Imagine having your hands in so many industries that it’s possible to point to specific first-hand references when speaking of the nation’s economic condition—right down to the sale of machinery parts. read more..
Wednesday, October 31, 2012
Sunday, October 28, 2012
What Customers Expect Now When Filing a Claim
October 8, 2012
Insurers who provide a highly satisfying customer experience benefit from higher customer retention, reduced costs in acquiring new customers, and more word-of-mouth referrals compared to insurers that deliver less satisfying experiences to their customers. read more..
Saturday, October 27, 2012
Small-Business Consumers Need to See the Light About Claims Process
October 8, 2012
If processing a claim is indeed the moment of truth in an insurer’s relationship with customers, why are small-business consumers apparently being kept in the dark when it comes to how a loss will be handled? read more..
Friday, October 26, 2012
New Courses Target Cat, Workers' Comp Claims Handling
By Staff Writer
October 15, 2012
Driving successful claims outcomes begins with a solid education in the fundamentals. To this end, The Institutes has developed two new courses to equip claims professionals with the knowledge to facilitate accurate, timely, and efficient handling of catastrophe and workers’ compensation claims.
read more..
read more..
Thursday, October 25, 2012
Thinking Beyond DRP to Deliver Better Service
October 10, 2012
New developments in computing and software technologies, smartphones and apps provide consumers with an increasing number of options to complete routine tasks. Consumers enjoy convenience, while service providers achieve efficiencies, savings and increased customer satisfaction. read more..
Wednesday, October 24, 2012
Unlock the Value of Your Recorded Statements
October 8, 2012
Recorded statements are required for a good claims file, but have traditionally been difficult to manage, access, and use as a strategic data asset. That’s beginning to change. As technology advances and costs decrease, leading insurers are using solutions that not only record and store statements, but drive better claims decisions. read more..
Tuesday, October 23, 2012
Salvage Solutions to Maximize Claims Recoveries
October 8, 2012
Increase your claim recovery values for salvage goods in a fraction of the time it takes with a typical process. Insurance companies don’t have to settle for local bids or leave the salvage with the insured for pennies on the dollar. Connect with SalvageSale and auction your damaged equipment and cargo online to receive significantly higher recoveries. Salvage buyers willing to pay top dollar for damaged goods are readily accessible via SalvageSale’s online auction marketplace. read more..
Monday, October 22, 2012
Pre-Event Risk Planning: A Long Way from “Skyball Catch”
Since the 1938 event, risk management--like baseball--has evolved into a much more sophisticated game.
October 9, 2012
In 1938, Zurich North America (then Maryland Casualty Co.) wrote public liability coverage for a record-setting event where a professional baseball player dropped a series of balls from the top of a 708-foot tower to teammates scattered below. read more..
Sunday, October 21, 2012
Educate the High Net Worth Customer
Helping affluent personal lines clients make smart insurance choices is smart business for independent agents.
October 3, 2012
Executives and other successful people typically accumulate their wealth over time and do not consider how their exposures have changed from year to year. When these individuals ultimately turn to independent agents and brokers for help, it’s often on the heels of an unpleasant situation—a mishandled claim or the inability to secure coverage on an important asset. read more..
Saturday, October 20, 2012
5 Scary Risks
Jack-o'-lanterns, pets and zombies invite risks
October 8, 2012
Halloween is a fun time of year with costumes, pumpkins and decorations. But what makes Oct. 31 so entertaining also makes the holiday dangerous. Click through the gallery to learn more about five Halloween risks and how to avoid them. read more..
Friday, October 19, 2012
Who Thought of That? Putting the Crowd to Work
October 12, 2012
How do we solve problems? How do we think of innovation, get new ideas, and think beyond the suggestion box? read more..
Thursday, October 18, 2012
Who Insures a Driverless Car?
October 1, 2012
Last Tuesday, California became the third state to legalize driverless cars, a concept automobile under development by Google that could one day revolutionize the way we drive. But the development raises a host of liability questions for insurers. read more..
Wednesday, October 17, 2012
Could Policies Written in Greek End Up Being Trojan Horses?
September 29, 2012
Would you ever drive a car while wearing a blindfold? How about signing a contract that could make or break your business without reading it? Most probably would not be so reckless. Yet many small-business consumers buy insurance coverage without having a clue as to what their policies actually say--and appear to be anything but happy about that state of affairs. read more..
Tuesday, October 16, 2012
Negligence and Hacking Attacks Top Cyber Liability Concerns
October 5, 2012
With ‘Anonymous’ hackers and negligent mistakes affecting even the biggest business entities, the importance of cyber liability insurance is increasingly becoming apparent. PC360 spoke with Michael Palotay, senior vice president of underwriting at NAS Insurance Services, about important trends in cyber liability insurance and what to look out for when assessing a company’s risk. read more..
Monday, October 15, 2012
4 Business Benefits to Having Credit Insurance
Most companies insure virtually every aspect of their businesses but neglect their accounts receivables. Show your customers how they can benefit from having this coverage.
September 26, 2012
The ongoing economic crisis is driving sales of a product that is new to many agents: trade credit insurance. This product, used extensively overseas but underutilized in the U.S., presents agencies with a great opportunity. read more..
Sunday, October 14, 2012
Partnering for Crime Prevention
More focus aimed at eliminating some of the massive medical fraud directed at the p&c industry.
September 27, 2012
The recent announcement by the Department of Health and Human Services and Department of Justice to form a National Fraud Prevention Partnership to address healthcare fraud is a step in the right direction. It's good to see industry groups such as the National Insurance Crime Bureau (NICB), Coalition Against Insurance Fraud (CAIF) and National Health Care Anti-Fraud Association (NHCAA) standing side by side with health and p&c insurers, as well as government agencies.
read more..
read more..
Saturday, October 13, 2012
Multiple Buildings, One Policy: The Vacancy Clause
September 26, 2012
Questions regarding coverage for vacant buildings come up frequently in the FC&S Ask the Experts queue. The following examples illustrate two different outcomes regarding multiple buildings insured under one policy. read more..
Friday, October 12, 2012
Opioids Driving Workers’ Comp Costs, Lockton Says
September 25, 2012
Prescription opioids are a major reason for the skyrocketing cost of workers’ compensation insurance, as evidence points to harmful consequences from the long-term use of the medication, says a report from insurance broker Lockton. read more..
Thursday, October 11, 2012
Could Reinsurers' Bundling of Risks Lead to a Financial Debacle?
September 25, 2012
As the reinsurance industry finds itself changing to meet the growing demand for cedents’ expanding appetite for risk, a study questions whether current underwriting practices could one day expose reinsurers to a financial debacle. read more..
Wednesday, October 10, 2012
CFA: Non-Driving Rating Factors Unfairly Weighted in Auto Quotes
September 24, 2012
Rating factors that have little to do with an individual’s driving abilities appear to have considerable bearing on the price consumers pay for auto insurance, a report from Consumer Federation of America asserts. read more..
Tuesday, October 9, 2012
Study: Homeowners Claim Costs Rising as Both Frequency and Severity Increase
September 26, 2012
Increases in claim severity and, more recently, frequency are responsible for a 7.4 percent annualized rate of increase in homeowners claims costs from 1997 to 2011, the Insurance Research Council says in a new study. read more..
Monday, October 8, 2012
I.I.I. Challenges CFA Auto Report by Pointing to Lower Consumer Costs
September 28, 2012
On the heels of a Consumer Federation of America report charging that auto insurers put too much weight on non-driving rating factors, the Insurance Information Institute released figures showing that insurers’ use of a wide range of rating factors has held down consumers’ expenditures on auto insurance. read more..
Sunday, October 7, 2012
Keeping an Eye on Things: The Scary Part of Telematics
Many are excited by the lure of lower rates from usage-based insurance, but how low can they go?
September 21, 2012
Disruptive is a word tossed around a lot in the world of insurance technology, but it’s difficult to argue with Deloitte Consulting’s Steve Packard—and others—that the use of telematics to make up what is known as usage-based insurance (UBI) fits that description. read more..
Saturday, October 6, 2012
Help Customers Create a "Culture of Preparedness"
A look at the Exxon Valdez disaster underlines the importance of bringing risk management into every aspect of your customer’s culture and operations.
September 19, 2012
By Kevin McPoyle, CIC, president and cofounder, KMRD Partners, Inc.
It seems so simple: Execute each task with care and consideration, and unintended consequences can be anticipated. This rule can be applied across a broad spectrum of actions—from backing a car down the driveway to picking up a pallet with a forklift and moving it across a warehouse floor. read more..
It seems so simple: Execute each task with care and consideration, and unintended consequences can be anticipated. This rule can be applied across a broad spectrum of actions—from backing a car down the driveway to picking up a pallet with a forklift and moving it across a warehouse floor. read more..
Friday, October 5, 2012
Multitask, Schmultitask: I'm Going to Single Task
The Insurance Ninja shares a dirty little secret: Doing multiple things at the same time means you are working subpar on everything you do.
September 20, 2012
By Anson Thompson, insurance ninja
What seemed like a good idea a few years ago now seems like poop soup. For the last 10 years of my life, I have been very proud of my ability to multitask: doing multiple things at the same time. But at age 43, I'm starting to really analyze my life and find myself asking, "Is this the best possible way I can live my life?" read more..
Thursday, October 4, 2012
Medicare Secondary Payment Bill Moves Forward; Enjoys Wide Support
September 20, 2012
A House panel today reported out legislation that would streamline enforcement of the Medicare Secondary Payment program. The legislation, H.R. 1063, is the SMART Act, or The Strengthening Medicare and Repaying Taxpayers Act. read more..
Wednesday, October 3, 2012
As Mobile Devices Catch On with Businesses, Data Breach Risks Grow
September 18, 2012
The rise of mobile devices has created uncertainties regarding what authority a company has over an employee’s personal device if it is also used for work-related activities, and what actions a company must take if a device is lost or stolen, according to experts. read more..
Tuesday, October 2, 2012
Top 10 Car Technologies for Mature Drivers
From smart headlights to reverse monitoring features, new technology is increasingly popular with older drivers.
September 19, 2012
Smart headlights, emergency response systems and reverse monitoring features rank highest in car technologies that enhance the abilities and promote safe driving for older motorists, according to a new study by The Hartford and MIT AgeLab. read more..
Monday, October 1, 2012
Bill Exempting Agent Commissions from MLR Passes Committee, but Faces Hurdles
September 20, 2012
Legislation that would exempt agent commissions from the medical loss ratio (MLR) calculation mandated under the healthcare-reform law passed a House committee today. The bill is H.R. 1206. It is sponsored by Rep. Mike Rogers, R-Mich., and Rep. John Barrow, D-Ga. It was introduced last March. read more..
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