Financial Management Archives - Insurance Journal Research

Premium Finance Directory 2024

Derence Walk — Mon, 04 Nov 2024 19:30:41 +0000

Welcome to Insurance Journal’s 2024 Premium Finance Directory, a comprehensive listing of premium finance companies able to assist agents and brokers with their clients’ financing needs.

We hope you find this directory to be a valuable resource when searching for financing options for your clients. All company information listed in this directory was directly submitted to Insurance Journal. To be listed in future editions of Insurance Journal’s Premium Finance Directory, or any other directory, contact Kristine Honey at: khoney@insurancejournal.com.

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Advice: Why Managing Your Cash Flow is Critical Right Now

Pamela Simpson — Thu, 26 Mar 2020 14:26:58 +0000

This one-page brief offers important financial advice for small and midsize agencies as well as your business clients. Written by two commercial lenders to guide their clients toward better cash flow modeling, this brief offers advice in preparation for meeting with lenders as well as the Small Business Administration for potential financial relief. We thank … more

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Green Bond Highlights 2017

Pamela Simpson — Thu, 11 Jan 2018 18:04:37 +0000

This report shares advancements in the green bond initiative over the course of 2017, including involvement by Canadian Manulife Financial, Australian QBE Insurance and Investa.

You’ll find useful graphics to illustrate trends and visualize data, and gain insights into what to expect from the climate bond arena in 2018.

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101 Sales, Marketing & Agency Management Ideas 2016

Andrew Simpson — Fri, 14 Jul 2017 13:33:19 +0000

Insurance Journal’s annual compilation of the best ideas from and for the insurance industry. Compiled by Editor Andrea Wells.

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Congressional Budget Office Cost Estimate of Republicans’ American Health Care Act

Andrew Simpson — Mon, 13 Mar 2017 22:32:56 +0000

The Congressional Budget Office and the staff of the Joint Committee on Taxation (JCT) estimate that enacting the Republicans’ American Health Care Act would reduce federal deficits by $337 billion over the coming decade and increase the number of people who are uninsured by 24 million in 2026 relative to current Affordable Care Act (Obamacare).

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Insurance Agency Salary Survey 2017

Andrew Simpson — Thu, 09 Mar 2017 14:07:12 +0000

Salaries for insurance agency management, owners, principals and producers were up in 2016. Total compensation for support staff also increased, although not by as much as the year before. That’s according to Insurance Journal’s 2017 Agency Salary Survey, which also shows that insurance agencies that stress “soft” benefits have the upper hand in recruiting workers in today’s competitive job market. Employees are increasingly seeking out “soft” benefits in addition to traditional “hard” benefits from their employers.

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U.S. Fact Sheet on Covered Agreement with European Union

Andrew Simpson — Fri, 13 Jan 2017 17:42:16 +0000

The United States has negotiated a Covered Agreement with the European Union (EU). The agreement covers three areas of insurance oversight: reinsurance, group supervision and the exchange of insurance information between regulators.

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What Rating Agencies Really Want to Know About Your Catastrophe Risk

Andrew Simpson — Fri, 14 Oct 2016 14:49:41 +0000

Using her frequent interactions with rating agencies as a guide, catastrophe risk expert Karen Clark dispels some myths about what agencies want to know about the use of catastrophe models by carriers they rate and about carrier cat-loss potential. It’s not about the model, she says, but about the model assumptions selected and the credibility … more

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Tools for Successful P/C Insurance Leaders

Kelly Delamora — Tue, 15 Mar 2016 19:11:36 +0000

Whitepaper
Tools for Successful P/C Insurance Leaders

CEOs and executives from OneBeacon Insurance Group, XL Catlin, Hiscox USA, QBE North America, Munich Reinsurance America and Zurich North America share their approaches to maintaining creativity and innovation in their daily jobs.

They value work-life balance, personal interaction and time alone to think as ways to help keep them engaged, involved and innovative.

List of included interviews:

Maureen A. Phillips, SVP and General Counsel, OneBeacon Insurance Group
Benjamin Walter, CEO, Hiscox USA
Dave Duclos, CEO, QBE North America
Kathleen Savio, President of Programs and Direct Markets, Zurich North America
John Vasturia, President of Specialty Markets, Munich Reinsurance America Inc.
Joe Tocco, Chief Executive for the Americas, XL Catlin

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Insurance Agency Salary Survey 2016

Andrew Simpson — Fri, 26 Feb 2016 16:47:28 +0000

Results from Insurance Journal’s comprehensive survey on property/casualty independent insurance agency executive, management and staff compensation and benefits including salaries by position, agency size and region. The 2016 Agency Salary Survey captured data from nearly 1,400 respondents — owners, producers and agency support staff — from every state.

Women who are top leaders or producers in property/casualty insurance agencies on average make less than men, according to the results. While females make up almost half of all agency employees (48.3 percent) responding in this survey, overall, the results found they earn considerable less than male agency employees. Even when comparing the same job, such as commercial lines manager where respondents to the survey were equally men and women, men out-earned their female counterparts by 70 percent on average ($126,529 to $74,239), according to the survey.

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Wells Fargo: 2016 Insurance Market Outlook

Andrew Simpson — Mon, 04 Jan 2016 22:20:32 +0000

Despite rate reductions and low investment returns, commercial lines insurance is on track for positive underwriting gains in 2016, according to Wells Fargo Insurance’s forecast. Favorable losses across most insurance lines and lack of multiple catastrophic property losses are driving this trend. In 2016, Wells Fargo anticipates higher revenues, payrolls, property values, investment returns along with further industry consolidation and more data analysis.

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Willis: Marketplace Realities 2016-Bringing the Pieces Together

Andrew Simpson — Mon, 04 Jan 2016 22:11:24 +0000

Commercial insurance rates will further soften while industry consolidation will present challenges to insurance buyers in 2016, predicts Willis Group Holdings plc. Consolidation among some of the largest insurance carriers is altering the marketplace, which means that insurance buyers, while still enjoying a buyer’s market, will face new choices and the strong possibility that more consolidation and marketplace transformation lies ahead, according to Willis.

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2016 Property Casualty Insurance Outlook

Andrew Simpson — Mon, 04 Jan 2016 22:02:40 +0000

For 2016 U.S. property/casualty insurers will face ongoing disruptive change from technology and an economy that doesn’t improve enough to significantly boost insurance sales, according to Ernst & Young (EY). The consulting firm says digital technologies, including analytics and telematics, will continue to transform the industry and ridesharing and other elements of the sharing economy … more

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PwC: Top Issues Facing the Insurance Industry 2015

Andrew Simpson — Fri, 23 Oct 2015 13:02:21 +0000

Consultant PwC looks at a wide range of issues including the role of advanced analytics, the regulatory environment, potential impacts of automated driver assistance systems and autonomous cars, group insurance and the rise of exchanges, the insurance deals market, talent transformation and insurance taxation.

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Guidance for 6-Part Test for Classifying Employees

Andrew Simpson — Fri, 17 Jul 2015 10:15:38 +0000

This U.S. Department of Labor memo offers new guidance on classifying workers as employees or independent contractors under the federal Fair Labor Standards Act (FSLA), an issue that has attracted renewed attention in the on-demand economy.
When determining whether a worker is an employee or independent contractor, all of the factors of the six-part “economics realities” test must be considered in each case, and no one factor is determinative of whether a worker is an employee. However, the factors themselves “should not be applied in a mechanical fashion, but with an understanding that the factors are indicators of the broader concept of economic dependence,” according to the memo.

The six factors or questions in the “economic realities” test include:

Is the Work an Integral Part of the Employer’s Business?
Does the Worker’s Managerial Skill Affect the Worker’s Opportunity for Profit or Loss?
How Does the Worker’s Relative Investment Compare to the Employer’s Investment
Does the Work Performed Require Special Skill and Initiative?
Is the Relationship between the Worker and the Employer Permanent or Indefinite?
What is the Nature and Degree of the Employer’s Control?

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