Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Marshall Issues Statement on Oklahoma P/C Rate Board
Nov 4 2002 // The Oklahoma Department of Insurance released the following statement on the work of the DOI’s Property and Casualty Rate Board by John H. Marshall, a member of that board: “Respecting actual insurance premium...
S&P Affirms Groupama ‘A’ Ratings
Nov 1 2002 // Standard & Poor’s Ratings Services announced that it has affirmed its single-‘A’ long-term insurer financial strength and counterparty credit ratings on the French mutual insurance group Caisse...
Moody’s Expecting Modest Losses for P/C Insurers’ Investment Portfolios
Nov 1 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,...
Fitch Places Chubb Corp. on Rating Watch Negative
Oct 29 2002 // Fitch Ratings has placed all ratings of The Chubb Corporation (Chubb) on Rating Watch-Negative. The ratings include the ‘AA+’ insurer financial strength (IFS) rating of Chubb’s property/casualty insurance...
SAFECO Reports Continued Earnings With 3rdQ Net Income Increase
Oct 29 2002 // SAFECO reported continued earnings growth as third-quarter net income increased to $75.2 million, or $0.59 per diluted share. Income before charges and realized gains increased to $86.4 million, or $0.68 per diluted...
A.M. BEST E&S REVIEW REPORTS 35 PERCENT INCREASE IN DIRECT PREMIUM VOLUME
Oct 28 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
DESPITE BETTER PRICING, A.M. BEST REPORTS P/C RATING DOWNGRADES OUTPACE UPGRADES
Oct 28 2002 // The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite...
Demotech’s Financial Stability Ratings – What Are They All About’
Oct 28 2002 // For the past several months, Insurance Journal readers have viewed articles discussing Demotech’s Financial Stability Ratings®. This article presents additional information on the origin of those ratings. Prior to...
ACIC Ratifies Affiliation Agreement with NAII
Oct 25 2002 // The membership of the Association of California Insurance Companies (ACIC) agreed to formally affiliate with the National Association of Independent Insurers (NAII). Under the affiliation agreement NAII assumes...
Agency Ideas® Launches Redesigned Web Site
Oct 17 2002 // Cary, N.C.-based Agency Ideas® announced the comprehensive redesign of it’s flagship website: www.agencyideas.com. “The site is now organized into sections: Sales & Marketing, Cross-Selling, and Producer...
WEISS REPORTS P/C INSURERS POST $5.5B PROFIT IN 1stQ 2002
Oct 14 2002 // The nation’s property and casualty insurers reported a $5.5 billion profit for the first three months of 2002, representing a $260 million, or 4.9 percent, increase over the same period last year, according to Weiss...
LWCC Named One of Ward’s 50
Oct 10 2002 // The Louisiana Workers’ Compensation Corporation (LWCC) was recognized as being one of the top 50 property and casualty insurers in the nation by Ward Group, a Cincinnati-based management consulting firm specializing...
Foremost Mobilehome Insurance Rates to Increase
Oct 10 2002 // Nevada Insurance Commissioner Alice A. Molasky-Arman has approved a mobile homeowners insurance rate change for the Foremost Insurance Company Grand Rapids, Michigan (“Foremost Insurance”), American Federation...
Despite Better Pricing, A.M. Best Reports P/C Rating Downgrades Outpace Upgrades
Oct 8 2002 // The property/casualty industry saw a gain in the number of rating downgrades issued by A.M. Best Co. for the second consecutive year, according to the special report, “Rating Downgrades Outpace Upgrades Despite...
A.M. Best E&S Review Reports 35 Percent Increase in Direct Premium Volume
Oct 8 2002 // The U.S. excess and surplus lines market reported a 35 percent increase in direct premium volume in 2001, according to the “Annual Review of the Excess & Surplus Lines Industry-September 2002,” released by...
CONNING SAYS SMALL P/C INSURERS EXCEL
Sep 30 2002 // While many experts have questioned the continued viability of small insurers, this group actually grew faster than the largest insurers and achieved better underwriting results during the period 1996-2000, according to a...
P&C Net Income Sees 1st Half Surge; Surplus Dips on Weak Investment Results
Sep 25 2002 // The U.S. property/casualty industry’s net income after taxes rose 66.4 percent to $4.6 billion in first-half 2002 from $2.8 billion in first-half 2001, primarily because of improved underwriting results. But the...
AAI Says P&C First-Half Results Could be Better
Sep 25 2002 // The six-month profit increase earned by property & casualty insurers reported recently by A.M. Best Co. is a step in the right direction, but conditions in the industry aren’t as rosy as such improved financials...
Weiss Reports P/C Insurers Post $5.5B Profit in 1stQ 2002
Sep 24 2002 // The nation’s property and casualty insurers reported a $5.5 billion profit for the first three months of 2002, representing a $260 million, or 4.9 percent, increase over the same period last year, according to Weiss...
Patriot Act Final Rules on Money Laundering Exempt P/C Insurers
Sep 20 2002 // The U.S. Treasury Department’s final rules on implementation of the USA Patriot Act exclude property/casualty insurers from specific sections of the law aimed at detecting terrorists’ money laundering schemes...
