Best's Review articles from August 2008

Best's Review archives from August 2008

Rendez-Vous buzz.(From the Editor's Desk)
August 1, 2008... At Les Rendez-Vous de Septembre, reinsurers will begin to negotiate their January 2009 renewals while keeping their eyes on two hard-to-predict issues--the global economy and how the hurricane season plays out. Reinsurers undoubtedly will...

Quote/unquote.(Comment)(briefs)(Brief article)
August 1, 2008... Excerpted from BEST WEEK * U.S./Canada and BEST WEEK * Europe "Financial regulation in the U.S. is becoming increasingly antiquated, inefficient and potentially irrelevant relative to the advances that you see in other regulatory...

Clarification.(Correction notice)
August 1, 2008... Thomas Marra is president and chief title was listed incorrectly in July's cover operating officer of The Hartford. His story "Standing the Test of Time."

Florida, Berkshire arrange hurricane fund backstop.(Briefing)(Berkshire Hathaway Inc.)(The Florida Hurricane Catastrophe Fund )(Brief article)
August 1, 2008... The Florida Hurricane Catastrophe Fund will pay Berkshire Hathaway (A.M. Best # 18343) $224 million in return for the Warren Buffett-owned company's promise to purchase $4 billion in state bonds should a hurricane cause major damage to the...

Worth repeating.(Quotation)
August 1, 2008... "I'm extremely angry and upset about it." --Florida State Sen. Steven Geller, after an NCOIL subcommittee voted down his resolution calling for federal monies for state catastrophe funds. Geller co-chairs the subcommittee.

Worldwide premium up 3.3% in 2007.(Swiss Re)(Brief article)
August 1, 2008... The world's insurance premium income grew 3.3% in real terms in 2007, reaching $4.061 billion, primarily driven by the life business in industrialized and emerging markets, and to a lesser extent by the nonlife business in the emerging markets,...

Outmatched.(California Burning)(Brief article)
August 1, 2008... [ILLUSTRATION OMITTED] OUTMATCHED: A firefighter is dwarfed by an out-of-control fire in the Santa Ynez Mountains near Goleta, Calif., last month. More than 2,000 wildfires, most ignited by lightning, destroyed 101 homes in the Golden...

Rell vetoes bigger health plan.(Brief article)
August 1, 2008... Connecticut's Republican governor vetoed a bill that would have extended the reach of the Connecticut Employee and Retiree Health Insurance Program, saying it could have led to big costs to taxpayers. [ILLUSTRATION OMITTED] The bill...

Panel issues U.K. flood report.(Report)(Brief article)
August 1, 2008... The investigation into the catastrophic flooding that hit parts of England and Wales last summer has found numerous areas where improvement will help avoid future disaster. [ILLUSTRATION OMITTED] Chairman of the investigations panel...

Best's Review's stats & numbers.(Statistical table)(Survey)(Brief article)
August 1, 2008... BEST'S REVIEW'S STATS & NUMBERS Doing Things Right Insurers' contact centers performed well in a recent national survey of clients' dealings with customer service representatives (CSRs). National...

Property/casualty.(Property/Casualty)(Brief article)
August 1, 2008... PROPERTY/CASUALTY insurance trade groups are pleading with the U.S. Patent and Trademark Office against using patent laws to prohibit aftermarket auto repair parts. The groups claim the growing aftermarket of sheet metal and plastic exterior...

Pay-as-you-drive.(Property/Casualty)(Brief article)
August 1, 2008... PAY-AS-YOU-DRIVE pricing would be available to California auto insurance consumers under a bill before the state Senate's banking committee. A.B. 2800, which cleared the state Assembly in May, lets insurers implement voluntary, mileage-based...

The interstate.(Regulatory)(The Interstate Insurance Product Regulation Commission )(Brief article)
August 1, 2008... THE INTERSTATE Insurance Product Regulation Commission has welcomed Louisiana and South Carolina to its ranks, extending the compact's reach to cover 54% of nationwide insurance premium volume. IIPRC now represents 33 jurisdictions. It helps...

P/C's profits plunge in 1Q.(By the Numbers: Recently published Special Reports from A.M. Best Company)(Property and casualty insurance industry)(Statistical table)(Brief article)
August 1, 2008... The U.S. P/C industry's net profit sank 45% to $9.3 billion in the first quarter of 2008, mostly due to premium erosion, deteriorating underwriting results, higher catastrophe-related losses and weaker investment returns. The sector also was...

L/H Impairments bounced in 2007.(By the Numbers: Recently published Special Reports from A.M. Best Company)(life/health insurance industry)(Report)(Brief article)
August 1, 2008... The life/health industry's financial impairment results for 2007 represent a bounce off exceptionally low results in 2006. The impairment trend may have reached the bottom of the trough, due to a deteriorating economy. (A.M. Best Special...

Industry 'Cap' Down by 22%.(By the Numbers: Recently published Special Reports from A.M. Best Company)(Statistical table)(Brief article)
August 1, 2008... Industry 'Cap' Down by 22% Publicly traded insurance-related organizations followed by the A.M. Best stock indexes collectively lost $396 billion in market capitalization since the start of 2008, though some gained market cap during...

Meetings.(Briefing)(Brief article)(Calendar)
August 1, 2008... Aug. 12-14 Vermont Captive Insurance Association: Annual Conference, Burlington, Vt. Web site: www. vcia.com Sept. 3-5 LIMRA International: 2008 Group Benefits Leadership Conference, Chicago Web site: www.limra.com Sept. 4-6 National...

Examinations are fruitless.(100 YEARS AGO in Best's Review)(Report)(Brief article)
August 1, 2008... The examinations of a certain fire insurance company by multiple insurance departments did nothing to expose the company's fraudulent business practices, according to Best's Review. [ILLUSTRATION OMITTED] Best had previously exposed...

Risk modelers.(Risk Modeling)(Brief article)
August 1, 2008... RISK MODELERS at AIR Worldwide estimate that the insured value of properties in coastal areas of the United States grew at a compound annual rate of just over 7% during the past three years. If trends continue, AIR said the growth rate will...

West Virginia.(Workers' Comp)
August 1, 2008... WEST VIRGINIA'S workers' compensation market opened to competition as scheduled July 1, with 163 insurers approved to participate. All 163 were "new companies"--those who had never written any other type of insurance in West Virginia, said a...

Consumer fraud.(Auto Insurance)(Brief article)
August 1, 2008... CONSUMER FRAUD against British auto insurers in 2007 totaled 260 million [pounds sterling] ($516 million), or 5 million [pounds sterling] ($9.9 million) a week, according to the Association of British Insurers. Insurers received 24,000...

Insurance key to nuclear growth.(Briefing)(Brief article)
August 1, 2008... It is among the thorniest, most unquantifiable of all risks. But with energy prices soaring to record highs, the case for nuclear power is receiving renewed public attention and sparking significant political debate for the first time in...

Cat losses already surpass last year.(Briefing)(Catastrophe losses)(Brief article)
August 1, 2008... Catastrophe losses in the United States during the first haft of 2008 have already eclipsed the total amount of losses recorded last year. An "unprecedented" number of tornadoes, record floods in the Midwest and wildfires in California are...

Lightning striking again.(Briefing)(Brief article)
August 1, 2008... Insured losses from lightning are up since 2004, mostly because policyholders have more expensive electronics getting zapped in storms. Insured losses due to lightning: 2007:$942.4 million 2004: $735.5 million Average cost per...

National Atlantic Holdings leads gainers as the AMBG declines 24.78% year-to-date.(Briefing)(A.M. Best's Global)(Statistical table)
August 1, 2008... A.M. Best's stock indexes are comprised of 178 publicly traded, insurance-related organizations that are listed on major global stock exchanges, and have an interactive Best's Rating. The exceptions are the insurance brokers indexes (AMBUB and...

Insurance sector stock performance and momentum.(Briefing)(Brief article)
August 1, 2008... The chart compares return of the 15 A.M. Best Insurance Stock Indexes week over week and year over year. Each quadrant describes the indexes' performance relative to the Dow Jones Industrial Average. [GRAPHIC OMITTED]

Insurance jobs.(Briefing)(Statistical table)(Brief article)
August 1, 2008... U.S. insurance industry payrolls dropped 4,500 jobs from May to June, snapping three consecutive months of increased employment in the sector. Overall U.S. nonfarm payroll employment fell by 62,000 jobs while the unemployment rate held steady...

Career wise.
August 1, 2008... Question: What characteristics and skills do chief executive officers look for when identifying future leaders? There are many characteristics and skill sets that differentiate those that ascend to leadership roles within an organization...

AXA Equitable Life Insurance Co.(Life)(Tracey Gray-Walker and Gary Hirschkron appointed)(Brief article)
August 1, 2008... TRACEY GRAY-WALKER has been named chief diversity officer for New York-based life insurer AXA EQUITABLE LIFE INSURANCE CO. She most recently was a vice president of business development, a post which had her in charge of the company's...

Guardian Life Insurance Co. of America.(Life)(K. Rone Baldwin, Robert Broatch and Jim Pogue appointed)(Brief article)
August 1, 2008... Three senior officers with the GUARDIAN LIFE INSURANCE CO. OF AMERICA are assuming new roles, and a fourth officer has been named to the company's board of directors. K. RONE BALDWIN, an executive vice president with the New York-based...

Cigna names David M. Cordani president, chief operating officer.
August 1, 2008... David M. Cordani, president of Cigna HealthCare, has been named president and chief operating officer of Cigna Corp. [ILLUSTRATION OMITTED] In his new position, Cordani, 42, will be responsible for Cigna's group disability and life...

Conseco Inc.(Life)(Matthew Zimpfer appointed)(Brief article)
August 1, 2008... CONSECO INC. has named MATTHEW ZIMPFER executive vice president and general counsel. Zimpfer had been serving as interim general counsel for the Carmel, Ind.-based multiline insurer. Prior to his tenure with Conseco, Zimpfer served as the...

Massachusetts Mutual Life Insurance Co.(Life)(Brief article)
August 1, 2008... MASSACHUSETTS MUTUAL LIFE INSURANCE CO. has named BOB CASALE senior vice president. Most recently he served as the deputy chief information officer for the Springfield, Mass.-based insurer. A corporate vice president since 2007, Casale has...

Travelers Cos.(Property/Casualty)(Brian Maclean appointed)(Brief article)
August 1, 2008... TRAVELERS COS. has promoted Chief Operating Officer BRIAN MACLEAN from executive vice president to president. MacLean, who has been overseeing the St. Paul, Minn.-based multiline insurer's business units, will retain his COO post.

Chubb Corp.(Property/Casualty)(John Degnan promoted)(Brief article)
August 1, 2008... CHUBB CORP. promoted JOHN DEGNAN to succeed THOMAS F. MOTAMED as vice chairman and chief operating officer. Degnan, who was Chubb's vice chairman and chief administrative officer, is a former attorney general of New Jersey who joined Chubb...

ACE.(Property/Casualty)(Matthew Shaw appointed)(Brief article)
August 1, 2008... ACE has promoted MATTHEW SHAW, a veteran of its international operations, to chief underwriting officer of ACE GLOBAL MARKETS and chairman of ACE TEMPEST RE EUROPE. Shaw was previously the managing director of Ace Tempest Re Europe, which...

Travis MacMillian, formerly vice president for commercial lines at OneBeacon Insurance Group, has joined GNY INSURANCE COS. as president and chief operating officer.(Property/Casualty)(Brief article)
August 1, 2008... TRAVIS MACMILLIAN, formerly vice president for commercial lines at ONEBEACON INSURANCE GROUP, has joined GNY INSURANCE COS. as president and chief operating officer. MacMillian began his career with Commercial Union and CGU Insurance Co.,...

Argenta Syndicate Management Ltd.(Property/Casualty)(David Williams appointed)(Brief article)
August 1, 2008... ARGENTA SYNDICATE MANAGEMENT LTD. has named DAVID WILLIAMS as its executive director for claims and operations. Effective immediately, Williams will take up the directorship after serving as head of claims with the London-based insurance...

Benfield Group Ltd.(Agent/Broker)(Jeff Archer appointed)(Brief article)
August 1, 2008... London-based reinsurance intermediary BENFIELD GROUP LTD. has named JEFF ARCHER, a 20-year veteran of property/casualty reinsurance, as a senior vice president with its U.S. wing's client development team. Archer takes up his new post with...

AON Consulting Worldwide.(Agent/Broker)(Grace Cowan appointed)(Brief article)
August 1, 2008... AON CONSULTING WORLDWIDE has named GRACE COWAN senior vice president and the national director for its life, disability and elective benefits practice. Cowan will join the Chicago headquarters of Aon Corp's management company and human...

Marsh Inc.(Agent/Broker)(George Davies appointed)(Brief article)
August 1, 2008... MARSH INC. announced the appointment of GEORGE DAVIES to be head of its risk management practice in the United Kingdom. He was previously head of Marsh U.K.'s risk consulting practice. [ILLUSTRATION OMITTED]

NIA Group.(Agent/Broker)(Kevin W. Conboy appointed)(Brief article)
August 1, 2008... KEVIN W. CONBOY, the former chief executive officer of ACORDIA, now known as WELLS FARGO INSURANCE SERVICES, has been appointed chief executive officer of the NIA GROUP brokerage firm. STEVEN L. GROSSBERG, who served as president and CEO of...

Lockton Cos. Inc.(Agent/Broker)(Kevin Mcdaniel appointed)(Brief article)
August 1, 2008... KEVIN MCDANIEL has been named president of the LOCKTON COS. INC. office in St. Louis. McDaniel replaces WHITY MEYER, who has been named chairman. Meyer opened the St. Louis office in 1984. McDaniel was executive vice president and member of...

Partnerre Ltd.(Reinsurance/Capital Markets)(Brian Secrett appointed)(Brief article)
August 1, 2008... Bermuda-based reinsurer PARTNERRE LTD. has named BRIAN SECRETT as the chief underwriting officer for its catastrophe unit. Secrett took up his new post in the company's Pembroke, Bermuda, offices July 1. He was promoted from senior vice...

Partnerre Ltd.(Emmanuel Clarke appointed)(Brief article)
August 1, 2008... Bermuda-based PARTNERRE LTD. has tapped 14-year reinsurance veteran EMMANUEL CLARKE to head PartnerRe Global's specialty lines division, succeeding KURT ANGST, who is set to retire in December after a 40-year career. Currently the head of...

Willis names Margo Black Brazil reinsurance chief.(People in Insurance)(Brief article)
August 1, 2008... Willis International Holdings has named Margo Black the chief executive officer for its international division's reinsurance office in Brazil. [ILLUSTRATION OMITTED] Black will take up her new post with Willis International Holdings,...

Driving ahead.(SPONSORSHIP)(National Association for Stock Car Auto Racing)(Brief article)
August 1, 2008... IN MAY, AFLAC made a major announcement that it will become the primary sponsor for NASCAR's Carl Edwards, replacing Office Depot on the No. 99 Roush Fenway Racing car. [ILLUSTRATION OMITTED] Aflac, featuring Edwards and the Aflac duck...

Sanjaya on your side.(ADVERTISING)(Sanjaya Malakar)(Brief article)
August 1, 2008... [ILLUSTRATION OMITTED] FORMER SIXTH-SEASON American Idol finalist Sanjaya Malakar is again taking center stage as the newest star of Nationwide's "Life Comes at You Fast" advertising campaign. The spot is set to air later this month on...

In 2007, about three dozen auto insurers spent nearly $78.7 million to attract U.S. Hispanic consumers, according to a Hispanic Market Weekly report.(ADVERTISING)
August 1, 2008... IN 2007, ABOUT THREE DOZEN auto insurers spent nearly $78.7 million to attract U.S. Hispanic consumers, according to a Hispanic Market Weekly report. Through September 2007, nearly $58.4 million went to the four Spanish-language broadcast TV...

NAVA study: mix annuities.(SPOTLIGHT)(National Association for Variable Annuities )(Brief article)
August 1, 2008... Including a single-premium immediate annuity in a retirement portfolio not only provides guaranteed income for life, but can increase bequests to heirs as compared with a mutual fund-only portfolio using systematic withdrawals. That is a...

Policies feature travel assistance.(Employee Benefits)(Liberty Mutual Insurance Co.)(Brief article)
August 1, 2008... [ILLUSTRATION OMITTED] A new suite of travel-assistance services is now available to employees covered under Liberty Mutual group life insurance policies whenever they travel more than 100 miles from home. The services, accessible at...

Hartford enhances doctors' disability.(Employee Benefits)(Hartford Life and Accident Insurance Co.)(Brief article)
August 1, 2008... [ILLUSTRATION OMITTED] Hartford Life and Accident Insurance Co. said its new group long-term disability insurance policy for medical professionals is more affordable and adds two standard benefits. The new LTD policy provides benefits of...

Income grows as years pass.(Life)(Brief article)
August 1, 2008... AIG SunAmerica Retirement Markets has introduced MarketLock Income Plus, an optional lifetime withdrawal benefit that guarantees lifetime income will increase for up to 15 years. It automatically locks in an investor's market gains or an annual...

Symetra debuts longevity product.(Life)(Symetra Life Insurance Co.)(Brief article)
August 1, 2008... Symetra Life Insurance Co. has Munched a product that enables buyers to use a small portion of current savings to buy guaranteed income beginning late in life. The company said its Freedom Income Annuity would cost a 65-year-old client about...

AIG improves variable annuity.(Life)(ING USA Annuity and Life Insurance Co.)(Brief article)
August 1, 2008... ING USA Annuity and Life Insurance Co. has added more flexibility to the withdrawal options on its LifePay Plus variable annuity living benefit rider. Improvements include the ability to take a withdrawal during the first 10 years without...

Top retirement-related issues.(SNAPSHOT)(Statistical table)(Brief article)
August 1, 2008... Top Retirement-Related Issues Rising costs of health care 86% Inflation's impact on purchasing power 82% Reduction or end of Social Security benefits 78% Running out of money...

Data breach cover debuts.(SPOTLIGHT)(Hartford Steam Boiler Inspection and Insurance Co.)(Brief article)
August 1, 2008... The Hartford Steam Boiler Inspection and Insurance Co. has announced a new Data Compromise commercial coverage product that helps businesses respond to data breaches. Data Compromise will cover the cost of client notifications and supplying...

Disability plan for retirement.(Life)(Guardian Life Insurance Company of America)(Brief article)
August 1, 2008... The Guardian Life Insurance Company of America has enhanced its program of individual insurance that protects contributions to retirement plans should insureds become disabled. The enhancement increases monthly policy benefits to as much as...

Health insurer taps Web portal server.(Technology)(MVP Health Care Inc.)(ikaSystems)(Brief article)
August 1, 2008... Regional not-for-profit health plan MVP Health Care Inc. recently entered into an agreement with ikaSystems, which provides Web-based enterprise resource planning systems for the managed care industry. Under the agreement, MVP will implement...

New York Life site touts accessibility.(Technology)(New York Life Insurance Co. added several new features to its Web site www.newyork life.com)(Brief article)
August 1, 2008... New York Life Insurance Co. recently added several new features to its Web site, www.newyork life.com, that allow faster navigation for consumers, improved access for the visually and reading impaired and the ability to communicate about the...

MetLife Institute revamps pages.(Technology)(MetLife Mature Market Institute)(www.maturemarketinstitute.com)(Brief article)
August 1, 2008... The MetLife Mature Market Institute recently unveiled a newly designed Web site (www.maturemarketinstitute.com) that's now available with additional resources for those interested in aging, caregiving, the changing work force, retirement and...

By the numbers: dog bite claims.(SNAPSHOT)(Statistical table)(Brief article)
August 1, 2008... Dog bites now account for one-third of all home-owners insurance liability claims, according to a study by the insurance information institute. $356.20 Cost of all dog bite million liability claims in 2007 ...

Rating actions.(Ratings)
August 1, 2008... This edition reflects all financial strength rating changes--assignments, changes or placed under review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as non-U.S, insurance companies, since...

Re match: upcoming reinsurance renewal rates will pivot on tough economic realities.(Reinsurance/Capital Markets)(Cover story)
August 1, 2008... The hundreds of insurance professionals headed for Les Rendez-Vous de Septembre in Monte Carlo will begin their January reinsurance renewal negotiations against a backdrop of tough economic realities. The ongoing financial turmoil arising...

Top 35 global reinsurers produced $167 billion in premiums in 2007.(Reinsurance/Capital Markets)(Statistical table)
August 1, 2008... Global reinsurers enjoyed a strong year in 2007, with 32 of the top 35 companies as ranked by premiums achieving a combined ratio of less than 100. According to A.M. Best Co. analysts, these companies recorded very good underwriting results due...

Smart business is a no-brainer: in a high-tech world, 'minding your business' takes on new meaning.(Agent/Broker)
August 1, 2008... With revenues down, agencies are looking for ways to raise productivity without adding staff. One of the trends they are considering is outsourcing back-shop service tasks, typically performed by customer service representatives, to firms in...

Retooling reinsurance: capital markets are making a huge play for new technologies that will keep them in the securitization game.(Agent/Broker)
August 1, 2008... [ILLUSTRATION OMITTED] Ever notice how, when you get some new, cool high-tech toy--like a 60-inch plasma HDTV or a new Nintendo Wii gaming system--the neighbors and friends seem to drop in a little more often? That's basically what's...

Best's Review top global reinsurance brokers.(Reinsurance/Capital Markets)
August 1, 2008... Best's Review presents its second annual listing of top global reinsurance brokers with in-depth looks at leading firms' results and strategies. The information was provided by the companies to Best's Review reporters. Three of the listees--Aon...

Double vision: MassMutual intends to increase its retirement business twofold in three years.(Life)(Massachusetts Mutual Life Insurance Co.)(Company overview)
August 1, 2008... [ILLUSTRATION OMITTED] We're all familiar with the adage, "If you build it, they will come." And sometimes, if you offer a retirement plan, employees won't necessarily sign up or invest enough. It takes something more. ...

Just what the doctor ordered: Lenient underwriting in the physician longterm disability insurance market once caused insurers lots of pain. Could it happen again?(Life: Underwriting Insight)
August 1, 2008... Physicians were once the darling of the group long-term disability market. In the early 1980s, doctors were viewed as a pristine risk for disability insurance and showered with enriched LTD plans. Benefits included short elimination periods,...

Government holiday: British travel agents decry insurance changes.(Agent/Broker)
August 1, 2008... [ILLUSTRATION OMITTED] Beginning next Jan. 1, the U.K. Services Authority will assume regulatory control over travel insurance policies sold by travel agents and tour operators--rules likely to change an industry that agents once...

Refilling a need: thanks to a growing number of generic drugs, health plans are better able to manage prescription costs.(Health/Employee Benefits)
August 1, 2008... [ILLUSTRATION OMITTED] When Leviton Manufacturing Co. Inc., a North American producer of electrical and electronic products, wanted to provide its employees some refuge from rising health care costs, it promoted the use of generic drug...

Following the leader: David F. Provost succeeds Len Crouse at the helm of the nation's largest captive domicile.(Property/Casualty)
August 1, 2008... [ILLUSTRATION OMITTED] When David F. Provost thought about applying for the top position in Vermont's Captive Insurance Division, he discussed the idea with the man he would replace, Len Crouse, and others in the division. Then, he simply...

U.S. property/casualty results by line--2007.(Property/Casualty)(Statistical table)
August 1, 2008... A strong fourth quarter capped another solid year for the U.S. property/casualty industry, but year-end 2007 results fell short of the record profits recorded in 2006. The industry's net income fell almost 7% to $66.5 billion from $71.3 billion...

Life lines: information technology is helping health plan members and providers access information in new ways.(Technology)
August 1, 2008... [ILLUSTRATION OMITTED] In June, the health industry reveled in celebration of National Health Information Technology Week. While much of the hoopla centered on the advances of electronic medical records and other digital health management...

Closing the loop: improvement in claims processes often leads to lower processing costs and lower indemnity costs as well.(Technology)
August 1, 2008... Claims management is the largest operating expense for property and casualty, health and disability insurers alike. With the advent of the soft cycle, combined with global equities turning into a hear market and investment returns shrinking...

Join the revolution: insurers should add blogs, videos and message boards to their marketing strategies.(Technology)
August 1, 2008... [ILLUSTRATION OMITTED] YouTube didn't exist until February 2005. By July 2006, more than 100 million video clips were being viewed on the site every day. At one time, NBC complained that its TV shows were showing up on the site; however,...

Looking for trouble: as they search for accounting fraud, insurance auditors find guidelines puzzling.(Regulatory/Law)
August 1, 2008... Statement on Auditing Standards No. 99 articulated new guidelines requiring auditors to take additional steps to identify fraud that could affect the accuracy of financial statements. While SAS 99 was intended to provide guidance, it has...

Energy efficient: using an alternative approach, senior executives find the power to boost workers' productivity.(Property/Casualty)
August 1, 2008... [ILLUSTRATION OMITTED] Insurance executives continue to grapple with the challenge of motivating and engaging employees. Improving communication, empowering people and offering more flexible work schedules and creative benefits appear to...

Domestic trust: agents and brokers need to advise clients of the risk factors involved in employing workers in their homes.(Property/Casualty)(Survey)
August 1, 2008... Homeowners who employ domestic workers can unwittingly compromise their family security by failing to take proper precautions and placing too much trust in those who work within their walls. According to a survey by the Chubb Group of...

Coming out: are there hidden hedge funds in life insurers' balance sheets?(Life)
August 1, 2008... It is not surprising that hidden exposures to factors such as interest rates led to a series of unmanaged bets that have haunted insurers globally. In the United States, for example, the expectation that interest rates would remain stable or...

Fallout shelter: during divorce, women need to stay focused on long-term financial goals.(Life)
August 1, 2008... Researchers tell us the death of a spouse is the only life event more stressful than divorce. It's a sad and scary time, especially for women. But a financial adviser who is patient and thoughtful can do much to relieve the anxiety and build a...

Conventional wisdom: underwriting insurance for trade shows presents a unique risk-management task.(Property/Casualty)
August 1, 2008... Risk is rarely one-dimensional. The convergence of different threats on a single carrier is becoming increasingly common. They compound, yielding greater potential insured losses. For these reasons, catastrophe risk modeling analyses cannot...

Getting to know the new kids: as generation y comes into the workplace, it is important to understand how they think, communicate and learn.(Property/Casualty)
August 1, 2008... Another generation has joined the work force alongside the traditionalists, the boomers and Generation X. While Generation Y shares the core values of integrity and honesty with the other generations, they often have very different secondary...