Latest Casualty Headlines

Employee benefits offer an easy way to expand business with clients

Oct 23 2006 // It’s a problem many brokers face: clients love our property casualty risk management products and services, but have we given them all they need? What else can we do for them? An employee benefits program offers an...

Mich. Med Mal Insurer FinCor Acquires Washington Casualty

Oct 10 2006 // Lansing, Mich.-based FinCor Holdings, Inc., an integrated risk management corporation serving health care providers and facilities, today announced its acquisition of Issaquah, Wash.-based medical malpractice insurer,...

Trade Group: Mich. Enacts Positive Reforms to Guaranty Fund Coverage

Oct 3 2006 // Michigan recently enacted a series of positive reforms to the Michigan Property Casualty Guaranty Association Act that among many things adds a large deductible provision which clarifies the rights of the receiver and...

P/C Insurers’ Profitability Drops in First-Half of 2006

Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...

Report Identifies Major Risks for P/C Insurers

Sep 19 2006 // Casualty Actuarial Society, ERM Institute International, Ltd (ERM-II), and the CAS/SOA Risk Management Section have released the results of a major research project titled “Enterprise Risk Management for...

Insurers Urge Calif. to Drop Proposed Rate of Return Regulations

Sep 13 2006 // Three property/casualty insurance trade associations urged the California Department of Insurance (CDI) to abandon proposed regulations that would radically change how the CDI reviews and approves insurance company rate...

Medical Liability Insurer Sold by Washington Commissioner

Sep 8 2006 // After operating a major insurer of the Washington’s rural hospitals and medical centers for more than three years under a court order, Insurance Commissioner Mike Kreidler has announced his intent to sell the...

Revenue is King for P/C Insurers, But Bigger Isn’t Better, Study Reports

Sep 6 2006 // A comprehensive study of property and casualty insurance companies in North America, Western Europe and Australia has determined that the top line is more often the bottom line than previously thought. Bain finds that the...

Fitch: P/C Insurers’ Performance Exceeding Estimates for ’06

Sep 6 2006 // The U.S. property/casualty insurance industry showed continued favorable and improved operating performance in the first half of 2006 and, based on first-half results and barring any unusual events going forward, the...

Texas Regulators Announce July 2006 Enforcement Actions

Sep 5 2006 // The Texas Department of Insurance recently announced enforcement actions taken by Commissioner Mike Geeslin that became final during July. The actions include 24 license revocations, one license denial and fines and...

Rates are softening

Sep 4 2006 // As the surplus lines world turns to another year of soft market conditions, specialists and innovators may be the ones to survive as increasing competition intensifies, according to excess and surplus lines brokers,...

Also, Phillip Hill was elected chief financial officer and vice president of operations. Hill has been part of Ogilvy-Hi

Sep 4 2006 // People Ogilvy-Hill Insurance elected Mark Shipp president and CEO. Shipp has been with Ogilvy Hill for 11 years. In addition to his new role as president/CEO he will continue to build new relationships in the field. The...

Grant Joins SWBC as CEO of Property and Casualty Division

Aug 29 2006 // San Antonio, Texas-based Southwest Business Corporation (SWBC) announced that Nick Grant has joined SWBC as the chief executive officer of the Property and Casualty Division in their San Antonio office. As CEO of the...

Casualty & Surety, Inc. announces new National Mining Program

Aug 18 2006 // BIRMINGHAM, Alabama – Casualty & Surety, Inc. (CSI), a specialty MGA, is pleased to announce that it has been granted underwriting authority for a new National Mining Program. “Our carrier is rated...

Infinity Property and Casualty Declares Quarterly Dividend

Jul 26 2006 // Infinity Property and Casualty Corp. of Birmingham, Ala. has declared a quarterly dividend of $0.075 per share of Infinity Property and Casualty Common Stock. The dividend is payable on Aug. 21, 2006 to holders of record...

U.S. property/casualty industry posts record 1Q profits

Jul 24 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio–a key measure...

Jul 24 2006 // People Suburban Chicago-based Property Casualty Insurers Association of America appointed Genio Staranczak as its chief economist. Dr. Staranczak will be responsible for economic analysis on the full range of public policy...

Optional federal charter is needed

Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...

Wis. General Casualty Names New Claims Senior Vice President

Jul 24 2006 // Sun Prairie, Wis-based General Casualty Insurance Companies have named Jim Blair senior vice president of the company’s claims department, replacing Don Suominen who retired in March. Blair has more than 30 years of...

Optional federal charter is needed

Jul 24 2006 // Editor’s note: The following excerpt is edited from an oral statement made by Joseph J. Beneducci, president of Fireman’s Fund at the Senate Banking, Housing and Urban Affairs Committee’s July 11 hearing...