RICH IN POTENTIAL
Sandy provides an ideal teaching
moment for illustrating the value
of high-net-worth coverage
Page 22
TOP STORIES OF THE WEEK
AIG's Sandy Losses to Reach $2B
American International Group says its total
insured losses from Superstorm Sandy will
be $2 billion, while Chubb estimates its
losses at around $880 million. The Hartford, Ace and Hanover Insurance Group
project they will lose hundreds of millions
as claims continue to mount. E Page 6
Fitch: Insurance Broker Revenue
to Remain Stable in 2013
Insurance brokers are not expected to make
any great strides in their earnings in 2013,
as competition and continued world
economic challenges will leave little room
for improvement. E Page 7
Rate Increases Continue for Both
Commercial and Personal Lines
MarketScout reports rates for commercial-lines accounts were up an average of 5
percent year-over-year in November, while
personal lines increased by 4 percent.
Commercial Property, General Liability,
Umbrella/Excess, Commercial Auto and
Workers’ Comp increased the most at 5
percent. E Page 8
Joe Plumeri: The Exit Interview
In an NU exclusive, outgoing Willis CEO Joe
Plumeri discusses his reasons for stepping
down and shares his views about the brokerage, the industry at large and contingent
commissions, among other topics. E Page 10
2012
TOP 10 STORIES OF
Hardening market, Superstorm Sandy and shifts in tech use
rank among the year’s biggest headlines See page 12
UNCERTAINTY RULES RISK
MANAGER OUTLOOK FOR 2013
RMs cite the broader economy and
hardening markets in lines such as
Professional Liability and Workers’
Comp as top concerns for next year
