Article Abstract:
Two smaller property and casualty insurance underwriters have fashioned strategic alliances with large insurance carriers in order to tap the buying power and capital base of the latter to improve their market position. The $51-mil-per-year multilines carrier Montgomery Mutual Insurance Co. has formed an alliance with Liberty Mutual Group, which accounts for annual net premiums of over $5 bil. First Delaware Insurance Co., which is accountable for $4 mil in small commercial line premiums, has formed an alliance with Old Guard Insurance Group, which is responsible for $100 mil in annual premiums.
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Article Abstract:
Insurance companies are again trying to boost the importance of the group market by emphasizing the work site selling of insurance products. Previously, insurers' efforts at using the workplace as a new product distribution channel have resulted in losses, but insurers believe that new information technologies and strategies will make work site selling profitable. Metropolitan Property & Casualty Co is using an on-line system to market its personal lines insurance products to Microsoft Corp employees.
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Article Abstract:
Insurance claims fraud is a growing problem, but not a new one. In his book "Accidently, on Purpose - The Making of a Personal Injury Underworld in America," Ken Dornstein chronicles the history of personal injury insurance claim fraud from faking injuries aboard steam trains in the 1800s to the ever-expanding series of auto and personal injury fraud prevalent in the 1990s.
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