Dramatic improvements in underwriting performance by the nation’s property/casualty insurers led to the first underwriting gain in nearly seven years, according to the Jupiter, Fla.-based financial analysis firm Weiss Ratings Inc. The industry reported a $5.5 billion net underwriting gain …
The Property Casualty Insurers Association of America (PCI) and the Insurance Institute of Indiana recently filed an amicus brief in The City of South Bend, Ind. vs. Century Indemnity Company, et. al., to be heard by the Indiana Court of …
Ohio’s auto thefts decreased about 2 percent from 2002, according to estimates released by the Ohio Insurance Institute (OII), a property/casualty trade group. Based on auto theft survey results of 17 major Ohio city police departments and data from the …
St. Paul Travelers Cos. announced that it estimated losses from Hurricane Charley to be about $140 million, after tax and reinsurance. St. Paul Travelers’ commercial book of business saw about $79 million in losses, the specialty lines about $35 million, …
Michigan Office of Financial and Insurance Services (OFIS) Commissioner Linda A. Watters announced that new rules designed to help protect the security and confidentiality of insurance companies’ customer information took effect Aug. 24. The rules establish standards for the companies’ …
Preliminary reports from insurers indicate that Hurricane Frances will produce significantly more claims than Hurricane Charley, but the average claim will not be as high, according to the Des Plaines, Ill.-based Property Casualty Insurers Association of America. “Early reports indicate …
Farmers may lose millions of dollars in insurance payments for their sprout-damaged wheat because of widespread mistakes in sampling their crop at Kansas grain elevators, state officials said. Kansas Agriculture Secretary Adrian Polansky, in a letter to Agriculture Secretary Ann …
During a recent confab at Wells Publishing Inc.’s lovely San Diego headquarters, the Insurance Journal editorial team had a lively discussion regarding the future of this very page. We met in part to discuss the future look of the magazine, …
Even before Charley and Frances, insurers were fleeing the homeowners market for high-risk properties at an alarming pace. Over the last several years, large catastrophe and mold losses have caused a number of insurers to dramatically trim, and in many …
From Concord, New Hampshire comes a tale about a laboratory, a lawyer and an alienated family. It resulted in a lost lab, a legal mess—and questionable conduct by the lawyer, according to the state Supreme Court recently. It began in …
