Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Mercator and IVANS Partner to Deliver Automated P/C Transaction
Apr 4 2003 // Mercator® Software Inc. and IVANS® Inc. announced an alliance to jointly market a new solution, Mercator InsideIVANSP&C(TM), that will speed the processing of business transactions within the property &...
Vesta Group Downgraded; Co. May Divest Some P/C Units
Apr 1 2003 // A.M. Best Co. said it downgraded the financial strength rating to “B” (Fair) from “B+” (Very Good) of the property/casualty affiliates of Birmingham, Ala.-based Vesta Insurance Group. Additionally,...
S&P’s Report Looks at Changes to U.S. P/C Capital Model
Mar 31 2003 // Standard & Poor’s has published an article that explains the various criteria changes it has made to its U.S. property/casualty insurance risk-based capital model. The changes include a deduction of goodwill...
NAMIC Supporting Small Company Tax Inflation-Adjustment Legislation
Mar 31 2003 // Late last week, Senators Christopher Bond, R-Mo., and Tim Johnson, D-S.D., introduced S. 735, “Small Insurance Company Inflation Adjustment Act,” to amend the Internal Revenue Code of 1986 to clarify the tax...
Swiss Re Reports $66 Million Net Loss for 2002; to Reduce Dividend Payment
Mar 27 2003 // Swiss Re, the world’s second largest reinsurer, didn’t manage to dodge the bullet as successfully as its German rival (see previous article). The Group announced that it expects to post a net loss of SwF 91...
Allianz Launches its first P/C Operation in China
Mar 26 2003 // Germany’s Allianz announced that it has received final approval from Chinese regulatory authorities to launch its first property and casualty insurance operation in China, to be called Allianz Insurance Company...
ABD Ins. Services Makes Executive Level Changes
Mar 26 2003 // California-based ABD Insurance and Financial Services, a provider of global risk management and employee benefits solutions, announced a series of executive level changes. Dan Francis has been appointed to the newly...
S&P’s Affirms Horace Mann Educator Corp. ‘BBB+’ Rating
Mar 25 2003 // Standard & Poor’s Ratings Services said today that it affirmed its “BBB+” counterparty credit rating on Illinois-based Horace Mann Educator Corp. based on its strong financial position and the...
S&P Affirms AIG’s ‘AAA’ Ratings
Mar 25 2003 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘AAA’ ratings on American International Group Inc. and various AIG operating companies. S&P reaffirmed the increasingly rare...
CIAB Study Says Many Commercial Interests Not Buying Terrorism Coverage
Mar 24 2003 // Insurers are offering terrorism coverage, but many buildings, businesses and other commercial interests across the United States are not buying the insurance because they do not consider themselves targets of terrorism,...
P/C INSURERS’ PREMIUMS SURGE $28B IN FIRST THREE QUARTERS OF 2002
Mar 24 2003 // Premiums earned by the nation’s property and casualty insurers surged $27.8 billion, or 12 percent, during the first three quarters of 2002, to $258.7 billion from $230.9 billion during the same period in 2001,...
Infinity P/C Assigned ‘A’
Mar 24 2003 // A.M. Best Co. has assigned a financial strength rating of “A” (excellent) to Infinity Property and Casualty Group, the core auto subsidiaries of Infinity Property and Casualty Corp (IPCC). IPCC was created...
A.M. Best Says P/C Company Impairments Continue to Grow
Mar 24 2003 // The number of insolvencies among property/casualty companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising Number of...
Lost at Sea: Hardening Marine Market Challenges Agents and Brokers
Mar 24 2003 // Marine insurance is, as Insurance Journal put it last year, “a unique animal.” The belly of the beast consists of cargo and yacht coverage, which account for 50 percent of U.S. written premium. But another...
Does the economy drive sub-standard automobile insurance in California’
Mar 24 2003 // Have we finally arrived at the point where the economy is a critical factor in personal automobile insurance? Not quite but it is my opinion that we are closing in. Although insurance company annual statements do not...
Is the Economy Driving the Sub-Standard Auto Market in Texas’
Mar 24 2003 // Have we finally arrived at the point where the economy is a critical factor in personal automobile insurance? Not quite, but it is my opinion that we are closing in. Although insurance company annual statements do not...
AUTO INSURANCE, WORKERS’ COMP EMERGE
Mar 24 2003 // New state laws concerning workers’ compensation and automobile insurance make up the majority of the property/casualty-related insurance laws enacted by state legislatures last year, according to an analysis of...
Zurich to Exit Latvia, Lithuania and Estonia
Mar 21 2003 // Zurich Financial Services announced plans to cease insurance activities in three Baltic States. It has reached a preliminary agreement for the transfer of its insurance portfolios in Latvia and Lithuania to If P&C,...
Infinity P&C Happy with 4th Quarter, Year 2002 Results
Mar 20 2003 // Infinity Property and Casualty Corporation of Birmingham, Ala. today reported earnings of its operations for the 2002 fourth quarter and full year as well as pro forma earnings as though Infinity had been a public company...
FAIR Plan Open to All Texas P/C Agencies
Mar 18 2003 // The Texas Department of Insurance announced that the Texas FAIR (Fair Access to Insurance Requirements) is now open to all licensed property and casualty insurance agencies in the state. The FAIR plan, the state’s...
