Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
AAIS, ACORD Partner on Standards for Insurers
Mar 17 2015 // Two major organizations that supply standard forms, rating information and policies to the property/casualty insurance industry have agreed to work more closely together. The American Association of Insurance Services...
Insurance ‘Geek’ Boggs Pursues ‘Light Bulb’ Effect as Academy Expands
Mar 17 2015 // Some people call it the “light bulb effect” — that point in a learning experience when a previously opaque concept suddenly seems crystal clear. For Christopher J. Boggs, that light bulb effect is the most...
P/C Insurance M&As: Deal Value Up, More to Come
Mar 17 2015 // Merger and acquisition activity in the property/casualty industry is increasing in deal value and will likely expand from reinsurers to primary carriers, according to two new industry reports. Deloitte said that the...
Sedgwick to Oversee Louisiana Property/Casualty Self-Insurance Program
Mar 16 2015 // A new private contractor is being hired to oversee claims processing and loss prevention services for Louisiana’s self-insurance program. The Office of Risk Management announced that Sedgwick Claims Management...
Independent Insurance Agents Defying Doomsayers
Mar 12 2015 // According to analysts, technologists, aggregators and others, the independent agency system is in trouble. Somebody forget to tell independent agents. Or more to the point, the doomsayers perhaps didn’t notice that...
SCOR Global P&C Appoints Gavazzi, Rousseau in Treaty Underwriting Area
Mar 12 2015 // SCOR announced it has made two underwriting appointments at its SCOR Global P&C unit. First, it appointed Umberto Gavazzi as chief underwriting officer for the Worldwide Treaty P&C operations of SCOR Global...
Royal Bank of Canada Is Reviewing Future of Volatile P/C Insurance Unit
Mar 11 2015 // Royal Bank of Canada is reviewing its domestic property and casualty insurance business, Chief Executive Officer David McKay said, citing difficulties caused by rules that ban banks from selling coverage in...
P/C Insurers Face $1 Billion Tab for February Storms in U.S.
Mar 9 2015 // February storms in the U.S. are expected to cost insurers more than $1 billion, according to the latest Global Catastrophe Recap from Aon Benfield’s Impact Forecasting. Five separate storm systems hit the U.S. during...
New Hires in 2015
Mar 9 2015 // About two-thirds of insurance carriers expect to hire more employees this year, a new survey finds. According to the semi-annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and Ward Group, 66 percent...
4 Reasons Direct Mail Should Be Part of Your Plan to Acquire New Customers
Mar 9 2015 // As an independent insurance agent you’re an expert in many things. You understand the right questions to ask in order to provide the right level of coverage. You know how to overcome price sensitivity by explaining...
A Closer Look at Berkshire Hathaway’s Insurance Operations
Mar 4 2015 // Carrier Management Special Report Warren Buffett’s insurance beginnings and predictions; breaking out the insurance and reinsurance results; the growth and expectations for Berkshire Hathaway Specialty Insurance;...
State Farm Reports 2014 Underwriting Loss, Operating Profit
Mar 4 2015 // State Farm reported an underwriting loss in 2014, though investment and other income still helped leave it with an operating profit. The insurer’s combined property/casualty underwriting loss landed at $939 million,...
Oklahoma Commissioner Warns Insurers on Denial of Earthquake Claims
Mar 4 2015 // With the dramatic increase in the number of earthquakes in Oklahoma — which some say are at least partly attributed to waste water injection wells related to the practice of hydraulic fracturing in oil and gas drilling...
Insurance Carriers Plan Increased Hiring in 2015: Survey
Feb 27 2015 // About two-thirds of insurance carriers expect to hire more employees this year, a new survey finds. According to the semi-annual U.S. Insurance Labor Outlook Study conducted by The Jacobson Group and Ward Group, 66 percent...
MacNeill Group Selected to Grow Commercial Property and Casualty Business
Feb 27 2015 // Sunrise, FL, February 27, 2015 – MacNeill Group, a wholly-owned subsidiary of Team Focus Insurance Group (Team Focus), and a licensed managing general agent (MGA) specializing in commercial, personal, transportation and...
Johnston Promoted to P/C Underwriter at Michigan-Based J.M. Wilson
Feb 23 2015 // Managing general agency and surplus lines broker J.M. Wilson promoted Samantha Johnston to property/casualty underwriter in its Portage, Mich., office. Samantha Johnston Johnston will be responsible for quoting, binding...
2015 Outlook for P/C: Profitable Despite Lower Rates, Says Wells Fargo
Feb 20 2015 // The commercial property/casualty insurance market should remain stable and profitable in 2015, according to the Wells Fargo Insurance 2015 Insurance Market Outlook. Abundant market capacity and an improving economy have...
J.M. Wilson Promotes Tobolic to P/C Underwriter in Michigan
Feb 19 2015 // Insurance wholesaler J.M. Wilson has promoted Thomas Tobolic to property/casualty underwriter in its Portage, Mich. office. Thomas Tobolic Tobolic is responsible for quoting new and renewal accounts for a wide variety of...
AIG Q4 Profit Drops on Debt Repayments, Reserve Charges
Feb 13 2015 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, said profit declined 67 percent on costs to pay down debt and add to reserves. Net income fell to $655 million, or 46 cents a share...
President of Florida’s Homeowners Choice to Retire
Feb 11 2015 // President of Homeowners Choice Property & Casualty Insurance Co., Scott Wallace, plans to retire at the end of May 2015 after 37 years in the insurance industry, according to a statement from Homeowner’s...
