Agency Management

Wildfires, hurricanes, identity theft and floods. In most cases, these things just happen and can't be predicted. Disasters can strike anyone at any time.

During our annual valuation work for agencies and brokerages across the country, one trend we're noticing is most are forecasting significant declines in contingent income this year, even though commission revenues are holding or increasing slightly.

N.Y. Insurance Superintendent Eric Dinallo has begun an inquiry into whether Allstate Corporation engaged in illegal participation in unregulated insurance markets, after the insurer's CEO wrote an opinion piece calling for federal regulation.

Over the years, I have spoken with literally hundreds, if not thousands of agency owners, and whenever I ask why someone would want to become their client, almost without exception they say they provided great service.

Catastrophe risks can expect to see double-digit insurance premium increases through the rest of this year as underwriting capacity dwindles and the hurricane season approaches, an executive from Marsh said.

Since desperate times often prompt desperate measures, companies should be on the lookout for a spike in criminal acts by employees fearful of losing their jobs in a worsening economy, risk managers were warned here last week.

National Underwriter is seeking entries for its third annual "Award For Excellence In Workers' Compensation Risk Management," sponsored by the National Council on Compensation Insurance.

Moody's Investors Service, citing the impact of stock market declines, downgraded the insurance financial strength rating of National Indemnity Company and the long-term issuer rating of its ultimate parent, Berkshire Hathaway Inc.