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... ) Please consider the following: 1. Would you recommend this company? 2. What about this company do you like/dislike? 3. Why did you choose this rating? Submit This Anonymously Submit Cancel Contact Us contact_phone Click to call Unfollow First name: Last name: Email: Are you sure you want to deactivate your CompleteMarkets Company Profile Deactivate Cancel Loading.. About Us Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All Back Actuarial Checklist For The Insurance And Risk Management Professional 4/30/2013 10:45:23 PM by CompleteMarkets Editor , Al Rhodes This content has not been rated yet. ACTUARIAL CHECKLIST FOR THE INSURANCE AND RISK MANAGEMENT PROFESSIONAL by Al Rhodes The responsibilities of risk managers, risk management consultants, accountants, and brokers increase as insurance programs become more complex. An experienced casualty actuary must help manage these new responsibilities. This report poses several questions that will arise when you shop for a casualty actuary and answers them frankly and concretely. WHEN DO YOU NEED THE SERVICES OF A CASUALTY ACTUARY? There are two reasons to use an actuary: (1 ) Some insurance programs require an actuary to review loss experience, and (2 ) an actuary is needed for technical/insurance management expertise to ...

...of loss development factor data: actuaries, brokers, insurance companies, and ...

... x No Thanks Loading.. Loss Portfolio Transfer 4/30/2013 by CompleteMarkets Editor , Al Rhodes This content has not been rated yet. LOSS PORTFOLIO TRANSFER by Al Rhodes A loss portfolio transfer (LPT) is one of the few transfers that can be a winning deal for buyer and seller. An LPT allows you to transfer claims to another party for a fixed sum. An LPT program involves past claims, but not future claims, as with a traditional insurance program. The main steps in an LPT are the claims review; actuarial analysis; and accounting for the transferred portfolio. The transaction involves the portfolio value of the liabilities, which is discounted to net present value; the investment value of risk capital; and issues such as administration, accounting, and taxes. SELLER'S ADVANTAGES: Eliminating uncertainty over the cost of losses, pay-out patterns, and interest-rate risks, including unreported losses. Reducing administrative duties. Eliminating accumulated collateral. Freeing up escrow funds used for claims handling from the TPA or the carrier. Seeing a positive effect on the balance sheet. Getting an accelerated tax benefit. SELLER'S DISADVANTAGES: Immediately paying the claim reserves' net-present value may reduce cash flow and investment opportunities if the value of cash increases. Losses may be lower than anticipated. The loss pay-out may be longer than anticipated. The seller may lose control of claims handling. The seller has to pay a fee for transferring the risk and administration. Losses might not be properly accrued or accounted for on current books. BUYER'S ADVANTAGES: The buyer gets a fee and may be able to manage ...

... Services Jobs PR Newsletters Employees Articles Blog Photos Group Connections Reviews IMMS Library Immerse yourself in our stacks. Take some time and browse through our library. We have thousands of articles, checklists, tip sheets, sales letters, and more! Communications Marketing Customer Service Planning Finance/Accounting Risk Management Human Resources Selling Legal and E&O Technology Life/Financial Services Glossaries Management Resources & Links Categories Popular Recent All risk managers Articles tagged with risk managers Back A Look At Value Added Selling As An Answer To Price Selling This content has not been rated yet. CompleteMarkets Editor , Allen Karlin 4/30/2013 10:41:34 PM A LOOK AT VALUE ADDED SELLING AS AN ANSWER TO PRICE SELLING by Allen Karlin, Ph.D. U.. All Articles by CompleteMarkets Editor Comments (0 ) Actuarial Checklist For The Insurance And Risk Management Professional This content has not been rated yet. CompleteMarkets Editor , Al Rhodes 4/30/2013 10:45:23 PM ACTUARIAL CHECKLIST FOR THE INSURANCE AND RISK MANAGEMENT PROFESSIONAL by Al Rhodes The responsibilities of risk managers, risk management consultants, accountants, and brokers increase as insurance.. All Articles by CompleteMarkets Editor Comments (0 ) Are Antiquated Phrases Hurting Your Business? This content has not been rated yet. CompleteMarkets Editor , Gary Blake 4/30/2013 12:00:00 AM ARE ANTIQUATED PHRASES HURTING YOUR BUSINESS? by Gary Blake As someone who travels from one insurance company to another teaching Effective Business Writing for Claims and Risk Managem.. All Articles by CompleteMarkets Editor Comments (0 ) Are Multi-Year Policies Really A Good Choice? ...

... workers compensation Articles tagged with workers compensation Back 19 Tips For Getting Risk Submissions Accepted This content has not been rated yet. CompleteMarkets Editor 4/30/2013 10:40:32 PM 19 TIPS FOR GETTING RISK SUBMISSIONS ACCEPTED We subscribe to the win-win' theory of negotiating when placing business with our company underwriters. The placement has to be. All Articles by CompleteMarkets Editor Comments (0 ) A Judge's Perspective The Workers Compensation Fraud Problem This content has not been rated yet. CompleteMarkets Editor , Susan Clark 4/30/2013 12:00:00 AM FRAUDBUSTERS: A JUDGE'S PERSPECTIVE ON THE WORKERS COMPENSATION FRAUD PROBLEM by Susan Clarke Stories of people who claim a work injury after they hurt themselves at home are common. But .. All Articles by CompleteMarkets Editor Comments (0 ) Actuarial Checklist For The Insurance And Risk Management Professional This content has not been rated yet. CompleteMarkets Editor , Al Rhodes 4/30/2013 10:45:23 PM ACTUARIAL CHECKLIST FOR THE INSURANCE AND RISK MANAGEMENT PROFESSIONAL by Al Rhodes The responsibilities of risk managers, risk management consultants, accountants, and brokers increase as insurance.. All Articles by CompleteMarkets Editor Comments (0 ) Agency Financial Planning: Today And Tomorrow This content has not been rated yet. CompleteMarkets Editor , Carol Hammes 4/30/2013 10:35:26 PM AGENCY FINANCIAL PLANNING: TODAY AND TOMORROW by Carol Hammes There can be little doubt that changes are in the wind in the Commercial Property/Casualty marketplace. Some industry observers have.. All Articles by CompleteMarkets Editor Comments (0 ) Agency/Broker Profile ...

... the rates to be charged, and the way the coverage will be coordinated with the methods and levels they have chosen for retention and risk financing. Why should they not expect to have some initial understanding of who will handle their claims, how and by whom and within what legal and ethical parameters their claims will be defended, or some input into when and for how much their claims are settled? This is not to advocate that insurance carriers should abandon the claims discipline to their insureds, any more than they similarly abandon the underwriting discipline. However, as proper underwriting criteria for risk selection and rating differ under the circumstances of different programs or accounts, different market conditions, and different carrier appetites, the procedures and standards that dictate claims practices can also differ and still be proper legally and actuarially. For instance, good claims practice dictates that subrogation from a viable third party, once identified, should always be pursued because the policy provides the carrier that right. But what if the viable third party happens to be an important client of the insured and an attempt to recoup a claim expenditure could interfere with the insured's continuing relationship with that client in the long run? Especially when the insured participates in the ultimate financial exposure for the loss, whether to subrogate becomes not only a claim decision but also a business decision. As another example, cost-effective claims philosophy dictates that small claims even if somewhat questionable, usually be settled early at a nominal cost (commonly called nuisance value) to prevent the need for incurring further investigative and defense expenses. But what if the insured believes that ...

... the rates to be charged, and the way the coverage will be coordinated with the methods and levels they have chosen for retention and risk financing. Why should they not expect to have some initial understanding of who will handle their claims, how and by whom and within what legal and ethical parameters their claims will be defended, or some input into when and for how much their claims are settled? This is not to advocate that insurance carriers should abandon the claims discipline to their insureds, any more than they similarly abandon the underwriting discipline. However, as proper underwriting criteria for risk selection and rating differ under the circumstances of different programs or accounts, different market conditions, and different carrier appetites, the procedures and standards that dictate claims practices can also differ and still be proper legally and actuarially. For instance, good claims practice dictates that subrogation from a viable third party, once identified, should always be pursued because the policy provides the carrier that right. But what if the viable third party happens to be an important client of the insured and an attempt to recoup a claim expenditure could interfere with the insured's continuing relationship with that client in the long run? Especially when the insured participates in the ultimate financial exposure for the loss, whether to subrogate becomes not only a claim decision but also a business decision. As another example, cost-effective claims philosophy dictates that small claims even if somewhat questionable, usually be settled early at a nominal cost (commonly called nuisance value) to prevent the need for incurring further investigative and defense expenses. But what if the insured believes that ...

... success. Agencies ar.. All Articles by CompleteMarkets Editor Comments (0 ) Agent's Checklist: Protecting Your Accounts Against Piracy 1 Verified Reviews - 5 of 5.0 1 2 3 4 5 CompleteMarkets Editor , David Daar 4/30/2013 12:00:00 AM AGENT'S CHECKLIST: PROTECTING YOUR ACCOUNTS AGAINST PIRACY by David Daar Before your accounts get raided, you should consider doing some advance planning. There should be a strategy in place.. All Articles by CompleteMarkets Editor Comments (0 ) How Do Companies Set Their Rates? This content has not been rated yet. CompleteMarkets Editor , Chris Burand 4/30/2013 12:00:00 AM HOW DO COMPANIES SET THEIR RATES? by Chris Burand The market determines the price of gasoline, toys, and cars. The market, not actuaries, determines the price of insurance, too. Chris B.. All Articles by CompleteMarkets Editor Comments (0 ) Make Agency Meetings Productive This content has not been rated yet. CompleteMarkets Editor , Jack Fries 4/30/2013 12:00:00 AM MAKE AGENCY MEETINGS PRODUCTIVE by Jack Fries Have you ever been in a meeting where you didnt know what they were talking about and each minute seemed like an hour? Many.. All Articles by CompleteMarkets Editor Comments (0 ) Poor Company Service: The Antidote This content has not been rated yet. CompleteMarkets Editor , Chris Burand 4/30/2013 12:00:00 AM POOR COMPANY SERVICE: THE ANTIDOTE by Chris Burand Get your companies to listen to you for your mutual benefit. Recent research has revealed that all company ...

... niches is important in good times and bad, and each undergoes changes frequently enough that ongoing expertise is important. Just as important, the client can readily see why these niches are important and can appreciate the need for help. And each of these niches will be permanent needs which will survive any changes which might come in the insurance distribution systems. Further, I believe it will be difficult or impossible for computers to replace personal expertise in these three categories, with the possible exception of employee benefits. Even that will be a long time off because of the need for personal explanations and enrollers. To illustrate, look at a few recent news items. One headline, Thousands of U.S. Employers Eliminate Pension Plans, Making Retirement Difficult For Baby Boomers, ' appeared in the American Academy of Actuaries, June 1992. You don't have to be a niche marketer to identify this pool of prospects; they're everywhere, and you can reach them handily. The article relates that more than 30,000 U.S. employers have terminated their defined benefit pension plans since January 1990, and 39% of these employers have not provided their employees with new pension plans, leaving thousands of American workers without employer-provided pensions. Those people need help in planning and funding their retirement! Another headline, Americans Growing Old And Poor: Unprepared Retirement Picture Bleak, ' appeared in Life Association News, Aug. 1992. Quoting a recent survey by Merrill Lynch, the article reports that the savings crisis is far worse than previously believed and threatens the American dream of building a better life for successive generations. The ...

... noncompete provisions. Sometimes after years of happy cooperation, the Life/benefits producer may leave and take all or some of the shared clients. What went wrong was the lack of a contract governing control of the book of business. Bypassing a formal contract is easy. The time and expense required to put one together and the probability that most local lawyers won't understand insurance well enough to draft an appropriate contract, boilerplate paperwork usually won't suffice, are discouraging factors. And to delay formalizing a contract is also easy, especially when business is waiting to be written and all parties want to get started. But it is not easy to endure the pain and expense when things go wrong. Who better than insurance people should realize that things can go wrong? Every policy handled is based on the actuarial certainty that things will go wrong. And just as owning an insurance policy is worthwhile even if things never go wrong, so is a contract worthwhile even if it's never put to a test. At the very least, get a letter of agreement between the P/C and Life/benefits parties, with a definite date set to formalize the agreement with a contract. If your Life/benefits operation is a separate corporation, then that corporation should have such contracts with its Life producer(s ) . Contracts are necessary regardless of how close, trusting, or loving a relationship exists between the P/C and Life principals. That includes close family members. Consider, for example, that when a party dies, the executor and/or lawyer for the deceased is obliged ...