Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Year-End Storms Cloud P/C Insurers’ Profit Picture
Jan 5 2011 // U.S. property insurers like Travelers Cos. Inc. and Chubb Corp. were expecting a relatively mild fourth quarter for catastrophe losses, but a series of punishing storms across the country in December may have blown away...
P/C Insurers Improve Personal Lines, Investment Results in Q3
Jan 4 2011 // The U.S. property/casualty industry generated improved operating results in the third quarter despite competitive market conditions, elevated catastrophe losses, the economic downturn and historically low investment...
Houston International Insurance Sells Southwest Risk to GCP Capital
Dec 29 2010 // Houston International Insurance Group (HIIG) has sold its wholesale insurance broker subsidiary, Southwest Risk LP (SWR), to New York-based, private equity firm GCP Capital Partners LLC (GCP). The terms were not...
Best Affirms USAA and Subs ‘A++’ Ratings; Outlook Stable
Dec 29 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aaa” of Texas-based United Services Automobile Association (USAA) and its...
Texas November Enforcements Result in Nearly $215K in Fines, Restitution
Dec 21 2010 // Enforcement actions taken by the Texas Department of Insurance that became final during November 2010 include 10 license revocations, and fines and restitution totaling $214,632. Copies of Insurance Commissioner Mike...
Best Affirms AIG, Domestic P/C and Life Subsidiaries Ratings
Dec 21 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health subsidiaries of American International Group, Inc. as well as the ICR of...
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 20 2010 // Have you ever wondered what big events helped shape regulation of the current U.S. insurance industry? Or if drivers of certain cars have more risk? What about the most attractive insurance job in the industry? These are...
Top 25 Carriers’ Q3 Premiums Rise Nearly 11.5% in 2010 Versus Q3 2009
Dec 20 2010 // Alexander Hamilton once said, “I never expect to see a perfect work from an imperfect man.” Despite an imperfect marketplace, the Top 25 property/casualty companies continued to improve. Their continued...
How an E&O Claim Could Affect Agency Employee’s Career
Dec 20 2010 // Survey Finds Agencies Take a Second Look at Hiring Employees With Past E&O Histories Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to...
Heffernan Insurance Adds Hight to Commercial Property/Casualty Team
Dec 10 2010 // Heffernan Insurance Brokers has added Melodie Hight in its Portland, Ore., office as a producer in Commercial Property and Casualty Insurance. Hight has more than 20 years in commercial property and casualty insurance. She...
MJ Insurance Adds Brodie, Moore
Dec 7 2010 // Indianapolis, Ind.-based independent agency MJ Insurance announced it has added Tamra Brodie as marketing underwriter in the Employee Benefits Division and BJ Moore as a property and casualty producer in the Construction...
Insurance Industry Outlook Improving, Slightly
Dec 6 2010 // The insurance industry is recovering from the economic crisis, but profits are nowhere near where they were prior to the crisis, and it will take California longer than other states to rebound, according to an industry...
P/C Insurers, Reinsurers Put Positive Spin on Federal Regulatory Role
Dec 6 2010 // The federal government’s new role in insurance regulation poses significant challenges and opportunities for the insurance industry, according to insurer trade group executives. The establishment of the Federal...
Declarations
Dec 5 2010 // Legislate Commissions “After hearing from various interested parties, if HHS does not fix this language before the rule is final, we hope that Congress will step in and revise the MLR formula through the legislative...
Fireman’s Fund Ready to Rally
Dec 5 2010 // Company Progressing on Mass Market Strategy Fireman’s Fund’s financials, like other insurance carriers’, got bruised a little in the first half of 2010, following some heavy catastrophe losses. But...
People
Dec 5 2010 // Oakland, Calif.-based catastrophe risk modeling firm EQECAT Inc. named Bill Keogh president. He will be based in the Hackensack, N.J., office. Keogh previously served as senior vice president of strategic initiatives. He...
XL Insurance Promotes Mc Enery to Sr. VP, Central Region Executive
Dec 3 2010 // XL Insurance has promoted William F. Mc Enery to senior vice president (SVP) and Central Region executive, North America Property & Casualty (P&C). McEnery is based in Chicago. Previously U.S. Middle Market manager...
S&P Revises Outlook on XL Group to Stable; Affirms Ratings
Nov 24 2010 // Standard & Poor’s Ratings Services has revised its outlook on XL Group Ltd. and its subsidiaries to stable from negative. S&P also affirmed its ‘A’ counterparty credit and financial strength...
Insurance Journal Magazine Unveils Android Phone Application
Nov 23 2010 // Insurance Journal, the leading news source for the property/casualty insurance industry, has launched a new Android phone application, that allows readers to view news and multimedia content published on the...
Best Affirms Assurant and Subsidiaries Ratings; Outlook Stable
Nov 22 2010 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the property/casualty and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of...
