Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Underwriting, Investment Gains Boosted P/C Insurers’ Bottom Line in First Half 2013
Oct 3 2013 // Private U.S. property/casualty insurers’ net income after taxes rose to $24.5 billion in first-half 2013 from $17.2 billion in first-half of last year. Insurers’ overall profitability as measured by their...
CNA Said Looking to Sell Annuities Unit to Focus on P/C
Oct 1 2013 // CNA Financial Corp., the insurer controlled by Loews Corp., is looking to sell its payout annuities business to focus on property and casualty coverage, three people with knowledge of the matter said. CNA is working with...
Florida’s Heritage Insurance Names Russell Chief of Underwriting, Sales
Oct 1 2013 // Florida homeowner insurer Heritage Property & Casualty Insurance has named Mel Russell as its new chief underwriting officer, executive vice president and director of Sales and Marketing. Russell has 36 years of...
Federal Government Shutdown Effect on P/C Insurance Industry
Sep 30 2013 // If Congress fails to agree by midnight tonight on a resolution to continue funding the federal government, the property/casualty insurance industry should not be seriously affected by the resulting shutdown. The insurance...
Florida Consumer Advocate Westcott Resigns for Job with Industry
Sep 27 2013 // Florida’s Consumer Advocate Robin Westcott has resigned to become the vice president of the American Association of Insurance Services, an Illinois-based industry organization that develops standardized forms and...
Wholesaler Socius Names Dross as Vice President in Florida
Sep 27 2013 // Socius Insurance Services Inc., a management liability and property/casualty insurance wholesaler, announced it has hired Matt Dross as vice president, Property /Casualty Practice. Dross will be based in Tampa,...
Moody’s: Moderate Reserve Releases in U.S. P/C Industry to Continue
Sep 26 2013 // U.S. property and casualty (P/C) insurers continue to release reserves to support earnings, said Moody’s Investors Service in two recent reports. U.S. P/C insurers released $9.0 billion of reserves during the first...
Tech Firm Trōv Promises to Reinvent ‘Insurance to Value’ for P/C Industry
Sep 25 2013 // A high tech start-up is promising to raise the standard for determining “insurance to value” by giving property/casualty insurance companies and brokers access to real-time data on their upscale insureds’...
Surplus Lines Took Hit from Sandy in 2012 But Appears Back on Track in 2013
Sep 23 2013 // Surplus lines insurers in 2012 posted one of their worst years overall as their underwriting performance fell below that of the total property/casualty (P/C) industry for the first time in more than a decade. Much of the...
Good Times in Surplus Lines
Sep 23 2013 // Wholesalers Thrive Amid Change The surplus lines industry is letting the good times roll. Well, not exactly. But times are good and getting better for wholesalers and insurers doing business in the specialty insurance...
All Risks Ltd. Opens an Office in New Orleans Area
Sep 18 2013 // Independent insurance wholesaler, All Risks Ltd., announced the opening of an office in Metairie, La. This is the twenty-second office for All Risks. With three insurance professionals with extensive and diverse...
Private Market Will Dry Up If Federal Terrorism Insurance Not Renewed: Aon
Sep 18 2013 // Research by Aon shows that more than 85 percent of insurers will no longer insure terror risk if the federal backstop goes away. The brokerage firm revealed the conclusion based on its “market intelligence” in...
How Agents, Brokers Can Help Themselves, Clients with Healthcare Reform
Sep 13 2013 // The Affordable Care Act (ACA) has accelerated change and confusion in the health insurance marketplace and businesses and individuals are counting on their insurance agents and brokers to help them understand the...
Critics Say Taxpayers’ $14B Guarantees Profit for Crop Insurers
Sep 11 2013 // Former American International Group Inc. chief Maurice “Hank” Greenberg has a new business partner: the U.S. taxpayer. Greenberg’s Starr Indemnity & Liability Co. is one of 18 companies approved to...
Insurance Pros in Politics: Insurance Veterans Elect to Also Work in State Legislatures
Sep 10 2013 // Running a successful insurance agency business is tough enough by itself but some insurance pros are taking it one step further. They manage to juggle multiple careers in insurance and politics. Pennsylvania State Sen....
Insurance Pros in Politics: Midwest Politicians Work as Insurance Advocates
Sep 10 2013 // Those who have worked in the insurance industry and now practice politics in the Midwest say they are able to provide valuable insight into policies and insurance laws that affect their state’s important industries...
NFP Acquires Insurance West Corporation in California
Sep 9 2013 // NFP Property & Casualty Services Inc. has acquired Insurance West Corporation, an independent insurance agency in Simi Valley, Calif. specializing in property/casualty for the entertainment industry. The deal closed on...
Munich Re Sees Stable Reinsurance Rates in January Renewals
Sep 9 2013 // Munich Re, the world’s biggest reinsurer, said it expects stable rates for its property and casualty reinsurance at January price negotiations. “Prices will remain largely stable, chiefly due to the still...
28th Annual Market & Financial Outlook Survey Reveals an Optimistic Marketplace: MarshBerry
Sep 9 2013 // In June of this year, MarshBerry launched its 28th Annual Market & Financial Outlook Survey in conjunction with Insurance Journal. The survey compiled anonymous general independent agency information along with...
Insurers Paid Out $1.2M for Boston Bombing-Related P/C Claims So Far
Sep 9 2013 // The Massachusetts Division of Insurance says that so far, 207 Boston Marathon bombing-related property/casualty claims have been reported by the top 25 insurers and the residual market insurer Massachusetts FAIR...
