Compensation for any agency is always the largest expense category. For the typical agency, total compensation (producer and employee compensation plus benefits and taxes) ranges from 50 percent to 75 percent of total revenue. If the compensation is too high, …
It hasn’t been healthy. In fact, the directors and officers liability insurance market for super-sized Enrons, WorldComs and the Fortune 1000 has been unhealthy for some time. Looking at the market’s performance, Marc Siegel, director of research for the Baltimore …
The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is largely due to the destruction from Hurricane Katrina, the most devastating …
Agent and brokers accustomed to sending tough workers’ compensation risks to the residual market may want to consider another solution. The National Council on Compensation Insurance, which prepares workers’ compensation rates and manages residual market plans in many states, has …
For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it has happened at all–let alone for over three centuries–evinces …
Independent agents representing Zurich Insurance in the U.S. will have to disclose their income before binding any commercial lines policies for Zurich and some Zurich agents may be denied contingency compensation under the terms of recent class action settlements. Zurich …
Standard & Poor’s Ratings Services said that its criteria for measuring catastrophe risk for primary insurers will be revised early in the second quarter of this year. (For reinsurers, there are no current plans to further revise these criteria.) The …
Publicly traded property casualty insurance companies must serve many masters. To be competitive in the marketplace, they must offer products that meet the needs of consumers, at prices that are competitive with the expectations of agents as well as the …
For 317 years London’s insurance market in general and Lloyd’s in particular has been adapting to changing conditions both locally and globally. It’s never been easy, but the fact that it has happened at all — let alone for over …
Directors and officers liability insurance average premium continued to decline in 2005, dropping by 9 percent last year after a 10 percent decline in 2004, according to the “D&O Liability 2005 Survey on Claims and Insurance Purchasing Trends” conducted by …
