Most Clicked PCI SmartBrief Stories
1. Hartwig: P/C insurers must adapt to secure underwriting profit
PCI SmartBrief | Feb 10, 2012
Property/casualty insurers must adapt to the evolving insurance business instead of anticipating a hard market and relying on investment earnings to secure underwriting profit, Insurance Information Institute President Robert Hartwig writes. Insurers will need to avoid unprofitable business when their bottom line is under pressure, Hartwig writes. "When insurers behave in this economically rational manner, they won't have to worry about whether a hard market is on its way," he writes. Insurance Journal (02/09)
2. Study: Red-light cameras offer no help in securing road safety
PCI SmartBrief | Feb 13, 2012
A study by researchers at the University of South Florida found that red-light cameras don't help improve road safety, contradicting the results of research by the Insurance Institute for Highway Safety showing that the cameras help prevent fatal crashes. IIHS research "looked at a lot of different cities over time and over a large area," said Russ Rader, spokesman for the institute. "The bottom line is that there is a body of research and compelling evidence that red-light cameras are effective," Rader said. Tampa Tribune (Fla.), The (02/12)
3. Expert: Carriers need strong underwriting despite tech advances
PCI SmartBrief | Feb 13, 2012
The insurance industry has benefited from predictive modeling and other advances in technology, but successful carriers still need to depend on skillful underwriting, says Bob Shine, chief underwriting officer at XL Insurance. "The best way to make money from an underwriting perspective is to take all the analytics, take all the information you can get ... and make better decisions," Shine says. Business Insurance (02/12)
4. Can Wacky Employee Perks Help You Retain Your Staff?
PCI SmartBrief | Feb 13, 2012
OPEN Forum blogs (02/12)
5. NCOIL panel aims to tackle workers' comp repackaged drugs
PCI SmartBrief | Feb 14, 2012
The National Conference of Insurance Legislators Workers' Compensation Insurance Committee is scheduled to meet this month to discuss the rising costs caused by the dispensing of repackaged drugs by physicians. Florida Insurance Commissioner Kevin McCarty and a PCI representative are expected to speak at the meeting. The committee could develop model legislation that states could follow on the issue of repackaged drugs. RiskAndInsurance.com (02/13)
6. P/C insurers must curb costs to overcome hurdles, report says
PCI SmartBrief | Feb 15, 2012
Property/casualty insurers need to reduce costs to secure financial success amid a poor economy and elusive organic growth, a Conning Research report says. "Our findings are that the industry generally has increased underwriting and claims costs relative to premiums. Investments in operating capabilities, technology, and intellectual capital increased overall costs for insurers," the report says. Insurance Networking News (02/14)
7. Survey: Few plan to sell amid expected flurry of M&A activity
PCI SmartBrief | Feb 09, 2012
The property/casualty insurance industry can expect a busy year of mergers-and-acquisitions activity as many finance chiefs look to acquire a company or a block of business, according to a Towers Watson survey. Targets for acquisition, however, could be difficult to find, the survey indicated. "[A] deeper examination suggests that respondents are looking at M&As very strategically, with attractive pricing a secondary consideration," Towers Watson said. PropertyCasualty360.com (02/08)
8. President's budget seeks to end offshore reinsurance-tax exemptions
PCI SmartBrief | Feb 14, 2012
The Obama administration has unveiled its fiscal 2013 budget proposal, which suggests ending tax exemptions for reinsurance premiums ceded by domestic insurers to their offshore affiliates. Such incentives "can result in substantial U.S. tax advantages over similar transactions with entities that are subject" to U.S. tax, the Treasury Department said. "These tax advantages create an inappropriate incentive for foreign-owned domestic insurance companies to reinsure U.S. risks with foreign affiliates," the department added. Business Insurance (02/13)
9. Long-term extension of NFIP is backed by 41 senators
PCI SmartBrief | Feb 15, 2012
Forty-one senators are urging the passage of a long-term reauthorization of the National Flood Insurance Program. "This strong, bipartisan support in the Senate underscores the sense of urgency for passing a long-term solution for the National Flood Insurance Program. Millions of American home and business owners rely on flood insurance in every state. This is not just a coastal concern," PCI's Ben McKay said. PropertyCasualty360.com (02/14) Hill, The (02/14)
10. Survey: P/C insurers see improvement in customer satisfaction
PCI SmartBrief | Feb 15, 2012
Customers are more satisfied with property/casualty and life insurers this year, according to a survey by Temkin Experience Ratings. P/C and life insurers boosted their score by 5.3 percentage points this year, the survey found. Insurance Networking News (02/14)
Sign up for PCI SmartBrief
