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December 4, 2012

  Risk, Insurance, Claims & Safety 
  • Disaster planning requires a focus on insurance needs, experts say
    Organizations should be prepared for disasters such as Hurricane Sandy by ensuring they have the proper coverage and understanding their policies, say Neil Harrison and Roland Laury of Aon Risk Solutions. Carefully document damages and related expenses and get in touch with the insurance company immediately after a major incident, Harrison and Laury say. Following Sandy, "we are spending a lot of time talking to organizations and helping them to say, 'OK, what if it was us? Would we have been ready? Were we prepared?' " Harrison says. Smart Business online (12/1) LinkedInFacebookTwitterEmail this Story
  • Experts: Event-cancellation claims should meet all policy terms
    Event organizers and sponsors need to understand policy terms and exclusions before buying event-cancellation insurance, lawyers Jeffrey Schulman and Shaun Crosner write. An event-cancellation policyholder also should work to meet all policy terms and conditions when filing a claim, Schulman and Crosner write. "[T]he scope of coverage provided by event cancellation policies can vary widely, so insureds should carefully review their policies prior to making a claim to ensure that they frame their claim in a way that maximizes recovery and takes full advantage of the coverage provided," they write. Insurance Journal (11/26) LinkedInFacebookTwitterEmail this Story
  • Market remains soft for airline insurers, report says
    Capacity is strong and claims are at a relatively low level as the soft market continues for airline insurance this year, according to an Aon report. Lead hull and liability premiums dropped about 10% on average in November, although average fleet values rose 5% and passenger numbers were up 4%, Aon said. "Healthy market capacity is driving competition between underwriters. Lead insurers are clearly performing for their clients as, to a great extent, few accounts are making changes," Aon said. PropertyCasualty360 (11/26) LinkedInFacebookTwitterEmail this Story
  Workplace & Retirement 
  • Aon: Loss rate to hold steady for workers' comp health claims in 2013
    U.S. health care systems can expect a loss rate of 79 cents per $100 of payroll in workers' compensation for the 2013 accident year, Aon Risk Solutions said in a report. While claims are expected to grow in severity, the frequency is likely to drop, Aon said. The loss rates have remained stable since 2008, and that consistency is because of factors such as technology and the focus on a safe environment for patients and workers, according to the report. Insurance Journal (11/29) LinkedInFacebookTwitterEmail this Story
  • Study: Participation in workplace plans stabilized last year
    Participation in employer-sponsored retirement plans was 39.7% in 2011, which was nearly unchanged from the year before, the Employee Benefit Research Institute found. The finding is a change from the three preceding years, when participation rates fell, likely as a result of the economic downturn, the EBRI says. The highest participation rate was 53.7% among public-sector workers ages 21 to 64, although that percentage was a slight dip from 2010 figures, according to the EBRI. Pensions & Investments (free registration) (11/27) LinkedInFacebookTwitterEmail this Story
  Higher Education 
  • Former N.J. college official is sentenced for theft of $44,000
    Peter Burnham, former president of Brookdale Community College in New Jersey, received a five-year prison sentence after pleading guilty to charges that he stole about $44,000 from the college. Burnham admitted he used college credit cards for personal reasons and took reimbursement for his son's tuition at another college despite the financial aid his son had already received. Before his sentencing, Burnham asked the college for more than $36,000 in unused vacation time, according to this article. Daily Record (Morristown-Parsippany, N.J.) (12/1) LinkedInFacebookTwitterEmail this Story
  • Violence at Morgan State prompts calls for security improvements
    The shooting of a Morgan State University football player last week by a nonstudent has added to calls for campus safety in the wake of multiple incidents of campus violence, including armed robberies and another shooting three months ago. The university increased police patrols after the most recent shooting, and officials say they're considering other measures to increase safety. The Baltimore Sun (12/1) LinkedInFacebookTwitterEmail this Story
  Leadership & Management 
  • Slow down and start learning from your failures
    Failures should be part of a learning process, writes Henna Inam, CEO of Transformational Leadership. Rushing to avoid or cover up failures means missing an opportunity to grow wiser and stronger, Inam argues. "[W]e need to think about failure as a process we go through rather than an event to avoid at all costs," she writes. SmartBrief/SmartBlog on Leadership (11/28) LinkedInFacebookTwitterEmail this Story
  News From Aon 
  • Health Care Workers' Compensation Barometer report
    Claim frequency expected to decrease as claim severity increases in 2013, according to Aon's inaugural Health Care Workers' Compensation Barometer report. Read more. LinkedInFacebookTwitterEmail this Story
  • Q4 Aerospace Market Update
    Aon Risk Solutions Aerospace Insurance Market Update, Quarter Four 2012, is now available. The persistently soft conditions in the aerospace insurance market continue, with little sign of change in the short to medium term. The aviation sector is on course to deliver a second year of exceptionally low claims. Read more. LinkedInFacebookTwitterEmail this Story
Silent gratitude isn't much use to anyone."
--Gladys Bronwyn Stern,
British writer

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