Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People
Apr 4 2011 // The Obama administration named Michael McRaith to head the new Federal Insurance Office. McRaith, currently the head of the Illinois Department of Insurance, will run the Federal Insurance Office set up under 2010’s...
Special Report: Top 10 Innovative P/C Insurance Products
Apr 1 2011 // A wave of new product offerings is jeopardizing the property/casualty insurance industry’s image as uncool. Since the beginning of the year, dozens of property/casualty insurers have announced innovative protections...
Shake-Up at AIG’s Chartis; Moor Out, Hancock In as CEO
Mar 31 2011 // American International Group, Inc. (AIG) today announced a reorganization of Chartis, its global property/casualty business, and named a new management team, including a new chief executive officer, Peter D. Hancock,...
Liberty Mutual Authorized to Establish Guangdong Branch
Mar 31 2011 // Liberty Mutual Group announced that, through its wholly owned subsidiary Liberty Insurance Company Limited, it has been granted approval to establish a branch in Guangdong Province by the China Insurance Regulatory...
Insurance Journal Nominated for Four Publishing Awards
Mar 30 2011 // Insurance Journal magazine has been recognized for excellence in magazine publishing, receiving four nominations for Maggie Awards including for best publication and best iPad edition. Known as the “Oscars” of...
EEHall, NIADA to Offer P&C Program to Independent Auto Dealers
Mar 30 2011 // The National Independent Automobile Dealers Association (NIADA) has partnered with Edward E. Hall and Company (EEHall) to offer a nationwide property and casualty insurance program to independent auto dealers. The NIADA...
Florida Insurance Office Announces Staff Changes
Mar 28 2011 // Florida Insurance Commissioner Kevin McCarty announced several staff changes at the Office of Insurance Regulation (OIR). Al Willis has been appointed acting deputy commissioner for Property & Casualty. Willis was the...
Calif.’s Sandin Joins P/C Trade Group AIA as State Affairs VP
Mar 25 2011 // Tracy Sandin has joined the property/casualty insurance trade group, the American Insurance Association, as its new vice president for state affairs and strategic planning. Sandin’s career includes experience in both...
S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed
Mar 25 2011 // Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on...
U.S. P/C Insurers’ Results for 2010 Get ‘Mixed Review’ from A.M. Best
Mar 24 2011 // The U.S. property/casualty insurance industry’s financial results for 2010 represented a mixed bag, with some good results and some that are of concern, according to a leading rating organization. A.M. Best Co....
People
Mar 21 2011 // Baldwin & Lyons Inc., headquartered in Indianapolis, promoted Mark Bonini to executive vice president of sales, marketing and underwriting; Jim Isham to senior vice president of administration; and Craig Morfas to...
XL Insurance Promotes Bruce-Smythe to CUO – Int’l. P/C
Mar 17 2011 // XL Insurance, the global insurance operations of the XL Group, has promoted Gavin Bruce-Smythe to Chief Underwriting Officer (CUO) for its International Property & Casualty business. He previously served as Chief...
Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’
Mar 14 2011 // A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo] is expected to be temporary as the impact on their earnings of the earthquake and tsunami in northeast Japan should be...
RCM&D Buys TRION’s Commercial P&C Division
Mar 10 2011 // Baltimore-based Insurance broker RCM&D acquired the commercial property and casualty insurance division of Philadelphia-based TRION Inc. and has opened a Philadelphia regional office to serve clients throughout...
Heritage Insurance Is First Keystone Agency in Tennessee
Mar 9 2011 // Heritage Insurance Group of Johnson City has become Keystone Insurers Group’s first agency partner in Tennessee. Heritage sells property/casualty, life and health insurance. It has 18 employees in its home office and...
Best Affirms CNA and Subs Ratings
Mar 3 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of CNA Insurance Companies and its P/C members, as well as the ICR of...
State Farm Posts $1.8 Billion Net Income for 2010 Despite Underwriting Losses
Mar 3 2011 // State Farm reported $1.8 billion in after-tax net income in 2010, compared with $800 million in 2009. The improvement “was driven by the P-C companies’ improved results,” said the bulletin, which also...
Best Comments on Impact of Christchurch Earthquake on New Zealand P/C Insurers
Mar 3 2011 // A.M. Best’s London office announced that it “has begun to assess the financial impact of the Feb. 22, 2011 Christchurch earthquake on New Zealand’s non-life insurance industry, and it expects capital...
Tokio Millennium Re Receives Authorization for Australia
Mar 3 2011 // Bermuda-based Tokio Millennium Re Ltd. (TMR), a subsidiary of Japan’s Tokio Marine & Nichido Fire Insurance Co., Ltd., announced that the Australian Prudential Regulation Authority (APRA) has authorized...
Crump Reaches Standstill Agreement with Former Employee, R-T Specialty
Feb 28 2011 // Dallas-based Crump’s Property & Casualty Insurance Services Division (Crump P&C), which is part of insurance wholesaler Crump Group Inc., announced that it has reached a standstill agreement with a former...
