Best's Review 1999: Vol 99-100 Index

15 Pages·1999·4.3 MB·English

1999
Index to
Best’s Review Articles
These articles appeared in the property/casualty edition.
|I sAsgencuy es
risk, others are likely to follow. Auto Results. Top 100 leading writ-
Moving Toward Uniformity. State Sidebars: Sorema Securitizes Cata- ers of auto physical damage, all com-
regulators will be under the gun to strophe Risks. U.S. Utilities Might mercial auto, all private passenger
approve multistate uniform agent Enter Cat-Bond Market. July, p. 54. auto, auto liability and total auto. By
licensing if Congress enacts a nation- The New Face of the Alternative state: auto liability, auto physical dam-
al initiative. May, p. 77. Market. The alternative market now age, all private passenger auto, all com-
Pressure to Sell Out. Market forces accounts for nearly half of the com- mercial auto. Auto reinsurance. Octo-
threaten to undermine small indepen- mercial property/casualty business. ber,p . 38.
dent agents and may force them to Market forces promise to push it even Driving Down Rates. Auto premi-
join large organizations to survive. Sep- higher. February, p. 28. ums are lower in states where the mar-
tember, p. 107. Wrap It Up. A captive insurance ketplace determines the rates, accord-
Striking a Match. Insurance brokers company established to facilitate a ing to a National Association of
of all sizes share common challenges construction wrap-up program can Independent Insurers study. Septem-
as they struggle to grow in a continu- manage risks efficiently and may be a ber, p. 101.
ing soft market. October, p.99. profit center for its owner. February, High-Speed Merge. With more than
p37. half the personal-lines auto market in
the hands of seven giants, smaller play-
A Competition to Grow. Chairman ers see mergers and specialization as
John Kessock Jr. says the keys to Com- key to their survival. October, p. 30.
monwealth Risk’s success in designing Highway Safety for Dummies. At
alternative market programs are persis- the Insurance Institute for Highway
tent salespeople and managers who Safety, the pursuit of safer driving is a
stay involved. July, p.67. high-speed chase. June, p. 92.
Branching Out. Vermont has Making Waves. Catherine A. Rein
launched two new forms of captive vowed to make MetLife Auto & Home
insurance companies designed to offer one of the top 10 writers of proper-
businesses more flexibility in their ty/casualty personal lines. With the
alternative risk-transfer vehicles. Octo- acquisition of St. Paul’s personal lines,
ber, p.85. she’s getting close. September, p. 64.
Growth Alternatives. Even with Surpassing Lane. Progressive, the
rock-bottom insurance prices, captives fifth-largest auto insurer in the Unit-
still find a reason to grow. July, p. 41. ed States, has an ambitious goal: to
Judge Delivers Bad News to UPS. become No. 1. Getting there means
United Parcel Service could pay near- relentlessly focusing on rapid cus-
ly $1.7 billion and is revamping how tomer service, state-of-the-art tech-
it insures packages after the U.S. Tax nology and measuring, measuring,
Court ruled that its offshore reinsur- measuring. October, p. 58.
ance setup was a sham. September, A Nonstandard Life. Dudley Moore Waging the War for Independents.
p.95. Jr. began selling auto insurance by Progressive Corp. is pushing for an
Securitization Frontierland. Tokyo scouting for bad drivers in trucking ever-larger share of independent-
Disneyland is the first noninsurer to yards and court records. That was the agents’ business. One front: capturing
issue bonds to cover catastrophe beginning of nonstandard insurance. their computer desktops. Technology
losses, but in the small world of July, p. 89. Supplement, September, p. S-17.
130 BEST'S REVIEW * JANUARY 2000
1999
Index to
Best’s Review Articles
These articles appeared in the property/casualty edition.
|I sAsgencuy es
risk, others are likely to follow. Auto Results. Top 100 leading writ-
Moving Toward Uniformity. State Sidebars: Sorema Securitizes Cata- ers of auto physical damage, all com-
regulators will be under the gun to strophe Risks. U.S. Utilities Might mercial auto, all private passenger
approve multistate uniform agent Enter Cat-Bond Market. July, p. 54. auto, auto liability and total auto. By
licensing if Congress enacts a nation- The New Face of the Alternative state: auto liability, auto physical dam-
al initiative. May, p. 77. Market. The alternative market now age, all private passenger auto, all com-
Pressure to Sell Out. Market forces accounts for nearly half of the com- mercial auto. Auto reinsurance. Octo-
threaten to undermine small indepen- mercial property/casualty business. ber,p . 38.
dent agents and may force them to Market forces promise to push it even Driving Down Rates. Auto premi-
join large organizations to survive. Sep- higher. February, p. 28. ums are lower in states where the mar-
tember, p. 107. Wrap It Up. A captive insurance ketplace determines the rates, accord-
Striking a Match. Insurance brokers company established to facilitate a ing to a National Association of
of all sizes share common challenges construction wrap-up program can Independent Insurers study. Septem-
as they struggle to grow in a continu- manage risks efficiently and may be a ber, p. 101.
ing soft market. October, p.99. profit center for its owner. February, High-Speed Merge. With more than
p37. half the personal-lines auto market in
the hands of seven giants, smaller play-
A Competition to Grow. Chairman ers see mergers and specialization as
John Kessock Jr. says the keys to Com- key to their survival. October, p. 30.
monwealth Risk’s success in designing Highway Safety for Dummies. At
alternative market programs are persis- the Insurance Institute for Highway
tent salespeople and managers who Safety, the pursuit of safer driving is a
stay involved. July, p.67. high-speed chase. June, p. 92.
Branching Out. Vermont has Making Waves. Catherine A. Rein
launched two new forms of captive vowed to make MetLife Auto & Home
insurance companies designed to offer one of the top 10 writers of proper-
businesses more flexibility in their ty/casualty personal lines. With the
alternative risk-transfer vehicles. Octo- acquisition of St. Paul’s personal lines,
ber, p.85. she’s getting close. September, p. 64.
Growth Alternatives. Even with Surpassing Lane. Progressive, the
rock-bottom insurance prices, captives fifth-largest auto insurer in the Unit-
still find a reason to grow. July, p. 41. ed States, has an ambitious goal: to
Judge Delivers Bad News to UPS. become No. 1. Getting there means
United Parcel Service could pay near- relentlessly focusing on rapid cus-
ly $1.7 billion and is revamping how tomer service, state-of-the-art tech-
it insures packages after the U.S. Tax nology and measuring, measuring,
Court ruled that its offshore reinsur- measuring. October, p. 58.
ance setup was a sham. September, A Nonstandard Life. Dudley Moore Waging the War for Independents.
p.95. Jr. began selling auto insurance by Progressive Corp. is pushing for an
Securitization Frontierland. Tokyo scouting for bad drivers in trucking ever-larger share of independent-
Disneyland is the first noninsurer to yards and court records. That was the agents’ business. One front: capturing
issue bonds to cover catastrophe beginning of nonstandard insurance. their computer desktops. Technology
losses, but in the small world of July, p. 89. Supplement, September, p. S-17.
130 BEST'S REVIEW * JANUARY 2000
that coverage will soon become a Claims Information at Your Finger-
{BEST'S REVIEW minor segment of the world of securi- tips. Enabling agents and risk man-
tized insurance products. April, p. 73. agers to get claims data over the Inter-
PR ey ERA EMM 07 me f Exposing Catastrophe Risk. Special net is a cutting-edge service—but not
Report: An A. M. Best Co. catastrophe- for long. May, p. 21.
exposure database will enhance its rat- Claims Triage. New data warehous-
ing evaluation and provide valuable ing and predictive modeling tech-
ne exposure data and benchmarks for the niques can help reduce claims over-
HIGH-SPEED MERGE industry. June, p. 47. payments. March, p. 105.
How Much Is That Cat Bond? Pricing Collision Course. Insurers and
catastrophe bonds involves more automakers are at odds over the use of
than analyzing risk. April, p. 77. less expensive replacement auto parts.
Insured Cat Losses Hit $15 Bil- April, p. 43.
lion Worldwide in 1998. Wind- Getting in Step. A creative contract
storms and floods accounted for can improve the service a third-party
90% of the insured catastrophe loss- administrator delivers. July, p. 77.
es, according to a Munich Re study. Maintaining Profits. Cost indexes
February, p. 69. for major property/casualty lines
It’s Getting Hot Down Here. Insur- remained above the inflation rate in
ers around the world disagree about 1998. July, p. 63.
A Bigger Bite of the Apple. Two the risks of global warming. But all Meeting the Claims Challenge. Busi-
industry trade groups plan to acquire worry about weather-related losses. ness-savvy claims managers will use
thrift charters to help independent August, p. 47. technology to save time and money.
agents. January, p. 74. Lessons in the Wind. In his book, July, p. 101.
Thrifty Moves. Will consumers William Baily uses his experiences
want checking accounts, credit cards from Hurricane Andrew and the Okla-
and home-equity loans from the com- homa tornadoes to illustrate how the Commercial Lines Unshackled.
panies that insure their homes, their industry has changed its approach to Deregulation of commercial insurance
cars and their lives? Insurers and catastrophes. August, p. 41. lines is gaining support state by state,
agents are banking on it.August, p. 83. Safe House. State Farm’s new proto- but many disagree about how it
Trickle-Down Consolidation. Sure, type for a hurricane-proof house should be shaped. May, p. 28.
banks and insurers are gobbling up demonstrates how to mitigate catastro- Costly Mistakes. Highly publicized
agencies. But some producers would phe losses. August, p. 26. cases of contaminated and defective
rather be eaten by one of their own. Shoring Up Cat Risks. Insurers can products may spur sales of recall-
March, p. 52. use capital, reinsurance and catastro- related risks. October, p. 89.
When Banks Met Brokerages. It’s phe options to reduce the cost of Discriminating Risk. A study of age-
just the beginning of the relation- financing their catastrophe risks. Feb- bias lawsuits indicates that discount-
ship, but it looks like it will last. Janu- ruary, p. 60. ing employment-practices liability
ary, p. 71. Taming the Big Cats. Has Florida
found a way to avoid post-catastrophe
Career Issues market crashes, or has it inadvertently
CHICAGO/ILLINOISI/N.W. INDIANA
The Road Less Traveled. Industry set the stage for another market melt- DEFENSE ATTORNEYS
consolidation has slashed jobs, but down? March, p. 74.
some people are blazing their own The Eyes of the Storm. On the Six Lawyer Firm Handling:
trails to career advancement. Decem- prowl with insurance companies’ cata- General Liability
Workers’ Comp.
ber,p . 22. strophe teams as they prepare for Hur-
Coverage Analysis
ricane Dennis. November, p. 28. Civil Appeals
Up to Code. The insurance industry
Advance Disaster Relief. Cat bond and building officials are working More Information At:
buyers find that risk management is a together to construct safer and less- www.wolf-chicago-law.com
maturing field. February, p. 65. costly buildings. August, p. 37.
WOLF & ASSOCIATES
An til Wind Blows. America’s top
25 East Washington Street
hurricane prognosticator is predicting
Chicago, Illinois 60602
an upcoming season that could be Burning Questions. A computer- Phone: [phone]
nasty and expensive. June, p. 53. based training program is designed to
Beyond Catastrophes. Insurers increase the number of successful For More Information Contact:
have only recently grown comfort- arson investigations and save insurers Steven C. Wolf, Esq.
able with cat bonds, but financiers say money. November, p. 111.
BEST’S REVIEW * JANUARY 2000 131
coverage to large employers may helping insurers underwrite the risks.
BESTS REVIEW.
prove costly to insurers. October, November, p. 117.
p: it7. It’s in the Air. Poor indoor air
Keeping Intruders at Bay. Kidnap- quality may cost insurers more. Janu-
pings, unexpected illnesses and com- ary, p. 79. Redeveloping the Urban Market
puter virus invasions are among the Spill Bills Disputed. Emergency
threats that companies face as they response agencies should have a fee
expand. Commercial-lines innovations schedule for hazardous spill cleanup
g
help protect them from emerging and be prepared to produce receipts.
exposures. July, p. 81. August, p. 90.
’ 2
Superfund Fallout. Insurers can
resolve environmental insurance cov-
Customer Connections. Used togeth- erage claims less expensively by
er, direct-response marketing and the revamping the way they manage these .r a
Internet can provide insurers with an liabilities. February, p.51.
effective sales strategy.August, p.91.
Off the Shelf. Producers are finding '
new opportunities for affinity market- Accounting for Relationships. New
ing in warehouse clubs and car show- FASB rules would redefine control and
rooms. February, p. 73. ban pooling of interests. June, p.73.
Selling the Cross-Sell. Insurers are Assets of Top 100 Property/Casual- 1998: The Year in Review. The
using rewards, penalties and, most of ty Companies. November, p. 70. biggest news stories in 1998 included
all, training to motivate property/casu- Defining Derivatives. Are derivatives failed efforts at financial-services
alty agents to sell life policies to their embedded in insurance and annuity reform and the fight between health
customers. September, p. 73. contracts? That depends on your defini- insurers and doctors. January, p. 43.
The Direct Approach. Before tion of derivative.April, p.65. An Emerging New Landscape. Ten
they initiate direct sales, insurers Managing the Volatility Link. Better predictions point to change on a scale
need to cement relationships with financial modeling may hold the key never before seen. Review/Preview
their independent intermediaries. to better management of insurance Supplement, January, p. S-2.
March, p.91. risk. March, p. 83. Analysts Share Dim View of the
Putting a Price Tag on the Millenni- The Fourth Element. To the tradi- Industry. Publicly held insurance com-
um. Y2K liabilities could cost U.S. tional lineup of life/health, panies are bad bets for investors these
insurers up to $35 billion. June, p. 77. property/casualty and reinsurance days. January, p. 35.
products, some insurers have added a By Line By State Results. Leading
new capability: fund management. writers by line and by state.
Cleaning Up the Deal. Insurers are November, p. 60. August, p. 76.
helping developers turn contaminated The Rest of the Loss Reserve Story. By the Numbers. A statistical review
sites into ballparks and industrial Dynamic financial analysis provides of the leading writers of 36 lines of
parks. Environmental technologies are essential planning information in tur- business including auto, homeowners,
bulent economic times. June, p. 85. commercial multiperil, workers’ com-
ps yey pensation and medical malpractice.
July, p. 32.
Getting a Jump on Crime. Insurers Competitive Platform. These days,
are using new computer-based tech- execution and performance matter
nologies to fight an estimated $20 bil- even more. Review/Preview Supple-
lion annually in auto fraud. ment, January, p. S-6.
October, p. 73. Corporate Changes. 1998 was
O’BRIEN & HENNESSY Hired Guns. Some insurers are suc- another busy year of change for insur-
SUBROGATION NATIONWIDE cessfully marketing their fraud investi- ance companies. May, p.61.
gation expertise to other insurance Distribution. The fear of channel
http://www.subrogation.net companies. August, p. 70. conflict is giving way to a world of
many channels. Review/Preview Sup-
Telephone: [phone] plement, January, p. S-11.
ask for attorney Hennessy or Walker Home Improvement. Catastrophes Insolvency: Will Historic Trends
or fax 1-877-SUB-ATTY for information. hurt homeowners results last year, Return? Special Report excerpt:
John J. O’Brien, JD, CLU, CPCU but direct premiums grew by 6. 5%. Behind insurance insolvencies are
September, p. 56. often a confluence of too-rapid
A
growth, insufficient reserves and
132 BEST'S REVIEW * JANUARY 2000
management problems. March, p. 59. Slip Sliding Ahead. Financial Out- Out of the Shadows. Midsized Reac
Leading by Example. Net premi- look:Underwriting results deteriorated wants to stand out in troubled Aus-
ums written for the property/casual- in 1998, with few signs of rebound. tralian reinsurance market. July, p. 85.
ty industry grew by 1. 6% in 1998. Review/Preview Supplement, January, Picking Up the Pieces. South
July, p. 23. p.S-17. Korea’s government pulls away from
Living on the Edge. Technology: A Squeeze Play. Consolidation will its close relationship with insurers as it
company’s technological platform will thin the ranks of property/casualty demands greater solvency. September,
prove to be the most important source insurers in the next five years. p.87.
of operating flexibility. January, p. 14. Review/Preview Supplement, January, Reaching Out. Through a series of
Middle Market: The Beauties and p. S-3. acquisitions, Employers Re aims to
the Beasts. Review/Preview Supple- Strategic Defense Initiatives. As extend its base in Europe and build
ment, January, p. S-7. mutual insurers convert to stock new beachheads in the U. S. and Lon-
Mostly Mutual. The National Asso- companies, some believe they need don markets. February, p. 57.
ciation of Mutual Insurance Compa- to protect themselves from hostile The New Angle on Bermuda. Initial-
nies believes there are valid options takeovers. September, p. 81. ly a place for captives to reside, then a
to mutual ownership—but don’t look Struggling Uphill. Return On Equi- rich resource for cat cover, Bermuda’s
for it to change its name quite yet. ty: Publicly traded companies are booming international insurance mar-
March, p. 43. under increased pressure to generate ketplace continues to evolve. April,
On the Mark. Originally a way for adequate returns. Review/Preview p. 20.
firefighters to identify insured build- Supplement, January, p. S-21.
ings, fire marks are now collectors’ Talking Up Insurance. The Insur-
items that are sometimes quite valu- ance Education Foundation helps
able. September, p. 69. young people understand how insur-
ance can help them. September, p. 117.
The Battle for Returns. Investments:
Market volatility and declining interest
rates highlight the role of risk manage-
ment. Review/Preview Supplement,
January, p.S-8.
VILLANOVA
ee eS
Anarchy in the Monarchy. As the University
United Kingdom revamps its regula-
tion of financial services, broker
groups battle for authority. January,
p. 59. Elmer R. Deaver Scholarship
Developing a Brand Name. With a
Villanova University is proud to
string of acquisitions under its belt,
announce the availability of the
Ace Ltd. has launched a global brand-
ing campaign. January, p. 63. Elmer R. Deaver Scholarship. The
Follow the Leader. Some insurers purpose of this scholarship is to
may be jumping into the European assist family members and descen-
market without a clear idea of the pos-
dants of the former Quaker City Life
People to Watch in the Coming sible outcome. June, p. 103.
Insurance Company employees who
Year. Insurance is more than compa- India: Insurers Wait in the Wings. A
formally apply for the scholarship at
nies and numbers. Here are a few peo- tangle of government bureaucracy and
ple likely to affect the course of the political maneuvering has kept foreign Villanova University and are ac-
industry. January, p. 37. insurers at bay. But now, India may be cepted for admittance. Selection for
Reconstructing Mutuals. Opinion: close to privatizing its insurance indus- the scholarship is based on financial
Mutual holding companies are a viable try. November, p. 54. need and academic achievement.
business option, especially in light of a Mining Untapped Markets. Insurers
High school students interested in
recent IRS ruling. March, p. 49. are targeting South Africa’s emerging
applying for this scholarship may do
Redeveloping the Urban Market. black middle class. March, p. 38.
Insurers believe there’s money to be New Rules in the Old Country. Even so by contacting Mr. George Walter,
made in America’s cities, but they in a more unified Europe, Chubb finds Director of Financial Assistance,
face hurdles including the perception that a country-by-country, customer-dri- Villanova University, 800 Lancaster
that they don’t want to write the ven focus remains key to increasing
Avenue, Villanova, PA 19085.
business. March, p. 28. market share. December, p. 66.
BEST'S REVIEW * JANUARY 2000 133
1999 PROPERTY/C SASUALTY INDEX
Toward a Global Private Insurance rancorous alternative to litigation. seize the future. February, p. 41.
Industry. Robert J. Gibbons, leader and April, p. 59. Navigating Sea Changes. The new
president of the International Insur- SplittingtheDifference. An online leader at Travelers Property Casualty
ance Foundation, looks ahead to a dispute resolution service is being takes a disciplined approach to running
time when emerging countries will marketed to insurers. March, p. 103. the $10. 5-billion insurance company
reap the benefits of a robust, profes- Sue, Don’t Sue, Sue. As Allstate that holds the line on prices. May, p. 43.
sional private insurance industry. awaits pending litigation, the insur-
March, p. 69. ance industry must decide what it
should—and can—tell claimants about
their options. March, p.97.
A Question of Timing. Companies
are suing their insurers to recover the
costs of making computer systems Building Up Business. Specialty
Y2K compliant, basing their cases on medical-malpractice insurers are
an arcane maritime practice. Insurers adding lines of business to diversify
call the lawsuits ridiculous, but if they risk and accommodate their clients’
succeed it'll be no laughing matter. needs. But they run the risk of costly
November, p. 75. missteps. December, p. 87.
Confidentiality Issue Sparks Contro- Medical Malpractice Statistical Stud-
versy. Defense attorneys question ies. Top 100 and leading writers by
whether attorney-client privilege is state, December p. 94.
breached when insurers outsource liti- Hell’s Waiting Room. Medical mal-
gation audits. February, p. 77. practice is showing signs of recovery
Delving Into the Past. Case law can now that more disciplined pricing. and
help insurers collect retrospective pre- underwriting have been instituted.
mium, if they proceed to court cau- May, p. 71. Product Matters. Hartford’s Ramani
tiously. December, p. 107. Ayer believes that the company’s prod-
Driving Down Defense Costs. One uct innovations—sold through already
insurer’s litigation-management strate- A Feud Between Friends. successful distribution channels—will
gy illustrates how law firms will have Franklin Mutual Insurance Co. dominate the financial-services market-
to adapt as insurance companies work emerged victorious in its fight to place. November, p. 103.
to reduce their legal defense costs. keep Mercer Mutual Insurance Co. Putting on the Squeeze. Allstate’s
July, p. 93. from demutualizing. May, p. 48. new chief executive officer has chal-
Resolving Y2K Disputes. Y2K Battle in the Board Room. Reliance lenged senior management to grow
lawsuits are leading to a renewed sets deadline for ousted CEO to buy the powerful insurer at a faster pace.
interest in alternative dispute reso- Sable Insurance Co. May, p. 53. August, p. 53.
lution as a cost-effective and far less Bringing Home the Acquisition. Staying the Course. Bernard
Conseco has brought together Hengesbaugh, CNA’s incoming chair-
Professional more than 40 companies. Now it’s man and chief executive officer, is
time to make them work as one. under the gun to improve financial
Services Technology Supplement, September, performance. February, p. 47.
p.S-20.
Charging the Hill. With competitors
Metropolitan Life and Prudential plan- Global Spending Spree. Interna-
Take your CPCU®, AIC, ARM, or
ning to go public, Nationwide must tional reinsurers are dipping into
any IIA class at home online!
keep its options open to remain com- their capital-rich coffers to find the
www.ICOPE.org
petitive. June, p. 90. funds to finance more acquisitions.
Now you can get the help of our industry’s top experts any
time from any where for any class! You'll love it or your Deliver the Message. Effective com- June, p.55.
money back! Most employers pay for public class! munications can help clinch the deal The M&A Way. Mergers and acqui-
Call 1-877-GO-ICOPE
Insurance Center for Online Professional Education in a demutualizatioJnul.y , p.59. sitions have led to a handful of mega
Finishing School. Dozens of insur- brokers—a trend that major insurers
ance executives have honed their applaud. April, p.87.
CiC ard llA
skills at American International Group,
candidates
then left to lead other companies. Sep-
I guarantee you'll learn more in less time with
The Bumham System - or your money back! tember, p. 40. Forming a Consensus. The National
Ray Burnham, Cpea, Clu, Cie, Aic, Abu, Arm, Au, Aai, Are Less-Risky Business. Jerry Choate Association of Insurance Commission-
19 Everett St, Southbridge; MA 01550
says he’s leaving behind an Allstate ers is focusing on upgrading the
Call 1-888-BURNHAM Now!
that’s bigger, more stable and ready to industry’s technological capabilities
134 BEST’S REVIEW * JANUARY 2000
of business still represent the main- building marathonT.he prize at the
stay of the reinsurance business finish line: a bigger share of the
despite forays into new types of risk global market. June, p. 107.
designed to counter soft prices. Rein- Tapping Into Energy. New tech-
surance Supplement, August, p. S-45. nologies and procedures that use ener-
Reinsurance at a Crossroads. Shrink- gy more efficiently offer a path to
ing margins, stronger competitors and achieving risk-management objectives.
new risk transfer mechanisms chal- Mayp., 8 3.
lenge reinsurers. Reinsurance Supple-
ment,August, p. S-6.
Tailored to Suit. Reinsurers are
developing highly customized finan-
cial products that blend elements of
reinsurance, insurance and capital
markets. Reinsurance Supplement,
August, p. S-38.
Treading Water. Reinsurers at an
industry convention in Stockholm
say 7% returns are not enough to
Commercial Lines
Unshackled
under the direction of Executive Vice keep their companies afloat. Reinsur-
President Catherine J. Weatherford. ance Supplement, August, p.S-19.
December, p. 63 Walled Off From Profits. Stop-loss
Industry Braces Itself for H.R. 10. A carriers responded to HMOs by
look at what financial-services reform severely underpricing coverage for
will mean for insurers.August, p. 65. self-funded health plans. They’re meet-
Offshore Oversight. Bermuda’s ing resistance at every turn along the
new chief insurance regulator is mov- road to recovery. September, p. 96.
ing the department into cyberspace.
October, p. 80.
Giving It a RIMS Shot. As the Risk & A Glimpse of Y2K? The power fail-
Insurance Management Society nears ure that immobilized San Francisco on
Company’s Coming. U.S. reinsurers 50, its annual conference has evolved Dec. 8 may have been a sneak peak at
are broadening their international into the “must go” event in risk man- the types of problems that may herald
operations to capture a bigger share of agement. April, p. 37. the year 2000. April, p.81.
the global reinsurance market, which Making Contact. This year’s RIMS Answering the Call. Call Centers
is expected to more than double to conference, as usual, was a business- help insurers communicate with
$260 billion by 2010. Reinsurance Sup-
plement,August, p. S-33. aE
Determining the Value of X. New AMERICA’S LOW-PRICED
capital reserving rules, demutualiza- OFFICE SUPPLIES
tion and industry consolidation are DIRECT TO YOU GUARANTEED“
invigorating the life reinsurance busi-
Call for details and get our FREE catalog with your first order!
ness. Reinsurance Supplement, August,
p.S-24. Heavy-duty Hanging Laser Labels
Let’s Do Lunch. The Rendez-Vous Folders Pendaflex: * Heavy-duty
* Info pocket. adhesive.
de Septembre in Monte Carlo is still a ¢ Green. « White.
* Box of 25.
place to meet trading partners face to
face, but market conditions are push- 4$1 9522159DM O aS 5160AVY
$2279
ing the actual deal making to later in
the year. Reinsurance Supplement, 12-digit/2-color Printi Wite-Out® Correction Tape
August, p. S-14. Gloves Calculator sp \ Canon * Single line correction film.
Power Play. Special Report * GLOview technology * Corrects instantly.
display. * 2.4 Ips. * Disposable.
excerpt:A . M. Best looks at the trends
shaping the global reinsurance mar- P121DHCNC WOTAPP11BiC
$ 439
ket and the world’s largest players.
November, p. 79.
1-800-333-2223 acco
Reinsurance Assumed. The tradi-
tional personal and commercial lines
BEST’S REVIEW * JANUARY 2000 135
customers on their terms, but it takes and technology vendors are warming RESTS REVIEW
more than the latest equipment to to customer-relationship management
make the centers generate a profit. systems. But they are still answering a
Technology Supplement, May, p. S-28. few basic questions. October, p. 123.
Claims Information at Your Fin- Ready or Not. Special Report
gertips. Technology Supplement, excerpt: Insurers face difficult months
May, p. S-21. ahead getting systems ready for the
Have ECommerce, Will Profit. Spe- Year 2000. April, p. 51.
cial section highlightingA . M. Best Co's Some Assembly Required. Before
11th annual insurance information customers enter through the electron-
management conference,*Fulfilling the ic doorway, make sure the back-office
e-Promise. ” January, p. 85. has been upgraded to respond to this
High Tech Brings Higher Risk. new business venue. June, p. 113.
Advanced technology has made mod- Speeding Up Standards. The pres-
ern equipment more fragile and much sure is on for Acord to streamline the
more expensive to fix. As a result, way insurers and agents share informa-
insurers have major exposures that tion.August, p. 101.
they may not have accurately assessed. Stepping Forward Gingerly. A study
February, p. 81. shows that insurers are resistant to
Insurers’ Y2K Costs Could Top changing the way they do business— Turbulence Ahead. Insurers need
$6.58 Billion. Third-quarter 1998 SEC keeping them from embracing elec- to fall back on their underwriting
filings provided the first detailed tronic commerce. Technology Supple- strengths, as investing in the equity
glimpse of the compliance price tag, ment, September, p. S-15. markets grows riskier. January, p. 67.
including insurers’ fears about future Taking It on the Road. Insurance
costs. January, p. 51. agents and adjusters are packing up
their computers and doing more busi- Bridging the Great Divide. If inte-
IBESTS
Tre MAVIANY ness on the go. July, p. 45. grated benefits plans are to succeed,
Tech Career Edge. Information-tech- insurers must close the chasm
nology specialists have gained new between corporate risk managers and
ths=i pance Msues andA na'y , clout within insurance companies. human resources departments.
Technology Supplement, May, p. S-4. November, p. 39.
o// <4 Top
Tools of the Trade. Technology is Carving Out Profits. The Unicover
The Year's Le fast becoming the key to maintaining a workers’ comp pool projects a $65. 9
competitive edge in an industry that million profit from the business it
relies on customer satisfaction. Tech- wrote for life reinsurers, despite losses
nology Supplement, September, p. S-4. for at least one participant. June, p. 63.
Town Crier for the Digital Econo- Going South. A study finds a general
my. Thornton May believes insurers that decline in the number of attractive
will thrive in the new economy will be markets for workers’ comp writers. The
those who use technology to remain most fertile ground is still the fast-grow-
fixated on their customers. Technology ing Sunbelt states. November, p.91.
Supplement, September, p. S-11. Looking for Growth in All the Right
Places. The greatest demand—and the
Underwriting
highest rates—for workers’ comp can
Linking the Enterprise. Insurers Managed Care: A Liability Blind be found in states with fast-growing
have been slow to embrace enter- Spot. As right-to-sue laws change, yes- construction and manufacturing indus-
prise resource planning software, but terday’s employment incentive is tries. November, p. 90.
insurance-specific packages may final- becoming tomorrow's liability issue. What Goes Around Comes Around.
ly persuade them to scrap their lega- June, p.99. Pool problems point to rough times
cy systems. Technology Supplement, Peeking Through the Electronic ahead for workers’ comp writers. April,
May, p. S-15. Keyhole. Invasion of privacy is a grow- p. 72:
New Year’s Eve Vigil. Computer ing risk as more insurers electronically Workers’ Comp Statistical Studies.
experts worldwide will await the compile information about policyhold- November, p. 50.
stroke of midnight Dec. 31 with bated ers and prospects. August, p. 87. Working Toward a Speedy Recov-
breath. Prudential is among the insurers Thrill Seekers. Amusement park ery. Workers’ compensation insurers
prepared to spring into action at the underwriters study accidents, are helping workers to do their job
first sign of trouble. December, p. 112. acreage, admissions and attitudes. more cautiously and micromanaging
One Size Does Not Fit All. Insurers September, p. 28. injury treatment. July, p. 73.
136 BEST'S REVIEW * JANUARY 2000
Index to 1999
Best’s Review Articles
These articles appeared in the life/health edition.
Assets of the Top 100 Groups Two-Story Fixer-Upper. Insurance
U
Agents Key to Competitive Edge. and Unaffilliated Companies. Octo- companies have cautiously tiptoed
By focusing the company’s resources ber, p. 38. back into the real-estate market. June,
on the producers it values most, man- The Fourth Element. To the tradi- p. 34.
agement stands to reap the greatest tional lineup of _ life/health,
returns. June, p. 79. property/casualty and reinsurance Banks and Insurance
Assessing the Producers. How to products, some insurers have added a New Ties for Insurance Agents.
evaluate new relationships with indepen- new capability: fund management. Even as insurers branch out into non-
dent agents and brokers. March, p. 71. October, p. 24. traditional distribution systems, agents
Catering to the All-Stars. Key- Beyond Catastrophes. Insurers have are finding new opportunities—and
account management can provide a only recently grown comfortable with new limits—with banks. October, p. 92.
competitive edge. September, p. 73. cat bonds, but financiers say that cov- Thrifty Moves. Will consumers want
In Support of the Producer. A staff erage will soon become a minor seg- checking accounts, credit cards and
that handles administrative tasks and ment of the world of securitized insur- home-equity loans from the compa-
most prospecting would free agents to ance products. April, p. 48. nies that insure their homes, their cars
be more productive. June, p. 73. How Much Is That Cat Bond? Life and their lives? Insurers and agents are
Losing That Guerrilla Spirit. Broker- insurers are among the biggest pur- banking on it. July, p. 89.
age firms today make more than half of chasers of cat bonds. April, p. 52. When Banks Met Brokerages. It’s
life insurance sales, but they’re not like- The Rocky (and Rolling) Road to just the beginning of the relation-
ly to increase that share without better ship, but it looks like it will last. Janu-
support from insurers. February, p. 74. ary, p. 71.
BESTS
Pressure to Sell Out. Market forces
and pending legislation threaten to
undermine small independent agents. UBile/Meaeith Eatyon onInsurdance issues tand An he mary 1996 Branching Out. Vermont has three
There may come a time when these new forms of captive insurance com-
Millennium
agents will be forced to join a large panies, which are designed to offer
organization to survive. October, p. 87. businesses more flexibility in their
Referrals Critical to Success. alternative risk-transfer vehicles. Octo-
Prospecting is the life blood of the life berp., 73 .
insurance business. Knowing how to
get leads on new customers is neces-
sary for agents’ survival. August, p. 81. Shifting With the Winds of Change.
Selling the Cross-Sell. Insurers are Faced with the risk of becoming obso-
using rewards, penalties and, most of lete, trade groups for life agents and
all, training to motivate property/casu- financial planners are undergoing dra-
alty agents to sell policies to their cus- matic makeovers. May, p. 83.
tomers. September, p. 33. The Road Less Traveled. Industry
Trickle Down Consolidation. Sure, consolidation has slashed jobs, but
banks and insurers are gobbling up Securitization. A host of performing some people are blazing their own
agencies. But some producers would artist-backed investments—some trails to career advancement. Decem-
rather be acquired by their own. issued and some on the way—demon- ber,p . 28.
March, p. 44. strates the potential for securitizing
intellectual property and the limits
Asset Management they hold for insurers. October, p. 34. Compensating Policyholders.
Advance Disaster Relief. Cat bond Stacking Up Return. Special Report: Transferable rights can be a useful
buyers find that risk management is a Investment Benchmarking Progress element in a mutual-to-stock conver-
maturing field. February, p. 58. Report. January, p. 41. sion. May, p. 62.
BEST'S REVIEW * JANUARY 2000 137
1999 LIFE/HEALTH INDEX
Deliver the Message. Effective com- Critical Competition. Cancer-insur- Projecting Real-World Economic
munications can help clinch the deal ance marketers are hitching their fates Scenarios. Insurers need to expand cur-
in a demutualizatioJnul.y , p. 74. to the continued growth of work-site rent asset-liability projections to incor-
Deserving a Share. The thrift experi- marketing. July, p.81. porate economic risks. February, p. 55.
ence proves that by issuing subscrip- Customer Connections. Direct-
tion rights, insurers can balance their response marketing gets offers into
business objectives with the interests of customers’ hands; the Internet is a 24- A Duty to Advise. Estate trustees
policyholders in a mutual holding com- hour information source. Used togeth- are being held to a higher standard of
pany reorganization. November, p. 45. er, they can provide insurers with an performance for assets under their
Measuring the Mutuals. Comparing effective sales strategy. August, p. 77. direction, including life insurance.
the performance of mutual insurers Dissecting Distribution Costs. December, p. 81.
with their stock brethren is difficult, Determining which expenses are A Questionable Donation. A bill pend-
but it’s a skill insurance analysts are straining the budget is often as diffi- ing in Congress could reduce the effec-
quickly developing. February, p.51. cult as making cutbacks. May, p. 78. tiveness of charitable split-dollar plans
Mostly Mutual. The National Associa- Off the Shelf. Producers are finding as an estate planning tool. June, p. 80.
tion of Mutual Insurance Companies new opportunities for affinity market- After the Death Claim. A new study
believes there are valid alternatives to ing in warehouse clubs and car show- of life insurance beneficiaries tells
mutual ownership—but don’t look for rooms. February, p. 69. insurers how to retain management of
it to change its name quite yet. March, Opening a Corporate Umbrella. assets and gain new business after the
p:55. National Financial has set out to build death of a policyholder. January, p. 61.
Reconstructing Mutuals. Opinion: a network of independent insurance Clients Demand More for Their
Mutual holding companies are a viable and financial-services distributors. May, Money. Planners must provide ser-
business option, especially in light of a p.69. vices increasingly sophisticated con-
recent IRS ruling. March, p.59. Striking a Match. Insurance brokers sumers value. January, p. 71.
Strategic Defense Initiatives. As of all sizes share common challenges Distributing the Minimum. Handling
mutual insurers convert to stock com- as they struggle to grow in a continu- post-death account assets correctly
panies, some believe they need to pro- ing soft market. October, p.55. requires knowing the rules covering
tect themselves from _ hostile The Direct Approach. Before they minimum distribution and taxation.
takeovers. September, p. 58. initiate direct sales, insurers need to March, p.81.
cement relationships with their inde- Estate Plans Can Head Off Taxes.
pendent intermediaries. March, p.67. Careful advance planning helps maxi-
Bridging the Great Divide. If integrat- Tracing the Evolution of Life Distri- mize income-tax benefits from indivi-
ed benefits plans are to succeed, insur- bution. Ahead are new approaches to dual retirement accounts and qualified
ers must close the chasm that exists distribution, products and market seg- retirement plans. June, p. 83.
between corporate risk managers and ments. March, p. 74.
human resources departments. Novem- Valuing the Channel. Tomorrow's
ber, p. 71. successful companies will develop A Focus on Women’s Health. Man-
Integrating Disability. In the midst products that can take advantage of aged-care plans are turning their atten-
of a price war, group disability writers how they are sold. May, p. 82. tion to health issues—both physical
are testing their abilities to integrate and emotional—that affect women.
disability coverage with health insur- August, p. 32.
ance and workers’ compensation. Sep- Accounting for Relationships. A Prescription for Crisis. Health
tember, p. 82. New FASB rules would redefine con- insurers want medicine to be available
Protecting Retirement. A need trol and ban pooling of interests. in case of a Y2K crisis, but they want
exists for a product that continues June, p. 67. to prevent hoarding and overuse. June,
defined contributions to retirement Capital Markets: The Ultimate Reg- p.41.
plans in the event of a long-term dis- ulators. Management can head off dis- Driven to the Top. With discipline,
ability. March, p.63. aster by taking its cues from the mar- a sense of humor and endless energy,
ket instead of waiting until regulators Health Net CEO Cora Tellez continues
step in. June, p.71. to leave her mark on the laboratory of
Channel Surfing. Life insurers face Defining Derivatives. Are derivatives managed care. April, p. 32.
increased pressure to manage distribu- embedded in insurance and annuity Getting Health Plans Off the Critical
tion more effectively. February, p. 44. contracts? That depends on your defini- List. Managed care’s societal role will
Considering the Distribution Alter- tion of derivative.April, p. 26. depend on plans’ ability to restrain
native. As more insurers turn to distri- Managing the Volatility Link. Better costs, p.65.
bution companies, doing it right financial modeling may hold the key Health Care Through Cyberspace.
means focusing on more than how to to better management of insurance Telemedicine offers health insurers
account for costs. November, p. 81. risk. February, p. 63. the promise of cost savings, but only if
138 BEST’S REVIEW * JANUARY 2000