Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Thu, 24 Apr 2014 10:40:22 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 Affordable Care Act Could Have ‘Modest’ Effect on Other Insurance Costs http://www.insurancejournal.com/news/national/2014/04/23/327107.htm Wed, 23 Apr 2014 16:18:56 +0000 http://www.insurancejournal.com/?p=327107 The expansion of health insurance accomplished under the Affordable Care Act may alter costs for several major types of liability insurance, although any such changes are likely to be modest, according to a new RAND Corp. report. Automobile, workers’ compensation …

The article Affordable Care Act Could Have ‘Modest’ Effect on Other Insurance Costs appeared first on Insurance Journal.

]]>
Report: Superstorm Sandy’s Fallout Tough on Small Businesses http://www.insurancejournal.com/news/east/2014/04/23/327053.htm Wed, 23 Apr 2014 07:42:06 +0000 http://www.insurancejournal.com/?p=327053 When suburban New York delicatessen owner P.J. Whelan heard the findings of a Federal Reserve Bank of New York poll released Monday on Superstorm Sandy’s effect on small businesses, he began nodding in agreement. “They got those numbers right,” the …

The article Report: Superstorm Sandy’s Fallout Tough on Small Businesses appeared first on Insurance Journal.

]]>
Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay http://www.insurancejournal.com/news/east/2014/04/23/326911.htm Wed, 23 Apr 2014 07:40:08 +0000 http://www.insurancejournal.com/?p=326911 A newly published study from Rutgers University in New Jersey shows that most state residents strongly support government programs aimed at lowering the likelihood of severe damage from future hurricanes. The study also found, however, that only a small fraction …

The article Poll: N.J. Residents Back Gov’t Storm Mitigation Efforts but Few Willing to Pay appeared first on Insurance Journal.

]]>
Marsh Report Finds Continued Demand for Terrorism Risk Insurance; Urges Renewal http://www.insurancejournal.com/news/national/2014/04/22/326977.htm Tue, 22 Apr 2014 15:14:44 +0000 http://www.insurancejournal.com/?p=326977 Demand for terrorism insurance remains strong and the existence of the federal terrorism risk insurance program plays a key role in making coverage available and affordable, according to a report released by insurance broker Marsh. According to Marsh’s 2014 Terrorism …

The article Marsh Report Finds Continued Demand for Terrorism Risk Insurance; Urges Renewal appeared first on Insurance Journal.

]]>
Bigger and More Frequent Wildfires Burning Western U.S. http://www.insurancejournal.com/news/west/2014/04/21/326869.htm Mon, 21 Apr 2014 16:23:33 +0000 http://www.insurancejournal.com/?p=326869 Wildfires across the western United States have been getting bigger and more frequent over the last 30 years, according to a new study. The number of wildfires over 1,000 acres in size in the region stretching from Nebraska to California …

The article Bigger and More Frequent Wildfires Burning Western U.S. appeared first on Insurance Journal.

]]>
2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007 http://www.insurancejournal.com/news/national/2014/04/21/326859.htm Mon, 21 Apr 2014 14:59:05 +0000 http://www.insurancejournal.com/?p=326859 U.S. property/casualty insurers’ net income after taxes grew to $63.8 billion in 2013 from $35.1 billion in 2012, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus climbing to 10.3 percent from 6.1 percent. …

The article 2013 P/C Insurers’ Results Show Net Gain on Underwriting– First Since 2007 appeared first on Insurance Journal.

]]>
Financial Regulators Tell Congress TRIA Still Needed http://www.insurancejournal.com/news/national/2014/04/20/326828.htm Mon, 21 Apr 2014 01:17:57 +0000 http://www.insurancejournal.com/?p=326828 The private insurance market is not in a position to fill the gap that would be created if Congress fails to renew the federal terrorism risk insurance program, concludes a new report to Congress by the government’s financial regulators. If …

The article Financial Regulators Tell Congress TRIA Still Needed appeared first on Insurance Journal.

]]>
Updated: Federal Insurance Office Seeks Comments on Auto Insurance Affordability http://www.insurancejournal.com/news/national/2014/04/17/326408.htm Thu, 17 Apr 2014 13:30:11 +0000 http://www.insurancejournal.com/?p=326408 The insurance office within the U.S. Treasury is looking into whether minorities and low and moderate income Americans have access to affordable auto insurance. On April 10, the Federal Insurance Office, citing its authority under the Dodd-Frank act to monitor …

The article Updated: Federal Insurance Office Seeks Comments on Auto Insurance Affordability appeared first on Insurance Journal.

]]>
New Jersey Officials Fighting to End ‘Epidemic of Driver Inattention’ http://www.insurancejournal.com/news/east/2014/04/16/326487.htm Wed, 16 Apr 2014 17:01:24 +0000 http://www.insurancejournal.com/?p=326487 New Jersey’s Acting Attorney General John Hoffman this week announced the staggering toll driver inattention has taken on New Jersey’s roadways in the past 10 years. Hoffman said New Jersey has experienced a “distracted driving decade” during the past 10 …

The article New Jersey Officials Fighting to End ‘Epidemic of Driver Inattention’ appeared first on Insurance Journal.

]]>
Flood Insurance Presents Opportunity, Obstacles for Private Insurers http://www.insurancejournal.com/news/national/2014/04/16/326285.htm Wed, 16 Apr 2014 12:00:28 +0000 http://www.insurancejournal.com/?p=326285 Privatization of the National Flood Insurance Program (NFIP) would present a huge growth opportunity to the property/casualty market, allowing insurers to tap into about $3.3 billion of yearly premiums. But the flood insurance market has a long way to go …

The article Flood Insurance Presents Opportunity, Obstacles for Private Insurers appeared first on Insurance Journal.

]]>
Why Hands-Free Cell Phones Are Not Safer: Safety Council http://www.insurancejournal.com/news/national/2014/04/15/326289.htm Tue, 15 Apr 2014 13:42:07 +0000 http://www.insurancejournal.com/?p=326289 A National Safety Council public opinion poll indicates that 80 percent of drivers across the country believe that hands-free devices are safer than using a handheld phone despite evidence this is nit true. More than 30 studies show hands-free devices …

The article Why Hands-Free Cell Phones Are Not Safer: Safety Council appeared first on Insurance Journal.

]]>
1 in 7 Cars on Road Have Unrepaired Defect http://www.insurancejournal.com/news/national/2014/04/15/326291.htm Tue, 15 Apr 2014 13:36:01 +0000 http://www.insurancejournal.com/?p=326291 Even with U.S. auto recalls on pace to reach the highest level in a decade this year, there’s a good chance many of the vehicles won’t get fixed. About a third of all recalled cars and trucks don’t get repaired, …

The article 1 in 7 Cars on Road Have Unrepaired Defect appeared first on Insurance Journal.

]]>
Private Premiums Under Affordable Care Act 15% Below Forecast, Says CBO http://www.insurancejournal.com/news/national/2014/04/15/326287.htm Tue, 15 Apr 2014 13:29:51 +0000 http://www.insurancejournal.com/?p=326287 The health law will cost $104 billion less over the next decade, the Congressional Budget Office said after premiums for private Obamacare plans came in lower than the agency expected. The premium for a benchmark “silver” level plan, the second-most …

The article Private Premiums Under Affordable Care Act 15% Below Forecast, Says CBO appeared first on Insurance Journal.

]]>
Energy Firms Unprotected for Major Cyber Events: Willis http://www.insurancejournal.com/news/national/2014/04/15/325848.htm Tue, 15 Apr 2014 12:30:20 +0000 http://www.insurancejournal.com/?p=325848 Energy companies have no insurance against major cyber attacks, reinsurance broker Willis said, likening the threat to a “time bomb” that could cost the industry billions of dollars. Willis highlighted the industry’s vulnerability to cyber threats in its annual review …

The article Energy Firms Unprotected for Major Cyber Events: Willis appeared first on Insurance Journal.

]]>
Tennessee Colleges Report Drop in Crime http://www.insurancejournal.com/news/southeast/2014/04/09/325844.htm Wed, 09 Apr 2014 10:35:32 +0000 http://www.insurancejournal.com/?p=325844 A Tennessee Bureau of Investigation report says overall crime on college campuses has dropped by more than 11 percent. The Chattanooga Times Free Press cited the data in reporting that the number of assaults and thefts were down while the …

The article Tennessee Colleges Report Drop in Crime appeared first on Insurance Journal.

]]>
IMF Sees Global Growth Gaining Along with Rising Risks in Emerging Economies http://www.insurancejournal.com/news/international/2014/04/08/325760.htm Tue, 08 Apr 2014 13:07:04 +0000 http://www.insurancejournal.com/?p=325760 The International Monetary Fund on Tuesday predicted the global recovery would strengthen this year as output in richer nations picked up, but it warned of rising risks in emerging economies. In its latest global economic snapshot, the Washington-based IMF said …

The article IMF Sees Global Growth Gaining Along with Rising Risks in Emerging Economies appeared first on Insurance Journal.

]]>
SNL’s Top 30 E&S Writers: Berkshire On Fire with 40% Growth in 2013 http://www.insurancejournal.com/news/national/2014/04/07/325707.htm Mon, 07 Apr 2014 17:55:16 +0000 http://www.insurancejournal.com/?p=325707 With 40 percent premium growth in 2013, Berkshire Hathaway climbed five spots in the U.S. excess and surplus lines (E&S) ranking by SNL Financial, while QBE scaled back its North American operations and fell three places. Berkshire Hathaway Inc. is …

The article SNL’s Top 30 E&S Writers: Berkshire On Fire with 40% Growth in 2013 appeared first on Insurance Journal.

]]>
Top 10 States and Cities for Job Growth http://www.insurancejournal.com/news/national/2014/04/07/325620.htm Mon, 07 Apr 2014 15:12:30 +0000 http://www.insurancejournal.com/?p=325620 North Dakota, California, Texas and Florida did well in job growth in 2013 while Arkansas and Pennsylvania lagged and West Virginia was the only state to lose jobs. Overall, 12 states showed job growth of at least two percent last …

The article Top 10 States and Cities for Job Growth appeared first on Insurance Journal.

]]>
In Search of Scientific, Engineering Solutions to Make Cities Resilient http://www.insurancejournal.com/news/national/2014/04/07/325611.htm Mon, 07 Apr 2014 14:11:56 +0000 http://www.insurancejournal.com/?p=325611 Sandia National Laboratories is bringing decades of experience solving problems with practical engineering and modeling complex systems to cities around the world under a new agreement to support the 100 Resilient Cities Centennial Challenge, pioneered by the Rockefeller Foundation. The …

The article In Search of Scientific, Engineering Solutions to Make Cities Resilient appeared first on Insurance Journal.

]]>
Fitch Sees Growth, Profitability Continuing for U.S. Commercial Lines http://www.insurancejournal.com/news/national/2014/04/03/325359.htm Thu, 03 Apr 2014 14:04:53 +0000 http://www.insurancejournal.com/?p=325359 Fitch Ratings said it maintains a stable rating outlook for the U.S. commercial lines sector due to improving profitability over the past two years and strong capital levels allowing insurers to withstand considerable adversity. Fitch’s fundamental outlook on the commercial …

The article Fitch Sees Growth, Profitability Continuing for U.S. Commercial Lines appeared first on Insurance Journal.

]]>
Aflac Claims Workers’ Compensation Claims Drop for Firms Offering Accident, Disability Insurance http://www.insurancejournal.com/news/national/2014/04/02/325118.htm Wed, 02 Apr 2014 16:23:59 +0000 http://www.insurancejournal.com/?p=325118 A high percentage —  42 percent on average — of all companies providing access to voluntary accident and disability insurance report declines in their workers’ compensation claims, according to the results of an online survey released by Aflac, a leading …

The article Aflac Claims Workers’ Compensation Claims Drop for Firms Offering Accident, Disability Insurance appeared first on Insurance Journal.

]]>
Reinsurance Price Drop Seen Triggering Lower P/C Rates http://www.insurancejournal.com/news/national/2014/04/02/325113.htm Wed, 02 Apr 2014 14:23:30 +0000 http://www.insurancejournal.com/?p=325113 A downward slide in reinsurance prices showed clear signs of accelerating in April contract renewals and is likely to feed through to property/casualty insurance prices before long, broker Willis said this week. Reinsurers have seen prices fall by up to …

The article Reinsurance Price Drop Seen Triggering Lower P/C Rates appeared first on Insurance Journal.

]]>
Top 5 Riskiest States for Employee Lawsuits: Hiscox http://www.insurancejournal.com/news/national/2014/04/01/324942.htm Tue, 01 Apr 2014 14:44:20 +0000 http://www.insurancejournal.com/?p=324942 Four states – California, Illinois, Alabama and Mississippi – along with the District of Columbia, are the top five riskiest places in the country for employee lawsuits. Businesses in these states and jurisdictions face a substantially higher risk of being …

The article Top 5 Riskiest States for Employee Lawsuits: Hiscox appeared first on Insurance Journal.

]]>
1 in 10 Small Businesses Report Workers Under Influence of Alcohol, Drugs http://www.insurancejournal.com/news/national/2014/03/28/324692.htm Fri, 28 Mar 2014 14:04:51 +0000 http://www.insurancejournal.com/?p=324692 One in 10 small businesses had employees show up for work last year while under the influence of at least one controlled substance. Small-business owners reported that alcohol, marijuana and prescription painkillers were the most common substances employees used, according …

The article 1 in 10 Small Businesses Report Workers Under Influence of Alcohol, Drugs appeared first on Insurance Journal.

]]>
Life Insurers Flock to ‘Easy’ Iowa As More Federal Oversight Looms http://www.insurancejournal.com/news/national/2014/03/28/324690.htm Fri, 28 Mar 2014 13:37:11 +0000 http://www.insurancejournal.com/?p=324690 After Symetra Financial Corp. was formed in 2004, the life insurer set up shop in a 25-story glass tower outside Seattle, put its name on the building and pushed the state to adopt more favorable rules for its business. The …

The article Life Insurers Flock to ‘Easy’ Iowa As More Federal Oversight Looms appeared first on Insurance Journal.

]]>
Insurance Executives See Jump in Acquisitions Ahead http://www.insurancejournal.com/news/national/2014/03/27/324567.htm Thu, 27 Mar 2014 14:57:12 +0000 http://www.insurancejournal.com/?p=324567 After a slowdown following the 2008 financial crisis, the volume of insurance mergers and acquisitions should increase over the next one to three years, according to North American insurance executives. A sizable 86 percent of those executives participating in a …

The article Insurance Executives See Jump in Acquisitions Ahead appeared first on Insurance Journal.

]]>
Pedestrian Traffic Fatalities Down in Ohio, Report Finds http://www.insurancejournal.com/news/midwest/2014/03/25/324381.htm Tue, 25 Mar 2014 16:34:15 +0000 http://www.insurancejournal.com/?p=324381 A national transportation safety report shows pedestrian traffic fatalities are down nationally, including in Ohio. The recent report from the Governors Highway Safety Association found that Ohio was one of 25 states where fewer pedestrians were killed in the first …

The article Pedestrian Traffic Fatalities Down in Ohio, Report Finds appeared first on Insurance Journal.

]]>
Injured Worker Cost Per Claim Rises in Texas http://www.insurancejournal.com/news/southcentral/2014/03/25/324375.htm Tue, 25 Mar 2014 16:32:28 +0000 http://www.insurancejournal.com/?p=324375 Payments per claim for the medical care of injured workers in Texas grew nearly 8 percent in 2011, largely the effect of price increases from earlier reforms, according to a 16-state study by the Workers Compensation Research Institute (WCRI). The …

The article Injured Worker Cost Per Claim Rises in Texas appeared first on Insurance Journal.

]]>
Survey: Who’s Worth What in the Independent Agency System? http://www.insurancejournal.com/news/national/2014/03/21/323927.htm Fri, 21 Mar 2014 16:25:33 +0000 http://www.insurancejournal.com/?p=323927 For the second year in row, salaries and total compensation rose in independent insurance agencies across the nation. That’s according to Insurance Journal’s annual Agency Salary Survey 2014. This year all levels of agency personnel averaged between a 2 percent …

The article Survey: Who’s Worth What in the Independent Agency System? appeared first on Insurance Journal.

]]>
GEICO’s Advertising Spending Slows But Still Tops $1 Billion: SNL http://www.insurancejournal.com/news/national/2014/03/20/323788.htm Thu, 20 Mar 2014 14:15:31 +0000 http://www.insurancejournal.com/?p=323788 After two years of double-digit percentage increases in advertising spending, GEICO Corp. boosted its ad spend by just over five percent in 2013, according to research by  SNL Financial. GEICO, with its Gecko and Maxwell the pig mascots, has been …

The article GEICO’s Advertising Spending Slows But Still Tops $1 Billion: SNL appeared first on Insurance Journal.

]]>