Insurance Journal » report http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 22 Apr 2014 00:10:12 +0000 en-US hourly 1 http://wordpress.org/?v=3.8.2 NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space http://www.insurancejournal.com/news/national/2014/04/10/326001.htm Thu, 10 Apr 2014 17:00:01 +0000 http://www.insurancejournal.com/?p=326001 Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale insurance broker-NAPCO’s biannual State of the Market: NAPCO Property …

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Cyber Coverage Demand Increased in 2013, Trend to Continue in 2014: Marsh http://www.insurancejournal.com/news/national/2014/04/03/325398.htm Thu, 03 Apr 2014 16:33:04 +0000 http://www.insurancejournal.com/?p=325398 Demand for cyber insurance rose by 21 percent across all industries in 2013 compared to 2012, and early indications in 2014 are that the buying trend is accelerating, according to a Marsh Risk Management Research report. Marsh found that financial …

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Final Report on Joplin Tornado Highlights Communication, Building Standards http://www.insurancejournal.com/news/midwest/2014/04/02/325339.htm Wed, 02 Apr 2014 23:54:14 +0000 http://www.insurancejournal.com/?p=325339 A federal agency’s final report about its technical investigation into the 2011 Joplin tornado calls for nationally accepted standards for building design and construction, and public shelters and emergency communications that the group says can significantly reduce tornado deaths. The …

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California Targeted by Cyber-gangs: Report http://www.insurancejournal.com/news/west/2014/03/21/323925.htm Fri, 21 Mar 2014 16:26:06 +0000 http://www.insurancejournal.com/?p=323925 International criminal enterprises follow the money, and a report  says they are increasingly focusing on California because of its wealth and innovation. Aside from long-time trafficking in drugs, guns and people, the report by California Attorney General Kamala Harris says …

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Federal Report Details Problems at Indiana’s Workplace Safety Agency http://www.insurancejournal.com/news/midwest/2014/03/12/323105.htm Wed, 12 Mar 2014 16:27:57 +0000 http://www.insurancejournal.com/?p=323105 Federal investigators say Indiana’s workplace safety agency mishandled complaints, put its inspectors under strict time constraints and didn’t help whistleblowers. The federal Occupational Safety and Health Administration in a report released made 22 recommendations for improvement at the Indiana Occupational …

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Rate Hikes in California Workers’ Comp: SNL Financial http://www.insurancejournal.com/news/west/2013/12/18/314946.htm Wed, 18 Dec 2013 21:59:33 +0000 http://www.insurancejournal.com/?p=314946 AmTrust Financial Services Inc. hiked rates by 15 percent on its California workers’ compensation business in 2013, and it is not alone. SNL data shows multiple companies took rate during the first half of 2013. The rates used in this …

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Kansas Agency Releases Report on Party Bus Death http://www.insurancejournal.com/news/midwest/2013/12/02/312722.htm Mon, 02 Dec 2013 17:50:34 +0000 http://www.insurancejournal.com/?p=312722 Although a party bus driver insists she properly latched a door from which a Kansas woman fell to her death, Kansas Highway Patrol troopers said in an investigative report released this week they doubted that was possible. Jamie Frecks, 26, …

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Wildfires, Hail Take Toll on Colorado Homeowners Insurance http://www.insurancejournal.com/news/west/2013/07/11/298234.htm Thu, 11 Jul 2013 23:39:06 +0000 http://www.insurancejournal.com/?p=298234 It’s safe to say there’s a lot going on in the homeowners insurance scene in Colorado, where homeowners insurance rates are likely to be on the rise for some time. Insured losses from the recently doused Black Forest fire should …

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Report Recommends Changes at South Dakota Division of Insurance http://www.insurancejournal.com/news/midwest/2013/06/30/297197.htm Sun, 30 Jun 2013 23:20:59 +0000 http://www.insurancejournal.com/?p=297197 A department secretary’s report on the South Dakota Division of Insurance is recommending increased oversight from supervisors and the secretary, better staff communication and a new informal settlement process, state officials said. Gov. Dennis Daugaard earlier this month requested the …

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Hospitals Paid More For Surgeries On Injured Workers: Report http://www.insurancejournal.com/news/national/2013/06/21/296352.htm Fri, 21 Jun 2013 16:14:35 +0000 http://www.insurancejournal.com/?p=296352 A 16-state study shows that in half of the study states hospital outpatient payments for shoulder surgeries in workers’ compensation were at least $2,000 higher than those in group health. The study from the Workers’ Compensation Research Institute is the …

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After Sandy, Underwriters, CAT Models View Northeast Like Southeast: NAPCO http://www.insurancejournal.com/news/national/2013/05/06/291046.htm Mon, 06 May 2013 16:43:21 +0000 http://www.insurancejournal.com/?p=291046 Superstorm Sandy may not have hardened the insurance market, but it has changed the way underwriters view the Northeast, a view that catastrophe models will reflect going forward. According to NAPCO’s Spring 2013 State of the Market Report, underwriters and …

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Best Analyzes Panama’s Competitive Insurance Environment; Solvency II http://www.insurancejournal.com/news/international/2013/01/15/277484.htm Tue, 15 Jan 2013 11:07:40 +0000 http://www.insurancejournal.com/?p=277484 A.M. Best has reported that despite there being “32 insurance companies fighting for market share in the tiny country of Panama; Panamanian insurers are holding their own against their global competitors.” The report appears in this week’s issue of BestWeek …

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Insurance Fraud Allegations Up in Ohio http://www.insurancejournal.com/news/midwest/2012/12/11/273492.htm Tue, 11 Dec 2012 16:55:27 +0000 http://www.insurancejournal.com/?p=273492 Officials say the record number of insurance-fraud allegations in Ohio this year can be partly attributed to better reporting of suspected incidents and difficult economic times that push some people into illegal activity. The Ohio Department of Insurance reports that …

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S&P Report: Reinsurers Discuss Industry Lessons Learned From Hurricane Sandy http://www.insurancejournal.com/news/international/2012/11/30/272288.htm Fri, 30 Nov 2012 11:21:14 +0000 http://www.insurancejournal.com/?p=272288 A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that “reinsurers had three very good quarters until Superstorm Sandy hit the U.S. East Coast on …

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Willis Provides Expertise to UK Government Report on Cat Models/Risk Reduction http://www.insurancejournal.com/news/international/2012/11/28/271916.htm Wed, 28 Nov 2012 11:46:18 +0000 http://www.insurancejournal.com/?p=271916 A bulletin from Willis Group Holdings notes the international broker’s role in providing its expertise for a new UK Government Office of Science Foresight report entitled “Reducing the Risks of Future Disasters: Priorities for Decision Makers.” “Disaster risk reduction needs …

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UN Report: Melting Permafrost Seen as New Peril in Global Warming http://www.insurancejournal.com/news/international/2012/11/28/271914.htm Wed, 28 Nov 2012 11:39:44 +0000 http://www.insurancejournal.com/?p=271914 Permafrost lands across Siberia and Alaska that contain vast stores of carbon are beginning to thaw, bringing with it the threat of a big increase in global warming by 2100, a U.N. report said on Tuesday. A thaw of the …

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Lloyd’s Report Focuses on ‘Gap’ in Disaster Costs and Insurance Coverage http://www.insurancejournal.com/news/international/2012/11/28/271903.htm Wed, 28 Nov 2012 11:18:57 +0000 http://www.insurancejournal.com/?p=271903 A new report from Lloyd’s notes that the “the world has been battered by natural catastrophes in recent years, revealing a serious gap between the economic cost of natural catastrophes and the levels of insured risk.” Recently published research, Lloyd’s …

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Best’s Special Report on Columbia Cites Growth, Regulation http://www.insurancejournal.com/news/international/2012/11/20/271172.htm Tue, 20 Nov 2012 10:41:18 +0000 http://www.insurancejournal.com/?p=271172 A special report from A.M. Best - “Regulation Tightens as Colombia’s Insurance Market Grows and Matures -”notes that “insurance companies operating in Colombia are benefiting from a vibrant, growing economy, the country’s commitment to building infrastructure and helping its industry …

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World Economic Climate Continues to Decline: ICC/Ifo Survey http://www.insurancejournal.com/news/international/2012/11/19/270988.htm Mon, 19 Nov 2012 13:37:48 +0000 http://www.insurancejournal.com/?p=270988 The health of the world’s economy continues to deteriorate as insufficient demand, unemployment and the on-going debt crisis in Europe undermine recovery efforts, according to the latest findings from the ICC-Ifo World Economic Survey (WES). The ICC said that “based …

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Inspector General Report Critical of Louisiana State Fire Marshal http://www.insurancejournal.com/news/southcentral/2012/11/14/270572.htm Thu, 15 Nov 2012 01:55:09 +0000 http://www.insurancejournal.com/?p=270572 A state inspector general’s wide-ranging report on Louisiana Fire Marshal Butch Browning includes a finding that one of Browning’s inspectors failed to detect mechanical problems with a carnival ride in Greensburg hours before two teenagers were injured on the ride …

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Zurich/Advisen Poll Finds Cyber Risk Awareness Increasing http://www.insurancejournal.com/news/international/2012/11/06/269504.htm Tue, 06 Nov 2012 13:03:16 +0000 http://www.insurancejournal.com/?p=269504 A note from Zurich Insurance indicates that the “vast majority of risk professionals say information security and other cyber risks are at least a moderate threat to their organizations,” according to a new survey sponsored by Zurich and administered by …

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Critics Want Ohio Watchdog’s Workers’ Comp ‘Coingate’ Report http://www.insurancejournal.com/news/midwest/2012/10/16/266813.htm Tue, 16 Oct 2012 16:41:50 +0000 http://www.insurancejournal.com/?p=266813 Ohio’s state watchdog hasn’t yet released an investigative report on state’s workers’ compensation fund investment scandal that engulfed Ohio in 2005 — and critics want to know why. With the presidential election only weeks away, the nonprofit government watchdog group …

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Best Reports Italy’s Non-Life Insurance Sector Faces Shifting Landscape http://www.insurancejournal.com/news/international/2012/10/11/266259.htm Thu, 11 Oct 2012 10:46:36 +0000 http://www.insurancejournal.com/?p=266259 The Italian non-life insurance market faces changes as the sector is subject to new legislation and industry consolidation, while the country’s ongoing economic challenges constrain demand for coverage, according to a new report from A.M. Best Co. Best explained that …

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French Non-Life Sector Resilient, Despite Economic Difficulties: Best Reports http://www.insurancejournal.com/news/international/2012/10/11/266253.htm Thu, 11 Oct 2012 10:29:46 +0000 http://www.insurancejournal.com/?p=266253 A new report from A.M. Best notes that the “French insurance market has experienced significant volatility during the past few years, although the non-life sector continues to grow.”  The report comments that while the life market contracted in 2011, gross …

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Best’s Report on Spanish Non-Life Sector Finds Profits, Future Challenges http://www.insurancejournal.com/news/international/2012/10/10/266107.htm Wed, 10 Oct 2012 10:17:33 +0000 http://www.insurancejournal.com/?p=266107 “The Spanish non-life insurance sector remained profitable in 2011, but growth remains challenging, as it continues to face one of the bleakest economic environments since the 1930s,” according to a new report from A.M. Best Co. Best explained that non-life …

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Best Special Report Sees China as a Market in Transition http://www.insurancejournal.com/news/international/2012/10/09/265906.htm Tue, 09 Oct 2012 10:20:33 +0000 http://www.insurancejournal.com/?p=265906 “The Chinese insurance market is in a state of transition: after a period of rapid expansion, the market must now adjust for sustainable and healthy growth,” concludes a special report from A.M. Best. “Since enhancing risk management and market discipline …

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Aon Report Finds Loss of Company Reputation Linked to Crisis Events http://www.insurancejournal.com/news/international/2012/10/04/265477.htm Thu, 04 Oct 2012 12:35:13 +0000 http://www.insurancejournal.com/?p=265477 According to the Aon-sponsored Reputation Review 2012, a report recently issued by Oxford Metrica, an independent analytics and advisory firm, 7 out of 10 companies “measured in the report that were impacted by disasters in 2011.”  They lost “more than …

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Best Reports on MENA Insurance Market; Regulatory Change Coming http://www.insurancejournal.com/news/international/2012/09/26/264379.htm Wed, 26 Sep 2012 11:29:43 +0000 http://www.insurancejournal.com/?p=264379 A report from A.M. Best examines the current state of the insurance market in the Middle East and North Africa (MENA) region. It notes that “over the past decade, the insurance industry has experienced strong growth in terms of premiums. …

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Swiss Re Report Analyzes Rise in Flood Losses – $15 Billion and Counting http://www.insurancejournal.com/news/international/2012/09/06/262024.htm Thu, 06 Sep 2012 10:24:42 +0000 http://www.insurancejournal.com/?p=262024 A new report from Swiss Re underscores the fact the “insured flood losses have increased from $1–2 billion in 1970 to $15 billion in 2011, which it describes as an “alarming rate” while posing “unique challenges for the industry” as …

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Guy Carpenter Report Finds Lloyd’s Seeking to Improve ‘Competitiveness’ http://www.insurancejournal.com/news/international/2012/08/29/261056.htm Wed, 29 Aug 2012 10:16:57 +0000 http://www.insurancejournal.com/?p=261056 A new report on the Lloyd’s insurance market by Guy Carpenter & Co. finds that “Lloyd’s is looking to improve its global competitiveness despite mounting challenges including low investment returns, record catastrophe losses, subdued economic growth in developed markets and …

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