Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
How New Capital is Changing P/C Industry and What To Do About It
Jun 17 2014 // As waves of capital reshape reinsurer’s business model, the property/casualty insurance industry needs to change although exactly how remains a matter of debate. Reinsurers face a growing threat from the capital...
Progress Report on Women, Diversity in the P/C Industry with IICF
Jun 16 2014 // Three property/casualty insurance industry women executives discuss the value of diversity in the industry, progress they see being made in increasing diversity at their own companies and across the industry, and what...
Is Yours a Top 100 Property/Casualty Independent Agency?
Jun 16 2014 // Find out by submitting your entry for the 2014 Insurance Journal Top Property/Casualty Agencies Listing. There are four ways to qualify: 1. Top 100 Independent P/C Agencies 2. Top Commercial Lines Independent Agencies 3....
Hurricane Forecasts Good News for Already-Stable P/C Insurers: Fitch
Jun 12 2014 // Early forecasts for the 2014 hurricane season indicate that moderate El Nino conditions are likely to persist throughout the year, which could inhibit tropical storm formation in the North Atlantic basin. This could also...
Stakes for P/C Insurers ‘High’ If Congress Shifts TRIA Burden: Moody’s
Jun 11 2014 // If Congress acts to extend the federal government backstop for terrorism insurance, the new version will likely impose higher deductibles and risk retentions on U.S. property/casualty insurers, says Moody’s Investors...
Under New CEO Hancock, Smaller AIG Expected to Focus on Growth
Jun 11 2014 // American International Group Inc. promoted Peter Hancock to chief executive officer as the company focuses on growth after his predecessor stabilized the insurer and paid back a 2008 government bailout. Hancock, 55,...
P/C Chief Hancock to Succeed Benmosche as AIG CEO, President
Jun 10 2014 // American International Group (AIG) has named Peter D. Hancock as president and chief executive officer, effective September 1. Hancock, who currently serves as executive vice president, AIG, and chief executive officer of...
P/C Insurers Must Manage Emerging Risks Including the Next Big One
Jun 10 2014 // Learning how to manage increasingly complex and evolving risks is essential if property/casualty insurers are to serve the needs of their customers in a changing world. According to analysts and industry executives at...
Hartford CEO McGee Steps Down for Medical Recovery; Swift Named CEO
Jun 9 2014 // Hartford Financial Services Group Inc. promoted Christopher Swift to chief executive officer, replacing Liam McGee, who is stepping down after a medical procedure. Swift, 53, the chief financial officer who joined from...
Best Affirms AmTrust Financial and Subs P&C Ratings; Outlook Stable
Jun 2 2014 // A.M. Best has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of AmTrust Financial Services, Inc. (AFSI),...
Best Upgrades State Farm General’s ICR; Affirms State Farm and Subs FSR’s
Jun 2 2014 // A.M. Best has upgraded the issuer credit rating (ICR) to “a+” from “a” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of State Farm General Insurance Company, and...
Small, Rural P/C Insurers Seek Tax Change
Jun 2 2014 // About 600 small mutual property/casualty insurers serving rural communities would get a tax break under federal legislation filed last month in Congress. Introduced by Reps. Erik Paulsen, R-Minn., Ron Kind, D- Wis., and...
Various Factors Contributing to Stability in Property/Casualty Insurance Market
May 29 2014 // The federal terrorism risk insurance backstop, in place in one form or another since 2002, will likely be reauthorized by Congress, and in the absence of a major catastrophe — man-made or otherwise — the current...
Moving Jobs to Low Cost Cities Making AIG ‘Best’ in Efficiency: P/C CEO Hancock
May 29 2014 // American International Group Inc., the largest commercial insurer in the U.S. and Canada, is shifting workers to locations including the Philippines and Texas to reduce costs. “We’re talking several thousand...
UPC Insurance Calls Off Deal to Acquire Sunshine State Insurance
May 28 2014 // United Insurance Holdings Corp. (UPC Insurance Co.) has terminated its bid to acquire financially-troubled Sunshine State Insurance Co. (SSIC), a Florida property/casualty insurance company. UPC’s intent to rescue...
Best Upgrades Travelers and Most Subs Ratings; Outlooks Stable
May 27 2014 // A.M. Best has upgraded the financial strength rating (FSR) to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “aa+” from “aa” of the...
P/C Insurance Industry Loss Reserves Stable: Conning
May 20 2014 // The property/casualty industry’s loss reserve position is slightly improved as of year-end 2013, according to Conning. “Overall, the industry continues to appear to have sufficient reserves, with a modest...
OnPoint Underwriting Offers New Managed Healthcare Program with Everest Re Group
May 19 2014 // May 19, 2014 – Denver, CO – OnPoint Underwriting (OnPoint) and Everest Re Group, Ltd. (NYSE:RE) announced a new relationship with Everest Reinsurance Accident and Health for the underwriting and management of HMO...
People
May 19 2014 // FrankCrum, a national professional employer organization, added Rodney Vaughn as broker manager, responsible for increasing the company’s presence in Texas, and forging relationships with insurance agents and...
United Insurance to Acquire Florida’s Sunshine State Insurance
May 16 2014 // United Insurance Holdings Corp. (UPC) has agreed to acquire 100 percent of Sunshine State Insurance Co. (SSIC), a Florida domiciled property/casualty insurance company. SSIC, based in Jacksonville, Fla., offers homeowners,...
