A View from the Press Box

The world of insurance journalism lost one of its most prominent, talented and dedicated players with the retirement last week of Steve Piontek, editor of NU’s life and health insurance edition. (more…)

For two years now, I’ve been telling anyone who’ll listen that the industry’s lousy reputation is, for the most part, undeserved, and that carriers must take ownership of the problem and start touting all the good they do for society.  Then along came Bob Hartwig’s recent speech at the 50th anniversary celebration of the Insurance Institute for Highway Safety, which pointed out that insurers don’t get enough credit for all the lives they save and injuries they help people avoid.

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The Chubb Group of Insurance Companies and FM Global were the big winners in the first “Risk Manager Choice Awards,” based on a survey of 411 corporate insurance buyers run by the Flaspöhler Research Group, in partnership with National Underwriter. For a full report, go to http://bit.ly/392FyL.

Rating agencies took a well-deserved beating last week when they were called on the carpet by state regulators wary of trusting their assessments going forward.

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Will Congress pass a health care reform bill before the year is out? That’s the question we’re posing to readers on NU’s online poll this week. Cast your vote at www.property-casualty.com.

What are the most interesting, challenging and unusual exposures you’ve ever come across as an underwriter, agent or broker? Contact NU’s Phil Gusman today at pgusman@nuco.com to share your war stories for one of our most popular editions of the year–published Sept. 7. (more…)

Critics of single-payer health insurance systems insist we will all end up like those poor souls in Canada, France, Great Britain, etc.–waiting endlessly for critical tests or procedures, being abandoned if we’re too old and sick for the government to care, and other warnings about the perils of rationing. If this is true, answer me this: Given that these are all vital democracies, why haven’t the voters revolted and put into power politicians who will restore a superior private health insurance system? Certainly the politicians here are scared out of their wits making any changes to our current system–which rations care by leaving tens of millions uninsured or underinsured. Don’t those same political dynamics come into play in other countries, or is this just a red herring–a scare tactic meant to discourage formation of a public plan option? I eargerly await your views.

Watching President Barack Obama’s press conference on health care reform the other night, I was not surprised that little was said about the mandates being proposed in Congress–requiring employers to offer coverage or pay a penalty, and requiring that everyone buy coverage. That was no doubt because the word “mandates” scares many and infuriates some, and could end up sinking the whole initiative–although I don’t understand what everyone is so worked up about. (more…)

One of the first  health care reform initiatives launched by President Barack Obama was a call to set up a nationwide, electronic medical records system. Given the insurance industry’s heavy involvement in claims documentation, and ACORD’s track record in bringing the property and casualty sector up to speed when it comes to standardized forms, wouldn’t it make sense for ACORD to take a leading role here as well? (more…)

The National Weather Service finally got around to naming a storm system after me–Hurricane Sam, which would be the 18th such event of 2009. Let’s hope we don’t get that far down the list this year, because if we do, that means we’re having a terrible catastrophe season, huge insured losses and the end of the soft market–at least for property risks. (more…)