Posted by Tim DeSett on May 3, 2013 | 
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Despite large losses from Superstorm Sandy and a challenged investment environment, U.S. Property and Casualty carrier profitability improved in 2012. The improvement came as a result of rate increases and decreased losses from the previous year.
Posted by Tim DeSett on March 27, 2013 | Be the First to Comment
AM Best is reporting that commercial insurance rates are generally holding steady to trending slightly higher. In a recent interview with me, Best’s John Weber and I discussed how property catastrophe pricing was starting to dip before Sandy hit the Northeast U.S.
See the video on insights about market trends and what commercial insurance buyers and risk managers can expect from carriers in the months ahead.
Posted by Ian Harrison on March 15, 2013 | Be the First to Comment
High profile product recall incidents are never far from the headlines these days. Given how costly a recall can be – and the damage it can do to a company’s reputation and share price – it is hardly surprising there has been a surge in interest in specialist insurance products that provide protection against the various impacts of such incidents.
Posted by Tim DeSett on February 6, 2013 | Be the First to Comment
The results of the first nine months for the U.S. property and casualty market were recently released indicating a U.S. property and casualty market with near-record capacity, a large drop in CAT losses compared to the prior year, and a combined ratio of 102.2, down from 110.5 the prior year. While investment gains were still lacking, overall, the figures indicated that the industry’s balance sheet is strong. However, Superstorm Sandy’s effect is not included in these results.
This report shares insights from Lockton experts about the happenings in the market including pain points, overall trends, and Superstorm Sandy’s effect. Special sections on the construction industry and California are included.
Posted by Tim DeSett on February 1, 2013 | Be the First to Comment
Risk managers and other executives are seeing rising pressures on the cost of their workers’ compensation insurance programs. Recently, my colleague Eric Silverstein talked with AM Best about what is driving rising workers’ comp cost.
As he explains, the cost pressures spring from both regulatory issues and rising loss costs. One particular pain point right now is the rising medical inflation, most notably the dramatic increases in prescription drug costs. Part of that is because of abuse of opioids.
Eric explains more in this video interview with AM Best’s John Weber.
http://www.ambest.com/v.asp?v=silverstein113
If you want to know more about how to deal with opioids, our Lockton colleague Keith Rosenblum has a comprehensive white paper on the issues and best practices on how companies can reduce opioid abuse.
