Facing a Hardening Workers’ Comp Market

By Frank Pennachio  From the January 2012 issue of American Agent & Broker

As 2012 begins, the workers’ compensation market is turning back toward increased costs and reduced capacity. this presents challenges, from explaining rate increases to finding a home for clients. Learn how to take action.  read more..

Does Your Legislator Understand You?

By Rep. George J. Keiser   December 20, 2011

Let’s gather together:

38 mayors, 24 health care professionals, including veterinarians, dieticians and pharmacists, Three organic farmers, Three ranchers, Three vintners, Two former pro athletes, Six scientists, Five accountants, four ministers, Four sheriffs.

Throw in a mountain guide, an auto worker, coroner, shellfish specialist, tugboat captain, driving instructor, auctioneer, toll booth collector, cosmetics salesperson and iron worker. Fill out the roster with even more diverse occupations and you’ve just assembled the current 111th Congress. Not an insurance professional among them.  read more..

ADA Amendments: Broader Definition Likely to Cause Spike in Claims

By Chad Hemenway, PropertyCasualty360.com
From the December 5-12, 2011 issue of National Underwriter P&C

Steps taken by federal officials to broaden the definition of “disability” is putting pressure on employers—and insurers are forecasting an increase in employment-practices liability (EPLI) claims.  read more..

Holiday Schedule

Friday, December 30—Closed
Monday, January 2-Closed

Eyes on the Road: NTSB Calls for Ban on Personal Electronic Devices

By Chad Hemenway, PropertyCasualty360.com
December 14, 2011

NU Online News Service, Dec. 14, 12:26 p.m. EST

After reviewing a fatal accident that occurred more than a year ago, the National Transportation Safety Board (NTSB) is calling for a nationwide ban on the non-emergency use of personal-electronic devices while driving.  read more..

Educational Article Series Part 4: Program Business—From Submission to Finish Line

Part 4: Taking the Approved Insurance Program 'Live'

By Timothy J. Harkins  December 9, 2011

Bringing a new insurance program to market is an exciting time for the program’s agency and staff, as well as their carrier partner.   read more..

Educational Article Series Part 3: Program Business—From Submission to Finish Line

Part 3: Financial Modeling and Negotiating a Finalized Program

By Archie McIntyre  November 11, 2011

Successful dedicated insurance programs depend on many factors, not the least of which is excellent communication between the program’s agency and its new carrier partner.  read more..

EEOC Eye-Openers

By Chad Hemenway, PropertyCasualty360.com
From the December 5-12, 2011 issue of National Underwriter P&C

Insurers, agents and risk managers need simply visit the U.S. Equal Employment Opportunity Commission (EEOC) Web site for a quick look at what’s at stake in terms of the cost of EPLI claims—which are predicted to increase in number based on the Americans with Disabilities Act Amendments Act.  read more..

Ten Ways to Reduce Claims Costs Now

Effective Data-Driven ApproachesBy Staff Writer
From the December 2011 issue of Claims Magazine

In today’s economy, where consumers are focused on value for money, property and casualty (P&C) insurers perpetually strive to reduce the cost of handling claims. Among other techniques, this usually involves an enhanced focus on streamlining business processes and tackling fraud. Carefully managing outsourcing options and suppliers are other common ingredients in an insurer’s overall solution.  read more..

Customers and the Claims Value Chain

Aligning Business Strategy with Technology CapabilitiesBy Tom Harrington
From the December 2011 issue of Claims Magazine

The role that claims management functions play in an insurer’s long-term strategy has changed dramatically. No longer are claims cost or expense metrics the primary measures of a successful claims organization. The ability to provide a highly consistent and personalized claim service experience is a must for insurance carriers in both high- and low-frequency claims environments. Just watch any given NFL football game to see that the policyholder is king, and that claims service is now an essential cog in their value proposition.  read more..

Everything In Its Right Place

Relocation of Insureds and ALEBy Christine G. Barlow
From the December 2011 issue of Claims Magazine

Additional Living Expense (ALE) coverage is one of those broad coverages that can bedevil adjusters, agents, and insureds alike. Even so, it is one of my favorite topics.

So just what exactly makes a residence “unfit to live in”? Must the entire house or merely part of the dwelling be uninhabitable? A recent question concerns a family with a covered water loss. Although the house is intact, the health department has deemed the water supply no longer safe because of the water leak.  read more..

A Forensic Accountant’s View of Business Interruption

Catastrophes and Expeditious Claims EvaluationBy Bruce D. Smith
From the December 2011 issue of Claims Magazine

The Association of Certified Fraud Examiners (ACFE) explains that, “forensic accounting is the use of professional accounting skills in matters involving potential or actual civil litigation.” The word “forensic” is defined by Black’s Law Dictionary as “used in or suitable to courts of law or public debate.”  read more..

EDRs for the Claims Adjuster

Determine Today’s Liabilities and Subrogation OpportunitiesBy Peter A. Lynch, Paul Blanchard
From the December 2011 issue of Claims Magazine

Originally used in the aircraft industry, event data recorders (EDRs), commonly known as “black boxes,” are now incorporated in a variety of consumer products, ranging from household appliances and alarm panel systems to cars and copiers. Recording a final data picture just before a product fails, EDRs are tamper-proof with a read/write memory device that unobtrusively captures a variety and wealth of product information that may be useful to an adjuster evaluating subrogation arising from a loss.  read more..

Upstaging the Staged Accident

By Christopher Tidball  November 29, 2011

Staged accidents are on the rise globally. While the insurance industry has always been a magnet for fraud, the ability to stage accidents (and successfully get paid) makes it a multi-billion-dollar proposition.  read more..

Collaborating in Claims

A Technological Solution
By Patti Griffin  December 2, 2011

Even for insurers that have attained high levels of efficiency, claims management and processing remains a complex, difficult endeavor. Each claim requires the involvement of different professionals, many of them in varied locations, and many with widely varying degrees of technological sophistication. At many insurers, there are deep pockets of expertise within the claims workforce, but finding and accessing that expertise may not always be easy.  read more..

Managing Social-Media Risks— A Critical Task for 2012

LinkedIn, et al. can be a valuable asset in the hiring/firing process—but also add liability

By Michelle Strickland
From the December 5-12, 2011 issue of National Underwriter P&C

Without question, social media has revolutionized not only the way we connect with friends and family but also how we conduct business, including the hiring, discipline and termination of any business’ most valuable asset—its employees.  read more..

EPLI Risk-Management Survival Guide

Top 10 steps to take for federal & state compliance in 2012

By Gerald L. Maatman Jr.
From the December 5-12, 2011 issue of National Underwriter P&C

Employers inhabit a complex environment when it comes to human-resources statutes. Federal, state and local laws and regulations are in a constant state of evolution.  read more..

Self-Service Claims Innovation

By Christopher Tidball    November 17, 2011

Innovation and technology have played remarkable roles in the lives of millions. Think about where we would be without our smartphones, tablets, and the Internet. From a claims perspective, consider where we are today when compared to the manual processes of just a few short years ago. While this may seem amazing, the steps in our industry have paled in comparison to others in the marketplace.  read more..

Lengthy Sessions and Notable Changes in Midwest

A Glimpse at Legislative Activity

By Kathy Donovan    November 14, 2011

The winding down mode has started. Local malls are already decked out for the holidays, and the retail industry is awaiting the much anticipated and beloved “Black Friday.” In the insurance industry, those essentially year-long legislative sessions, while already having delivered gifts wrapped up as “acts,” still hold potential holiday surprises. A brief look back at some enacted bills in Midwestern states with lengthy sessions—Illinois, Michigan, and Wisconsin—provides us with some key changes, as well as anticipation of what might be in store in the coming months.  read more..

Enacting ERM Regulation

NAIC Moves ORSA Forward

By Denise Tessier    November 22, 2011

During the past 15 months, as part of the NAIC’s Solvency Modernization Initiative (SMI), the NAIC has been developing requirements for all insurance companies regulated in the U.S. to conduct an Own Risk and Solvency Assessment (ORSA), and report their enterprise risk management (ERM) practices and related findings to their respective regulators.  read more..

Employees Want Employer Help with Benefits, Health Planning

By Phil Gusman, PropertyCasualty360.com  November 21, 2011
NU Online News Service, Nov. 21, 1:50 p.m. EST

Nearly three-quarters of consumers are worried about being able to afford health care now and in the future, and they want employers to do more to help them get the most out of wellness programs to help hold down costs, according to a new survey.  read more..