Insurance News - Commercial Insurance Prices Remain Level for Sixth Straight Quarter, According to Towers Watson Survey - Towers Watson

Insurance News - Commercial Insurance Prices Remain Level for Sixth Straight Quarter, According to Towers Watson Survey - Towers Watson

Commercial Insurance Prices Remain Level for Sixth Straight Quarter, According to Towers Watson Survey - Towers Watson

September 22,2010, Investment Weekly New

Investment Weekly News via VerticalNews.com

While commercial insurance prices continue to remain relatively flat for the sixth consecutive quarter, insurers that utilize predictive modeling in their pricing and risk selection process reported that they were better able to hold price levels, according to global professional services company Towers Watson's (NYSE, NASDAQ: TW) most recent Commercial Lines Insurance Pricing Survey (CLIPS).

Overall, commercial insurance prices in aggregate declined by 1% during the second quarter of 2010, according to the company's survey, which compared prices charged on policies underwritten during the second quarter of 2010 to the prices charged for the same coverage during the same quarter in 2009. While data for most lines indicate flat prices, the Commercial Property, Directors and Officers Liability, and Employment Practices Liability lines show price reductions.
Yet those companies that use predictive modeling techniques for pricing and risk-tiering reported slight price increases -- on average -- compared to companies that do not use predictive modeling. Insurers that have yet to implement predictive modeling experienced price decreases greater than the overall decline of 1.0%. The most recent survey was the first time Towers Watson queried respondents on their use of predictive modeling and, while these indications are preliminary, they point to the power of predictive modeling.
"The bottom line is that effective predictive modeling enhances underwriting and pricing profitability," said Bruce Fell, practice leader of Towers Watson's risk consulting and reinsurance brokerage services to the P&C industry in the Americas. "The commercial lines insurers that are taking advantage of predictive modeling are finding new rating variables and sources of data, and are applying the results in new and innovative ways."
CLIPS results indicate that accident-year-to-date 2010 loss ratios deteriorated 4% relative to year-to-date 2009. This deterioration -- which is based on six months of information and is therefore preliminary -- is consistent with an estimated deterioration of 4% for accident-year 2009 over 2008. The firmer prices in year-to-date 2010 on an earned basis are offset by somewhat higher claim cost inflation indications than that observed in 2009. About CLIPS CLIPS data are based on both new and renewal business figures -- when available -- obtained directly from carriers underwriting the business. This particular survey compared prices charged on policies underwritten during the second quarter of 2010 to the prices charged for the same coverage during the same quarter in 2009.
CLIPS participants represent a cross section of U.S. property & casualty insurers that include many of both the top 10 commercial lines companies and the top 25 insurance groups in the U.S. CLIPS' measurement of both pricing changes and loss ratio changes also sets it apart from other studies.
Participation in CLIPS has been increasing, as carriers believe it provides a more accurate picture of price changes, and find it useful in setting assumptions for product pricing and estimating claim liabilities.

The survey results track the differing trends in pricing across various regions, lines of business and account sizes on a quarterly basis. Historically, price level and loss ratio change results vary considerably by line of business and market segment. About Towers Watson Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers solutions in the areas of employee benefits, talent management, rewards, and risk and capital management. Towers Watson has 14,000 associates around the world and is located on the web at http://www.towerswatson.com/.

Access Content Source: http://www.insurancenewsnet.com/article.aspx?id=226866&type=propertycasualty

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.

What to eat – and avoid – when you fly - The Globe and Mail

What to eat – and avoid – when you fly - The Globe and Mail

The Globe And Mail

What to eat – and avoid – when you fly

Diane Jermyn

Special to Globe and Mail Update

Published Friday, Sep. 24, 2010 10:24AM EDT

If you’re travelling for business, what should you eat and when? We asked Alexandra Anca, a registered dietician and nutritional consultant based in Toronto.

What foods should you avoid eating when you fly and why?

There are two symptoms typically associated with flying. The first is dehydration because you’re up at a higher altitude and typically the moisture content in airplanes is very low, only 10 to 20 per cent. The second is gastrointestinal discomfort because gases tend to expand when you’re up in the air.

If it’s just a two-hour flight, what you eat is not going to make that much of a difference. If you’re on a long trans-Atlantic or overnight flight, you should avoid eating gas-producing foods such as carbonated beverages, or cruciferous vegetables like broccoli, cauliflower and Brussels sprouts. Sometimes meals on the flight come with coleslaw. Definitely avoid the coleslaw! It’s cabbage and again part of the cruciferous family.

Also avoid foods that take longer to digest, such as anything that’s rich or creamy or starchy foods. Too much fat and starch will cause more gas. Usually, you can get rid of gases that are produced normally just by walking around. In a flight, where you’re mostly sitting, the gases tend to ferment and intensify and so the symptoms of discomfort are more pronounced.

What items should you skip in a typical airline meal?

If the meal offers some lean protein with some (non-gassy) vegetables on the side, that should be fine. Also limit your intake of fats and starches, so pass up the roll with butter and dessert. If the meal is heavy or creamy, consider skipping it. It’s better to snack more frequently – every few hours – than have a larger, heavy meal with ingredients that may make you uncomfortable.

Can some foods help you deal with jet lag?

There are no specific foods that I’m aware of that help, but some groups of food can help. Again, on long flights you should reduce your intake of starches and focus on protein and easy-to-digest vegetables. If you have starches, then your blood sugar levels rise, giving you a boost of energy when you really should be sleeping.

There was a study by Harvard University researchers in 2008 that looked at how to combat jet lag with food. Essentially what they found was that not eating for about 16 hours or so can actually help you better manage the symptoms of jet lag because doing so readjusts your “feeding clock.” The body has two internal clocks. One is your normal circadian rhythm – your natural clock governing when you wake up and go to sleep. The other is a feeding clock that takes care of the times when you’re naturally hungry. The feeding clock can overtake your regular circadian rhythm clock. If you don’t eat, you can reset the feeding clock – you start it up [by eating] and your body starts being active again because it hasn’t had any food.

You could eat a healthy meal – something lean and easily digestible – before you get on the plane and just have a snack on the flight, such as a few nuts, a banana or yogurt that you bring with you. Then plan to eat an hour before landing or as soon as you land. It may help you deal with the effects of jet lag a lot better.

If you're stuck at an airport, what are the healthiest options to chose in a sea of fast food joints?

In the past few years, airport fare has become a little more sophisticated. There are quite a few cafes and outlets that sell healthier options such as paninis and ciabattas that can customize your sandwiches. Any time you can customize your order, go for lean protein such as chicken, turkey or fish and avoid any of the higher-fat-content toppings and dressings.

Do you have any trick for reducing fat or calories or sodium from standard menu items?

Often the protein sources – the poultry or meat – are already preseasoned, so it is very important to mention to the server not to add any additional salt. If they can grill from scratch, you can ask that they not add the seasoning. Typically, places like Pumpernickel’s or Swiss Chalet will be able to customize your order. Sodium and fat are pretty much the biggest culprits with airport food.

If you do go to a restaurant, make sure you choose grilled poultry or meat instead of fried. When ordering salad, limit the amount of bacon bits, croutons or any of the crispy noodles, and ask for dressing on the side.

What nutritional snacks can you suggest to bring onboard, especially as many airlines don't offer food on short flights?

Some food outlets in airports have snack-sized yogurts and bananas. A source of protein and a source of natural sugar or carbohydrate are a good pairing to help you stay on an even keel energy-wise and keep you feeling satisfied. If you purchase your snacks after you pass through security, you should be able to bring them onboard. Another alternative is about one ounce of unsalted nuts like almonds. The portion sizes they sell are quite generous, so don’t feel you have to eat them all. Stop at about 23 nuts and have them with a banana. Make sure you stay hydrated with water or unsweetened liquid like non-caffeinated tea. Apples are a bit gas-producing, so I don’t recommend them on long flights. But those little snack-sized Babybel Gouda cheeses make a good snack to have with some crackers.

To drink or not to drink? Is it okay to have alcohol in moderation on a flight?

I don’t think it would be detrimental to have one alcoholic beverage – four or five ounces of wine – on a flight as long as it’s kept within moderation and not on an empty stomach. More than that could lead to behavioural issues. Beer would be gas-inducing, but it’s not an issue on a short flight.

Alexandra Anca is member of the College of Dietitians of Ontario, Dietitians of Canada and is chair of the Consulting Dietitians Network. She also serves as nutrition adviser to the Toronto Chapter of the Canadian Celiac Association.

Access Content Source: http://www.theglobeandmail.com/report-on-business/your-business/business-categories/business-travel/what-to-eat-and-avoid-when-you-fly/article1723206/

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.

Three Star Leadership Blog: Delegate, don't dump

Three Star Leadership Blog: Delegate, don't dump

Working Supervisor Toolkit

Wally Bock, 9/20/2010

Delegate, don't dump

Lots of bosses are good at dumping, but not at delegating. They're great at off-loading the things they don't like to do and dropping assignments on their team members with little or no guidance.

Other bosses think that delegating is always the best way to assign work. That's not right either.

When you've got a competent and willing team member, delegation is the right way to go. But it's not a good choice for workers who aren't as competent or as committed.

Delegation is only one among the four basic options to choose from when you assign work to a team member. Here they are in order from the one where you exercise the most control to delegation, where you exercise the least.

[1] "Telling" is the style where you make all the basic decisions about how the work will be done. There are two situations where it's the right choice.

Telling is good for people who may be new to the job. They usually have lots of enthusiasm, but they don't know how to do the job yet. Coaching should be a big part of your telling, so your new team members learn the ropes and stay enthusiastic.

Use Telling with team members who've proved that they may have the competence, but they don't work responsibly on their own. Those are discipline problems and tight control is appropriate.

[2] "Discuss and Tell" is the name I give to the style where you discuss things with your team member, but you keep control of most decisions about how things will be done. This is good for less experienced people who either need instruction or who need their confidence built up.

Discuss and Tell is the style that most managers seem to like best and revert to under pressure. They think it lets them be both "participative" and in control. But using only Discuss and Tell is a bad idea, especially when you're helping a team member grow and develop.

At some point, your team member will demonstrate that he or she understands the work that needs to be done. That's the time to use the style I call "Discuss and Allow." With that style you discuss the work with your team member, and then let them decide what to do.

[3] "Discuss and Allow" is the hardest option for most managers because it involves giving up control before they're really sure how competent a team member is. But it's essential if your team member is going to develop to a point where you can delegate to him or her.

Most of the bosses I've worked with want to hang on to control too long. If that team member is pushing you to let him or her try things their way, I suggest you do so. Follow up more closely if you must, but the big learning jump for most folks comes when they get to try things on their own.

Some bosses fall off the other side of the horse. They want to jump right over this step and simply assign work. Don't do it.

Part of your job as a manager is developing your people so they can do whatever you assign. That won't happen all at once. To make sure they develop well, you've got to go through Discuss and Allow before you move to the style I call "Allow" or "Delegate."

[4] "Allow" or "Delegate." When you delegate, you give your team member the assignment and ask what they need from you. This is true delegation. It's only appropriate for people who have mastered the work to be done and who willingly pitch in. It's only appropriate if they have all the resources they need to do the job.

As you work with people new to the job you'll move through the four styles as they grow and develop. Remember that you use different styles with different people and with the same people on different tasks. You make your decision on what style to use based on your team member's ability and willingness to handle the specific work you need to assign.

Boss's Bottom Line

Part of your job is to help your team members develop. That will only happen if you give them as much control over their work life as you can, based on their ability to do the job and their willingness to tackle it on their own.

This post is based on material in the Working Supervisor's Support Kit.

Wally's Working Supervisor's Support Kit is a collection of information and tools to help working supervisors do a better job. It's based on what Wally's learned in over twenty years of supervisory skills training. Click here to check it out.

Posted by Wally Bock at 9/20/2010 8:45 AM

Access Content Source: http://blog.threestarleadership.com/2010/09/20/delegate-dont-dump.aspx

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http://dreamlearndobecome.blogspot.com This posting was made my Jim Jacobs, President & CEO of Jacobs Executive Advisors. Jim also serves as Leader of Jacobs Advisors' Insurance Practice.