Agency Management

The World Health Organization declared today that swine flu H1N1 virus is now a full-fledged pandemic leading an insurance brokerage to warn businesses they must be ready to cope with its effects.

Five insurance trade groups from the property-casualty and life and health insurance businesses said they will meet next month in Washington to discuss health insurance reform concerns and lobby lawmakers.

Not all the news is bleak on the employment practices liability front for employers and insurers, but in a down economy, there are more dim forecasts than bright spots ahead, experts say.

Employment-related claims could be on the rise after a recent U.S. Supreme Court decision determined that a collective-bargaining agreement which requires union members to arbitrate age discrimination claims is enforceable as a matter of federal law.

Broker and carrier representatives have slightly different views of conditions in the overall employment practices liability market, but all agree that unchanged prices and enhanced service offerings are possible for individual accounts.

While some are expecting a hard market around the corner, the current employment practices liability insurance market is moderately soft.