Articles by Mark Hollmer

P/C Carriers Responding to Commercial Drone Interest

Property/casualty insurers have responded positively to the soaring interest in and use of commercial drones, even as global regulators struggle to keep up with the nascent industry, Marsh said in a report. Some insurers are being so proactive they have …

Insurers Warn Against Encroachment on State Regulation

Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight regarding the unprecedented federal and international intrusion into state insurance regulation,” Kurt Bock, CEO of …

Feds Seek Unified Approach with Insurers to Cyber Threats

The federal government has the backs of insurers and their clients as they seek to protect themselves from, and adapt to, the fast-evolving threat of cyber attacks, Federal Insurance Office Director Michael McRaith assured an industry crowd last month. “We …

Insurance Industry Says Cyber Threat Database Needed

Cyber insurance is one of the fastest growing property/casualty insurance markets. But the sector remains the Wild West of risk prevention, a fast moving target with rapidly-evolving risk portfolios, along with losses and liabilities that remain hard to quantify. Last …

P/C Insurance M&As: Deal Value Up, More to Come

Merger and acquisition activity in the property/casualty industry is increasing in deal value and will likely expand from reinsurers to primary carriers, according to two new industry reports. Deloitte said that the average deal size in the sector grew more …

P/C Insurance M&As: Deal Value Up, More to Come

Merger and acquisition activity in the property/casualty industry is increasing in deal value and will likely expand from reinsurers to primary carriers, according to two new industry reports. Deloitte said that the average deal size in the sector grew more …

Liberty Mutual Reports Q4 Gains Despite Jump in Catastrophes

Liberty Mutual Holding Co. finished out 2014 with gains in net written premium, net income and an improved combined ratio. But catastrophe losses jumped substantially due to costs from a number of severe storms. David Long, the company’s chairman and …

State Farm Reports 2014 Underwriting Loss, Operating Profit

State Farm reported an underwriting loss in 2014, though investment and other income still helped leave it with an operating profit. The insurer’s combined property/casualty underwriting loss landed at $939 million, or 1.7 percent of nearly $57 billion of earned premium. …

Treasury Troubled by Smaller Firms Not Buying Cyber Insurance

While the overall cyber risk insurance market is growing tremendously, larger corporate clients have driven much of the expansion. Smaller companies, on the other hand, have not followed suit, Deputy U.S. Treasury Secretary Sarah Bloom Raskin said recently. “Cyber insurance …

Rating Agencies Warn OneBeacon After Loss Reserve Charge

OneBeacon Insurance Group has been dealt a ratings outlook warning from Fitch Ratings and an outright downgrade from Moody’s Investors Service, stemming from substantial adverse reserve development in the 20914 fourth quarter and fiscal year. Moody’s downgraded OneBeacon’s U.S. Holdings …