National Section

7 Major Pitfalls of High Net Worth Insurance Programs

Imagine designing a program of insurance that covers multiple homes in different states and countries, incorporates estate planning strategies, covers automobiles in multiple states, valuable global collections and personal liability lawsuits that may arise. Insurance programs designed for individuals with …

Drug Repackagers, Compounding Pharmacies Continue to Stress Workers’ Comp Systems

Although the number of physician dispensed prescriptions declined considerably from just a few years ago, the workers’ compensation industry continues to battle an adapting market seeking to maintain high prices by changing drug strength and formulations. The effect of physician …

Why Insurance Providers and Security Professionals Should Work Together on Active Shooter Risks

With today’s mounting tragic events, it’s more important than ever for businesses to protect themselves, their employees and their customers. According to the Fatal Occupational Injuries report conducted by the Bureau of Labor Statistics, there has been a reported 43 …

The Competitive Advantage: Who Needs Insurance?

Who needs insurance? Not the perfect risk, other than for contractual and legal reasons. The perfect risk has absolutely no chance, not even remotely, of incurring a loss. If an account has almost no probability of incurring a claim, it …

Program Business Sector Revenue Jumps 11.7% from 2014 to 2016: TMPAA

The financial performance of commercial property/casualty insurance program administrators continued to outpace the performance of the overall property/casualty insurance markets, according to a recent study. Program business premium jumped 11.7 percent in 2016 reaching $36.1 billion for the sector, up …

‘Substantial’ Rate Hikes Expected As Re/Insurers’ Results Take a Hit: Swiss Re

Non-life re/insurers’ full-year underwriting results are likely to be severely affected by the second half of the year’s three hurricanes and earthquakes in Mexico–which will lead to rate hardening for non-life insurers and reinsurers, according to a report published by …

Declarations

Strong Feelings “We feel strongly that they should step up and play a role and work with the federal government in this process … We did a thorough assessment and that was completed, and this was the number that we …

Global Commercial Insurance Rates Decrease Again: Marsh

Average global insurance rates decreased for the 18th consecutive quarter, although the rate of decline slowed in the third quarter of 2017 (down 1.6 percent) as compared to the prior quarter (down 2.2 percent), according to broker Marsh’s Global Insurance …

Why Employees Cheat

It can happen in the branch office or the boardroom. Volkswagen did it to pass emissions tests. Wells Fargo did it to squeeze more profits from their customers. Some school districts have it done it to boost their standardized test …

Business Moves

Hub, Wells Fargo Global insurance broker Hub International Ltd. has agreed to acquire the assets of the crop insurance broker business of Wells Fargo Insurance. Terms of the agreement to buy the business, known as Wells Fargo Crop Insurance Agency, …

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