Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Fitch Says Insurers’ Capital Position Is Strong, Issues Stable Outlook
Dec 15 2011 // Fitch Ratings said in its new 2012 outlook report that the P/C insurers’ capital position remains strong. It observed that most P/C insurers have sufficient capital to manage through significant future adversity. The...
N.Y. Consumer Report Accuses Insurers of Needlessly Raising Rates
Dec 15 2011 // A new consumer advocacy report is accusing P/C insurers of ‘colluding’ and needlessly raising commercial insurance rates at a time when U.S. businesses are still reeling from the slow economy. The report,...
Conn.-based W.R. Berkley Promotes Rohde as Senior VP
Dec 15 2011 // W. R. Berkley promoted William Rohde as a senior vice president of the company. Previously he was president of Acadia Insurance Company, W. R. Berkley’s regional operating unit based in Westbrook, Maine. In his new...
Liberty Mutual’s Guangdong Branch Opens for Business
Dec 15 2011 // The Liberty Mutual Group announced that its provincial branch in Guangzhou, Guangdong Province in China has “commenced operations and issued its first insurance policy on December 2, 2011.” Liberty received the...
S&P Sees ‘Highs and Lows’ for Canadian P/C Insurers
Dec 13 2011 // As 2011 winds down, Canadian property and casualty (P&C) insurers can “list some notable lows and highs during the year, including unusually large catastrophe losses from wildfires in Slave Lake, Alta., and...
Do Actuarial Models Influence P/C Underwriting Cycle?
Dec 9 2011 // Property/casualty insurance is noted for the sharp rise and fall of its rates – the underwriting cycle. As actuaries have developed more sophisticated statistical and computer models to help understand complex insurance...
P/C Insurers Lost 900 Jobs in October, Labor Department Data Shows
Dec 7 2011 // Property/casualty insurers lost 900 jobs overall in October, according to latest government data. But insurers in other segments did better. Life insurer employment was up by 1,400. Employment at medical expense insurers...
William Gallagher Associates in Boston Announces Promotions
Dec 6 2011 // William Gallagher Associates, a broker and risk management services provider, promoted Paula Cabral, Karen Cangemi and Meredith McCabe to the position of senior vice president. The brokerage firm also promoted Brendan...
Swiss Re sigma Report Highlights Progress in P/C Product Innovation
Dec 6 2011 // A new sigma report, “Product innovation in non-life insurance,” from Swiss Re underscores the conclusion that there’s “much more to innovation in non-life insurance than people think.” In...
U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion
Dec 5 2011 // Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best...
Parker Named to Head P/C Specialty at Aon’s Global Brokerage Center
Dec 5 2011 // Aon Risk Solutions, the risk management business of Aon Corp, announced the appointment of Mark R. Parker to the position of Director in Aon’s London Global Broking Center’s, International Property and Casualty...
Aon Benfield Reports China Reinsurance Premiums up 70% since 2005
Dec 5 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has launched its China Property & Casualty Insurance and Reinsurance Market Report, which,” it said “reveals the...
P/C Insurers’ Q3 Earnings Declined 70% From One Year Ago: Moody’s
Dec 5 2011 // Property/casualty insurance companies saw their income plummeting significantly in the latest earnings season. Moody’s Investors Service says a group of 23 publicly traded P/C insurers it rates had a whopping 70...
Leading By Creating
Dec 5 2011 // Top 100 Agency Profile Agency Name: Confie Seguros, trading under Freeway Insurance Headquarters: New York, N.Y. Year Founded: 2008 Additional Locations: California, Arizona, Washington, Oregon, Texas, New York, New...
Maryland To Hold Hearing on Insurance Affordability for Coastal Areas
Dec 2 2011 // Maryland Insurance Administration will hold a two-day quasi-legislative public hearing, on Dec. 13 and 14, to discuss the availability and affordability for personal and commercial P/C insurance in coastal areas. Several...
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...
Agency E&O Survey: Why Agents Buy Coverage
Nov 22 2011 // Agency owners have a lot to protect. Of course, first and foremost they must protect their clients. But they must also protect their book of business. They must protect their relationships. They must protect their...
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...
P/C Companies in Northeast Reported Weak Q3 Earnings
Nov 21 2011 // The property/casualty companies headquartered in the Northeast came out with third-quarter earnings – with virtually all companies posting weaker results compared to one year ago. Same phrases came up again and...
