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Insurance exchange gives retail agents more market access

Published - 05/13/2012 12:00 AM

While brokers and agents have long invested in agency management systems to capture and format insurance application data, and insurers have devised portals with product and service information, integrating that information has been the goal of the insurance exchange movement. An early manifestation of the exchange model is Dallas-based ... 

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J.D. Power Ranks Insurers on Shopping Experience

Published - 05/07/2012 12:00 AM

The number of consumers shopping for auto insurance has declined, dropping to the lowest point in five years, according to the J.D. Power and Associates “2012 U.S. Insurance Shopping Study.” According to the research, only one-quarter of insurance customers shopped for a new insurer this past year, an 8–percent ... 

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Insurers Using Social Media, But Not Seeing Increased Sales

Published - 05/03/2012 12:00 AM

In kasina’s yet-to-be released 2nd annual study, findings indicate that about 87 percent of asset managers and insurers use LinkedIn, Facebook and Twitter, but very few are experiencing increased sales. “It’s hard to track how much social media enhances the bottom line,” kasina Research Analyst Jesse Mark told Insurance ... 

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Social Security quickly dwindling

Published - 04/24/2012 12:00 AM

Social Security is rushing even faster toward insolvency, driven by retiring baby boomers, a weak economy and politicians’ reluctance to take painful action to fix the huge retirement and disability program. The trust funds that support Social Security will run dry in 2033 — three years earlier than previously ... 

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Farmers ask House committee to keep crop insurance

Published - 04/22/2012 12:00 AM

DODGE CITY, Kan. (AP) -- In an area hit hard by drought last year, plains farmers echoed to three members of the House Agricultural Committee what many in the Farm Belt have relayed: Make sure the new farm bill has crop insurance as its backbone. "In today's business environment, ... 

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Gains in Insurance Divisions Help Pace AIG's Profit Surge

Published - 05/06/2012 12:00 AM

American International Group Inc. AIG -3.84% said its first-quarter profit more than doubled to $3.21 billion, driven by improved results at the bailed-out company's main insurance businesses and market-price gains in the value of two major assets. AIG's operating income of $3.1 billion, or $1.65 a share, was up ... 

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Innovation, Customer Service and Emerging Markets Top Insurers’ Concerns

Published - 03/29/2012 12:00 AM

Auto insurers are getting more proactive in preventing car accidents with sensor devices, Big Data, telematics and social media, according to a new study. PwC’s “Top Issues in Insurance,” study reported that innovation is enabling insurers to make better and smarter use of greater amounts of Big Data. ... 

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U.S. to sell $6 billion in AIG stock

Published - 03/07/2012 11:00 PM

WASHINGTON (Reuters)—The U.S. Treasury Department said on Wednesday it will sell $6 billion worth of American International Group Inc. stock and struck another deal for the insurer to pay down $8.5 billion more in obligations, taking a major step forward in an election year to unwind the unpopular crisis-era bailout. ... 

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Captive insurers strengthen business resilience

Published - 01/31/2012 11:00 PM

MIAMI—Resilience is more important than anticipation for businesses, Willis Group Holdings P.L.C. Chairman and CEO Joseph J. Plumeri told the 2012 World Captive Forum on Tuesday, but without a captive insurer a company's resilience is limited. Giving the keynote presentation at the World Captive Forum at the Doral Golf ... 

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Costa Concordia disaster hits marine insurers

Published - 01/28/2012 11:00 PM

ISOLA DEL GIGLIO, Italy—Insurers continue to count the cost of the Costa Concordia cruise ship disaster and attorneys are preparing class action claims on victims' behalf, but experts say the impact of the tragedy on marine insurance rates is not yet clear. The loss of the 126,214 ton ship, ... 

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Cruise liners need tighter safety rules - insurers

Published - 01/24/2012 11:00 PM

LONDON, (Reuters) - Passenger ship operators should tighten up safety procedures and crew training standards to prevent a repeat of the Costa Concordia shipwreck, potentially the costliest marine insurance loss on record, shipping insurers said on Tuesday, "In the past, we ... 

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Availability, pricing of coverage main concerns for insurance buyers

Published - 01/23/2012 11:00 PM

A survey of a global coalition of insurance brokers finds that nearly all believe the top concern facing their clients is the availability and pricing of coverage. The issue is particularly challenging for buyers with large natural catastrophe and supply chain exposures, according to the survey of the 25 ... 

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Cruise Ship Disaster Off Italian Coast May Cost Insurers 400 Million Euros

Published - 01/16/2012 11:00 PM

The weekend grounding of the Carnival Corp. cruise ship Costa Concordia off the coast of Italy with more than 4,000 passengers and crew aboard, may cost insurers more than 400 million euros. The 290-meter Costa Concordia was on a trip around the Mediterranean when it hit rocks near Giglio ... 

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