Morning Briefing: Insurers to get briefing and it is rocket science

Morning Briefing: Insurers to get briefing and it is rocket science | Insurance Business

Morning Briefing: Insurers to get briefing and it is rocket science
Insurers to get briefing and it is rocket science
US and international underwriters are to be briefed on the progress of Space X’s Falcon 9 rockets.

The firm, headed by entrepreneur Elon Musk, plans to extend its satellite-launching capabilities by reusing rockets but it must convince insurers that doing so is safe.

Successful launches have cut insurance rates by almost 50 per cent in the last 2 years, according to an article in the LA Times. 

Jeffrey Poliseno, chief executive of Aon International Space Brokers, who will attend the meetings with insurers said that the cut in rates, now in line with the French rocket Ariane 5, is a “vote of confidence” from the insurance industry.
 
GEICO honors associates’ voluntary service
Two associates of Maryland-headquartered insurance firm GEICO have been recognized for their voluntary work in support of their communities.

Jayna Owen, a continuing unit claims examiner at the firm’s Arizona regional office in Tucson received the John Thorne Corporate Community Citizens (GCCC) Award for her involvement with the Big Sisters/Little Sisters organization.

Meanwhile, Marcia Grady of Hicksville, NY a quality performance underwriter in GEICO's Woodbury, N.Y., regional office, was named the GEICO Volunteer of the Year for her work with the HorseAbility Center for Equine Facilitated Programs.

It’s the 23rd year that the insurer has held the annual awards.
 
Foresters announces end of conferences
Foresters Financial is to end sales-based travel incentive conferences for its independent advisors in Canada. The Toronto-based firm said its Elite Producers’ Conference in 2018 will be the last.

"This decision gives us the ability to best support our clients and agents as the industry continues to evolve," said Robert Baboth, Vice President Canadian Sales, North America Life Insurance and Annuity Division. "It's also an exciting opportunity to redesign how we deliver advisor education and development events."

Recent advice from the Canadian Life and Health Insurance Association was that such conferences could create a “perception of a conflict of interest.”