COMMERCIAL INSURANCE: What’s next? A hardening market with still-abundant capital means carriers will respond to the right risks By Joseph S. Harrington, CPCU At the start of 2020, much of the talk in commercial insurance seems to center on rate hikes and tightened underwriting in both property and liability lines. This apparent hardening of the market comes at a time when earnings have been hit by property catastrophes and growing
Commercial Lines
PUT IT DOWN How are you making sure your clients are safe behind the wheel during Distracted Driving Awareness Month and beyond? By Christopher W. Cook April is Distracted Driving Aware- ness Month, and one insurer is pushing for hands-free laws in all50 states, as the ones that have already passed such legislation—only 21 states and the District of Columbia as of February—have seen an average 15.3% decrease in vehicle
Risk Managers’ Forum By Richard (Dick) G. Clarke, CIC, CPCU, RPLU EXECUTIVE LIABILITY RISKS Tracking the exposures and insurance options Executive liability insurance encompasses directors and officers liability, employment practices liability, and fiduciary liability. Each area has specific exposures; common claims allegations; focused legislation at the national, state and local levels, and available coverages. Ample coverage is available for private companies, including family businesses, and nonprofit organizations. The market is
WORKERS COMPENSATION CLASS CODES: PAST AND PRESENT Today’s sophisticated system has its roots in the Code of Hammurabi By Daniel Rahl What’s my rate? It’s a question that every insured has likely asked, and every agent or underwriter must answer. But how do insurers know? The answer lies in the system of risk exposure classification that’s been developed over the course of several millennia. Classification codes are such a commonplace
LEADING WITH COMP Open the door to great prospects by becoming an expert in workers comp By Elisabeth Boone, CPCU Let’s have a show of hands: Who enjoys prospecting? That’s what I thought. Prospecting for new clients can be stressful, tedious, and often unproductive. Even seasoned agents and brokers undertake this task with a sigh of resignation if not a shudder of dread. Fear of rejection looms large; and, firm
