Insurance Journal » National Section http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 17 May 2013 23:49:56 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Business Moves http://www.insurancejournal.com/magazines/business-moves/2013/05/06/290468.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290468 K2 Insurance, Aegis Security San Diego, Calif.-based K2 Insurance Services acquired Aegis Security Inc. in Harrisburg, Penn. Terms of the acquisition were not disclosed. Aegis Security specializes in insurance for manufactured homes, motorcycles, travel trailers, select-value dwellings and other specialty …

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]]> Jimcor’s Mastowski on the Market and the Future of MGAs http://www.insurancejournal.com/magazines/features/2013/05/06/290469.htm Mon, 06 May 2013 00:00:00 +0000 Andrea Wells http://www.insurancejournal.com/?p=290469 The incoming president of the American Association of Managing General Agents (AAMGA) is no newcomer to insurance. He has some 40 years of experience under his belt. Frank Mastowsi founded his family-run managing general agency — named after his children …

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]]> Declarations http://www.insurancejournal.com/magazines/declarations/2013/05/06/290463.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290463 Home Maintenance “Making sure things are in good working order this spring can make a big difference in home safety, as well as insurance matters.” —Pennsylvania Insurance Commissioner Michael Consedine on home maintenance. Consedine said homeowners starting their spring cleaning …

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]]> MyNewMarkets http://www.insurancejournal.com/magazines/newmarkets/2013/05/06/290470.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290470 Bringing Market Seekers and Market Providers Together Find markets in our database Promote your markets on our site Join our community forums Membership is free! www.MyNewMarkets.com Workers’ Comp / Excess Market Detail: Meadowbrook Insurance Group‘s offers workers’ comp and excess …

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]]> Cutting Corners http://www.insurancejournal.com/magazines/ideaexchange/2013/05/06/290465.htm Mon, 06 May 2013 00:00:00 +0000 Chris Burand http://www.insurancejournal.com/?p=290465 Some inside knowledge and a lot of experience strongly suggests that many agencies and brokers are cutting processing corners. I am not writing about immaterial corners. I am writing about them cutting large, material corners. Some have cropped the corners …

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]]> 2013 Super Regional Insurers http://www.insurancejournal.com/magazines/features/2013/05/06/290459.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290459 Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers The original criteria and objective definition for Super Regional P/C Insurers™ was established in the Feb. 12, 2007, issue of Insurance Journal. Prior to the establishment of an industry-wide definition, a number of …

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]]> The New Age of Technology: 3D Printing http://www.insurancejournal.com/magazines/features/2013/05/06/290460.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290460 Earlier this year, scientists from Cornell University successfully created an artificial human ear by printing it on a 3D printer. Created by squirting living cells into an injection mold, the ears could replace those of individuals who have lost all …

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]]> Most Carriers Provide Training on Selling Online: Survey http://www.insurancejournal.com/magazines/features/2013/05/06/290461.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290461 A two-thirds majority of independent insurance agents say their carriers are providing them with training and consulting on how to use their agency websites to increase sales, a new survey reveals. The annual survey of agents on their attitudes regarding …

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]]> Business Disaster Planning http://www.insurancejournal.com/magazines/mindyourbiz/2013/05/06/290462.htm Mon, 06 May 2013 00:00:00 +0000 Bill Schoeffler and Catherine Oak http://www.insurancejournal.com/?p=290462 Each year businesses and individuals are impacted by disasters. However, a disaster does not have to be widespread to paralyze an agency. Every business (including your clients) should have a Disaster Preparation and Recovery Plan. The better the plan, the …

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]]> U.S. P/C Industry Posts $33.5B 2012 Income Despite Huge Catastrophe Losses of $32B http://www.insurancejournal.com/magazines/features/2013/05/06/290464.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290464 U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate — in part because catastrophe losses were lower than in 2011. Analysts …

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]]> The Trademark Problem http://www.insurancejournal.com/magazines/features/2013/05/06/290466.htm Mon, 06 May 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=290466 It has always been surprising that trademark issues receive so little attention in the insurance community. It’s almost as if trademark claims are the dirty little secret of casualty insurance, both on the standard commercial and specialty professional sides of …

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]]> Apologies Necessary http://www.insurancejournal.com/magazines/editorsnote/2013/05/06/290467.htm Mon, 06 May 2013 00:00:00 +0000 Andrea Wells http://www.insurancejournal.com/?p=290467 Doctors do it. Kindergarteners do it. Should insurers do it? Despite the prevalence of apologies in our society — think Lance Armstrong, Tiger Woods, Mel Gibson and Bill Clinton — the idea of offering an apology as a result of …

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]]> Planning for Uncertainty http://www.insurancejournal.com/magazines/mindyourbiz/2013/04/22/288684.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288684 The traditional business plan includes short-term and long-term goals, and projections. But how do you plan when you can’t guess what will happen? Some things are shifting faster than you can keep up with, while other things can drastically change …

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]]> MyNewMarkets http://www.insurancejournal.com/magazines/newmarkets/2013/04/22/288670.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288670 Bringing Market Seekers and Market Providers Together Find markets in our database Promote your markets on our site Join our community forums Membership is free! www.MyNewMarkets.com Commercial Auto Liability & Physical Damage Market Detail: Align General Insurance Agency LLC has …

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]]> Mayhem Rules Insurance Journal’s Mascot March Madness http://www.insurancejournal.com/magazines/features/2013/04/22/288671.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288671 The scrappy underdog from South & Western General Agency of Texas gave it a good run, but in the end, the powerhouse Allstate Mayhem mascot took home the trophy in the 2013 Insurance Mascot March Madness Tournament conducted online by …

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]]> Business Moves http://www.insurancejournal.com/magazines/business-moves/2013/04/22/288679.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288679 Tower Group, Canopius Tower Group Inc. closed its merger with Canopius Holdings Bermuda Ltd. Tower becomes an indirect, wholly-owned subsidiary of Canopius Bermuda, which will change its name effective at the closing to Tower Group International Ltd. (Tower Ltd.). The …

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]]> The New Insurance Realities of the Live Event Industry http://www.insurancejournal.com/magazines/features/2013/04/22/288672.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288672 The increasing frequency of live event structural failures and tragic incidents mandates that insurance agents now, more than ever, be knowledgeable about changes in insurance regulations and venue contractual requirements with vendors. We are beginning to see these changes affect …

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]]> 19 States Approve ISO’s Telematics-Based Auto Rating Tool http://www.insurancejournal.com/magazines/features/2013/04/22/288673.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288673 ISO has filed its first vehicle telematics-based rating rule with insurance regulators in 33 states and received approvals in 19 states. The GeoMetric rating rule for use by insurers writing personal and commercial automobiles uses information collected via telematics to …

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]]> W.R. Berkley Corp. Divests, Connecticut Bank Acquires InsurBanc http://www.insurancejournal.com/magazines/features/2013/04/22/288675.htm Mon, 22 Apr 2013 00:00:00 +0000 Young Ha http://www.insurancejournal.com/?p=288675 InsurBanc, a federal savings bank founded by the Independent Insurance Agents & Brokers of America and W.R. Berkley Corp. a dozen years ago, has joined Connecticut Community Bank N.A., based in Westport, Conn. In the merger deal, the Farmington, Conn.-based …

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]]> Rates Should Rise Moderately for Most Commercial Lines http://www.insurancejournal.com/magazines/features/2013/04/22/288676.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288676 Commercial insurance buyers in all product lines should see rates rise moderately through the remainder of 2013, although commercial property rates for non-catastrophe exposed risks and some specialty lines may see slight reductions, according to global broker Willis in its …

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]]> 50 Top Apps For Independent Agents http://www.insurancejournal.com/magazines/features/2013/04/22/288686.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288686 Mobility technology is changing the way the insurance industry operates. And when it comes to working on the go, nothing is as important as mobile device applications. But what apps do independent agents use most? What apps are the most …

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]]> Commercial Rates Continued Up in March, Even for Large Accounts: MarketScout http://www.insurancejournal.com/magazines/features/2013/04/22/288678.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288678 Commercial insurance rates were up about 5 percent in March, according to the latest barometer from MarketScout and the National Alliance for Insurance Education and Research. Manufacturing continues to post the largest rate increases compared to prior-year results, followed by …

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]]> 10 Things to Know About the Trucking Industry http://www.insurancejournal.com/magazines/features/2013/04/22/288687.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288687 In 2012, intermodal container volumes rose by 5.9 percent over the previous year with 13.1 million moves, according to the Intermodal Association of North America’s “Intermodal Market Trends & Statistics” report. That number surpassed the previous benchmark year of 2007 …

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]]> Guns and Insurance http://www.insurancejournal.com/magazines/features/2013/04/22/288680.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288680 We are going to have both. Millions of gun owners will keep their firearms, and the level of death and injuries is unbearable. The tension will continue until a means to deal with these facts is forged, and you can …

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]]> Reworked Workers’ Compensation Formula Lowers Premiums http://www.insurancejournal.com/magazines/features/2013/04/22/288688.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288688 A reworking of a key piece of the workers’ compensation rating formula isn’t changing rates overall but is changing premiums for most insureds, according to experts. Tony DiDonato, director and senior actuary at the National Council on Compensation Insurance, said the …

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]]> Merger & Acquisition Activity Off to a Quiet Start http://www.insurancejournal.com/magazines/features/2013/04/22/288681.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288681 After a record-setting year-end, 2013 started off with a whisper. First quarter merger and acquisition activity slowed to 37 announced transactions between January and March, down from 67 the prior year. Buyers were busy digesting their December acquisitions spurred by …

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]]> Armed and Growing http://www.insurancejournal.com/magazines/editorsnote/2013/04/22/288677.htm Mon, 22 Apr 2013 00:00:00 +0000 Andrea Wells http://www.insurancejournal.com/?p=288677 Guns are big business. Just ask some insurance brokers. According to a report on InsuranceJournal.com, proposals to change state and federal gun laws is having an unintended effect on the gun insurance market – unprecedented growth. Experts in this segment …

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]]> E&O Insights: Directors & Officers Liability Is Not Your Normal Insurance Product http://www.insurancejournal.com/magazines/features/2013/04/22/288682.htm Mon, 22 Apr 2013 00:00:00 +0000 Curtis M. Pearsall http://www.insurancejournal.com/?p=288682 If you asked 100 insurance professionals on the agency side what one line of business “scares” them the most, it’s likely that directors and officers (D&O) liability would be at the top of the list. The lack of standardization of …

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]]> 7 Ways for Independent Agents to Recover Lost Policies http://www.insurancejournal.com/magazines/growyouragency/2013/04/22/288674.htm Mon, 22 Apr 2013 00:00:00 +0000 Alan L. Shulman http://www.insurancejournal.com/?p=288674 Independent agents have a nearly endless supply of suspects to solicit. They encompass almost every consumer and business in the state(s) in which you’re licensed. Of course, some make better prospects than others, and the more you know about them, …

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]]> 10-Point Checklist for DO Renewals in a Hard Market http://www.insurancejournal.com/magazines/features/2013/04/22/288685.htm Mon, 22 Apr 2013 00:00:00 +0000 http://www.insurancejournal.com/?p=288685 No one, least of all the insured, likes a price increase. But with the D&O market firming across the board – as confirmed by the Towers Watson “2012 Directors and Officers Liability Survey” released in March – businesses are likely …

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