Index to 2003 Best's Review articles.Accounting Uncovering Value. By using embedded value Embedded Value A common valuation measure used outside North America particularly in the insurance industry. It is calculated by adding the adjusted net asset value and the present value of future profits of a firm. reporting, insurers can get a clearer picture of where they are making--and losing--profits. October, p. 61. * Embedded Value: Key Terms. October, p. 62. * Embedded Value Added vs. U.S. GAAP GAAP See: Generally Accepted Accounting Principles GAAP See generally accepted accounting principles (GAAP). Net Income. October, p. 64. Agent/Broker Issues The Bumpy bump·y adj. bump·i·er, bump·i·est 1. Covered with or full of bumps: a bumpy country road. 2. Marked by bumps and jolts; rough: a bumpy flight. Route to Independence. When insurers divest To deprive or take away. Divest is usually used in reference to the relinquishment of authority, power, property, or title. If, for example, an individual is disinherited, he or she is divested of the right to inherit money. of their captive agents, custody battles Noun 1. custody battle - litigation to settle custody of the children of a divorced couple judicial proceeding, litigation - a legal proceeding in a court; a judicial contest to determine and enforce legal rights and lawsuits can follow. January, p. 33. Growing Pains grow·ing pains pl.n. Pains in the limbs and joints of children or adolescents, frequently occurring at night and often attributed to rapid growth but arising from various unrelated causes. . The number of large agencies is increasing, making changes in management practices more important than ever. April, p. 58. Playing Hard Ball. Independent agents are taking advantage of the hard market to grow their businesses through referrals, retentions, focused marketing and some in-the-field underwriting. May, p. 29. * In Hard Market, Agents Need to Be Advocates. May, p. 30. Philosophy Meets Function. Agency principals must translate operating philosophy into job design and workflow processes. May, p. 58. Left Holding the Bag. Agents and brokers who sell unlicensed health plans to self-insured employers face the prospect of being liable for unpaid medical claims, losing their state insurance license and serving time in prison. May, p. 88. * Regulators Attack Growing Health-Care Fraud. May, p. 90. Changing Roles. Cross-selling agents who parlay An open programming interface (API) to a service provider's network (the network operator), developed by the Parlay Group (www.parlay.org). By enabling the customer's application to talk directly to the network, it allows the end user to have greater access to network information as well property/casualty customers into buyers of life insurance and investment products find they are fortified fortified (fôrt  ´fīd),adj containing additives more potent than the principal ingredient. against lower-cost competitors. June, p. 38. * MetLife P/C Companies Launch Cross-Selling Effort. June, p. 39. Real-Time to the Rescue. The evolution of real-time SEMCI SEMCI Single Entry Multiple Company Interface (insurance) is helping to improve agents' work flow. June, p. 106. Making the Deals. Amidst the merger and acquisition frenzy, many agencies believe the value of their businesses may never be higher. July, p. 73. Like the Real Thing. Insurers are testing the mettle met·tle n. 1. Courage and fortitude; spirit: troops who showed their mettle in combat. 2. Inherent quality of character and temperament. of prospective agents and producers by putting them through evaluation simulations. September, p. 79. A Turn for the Better. Insurers rely on brokers to sell their consumer-driven health-care plans, but brokers must understand the plans to succeed in the growing market. November, p. 92. Cream of the Crop. Caliper's surveys reveal most insurance agents lack sales expertise and for agencies to succeed they must begin hiring and retaining potential superstars. December, p. 68. Leading Both Ways. A well-written and well-explained contingency contract benefits agencies and insurers. December, p. 70. Alternative Markets Quick Cover. Segregated-cell captives offer almost instant insurance solutions combined with lower costs, but experts say their legal structure hasn't truly been tested yet. February, p. 40. * Different Rules in Different Homes. February, p. 42. The Captive Solution. There are real advantages for both lenders and mortgage insurers that choose to be involved in captives. March, p. 62. Putting Up a Good Front. Insurers, captives and buyers must fulfill specific responsibilities if fronting arrangements are to survive. October, p. 71. * Keys to Survival. October, p. 74. Annuities Taking a Punch. Insurers never anticipated a bear market so long and deep that it would ravage their variable-products businesses--and cause them to rethink how they conduct them. March, p. 65. The Sunny Side of Life. Anemic anemic pertaining to anemia. interest rates and an uncertain stock market feed the growth of equity index annuities. April, p. 81. Annuities Can Be Long-Term Solution. Experts and study show, though currently viewed as a poor investment choice, annuities can protect retirees from the bite of a bear market. June, p. 94. Invading Annuities' Turf. The huge and powerful mutual-fund industry is increasingly moving into an annuity stronghold--the 403(b) market. November, p. 87. Opened Gates. Hartford's annuity business in Japan booms. December, p. 88. Asset Management Letting Go. Insurers increasingly are turning away from direct ownership of real estate. March, p. 26. * A Lesson Learned. March, p. 28. Hired Help Noun 1. hired help - employee hired for domestic or farm work (often used in the singular to refer to several employees collectively) employee - a worker who is hired to perform a job kitchen help - help hired to work in the kitchen . Insurers are expected to embrace third-party asset management more fully. March, p. 33. Taking Cover. Like most investors, insurers had a tough time during the bear market and struggle to find good investments now. October, p. 38. * Insurance Mixology mix·ol·o·gy n. The study or skill of preparing mixed drinks. mix·ol  o·gist n. : Matching Assets to Liabilities. October, p. 39. * MassMutual Credits Its Discipline of Value Investing Value Investing The strategy of selecting stocks that trade for less than their intrinsic value. Value investors actively seek stocks of companies with sound financial statements that they believe the market has undervalued. . October, p. 40. Auto Gearing Up. Insurers are using driver safety programs, sharply focused advertising and the Internet to court teen drivers. October, p. 20. Room for Recovery. By understanding how vehicle characteristics impact their auto salvage rate of recovery, insurers can reduce claims costs. October, p. 67. Careers People to Watch in 2003. The insurance industry is more than companies and numbers. Here are a few of the people likely to affect the course of the industry in the year ahead as well as comments from four of them on turning points that helped get them to where they are. January, p. 30. * Keating to Tackle ACLI ACLI American Council of Life Insurers ACLI Associazioni Cristiane Lavoratori Italiani (Italy) ACLI American Council of Life Insurance ACLI Ada Command Language Interpretation Initiatives. January, p. 30. * Facing New Jersey's Auto Problems. January, p. 31. * Prudential's Banta: Learning Energizes. January, p. 32. * Safeco's LaRocco Keeps His Eye on the Prize. January, p. 32. Luring Talent ... and Keeping Ir. Top performers, like other employees with job-achievement goals, want to know what's expected of them and how they are doing with their work. November, p. 82. Claims Getting to the Root of the Problem. Travelers' state-of-the-art high-tech laboratory enables experts to find the causes of major losses and fraud. January, p. 41. * Assessing the Air in the Workplace. January, p. 42. * Work in Progress. January, p. 44. Claims Busters. Plymouth Rock's mobile claims adjusters mix technology with a personal touch to keep costs down while making customers happy. May, p. 39. * Adjusting Claims Adjusting. May, p. 42. * Talent, Technology Produce Good Claims Results. May, p. 44. Keeping the Faith. As more mold complaints have surfaced, bad-faith claims have been increasing as well. July, p. 60. * Measuring Moisture. July, p. 62. Working Both Sides of the House. A successful claims management organization will focus on efficiency and consistency for setting routine claims and on leveraging expertise for claims that are more complex. July, p. 66. The Secret of Interlocking interlocking /in·ter·lock·ing/ (-lok´ing) closely joined, as by hooks or dovetails; locking into one another. interlocking Obstetrics A rare complication of vaginal delivery of twins; the 1st Forces. Dynamic modeling can help insurers predict losses affected by multiple factors over time. December, p. 42. Commercial Liability Food Fright. Potentially faced with a high tab for fast-food lawsuits, insurers crave information about current litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . August, p. 24. * My Big Fat Lawsuit. August, p. 26. * Unsafe in Any Amount? August, p. 31. * Behold the Power of Cheese--and Chocolate and Meat. August, p. 32. * The Fat of the Land. August, p. 34. Company Profile Shaken and Stirred. Energetic and energizing energizing, adj giving energy to; revitalizing; rejuvenating. Joe Plumeri has spiked revenue growth and retired debt since being installed as head of Willis Group Holdings in late 2000. June, p. 64. * Big Changes Expected from United Sales Operations. June, p. 69. * Learning by Example. June, p. 69. * Executive Stakes His Retirement on Willis Stock. June, p. 70. * Cost Controller. June, p. 72. Engineering Success. FM Global has grown to become one of the largest commercial property writers in the world by relying on engineers and loss prevention instead of actuaries. As a mutual company, FM Global and its policyholders/owners take pride in having highly protected risks. August, p. 68. * Fighting Fire With Fire. August, p. 72. * Pioneers in Risk Management. August, p. 74. Becoming a Contender. New leadership, tighter focus, financial restructuring and stronger underwriting have turned Safeco around and prepared it to compete with the major players. October, p. 46. * A Centered, Simple Life. October, p. 50. * Widening the Circle. October, p. 52. * Building a Top Team to Lead the Charge. October, p. 54. * Moving Marketing from Average to World Class. October, p. 57. Taking the Next Step. Safeco wants to concentrate on selling standardized property/casualty products November, p. 47. Corporate Changes Exit Lines. Dean R. O'Hare recently stepped down as Chubb's chairman, leaving behind a legacy of global expansion and underwriting profits Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. . January, p. 46. Corporate Changes. The number of mergers increased in the property/casualty industry in 2002, and state involvement continues to grow. June, p. 79. Corporate Changes. The consolidation of the life/health industry continued in 2002. June, p. 100. Directors and Officers D&O Recovery Linked to Realistic Rate Base. Reeling from the effects of corporate scandals, D&O insurers are tying rates to true risk, while hoping Sarbanes-Oxley will prevent future pitfalls. June, p. 76. A Private Matter. Private business owners often overlook the need for directors and officers coverage. August, p.91. The Sarbanes-Oxley Solution. New corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. standards redefine directors and officers liability. September, p. 45. * How to Limit the Exposure of Directors, Officers and Attorneys. September, p. 46. Disability Coverage Moving Target. A more mobile work force and a drop in employer-provided benefits could enhance the market for individual disability-income insurance. February, p. 69. Mining a Rich Vein. Low market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" offers insurers with conservative products and strict underwriting a chance for profit in individual disability-income insurance. March, p. 78. 10 Ways to Get Into the Game. Individual disability-income products come in a variety of shapes and sizes, all of which can be profitable for insurers.April, p. 82. Distribution Performance Review. A distribution channel is an asset that may grow in value ff its performance is continuously evaluated. June, p. 42. Your More. Insurers must weigh the potential depth and breadth of coverage before they allocate distribution resources. June, p. 47. Eye on the Prize. Insurers can save money and boost revenue by improving distribution-channel management with the right strategy and efficient operations. November, p. 105. Estate Planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the Planning Ahead. While controversy and uncertainty about the estate tax rage, financial advisers can help small-business owners pass their assets on intact. October, p. 87. Fraud Dealing in Fraud. Professional criminals and petty thieves are draining cash from the insurance industry, and more companies are getting serious about plugging the hole. November, p. 24. * Staggering Stats: Adding Up the Cost of Fraud. November, p. 26. * Asking the Right Questions. November, p. 28. * On the Road With a Fraud Investigator. November, p. 30. * Unleashing Technology as a Fraud Buster. November, p. 32. * The Moving Target. November, p. 34. Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation Rites of Passage. Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. are often viewed as the gateway to larger markets in Asia, but insurers have to overcome problems in those countries first. February, p. 18. * Australia and New Zealand Face Regulatory Challenges. February, p. 20. Going for the Gold. China appears poised to lead South and East Asia's push as the fastest-growing insurance market in the world. February, p. 24. Health Opting Out. As more insurers leave the Medicare+Choice marketplace because of low reimbursement rates, a new option for the federal program will be pilot tested. January, p. 58. Doing the Splits. Health insurers can improve profitability by dividing marketing, sales and service dollars among the most productive relationships. March, p. 80. A New Generation of Care. The growth of consumer-directed health plans may be the answer to picking up managed care's unfinished agenda. March, p. 84. Discovery Channel. Health insurers must decide whether to cover the steady stream of federally approved high-tech medical devices. April, p. 64. * Reducing Objections. April, p. 66. Health Emergency. Universal health care could be crafted to save the nation money and give insurers a major role. May, p. 66. * Projected National Health Expenditures. May, p. 67. * The Uninsured in 2000. May, p. 67. Under Treatment. As oncologists struggle with the traditional process of charging patients for chemotherapy medication, insurers are offering their own cure for this situation. May, p. 74. * States Call for Price Check. May, p. 76. * It Begins With Medicare. May, p. 78. Taking Control. New kinds of health plans right medical inflation by blending economic inventivas with consumer choice.August, p. 96. To a Future of Good Health. Health plans are learning that predictive modeling, a mainstay of property/casualty insurance, can help them set more accurate rates and reduce costs. September, p. 94. * Early Intervention ear·ly intervention n. Abbr. EI A process of assessment and therapy provided to children, especially those younger than age 6, to facilitate normal cognitive and emotional development and to prevent developmental disability or delay. Reaps Good Results for Highmark. September, p. 100. A Price to Pay. Health plans are discovering accreditations bring the added responsibility of clinical outcomes and the possibility of medical malpractice Improper, unskilled, or negligent treatment of a patient by a physician, dentist, nurse, pharmacist, or other health care professional. claims. September, p. 105. Staying Fit. By offering health and wellness programs to consumers, insurers are developing healthier members while reducing costs. November, p. 98. Striking a Balance. Insurers believe passage of a new federal mental-health parity bill will have limited impact on the industry. December, p. 84. * A Closer Look at Mental Illness. December, p. 85. Homeowners A Burning Question. As the suburbs sprawl even farther, homeowners insurers are adding new factors into their underwriting consideration. September, p. 64. * Making the Grade. September, p. 65. * When Being Close Counts. September, p. 66. * 'Do-It-Yourself' Evaluations. September, p. 68. Insuring to Value. Homeowners have traditionally insured their properties at less than the replacement cost. Newer valuation methods help insurers bring more policies to full coverage. November, p. 59. Getting to Know You. As homeowners writers sea personal property claims rise, they're taking a closer look at insureds' personal characteristics. November, p. 68. Index Index to 2002 Best's Review Articles. January, p. 83. Industry Strategies Managing Between a Rock and a Hard Market. The market will make 2003 an attractive time for underwriting, but the investment environment poses real challenges for insurance companies, industry leaders say. Greater financial transparency, rising health-care costs and the ongoing need for tort reform are also part of the mixed forecast. January, p. 18. 2002: Insurers Deal With a New Crisis, Old Issues. Corporate misdeeds bit the directors and officers line and affected insurers' investments, but problems such as mold, rising health-care costs and a troubled medical-malpractice line continua con·tin·u·a n. A plural of continuum. to plague the industry. January, p. 22. * Equity Markets Hit Industry Hard. January, p. 22. * D & O: Terms Tighten; Premiums Rise. January, p. 23. * Medical-Liability Rates Increase. January, p. 24. * Terrorism Cover Challenges Remain. January, p. 24. * Mold Still Issue for Insurers. January, p. 25. * State Farm Retrenches. January, p. 26. * Scoring Debate Leads to Legislation. January, p. 26. * Workers' Comp Market in Turmoil. January, p. 27. * Health-Care Inflation Grows. January, p. 28. * Bermuda Insurers Hold Their Own. January, p. 29. The Write Impression. Sloppy murky writing can cost insurers millions in lost productivity and expose them to bad-faith lawsuits.January, p. 39. A New Way of Thinking. Online technology is not just for administrative tasks anymore. Insurers are now beginning to use it for more complicated parts of their businesses. February, p. 29. * Unfathomable Risks Drive Insurers to Third Parties. February, p. 30. * ERC (database) ERC - An extended entity-relationship model. : Digitizing "Digitizer" redirects here. For the computer device, see Digitizing tablet. For the digitizer in Tablet PC's, see Tablet PC. Digitizing or digitization the Claims Process Worldwide. February, p. 32. Faces of the Industry. A new multimedia gallery of the Insurance Hall of Fame The Insurance Hall of Fame is an international list of business leaders in the insurance field. It was founded in 1957 and now has more than 100 inductees; it is kept by the University of Alabama in the United States. honors insurance leaders from around the world. May, p. 35. * Where It All Began. May, p. 36. Epidemic Proportions. Insurers are modeling the potential liability posed by infectious diseases infectious diseases: see communicable diseases. .July, p. 38. * New Infection Prompts New Risk Management Measures. July, p. 40. Everything Counts. Insurers may find that a holistic, collaborative approach to business helps ensure that all parts are working in harmony.July, p. 45. Process Protection. Armed with a boost from federal courts, insurers are increasingly turning to patents to prevent competitors from copying proprietary business practices. August, p. 65. Leading Writers Best of Both Worlds. Although many insurers are divesting lines of business to focus on core products, a few multi-line insurers are sticking to their course and coming out ahead. July, p. 20. Best of Both Worlds: Making Contacts. Nationwide's varied mix of products leads to greater customer satisfaction and retention.July, p. 21. Best of Both Worlds: Divide and Conquer. American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. touts its strength in diversity.July, p. 24. Best of Both Worlds: Triple Punch. A broad spectrum of products, strong brand and disciplined management team contribute to Hartford Financial's success.July, p. 28. Admitted Assets, Top Life Writers--2002. July, p. 30. Net Premiums Written, Top Property/Casualty Writers--2002. July, p.34. Property/Casualty, Top Writers by Line--2002. August, p. 79. Property/Casualty Direct Premiums Written by Line--2002. August, p. 78. Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Assumed and Ceded, Top Writers by Line--2002. August, p. 48. Ordinary Life Average Polio polio: see poliomyelitis. ] Size and Lapse Ratios, Top Writers--2002. September, p. 86. Life Insurance in Force and Issued, Top Writers by Line--2002. September, p. 88. Auto, Top Writers by Line and by State--2002. October, p. 24. Asset Distribution, Top Property/Casualty Writers--2002. October, p.42. Asset Distribution, Top Life Writers--2002. October, p. 44. Homeowners Multiple Peril, Top Writers by Line and by State--2002. November, p. 64. Ocean Marine, Top Writers--2002. December, p. 59. Inland Marine, Top Writers--2002. December, p. 60. Fire & Allied, Top Writers--2002. December, p. 60. Ocean Marine, Top Writers by State--2002. December, p. 62. Inland Marine, Top Writers by State--2002. December, p. 64. Fire & Allied Lines, Top Writers by State--2002. December, p. 66. Life Resuscitating Credit Life. Banks' new debt-protection products have cut into the credit insurance market, but credit insurers are finding ways to cope.January, p. 62. Suit Yourself. Interest in life insurance is reviving, but insurers need to educate consumers so that they can determine suitability of products for themselves. February, p. 78. The Latest Model. Life insurers can now reap the benefits of catastrophe modeling
Purchasing Power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. . Life-settlement providers must overcome problems in underwriting, financing, marketing and perseverance to tap into a potentially huge market.August, p. 106. * Life Settlements vs. Viaticals. August, p. 108. Return Policy. Sales of variable universal life insurance The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. have been down for more than two years. A healthier stock market and new product guarantees may mean a rebound. September, p. 83. Sale Keeping. Advance planning can protect the cash surrender values The amount of money that an insurance company pays the insured upon cancellation of a life insurance policy before death and which is a specific figure assigned to the policy at that particular time, reduced by a charge for administrative expenses. of life insurance policies when personal bankruptcy Personal bankruptcy is a procedure which, in certain jurisdictions, allows an individual to declare bankruptcy. In other jurisdictions, bankruptcies are reserved for corporations. occurs. October, p. 93. Missing the Forest for the Trees Forest for the Trees was the brainchild of Carl Stephenson, an eclectic producer known for his work with Beck. Difficult to classify, Forest for the Trees is probably best described as experimental psychedelic trip-hop. . Sarbanes-Oxley focuses on the historical reporting process, when what's really needed is a hard look at key business and operating processes. October, p. 101. Life/Health Allure of Voluntary Benefits. Despite the risks, the insurance industry recognizes there is much opportunity in offering benefits at the workplace that employees can choose. February, p. 75. Adding Value. By offering free enhancements to work-site products, insurers can see sales grow. June, p. 97. Advantages of Partnership. Stop-loss carriers and third-party administrators can add substantial value to employer clients when they work together.June, p. 102. Concentration of Risk. Direct writers of group insurance could gain competitive advantages from better understanding the risks of disasters where they can cause the most harm. September, p. 112. Litigation Lifting the Litigation. As more companies go bankrupt, reform of the asbestos compensation system is urgently needed.June, p. 85. A Hole in the Wall. Soaring construction-defect litigation is shaking the foundation of the commercial general liability market-and residential contractors are getting hammered.July, p. 51. * Gravity Pulls at N.Y. Construction Liability Market. July, p. 54. * Small Contractors Carry Big Burden. July, p. 56. Limiting the Punishment. After years of being the focus of proposed reforms, the court-imposed limit on punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. is significant for insurers.August, p. 94. Dust Storm. A sudden rise in silicosis claims is reminiscent of asbestos litigation, but this time insurers are blocking the turbulence. November, p. 37. * Facing the Past. November, p. 40. Hired Guns Hired Guns is a computer role-playing game produced by DMA Design (distributed by Psygnosis) for the Amiga in 1993. The game is set in the year 2712, in which the player controls four mercenaries selected from a pool of twelve. . Insurance professionals can use their experience to help resolve disputes--and earn extra cash. December, p. 46. * Profile of an Expert Witness. December, p. 47. Long-Term Care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. The Right Sale. Insurers address suitability concerns as sales of long-term-care products grow. April, p. 70. Spreading the Word. Agents who share information about long-term-care insurance with prospects and their families create benefits for everyone involved.April, p. 74. Loss Management Changing the Answers. The gap between the risk we are taking and the risk we can afford to take may have grown.January, p. 57. A Changing Role. Chief financial officers must do more with less as they work to restore investor trust.April, p. 61. Managing the Invisible. We shouldn't let accountants tell us what is valuable and what is not.June, p. 87. The Co-Sourcing Solution. The changing environment makes it a top priority to optimize the activities of actuaries. October, p. 85. Driving on the Raceway. With industry changes, management should revisit re·vis·it tr.v. re·vis·it·ed, re·vis·it·ing, re·vis·its To visit again. n. A second or repeated visit. re and challenge the information it needs for running the business. December, p. 77. Managed Care Managed Choice. Health insurers are responding to consumer demand for more options with tiered pricing for doctors and hospitals patterned after pharmaceutical pricing plans. March, p. 71. * Cost, Demand for Choice Drive Innovation. March, p. 75. Management Restoring Confidence. Over time, consistent appropriate behavior will slowly restore investor trust in financial institutions. January, p. 68. No Surprises. Insurers should expand scenario testing Scenario testing is a software testing activity that uses scenario tests, or simply scenarios, which are based on a hypothetical story to help a person think through a complex problem or system. to help them understand and manage the expected volatility of future earnings. January, p. 72. What's the Score? By using a distribution profit & loss statement, companies can ensure their management teams are using the same rules to keep score. September, p. 108. European Response. The European Union's corporate governance standards will impact insurers as investors and as providers of coverage to corporations. December, p. 36. * Action Plan Timeline. December, p. 37. * The Future of Insurance Regulation. December, p. 38. Market Competition Ready or Not. Although the post-Sept. 11 market appears to give weaker insurers a respite, they need to make action plans to fight for their survival. February, p. 54. Little Fish. Buffeted by larger forces but anchored in their markets, small companies hold onto their place in a changing industry. June, p. 20. Little Fish: Serving the Underserved. Tuscarora-Wayne's small size allows for tighter coordination and a more personal touch. June, p. 24. Little Fish: Finding Value in Size. Fueled by an underwriting-profit culture and focused on niche markets such as motorcycle coverage, Pacific Specialty Insurance Co. competes with industry leaders.June, p. 26. Little Fish: Honor, Duty and Life Insurance. 5 Star Life Insurance Co. grows profitably by sticking to its mission of providing life insurance to the military and by finding niches elsewhere. June, p. 31. * AFBA AFBA Armed Forces Benefit Association AfBA Affiliated Business Arrangements AFBA Allied First Bancorp, Inc. AfBA African Biographical Archive AFBA Appalachian Fiddle & Bluegrass Association (Pennsylvania) President Sets Tone of Stewardship, Fidelity. June, p. 32. Little Fish: A Clear Vision. USPlate Glass Insurance Co. covers windows for commercial buildings with speedy, personal service--meaning curtains for its mostly uninterested competition.June, p. 35. Market Conduct Vigilance Rewarded. With better technology and more attention to suitability issues, the writers of life insurance and annuities appear less likely to face new class-action lawsuits. February, p. 63. * Variable Annuity Variable Annuity An insurance contract in which, at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio. Class-Action Fire Still Burns. February, p. 66. Membership Squeeze. The Insurance Marketplace Standards Association still has the strong support of major life insurers, but its second round of membership renewals isn't as robust as the first.August, p. 101. Marketing The Mighty Duck. Aflac is boosting sales and name recognition with its ubiquitous duck, and now the marketing icon is also reaching audiences in Japan. May, p. 82. * Ducks in a Row. May, p. 83. * Growth of the Japanese Market. May, p. 84. Medical Malpractice Line Drive. Advocates of medical-liability reform legislation will take on federal and state lawmakers again. February, p. 36. Critical Condition. The nursing shortage is sparking new interest in nurses' liability insurance and maybe higher prices.August, p. 82. * Calling All Nurses: Tackling the Shortage. August, p. 84. Meetings and Conventions Going Places. While some insurance industry groups will head off to the usual destinations of Florida, Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , others will enjoy more exotic trips to Hawaii,Australia and Alaska. December, p. 50. Mortality Life-Altering Experience. The new mortality table for life products gives insurers the opportunity to develop more competitive products. February, p. 72. Privacy Issues For Your Eyes Only Eyes only may refer to:
* What's Next on Privacy. April, p. 38. * Electronic Security Firm Is Battle Hardened. April, p. 40. * Privacy on a Case-by-Case Basis. April, p. 42. * GLBA GLBA Gramm-Leach-Bliley Act of 1999 (Financial Modernization Act of 1999) GLBA Gay and Lesbian Business Association GLBA Great Lakes Booksellers Association GLBA Glacier Bay National Park and Preserve Privacy Regulations and Legislation Proposed and Enacted as of 2/3/03. April, p. 44. Privacy Matters. Congress continues to study ways to protect consumers' financial information. July, p. 76. Product Development Producing a Winner. Hard markets mean hard times for product development, but it doesn't have to be that way. April, p. 52. * Product Development's Ups and Downs ups and downs pl.n. Alternating periods of good and bad fortune or spirits. ups and downs Noun, pl alternating periods of good and bad luck or high and low spirits . April, p. 56. Property/Casualty Wedding Bells Wedding Bells can refer to:
* Happily Ever After The term happily ever after is used in association with many works of children’s fiction and romantic fiction. It describes a happy ending, often a cliché in which all the good characters have emerged victorious and all the evil characters have been punished. ? January, p. 49. * A Typical Policy. January, p. 50. Mixing--and Separating--Mold and Myth. Experts say it's hard to find scientific facts to support claims of some mold-related health hazards health hazard Occupational safety Any agent or activity posing a potential hazard to health. Cf Physical hazard. . February, p. 45. * CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation Investigates Mold. February, p. 46. * Allergy vs. Illness: The Burden of Proof. February, p. 48. Mold Delineated de·lin·e·ate tr.v. de·lin·e·at·ed, de·lin·e·at·ing, de·lin·e·ates 1. To draw or trace the outline of; sketch out. 2. To represent pictorially; depict. 3. . Insurance Services Office Insurance Services Office, Inc. (ISO) is a provider of data, underwriting, risk management and legal/regulatory services to property-casualty insurers and other clients. Headquartered in Jersey City, New Jersey, the organization serves clients with offices throughout the United has introduced policy language on mold to help insurers limit exposure but retain underwriting flexibility. February, p. 51. Insuring Tangible Property tangible property n. physical articles (things) as distinguished from "incorporeal" assets such as rights, patents, copyrights, and franchises. Commonly tangible property is called "personalty. . As trade secret theft becomes a greater risk, trade secret coverage becomes a bigger concern. February, p. 60. Staying Up Front. The longer the hard market lasts, the harder we must work to keep the public informed. February, p. 62. Getting the Price Right. Savvy personal lines writers are slicing the market into segments to price risk more accurately. March, p. 36. * Progressive Pioneered Segmentation. March, p. 42. True Value. Few insurers meet the challenge of making a profit through underwriting prowess and investment returns--but the ones who do, share interesting characteristics. March, p. 56. Surviving the Storm. By spending 5% to 10% more upfront to fortify for·ti·fy v. for·ti·fied, for·ti·fy·ing, for·ti·fies v.tr. To make strong, as: a. To strengthen and secure (a position) with fortifications. b. To reinforce by adding material. the construction of a new home, dwellings can be made more resistant to catastrophe-caused property damage.April, p. 47. * Building a Fortified Home. April, p. 48. Movable Coverage. Successor coverage may be narrower than successor liability. May, p. 62. Leading the Way. Insurers are looking to employees with good leadership skills to face current market challenges with confidence. May, p. 64. The Yearlings. The largest of the Bermuda start-ups formed in the wake of Sept. 11,2001, have already had an impact in the market.June, p. 50. * The Big Five. June, p. 52. Insuring Dreams. Mortgage guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. insurers are successfully navigating a mixed environment of low interest rates, increasing unemployment and increasing property values.June, p. 56. * The Rebirth of Mortgage Guaranty Insurance. June, p. 57. * The Impact of Federal Legislation. June, p. 60. No Doubts. Insurers that have formed mutual holding companies are finding value in their restructuring and say it's a decision they wouldn't change. September, p. 70. Battling Rising Prices. Increases in costs of key components in claims drive price indexes for the property/casualty industry's major business lines. September, p.77. Focusing on Value. There is ah optimal level of risk that maximizes a firm's shareholder value. September, p.81. Watch Your Step. With careful risk management, insurers can succeed in employment-practices liability insurance, which is growing in volume and danger. October, p. 77. In Need of Repair. To fix the problem of underpriced un·der·price tr.v. un·der·priced, un·der·pric·ing, un·der·pric·es 1. To price lower than the real, normal, or appropriate value. 2. umbrella policies Umbrella policy Insurance for exports of an exporter whose issuer handles all administrative requirements. , casualty underwriters must consider such factors as rising loss costs and antiquated attachment points. November, p. 72. A Burst of Trouble. Thunderstorms thunderstorms a storm characterized by thunder and lightning caused by strong rising air currents; identified as agents of animal disease because of their involvement causing (1) spasmodic colic; (2) lightning strike; (3) injuries of cattle acquired in stampedes initiated by storms. can cause greater annual aggregate losses than hurricanes, so insurers must be better prepared. November, p. 76. A Stricter Construction. In dealing with construction claims, insurance companies cannot be required to pay for damages that are imminent, only those that have occurred. November, p. 85. Cast Away. Cargo losses at sea are becoming more expensive to marine writers. December, p. 56. Execute or Perish TO PERISH. To come to an end; to cease to be; to die. 2. What has never existed cannot be said to have perished. 3. When two or more persons die by the same accident, as a shipwreck, no presumption arises that one perished before the . Insurers face two possibilities: a gradual slowing of rate increases leading to a period of stability, or a return to the competitive excesses of a soft market. December, p. 72. Regulation Getting It All Together. Florida's new chief financial officer looks to the challenge of combining two formerly independent departments, as well as resolving key insurance issues. February, p. 34. Quiet Clout. Much of the power in regulating and governing the insurance industry belongs to those who've never won an election or a cabinet-level appointment. March, p. 16. Quiet Clout: Singular Expertise. Robert Gordon For other uses of "Robert Gordon", see Robert Gordon (disambiguation). Robert Gordon (1668-1731), a 17th century merchant and philanthropist, was born in Aberdeen. He was the only son of Arthur Gordon who married Isabella Menzies of Balgownie. is a rare breed--an insurance expert on Capitol Hill. March, p. 17. Quiet Clout: Emergency Repairs. A deputy California insurance commissioner California Insurance Commissioner is an elected executive office position in California who is in charge of the California Department of Insurance. The current Insurance Commissioner is Steve Poizner. counts success in companies rescued--and plays a national role in improving insurance accounting standards. March, p. 18. Quiet Clout: Staying Power. Life insurers value fairness and institutional memory in government, traits that Susan Nash provides. March, p. 20. Quiet Clout: A Light Touch. When insurance issues land on the Treasury Department's doorstep, Wayne Abernathy is there to pick them up. March, p. 22. Quiet Clout: The Regulatory Web. Regulation of insurance has evolved over decades, divided among the states, an array of federal agencies and a handful of quasi-governmental bodies. Here's how the moving parts Moving parts are the components of a device that undergo continuous or frequent motion, most commonly rotation. "Parts" only include the mechanical components which does not include fuel, or any other gas or liquid. fit together. March, p. 24. Opportunity for Option. Opinion: Insurers and consumers would benefit from an optional federal regulatory system that encourages market competition. August, p. 56. * Optional Federal Charter, State Regs or Something Else. August, p. 57. Preserve and Improve. Opinion: The insurance industry must battle the push for federal oversight while streamlining state regulations. August, p. 61. Doing the Right Thing. Insurers struggle endlessly to balance their commercial interests with their role in meeting basic social needs. What needs to happen for them to succeed? September, p. 20. * Undue Credit? September, p. 34. Reinsurance Common Ground. Negotiations on facultative facultative /fac·ul·ta·tive/ (fak´ul-ta?tiv) not obligatory; pertaining to the ability to adjust to particular circumstances or to assume a particular role. fac·ul·ta·tive adj. 1. reinsurance have always been time consuming and labor intensive Labor Intensive A process or industry that requires large amounts of human effort to produce goods. Notes: A good example is the hospitality industry (hotels, restaurants, etc), they are considered to be very people-oriented. See also: Capital Intensive, Trading Dollars , but technology is making the process easier. January, p. 73. * Rise of Exchanges Won't Mean End for Reinsurer re·in·sure tr.v. re·in·sured, re·in·sur·ing, re·in·sures To insure again, especially by transferring all or part of the risk in a contract to a new contract with another insurance company. Systems. January, p. 76. Hitching a Ride. By becoming part of the reinsurance arrangement, life insurance producers can grow sales and long-term profits. July, p. 83. * Producer-Owned Reinsurance Structural and Financial Checklist. July, p. 84. Maximum Exposure. Rocked by the combination punch of corporate accounting scandals Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives of large public corporations. and the bear market following the major hit from Sept. 11, reinsurers face a new world of being scrutinized by trading partners while scrambling for capital. August, p. 38. * Life Reinsurers Face New Realities. August, p. 42. * Reinsurance Regulatory Road Map Is Under Review. August, p. 44. Coming of Age. Arbitration--the reinsurance industry's method of settling contract disputes--is no longer effective and needs an update. September, p. 41. Retirement Products Tinkering With ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). . Congress may amend the decades-old law protecting retirement benefits to allow providers of 401(k) and other retirement plans to advise investors. July, p. 77. Risk Management Microscope or Binoculars. Traditional risk managers are being divided into those who focus on insurance and those who oversee a company's entire risk, even risks for which insurance isn't available. April, p. 21. * Who Is a Chief Risk Officer? April, p. 24. * Risk Brings Opportunity. April, p. 26. Hard Times. The economy is not the only worry for risk managers, who play an increasingly vital and difficult role for the overall security of their companies. April, p. 29. Breaking Barriers. Risk managers and information technology managers need to work together to protect their companies from cyber-crime. April, p. 33. Assessing Real Risk. Realistic risk management requires more than traditional financial reporting and risk measurement techniques. July, p. 75. Enterprise Resilience. Companies must look beyond traditional risk management to fully protect the key components of their operations. July, p. 88. Smoke Stream. Insurers and brokers find new business opportunities in emissions trading Emissions trading (or cap and trade) is an administrative approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. and managing emissions risk. November, p. 50. Greater Than the Sum of the Parts. New risk management textbook connects with holistic problem solving problem solving Process involved in finding a solution to a problem. Many animals routinely solve problems of locomotion, food finding, and shelter through trial and error. . November, p. 53. Self-Insurance Critical Transfer. Brokers should advise self-insured clients to carve out to make or get by cutting, or as if by cutting; to cut out. - Shak. See also: Carve organ-transplant coverage to keep medical-benefits costs healthy. September, p. 37. Selling Facing the Tough Questions. Small-business owners increasingly are asking why their premiums keep rising. January, p. 55. Blinded by the Might. Companies shouldn't get caught up in the bells and whistles A slang English term for exceptional features in some product. In the computer field, it typically refers to functions in software that may be greatly appreciated by some users, even though they may not be necessary most of the time. of technology so much that they lose sight of basic sales and marketing functions. April, p. 87. Next Survivor Show? Industry associations are competing against each other for membership and prestige and must refine their focuses to stay afloat. May, p. 92. Border Crossing. Life insurance companies that have historically sold through banks in their own states look to other states' bankers organizations to help them expand distribution. June, p. 89. * Life Sales at Banks Remain Low, but Start to Gain. June, p. 90. Enemy Mine. Don't blame regulators; the misuse of sales gimmicks is the life industry's enemy. June, p. 105. Visionary Sales. Sales managers must be able to lead their staffs toward fulfilling the company's vision. August, p. 112. Finding Favor. The industry is weathering reactions to this hard market remarkably well. October, p. 80. Remember the Customer? Customers no longer want to wait to make a purchase. The life insurance industry must move faster to give customers what they want, or risk losing business. October, p. 100. Collective Clout. Purchasing coalitions are helping insurers spread the risk and offer employers and employees substantial premium savings. December, p. 30. * To the Benefit of All. December, p. 32. * Coalition Creativity. December, p. 35. Taking the Long View. Consumers need to consider their insurance purchases as part of their lifelong risk and asset management. December, p. 75. Facts and Fortunes. Ten things you need to know to sell successfully to the wealthy. December, p. 90. Getting Noticed. Even with strict regulations and a lack of variety in products, insurers must find ways to differentiate themselves from competitors. December, p. 93. Technology Cutting IT Can Be Costly. Reducing the budgets for information technology programs will not save companies money in the long run. January, p. 79. Securing the System. In the wake of viruses, hackers and worms, insurers maintain constant guard over their computer systems. February, p. 80. * The Enemy You Know. February, p. 82. Data Blocker. Insurers can adopt new technology tools to help them keep privacy data secure. February, p. 85. A Hunt for Treasure? Data mining can give insurers a tool to view their business in a new way. February, p. 90. Open Road. Technology engineers are pursuing newer and better ways to implement straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. on the Web. Standards make it possible. March, p. 89. * Hubs May Be Ready-Made Solutions for Some. March, p. 90. E-Sign Here. Many insurers have adopted a wait-and-see stance toward e-signatures because of uncertainty about compliance and lack of case law. March, p. 92. * E-Signatures: At a Glance. March, p. 94. Creative Solutions. Alternative resources can help companies deal with obsolete technology, manage costs and achieve growth. March, p. 98. Sky Alert. Wireless devices offer new conveniences for the insurance business, but also add new levels of risk. April, p. 88. The Electric Cure. Technology helped more WellChoice from the brink of bankruptcy to financial security and increased productivity. April, p. 92. Time to Get Real. Insurers must harness the Internet to grow business and reduce costs. April, p. 96. IT in a Cost-Driven Era. Insurers are using portfolio management tools to help allocate tight resources. April, p. 101. Building Credibility. Five insurance technologists discuss project management, the Internet, legacy systems and other challenges, plus their evolving role in the industry. May, p. 21. Eyes on India. Moving technology operations to India is giving insurers and insurance software providers cost savings and high-quality results. May, p. 98. * Strategies for Outsourcing Success. May, p. 100. Fitting the Bill. Technological advances have made the elusive target of electronic bill presentment and payment See EBPP. for group bills an attainable goal. May, p. 105. Power House. Utility computing (1) Pay-per-usage processing provided by a service organization that uses its own computers and facilities. Customers access the computers via a private network or over the Internet and are charged according to how much computing time they use, such as CPU seconds, minutes or hours. can lend itself immediately to providing business benefit. May, p. 108. Revealing Circumstances. New claims litigation software lowers total costs by streamlining the process and making it more transparent to insurers and lawyers. June, p. 109. * In Search of Savings. June, p. 110. Third Wave Evolving. A new, more responsible way of creating value and achieving growth is emerging within the insurance industry. June, p. 116. Under Separate Cover. Internet risks have become so great that some insurers have taken them out of general liability policies and given them policies of their own. July, p. 94. * Movement Builds for Cyber-Risk Standards. July, p. 97. Instant Connection. Instant messaging Exchanging text messages in real time between two or more people logged into a particular instant messaging (IM) service. Instant messaging is more interactive than e-mail because messages are sent immediately, whereas e-mail messages can be queued up in a mail server for seconds or is taking the business world by storm, and some insurers already are finding it improves productivity and reduces costs. July, p. 100. * Interoperability Effects. July, p. 102. Calculating Minds. Using precise analytical measures, insurers can compare the costs and benefits of Business Process Integration, a new technology that promises to bring incompatible data systems together. July, p. 105. Experiencing Technical Difficulties. Demand for information technology malpractice insurance Noun 1. malpractice insurance - insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice; "obstetricians have to pay high rates for malpractice insurance" is increasing as risks become more varied and pervasive. August, p. 115. Waking Tiger. With 59 million people online, China's e-commerce potential is enormous for insurers. August, p. 118. Knowing the Blueprints. Managers need key, up-to-date information to make real-time decisions. August, p. 124. A Business Leader in Technologist's Clothing. Barbara Piehler focuses a career of life insurance management experience into building new technology at Northwestern Mutual. September, p. 114. Reaching Out. Insurers need to match technology with agents' needs. September, p. 116. * Translating the Vision. September, p. 116. One or the Other or Both. In the battle between J2EE (Java 2 Platform, Enterprise Edition) A platform from Sun for building distributed enterprise applications. J2EE services are performed in the middle tier between the user's machine and the enterprise's databases and legacy information systems. and .NET, insurers must determine which platform best fits their needs. September, p. 118. * Old World Meets New World Through WebSphere. September, p. 118. * Reeling in the .NET. September, p. 120. * J2EE: The Great Communicator. September, p. 122. Pay As You Go. Utility computing helps insurers reduce costs by paying only for the services they need when they need them. September, p. 126. * The Ways to Pay. September, p. 127. Staying Competitive. Business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in is helping insurers drive value for com processes. September, p. 130. Spam: Finding the Cure. Although insurers don't typically target new prospects via e-mail, legal definitions of spam could affect communication with existing customers. October, p. 104. Spam: Empowering the Victims. Insurers are dealing with a daily deluge Deluge (dĕl`y  j), in the Bible, the overwhelming flood that covered the earth and destroyed every living thing except the family of Noah and the creatures in his ark. of spam, and technology is one tool to help ward off the growing mounds of unsolicited messages. October, p. 105. Protecting the Protectors. A new federal law is designed to encourage businesses to produce anti-terrorism technology by limiting their potential liability. October, p. 109. * The SAFETY Act at a Glance. October, p. 110. Strategic Marketing Technology. Information technology is being used to take strategic marketing to the next level. October, p. 114. Stretching Out. Global data standards are slashing tech costs and allowing insurers and reinsurers to communicate with global business partners in a common language. November, p. 108. * A Look at Standards. November, p. 109. Searching for Return on Investment. Insurers should determine if there is any strategic impact on corporate financial performance from IT investments. November, p. 112. How to Do IT. E-Fusion 2003: Insurers use information technology to increase profit and efficiency. December, p. 19. * Availity Health Insurer Joint Venture Is 2003 E-Fusion Award Recipient. December, p. 20. * Corporate Web Sites Gaining Value As Barometers of Brand, Reputation. December, p. 22. * Selective's Tech Commitment Benefits Agent Relationships. December, p. 22. * Electronic Application Helping to 'E-Volutionize' Business. December, p. 22. * As Wireless Technology Advances, Insurers Go Mobile. December, p. 22. * Information Security Is a Matter of Law, Not Just Technology. December, p. 24. * Security Benefit Group Speeds Its Systems for Better Performance. December, p. 24. * Atlantic Mutual Deconstructs Databases to Help Agents. December, p. 24. * Communication Is Key at the 'Quiet Company.' December, p. 24. * Metlife Auto & Home Group Takes a Bite Out Verb 1. bite out - utter; "She bit out a curse" let loose, let out, utter, emit - express audibly; utter sounds (not necessarily words); "She let out a big heavy sigh"; "He uttered strange sounds that nobody could understand" of Fraud. December, p. 26. * IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) Says WebSphere Can Increase Insurers' Productivity in the Future. December, p. 26. * Technology Drives St. Paul's
n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. . December, p. 26. * Microsoft .NET See .NET. Makes Integrating Systems Faster. December, p. 26. * Ace Handles Huge Global IT Challenge Through Outsourcing. December, p. 27. * Online Marketing Plan Requires Dedicated Web Site, Expert Says. December, p. 27. * Insurance Technology Boosts Focus on Producer Services. December, p. 27. * J2EE Touted for Large Pool of Trained Developers. December, p. 27. * On-Time, On-Budget Project Adds New Business. December, p. 28. * Truth of Friction: Measuring ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). in Technology Projects. December, p. 28. Service-Based Architecture. Being an on-demand insurer offers greater market effectiveness, lower IT costs and higher earnings. December, p. 96. Terrorism Tackling Terrorism Coverage. A government backstop will have limited value since most claims likely will fall within net retentions in the Terrorism Risk Insurance Act The Terrorism Risk Insurance Act (TRIA) is a United States federal law signed into law by President George W. Bush on November 26, 2002. The Act created a federal "backstop" for insurance claims related to acts of terrorism. . February, p. 57. Terror on the Seas. Although terrorism is growing as a risk for marine insurers, they are still focusing on the same underwriting factors--geography, type of cargo and packaging. March, p. 44. * Shiver My Timbers Shiver my timbers (sometimes pronounced "shiver me timbers") is an exclamation in the form of a mock oath usually attributed to the speech of pirates in works of fiction. It is employed as a literary device by authors to express shock, surprise or annoyance. . March, P. 45. * A Very Large Bucket. March, p. 48. Sticking to Fundamentals. The new terrorism insurance Terrorism insurance is insurance purchased by property owners to cover their potential losses and liabilities that might occur due to terrorist activities. It is considered to be a difficult product for insurance companies, as the odds of terrorist attacks are very backstop is not a panacea Some antidote or remedy that completely solves a problem. Most so-called panaceas in this industry, if they survive at all, wind up sitting alongside and working with the products they were supposed to replace. . June, p. 88. A Glass Hall Full. As the Terrorism Risk Insurance Act approaches its first anniversary, demand for terrorism insurance is low, but industry experts say the backstop is bringing capacity and stability to the marketplace. September, p. 50. * ATRIA Atria The heart has four chambers. The right and left atria are at the top of the heart and receive returning blood from the veins. The right and left ventricles are at the bottom of the heart and act as the body's main pumps. Primer. September, p. 52. * Nuclear Power Plants Benefit From TRIA TRIA Terrorism Risk Insurance Act of 2002 TRIA Term Requirement in Average . September, p. 54. * Reducing the Risk. September, p. 56. * AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group and FM Global Actively Sell Terrorism Insurance. September, p. 58. Underwriting Learning Through Losses. Analyzing an account after a large claim can lead to improved underwriting, prevention of more losses and better claims handling. January, p. 52. Taking the Time. Although insurers say they haven't changed their underwriting standards, they are investing more time and money to add staff, improve technology and extend research. March, p. 51. Getting to Horizontal. The 20th-century life underwriter often slowed down the process of an application or stopped it altogether. The new underwriter will become more of a team player. March, p. 86. Knowing the Competition. In the highly competitive insurance industry, we cannot afford to be negligent in analyzing our competitors. April, p. 62. Doing Right on Governance. The core corporate governance is the development of a risk-sensitive culture that enables the right people to do the right thing at the right time. April, p. 85. A Time for Self-Promotion. Underwriters playa playa or pan or flat or dry lake Flat-bottomed depression that is periodically covered by water. Playas occur in interior desert basins and adjacent to coasts in arid and semiarid regions. central role in the life-insurance business, but insurers may not fully recognize their value. May, p. 96. Getting the Right Value. Insurance to value is a fundamental tenet of good underwriting and should not be subject to changes in cycles. July, p. 71. What Makes Stock Sizzle siz·zle intr.v. siz·zled, siz·zling, siz·zles 1. To make the hissing sound characteristic of frying fat. 2. To seethe with anger or indignation. 3. ? It's no secret some life insurance stocks have greater investor appeal than others. July, p. 92. Triage triage Division of patients for priority of care, usually into three categories: those who will not survive even with treatment; those who will survive without treatment; and those whose survival depends on treatment. in Teleunderwriting. An underwriting system with new techniques can speed up the process and save insurers money. August, p. 114. Writing for Differences. Multilayered mul·ti·lay·ered adj. Consisting of or involving several individual layers or levels. underwriting is a tremendous advantage to agents, insurers and policyholders. September, p. 82. Retooling the Auditing Process. An audit that is properly executed will capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. a great opportunity to improve. October, p. 82. Out From Under. Quick, precise underwriting that reflects the latest medical treatments can cut expenses and enhance product appeal. November, p. 102. 'Snake Oil' Pollutes Underwriting. The very concept of insurability will be at risk unless underwriters embrace new and faster modes of risk assessment. November, p. 106. Underwriting as Marketing. Quicker but still-accurate underwriting can give agents and insurers a sales advantage. December, p. 94. Workers' Compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. The Knowledge Gap. Many companies face an education gap in managing workers' compensation cases. March, p. 64. Filled to the Brim. While workers' compensation insurance pools have grown rapidly in the past two years, they are still nowhere near the crisis levels reached more than a decade ago. May, p. 47. * Workers' Como Hot Spots hot spots acute moist dermatitis. : California and Florida. May, p. 48. * California Fund: The Bigger They Are, the Harder They Fall? May, p. 50. * Florida's Residual Market: Time for Change? May, p. 54. |
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