Latest Property Casualty Headlines

Economic Downturn Presents Challenges for Title, Mortgage Industry

Oct 27 2008 // Reserving for mortgage insurance and title insurance in an economic downturn and amid a stressed real estate market can present challenges for insurers and actuaries, attendees at the Casualty Loss Reserve Seminar were...

Property/Casualty Insurers on Government Rescue Funds: No Thanks

Oct 27 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/casualty insurers are...

Hurricane, Investment Losses Cut Into Chubb’s Q3 Profit

Oct 24 2008 // Like many of its property/casualty competitors, Chubb Corp. saw its third quarter profit cut by investment losses and Hurricane Ike but the New Jersey-based insurer still emerged with $264 million in net income, $300...

Towers Perrin Sees P/C Insurer Surplus Decline of 8% for Q3

Oct 22 2008 // The U.S. property/ casualty industry’s reported statutory surplus at the end of the third quarter is projected to decline as much as $42 billion, or 8 percent, from the beginning of the year, according to estimates...

Yates & Associates Names New Business P&C Underwriter/Broker

Oct 21 2008 // Yates & Associates of Tustin, Calif., announced that Denise Plecas will be joining the underwriting department as underwriter/broker – new business P&C. Starting as a receptionist at Hull & Co. in...

Arizona Hosts Insurance Fraud Summit

Oct 21 2008 // The price tag of fraudulent property and casualty insurance claims nationally is about 10 percent of insured losses,” said Ron Williams, executive director of the Arizona Insurance Council. That was one figure that...

Annual Survey Lists Top 10 Ease of Doing Business P/C Insurers

Oct 20 2008 // West Bend Mutual Insurance Company of Wisconsin (No. 1), Central Mutual Insurance (No. 2), Safety Insurance (No. 3), Frankenmuth Insurance (No. 4), and Selective Insurance (No. 5) earned the top five spots when it comes to...

Wisconsin Insurance Commissioner Sean Dilweg

Oct 20 2008 // From tornadoes, hail and flooding to the impact of the AIG bailout and the federal versus state regulation debate, Sean Dilweg has a lot on his plate as Wisconsin’s insurance commissioner. Appointed by Wisconsin...

People

Oct 20 2008 // Angelo Ganguzza, vice president of Boca Raton, Fla.-based LIG Insurance Agency and Kimberly Langston Gray, managing partner of Langston Insurance Agency in central Florida, accepted election to the Professional Insurance...

Oct 20 2008 // Darleen Madden has been elected president of the Independent Insurance Agents of Dallas (IIAD) for a term beginning Sept.1, 2008, through August 2009. Madden is co-owner of Glenn-Madden & Associates located in Dallas,...

Premium Growth: Top 25 P/C Premium Gainers Through Q2 2007

Oct 20 2008 // Vita Sackville (1892-1962) was a British novelist and poet. In 1928, she wrote, “Growth is exciting; growth is dynamic and alarming.” Eighty years later, her description of growth is more accurate than ever....

Texas Orders Nearly $220K in Fines, Restitution in August

Oct 6 2008 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during August resulted in four license revocations, three license denials and fines and restitution...

U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008

Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...

AIG to Keep Its Commercial Property/Casualty Insurance, Sell Some Other Units

Oct 3 2008 // American International Group Inc. said it plans to keep its commercial property/ casualty and foreign general insurance businesses, while selling off some life insurance business and seeking alternatives for its securities...

P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008

Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...

U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008

Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...

Best to Hold Conference Today on Ike, AIG Rating, Other P/C Events

Sep 24 2008 // A.M. Best announced that a number of leaders of its insurance ratings team will address a variety of important property/casualty market issues in an online briefing set for today, Wednesday, September 24 at 9 a.m. Eastern...

Texas Issues Data Call to Insurers in Hurricane Ike’s Aftermath

Sep 23 2008 // The Texas Department of Insurance (TDI) is conducting a mandatory data call for certain information related to claims in the counties of Angelina, Austin, Brazoria, Brazos, Chambers, Cherokee, Fort Bend, Galveston, Gregg,...

CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations

Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...

Fitch: P/C Profits Decline Sharply in First-Half 2008

Sep 22 2008 // The U.S. property/casualty insurance industry reported mixed results in the first six months of 2008. Profitability declined due to poor investment performance and deteriorating accident-year underwriting results, which...