Latest Property Casualty Headlines

Keystone Insurers Group Adds 2 Agencies in Kentucky to Network

Jan 12 2010 // C.M. Moore Insurance of Bowling Green and Al Torstrick Insurance of Lexington will be the first franchises in Kentucky for Keystone Insurers Group (KIG), the nation’s sixth largest privately-held property/casualty...

West Virginia Court Sides with Insurer on Antitrust Claim by Cancelled Agent

Jan 10 2010 // An insurance company has won a victory over one of its former West Virginia agents who claimed the insurer violated state antitrust law when it cancelled his contracts to sell its life and property/casualty products. The...

Liberty Mutual Receives China Approval to Open Zhejiang Branch

Jan 7 2010 // Liberty Mutual Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), has been granted approval to establish a branch in Zhejiang by the China Insurance Regulatory Commission (CIRC). Liberty...

CNA Chief Motamed: What’s Ahead for CNA, Economy, Industry

Jan 6 2010 // After 30 years at Chubb Corp, Thomas Motamed joined Chicago-based commercial lines insurer CNA Financial in January 2009 as chairman and CEO. In this edited interview with Insurance Journal’s Andrew Simpson, Motamed...

Dec 30 2009 // Insurers contributed $30.1 billion to California’s gross state product in 2007, accounting for about 2 percent of the state’s gross domestic product, according to a new report written by the Insurance...

Rocky 2009 Leaves P/C Agents Hoping for a Better 2010

Dec 29 2009 // Once again, agents and brokers are wishing for a harder insurance market in the New Year. But while most agents hope for firmer insurance pricing in 2010, just slightly more than a quarter (26.9 percent) predict a harder...

P/C Industry’s Net Income Up; Combined Ratio at 100.7 for Q3

Dec 22 2009 // Private U.S. property/casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 percent decline to $4.4 billion through nine-months 2008 from $49.6...

AIG Halts Efforts to Sell Chartis Shares to Focus on P/C Unit’s Growth

Dec 22 2009 // American International Group Inc. has halted efforts to sell a stake in Chartis, as Chief Executive Robert Benmosche focuses on expanding the property and casualty unit, a person familiar with the situation said...

Farm Bureau Mutual Moving Forward with Mutual Holding Company Plan

Dec 21 2009 // Both the policyholders of Farm Bureau Mutual Insurance Company and the Iowa Insurance Commissioner now have approved plans under which the company will be reorganized into a mutual holding company structure. The plan of...

Best Analyzes AIG; Affirms Most P/C, L&H Ratings; Outlook Negative

Dec 21 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of most P/C life/health insurance subsidiaries of American International Group, Inc., as well as the ICR of “bbb”...

Truth or Lore? Insurance ‘Factorama’ Explores the Known and Little-Known

Dec 20 2009 // It’s the end of the decade that apparently has no name as yet, but that doesn’t stop those of us at Insurance Journal from looking back at the past 10 years and beyond for known and little-known insurance...

P/C Industry Certain to Face Uncertainty in 2010 and Beyond

Dec 20 2009 // The insurance industry may not see a return to relative stability and certainty for a few years as it reacts to the effects of regulatory reform, increased government intervention and potential tax law changes in the...

Rocky 2009 Leaves P/C Industry Hoping for a Better 2010

Dec 20 2009 // Agents Wish for Firmer Prices, Better Economy and Market Stability in New Year Once again, agents and brokers are wishing for a harder insurance market in the New Year. But while most agents hope for firmer insurance...

2009 P/C Insurance Mergers, Acquisitions Large and Small

Dec 20 2009 // Large insurers AIG, Farmers and The Hartford made moves in 2009, as did large brokers Marsh, Aon, Willis, Gallagher, Brown & Brown, Hub and Wells Fargo. So, too, did, many regional insurers and Main Street agencies....

Best Affirms Swiss Re and Subs ‘A’ Ratings; Outlook Stable

Dec 15 2009 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a+” of Swiss Reinsurance Company Ltd. and its subsidiaries. Best also affirmed...

Aon: P/C Market and D&O Market to Further Stabilize in 2010

Dec 10 2009 // Property, casualty and directors’ and officers’ (D&O) liability insurance rates will continue to stabilize in 2010, according to Aon Corp.’s U.S. Q3 ’09 Quarterly Market Overview. Highlights of...

P/C Insurers’ Asbestos Losses Down

Dec 7 2009 // A.M. Best Co. has revised its view of the U.S. property/casualty industry’s ultimate asbestos and environmental (A&E) losses downward to $117 billion from $121 billion. Asbestos exposures now are estimated at...

People

Dec 6 2009 // Monte Stringer, executive vice president with U.S. Risk Inc. in Dallas, has been elected president of the Texas Surplus Lines Association Inc. for the coming year. Stringer and other new officers and directors of the...

West Virginia Court Sides with Insurer on Antitrust Claim by Cancelled Agent

Dec 4 2009 // An insurance company has won a victory over one of its former West Virginia agents who claimed the insurer violated state antitrust law when it cancelled his contracts to sell its life and property/casualty insurance...

Passionate About Insurance and Writing? This May Be Your Opportunity

Dec 3 2009 // Insurance is one of the most important industries in the U.S. and other nations. This is not hyperbole; without insurance, we couldn’t enjoy much of the stuff to which we have grown accustomed: jobs, homes, cars or...