Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Seeman Holtz Acquires Houston Agency’s Marine, Motorcycle Business
Apr 26 2018 // Seeman Holtz Property & Casualty Inc., based in Boca Raton, Florida, has acquired the marine and motorcycle insurance business of Elton Porter Insurance Agency in Houston, Texas. Members of the Elton Porter sales and...
‘Best Pricing in Quite Some Time’ Helped Chubb Weather Catastrophes for Solid Q1
Apr 25 2018 // Despite higher catastrophe losses, Chubb Limited reported a solid first quarter with net income of $1,082 million, about the same as the $1,093 million it achieved for the same quarter last year. Core operating income was...
N.Y. Updates Insurance Company Disaster Response, Recovery Plan Requirements
Apr 25 2018 // The New York Department of Financial Services (DFS) has issued updated disaster response and recovery plan requirements for all insurance companies licensed to conduct business in New York state. It issued these updated...
Sompo International Receives Luxembourg OK for Post-Brexit P/C Subsidiary
Apr 23 2018 // Bermuda-based property/casualty insurer and reinsurer Sompo International Holdings Ltd. said it has received the regulatory approvals from the Ministry of Finance of Luxembourg to establish a new subsidiary, SI Insurance...
Jimcor Agency Announces Two Additions to Western Pennsylvania Team
Apr 19 2018 // Jimcor Agency Inc., an independent managing general agent and insurance wholesaler, has hired Sarah Warner as a property and casualty underwriter for the Western Pennsylvania office located in Pittsburgh, Penn, and Stefan...
Florida Agency Owner Arrested Over $62K Premium Fraud Scheme
Apr 19 2018 // An insurance agency owner in Florida has been arrested after he admitted to stealing more than $60,000 in insurance premiums, according to a statement from the Florida Department of Financial Services (DFS). Michael...
Reinsurance Capacity Remains Abundant for Mid-Year Renewals: Aon Benfield
Apr 18 2018 // Global reinsurer capital continued to rise in 2017, despite the US$136 billion in insured losses from natural catastrophes last year, according to a reinsurance market report published by Aon Benfield. Indeed, capital...
2018 Young Agents Survey: Straight Talk From Young Agents
Apr 16 2018 // Young agents want change. They want more diversity in the agency sales ranks. They want better paths to grow in their careers. They want other agents to adhere to professional standards and ethics. They want faster and...
People
Apr 16 2018 // SIAA (Strategic Insurance Agency Alliance) has hired Gretchen Klemm as a contracts compliance manager at its Hampton, N.H., location. In this role, Klemm will manage day-to-day interactions with independent agency members...
Cal Inspection Bureau, Legacy P&C Form Nationwide Premium Audit Firm
Apr 12 2018 // Cal Inspection Bureau of Tarzana, California, and Legacy P&C of Camden, South Carolina, have formed a new firm offering premium audit services to insurers for commercial accounts nationwide. The joint firm has been...
Insurance Wholesaler Socius Insurance Services Opens Dallas Branch
Apr 11 2018 // Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, has opened a branch in Dallas — its first in Texas. Assistant Vice President of Property and Casualty Chris Barnes will...
Sompo Int’l to Form Retail Insurance Platform to Integrate International Businesses
Apr 10 2018 // Sompo International Holdings Ltd., a Bermuda-based specialty provider of property and casualty re/insurance, announced it will establish a retail platform designed to integrate all the operations of Sompo Holdings Inc....
Seeman Holtz P&C Acquires Federal Employee Insurance Business in Oklahoma
Apr 6 2018 // Seeman Holtz Property & Casualty Inc. has acquired the federal employee insurance business of Federal Employee Services LLC in Edmond, Oklahoma. Federal Employee Services provides coverages to both civil service and...
Wawanesa Mutual Names Jardine President of Canadian P/C Operation
Apr 6 2018 // Wawanesa Mutual Insurance Co. announced the appointment of Carol Jardine as president of Wawanesa’s Canadian property and casualty (P/C) operation. Prior to her appointment, Jardine was senior vice president and...
Everest Insurance Launches Private Company Management Liability Policy
Apr 6 2018 // Everest Specialty Underwriters (ESU), a division of Everest Insurance, has launched Everest Expedition, a private company management liability policy. This new modular management and professional liability policy is...
People
Apr 2 2018 // Global loss adjusting firm McLarens has promoted Susan Froman to senior vice president of Business Development – The Americas. Froman joined McLarens three years ago to recruit and establish the domestic business...
P/C Insurers Record $23.5B in Underwriting Loss in 2017
Apr 2 2018 // The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The...
BHSI Opens Perth Office; Chubb’s Prindiville & Shepard Named P/C Underwriters
Mar 26 2018 // Berkshire Hathaway Specialty Insurance (BHSI) announced it has opened an office in Perth, Western Australia, naming Anthony Prindiville to lead its casualty underwriting and Mark Shepard to lead property underwriting...
Woodruff-Sawyer Names DeVilbiss of Travelers P/C Leader in California
Mar 20 2018 // Woodruff-Sawyer & Co. has named Joel DeVilbiss the San Francisco, Calif. property/casualty practice leader. DeVilbiss is charged with driving the direction and development of Woodruff-Sawyer’s P/C practice in...
How Bad Was P/C Insurers’ Underwriting Loss in 2017?
Mar 20 2018 // The U.S. property/casualty industry recorded a net underwriting loss of $23.5 billion for year-end 2017, according to preliminary results from A.M. Best. That was $18 billion bigger than the underwriting loss in 2016. The...
