| The daily insurance industry news source |  |
- Analysts: Flat reinsurance prices expected as downturn deepens
The reinsurance industry's capital remained adequate amid the financial crisis, but reinsurers could face weak demand and flat rates during the January renewals as the recession severely affected their exposure base, experts said. Reinsurance firms also are expected to see low interest rates, which "make it increasingly difficult to deliver appropriate returns for shareholders without raising prices," one analyst said. "We think it's going to take a very significant cat, even north of $50 billion, for the market as a whole to react across all lines," another analyst said. PropertyCasualty360.com
(10/26), Business Insurance
(10/26), Business Insurance
(10/26)       
 | The SERVPRO® Franchise System is a national leader and provider of fire, water, mold and other specialty cleanup and restoration services. If disaster strikes — no matter the size of the damage — call 1-800-SERVPRO. For more than 40 years, SERVPRO® has helped make it "Like it never even happened." |
| Industry Watch |  | |
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- Insurance will probably remain under state control, regulator says
Illinois Insurance Director Michael McRaith said insurance regulation likely will remain a state function as the proposed optional federal chartering "won't happen." At a conference, McRaith said state regulators are more effective in dealing with interstate licensing and other products that are intended for local needs. Optional federal chartering, which would allow insurers to choose between state and federal regulation, will not succeed because it would result in multiple standards and conflicts, McRaith said. PropertyCasualty360.com
(10/23)
- Ignition interlocks could help curb Maryland's drunken driving problem
 Although Maryland has existing policies that address drunken driving, lawmakers should pass legislation that would require ignition interlocks in cars of all drunken drivers, according to this editorial. The device could help save lives as shown in New Mexico, which has reduced recidivism and traffic deaths linked to drunken driving by requiring the device, the editorial said. While 11 states have enacted ignition interlock laws, Maryland and other states rely on court decisions to install the device, which many drunken drivers fail to comply, it added. The Sun (Baltimore)
(10/26)
| Trends & Technology | | |
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- Insurers' underwriting different from reinsurers, experts say
A "disconnect" exists between insurers and reinsurers as both have different ways of underwriting, some experts say. Unlike insurance carriers, reinsurers use a more disciplined approach and have limited their premium volume while remaining attuned to capital returns, they said. One expert said the comparison is "unfair" because insurers deal with smaller types of risks and "a lot more competition." Business Insurance
(10/26)
| Business Leadership | | |
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- Leading in a crisis is about more than 1 moment
The decisions a leader makes in a crisis aren't the product of snap judgments; they're the result of years of careful training and study, says Capt. C. "Sully" Sullenberger, the US Airways pilot who safely landed his plane in the Hudson River after it malfunctioned this year. Sullenberger says his career amounted to "making small regular deposits in this bank of experience, education and training" that he was able to draw on in a crisis. Sullenberger argues that leadership is a choice individuals have to make day-by-day and moment-by-moment if they want to make a difference. The Washington Post/On Leadership blog
(10/22)
| Best Practices | | |
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- "Perfect" candidates may be anything but
Because there are an abundance of job candidates, employers have gotten too picky and are only willing to hire the "perfect" applicant, Guy Nadivi writes. This is a mistake because these candidates often cost more to hire, become easily bored and jump ship when another opportunity comes along, he writes. Forbes
(10/22)
- Improve written communication to boost image
If you don't want your colleagues to consider you part of their information overload problem, don't send someone an e-mail unless you know it's valuable to the recipient, Chandra Clarke writes. Also, make sure your written reports are well crafted and ask a qualified person to review your efforts, she writes. ThoughtLeaders blog
(10/21)
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