PCI Conference Presentation -The Current Landscape.ppt
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1、PCI Conference Presentation -The Current Landscape2The Current Landscape3Key Stress Factors Economic Uncertainty Job Security Current Administration Change in Standard of Living Fluctuating Stock Prices4Change in Mindset Short-range thinking expected The need to “keep a steady course” “Hunker Down”
2、mentality What will best practices be? Bailout and effect on executive compensation Difficulty in predicting market values of pay Composition of total compensation package Increasing importance of annual incentives Expect irrational, ambiguous and impractical regulations5Areas of Concern Employees K
3、eeping their jobs Maintaining 401(k) value Managing with less pay in current market Understanding how their company is doing Human Resources Retention and workforce reductions Working with smaller budgets Communicating value of benefits Keeping employees informed Working as a strategic partner with
4、Sr. Mgmt.62008 Annual Salary Budget Planning Survey Q1 2009 Update National survey of 350+ companies Industries: Healthcare = 15.6% Financial/Insurance = 15.0% Soc. Service/Foundation = 12.4% Manufacturing/Production = 11.1% Business Services, High-Tech, Retail, Utilities Revenues: 26% $1 billion 26
5、% $100 - $999 million 27% $10 - $99 million 21% $10 million7Whats Happening Now? 2008 Projections 3.8% Merit Increase Salary Reduction-2% Salary Freeze-4% Layoffs in 2009-6.5% 2009 Actual 3.2% Merit Increase Salary Reduction-4.2% Salary Freeze-37.2% Layoffs in 2009-35.1%8Other Responses to Cost Pres
6、sures*October 2008 to February 2009Restrictions on company travel 34% to 69%Reduction of training programs 10% to 35%Increase communication regarding pay 18% to 28%Increase communication regarding benefits 35% to 31%Reduce employer match to 401(k)/403(b) 2% to 12%Watson Wyatt survey, March 20099The
7、P&C Insurance Industry in Crisis10P/C Industry Combined Ratio2001-2008Sources: A.M. Best, ISO, III1 1 5 . 81 0 7 . 51 0 0 . 19 8 . 41 0 0 . 89 2 . 69 5 . 71 0 1 . 29 09 51 0 01 0 51 1 01 1 51 2 02 0 0 12 0 0 22 0 0 32 0 0 42 0 0 52 0 0 62 0 0 72 0 0 8As recently as 2001, insurers paid out nearly $1.
8、16 for every $1 in earned premiums2005 ratio benefited from heavy use of reinsurance2006 was best combined ratio since 1949 (87.6)2007 had relatively low CAT losses2008 affected by cyclical pricing deterioration11Number of Years with Underwriting Profits by Decade*Source: Insurance Information Insti
9、tute*Based on stock companies only671 0845003024681 01 21 9 2 0 s1 9 3 0 s1 9 4 0 s1 9 5 0 s1 9 6 0 s1 9 7 0 s1 9 8 0 s1 9 9 0 s2 0 0 0 sCumulative underwriting deficit from 1975 through 2007 is $422 billion.A record underwriting profit of $31.7 billion was earned in 2006.Underwriting profits were c
10、ommon before the 1980s (40 of the 60 years before 1980 had combined ratios below 100. Not a single underwriting profit was recorded in the 25 years from 1979 through 2003.1212 Most Costly Disasters in US HistorySource: Insurance Information Institute$4.0$5.0$6.0$7.0$7.8$8.2$10.7$10.9$10.9$22.0$22.9$
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