Best's Review articles from November 2008

Best's Review archives from November 2008

A worthy question.(From the Editor's Desk)(Column)
November 1, 2008... I'm not a collector, but I do treasure my ticket stub from a 1966 Beatles concert. Unlike me, an estimated 37 million Americans are collecting everything from vintage baseball cards to Lladro figurines. However, many don't make the connection...

Quote/Unquote.(Comment)(Quotation)
November 1, 2008... "Our goal is to emerge from this process in a timely fashion as a smaller but more nimble company that is solidly profitable and has attractive, long-term growth prospects." [ILLUSTRATION OMITTED] Edward M. Liddy Chairman and...

Bailout sweet-tart: mental health parity.(Briefing)(Brief article)
November 1, 2008... Health insurers will be barred from placing more restrictive conditions on mental health coverage than for medical and surgical coverage under provisions of the Emergency Economic Stabilization Act signed by President Bush last month. ...

NAIC eyes sham diplomas.(Highlights From BestWeek)(National Association of Insurance Commissioners)(Brief article)
November 1, 2008... The National Association of Insurance Commissioners has approved a model regulation to govern the use of "senior-specific" certifications and designations in the sale or solicitation of life insurance and annuities. The rule aims to...

Worth repeating.(Highlights From BestWeek)
November 1, 2008... "Nowhere to run to, nowhere to hide." --A Goldman Sachs headline from its Oct. 8th market report on the U.S. life insurance sector's chances of avoiding fourth-quarter 2008 losses. The firm said it was lowering life insurers' earnings...

Money talks.(To the Rescue)(Brief article)
November 1, 2008... [ILLUSTRATION OMITTED] Caption: MONEY TALKS: President Bush addresses the nation shortly after announcing that the federal government would inject $250 billion into the nine biggest American banks. The plan was a revision to the original...

Insurers brace for economy's wrath.(Highlights From BestWeek)(Survey)(Brief article)
November 1, 2008... More than 85% of insurance industry professionals believe the ongoing turmoil in global credit markets will have an impact on their business, according to a recent A.M. Best online survey of 576 respondents. Survey respondents also...

Munich re: Asia market hot.(Highlights From BestWeek)(Brief article)
November 1, 2008... Munich Re is betting that climate change will bring into focus a number of risks and openings for underwriting in Asian countries, where coverage of risks from new, complex technologies will involve high insured amounts. The impact of...

Insurers subpoenaed in rail probe.(Highlights From BestWeek)(Brief article)
November 1, 2008... Four disability insurers reportedly have been subpoenaed to provide testimony and documents in a probe of payments to retired workers at the Long Island Rail Road. Aflac, First Unum Life Insurance, Transamerica Financial Life Insurance and...

AIG bailout backed.(Best's Review's STATS & NUMBERS)(American International Group Inc.)(Survey)(Brief article)
November 1, 2008... Responses from 551 participants in an A.M. Best online survey: (1) The Federal Reserve is providing an $85 billion credit facility to stabilize American International Group. Was that a good thing to do? Yes 51.4 No ...

Inner Mongolia.(Property/Casualty)(Brief article)
November 1, 2008... INNER MONGOLIA, in China's far northern territory, is the fastest growing province for insurance premium this year, China's insurance regulator said. Through August, total premium revenue topped 10 billion yuan ($1.4 billion), a 52% increase...

Texas has rolled out.(Property/Casualty)(Brief article)
November 1, 2008... TEXAS HAS ROLLED OUT its instant auto liability verification system, TexasSure, with which police can tell on-the-spot if motorists have valid insurance on their vehicles. TexasSure uses a secure database to match motor vehicle records with...

In a surprise, California Gov. Arnold Schwarzenegger last month vetoed without comment a bill to define and ban STOLI--stranger-originated life insurance transactions.(Life/Health)(Brief article)
November 1, 2008... In a surprise, California Gov. Arnold Schwarzenegger last month vetoed without comment a bill to define and ban STOLI--stranger-originated life insurance transactions. The bill, based on a National Conference of Insurance Legislators model, had...

By the numbers: industry favors McCain by 2-to-1 over Obama.(Briefing)(John McCain)(Barack Obama)(Statistical table)(Survey)
November 1, 2008... An A.M. Best survey of 1,244 industry insiders from Sept. 5-9 found 64% supported Arizona Republican Sen. John McCain and nearly 34% were for Illinois Democrat Sen. Barack Obama. The poll showed McCain's support to be slightly stronger in...

Tracking the stocks of global insurers and brokers.(Briefing: Stock Watch)(Statistical table)
November 1, 2008... [ILLUSTRATION OMITTED] Tracking the Stocks of Global Insurers and Brokers As of the U.S. market close on Tuesday, Oct. 14, the A.M. Best Global Insurance Composite Index stood at 810.00, down 40.41 % year-to-date. A.M. Best stock...

Meetings.(Calendar)
November 1, 2008... NOV. 6-8 Life Insurance Settlement Association: 14th Annual Fall Conference, New York City www.lisassociation.org Nov 6 Insurance Marketing and Advertising Summit (IMAS): Annual Conference New York City stacy.anker@ambest.com Nov. 9-11...

Insurance jobs.(Briefing: Employment)(Statistical table)
November 1, 2008... U.S. insurance industry payrolls shed 5,600 positions from August to September, as total U.S. non-farm payrolls declined at the greatest rate since March 2003, according to seasonally adjusted data released Oct. 3 by the U.S. Bureau of Labor...

Question: Is it time to get back to basics?(Career Wise)
November 1, 2008... These are critical times which call for decisive, yet strategic and innovative measures. Whether large or small, public or private, all insurance organizations are impacted by this global financial crisis. Companies' capital, liquidity...

Max Capital Group Ltd.(Agent/Broker)(appointment of Kevin Werle)(Brief article)
November 1, 2008... KEVIN WERLE has been named executive vice president and chief risk officer for MAX CAPITAL GROUP LTD. He will assume his new posts with the Hamilton, Bermuda-based specialty insurer, taking responsibility for several areas previously covered by...

Marsh & McLennan Cos.(Agent/Broker)(appointment of Vanessa A. Wittman)(Brief article)
November 1, 2008... MARSH & MCLENNAN COS. appointed VANESSA A. WITTMAN executive vice president and chief financial officer. She was most recently CFO and executive vice president of Adelphia Communications Corp., where she served on a four-member executive...

Unum Group.(Health/Employee Benefits)(appointment of Liston Bishop)(Brief article)
November 1, 2008... UNUM GROUP has named LISTON BISHOP III executive vice president and general counsel. He has served as the employee benefits and disability insurer's interim general counsel since February. [ILLUSTRATION OMITTED] Coming most recently...

American International Group.(Life)(appointment of kenneth Juneau)(Brief article)
November 1, 2008... KENNETH JUNEAU, executive vice president and senior regional life executive of AMERICAN INTERNATIONAL GROUP's American International Assurance regional office, has taken over leadership of the Singapore unit after general manager Mark O'Dell...

Burnett named president, CEO of Liberty Northwest Insurance.(People in Insurance)
November 1, 2008... Liberty Northwest Insurance Corp. has named Julie A. Burnett to be its president and chief executive officer. [ILLUSTRATION OMITTED] Burnett is set to take up her new posts with the Portland, Ore.-based workers' compensation and...

Axa Equitable Life Insurance Co.(Life)(appointment of Claude Methot )(Brief article)
November 1, 2008... CLAUDE METHOT, senior vice president for AXA EQUITABLE LIFE INSURANCE CO., has been elected executive vice president of life and annuity product development. Methot will remain Axa Equitable's chief product officer, a post he has held since...

Hartford Financial Services Group Inc.(Life)(promotion of Brian O'Connell)(Brief article)
November 1, 2008... BRIAN O'CONNELL, chief information officer for HARTFORD FINANCIAL SERVICES GROUP INC.'s life office, has had his duties expanded to cover the entire company. O'Connell has taken up the newly created position of senior vice president and...

Manulife Financial Corp.(Life)(appointments of Donald A. Guloien and John D. Desprez III)(Brief article)
November 1, 2008... MANULIFE FINANCIAL CORP. has named DONALD A. GULOIEN to succeed DOMINIC D'ALESSANDRO as president and chief executive officer, starting May 7, 2009. D'Alessandro, who will retire at that time, has served as chief of the Canadian life insurer...

Union Central Life Insurance Co.(Life)(appointment of Steven Valerius)(Brief article)
November 1, 2008... UNION CENTRAL LIFE INSURANCE CO. has named STEVEN VALERIUS as president, according to its parent company, Lincoln, Neb.-based Unifi Cos. Valerius will retain his duties as Union Central's senior vice president for its individual and retirement...

Prudential Financial Inc.(Life)(appointment of Stephen Pelletier)(Brief article)
November 1, 2008... PRUDENTIAL FINANCIAL INC. has named STEPHEN PELLETIER, currently chairman and chief executive officer of its international investments business, to be president of its annuities business. He replaces DAVID R. ODENATH, who became head of the...

White Mountains Insurance Group Ltd.(Property/Casualty)(appointment of Jeff Davis)(Brief article)
November 1, 2008... Hanover, N.H.-based WHITE MOUNTAINS INSURANCE GROUP LTD. has named JEFF DAVIS senior vice president and chief actuary. Davis will also take up a post as executive vice president and chief actuary with White Mountains Re Ltd, the multiline...

NSM Insurance Group.(Property/Casualty)(appointment of Bill Mckernan)(Brief article)
November 1, 2008... Conshohocken, Pa.-based NSM INSURANCE GROUP has named BILL MCKERNAN its president. McKernan takes up his new post with the commercial property/casualty insurance services firm and brokerage and will report to Chief Executive Officer GEOF...

Catlin Group Ltd.(Property/Casualty)(appointment of Michael Hansen at Catlin Canada Inc.)(Brief article)
November 1, 2008... CATLIN GROUP LTD. has named MICHAEL HANSEN president of Catlin Canada Inc., the Toronto-based regional office of the Hamilton, Bermuda-based insurer, and will work out of the company's field office in Calgary, Alberta. Coming from his most...

XL Capital Ltd.(Property/Casualty)(appointment of Jacob Rosengarten)(Brief article)
November 1, 2008... XL CAPITAL LTD. has named JACOB ROSENGARTEN as the executive vice president and chief enterprise risk officer for the XL group of companies. Rosengarten will be responsible for the Hamilton, Bermuda-based company's risk assessment efforts. He...

Harleysville Group Inc.(Property/Casualty)(appointment of John B. Keefe)(Brief article)
November 1, 2008... HARLEYSVILLE GROUP INC. has named JOHN B. KEEFE senior vice president for corporate development. Keefe comes most recently from Baltimore-based Ferris Baker Watts Inc., an investment banking firm, where he was a senior vice president...

Kiln Group.(Property/Casualty)(appointment of Charles Franks)(promotion of EDward Creasy)(Brief article)
November 1, 2008... CHARLES FRANKS has been named chief executive officer of Lloyd's insurer KILN GROUP. Franks will retain his position as CEO of R.J. KILN & CO. LTD., the Bermuda-based group's U.K. operating company. Current CEO EDWARD CREASY has been named...

RFIB Group Ltd.(Reinsurance/Capital Markets)(appointment of Nick Foden-Pattinson)(Brief article)
November 1, 2008... RFIB GROUP LTD. has named NICK FODEN-PATTINSON as a managing director in its global reinsurance business. Foden-Pattinson has taken up his post with the London-based insurance brokerage and Lloyd's member company as the managing director of its...

Lloyd's.(Reinsurance/Capital Markets)(appointment of Eric Gao)(Brief article)
November 1, 2008... LLOYD'S appointed ERIC GAO chief executive for LLOYD'S REINSURANCE COMPANY (CHINA) LTD., which has 15 syndicates signed up to write business since its opening in 2007. Formerly a director and general manager of Swiss Re's Beijing branch, Gao...

Transatlantic Holdings Inc.(Reinsurance/Capital Markets)(appointments of)(Brief article)
November 1, 2008... TRANSATLANTIC HOLDINGS INC.'s board of directors has elected KENNETH APFEL to be the company's executive vice president and chief actuary. Apfel also will serve in a similar capacity with Transatlantic Reinsurance Co., a Transatlantic...

Ramachandran named CEO of Aviva Life Insurance Co. India.(People in Insurance)(Brief article)
November 1, 2008... Aviva Life Insurance Company India Ltd. appointed T.R. Ramachandran chief executive officer in India, succeeding managing director and CEO Bert Paterson. [ILLUSTRATION OMITTED] Previously with Citibank for 19 years, Ramachandran held...

Good decisions.(ADVERTISING)(Massachusetts Mutual Life Insurance Co.)(Brief article)
November 1, 2008... MASSACHUSETTS MUTUAL LIFE INSURANCE CO. recently launched "Good Decisions," the next evolution in the company's brand marketing campaign that supports consumer confidence in choices. Specifically, consumers are encouraged to be secure in...

Washing worries away.(BRANDING)(Northwestern Mutual Life Insurance Co. launched website www.letyourworriesgo.com )(Brief article)
November 1, 2008... [ILLUSTRATION OMITTED] NORTHWESTERN MUTUAL is helping lift people's burdens in a fun way. In a new interactive Web site, www.letyourworriesgo.com, people are empowered to release their concerns using a medieval catapult, rocket ship,...

Explorer Insurance Co.(BRANDING)(Brief article)
November 1, 2008... EXPLORER INSURANCE CO., the auto insurance carrier and member company of ICW Group, recently launched a brand platform asserting the company's redoubled focus on independent insurance agents to fuel mutual growth and "Turn Partnership into...

Writers add annuity option.(SPOTLIGHT)(Prudential Financial Inc.)(Brief article)
November 1, 2008... Prudential Annuities, the domestic annuity business for Prudential Financial, has added an optional Lifetime Income Accelerator to its Highest Daily Lifetime Seven product. The option can double policyholders' annual guaranteed incomes if they...

Transamerica Life Insurance Co.(SPOTLIGHT)(Brief article)
November 1, 2008... Transamerica Life Insurance Co. has introduced Principium II, which offers lower-than-average costs and two subaccounts invested in Vanguard exchange-traded funds: Transamerica Index 50 VP and Transamerica Index 75 VP. These subaccounts cost...

Insurers can audit repair estimates.(Technology)(Scene Genesis Inc.)(Genesis AuditSentry)(Brief article)
November 1, 2008... [ILLUSTRATION OMITTED] Scene Genesis Inc. unveiled Scene Genesis AuditSentry--software that lets auto insurers review repair estimates for compliance with audit rules. AuditSentry is an improvement over a manual estimate-review process....

Allstate tests eco-friendly option.(Property/Casualty)
November 1, 2008... Allstate Insurance Co. has expanded its market test of its eco-friendly insurance option, "Allstate Green," to eight more states. The product saves customers money and earmarks contributions to local environmental causes. The expansion follows...

Life product with loyalty credit.(Life)(Nationwide Financial Services Inc.)(Brief article)
November 1, 2008... Nationwide Financial Services has introduced YourLife Accumulation VUL into its suite of YourLife life insurance products. It offers a maximum 0.25% loyalty credit and currently no mortality and expense charge. Special features include...

By the numbers: family coverage.(SNAPSHOT)(Survey)(Brief article)
November 1, 2008... $12,680 Yearly premiums for employer-sponsored health insurance for family coverage in 2008 5% Premium rise this year $3,354 Average amount workers pay out-of-pocket annually toward family coverage 50% Premium rise since 1999,...

Rating actions.(Ratings)(Statistical table)
November 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...

Collecting premiums: insurers can bolster business by protecting clients' personal treasures.(Agent/Broker: Collectibles Coverage)(Cover story)
November 1, 2008... You know those old Barbie dolls and Star Wars figures gathering dust on your grown-up children's shelves? They could be worth a fortune. In fact, many household valuables that insurance clients hold dear--and assume are covered on their...

Breaking the mold: rebuilding the synthetic stucco business laid the foundation for insurers to return to the industry.(Property/Casualty: Construction Liability)
November 1, 2008... Despite its rocky past and some ongoing litigation, the insurance market for synthetic stucco has gradually reshaped itself. But the hard sell remains for product manufacturers, due to exclusions that building contractors still face when...

U.S. homeowners multiple peril--2007 direct premiums written by state.(Property/Casualty: Homeowners)(Statistical table)(Company rankings)
November 1, 2008... U.S. Homeowners Multiple Peril--2007 Direct Premiums Written by State Ranked by 2007 direct premiums written. ($000) No. Direct % of % of Premiums U.S. Premium...

U.S. homeowners multiple peril--2007 top writers.(Property Casualty: Homeowners)(Statistical table)(Company rankings)
November 1, 2008... U.S. Homeowners Multiple Peril--2007 Top Writers Ranked by 2007 direct premiums written. ($000) 2007 Direct % Premiums Change in Rank...

Forward motion: homeowners carriers can protect themselves when properties they insure face foreclosure.(Property/Casualty: Foreclosure Claims)
November 1, 2008... [ILLUSTRATION OMITTED] The consumer lending market is experiencing extraordinary turmoil. The filing of personal bankruptcies is rising and the percentage of consumers in the United States who have declared bankruptcy continues to...

Producing power: insurance company management must deliver a compelling and cost-effective producer experience that will provide the carrier with a competitive performance edge.(Life: Distribution)
November 1, 2008... [ILLUSTRATION OMITTED] What is said and done between life company management and its typically diverse and far flung network of distribution partners and producers has an obviously profound effect on the volume and profitability of the...

Raise, hold or fold? Most major insurers have boosted ad spending this year, but will the sour economy sidetrack their plans?(Property/Casualty: Corporate Advertising)(Company rankings)
November 1, 2008... [ILLUSTRATION OMITTED] Several leading insurers seem to O have upped the ante when it comes to advertising spending this year. In fact, the top 10 insurance advertisers for 2008, as ranked by strategic advertising and marketing...

A coverage whose time has come: recent events highlight the need for A-Side directors and officers coverage.(Property/Casualty: Underwriting)
November 1, 2008... One outgrowth of the corporate scandals that hit the financial markets several years ago was A-Side directors and officers coverage. At that time, some directors saw their companies collapse overnight, dashing all hope that these companies...

Global warning: reinsurers seek a realistic assessment of a pandemic's potential impact.(Reinsurance/Capital Markets: Pandemics)
November 1, 2008... [ILLUSTRATION OMITTED] Insurers and reinsurers understandably worry about major natural catastrophes such as the recent Hurricane Ike. Yet hovering in the background, like a ticking bomb, is an even greater concern: a lethal influenza...

Social security: making it last: when to begin taking benefits depends on factors such as living expenses and other available income.(Life: Underwriting Insight)
November 1, 2008... This year, baby boomers start turning 62, which means they are eligible for Social Security benefits at a reduced rate. The question is, should they elect to start collecting Social Security at age 62 even though their benefits will be just 75...

Hope for tomorrow: with 24,000 cases of autism diagnosed each year, insurers and states seek ways to cover the costly developmental disability.(Health/Employee Benefits: Autism Coverage)
November 1, 2008... [ILLUSTRATION OMITTED] Becky Scoggins knows the devastating impact that autism can have on a family. Not only is there an emotional toll, but Scoggins, the mother of a three-year-old autistic son, is racked with thousands of dollars in...

Taking the long view: top executives say technology investments require a delicate touch in today's economy.(Technology: IT Initiatives)
November 1, 2008... [ILLUSTRATION OMITTED] Companies trying to expand revenues while hamstrung with legacy systems face daunting challenges in today's economy, according to a group of senior executives who shepherd their companies' information technology...

One second thought ... For insurers, the life settlement market they once shunned is becoming an attractive side business.(Life: Life Settlements)
November 1, 2008... [ILLUSTRATION OMITTED] Life settlements are quickly becoming the guilty pleasure of the life insurance industry, as a handful of companies scramble for a piece of the market's estimated $15 billion in annual business. A life settlement...

A growing niche for a 'new' product: underwritten annuities could be the answer for certain older clients.(Life: Selling Insight)
November 1, 2008... Underwritten annuities can be misunderstood, if not unfamiliar, to even experienced advisers. Yet this annuity offers notable benefits to certain clients, particularly in the current economic environment. The underwritten annuity...

Like minded: program insurance is alive and well, and more diversified than ever.(Agent/Broker: Program Insurance)(Sullivan Group)
November 1, 2008... [ILLUSTRATION OMITTED] Program insurance may not be the wave of the future in commercial lines businesses, but for many companies it is an increasingly larger chunk. The program business, an especially efficient way to underwrite and...

Tight ships don't sink: take steps to prevent a stormy economy from swamping your agency.(Agent/Broker: Selling Insight)
November 1, 2008... The business world is struggling with slow economic growth, a tight credit market and a lack of investment capital. Bank and investment-house failures and falling stock prices have raised the fear of higher unemployment, shrinking nest eggs and...

Dollar signs: the NAIC's 2009 budget projects more sales from publications and data products.(Regulatory/Law: NAIC Budget)(National Association of Insurance Commissioners)(Statistical table)(Financial report)
November 1, 2008... The National Association of Insurance Commissioners' $73.1 million budget for 2009 projects significant increases in expenses and revenues while continuing to fund an increasing share from publications and insurance data products. As...

Market conduct plan advances amid controversy.(Regulatory/Law: NAIC)
November 1, 2008... Insurance groups are condemning the National Association of Insurance Commissioners for adopting a market conduct reporting plan "cooked up" behind closed doors. The full NAIC membership, or plenary, voted to back a transitional Market...

Dilweg pulls controversial climate plan at NAIC meeting.(Regulatory/Law: NAIC)(National Association of Insurance Commissioners)(Sean Dilweg)(Brief article)
November 1, 2008... Wisconsin Insurance Commissioner Sean Dilweg unexpectedly pulled a controversial climate risk disclosure plan from consideration at the start of the NAIC fall national meeting. It faces opposition from both environmentalists and insurers. ...

NAIC suffers lack of openness, advocates say.(Regulatory/Law: NAIC)(National Association of Insurance Commissioners)(Brief article)
November 1, 2008... American International Group, a proposed multibillion-dollar rescue plan for financial companies, and state-based regulation all have something in common, two consumer advocates told insurance commissioners: They all suffer from a lack of...

Ship piloting errors infrequent but costly.(Property/Casualty: Marine Insurance)
November 1, 2008... Pilot error on ships can have dire consequences. One such recent tragedy was the Cosco Busan container ship that struck the Bay Bridge in San Francisco. The incident has cost the vessel's operator and insurers more than $60 million in cleanup...

NAMIC stresses need for state regulatory reform.(Property/Casualty: Mutual Insurers)(National Association of Mutual Insurance Companies)
November 1, 2008... Mutual insurers see federal intervention in regulation as "unsettling," according to the vice president of federal affairs for the National Association of Mutual Insurance Companies. "If you live in Iowa or Illinois or wherever, and you...

CEOs share financing moves.(Property/Casualty: Mutual Insurers)
November 1, 2008... Mutual insurance leaders at this year's NAMIC meeting presented financing moves that worked for them. NAMIC Insurance Agency and NAMIC Insurance Co. of Indianapolis conducted enterprise risk management in the first stages of its finance...

NY chief: AIG suitors abound.(Property/Casualty: Mutual Insurers)(American International Group Inc.)(Maurice R. Greenberg)(Brief article)
November 1, 2008... Maurice R. Greenberg has not been ruled out as a possible buyer of American International Group's state-domiciled insurance companies, New York State Superintendent of Insurance Eric Dinallo told a packed crowd of mutual insurers at the...

Bon Voyage: timely advice can help clients prepare for various situations when traveling.(Property/Casualty: Loss/Risk Management Insight)(Survey)
November 1, 2008... Americans are traveling more, especially to exotic locations, and they're engaging in more adventurous activities. With the busy holiday travel season approaching, travelers are at greater risk of illness and accidental injury. Travelers,...

Foreign aid: lower costs and better-quality treatment are encouraging Americans and their insurers to seek health care abroad.(Health/Employee Benefits: Expatriates' Coverage)
November 1, 2008... An estimated four million Americans live outside the United States, more than the population totals of 26 different states. In the past, when these expatriates became significantly ill or injured, they usually returned to the U.S. for health...

Liddy takes the wheel: former colleagues say Ed Liddy has the drive and street smarts to guide AIG onto firmer ground.(Regulatory/Law: American International Group)(appointment of Edward M. Liddy)
November 1, 2008... [ILLUSTRATION OMITTED] Life was looking good for Edward M. Liddy. At least that's how Robert W. Pike saw things playing out for his former CEO at Allstate Corp. Liddy had no real money concerns or ego, Pike thought. The 62-year-old...

Smoothing the way: aggregators can help insurers increase the quantity and quality of online sales.(Technology: Online Sales)
November 1, 2008... The role of aggregator as a key distribution channel for online insurance sales is gaining importance. But to have an effective aggregator strategy, insurers must first trader-stand the aggregator operating model. Insurers will then be able to...

Making the grade: insurers lag other industries when it comes to customer service.(Technology: Technology Insight)
November 1, 2008... With claims from the recent spate of hurricanes--Gustave, Hanna and Ike--still pouring in, insurance companies' claims operations are once again being graded on their performance. But, while it's too early to hand out report cards just yet,...

Under reconstruction: the NAIC moves ahead on modernizing reinsurance regulations.(Reinsurance/Capital Markets: Reinsurance Reform)(National Association of Insurance Commissioners)
November 1, 2008... For some time, the National Association of Insurance Commissioners, state insurance regulators and others have been considering dramatic changes to the regulations governing collateralization requirements in reinsurance transactions. At its...

Ever ready: Guaranty Fund preparedness is the key to effectively managing insolvencies.(Regulatory/Law: State Guaranty Funds)
November 1, 2008... Between 1999 and 2005, guaranty funds paid out about $10 billion as a result of such mega-insolvencies as Reliance, Legion, PHICO and Fremont--almost half the $21 billion paid by the system since the 1970s. If this high insolvency rate...

The Bottom Line: insurance slogans--old and new--are powerful tools to help companies magnify their brands.(The Last Word)
November 1, 2008... For nearly 60 years, "You're in good hands" has been synonymous with Allstate Insurance Co.'s mission. In fact, that simple phrase became the most recognizable slogan in America, according to Northwestern University's Medill Graduate Department...

Who said that? Need a speech-starter? Try one of these quotes. But first, can you match it with the historic figure in the crowd at the right who said it?(Quiz)
November 1, 2008... Need a speech-starter? Try one of these quotes. But first, can you match it with the historic figure in the crowd at the right who said it? 1 "Obstacles are those frightful things you see when you take your eyes off your goal." 2...

Connecting with the customer.(Industry Overview)(Brief article)
November 1, 2008... Agents & Brokers WHO SELLS IT: Most insurance is sold through agents and brokers, but insurers also market their risk protection products directly through the mail, the telephone or the Internet. GETTING PAID: Agents are paid...

Public insurers.(Industry Overview)(Statistical table)
November 1, 2008... Public Insurer GLOBAL INVESTING: These stock indexes reflect the trading patterns of equities issued by companies whose primary business is insurance. TOP AND BOTTOM PERFORMERS IN A.M. BEST INDEXES 4MBG (Global Insurance Composite...

Financial controls.(Industry Overview)(Brief article)
November 1, 2008... REPUTATION AND RISK: Insurance is one of the few industries that markets and sells products before the final cost is known. The industry relies on its best and brightest people to estimate costs, SAFE AND SOUND: Insurers are required by law...