P & C Insurers Future "Problematic"

August 29, 2010

Are P&C insurance companies telling the truth about their profitability? Or are they playing the same old game of under-reserving losses?

Our Markets

August 24, 2010

I just returned from Scottsdale Insurance Company's owners meeting. This is the annual gathering of the owners of wholesale agencies who do business with Scottsdale. It's an opportunity to mingle with the people of Scottsdale as well as our wholesaler colleagues from around the country.

Financial Storm Clouds

August 10, 2010

Amidst all the rosy financial reports from P & C insurers comes this from the latest issue of Best's Review magazine: financial impairments of insurance companies have more than tripled since 2007.

A.M. Best research identified 18 impairments in 2009, up from 16 in 2008 and only five in 2007. Most of the impairments resulted from under reserving and under pricing. Only three were caused by investment problems. Is under-reserving prevalent in insurance company financial reporting? It certainly wouldn't be the first time.

Financial Reform and Surplus Lines

August 1, 2010

There's a  lot of stuff in the recently passed Financial Reform bill. Believe it or not, the part about surplus-line insurance hasn't received a lot of play in the media. According to our trade association NAPSLO - National Association of Professional Surplus Line Offices - non-admitted insurers and brokers came out winners in this legislation.

Summer Reading

July 31, 2010

A son and mother writing team - Michael Kaplan and Ellen Kaplan give an entertaining mathematical and historical trip through chance and randomness: Chances Are... Adventures in Probability.

"Revitalizing the American Dream"

July 20, 2010

The cover of the current issue of Inc., "The Magazine for Growing Companies" shouts "Bring on the Entrepreneurs!" Inside is its report "Revitalizing the American Dream."

Thank You, Larry

June 29, 2010

Larry Patterson retires this week. Larry was our first designated Marketing Person, joining us in 2004. He brought many years of experience and knowledge to our organization. Many of you know Larry from trade shows or visits to your offices. You may have played golf with him at an Agents' association event. (He's tough to beat.) Larry was tireless in his role of spreading the word about Pacific Coast E & S Insurance Services. He truly was our good will ambassador. Thanks, Larry for your professionalism and hard work, your enthusiasm and good cheer. Enjoy your golfing and fishing!

George Rothert

Energy From the Sun

June 26, 2010

As more and more people convert to solar power, they sometimes find opposition from homeowners' associations. The associations, and even city planning commissions, sometimes fight to prevent installation of solar electric and solar water heating on rooftops. Apparently there are some disagreements about what is aesthetically acceptable.  Homeowners are winning their battles in court and also in out-of court settlements.

We Don't Write in Colorado, but...

June 9, 2010

Colorado lawmakers have passed legislation that has stopped cold many carriers from writing General Liability coverage for contractors.

House Bill 1394 was signed into law on May 21, 2010. The law applies to all liability policies currently in existence or issued on or after this date. This law, as it now stands, legislates policy language that broadens the scope of coverage to require an insurer to "guarantee" a contractors' work and cover occurrences, including the contractors own faulty work, which took place prior to a policy's inception.

Signs That Things Are Getting Better?

June 7, 2010

The 30th annual Napa Valley Wine Auction last weekend raised significantly more money for local charities than the 2009 event. The take for this year's auction was $7.1 million, up dramatically from last year's $4.3 million. This is still below the record $9.25 raised in 2005. The money goes to local charities such as Community Health Clinic, Boys & Girls Clubs and Napa Valley Community Housing. The top bid this year was $350,000 which featured 10 magnums of Harlan Estate wine from Napa Valley and a dinner for eight.

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