Asked about growth opportunities, Ed Hochberg, CEO North America, JLT Re, speaking at the PCIAA meeting said, "Flood."
"We're trying to get the admitted carriers a little more comfortable with the peril, [and] let them know that it's a place where they can safely grow some premium," said Ivan Maddox, executive vice president at Intermap Technologies, speaking at the PCIAA meeting.
A survey conducted in late 2012 by FICO and the Property Casualty Insurers Association of America (PCIAA
) showed that more than half--54 percent to be precise--of insurers expect to see an increase in the cost of fraud this year on personal lines, and that less than three percent expect to see a decline in the cost of fraud on personal lines.
Ohio and Kansas are the latest in a line of state legislatures considering letting drivers use their cell phones to show proof of insurance, Property Casualty Insurers Association of America (PCIAA) reports.
"Electronic proof of coverage is one of the hottest insurance-related legislative trends for 2013," PCIAA says
28-31--Property and Casualty Insurers Association of America (PCIAA
), 2007 Annual Meeting, Boston, MA.
Erie Insurance president and CEO Terrence Cavanaugh, incoming chair of the PCIAA
, said he's concerned by a lack of transparency and the impact of rules being made by international regulators.
Annual Meeting, Property Casualty Insurers Association of America, Scottsdale, Ariz.
5-8--Property Casualty Insurers Association of America (PCIAA
), 2006 Annual Meeting, Seattle, WA.