Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Balboni to Head P/C Practice at William Gallagher Associates
Nov 25 2009 // Boston-based insurance brokerage William Gallagher Associates (WGA) has named Jamie T. Balboni as the new head of its Property & Casualty Practice Balboni is a principal at the firm with over 25 years of experience in...
Best Affirms Ratings of Assurant and Its Subsidiaries; Several Upgraded
Nov 20 2009 // A.M. Best Co. has affirmed the financial strength ratings (FSR) and issuer credit ratings (ICR) of the P/C and life/health insurance subsidiaries of Assurant, Inc. Best also affirmed the ICR of “bbb” and debt...
Insurance Associations Concerned on Financial Stability Improvement Act
Nov 18 2009 // In an open letter addressed to Barney Frank, the Chairman of the House of Representatives Committee on Financial Services, the largest U.S. insurance trade associations expressed their concerns over the recently passed...
ACE Europe Appoints UK Corporate P/C Underwriting Managers
Nov 17 2009 // ACE Europeannounced the appointment of John Stanway as Corporate Property & Casualty Underwriting Manager for the UK North region and Graeme McGeachie as Corporate Property & Casualty Underwriting Manager for the...
Lacher to Head Allstate’s P/C Division
Nov 17 2009 // The Allstate Corp. has named Joseph P. Lacher, Jr., 40, as president of Allstate Protection, effective November 30, 2009. He will lead all of Allstate’s property and casualty offerings, “serving over 17 million...
People
Nov 15 2009 // Arthur Seifert has joined Southwest Insurance Partners Inc. (SWIP) as chief executive officer of Houston-based Bunker Hill Insurance Agency (BHIA), SWIP’s wholly owned underwriting agency subsidiary. Seifert has been...
Insurance Trades Cast Wary Eyes at Senate Financial Services Bill
Nov 11 2009 // Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to...
Insurance Journal Magazine Unveils iPhone Application
Nov 5 2009 // SAN DIEGO, CA (November 5, 2009) — Insurance Journal, the world’s leading news source for the property/casualty insurance industry, has launched a new iPhone application, that allows readers to quickly view...
A.M. Best Study: P/C Industry’s Risk-Adjusted Capital Fell in 2008
Nov 3 2009 // The U.S. property/casualty industry experienced a 17 percentage point decline in risk-adjusted capitalization in 2008, according to A.M. Best Co., which conducted a four-year study. However, the capital still exceeded...
Q3 Profit Rises at CNA; CEO Motamed Sees ‘Encouraging’ Rate Trends
Nov 2 2009 // CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating...
People
Nov 1 2009 // Eagan Insurance Agency, based in Metairie, La., has added six insurance professionals to its staff. Joining the family business are Andrew Eagan and David Strassel, both members of the fifth generation of the Eagan family...
Agents’ E&O Marked By Stability, Satisfaction
Nov 1 2009 // As Agency Revenues Fell, At Least E&O Previums Didn’t Rise Independent insurance agents have had plenty to fret about the past year, including falling revenues. Thus stability in the market and pricing for their...
XL Cuts Q3 Net Income Loss to $11.4 Million; $246 Million 9-Month Profit
Oct 29 2009 // XL Capital has profited from the old adage that “less is more,” as the Bermuda-based insurer rebounded from a disastrous year in 2008. Although it posted an $11.4 million loss for the third quarter of 2009,...
ACE Limited Posts $494 Million Q3 Net; Conference Call Today
Oct 28 2009 // The Swiss mountain air seems to agree with ACE Limited, as it reported net income for the third quarter of $494 million, or $1.46 per share, compared with $0.16 per share for the same quarter last year, an increase of 813...
Attack on Health Firms Is Assault on All Private Insurance, Warns P/C Chief
Oct 26 2009 // Attacks by President Obama and Congressional Democrats against private health insurers will have a “spillover effect” on other segments of the private insurance marketplace, a property/casualty insurance trade...
