By Dax Craig, President and CEO, Valen Analytics There appears to be violent agreement that 2014 is the year of advanced technology, data and analytics in insurance. Of course, these kinds of prognostications don’t sneak up on anyone. A convergence of growing organizational eagerness and sophisticated tools is allowing momentum to build for the next […]
WC Exposure; Digital Future; New Faces in High Places Liberty Mutual appears to be slowing down its workers’ compensation business as it announced the sale of Summit Holding and related companies to American Financial Group Inc. Liberty Mutual, according to SNL, had already been ceding market share in 2013, with Travelers Cos. Inc. writing more […]
The Joy of Ownership (The following story is total fiction – except for the parts that aren’t) Congratulations! You just won tens of millions in the lottery, and after 20+ years in the [claims/underwriting/ actuarial/program/brokerage/other – pick one] side of the insurance business, you can now retire from active participation in the business. Your good […]
Love Will Keep Us Together, but Obamacare May Not Those of us who were around in the 70’s most likely remember the song, “Love Will Keep Us Together” from the duo of “The Captain and Tennille”. Well, after 39 years of marriage, their ship is sailing and they are both not aboard. “Why?” you may […]
IIABNY: New York Health Insurance Exchange Offers Consumers Fewer Options, Less Comprehensive Coverage Association director Jack Smith tells Senators exchange plans ‘not a viable option’ for customers New York’s health insurance exchange offers consumers and business owners fewer plan options and narrower choices of health care providers, IIABNY told state senators. Jack Smith, an IIABNY […]
NY State Bond Issue to Cover WC Trust Claims New York State issued $370 million in bonds to assist businesses in failed group self-insured trusts to fulfill their obligations to their injured workers. The bonding is made possible by the 2013 Business Relief Act, which authorizes the Workers’ Compensation Board to use the proceeds to […]
New York State Insurance Fund Elects Eric Madoff By Katlin Nash The New York State Insurance Fund Board of Commissioners has elected Eric Madoff as its Executive Director. Mr. Madoff joins the Fund from the New York State Department of Financial Services (DFS), where he served as Chief of Staff from 2011 to 2013 where […]
Kelly Norris Named Executive Director for Northeastern PIA Kelly K. Norris, CAE, has been named executive director of the Glenmont, N.Y.-based Professional Insurance Agents associations of Connecticut, New Hampshire New Jersey, and New York State, and their affiliated organizations. She succeeds Diane Fowler who retired January 1st and is latest in a long line of […]
Resolutions We all make resolutions this time of year … some of us with more success than others. In fact, by the time this article reaches your desk, many resolutions will have been broken already. I, personally, have resolved to lose five pounds and I’ve already broken my resolution to exercise more. In the big […]
Cahill Appointed to the NCOIL Executive Committee Albany, NY—Assemblyman Kevin Cahill (DUlster, Dutchess) has been selected to serve on the Executive Committee for the National Conference of Insurance Legislators (NCOIL). NCOIL is a non-profit agency founded in 1969 to promote sound insurance public policy, which is centered around model legislation. It offers state legislators a […]
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