P&C Companies News

Why Agencies Need to Pay More Attention to Insurer Insolvency

A myth is sneaking into the industry that insurer insolvency is not as important today. Belief in this myth is important to many entities. To put it more simply, a number of companies, agencies, and other firms benefit if less …

Technical and Medical Device Convergence Exposes New World of Risks

When the acclaimed television drama series Homeland climaxed with a devious plot by terrorists to kill America’s vice-president by hacking into his electronic pacemaker, critics mocked the ludicrousness of the idea deeming it as simply far-fetched fiction. However, the storyline …

Calling All Young Agents: Tell Us What You Think

Are you a young insurance agent, 40 years old or younger? Do you know a young insurance agent? Insurance Journal is searching for young insurance agents to participate in this year’s Young Insurance Agents Opinion Survey. Tell us what you …

Study Shows P/C Insurers Plan to Hire, Grow Significantly in 2014

More than half of all insurance companies responding to a recent survey say they plan to increase staff in 2014. Although hiring for the most-in-demand positions may prove difficult. That’s according to the latest Semi-Annual U.S. Insurance Labor Outlook Study …

Insurance Journal Co-Sponsors Agency Research Project

Channel Harvest Research, in partnership with Insurance Journal, has launched a new study of the independent agency system, probing agents’ attitudes toward insurance carrier relationships and, in particular, the companies they represent. The research, dubbed “Leaving Independent Agents to Their …

Insurance M&A Trends That May Lead to ‘Perfect Storm’ in 2014

Encouraged by a vigorous period of insurance M&A activity in the second half of 2012, many in the industry had high expectations of robustness in 2013. It’s clear now that 2013 M&A activity did not reach the levels of 2012 …

P/C Industry Supportive But Cautious on Federal Insurance Office Recommendations

Insurers, agents, brokers and state regulators welcome modernization and improvements in the current regulation of insurance, but are not so welcoming of changes that might invite regulation by the federal government. The U.S. Treasury’s Federal Insurance Office (FIO) yesterday released …

Federal Insurance Office Releases Long-Awaited Modernization Report

After nearly two years of delay, the U.S. Department of the Treasury’s Federal Insurance Office (FIO) today released its report on how to modernize and improve the system of insurance regulation in the United States. In its report, the FIO …

U.S. Regulator Unveils New Insurance Fee Guidelines

A U.S. housing regulator said on Tuesday that it would ban some fees and commissions that borrowers are compelled to pay when their own home insurance coverage lapses. The Federal Housing Finance Agency said it was aiming to shield homeowners …

Burand’s Agency E&O Blog: Tip #48

Notifying Umbrella Carriers of Potential Claims. Every reader likely knows the importance of notifying an excess/umbrella carrier of potential claims in a timely manner. When the excess/umbrella carrier is the same carrier providing underlying coverage, this is not an issue. …