Articles by Mark Hollmer

Assurant to Pick Up Policies as Nationwide Exits Federal Flood Insurance Program

Nationwide will start winding down its status this May as a “Write Your Own” carrier within the federal government’s National Flood Insurance Program. Assurant said it formed an agreement with the insurer to fill the gap. Nationwide said it plans to begin …

CEO Montross to Exit Gen Re at Year’s End; New CEO to Report to Jain, Not Buffett

General Reinsurance Corp. Chairman and CEO Tad Montross plans to step down by the end of 2016, the Berkshire-Hathaway-owned reinsurer said on Tuesday. An eventual successor will report to Berkshire Hathaway executive Ajit Jain, Gen Re spokesperson Sue Johnson told …

Esurance Is No April Fool When It Comes to Free Publicity

Allstate’s Esurance has used the convergence of a volatile and unpredictable election year and April Fools’ Day to have a little fun. The fun is Esurance’s Election Insurance homeowners policy, designed to protect abandoned homes for the next four years …

State Auto Says Corrections Underway After Disappointing 2015

State Auto Financial Corp. ended 2015 with a steep drop in net income and a combined ratio that landed above 100. Executives blamed a bad year for the insurer’s auto lines but added that they’ve taken corrective steps. Net income …

State Auto Says Corrections Underway After Disappointing 2015

State Auto Financial Corp. ended 2015 with a steep drop in net income and a combined ratio that landed well above 100. Executives blamed a bad year for the insurer’s auto lines but added that they’ve taken corrective steps. Net …

Chubb’s Greenberg Confident Most Top Talent, Agents to Stay

Chubb Chairman and CEO Evan Greenberg believes opportunity and incentives will encourage most executives to stay with the insurer in the wake of its recently completed mega-merger. “I don’t kid myself. We’re not going to keep everybody,” Greenberg said during …

CEO Greenberg Confident Most Top Talent, Agents Will Stay with New Chubb

Chubb Chairman and CEO Evan Greenberg believes opportunity and incentives will encourage most executives to stay with the insurer in the wake of its recently completed mega-merger. “I don’t kid myself. We’re not going to keep everybody,” Greenberg said during …

New Travelers CEO Schnitzer Stresses Continuity, Innovation in Earnings Call Debut

The Travelers Companies held its first earnings call under new CEO Alan Schnitzer on Jan. 21 with the property/casualty carrier’s executives putting forth a message of continuity and normalcy, even in the face of a fast-evolving market. Schnitzer, formerly head …

Scottsdale’s Miller Departs to Lead Nationwide’s Venture Arm

Michael Miller, the longtime president and chief operating officer of Scottsdale Insurance Co., has quietly moved onto a new executive role with corporate parent Nationwide, where he’ll manage and spearhead strategic investments for the insurance giant. Miller is the new …

Preliminary Insured Loss Estimate from Texas Tornadoes: $1.2B

Texas is dealing with approximately $1.2 billion in insured losses so far from nine confirmed tornadoes that struck the Dallas metro area on Dec. 26, 2015, and killed 11 people, according to preliminary estimates from the Insurance Council of Texas. The …