Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Financial Keyosk Allows Agents to Tap Into Sales of Financial Services
Nov 12 2001 // Financial Keyosk, a growing online financial services solution providing assistance to agents, has come on the scene with the goal of helping agents obtain carrier markets, expand products and make their businesses run...
RSA Reports 9 Month Results Down 36 %, Seeks to Raise Capital
Nov 9 2001 // The U.K.’s Royal & Sun Alliance reported that group operating results were $472 million for the first nine months of the year, compared with $738 million for the same period last year, a 36 percent drop. Most of...
Chubb Removed from CreditWatch
Nov 9 2001 // Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on Chubb Corp. to “AA-” from “AA+”, its preferred stock rating to “A”...
The Hartford Reports Third Quarter Operating Loss of 22 Cents Per Share
Nov 2 2001 // The Hartford Financial Services Group Inc. reported an operating loss of $52 million for the third quarter of 2001, reflecting a $440 million loss related to the Sept. 11 terrorist attack. The results also reflect a $130...
Acceptance Insurance Companies Reports Losses
Nov 2 2001 // Iowa-based Acceptance Insurance Companies Inc. reported an after-tax net loss of $9.5 million, or $0.66 per share, for the third quarter of 2001. The company’s continuing crop insurance operations generated an...
CIGA Bill Gets Approval in Calif. Legislative Session, SB 71 Falls Short
Oct 29 2001 // As the California Legislature wound up its 2001 session in mid-September, two workers’ compensation-related bills awaited their fate on the desk of Governor Gray Davis. AB 1183: CIGA Premium Surcharge In the case of...
A.M. Best Maintains Negative Outlook on SAFECO’s P/C Subsidiaries
Oct 25 2001 // In response to SAFECO’s recently announced loss reserve strengthening, A.M. Best Co. continues to maintain a negative outlook on the property/casualty operations’ financial strength rating of...
Great American® Offers Online Notary Bonds in Utah via ElectronicSurety.com
Oct 25 2001 // Great American Insurance Company now offers notary bonds and error and omission insurance for purchase online in Utah through its ElectronicSurety website. Low rate notary bonds are also available in Texas, Michigan,...
The Midland Company Reports Third Quarter Results
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement. For the quarter ended Sept. 30,...
SAFECO Reports 3Q Results, Strengthens Reserves by $240M
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
Property Insurers to Exclude Acts of Terrorism, and to Price Premiums for Larger Maximum Losses Oct
Oct 22 2001 // Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast...
Ohio Department of Insurance Orders 23 P/C Companies to Pay Up
Oct 18 2001 // The Ohio Department of Insurance ordered 23 property and casualty companies to pay money owed to insurance customers and submit corrective actions plans after market conduct examinations revealed that the companies were...
External Review of Medical Claims by P/C Insurers Could Raise Premiums
Oct 16 2001 // Requiring property/casualty insurers to have medical treatment claims reviewed by third party examiners is unnecessary, counterproductive and could raise the cost of insurance for Iowa consumers, according to the...
Aon to Underwrite Direct Property/Casualty, Reinsurance Coverages
Oct 16 2001 // Aon Corporation will expand its underwriting operations to include direct property and casualty insurance and reinsurance policies, the company announced on Oct. 12. This coverage will be provided in addition to existing...
Golden Eagle Pulls Out of Homeowners Market in California
Oct 15 2001 // San Diego-based Golden Eagle Insurance announced in September that it would cease offering new policies for homeowners and dwelling fire in California. The company also sells insurance in neighboring Arizona, but this move...
Hartford to Raise Equity Towards Sept. 11 Losses; S&P Removes from Watch, Affirms Hartford Financial
Oct 8 2001 // The Hartford Financial Services Group Inc. plans to raise equity capital to replace its estimated $450 million reduction in shareholders’ equity from the World Trade Center disaster of Sept. 11. The company plans to...
NAII Founders Wanted Voice in Creating Public Policy
Oct 8 2001 // Carrying on with business after the tragic terrorist attacks on Sept. 11, the National Association of Independent Insurers (NAII) will hold its 56th annual meeting in New Orleans Nov. 4-7 as scheduled. Speakers at the...
Erie Indemnity Estimates Exposure from National Tragedy
Sep 28 2001 // Erie Indemnity Company announced that its share of catastrophe losses stemming from the tragic attacks of September 11th is expected to amount to between $5.5 and $6.7 million before federal income taxes. The after-tax...
Ohio Director Reminds of New Licensing Requirements
Sep 27 2001 // Ohio Department of Insurance Director Lee Covington issued a reminder Sept. 20 to current property and casualty license holders that beginning Oct. 9, they will no longer be authorized to solicit or sell surety bail bonds...
Liberty Northwest Insurance Corp. Seeks Purchase of Oregon Company
Sep 27 2001 // Liberty Northwest Insurance Corporation has announced the intended purchase, pending regulatory approval, of Oregon Auto Insurance Company, along with its subsidiary North Pacific Insurance Company. As two of the largest...
