BestWeek Explores Why Life-Settlement Market Is Growing.OLDWICK, N.J. -- The Feb. 21 issue of BestWeek explores why the controversial life-settlement market, now a $6 billion secondary market for life insurance policies, is growing. "It turns a lot of the financial assumptions about life insurance on their head," a Philadelphia attorney who represents life companies, told BestWeek. BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents, brokers and others who are affiliated with the industry. Also in this issue is an exclusive report from A.M. Best Co.'s Review/Preview 2005 conference in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . Readers hear from General Re Corp.'s chairman and chief executive officer Joseph Brandon, about what kind of future disasters could knock the industry on its ear. In addition, Prudential Financial's chairman and chief executive officer talks about two areas of promise for his life company--domestic retirement and the international market. Readers also get a first-hand seat at a roundtable discussion about how better information may be buffering pricing cycles. Adding perspective to this property/casualty overview are the results of a Review/Preview survey. Among the findings: 76% said the scrutiny of contingent commissions Contingent commissions is a term used in the American insurance industry for any kind of broker's commission which is contingent upon some event occurring (instead of a commission paid on the sale itself). In the UK this form of payment is known as Overriders. will lead to greater broker disclosure, and 53% think their company definitely will meet Sarbanes-Oxley mandates. London Correspondent Bob O'Connor Robert E. O'Connor, Jr. (December 9 1944 - September 1 2006) was the Mayor of Pittsburgh, Pennsylvania from January 3 2006 until his death. Personal life and early career previews the annual-results ritual in the United Kingdom. Despite the devastating dev·as·tate tr.v. dev·as·tat·ed, dev·as·tat·ing, dev·as·tates 1. To lay waste; destroy. 2. To overwhelm; confound; stun: was devastated by the rude remark. tsunami in December, most companies in the nonlife sector will be looking back at the year with satisfaction, as the disasters appear to have stabilized premiums, which had been heading south. Also featured is a thought-provoking look at whether medical malpractice Improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional. insurers' underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and rate-setting practices might bear as much blame for skyrocketing premiums as does lack of tort reform. To subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; BestWeek and read these articles and more, please call A.M. Best customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com. We also offer a PDF (Portable Document Format) The de facto standard for document publishing from Adobe. On the Web, there are countless brochures, data sheets, white papers and technical manuals in the PDF format. version of BestWeek with the same look and graphics as the original format. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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