Latest Property Casualty Headlines

Texas P/C Symposium to Feature Former La. Commissioner

Jul 7 2006 // Former Louisiana Insurance Commissioner John Wooley will be the luncheon speaker at the 14th annual Mid-Year Property & Casualty Insurance Symposium in Austin, Texas, on July 13. Wooley served as commissioner during...

S&P Reports on Danish P/C Sector

Jul 6 2006 // A new report from Standard & Poor’s Ratings Services – “Non-Life Insurance Industry Risk Analysis: Denmark {Kingdom of}” – concludes that economic and industry risk are moderately low in...

News Briefs

Jul 4 2006 // EU Leaders Fiddle While Europe Burns: The crisis in the European Union, provoked when French and Dutch voters rejected the EU Constitution, is being largely ignored by Europe’s leaders. Instead of a bit of...

Federal insurance antitrust exemption: Insurer, consumer friend or foe?

Jul 3 2006 // Congress opened debate on the insurance industry’s exemption from federal antitrust laws, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory reform that would...

Things that should keep you awake at night

Jul 3 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...

Federal insurance antitrust exemption: Insurer, consumer friend or foe?

Jul 3 2006 // Congress opened debate on the insurance industry’s exemption from federal antitrust laws, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory reform that would...

Texas Enforcement Actions in May Result in More than $224K in Fines

Jun 30 2006 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during May. The actions include eight license revocations and fines and restitution totaling...

Fidelity National P/C Acquires Southern Family Flood Fla. Policies

Jun 28 2006 // Fidelity National Property and Casualty Insurance Co. has received approval from the Circuit Court of Florida to purchase all of the existing flood insurance policies of Southern Family Insurance Co. through the Florida...

U.S. P/C Industry Posts Record 1Q Profits; Net Gain on Underwriting Rises Nearly 21%

Jun 28 2006 // The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key...

Sandusky Joins MHBT as P/C Account Executive

Jun 27 2006 // McQueary Henry Bowles Troy LLP (MHBT), based in Dallas, announced that Jeremy Sandusky has joined the firm’s Dallas office as account executive in the property and casualty group. “We are pleased to welcome...

Federal Insurance Antitrust Exemption: Insurer, Consumer Friend or Foe?

Jun 22 2006 // Congress opened a fresh debate on the insurance industry’s exemption from federal antitrust laws this week, with some larger insurers indicating a willingness to relinquish the exemption in exchange for regulatory...

Best Upgrades ‘PD’ Ratings of 12 Canadian P/C Insurers

Jun 20 2006 // A.M. Best Co. has upgraded the public data (pd) financial strength ratings of 12 property/casualty Canadian insurers. The bulletin noted that “pd ratings are based solely upon public information and present the most...

Citizens’ Reps Appeal to Florida Agents for Help, Cooperation

Jun 20 2006 // Citizens Property Insurance Co. officials recently told agents meeting in Orlando that Florida’s insurer of last resort is “as ready as they are going to be,” to face the 2006 hurricane season. Paul...

Things that should keep you awake at night

Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...

Jun 19 2006 // People PMA Insurance Group has promoted Elaine Manchon to assistant vice president for commercial markets underwriting. Manchon, who will join PMA’s corporate headquarters staff in the company’s Blue Bell,...

Things that should keep you awake at night

Jun 19 2006 // The integration of the U.S. insurance market and global financial market will have a profound impact on business, according to Dave Zwiener, president and chief operating officer of Property and Casualty Operations for The...

New Property and Casualty Insurer Opens in Irving, Texas!

Jun 16 2006 // Irving, Texas – A new Property and Casualty insurer, Homeowners of America Insurance Company, has opened in Irving, Texas. Homeowners is a Texas company specializing in protecting residential property for Texans. In...

AXA, Credit Suisse Agree on $10 Billion Winterthur Sale

Jun 14 2006 // This time around the AXA Group and Credit Suisse lost no time in coming to an agreement to sell Winterthur, the Swiss bank’s insurance division, to the French insurer for CHF 12.3 billion (around $10 billion –...

Best Affirms AXA Canada P/C Subsidiaries Ratings; Revises Outlook to ‘Stable’

Jun 14 2006 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of several of AXA Canada Inc.’s property/casualty insurance subsidiaries, as follows: the FSR of “A” (Excellent) of AXA Assurances Inc....

Windstorm Insurance May Be Problem as Hurricane Season Begins

Jun 12 2006 // U.S. commercial real estate (CRE) values in coastal areas, and in particular smaller multifamily properties, may suffer as insurance companies reduce loss exposure to hurricane-prone areas by increasing premiums, raising...