Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
S&P Sees High Growth Potential for India’s P&C Market
May 26 2011 // Standard & Poor’s Ratings Services has published a report, which concludes that the Indian non-life insurance sector has “substantial growth potential because market penetration remained low–leaving...
P/C Insurers Facing Record Losses from Weather
May 24 2011 // Devastating tornadoes, floods, earthquakes overseas and a busier-than-usual hurricane season have U.S. insurance companies bracing for record losses in 2011. Insurers could suffer as much as $10 billion from...
Late April Tornadoes Likely to Affect P/C Insurers’ Earnings, Not Capital
May 23 2011 // The deadly outbreak of tornadoes in late April, which generated insured losses estimated at as much as $6 billion, is unlikely to have an immediate impact on property/casualty insurers’ Best’s ratings. The...
State Auto Companies Elect New Officers
May 20 2011 // Kyle B. Anderson, Diane M. Dierna, Winford (Win) L. Logan and Jeffrey (Jeff) D. Wilson have been elected assistant vice presidents by the boards of directors of State Automobile Mutual and State Auto Property &...
Florida Fifth Graders Go on a P/C Insurance Tour
May 20 2011 // During a recent field trip to The Main Street America Group’s corporate headquarters in Jacksonville, Fla., more than 60 fifth graders from Jacksonville’s Woodland Acres Elementary School learned the basics of...
Florida Gov. Scott Signs Property Insurance Cost Control Bill
May 17 2011 // Florida Gov. Rick Scott has signed into law legislation that promises to lower costs for the state’s property insurers, including what they pay on sinkhole claims. While the memory of former Governor Charles...
Submit Today: Top 100 Independent Insurance Agencies
May 17 2011 // Once again, Insurance Journal is on the search for leading privately-held property casualty independent agencies and brokerages for its annual Top 100 Property/Casualty Independent Insurance Agencies report. Top Overall...
Mesirow Financial Formalizes Management of Insurance Services Division
May 17 2011 // Chicago-based Mesirow Financial announced that its Insurance Services Division will be led by a newly formed Insurance Management Committee (IMC). The IMC has named Norman Malter president of the Insurance Division, John...
Best Sees ‘Growing Pressure’ for Higher P/C Insurance Rates
May 17 2011 // There is “growing pressure” to support increased rates in property/casualty insurance and reinsurance markets, rating agency A.M. Best has concluded in its most recent market analysis. As a consequence, Best...
P/C Insurers Take Hit in Q1 as Hurricane Season Approaches
May 16 2011 // The U.S. property/casualty (P/C) industry took a beating from record first quarter 2011 catastrophe losses, and recent earnings announcements from global reinsurers illustrate the damage those losses did to earnings and...
2011 Super Regional P/C Insurers™
May 16 2011 // Demotech Inc. Reveals Leading Multi-State P/C Carriers The original criteria and objective definition for Super Regional P/C Insurers™ was established in the Feb. 12, 2007 issue of Insurance Journal. Prior to the...
Survey: Commercial Lines Prices Fall 3% in Q1
May 16 2011 // Commercial property/casualty pricing declined again with an average decline of 3 percent in the first quarter of 2011. But according to a new industry survey, the pace of pricing declines may be slowing down. The market...
People
May 16 2011 // Rich Poirier, a 20-year insurance industry veteran, was named vice president of claims at Church Mutual Insurance Co. Poirier previously served in senior staff roles at Liberty Mutual Agency Markets Corp. and Wausau...
2011 Super Regional Property/Casualty Insurers™
May 16 2011 // Alphabetical listing Acuity a Mutual Insurance Co. AIU Insurance Co. Alaska National Insurance Co. American Commerce Insurance Co. American Family Mutual Insurance Co. American Hallmark Insurance Co. of TX American...
Outlook Negative but ‘A’ Rating Affirmed for Motorists Insurance Pool
May 13 2011 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of A (Excellent) and issuer credit ratings (ICR) of “a” of The Motorists Insurance Pool (Motorists...
Changes on the Playing Field; P&C Insurers Question Impact of New Regulations
May 11 2011 // The European insurance industry is becoming increasingly aware that the Solvency II regulations, which are scheduled to take effect as of January 1, 2013, will not only impose a different set of rules for the industry, but...
P/C Insurers Cautious About Adopting New RMS Hurricane Model
May 10 2011 // Property/casualty insurers appear to be in no rush to adopt a controversial revised catastrophe model that dramatically raises certain estimates of potential hurricane losses in the country. California-based modeling firm...
P/C Insurer Failures in 2010 Unrelated to Catastrophes: A.M Best
May 10 2011 // The majority of the 11 financially impaired property/casualty companies in 2010 got into trouble primarily due to deficient loss reserves and inadequate pricing. None of the 2010 impairments were directly attributable to...
United Insurance, GreatFlorida Insurance to Provide P/C Coverage in Florida
May 10 2011 // United Insurance Holdings Corp’s., a property and casualty insurance holding company, homeowners, dwelling fire, and flood products will now be sold by agents from GreatFlorida Insurance, a privately held,...
Newins Named Property Casualty Division Director in Kansas
May 6 2011 // Kansas Commissioner of Insurance Sandy Praeger named department veteran Jim Newins as the new Property and Casualty Division Director at the Kansas Insurance Department (KID). Newins began working for KID in 1988 as an...
