National Section

Declarations

Insurance Scams “Sadly, senior citizens are among our most vulnerable targets for insurance and financial fraud.” —New Jersey Dept. of Banking and Insurance Commissioner Ken Kobylowski’s comment during a consumer awareness meeting with senior citizens in Sayreville, N.J., on Oct. …

Perpetuation Planning – Part One

Long before owners want to retire, perpetuation planning should begin. The four major techniques to transfer ownership of a business are: Internal sale to key employees, including family members. Sale of the business to an outside firm. Merging with another …

P/C Insurers’ Net Income Rose in First-Half of 2014

U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower gains on both underwriting and investments. Net …

New Technology on Vehicles Is Working to Reduce Crashes

Autonomous or “driverless” cars generate a lot of media buzz because of the public’s fascination with new technology and what vehicles may be like in the future. Yet, there’s a revolution underway that is changing vehicles right now that has …

Three ‘Common Sense’ Tactics for Commercial Lines Prospecting

Prospecting for fresh insurance leads is the soil of sales. And as any horticulturist can tell you, good earth is required to grow anything – including your agency. You can delegate this core function to a third party and buy …

10 Things to Know About Commercial Property

Prices for commercial property insurance fell during the second quarter of 2014, marking the first time in three years that property prices fell, according to a recent Towers Watson survey. The survey showed that over half of commercial property respondents …

How Brokers Use Big Data

‘Data enables us to be customer-centric, enhancing the customer experience by personalizing every touch point specific to that customer. We are able to discern behavior patterns, build behavioral models based on customer profiles, and leverage consumer touch points to help …

My New Markets

My New Markets is brought to you by Insurance Journal’s sister website: www.mynewmarkets.com Need a Market? Find it. FAST. Miscellaneous E&O Program Market Detail: Professional Liability Insurance Services Inc.‘s SBE miscellaneous E&O program features a claims-made and reported form for …

P/C Direct Premium Written Up 5.2% in First-Half of 2014

Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW for all P/C insurers aggregately increased 4.1 …

Hands-Free Distraction

As the city in which I reside – Austin, Texas – gets ready for a new law to come into effect on Jan. 1, 2015, banning the use of hand-held cell phones while driving, I have been contemplating an investment …

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