Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
A.M. Best Downgrades Peachtree Casualty Due to Florida Auto Results
Jan 30 2012 // A.M. Best has downgraded the financial ratings of Peachtree Casualty Insurance Co., citing the insurer’s poor underwriting results due in part to rising costs associated with Florida’s troubled no-fault...
Bills Named Colorado Casualty President and CEO
Jan 25 2012 // Centennial, Colo.–based Colorado Casualty has named Lucas J. Bills as president and chief executive officer of the commercial lines company, which operates in Arizona, Colorado, Nevada, New Mexico, Utah and...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
People
Jan 23 2012 // Woodbury, N.Y.-based Sterling & Sterling appointed Leslie Nylund as president of the insurance brokerage. Nylund will be responsible for the firm’s operations, including sales, employee benefits, client services...
Despite Heavy Catastrophe Losses, Top 25 P/C Insurers Report Premium Growth, Net Income Through Third-Quarter 2011
Jan 23 2012 // Amid the continued difficult economic conditions, a heightened frequency of catastrophic events in 2011 has resulted in nearly $40 billion of losses to insurers. The losses associated with these catastrophes have been...
Starr Companies Hires AIG Exec to Lead Defense Base Act Coverages
Jan 20 2012 // Starr Companies has appointed Shane McCaffrey as profit center manager in charge of Defense Base Act and foreign casualty insurance for U.S.-based multinationals. Starr Companies said Defense Base Act and foreign casualty...
Oklahoma’s GHS Property and Casualty Insurance Co. Ratings Downgraded
Jan 19 2012 // A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to “bbb+” from “a-” of GHS Property and Casualty Insurance Co. (GHS), located in...
I.I.I. Survey: P/C Executives Expect Improved Profitability in 2012
Jan 11 2012 // Most property/casualty insurance executives believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, according to a survey from the Insurance Information...
Endurance Promotes Boland to Senior VP in New York Office
Jan 10 2012 // Endurance Specialty Holdings promoted Mark Boland to the position of senior vice president, primary casualty insurance. In his new role, Boland will lead Endurance’s U.S. wholesale primary casualty insurance...
5 Strategies for P/C Insurers for 2012
Jan 10 2012 // The economic uncertainty that plagues buyers of insurance does not bode well for the property/casualty insurance industry, experts are warning. Ernst & Young, the global tax and business advisory firm, said it expects...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
Report: Recent Advances in Casualty Catastrophe Models Help Insurers
Dec 21 2011 // A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The report, released this month, is titled “The Need for Casualty Catastrophe...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 16 2011 // Have you ever wondered how modern-day fire departments began? Or why agents buy E&O coverage? What about when the first business owners policy launched? These are just a few questions that Insurance Journal and Claims...
XL Hires ACE Exec as N.Y.-based President of America Casualty Business
Dec 15 2011 // XL Group’s North America property/casualty unit hired Ken Riegler as president of its North America casualty group. He will be based in New York and report to Seraina Maag, XL chief executive for North America...
Ironshore Names Tracey as VP, Specialty Casualty
Dec 14 2011 // Ironshore Inc. named Tracey Sharis as specialty casualty unit as vice president. Sharis will be responsible for expanding Ironshore’s distribution of retail and construction insurance programs within the United...
Starr Sets up Global Casualty Practice
Dec 6 2011 // Starr Companies has formed a Global Casualty Insurance Practice to provide underwriting for Starr’s general casualty insurance products. The new practice was designed to help continue a focused and consistent...
Haigood to Head Texas Fire and Casualty Insurer Association
Dec 5 2011 // Lyndell Haigood, regional vice president of State Auto Insurance Co., has been elected president of the Association of Fire and Casualty Companies in Texas (AFACT). Haigood was elected during AFACT’s annual meeting...
Insurers Boost California’s Economy by $34.7 Billion
Nov 29 2011 // California’s a $1.9 trillion economy gets a multi-billion dollar boost from the property/casualty insurance industry, according to a report from the Insurance Information Institute issued Tuesday. In 2009, insurers...
Best Affirms Zurich American and Subs ‘A+’ Ratings; Outlook Stable
Nov 22 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Zurich American Insurance Company (Zurich US), headquartered in...
P/C Market to See Only Moderate Changes in Rates in 2012: Willis
Nov 21 2011 // Property/casualty insurance rates will continue to be flat to with some slight increases or decreases in most major and specialty lines of insurance. Some exceptions to that trend include catastrophe-exposed property...
