008. That median profitability for EBITDA (earnings before interest, taxes, depreciation and amortization) …
All but four states and the District of Columbia address the insurance carrier’s duty to notify an insured of its renewal plans. This is known in insurance circles as the “conditional renewal” notification requirements. Conditional renewal statutes and administrative rules …
Property /casualty insurance executives believe that predictive modeling has become an essential or very important driver of improved performance over the past six years and they are broadening their use of the application into new areas of operation, according to …
Competition among property/casualty insurance carriers and the flow of capital into the industry are continuing to drive down rates in most U.S. commercial lines and conditions are particularly favorable for clients with attractive risks and good loss histories, says global …
Multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) has been used for various business valuations, investment decisions, and loan arrangements for many generations so there is nothing new about it (barring the somewhat creative derivatives companies deep in …
In today’s digital world of constant communication through methods like email, texting and social media, consumers expect 24/7 access to everyone, including their insurance agent. And while this access can increase business for agents, it can also create exposures if …
While commercial insurers have traditionally relied upon insurance brokers to manage customer relationships, large company risk managers are looking for both parties to work together to meet their needs, according to a new study. While brokers are the most frequent …
Giant auto insurer Geico plans to roll out its new ridesharing insurance policy across the country, according to the company’s CEO. “We want to insure Uber drivers,” Geico CEO Tony Nicely told Liz Clamanin of Fox Business News in a …
