Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
3 New Property/Casualty Insurers OK’d to Do Business in Arkansas
Jul 5 2018 // Three new property/casualty insurance companies have been approved to do business in Arkansas, the state insurance department reported. All three are based in Florida. Counting the recently accepted companies, 10 new...
Burand’s State of P/C Insurance Industry: How P/C Insurance is Becoming Less Valuable
Jul 4 2018 // Value is a relative term often specific to a given asset. For example, if the price of gold declines from $1,800 an ounce to $1,250 an ounce, as it has, then gold is less valuable. The price of property/casualty insurance...
Kemper Completes Acquisition of Specialty Auto Insurer Infinity P&C
Jul 2 2018 // Chicago-based insurer Kemper Corp. has closed on its $1.6 billion acquisition of Birmingham-based nonstandard auto insurer Infinity Property and Casualty Corp. The stock portion of the cash and stock deal announced in...
Rising Homeowners Losses Hurt P/C Insurers: Fitch
Jul 2 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal auto insurance contributed...
Hanover Stone Solutions Appoints Morrissey, Dubois as Senior Advisors in NYC
Jun 29 2018 // Hanover Stone Solutions, an advisory firm providing risk consulting services to U.S. property and casualty and life insurance companies, has appointed Joanne Morrissey and Gary Dubois as senior advisors based in New York...
Citigroup’s Mexico Unit, Chubb Announce Bancassurance Distribution Agreement
Jun 29 2018 // Citibanamex, a subsidiary of Citigroup Inc., and Chubb Seguros México, an affiliate of Chubb Ltd., announced a definitive long-term agreement where Chubb will provide a range of non-life insurance products to...
Gulfstream of Florida Promotes Killingsworth to VP of Sales, Marketing, Agency Licensing
Jun 27 2018 // Gulfstream Property and Casualty Insurance Co., based in Sarasota, Fla., has promoted Mike Killingsworth to vice president of Sales, Marketing and Agency Licensing. In this leadership position, Killingsworth will spearhead...
Here’s a Shocker: Insurance Industry Reserves Still Adequate
Jun 25 2018 // Although analysts at Conning didn’t actually use the word “shocked” in their latest report on the property/casualty industry’s loss reserve position, the title of the report—and the image on the...
Brady to Serve as Chair of the Independent Insurance Agents of Texas
Jun 21 2018 // The Independent Insurance Agents of Texas (IIAT) elected Jeffrey L. Brady of Brady, Chapman, Holland & Associates (BCH) in Houston, to serve as chair for 2018-19. Brady was elected during IIAT’s 121st Annual...
Two P/C Insurance Trade Groups — AIA and PCI — Plan to Merge
Jun 20 2018 // Two leading U.S. property/casualty insurance carrier trade groups are talking about merging. The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) said their respective...
Rising Homeowners Losses Hurt P/C Insurers in 2017: Fitch
Jun 18 2018 // Personal lines underwriting losses rose in 2017 for the fourth year in a row, Fitch Ratings found in a new report. There’s a twist, however. In the three years prior to 2017, personal automobile insurance contributed...
Global Commercial Insurance Market to Grow $170B in P/C Premium By 2021: Aon Inpoint
Jun 18 2018 // Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017, and by 2021, they will rise to nearly $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in...
People
Jun 18 2018 // EPIC Insurance Brokers and Consultants has added risk management and insurance professionals Rose Nordbrock, Jeff Breskin, Pabla Barros and Jose Fuentes to the firm’s operations in Southern California. Nordbrock...
J.D. Power: Why Lemonade’s Policy 2.0 Matters
Jun 18 2018 // Recently insurtech start-up Lemonade launched a product initiative called Policy 2.0. According to Lemonade, it will simplify the language within a standard insurance policy so insureds can easily understand what is and is...
Here’s What’s to Expect for Global Commercial Insurance Market Growth
Jun 8 2018 // Global commercial property/casualty insurance premiums were worth approximately $730 billion in 2017 and by 2021 will rise to almost $900 billion. U.S. commercial P/C insurance premiums were worth $274.5 billion in 2017...
NBIS Partners with Old Republic on Insurance for Heavy Equipment Industry
Jun 5 2018 // NationsBuilders Insurance Services, Inc. (NBIS) has formed a new market partner relationship with Old Republic Specialty Insurance Underwriters. NBIS is adding coverage authorized by Old Republic Specialty Insurance...
People
Jun 4 2018 // Smart Choice has named Chris Reisdorf, formerly of All Risks, to lead the company’s efforts in North Carolina as state director. A 25-year veteran of the insurance industry, Reisdorf has worked in a number of areas...
People
Jun 4 2018 // Doug Slape has been promoted to second-in-command at the Texas Department of Insurance. Slape has been at the agency since 1988 and has served as deputy commissioner for the Financial Regulation Division the past three...
Kemper, Infinity Shareholders Approve Merger
Jun 1 2018 // Kemper Corp. and Infinity Property and Casualty Corp.reported that the companies’ respective shareholders approved proposals related to the agreement announced in February under which Kemper will acquire...
Distribution Overpowers Underwriting. How CNA Ex-CEO Chookaszian Views Industry’s Past, Present and Future
Jun 1 2018 // The former chief executive of an insurance company believes the center of value of the property/casualty industry has shifted away from one of the activities that would seem to define an insurance risk-taking enterprise:...
