Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
People Moves: DOXA Names Guerrero as President; Alera Group Hires Evans as SVP & Director of P/C Solutions
May 18 2022 // DOXA Insurance Holdings Names Joe Guerrero as President DOXA Insurance Holdings named Joe Guerrero as its president. Guerrero has more than 30 years of experience in the insurance industry specific to MGAs, MGUs, and...
Workers’ Comp: A Shining Star in the P/C Sky, But the Future Is Less Bright as Workforce Changes
May 2 2022 // Workers’ compensation continues to be the shining star in the property/casualty insurance market. Despite a 9% decline in direct premiums written to $44.3 billion, and a combined ratio in 2020 (91.1%) that was just a...
Florida’s Largest, Universal P&C, Sheds Policies, Shows Improved Bottom Line
Apr 29 2022 // Amid growing concerns about the health of Florida’s property insurers, the state’s largest carrier posted a somewhat mixed bag of financial results for the first quarter of 2022. But the company said it has...
Chubb Posts Record Q1 P/C Underwriting Income
Apr 26 2022 // Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3...
People Moves: Lockton Names Brown President of P/C for Mountain West; McGriff Adds Anderson in Colorado
Apr 6 2022 // Lockton promoted Ted Brown to president of property/casualty for the Mountain West region. Brown will focus on client experience and growing Mountain West’s P/C business. He joined Lockton in 2007. Ted Brown Justin...
People Moves: Alliant Promotes Arkley to President of Retail P/C Operations; Thune Lindberg Named Vice President
Apr 5 2022 // Alliant Insurance Services promoted Peter Arkley to president of its retail property/casualty operations. Arkley will lead Alliant’s retail P/C operation to leverage the strength of its Specialty. Arkley joined...
Thailand Revokes Licenses for Two P/C Insurers
Apr 4 2022 // Thai Finance Minister Arkhom Termpittayapaisith has revoked the insurance licenses of two companies — Southeast Insurance Pcl and Thai Insurance Pcl — controlled by billionaire Charoen Sirivadhanabhakdi. The...
Russian Invasion of Ukraine, Cyber Attacks and War Exclusions in P/C Policies
Apr 4 2022 // The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses in Ukraine and beyond. Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other nations....
Russian Invasion of Ukraine, Cyberattacks, and War Exclusions in P/C Policies
Mar 25 2022 // The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses, in those nations and beyond. Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other...
People Moves: Burns & Wilcox Adds 2 to Professional Liability Practice Group; J.M. Wilson Adds Struck
Mar 7 2022 // Burns & Wilcox Adds Tameka Livatino and Erin Pritchett to Professional Liability Practice Group Burns & Wilcox has named Tameka Livatinoas underwriting director of architects and engineers, based in Chicago. With...
More Price Increases for U.S. Commercial Insurance in Q4 2021: WTW
Mar 7 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS). The aggregate commercial price change reported by carriers was...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Mar 7 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Russian Cyberattacks May Test Insurer War Exclusion Policy Language
Mar 4 2022 // The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North...
Connecticut’s Trager Reznitsky to Add States After Buying P/C Unit of Stronghold Insurance
Mar 2 2022 // North Haven-based Trager Reznitsky Insurance has acquired the property/casualty business of another Connecticut independent agency, Stronghold Insurance LLC, in Shelton. This is the first acquisition for Trager Reznitsky...
People Moves: Erie Names Novacek Senior Vice President; J.M. Wilson Promotes Hamill
Mar 1 2022 // Erie Insurance Names Jorie Novacek as Senior Vice President and Controller Erie Insurance has named Jorie Novacek as the company’s new senior vice president and controller, effective March 3. Novacek, who currently...
Berkshire’s GEICO Posts 2021 Profit Much Lower Than 2020
Feb 28 2022 // Although Berkshire Hathaway’s biggest insurance operation GEICO reported a 63 percent drop in pretax underwriting income in 2021, overall the conglomerate’s insurance and reinsurance operations saw pretax...
St. Johns Insurance Insolvent, to be Liquidated, Florida DFS Reports
Feb 28 2022 // St. Johns Insurance Co., one of the larger property/casualty insurers based in Florida, is now insolvent and will soon be liquidated. The Florida Department of Financial Services posted a notice Friday that a judge in Leon...
U.S. P/C Industry Grew Surplus Despite Underwriting Loss in 2021
Feb 24 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Prime Insurance Company and Prime Property & Casualty Insurance Inc. Announces the Appointment of New Board Member
Feb 23 2022 // Ms. Richards states, “It is an honor to serve a carrier so dedicated to fighting for justice on behalf of our insured partners.” Chicago, IL, February 23, 2022 — Rick J. Lindsey, President, CEO and Chairman...
Market Your Agency to Build a Profitable Book of Surety Bond Business
Feb 22 2022 // This post is part of a series sponsored by Old Republic Surety. Do you want to build a book of surety business at your agency, but you’re not sure how to get started? Have you been selling surety bonds, but want to...
