National Section

P/C Insurers’ Profit Dipped in Q1

Private U.S. property/casualty insurers’ net income after taxes fell to $13.8 billion in first-quarter 2014 from $14.3 billion in first-quarter 2013. Insurers’ pretax operating income – the sum of net gains or losses on underwriting, net investment income, and miscellaneous …

Insurance Trade Agreements Are Good for Consumers and Markets

You can be sure critics are already getting ready to pounce on a preliminary draft of the financial services section of the Trade in Services Agreement (TiSA), invoking the usual rhetoric about the evils of global trade liberalization. TiSA is …

Independent Agents Drawn to Tablet Applications

Many independent insurance agents say that tablet devices are going to be more important in the next couple of years – particularly for sales presentations and accessing carrier-based training. This is among the many findings in a new national survey …

Declarations

Brewing Brewer “The ruling is especially disturbing given the current influx of illegal aliens, a crisis President Obama created and escalated.” —Arizona Gov. Jan Brewer upset over a U.S. Court of Appeals decision that her state’s policy of denying driver’s …

Uber, Lyft, Sidecar Toe-to-Toe With Insurers State-by-State

The share-and-share-alike attitude considered a virtue by some has become fighting words between ridesharing companies and the insurance industry. “We try not to make it a battle,” says Robert Passmore, senior director of personal lines for the Property Casualty Insurers …

Business Moves

Arthur J. Gallagher, The Plus Cos., Tri-State General Arthur J. Gallagher & Co. has acquired The Plus Cos. Inc. (TPC) in Bridgewater, N.J. Terms were not disclosed. Established in 1985, TPC is a managing general agent and program manager that …

How New Capital is Changing P/C and What To Do About It

As waves of capital reshape reinsurer’s business model, the property/casualty (P/C) insurance industry needs to change, although how remains a matter of debate. Reinsurers face a growing threat from the capital markets — hedge funds, pensions and others that have …

The Strange Case of the Use and Abuse of Insurance Ratings

Ratings, and rating agencies, occupy a contradictory place in many markets – not least in commercial lines insurance and reinsurance. They are very heavily relied on by both buyers and brokers, yet subject to a great deal of cynicism. However, …

10 Things to Know About Earthquakes

The earth’s surface consists of 25 interlocking plates. —National Aeronautics and Space Administration The earth’s plates move at a rate of roughly 2 centimeters per year. —National Aeronautics and Space Administration The largest recorded earthquake in the United States was …

Getting a Grip on Ridesharing Coverage

Ridesharing services are becoming increasingly popular among consumers looking for a more convenient alternative to taxis or other forms of public transportation, and startup ridesharing companies have been cropping up everywhere trying to ride the heels of the success experienced …

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