Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Unitrin Downgraded by A.M. Best
Dec 16 2002 // A.M. Best Co. downgraded the financial strength ratings of Dallas-based Unitrin Property and Casualty Insurance Group (Unitrin) to “A” (Excellent) from “A+” (Superior) and removed them from under...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
TYLER MAN INDICTED
Dec 16 2002 // John William Tesseyman III of Tyler, Texas was indicted by a Travis County grand jury for activities that possibly left dozens of petroleum product truckers and fireworks display companies without the automobile, liability...
Solvency Study Shows Continued Good Ratings
Dec 16 2002 // The solvency record of the domestic surplus lines industry continues to mirror that of the total property/casualty industry, according to the ninth annual study of the excess and surplus lines industry by the A.M. Best...
Grabbing the Headlines in 2002
Dec 16 2002 // Who made the most “news” as opposed to the most “noise” in 2002? There were lots of candidates, but the ones we’ve selected usually made news because they faced problems or took initiatives...
Ohio Ins. Dept. Introduces P/C Product Requirements Locator
Dec 13 2002 // Holly Saelens, Interim Director of Ohio’s Department of Insurance (ODI), announced the launch of a new “Property & Casualty Product Requirements Locator,” that will provide “a national...
Travelers P&C and AMS Services to Offer Real-time SEMCI Quoting
Dec 13 2002 // Travelers Property Casualty announced it will offer real-time quoting capabilities for small commercial insurance to independent agents with AMS Services Inc. This new capability allows agencies to obtain quotes for...
FMIT Implements INSTEC Solutions
Dec 13 2002 // Commercial property and casualty insurance software provider, INSTEC, announced that the Florida Municipal Insurance Trust (FMIT), has begun using INSTEC’s solution to provide policy rating and issuance on a single...
Economic Factors Fueling P/C Rates; AAI Urges Regulators to Resist Haste to Regulate
Dec 10 2002 // Economic factors such as rapidly increasing claims costs, not some alleged conspiracy aimed at taking advantage of the American public, is driving increases in insurance premiums, according to the Alliance of American...
Texas Man Indicted in Trucking, Fireworks Case
Dec 9 2002 // A Travis County, Texas grand jury indicted John William Tesseyman III of Tyler for fraudulent insurance activities that may have left dozens of petroleum product truckers and fireworks display companies without the...
A.M. Best Affirms Ratings of SAFECO Subsidiaries
Dec 5 2002 // A.M. Best Co. has affirmed the financial strength ratings of A (Excellent) of SAFECO Corporation’s (Seattle) property/casualty and life/health insurance subsidiaries. A.M. Best has also affirmed the...
Acordia of Calif. Names Lucky Assistant VP for Wholesale P/C Sales
Dec 2 2002 // Evelyn Lucky has been named assistant vice president, Wholesale Property & Casualty Sales for Acordia of California. Based in San Francisco, Lucky is responsible for managing a team of three associates whose sales...
S&P Affirms If P&C Insurance Group ‘A-‘ Ratings
Nov 28 2002 // Standard & Poor’s Ratings Services announced that it has affirmed its ‘A-‘ long-term counterparty credit and insurer financial strength ratings on the Swedish insurer If Property & Casualty...
S&P’s Takes off Watch, Lowers Hartford Financial Services Ratings
Nov 28 2002 // Standard & Poor’s has removed from CreditWatch its counterparty credit rating on The Hartford Financial Services Group Inc. and lowered it to ‘A-‘ from ‘A’ because of concerns about...
A.M. Best Lowers Debt Ratings of Chubb
Nov 28 2002 // A.M. Best Co. has lowered the senior debt ratings of The Chubb Corporation, Chubb Capital Corporation and Chubb Executive Risk Inc. to “aa-” from “aa”. The debt issued by Chubb Capital and Chubb...
Unitrin Downgraded by A.M. Best
Nov 25 2002 // A.M. Best Co. downgraded the financial strength ratings of Dallas-based Unitrin Property and Casualty Insurance Group (Unitrin) to “A” (Excellent) from “A+” (Superior) and removed them from under...
S&P Lowers Casualty Reciprocal Exchange Ratings to ‘CCCpi’
Nov 25 2002 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on Kansas City-based Casualty Reciprocal Exchange (CRE) to ‘CCCpi’ from...
Gerling Global – Going, Going, Gone
Nov 25 2002 // Asbestos, the weak equity markets and Sept. 11 have indirectly claimed another victim. Gerling-Konzern Globale Ruckversicherungs—AG (GKG), the reinsurance arm of Germany’s Gerling Group, announced at the end of...
Royal & Sun to Restructure U.S. Operations
Nov 25 2002 // The U.K.’s Royal & SunAlliance Group recently announced its nine-month results and at the same time revealed plans to significantly restructure it’s operations. Royal & SunAlliance USA (R&SA USA)...
MOODY’S EXPECTING MODEST LOSSES FOR P/C INSURERS’ INVESTMENT PORTFOLIOS
Nov 25 2002 // Moody’s reports that further decline is likely for many U.S. P/C insurers’ investment portfolios because of credit losses resulting from exposure to troubled companies. However, in the newly released report,...
