Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Moody’s: P/C Insurers’ Losses Under Municipal Bonds Manageable
Nov 22 2010 // U.S. property/casualty insurers are not likely to sustain substantial losses on municipal bonds, Moody’s Investors Service says in a new report. While muni bonds make up a high 27 percent of P/C insurers’...
Best Upgrades Ratings of Zurich’s U.S. Subsidiaries to ‘A+’
Nov 19 2010 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and issuer credit ratings (ICR) to “aa-” from “a+” of the U.S....
Property/Casualty Insurance Premiums Grew Modestly in Q3
Nov 18 2010 // The U.S. property and casualty industry continued to experience modest growth in premiums written while essentially breaking even on underwriting with a calendar year combined ratio of approximately 100 percent, according...
How an E&O Claim Could Affect Agency Employee’s Career
Nov 18 2010 // Today’s soft insurance market, reduced commissions and a tough economy for agency owners and their clients might be adding to agency errors and omissions (E&O) exposures. But agency owners are not the only ones...
Zurich Sells Stakes in Spanish Life and P/C to Unnim
Nov 17 2010 // Zurich Financial Services Group announced that it has entered into a definitive agreement to sell back to Spanish insurer Unnim its 50 percent stakes in the life and general insurance bancassurance companies jointly owned...
P/C Insurer Rules on Medicare, Medicaid Liability Claims Delayed
Nov 16 2010 // Property/casualty insurers will have some extra time to comply with new Medicare and Medicaid liability claims reporting requirements. The Department of Health and Human Services Centers for Medicare and Medicaid Services...
Nationwide Insurance Reports Net Income of $975M
Nov 16 2010 // Columbus, Ohio-based Nationwide Insurance has reported that consolidated net operating income through September 30 was up 39 percent to $975 million. That is compared to $702 million in the first three quarters of 2009....
Insurance Mergers Complicated by Economy, Low Valuations, Hidden Risks
Nov 15 2010 // With organic growth difficult in the current economy and soft market, there could be an increase in insurance industry merger and acquisition activity over the next 12 to 18 months, according to mergers and acquisitions...
Moody’s Rates P/C Personal Lines Industry Financially Sound, Highly Competitive
Nov 15 2010 // The U.S. property/casualty personal lines insurance industry remains financially sound despite the weak economy and prolonged soft, though improving, pricing environment, Moody’s Investors Service says in its new...
People
Nov 14 2010 // J. Michael “Mike” Miley of Indiana-based Gibson Insurance Group was installed as chairman of the Independent Insurance Agents & Brokers of America (the Big “I”). Miley began his insurance career...
3 Ways to Boost P/C Agency Revenues with Life Insurance Sales
Nov 14 2010 // When I was a regional advisor for a multiline insurance company we were always looking for ways to help agents build more profitable agencies. The most successful agents invariably had a system to promote life insurance...
How Insurance Companies Live For 100 Years and More
Nov 14 2010 // Nearly 13 percent of property/casualty insurance companies today are more than 100 years old, which means they have been through two World Wars and the Great Depression. About 62 percent of 100-year-old companies are...
People
Nov 14 2010 // The National Association of Insurance Commissioners (NAIC) elected Louisiana Insurance Commissioner James J. Donelon as Secretary-Treasurer for 2011. Donelon is presently serving on the Executive Committee of the NAIC and...
