Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Fri, 24 Oct 2014 21:43:30 +0000 en-US hourly 1 http://wordpress.org/?v=3.9.2 Kansas Contractors Struggle to Find Skilled Workers http://www.insurancejournal.com/news/midwest/2014/10/24/344736.htm Fri, 24 Oct 2014 16:35:36 +0000 http://www.insurancejournal.com/?p=344736 A survey finds that many Kansas contractors are having trouble filling skilled jobs in the construction industry. Ninety percent of the 20 Kansas firms that responded to an Associated General Contractors survey said they’re having a hard time finding project …

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Florida Is Hot Spot for Luxury Car Theft http://www.insurancejournal.com/news/southeast/2014/10/23/344655.htm Fri, 24 Oct 2014 01:43:05 +0000 http://www.insurancejournal.com/?p=344655 Drivers of luxury vehicles in Florida should watch out. Their cars are the least likely in the U.S. to be returned if stolen. More than 25 percent of luxury cars taken from the beginning of 2010 through 2013 were never …

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Towers Watson Predicts Moderate Global Growth, Downside Risks http://www.insurancejournal.com/news/international/2014/10/22/344420.htm Wed, 22 Oct 2014 16:22:37 +0000 http://www.insurancejournal.com/?p=344420 Towers Watson says that overall global growth in the next three to five years will be moderate and divergent on a country basis, and risks to global growth are skewed to the downside in its report entitled “Secular Outlook 2014: …

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10 Insurance Myths (Men Are More Likely Than Women to Believe 8 of Them) http://www.insurancejournal.com/news/national/2014/10/21/344167.htm Tue, 21 Oct 2014 10:40:59 +0000 http://www.insurancejournal.com/?p=344167 Men may be more gullible when it comes to insurance myths than women but even women think a number of popular myths about insurance are true, according to a survey by online insurance seller insure.com. Insure.com said it recently surveyed …

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S&P: Global Multiline Insurers’ Credit Quality to Stay Strong in 2015 http://www.insurancejournal.com/news/international/2014/10/21/344173.htm Tue, 21 Oct 2014 09:17:58 +0000 http://www.insurancejournal.com/?p=344173 Global multiline insurers (GMI) continue to show strong credit quality, according to Standard & Poor’s Ratings Services. S&P provided an overview of the GMI sector in an article titled “Global Multiline Insurers’ Diversity and Capitalization Will Remain Key Rating Strengths …

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P/C Insurers’ Reserves Redundancy to Continue: Moody’s http://www.insurancejournal.com/news/national/2014/10/20/344076.htm Mon, 20 Oct 2014 16:44:55 +0000 http://www.insurancejournal.com/?p=344076 U.S. property/casualty insurers’ reserves will remain moderately redundant through the end of the year, Moody’s Investors Service has reported. “We expect moderately redundant reserves based on ongoing rate-firming, benign loss costs and enhanced underwriting standards,” said Moody’s Jasper Cooper, an …

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Management of Top Risks Unsatisfactory, Say Risk Managers in FERMA Survey http://www.insurancejournal.com/news/international/2014/10/20/344060.htm Mon, 20 Oct 2014 12:46:46 +0000 http://www.insurancejournal.com/?p=344060 Risk managers are not satisfied with the level of mitigation for six of the top 10 risks “that keep their CEO awake at night,” which is one of the key findings of the 2014 Risk Management Benchmarking Survey conducted by …

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Large Agencies More Optimistic About Future Growth: Vertafore Study http://www.insurancejournal.com/news/national/2014/10/17/344021.htm Fri, 17 Oct 2014 17:09:41 +0000 http://www.insurancejournal.com/?p=344021 Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts, according to a new industry study. Some 70 percent …

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States’ Efforts on Climate Change Adaptation: Half Full or Half Empty? http://www.insurancejournal.com/news/national/2014/10/16/343904.htm Fri, 17 Oct 2014 00:15:38 +0000 http://www.insurancejournal.com/?p=343904 Who hates that glass-half-full analogy? I’m guessing more than half of you, but let’s not let that stand in the way of using the clichéd-to-death philosophical quandary to illustrate a point being made by a new online tool that shows …

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Computer Model Predicts 2 Dozen Ebola Cases in U.S. This Month http://www.insurancejournal.com/news/national/2014/10/16/343800.htm Thu, 16 Oct 2014 11:26:38 +0000 http://www.insurancejournal.com/?p=343800 There could be as many as two dozen people in the U.S. infected with Ebola by the end of the month, according to researchers tracking the virus with a computer model. The actual number will probably be far smaller and …

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Weather Tracking Firm Receives Patent on Storm Warning Technology http://www.insurancejournal.com/news/national/2014/10/15/343555.htm Wed, 15 Oct 2014 12:57:26 +0000 http://www.insurancejournal.com/?p=343555 Earth Networks Inc., a Maryland company that provides weather-tracking services, has received a patent on a technology that can be used to track storm cells. Patent 8,836,518 covers a method that uses lightning-flash rates to track the cells. According to …

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A.M. Best: Prospects Improve for Insurers in ASEAN Market http://www.insurancejournal.com/news/international/2014/10/15/343495.htm Wed, 15 Oct 2014 06:54:36 +0000 http://www.insurancejournal.com/?p=343495 While integration of insurance markets among the 10 member states of the Association of Southeast Asian Nations (ASEAN) has a long way to go, the prospects for closer connectivity in a region with vibrant growth give insurers and regulators incentive to …

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Experts: Insurance Distribution Future Online and Personalized http://www.insurancejournal.com/news/west/2014/10/14/343486.htm Tue, 14 Oct 2014 22:37:47 +0000 http://www.insurancejournal.com/?p=343486 The future of insurance distribution was discussed at the CPCU Society’s annual All Industry Day in California on Tuesday. The day-long conference at the Sportsmen’s Lodge in Studio City included panels on the economy, business interruption and cyber liability. During …

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W. Africa Ebola Cases May Rise to 10,000 a Week by December http://www.insurancejournal.com/news/international/2014/10/14/343428.htm Tue, 14 Oct 2014 14:21:47 +0000 http://www.insurancejournal.com/?p=343428 The number of Ebola cases in three West African nations may jump to between 5,000 and 10,000 a week by Dec. 1 as the deadly viral infection spreads, the World Health Organization said. The outbreak is still expanding geographically in …

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Best Report: Spain’s Insurance Market Remains Profitable http://www.insurancejournal.com/news/international/2014/10/14/343406.htm Tue, 14 Oct 2014 09:43:26 +0000 http://www.insurancejournal.com/?p=343406 As Spain’s economy shows signs of improvement, there are indications that the decline in the country’s non-life insurance market has slowed in 2014, aided by growth in the health insurance sector, according to a new A.M. Best special report. This …

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A.M. Best: UK Non-Life Insurers’ Profits Under Pressure http://www.insurancejournal.com/news/international/2014/10/14/343401.htm Tue, 14 Oct 2014 09:21:03 +0000 http://www.insurancejournal.com/?p=343401 Profit margins in the U.K. non-life insurance sector are under pressure this year as companies fight to maintain pricing discipline in an extremely competitive market, according to a new A.M. Best special report. Premium rates are falling in personal lines …

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Are States, Cities Equipped to Handle Ebola Emergencies? http://www.insurancejournal.com/news/national/2014/10/12/343299.htm Sun, 12 Oct 2014 23:49:57 +0000 http://www.insurancejournal.com/?p=343299 The missteps in Dallas’s handling of the first Ebola case diagnosed in the United States have revealed an uncomfortable reality: state and city plans for handling the deadly virus are based on generic recommendations for everything from measles to floods, …

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Seattle, Boston Top Cities for Pedestrian Safety http://www.insurancejournal.com/news/national/2014/10/09/343226.htm Fri, 10 Oct 2014 02:53:07 +0000 http://www.insurancejournal.com/?p=343226 Seattle, where a crowd of football fans celebrating a Super Bowl victory waited at a crosswalk for a signal change this year, is the safest U.S. city for pedestrians, according to a study by Liberty Mutual Holding Co. The city …

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How States Rank, High to Low, in Workers’ Compensation Premiums http://www.insurancejournal.com/news/national/2014/10/09/343201.htm Thu, 09 Oct 2014 22:05:42 +0000 http://www.insurancejournal.com/?p=343201 A list of state rankings for workers’ compensation premiums shows a slight drop in premiums in the last two years, and that a number of states are close in terms of how much employers are paying. The list put out …

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High-Tide Floods to Triple for Some East Coast Cities, Study Finds http://www.insurancejournal.com/news/national/2014/10/08/342987.htm Wed, 08 Oct 2014 13:51:57 +0000 http://www.insurancejournal.com/?p=342987 Flooding during high tides, which used to be rare, is now common in some places and could worsen to the point that sections of coastal cities may flood so often they would become unusable in the near future, according to …

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Study: Formulary Could Save California Workers’ Comp $124M-$420M http://www.insurancejournal.com/news/west/2014/10/07/342951.htm Tue, 07 Oct 2014 22:36:49 +0000 http://www.insurancejournal.com/?p=342951 Adopting a state-mandated workers’ compensation prescription drug formulary similar to systems in place in Texas and Washington could reduce California workers’ comp pharmacy payments by between $124 million and $420 million per year, a California Workers’ Compensation Institute study shows. …

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Symposium Panelists Say New Car Technology May Not Lower Insurance Rates http://www.insurancejournal.com/news/east/2014/10/06/342742.htm Mon, 06 Oct 2014 16:46:25 +0000 http://www.insurancejournal.com/?p=342742 More cars and trucks are being equipped with cameras, radar, automatic braking and other safety technology that help avoid accidents, but drivers may not see their insurance bills go down anytime soon, experts in the auto and insurance industries said …

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P/C Insurers’ Net Income Rose, Operating Income Fell in First Half http://www.insurancejournal.com/news/national/2014/10/06/342766.htm Mon, 06 Oct 2014 15:17:01 +0000 http://www.insurancejournal.com/?p=342766 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 …

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NYIA: Many Renters Lack Renters Insurance Despite Premium Decreases http://www.insurancejournal.com/news/east/2014/10/06/342743.htm Mon, 06 Oct 2014 15:16:34 +0000 http://www.insurancejournal.com/?p=342743 The New York Insurance Association (NYIA) says the percentage of renters buying renters insurance has been falling nationally in recent years even as premiums become more affordable. According to a 2014 Insurance Information Institute poll conducted by ORC International, only …

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Top 30 Private Auto Insurers: SNL http://www.insurancejournal.com/news/national/2014/09/26/341685.htm Fri, 26 Sep 2014 13:09:46 +0000 http://www.insurancejournal.com/?p=341685 CSAA Insurance Exchange, which sells private auto insurance to AAA members in about 25 states, experienced double-digit year-over-year growth in personal auto business, far outpacing other top writers in the second quarter, a new analysis by SNL Financial shows. SNL …

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Plymouth Rock Releases Study on New Jersey Road Rage http://www.insurancejournal.com/news/east/2014/09/24/341479.htm Wed, 24 Sep 2014 16:16:27 +0000 http://www.insurancejournal.com/?p=341479 A new study from Plymouth Rock Assurance reveals that virtually all drivers polled have witnessed provocative driving behavior or road rage in New Jersey. Behaviors reported include unsafe and aggressive driving sometimes even leading to a physical altercation. The survey …

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Surplus Lines Rate Hikes to Slow As Competition Grows http://www.insurancejournal.com/news/national/2014/09/23/341346.htm Tue, 23 Sep 2014 12:28:34 +0000 http://www.insurancejournal.com/?p=341346 Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is experiencing growth and strong profitability, thanks to …

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How Spouse’s Personality Influences Job Success http://www.insurancejournal.com/news/national/2014/09/22/341255.htm Mon, 22 Sep 2014 14:53:30 +0000 http://www.insurancejournal.com/?p=341255 As people spend more and more time in the workplace, it’s natural for co-workers to develop close bonds — what’s often referred to as a “workplace spouse” or an “office wife.” But when it comes to pay raises, promotions and …

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NOAA Hopes Drones Get Data from Hurricane Edouard http://www.insurancejournal.com/news/national/2014/09/18/340991.htm Thu, 18 Sep 2014 14:57:06 +0000 http://www.insurancejournal.com/?p=340991 U.S. government scientists are launching winged drones into Hurricane Edouard, hoping to collect data that could help forecasters understand what makes some storms strengthen into monsters while others fade away. This week’s launches mark the first time that unmanned aircraft …

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Reinsurance Rendez-Vous: Data Tools Help Identify Risks http://www.insurancejournal.com/news/international/2014/09/18/340956.htm Thu, 18 Sep 2014 12:28:39 +0000 http://www.insurancejournal.com/?p=340956 Insurance companies are increasingly turning to “big data” from satellites, social media and even cigarette sales at gas stations to help identify risks and build up customer profiles, according to reinsurers attending the annual Monte Carlo Reinsurance Rendez-vous this week. …

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