Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People
Apr 17 2006 // Palisades Safety and Insurance Management Corporation, a New Jersey private passenger automobile insurer, announced that Ed Fernandez has assumed the role of president and CEO, effective immediately. Fernandez succeeds...
10 Deadly storms hit Midwest again in new round of tornadoes
Apr 17 2006 // Claim counts include March and April storms N1 U.S. tort costs reach a record $260 billion, study reports Cost exceeds other countries’ by large margin N1 Private companies at increased risk of liability...
People
Apr 17 2006 // Atlanta, Ga.-based BrightServ has appointed Michael Frank senior vice president, Insurance Services. His responsibilities include overseeing client requirements, managing client contractor programs and BrightServ processes...
Closer Look: Insurance Associations
Apr 17 2006 // Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the...
Tim Summers
Apr 17 2006 // People Pacific Specialty Insurance Co., Menlo Park, Calif., promoted Tim Summers to chief operating officer. Summers will continue his duties as executive vice-president and corporate secretary, overseeing the product...
CBIZ Acquires Burnham, Colman, Kaelin and Walker Insurance Agency
Apr 12 2006 // CBIZ, Inc. today announced that it has acquired Burnham, Colman, Kaelin & Walker of St. Joseph, Mo. effective April 1, 2006. Originally founded in 1899 and with offices in St. Joseph and Kansas City, BCK&W is an...
Fitch Removes AIG and Subsidiaries from Negative Watch
Apr 11 2006 // Fitch Ratings has affirmed and removed from its Rating Watch Negative all of its ratings on American International Group, Inc. (AIG) and subsidiaries. Fitch originally placed AIG on Rating Watch Negative in March 2005. In...
Insurance Industry on Solid Financial Footing, But Overall Results Mask Problems in Certain Lines, Locations
Apr 10 2006 // The property/casualty insurance industry will report an increase in its capital base and an overall profitable performance in 2005, enabling it to meet the insurance needs of the growing U.S. economy, according to...
S&P Announces Revision in Assessing P/C Cat Risks
Apr 7 2006 // Standard & Poor’s Ratings Services announced that it has revised its criteria for measuring the catastrophe risk of primary P/C insurance companies, according to an article published today. The article, which is...
Senators Introduce Optional Federal Charter Legislation
Apr 5 2006 // Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators today unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation...
Measuring Risk: Insurers’ day of reckoning arrives
Apr 3 2006 // The threat of more natural disasters could make 2006 a watershed year in how the insurance industry measures risk. With American carriers revamping their reporting and management structures, insurers are expected to...
When insurers play the ratings game
Apr 3 2006 // Publicly traded property casualty insurance companies must serve many masters. To be competitive in the marketplace, they must offer products that meet the needs of consumers, at prices that are competitive with the...
When insurers play the ratings game
Apr 3 2006 // Publicly traded property casualty insurance companies must serve many masters. To be competitive in the marketplace, they must offer products that meet the needs of consumers, at prices that are competitive with the...
Fitch: Deterioration in profits for U.S. P/C sector
Apr 3 2006 // The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is...
Kristin Wall
Apr 3 2006 // Louisiana Workers’ Compensation Corporation named Kristin Wall, president and chief operating officer, to replace Steve Cavanaugh as chief executive officer. Cavanaugh tendered his resignation at the March 16 Board...
Measuring Risk: Insurers’ day of reckoning arrives
Apr 3 2006 // “The ultimate objective is for an insurer is to use an ERM framework to better understand and manage the correlation and diversification of risk across the company and uses this information to determine overall risk...
The pre-bindingdisclosure reveals the standard commission Zurich pays agents by type of policy and
Apr 3 2006 // outlines any contingency compensation arrangements. News Currents Zurich agents caught in compensation disclosure web Insurer agrees to nationwide compensation disclosure along with payments of $325 million in two...
Financial Commentary
Apr 3 2006 // Do under-reserved property/casualty insurers deserve high ratings? Publicly traded property casualty insurance companies must serve many masters. To be competitive in the marketplace, they must offer products that meet the...
Fitch: Deterioration in profits for U.S. P/C sector
Apr 3 2006 // The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is...
Actuaries Estimate Cost of Terrorist Attacks on Cities; N.Y. at $778 Billion; D.C. at $196.8 Billion
Mar 31 2006 // The American Academy of Actuaries disclosed that a future large terrorist attack in New York City could result in $778 billion in insured losses. Speaking at the National Association of Insurance Commissioners public...
