Best's Review articles from October 2008

Best's Review archives from October 2008

A good fit.(From the Editor's Desk)(Editorial)
October 1, 2008... This is October. To many it means the premier fall sporting event--the World Series. To Best's Review, October signals the annual auto insurance issue. This month we tie the two together, featuring a look at how insurers cover America's...

Quote/unquote.(Comment)(Quotation)
October 1, 2008... "I think one of the problems in the insurance industry is the turnover at the top. It's too fast. You have a new guy come in, and in three years he's gone." Merton J. Segal, retiring chairman, Meadowbrook Insurance Group, which he founded...

Clarification.(Comment)(Correction notice)
October 1, 2008... On page 81 of August's Best Review, the U.S. Workers' Comp table for 2007 should have included State Insurance Fund of NY (AMB #04029) as seventh-largest writer of this line. The 2007 total amount of direct premium written for workers'...

Ike mangles Texas Coast; spares offshore oil fields.(Briefing: Highlights From BestWeek)(Brief article)
October 1, 2008... Although claims are still being tallied, insured losses from Hurricane Ike could easily top $20 billion from Texas northeast to Ohio, insurers said. Ike roared ashore at Galveston on Sept. 13 with 110-mph winds and a storm surge that swamped...

Calif.: STOLI on the rocks.(Briefing: Highlights From BestWeek)(stranger owned life insurance)(Brief article)
October 1, 2008... The California legislature has passed a bill that would make the Golden State the latest to take action to rein in stranger-originated life insurance transactions. If Gov. Arnold Schwarzenegger signs the bill, California would become the 13th...

Worth repeating.(Briefing: Highlights From BestWeek)(appointment of Karen Weldin Stewart)(Brief article)
October 1, 2008... "I didn't really plan that I was going to win." --Karen Weldin Stewart, after winning the Democratic primary for Delaware insurance commissioner. She defeated two male contenders, including the party's endorsed candidate. Stewart had twice...

China cools off bancassurances.(Briefing: Highlights From BestWeek)(Brief article)
October 1, 2008... The China Insurance Regulatory Commission is requiring domestic insurers to strengthen their risk management by consolidating business structures and slowing growth ha the investment-linked bancassurance market over the next four months. ...

The morning after.(Texas-Size Disaster)(Brief article)
October 1, 2008... [ILLUSTRATION OMITTED] Caption: THE MORNING AFTER: The famed seawall along the Gulf of Mexico in Galveston, Texas, held together during Hurricane Ike last month, but the storm turned almost every building atop the structure to matchsticks....

Study: 'cat' bills a disaster.(Briefing: Highlights From BestWeek)(Brief article)
October 1, 2008... Losses covered by federal proposals to add windstorm coverage to the National Flood Insurance Program and to make loans and reinsurance available to state catastrophe funds could reach $230 billion in five years, according to a report. ...

Insurers seek credit-score OK.(Briefing: Highlights From BestWeek)(Brief article)
October 1, 2008... Insurers are preparing to appeal to the Michigan Supreme Court after a state appellate court ruled to prohibit credit-based insurance scoring in underwriting. The appellate decision reversed a lower court ruling allowing the use of what...

Two big insurers.(Property/Casualty)(State Farm Mutual Automobile Insurance Co.)(Allstate Corp.)(Brief article)
October 1, 2008... TWO BIG INSURERS, Allstate and State Farm, received approvals in August to raise rates on Mississippi homeowners policies with wind and hail coverage. The hikes average 14% and go into effect when policy renewals begin in November. The...

Claims resulting.(Property/Casualty)(Brief article)
October 1, 2008... CLAIMS RESULTING from the massive earthquake in Sishuan Province, China, in May, have topped 982 yuan ($143.5 million) and are 89% settled, according to the country's insurance commission. An estimated 165,000 claims were filed for a range of...

Rates will fall.(Workers' Comp)(Brief article)
October 1, 2008... RATES WILL FALL another 5% in New York State as last year's workers' compensation reforms continue to take hold. Rates have already decreased 20.5% since 2007 thanks to a new cap on benefits duration, evidence-based treatment guidelines and a...

Shortened life cycles.(STATS & NUMBERS)(Brief article)
October 1, 2008... Alcohol as a factor in the 5,154 motorcycle deaths recorded in 2007, shown by age and blood alcohol content. [ILLUSTRATION OMITTED] Rider's Age BAC .00 BAC .01-.07 BAC .08+ <20 85 6 9 20-29...

Mortgage insurers' profits tumble.(By the Numbers: Recently published Special Reports from A.M. Best Company)(Brief article)
October 1, 2008... The mortgage guarantee insurance industry experienced extremely high losses and negative operating returns in 2007 as mortgage defaults and foreclosures climbed rapidly. 2007's industrywide combined ratio was 141.3 compared with the five-year...

Fannie/Freddie risks: insurers can handle it.(By the Numbers: Recently published Special Reports from A.M. Best Company)(Brief article)
October 1, 2008... A.M. Best doesn't foresee large write-downs of insurance firms' investments in securities issued by Fannie Mae or Freddie Mac. Most firms invested in fixed-income securities that will benefit from the federal takeover of the two agencies. Best...

Pressure will grow on surplus lines.(By the Numbers: Recently published Special Reports from A.M. Best Company)(Brief article)
October 1, 2008... While surplus lines insurers outperformed the P/C industry in underwriting and operating results in 2007, the softening market and competition portend deteriorating profits. Barring a catastrophe, surplus lines market share is expected to keep...

Meetings.(Briefing)(Calendar)
October 1, 2008... Oct. 15 2008 Review & Preview--Europe Conference: A.M. Best's 3rd Annual Insurance Ratings Conference, London www.ambest.com/reviewpreview/ europe Oct. 15-18 American Land Title Association: Annual Convention, Koloa, Hawaii ...

Tracking the stocks of global insurers and brokers.(Briefing: Stock Watch)(Statistical table)
October 1, 2008... As of the U.S, market close on Friday, Sept. 12, A.M. Best's Global Insurance Composite Index stood at 1011.42, down 25.59% year-to-date. The A.M. Best stock indexes cover 176 publicly traded insurance companies and brokers. Year-over-year the...

SEC chairman offers road map to IFRS transition by 2014.(Briefing: Stock Watch)(United States. Securities and Exchange Commission)(International financial reporting standards)
October 1, 2008... Publicly held U.S. companies could transition to the use of International Financial Reporting Standards by 2014, according to a proposed road map put forward by U.S. Securities and Exchange Commission Chairman Christopher Cox. His plan...

Insurance jobs.(Briefing: Employment)(Statistical table)
October 1, 2008... U.S. insurance industry payrolls shed 1,400 positions from July to August, as total U.S. nonfarm payrolls declined for the eighth consecutive month, according to seasonally adjusted data released Sept. 5 by the U.S. Bureau of Labor Statistics....

Career wise.(Briefing: Employment)
October 1, 2008... Question: What strategies are important before, during and after a job interview? Preparing yourself for an interview, especially in these economic times, takes a little work. With the soft insurance market, there are areas where jobs are...

Aon Corp.(Agent/Broker)(appointments of Karen Mildenhall and Karen Reutter)(Brief article)
October 1, 2008... AON CORP. has named KAREN MILDENHALL executive vice president for the company's construction services group. Mildenhall takes up her new post with the Chicago-based global broker while also assuming the lead spot for operations with the...

Orlando Ashford has joined Marsh & McLennan Cos.(Agent/Broker)(appointments of)(Brief article)
October 1, 2008... ORLANDO ASHFORD has joined MARSH & MCLENNAN COS. as senior vice president for human resources. He will work with Marsh's operating companies' chief executives and human resources managers. Marsh also announced that SANJAY KEDIA has been...

Hanover Insurance taps Kusumi for personal lines chief post.(People in Insurance)(Hanover Insurance Group Inc. appointed of Gary Kusumi)(Brief article)
October 1, 2008... Gary Kusumi has been selected by Mass.-based Hanover Insurance Group Inc. to lead the company's personal lines division as its president. Kusumi, 61, will serve at the head of the products, pricing, service and underwriting sectors of the...

Guy Carpenter & Co.(Agent/Broker)(appointments of Massimo Reina and Andrea Manzitti)(Brief article)
October 1, 2008... GUY CARPENTER & CO. appointed MASSIMO REINA as chief executive of Guy Carpenter Srl, Milan, with responsibilities for the Italian territory. He will be based in Milan. Before joining Guy Carpenter, Reina was general manager of Aon Re...

Ironshore Inc.(Property/Casualty)(appointment of bob piller)(Brief article)
October 1, 2008... Bermuda-based specialty insurer IRONSHORE INC. named BOB PILLER president of its newly created excess casualty unit. Piller will head IronSelect, a New York-based facility created to write excess umbrella casualty policies for midsize...

Progressive Corp.(Property/Casualty)(appointment of Valerie Krasowski)(Brief article)
October 1, 2008... VALERIE KRASOWSKI has been named PROGRESSIVE CORP.'s chief human resources officer. A Progressive employee since 1987, she most recently was a special lines general manager. She joined the company as an information systems analyst. ...

Valiant Insurance Group Inc.(Property/Casualty)(appointment of David Sykes)(Brief article)
October 1, 2008... VALIANT INSURANCE GROUP INC. named DAVID SYKES senior vice president of human resources with its U.S. property/casualty insurance operations. Sykes will work out of the New York office of the company, a subsidiary of Bermuda-based Ariel...

Lloyd's.(Property/Casualty)(appointment of Eamonn Egan)(Brief article)
October 1, 2008... EAMONN EGAN, former regional development manager at Ace European Group, has been named LLOYD'S country manager for Ireland. Egan is the first person to hold the post. Later in the year, he will become Lloyd's general representative in...

Narragansett Bay Insurance Co.(Property/Casualty)(appointment of mark Talerico)(Brief article)
October 1, 2008... NARRAGANSETT BAY INSURANCE CO. has appointed former Guy Carpenter executive MARK TALERICO as its chief risk officer. A 25-year insurance veteran, Talerico will be responsible for overseeing Narragansett's exposure management and its...

Endurance Specialty Holdings Ltd.(Reinsurance/Capital Markets)(appointment of Lauren Kent)(Brief article)
October 1, 2008... Specialty insurer ENDURANCE SPECIALTY HOLDINGS LTD. has named LAUREN KENT as the senior underwriting manager and bead of reinsurance for its global insurance office. Kent will take up her new post with Endurance Worldwide Insurance Ltd.,...

Max Capital Group Ltd.(Reinsurance/Capital Markets)(appointments of David kalainoff and Adam Mullan)(Brief article)
October 1, 2008... MAX CAPITAL GROUP LTD. has announced senior management changes in its Hamilton, Bermuda headquarters and its Dublin, Ireland, regional office. DAVID KALAINOFF will take a new post as managing director and executive vice president of MAX...

Hartford Financial Services Group Inc.(Life)(appointment of Marc Lieberman)(Brief article)
October 1, 2008... HARTFORD FINANCIAL SERVICES GROUP INC. has hired MARC LIEBERMAN to head its Ireland-based life insurance operation as president and chief executive officer of HARTFORD LIFE LTD. Formerly chief executive for the ING Group's New Zealand...

Prudential Plc.(Life)(appointment of Harvey Mcgrath)(Brief article)
October 1, 2008... HARVEY MCGRATH, former chief executive of the Man Group, an investment management firm, has been appointed chairman of U.K. financial services group PRUDENTIAL PLC. McGrath, who will assume his post on Jan. 1, will succeed DAVID CLEMENTI....

Assurant Inc.(Life)(appointments of jane Meyer and Allen Walker)(Brief article)
October 1, 2008... Two ASSURANT INC. executives have been named to senior vice presidencies with the company. JANE MEYER has been tapped to serve as senior vice president of human resources, and ALLEN WALKER as senior vice president of organizational...

Grange Mutual Casualty Group.(Life)(appointment of Michelle Benz)(Brief article)
October 1, 2008... The Columbus, Ohio-based GRANGE MUTUAL CASUALTY GROUP has named MICHELLE BENZ as president of its life insurance company. Benz will supervise GRANGE LIFE INSURANCE CO.'s life product, marketing and sales operations. She succeeds Tom Welch,...

Allianz Life Insurance Co. of North America.(Life)(appointment of Giulio Terzariol)(Brief article)
October 1, 2008... ALLIANZ LIFE INSURANCE CO. OF NORTH AMERICA has named GIULIO TERZARIOL chief financial officer. An employee of the Minneapolisbased life insurer since May 2007, Terzariol will be in charge of the company's financial planning, reporting and...

Former Southern Guaranty CEO named Alabama commissioner.(People in Insurance)(Alabama. Department of Insurance appointed Jim L. Ridling )(Brief article)
October 1, 2008... Former Southern Guaranty Chief Executive Officer Jim L. Ridling took the reins as commissioner of the Alabama Department of Insurance Sept. 15, replacing the recently resigned Walter Bell. [ILLUSTRATION OMITTED] Alabama Gov. Bob Riley...

Solve the puzzle.(ADVERTISING)(Lincoln Financial Group signed a deal with 22squared Inc.)(Brief article)
October 1, 2008... LINCOLN FINANCIAL'S newest move in its "futureself" ad campaign, which launched in 2007, is helping solve the puzzle. Lincoln Financial partnered with ad agency 22squared to design its latest ads next to and around the Wall Street Journal...

Gas caps.(PROMOTIONS)(Brief article)
October 1, 2008... [ILLUSTRATION OMITTED] IN AN ERA OF escalating gas prices, one insurer recently helped funnel a solution to the situation. This summer, Infinity Insurance, which is part of Infinity Property and Casualty Corp., began partnering with...

At The Insurance Marketing and Communications Association's 2008 Showcase Awards, The Hartford Financial Services Group, Liberty Mutual Group and Farmers Insurance Group each won four "Best of Show" awards.(MARKETING)(Brief article)
October 1, 2008... AT THE INSURANCE MARKETING AND COMMUNICATIONS ASSOCIATION'S 2008 Showcase Awards, The Hartford Financial Services Group, Liberty Mutual Group and Farmers Insurance Group each won four "Best of Show" awards. Liberty Mutual received the coveted...

Zurich serves tech builders.(SPOTLIGHT)(Zurich North America Insurance Co. launched the web site www.techinsurance.zurichna.com)(Brief article)
October 1, 2008... Zurich in North America has launched a distributor-focused Web site (www.techinsurance.zurichna.com), which serves as a central source for the latest news, in-depth information and educational resources about the profitable insurance business...

New Hartford policy insures cyber risks.(Property/Casualty)(Hartford Financial Services Group Inc.)(CyberChoice 2.0)(Brief article)
October 1, 2008... [ILLUSTRATION OMITTED] With information-sharing on social-networking sites an emerging liability threat for organizations, businesses and universities, The Hartford Financial Services Group has developed CyberChoice 2.0 to help safeguard...

Universal policy features cash rider.(Life)(John Hancock Life Insurance Co.)(Brief article)
October 1, 2008... John Hancock Life Insurance Co. has launched Protection UL-G, which features a Cash Value Advantage rider, a new fixed loan rate and reductions in limited-period guarantee premiums. The rider provides a solution for owners who want a guaranteed...

Estate resolution added to benefits.(Employee Benefits)(MetLife Insurance Co.)(Brief article)
October 1, 2008... MetLife has added estate resolution services as a standard feature to its supplemental term life, group universal life and group variable universal life insurance coverages in states that have approved the feature. Offered through Hyatt Legal...

Liberty enhances disability Web site.(Technology)(Liberty Mutual Insurance Co. enhances the websites MyLibertyConnection.com)(Brief article)
October 1, 2008... Liberty Mutual Group Benefits, part of Liberty Mutual Group, launched several enhancements to its Web capabilities to give customers even more control over their benefits. Available at MyLibertyConnection.com, the expanded Web tools at...

HSAs in retirement.(SNAPSHOT)(Health savings accounts)(Brief article)
October 1, 2008... Heath Savings Accounts may play only a minor role in covering retirees' medical expenses. $2,200 Minimum family deductible in required high-deductible health plan in 2008 12.5 million Individuals in high-deductible health plans in 2007...

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

Victory lane: insurers are racing into motorsports sponsorships to turbocharge both brand awareness and consumer outreach.(Property/Casualty: Auto Package)
October 1, 2008... [ILLUSTRATION OMITTED] When Carl Edwards took the checkered flag at the Samsung 500 at the Texas Motor Speedway in April, he wasn't the only one enjoying a winning moment. An insurance company shared the glory as millions of NASCAR fans...

Under pressure: with severity costs rising, auto insurers are trying to steer clear of rate hikes.(Property/Casualty: Auto Package)
October 1, 2008... [ILLUSTRATION OMITTED] Motorists may be driving less, but it's still not enough to reverse a decade-long trend of rising severity costs for private passenger automobile claims. Inflationary pressure on medical costs and car repair...

Ad wars: auto insurers' marketing efforts are accelerating like never before.(Property/Casualty: Auto Package)(advertising)
October 1, 2008... [ILLUSTRATION OMITTED] Armed with its trademark gecko and sensitive caveman types, Geico has set the pace in ad spending for private-passenger auto insurance since 2003. The Berkshire Hathaway-owned company also has increased its...

The new game: Progressive's MyRate plan may remake the auto insurance landscape.(Property/Casualty: Auto Package)
October 1, 2008... [ILLUSTRATION OMITTED] Discounts for drivers who take "Big Brother" along for the ride could shift the competitive focus in the market for private-passenger automobile premiums. Gains in technology and less consumer fear over privacy...

Out on a limb: New Jersey recently established the Territorial Rating Equalization Exchange, also known as TREE. Could it be the answer to affordable auto insurance in the Garden State?(Property/Casualty: Auto Package)
October 1, 2008... New Jersey has wrestled with the high cost of automobile insurance for more than 30 years. Still, the true cost of insuring vehicles remains extremely high in the most congested areas, where losses tend to be higher and more frequent. These...

4 ways to control drug costs: by following new business strategies, no-fault auto insurers can manage rising medication prices.(Property/Casualty: Auto Package)
October 1, 2008... Medication expenses already account for approximately $3.26 billion of the total medical costs associated with auto accidents each year, according to a recent study by the National Highway Traffic and Safety Administration. Thanks to factors...

Top 25 U.S. commercial auto writers.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 U.S. Commercial Auto Writers Ranked by 2007 direct premiums written. ($ Thousands) 2007 Direct Premiums % Change in Rank Company/Group...

Top 25 U.S. auto liability writers.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 U.S. Auto Liability Writers Ranked by 2007 direct premiums written. ($ Thousands) 2007 Direct Premiums % Change in Rank Company/Group ...

Top 25 U.S. auto physical damage writers.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 U.S. Auto Physical Damage Writers Ranked by 2007 direct premiums written. ($ Thousands) 2007 Direct Premiums % Change in Rank...

Top 25 U.S. private-passenger auto writers.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 U.S. Private-Passenger Auto Writers Ranked by 2007 direct premiums written. ($ Thousands) 2007 Direct Premiums % Change in Rank...

Top 25 U.S. total auto writers.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 U.S. Total Auto Writers Ranked by 2007 direct premiums written. ($ Thousands) 2007 Direct Premiums % Change in Rank Company/Group ...

Top 25 auto writers--Canada, 2007.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... Top 25 Auto Writers--Canada, 2007 Ranked by 2007 direct premiums written. (C$ Thousands, US$1 =C$0.9881 as of Dec 31, 2007) 2007 Direct Premiums Rank Company/Group AMB # ...

U.S. total all auto lines--top writers by state.(Property/Casualty: Auto Package)(Statistical table)
October 1, 2008... U.S. Total All Auto Lines--Top Writers by State Ranked by 2007 direct premiums written. ($ Thousands) No. Direct % of Premium of Premiums U.S. % State Rank Cos....

U.S. auto liability--top writers by state.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... U.S. Auto Liability--Top Writers by State Ranked by 2007 direct premiums written. ($ Thousands) No. Direct % of Premium of Premiums U.S. % State Rank Cos. ...

U.S. auto physical damage--top writers by state.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... U.S. Auto Physical Damage--Top Writers by State Ranked by 2007 direct premiums written. ($ Thousands) No. Direct % of Premium of Premiums U.S. % State Rank Cos....

U.S. private-passenger auto--top writers by state.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... U.S. Private-Passenger Auto--Top Writers by State Ranked by 2007 direct premiums written. ($ Thousands) No. Direct % of Premium of Premiums U.S. % State Rank ...

U.S. all commercial auto--top writers by state.(Property/Casualty: Auto Package)(Statistical table)(Company rankings)
October 1, 2008... U.S. All Commercial Auto--Top Writers by State Ranked by 2007 direct premiums written. ($ Thousands) No. Direct % of Premium of Premiums U.S. % State Rank Cos. ...

We've met the enemy: we're it: when the market turns downward, underwriting discipline can mean the difference between profit and loss.(Property/Casualty: Underwriting Insight)
October 1, 2008... The recent crisis in the financial world has introduced us to a number of new terms and acronyms. A year ago, who had even heard of a collateralized debt obligation, let alone been able to explain it? But the recent struggles of the...

Control issues: the once-vaunted career-agent system has given way to FINRA's network of broker/dealers.(Life: Selling Insight)
October 1, 2008... Do you remember the famous James Carville line from Bill Clinton's 1992 presidential campaign, "It's the economy, stupid!"? His point was that all other issues raised in the campaign were tangential to the real issue of the economy. Today,...

L/H portfolios performed well in 2007; investments stay concentrated in bonds.(Life: Asset Management)(life/health )
October 1, 2008... Life/Health insurers, and particularly life insurers, invest for the long term, so their investment portfolio asset allocations do not change much year-to-year. "Life insurers remain fixed-income investors, so you're going to see a very...

Conservative investing keeps P/C insurers safe from crisis in mortgage securities.(Property/Casualty: Asset Management)
October 1, 2008... Property/casualty insurers tend to take very little investment risk due to restrictive state regulatory guidelines, said Edward Keane, a senior financial analyst with A.M. Best Co. They also are reluctant to take on added investment risk...

Avoiding further regulatory chaos: a common global framework could lead to more consistency between regulatory and public reporting principles.(Life: Management Insight)
October 1, 2008... Recent decisions by the International Accounting Standards Board have further delayed its long-running effort to define accounting principles for insurance contracts. The board expects to issue an exposure draft in late 2009. A final...

Covering the bases: from spring training to the World Series, insurers come to bat for Major League Baseball.(Cover story)
October 1, 2008... [ILLUSTRATION OMITTED] As baseball fans settle in to watch the World Series this month, a small, scattered group of experts will be following the action from afar, alert for signs that a pitcher's elbow may be about to pop or a catcher's...

The soft side of risk management: the current financial crisis has its origins in the rules of the game.(Property/Casualty: Loss/Risk Management Insight)
October 1, 2008... Three principal causes of our current financial troubles are deeply embedded in the way that corporations--especially those in the financial sector--are governed. Unless the rules change, we can safely expect that this crisis won't be the last...

The road to November.(Regulatory/Law: Elections)
October 1, 2008... [ILLUSTRATION OMITTED] Next month's elections may be pivotal for insurers and insurance issues. Americans have two Presidential candidates who promise "change." For Congress, 10 seats are up for grabs on the powerful House Financial...

The new invincibles: they're tech-savvy, pampered and want what they want--and Gen Y has employers and insurers trying to please this soon-to-be-dominant work force.(The New Generation: Agents and Their Customers)(generation y)(Survey)
October 1, 2008... [ILLUSTRATION OMITTED] They are called many things: Generation Y, Millennials, Echo Boomers, even Generation X on steroids. They've been described as demanding, questioning, aggressive, high-maintenance and less-than-loyal job-hoppers. ...

'Y' new technology: because that's how the millennial generation wants to connect with insurance companies.(The New Generation: Agents and Their Customers)(Survey)
October 1, 2008... [ILLUSTRATION OMITTED] In a world where rotary telephones, video cassette recorders and Commodore 64 computers are virtually as extinct as dinosaurs, millennials are looking at technology very differently than generations before them. ...

The tomorrow people: the Big I's youth program helps young agents survive, and even thrive, in the insurance industry.(The New Generation: Agents and Their Customers)(Independent Insurance Agents and Brokers of America )(Column)
October 1, 2008... [ILLUSTRATION OMITTED] At age 32, insurance agent Doug Jensen of Billings, Mont., has already held a handful of leadership positions in the industry, and he plans to hold more. An immediate past president of Montana's Young Agents...

No time like now: the climate right to take a strategic approach to risk management.(Agent/Broker: Selling Insight)
October 1, 2008... In many ways, this is a benign environment for buyers of large casualty programs. Risk-related pricing has moderated. Workers' compensation insurance prices declined in 2007, and legislative reforms--particularly in California and Florida--have...

Consider the cut: before trimming claims expenses, insurers should analyze how future losses and expenses are impacted.(Regulatory/Law: Litigation)
October 1, 2008... Hard and soft market cycles are a reality of the insurance business, and property/casualty carriers today are positioning themselves to weather the new soft market. If the past is a guide, carriers will concentrate on underwriting and...

Waive goodbye to reserved rights: a Kansas court finds a blanket statement has some holes.(Regulatory/Law: Legal Insight)(United States Fire Insurance Co. v. Bunge North America Inc.)
October 1, 2008... For insurers, no four-letter word is as bad as the five-letter word "waive," particularly when waive is applied to the insurer's reservation-of-rights letter. Insurers therefore will want to read the August 2008 decision from the District...

Analyze this: health insurers can predict claims risks by studying policyholders' hobbies and grocery bills.(Health/Employee Benefits: Claims Costs)
October 1, 2008... [ILLUSTRATION OMITTED] Given the extensive research into the effects of lifestyle factors on health, actuaries and insurers are investigating the possibility of using commercially available lifestyle data to price and deliver...

Future tense: insurers reach out to the many women who still aren't prepared for retirement.(Life: Retirement Planning)(Column)
October 1, 2008... [ILLUSTRATION OMITTED] Like many women, Eileen McDonnell interrupted her career to care for family. First, she left her job with Guardian Life Insurance Company to provide home hospice for her father. Later, while working for New England...

2008 technology resources guide: insurance companies need to keep up with the latest technology innovations. The following is a sample of companies that offer products and services aimed at the special needs of the insurance industry.(Technology)(Directory)
October 1, 2008... ACORD Two Blue Hill Plaza, Third Floor P.O. Box 1529 Pearl River, NY 10965-8529 845-620-1700 www.acord.com AQS Inc. 1325 Walnut Ridge Drive Hartland, WI 53029 262-369-7500 www.aqssys.com ...

Moving forward with new ideas: insurers are becoming more agile in both business and IT.(Technology: Technology Insight)(information technology)
October 1, 2008... An interesting observation from The Enterprise of the Future: The IBM Global CEO Study 2008 is the extent to which the executives from all industries surveyed believed that change was a predominant factor of their future. As could be...