Insurance News

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Most organizations wishing to appoint a new chief executive officer for strategic changes fare better in the long term promoting someone from inside the company rather than hiring from outside “except for the insurance industry, in some cases “according to a new study from Rice University?s Jones Graduate School of Business.

The study, ?Once an Outsider, Always an Outsider? CEO Origin, Strategic Change and Firm Performance,? was co-authored Read the rest of this entry »

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Drivers who think other motorists pose the biggest hazard might want to think again — and pay more attention.

Single-car crashes cause most of the deaths on Delaware roads, and the large majority are blamed on distracted drivers, the AAA Mid-Atlantic mototists? group reported today.

Its analysis of newly released National Highway Traffic Safety Administration data on roadway statistics also shows such deaths are on the rise. Single-vehicle Read the rest of this entry »

NEW YORK?Barring a major catastrophe or unforeseen event, risk managers should see stable property/casualty rates at least through the beginning of 2010, executives from Marsh & McLennan Cos. Inc. said Wednesday.

The economic turmoil that has characterized the past 12 months has not, as many had expected, ended the prolonged soft insurance and reinsurance markets, the executives said on a webcast sponsored by MMC?s brokerage unit, Marsh Read the rest of this entry »

NEW YORK?Standard & Poor’s Corp. on Monday said it is maintaining its negative outlook on all North American insurance sectors except reinsurance, which it said weathered the financial crisis by minimizing its investment exposures.

The negative outlook that has been on most North American insurance lines, both personal and commercial, since August 2008, is expected to continue during the next six months, New York-based S&P said in its Read the rest of this entry »

An online poll of home and auto insurance customers has found there is a generally high rate of satisfaction among them with the companies that provide their coverage.

According to the public opinion study by Malvern, Pa.-based Insurance Research Council, 91 percent of respondents with auto insurance said that they were either very satisfied (61 percent) or fairly satisfied (30 percent) with their current auto insurer.

Eighty-nine Read the rest of this entry »

Icy winter roads and vacation-clogged summer highways might seem the most dangerous for motorists, but new research says fall is when driving is at its deadliest.

A new report has found that October has the year’s highest death rate per distance driven. In fact, the danger of dying in a crash is 16 percent greater in October than in wintry March ? the safest month of the year.

“Everything else being equal, inclement weather ? Read the rest of this entry »

A majority of large insurers in a survey said they are planning to expand internationally within the next 12 months despite the ongoing economic turmoil.

The poll released by the consulting firm Accenture, asked more than 100 major property-casualty and life insurance carriers in 16 of the world’s largest insurance markets how they envision profitable international expansion in the current economic and financial turmoil.

Among Read the rest of this entry »