Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
General Casualty Acquires Sixth Regional Insurance Company
Apr 9 2001 // Officials of Sun Prairie, Wis.-based General Casualty Insurance Companies announced the acquisition of Blue Ridge Insurance Company, headquartered in Simsbury, Conn. With this acquisition, Blue Ridge became General...
Sterling Casualty’s ‘BBBpi’ Affirmed
Apr 9 2001 // The “BBBpi” FSR on Newport Beach, Calif.-based Sterling Casualty Insurance Co. was affirmed by Standard & Poor’s (S&P). Cited as major rating factors were the company’s high common stock...
Transit Casualty Co.’s “Titanic” Insolvency Teaches Many Lessons
Mar 5 2001 // It’s been called “the Titanic of all insolvencies”—on Dec. 3, 1985, Transit Casualty Company, domiciled in Missouri, was declared insolvent by the Cole County Circuit Court. During the late ’80s,...
A.M. Best Report Shows Property/Casualty Industry Excess Capital as Blessing, Curse
Feb 16 2001 // The property/casualty industry could return capital to its stakeholders without risking rating downgrades or insolvency, according to A.M. Best Company, which is conducting an ongoing analysis of risk-adjusted...
Northwestern Nat’l. Casualty Affirmed
Feb 12 2001 // The “BBBpi” financial strength rating (FSR) on Northwestern National Casualty Co. (NNCC) was affirmed by S&P. The company primarily underwrites automobile damage and liability coverage for the commercial...
Banks are Moving Full Force Into Insurance World, Survey Says
Jan 15 2001 // A total of 26 percent of all banks nationwide are selling small business property and casualty lines of insurance, and 23 percent plan to do so within the next two years, according to a recent survey. The survey also shows...
AIG Excess Casualty Division Introduces Online Umbrella Tool
Jan 9 2001 // American International Group division AIG Excess Casualty has introduced AIG e-Excess, a new web-based system providing eligible brokers with the ability to receive quote and bind select commercial umbrella coverages...
Banks Moving Full Force Into Insurance, Survey Says
Jan 4 2001 // A total of 26 percent of all banks nationwide are selling small business property and casualty lines of insurance and 23 percent plan to do so within the next two years, according to a recent survey. The survey also shows...
A.M. Best Assesses Excess Capital in U.S. Property/Casualty Industry
Dec 6 2000 // Over the past decade, the U.S. property/casualty insurance industry’s excess capital position has grown dramatically due to slower premium growth, better risk management techniques and significant surplus gains. This...
Ohio Casualty Appoints Carmichael President, CEO
Nov 20 2000 // Dan R. Carmichael, 55, has been named president and chief executive of Ohio Casualty Corp. effective Dec. 12, 2000. Carmichael replaces William L. Woodall, who remains as chairman of the board. Since 1995, Carmichael has...
The Evolving Excess & Surplus Lines Market
Nov 13 2000 // The excess and surplus lines, or non-admitted, market is comprised of property & casualty companies that provide insurance that is unavailable to businesses in the standard, or admitted, market due to the unique...
Mutual Service Casualty Affirmed
Nov 13 2000 // The “BBBpi” FSR on Mutual Service Casualty Insurance Co. was affirmed by S&P. The St. Paul, Minn.-based company is licensed in all 50 states and writes personal and commercial auto, homeowners, inland...
CDI Approves Ohio Casualty’s Prop. 103 Settlement
Oct 26 2000 // The California Department of Insurance has approved a Proposition 103 settlement with Ohio Casualty Corporation, the holding company of The Ohio Casualty Insurance Company. Under the terms of the settlement, the...
Property/Casualty Insurers Watch Profits Fly Out the Window
Sep 25 2000 // ISO, NAII Report First-Half Net Income for Insurers Plunged; Fitch Adopts Negative P/C Outlook It hasn’t gone to hell in a handbasket yet, but the outlook for the property and casualty industry is far from good. On...
Commercial Property/Casualty Rates Continue Upwarde
Sep 18 2000 // Commercial property-casualty rates continued to increase across the country, according to a report by The Council of Insurance Agents and Brokers (CIAB). Through its quarterly Market Index Survey, released last month, CIAB...
Commentary on First Half 2000 Results
Sep 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 5.6 percent (on an annualized basis) during the first half of 2000, down from 8.2 percent during the first half of 1999 and 6.6 percent for...
Fremont General Posts $270 Million Quarterly Net Loss, Announces Strategic Reinsurance Plan
Aug 14 2000 // Fremont General Corporation reported a second quarter net loss of $268,073,000 comprised of a net loss from continuing operations of $270,318,000 and an after tax gain on the extinguishment of debt of $2,245,000. The...
Conning Co.: Property/Casualty Industry Must
Jul 18 2000 // Insurers in the property/casualty sector will not be able to reduce expense levels significantly unless they address their commission and other acquisition expenses, according to a recent Conning & Company...
Kemper Casualty Launches Excess Property Operation
Jul 18 2000 // Kemper Casualty Company has launched an excess property insurance facility providing up to $50 million in capacity to domestic and U.S.-based multi-national, energy, industrial and commercial large risk customers. The...
Ohio Casualty Restructures Avomark, Cuts Jobs
Jun 29 2000 // Ohio Casualty Corp. is restructuring its Avomark Insurance Co. operations, which will result in cutting 114 jobs. The changes are geared to reflect the company’s new Internet-only strategy and will result in an...
