Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Study Says Eight Insurers Command 65% Market Share in Hurricane-Prone States
Jul 13 2001 // A recent study by Palm Beach Gardens, Fla.-based Weiss Ratings Inc. indicated that just eight large property and casualty insurers provide homeowners coverage to residents in hurricane-prone states. Weiss Ratings, a...
S&P Revises Outlook on U.S. Personal Lines P/C Industry to Negative
Jul 11 2001 // Standard & Poor’s revised its outlook on the personal lines property/casualty sector (i.e., home and auto insurance) of the U.S. insurance industry to negative from stable. In conjunction with this rating...
CGNU in Partnership Talks with France’s MMA
Jul 9 2001 // CGNU, Britain’s largest insurer, is in talks with the French group Mutuelles du Mans Assurances aimed at establishing a partnership arrangement which would strengthen its position in the French life and pension...
P/C Net Income, Surplus Drop in First Quarter
Jul 9 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office, Inc. (ISO) and...
A.M. Best Study Reports P/C Premiums Show Strong Growth, Earnings Remain Depressed During 1Q 2001 J
Jul 5 2001 // According to an A.M. Best Co. special-report excerpt published in the July 2 issue of BestWeek, property/casualty net premiums written showed the strongest growth since the tail end of the last hard market in the second...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jun 27 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
A.M. Best Affirms Nationwide’s FSRs, Assigns Initial Debt Ratings
Jun 26 2001 // A.M. Best Co. affirmed the A+ (Superior) financial strength ratings (FSR) of the primary property/casualty operations of the Nationwide Group, Columbus, Ohio, as well as its affiliated life insurance companies. In...
A.M. Best Promotes Mosher to Group VP, P/C Rating Division
Jun 21 2001 // A.M. Best Co. Executive Vice President Larry Mayewski announced the promotion of Matthew Mosher to group vice president of the Property/Casualty Rating Division. Mosher succeeds Eric Simpson who accepted a position as...
ONLINE PAYMENTS AN OPTION
Jun 18 2001 // Most of Dallas-based Unitrin Property and Casualty Insurance Group’s customers can now receive and pay their bills online through a system of websites developed and operated by Atlanta’s CheckFree Corporation....
Tillinghast Releases Financial Projection Software
Jun 8 2001 // Tillinghast-Towers Perrin, a provider of risk management services for the financial services industry, announced the release of a new version of its dynamic financial modeling software, TAS:P/C 2001, a core component of...
ERisk and Risk Management Solutions (RMS) to Host P/C iConference Event
Jun 6 2001 // ERisk and RMS announced they will host an hour-long online event for the property/casualty insurance industry on June 7, 2001. ERisk and RMS will overview the latest approaches for measuring risk in terms of economic...
NAII Says Some NAIC Market Conduct Proposals Hit the Mark, Others Need Clarification
Jun 5 2001 // According to the National Association of Independent Insurers (NAII), the National Association of Insurance Commissioners’ (NAIC) proposals to improve the market conduct process for insurance companies meet the goals...
NAMIC Endorses Increase of Small Company Tax Exemption
Jun 4 2001 // The country’s smallest, mostly rural, insurance companies would receive a tax benefit if federal legislation introduced recently becomes law. Reps. Jim Nussle, R-Iowa; Jim Ramstad, R-Minn.; and Earl Pomeroy, D-N.D.;...
Agents Selling Financial Services, Three Texas Agents Discuss Success
Jun 4 2001 // During the last decade, the wall separating the worlds of banking and insurance has crashed down. Banks are buying insurance agencies. Banks are merging with insurance companies. The Independent Insurance Agents of America...
AscendantOne Delivers P&C Rate/Quote Product Suite
May 31 2001 // AscendantOne, announced the availability of its Rate/Quote/Issuance solution for the property/casualty front office. This browser-based front office solution was designed to allow p/c providers to deploy rating solutions...
Winterthur To Buy CGNU’s Belgian P/C Business
May 22 2001 // Winterthur, the insurance arm of Credit Suisse Group, has agreed to purchase CGNU’s Belgian p/c business for €117 million ($102.65 million). The acquisition would make Winterthur the fifth largest Belgian p/c...
Gomez Study Identifies Consumer Adoption Trends for P/C Insurers
May 21 2001 // The Internet delivery of property and casualty insurance products and services is approaching the mainstream, according to a consumer research study released by Gomez Inc., an Internet quality measurement firm. The study...
A.M. Best Report: Asbestos Claims Surge Set to Dampen Earnings
May 21 2001 // The property/casualty industry may be facing a surge in asbestos claims that could cumulatively cost the industry as much as $65 billion. This new estimate of ultimate asbestos-related losses is nearly two-thirds higher...
ACCEPTANCE TO SELL P/C BUSINESSES
May 21 2001 // Acceptance Insurance Companies Inc., an insurance holding company providing agricultural risk management products and services throughout the U.S., agreed to sell two wholly owned insurance companies, Acceptance Indemnity...
GE ERC Moves Facultative Workers’ Compensation to PnC Re Americas
May 18 2001 // Employers Reinsurance Corporation (ERC), a GE company, announced it has moved its facultative workers’ compensation product line to its P&C Re Americas business unit. The P&C Re facultative unit will now be...
