Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
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...
CIBC To Sell Property/Casualty Units
Jun 22 2000 // CIBC has agreed to sell its property and casualty insurance companies, The Personal Insurance Company of Canada and CIBC General Insurance Company Limited, to Desjardins-Laurentian Financial Corporation (DLFC), subject to...
I.I.I. Economist Comments on First Quarter 2000 Results
Jun 14 2000 // The property/casualty insurance industry reported a statutory rate of return of 7.0 percent (on an annualized basis) during the first quarter of 2000, down from 10.7 percent in same quarter of 1999 but up from 6.6 percent...
AIG Realigns Property/Casualty Operations
Jun 1 2000 // American International Group has realigned its property/casualty insurance operations in order to serve the needs of U.S.-based companies with international operations more effectively and efficiently. The North American...
Ohio Casualty on WatchNeg
May 29 2000 // The “A” counterparty credit and financial strength ratings on the group of companies known collectively as the Ohio Casualty Insurance Co. Intercompany Pool were placed on CreditWatch with negative implications...
Travelers Property Casualty Launches New Web-based Business System
May 19 2000 // Travelers Property Casualty has launched a new integrated business system for independent agents. The system exceeds the insurance industry’s standard platform by connecting all aspects of sales and service, allowing...
Pimlico Race Course Owners Sue American Casualty
May 17 2000 // Owners of the Pimlico Race Course have filed suit against their insurance company in an attempt to recover what they believe are covered damages. The Maryland Jockey Club of Baltimore City Inc. and Pimlico Racing...
A.M. Best Downgrades Ohio Casualty Group
May 16 2000 // A.M. Best Co., one of the nation’s largest rating agencies, has downgraded the financial strength rating of the Ohio Casualty Group to A (Excellent) from A+ (Superior). The rating change reflects the group’s...
Ohio Casualty Results Down
May 4 2000 // The operating loss was $1.18 per share, excluding one-time items, versus a profit of $11.1 million, or 18 cents per share in the year-earlier quarter. The results fell below analysts’ forecasts of 18 cents per share...
WORKERS’ COMP MARKET OVERVIEW
Apr 3 2000 // CALIFORNIA STILL CRAZY AFTER ALL THESE YEARS By Sky Barnhart “After five years of product being given away, it’s a crazy, crazy market, and it’s put a lot of people on the producers’ side out of...
Privacy Legislation Could Have a Negative Impact on W/C Insurers
Apr 3 2000 // broad coalition of insurance and employer trade associations and companies recently filed comments with the U.S. Department of Health and Human Services on proposed medical records privacy regulations. Insurers argue the...
