Fireman’s Fund Insurance Company announced it has liberalized its Scheduled Valuable Possessions coverage to afford affluent clients greater convenience and extra protection without extra cost when insuring valuables, such as jewelry, fine art, collectibles, silver and the like. According to …
The Alliance of American Insurers expressed strong disagreement with the American Insurance Association’s (AIA) new position endorsing an optional federal chartering plan for property and casualty insurers. Alliance President Rodger S. Lawson said the Alliance was particularly disappointed with this …
Losses from severe storms will cut into profits for Ohio Casualty Corp. for second-quarter earnings, increasing the loss the car, home and business insurer was slated to report for the quarter. Based in Fairfield, the company reported that catastrophe losses …
Benfield Group and SG, the corporate and investment banking arm of the Societe Generale group, announced the creation of a new insurance vehicle devoted to weather derivatives. The new company (created in Jersey) is called Celsius Insurance Limited and will …
Losses related to auto insurance continue to climb in the Atlantic region of Canada following a report released by The Insurance Bureau of Canada (IBC). According to Don Forgeron, regional vice-president of the IBC, costs continue on the upswing, with …
Seattle-based SAFECO appointed Michael LaRocco, a former vice president with GEICO, as president and chief operating officer of its $2.6-billion SAFECO Personal Insurance business. LaRocco, 44, has more than 20 years experience in the insurance industry. He most recently served …
Newark, Calif.-based Risk Management Solutions (RMS), a global provider of products and services for the management of natural hazard risks, released version 2.4 of the Climetrix weather derivatives trading and risk management system. The new version incorporates numerous enhancements and …
Keane Inc. announced it will make available Application Development and Management (ADM) Outsourcing services to the Personal Lines Division of Great American Insurance Co., which offers a number of auto and personal lines insurance products via a network of independent …
The American Insurance Association (AIA) Board of Directors formally endorsed draft legislation that would allow property/casualty insurance companies to obtain a federal business charter. Although the AIA proposal is designed for primary property/casualty insurance companies, it could be expanded to …
The National Conference of Insurance Legislators (NCOIL) adopted a model bill that calls for states to adopt a use-and-file approach for personal lines rates, in what industry groups are calling a significant victory in the modernization of personal lines regulation. …
