A skills test for workers' comp

Article Abstract:

Successful management of workers' compensation programs requires discretion in training frontline personnel. It also requires the commitment to establish a performance-based incentive program. To start, insurers should recognize that different lines of business have different needs. Large, national accounts, for instance, require highly skilled loss-control engineering specialists. To better assess risk factors, it is also important that claims personnel be trained to work closely with clients in the implementation of loss control programs.

Human resource management

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Starting over in workers' comp

Article Abstract:

Property and casualty insurers must refocus market strategies and improve management in all areas of business if they want to be successful in the workers' compensation market. Some of the improvements should include: developing comp-focused organizations, improving market segmentation and measuring performance. In addition, the workers' compensation business in the past forty years has averaged a combined ratio 10 points better than the property/casualty industry, but forecasts of this market are difficult due to recent fluctuations.

Marketing

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Avoiding risk

Article Abstract:

Property and casualty insurance companies are lowering their risk in hurricane-exposed states. Hurricanes Iniki and Andrew caused $18 billion of insured damages, which led to a weakening of the finances of several property and casualty insurers. However, eliminating coverage could leave 500,000 homeowners in Florida and 80,000 homeowners in Hawaii without an opportunity to insure their properties. Legislation at the state and federal level is attempting to deal with this lack of insurance coverage.

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