Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Rockwood Programs Lowers P/C Agency E&O Minimum Premiums
Oct 14 2009 // Rockwood Programs, Inc. says it has reduced the minimum premiums for its Property/Casualty Agents Errors & Omissions (E&O) product. Premiums now start at $1,250 for agents generating less than $100,000 in...
Successful IPO by Insurance Firm Verisk Analytics Stirs Hopes for More
Oct 8 2009 // Verisk Analytics Inc., an insurance services firm that owns ISO and is partly owned by Warren Buffett’s Berkshire Hathaway, soared in its first day of trading Wednesday, and stirred hopes that the appetite for such...
Louisiana-based Eagan Insurance Announces Staff Additions
Oct 8 2009 // Eagan Insurance Agency, based in Metairie, La., has added six insurance professionals to its staff. Joining the family business are Andrew Eagan and David Strassel, both members of the fifth generation of the Eagan family...
Ironman Kevin Kelley: Strength Through Multiple Platforms
Oct 5 2009 // Ironshore’s CEO on Why He Left AIG and How He’s Building His Young Company In December 2008, Kevin Kelley left Lexington Insurance Co., the largest excess and surplus lines insurance company, after more than 30...
P/C Insurers’ Technology Spending Up 1.6%
Sep 30 2009 // Planned information technology (IT) spending by property/casualty insurance companies increased 1.6 percent from 2008 to 2009, according to researchers. The planned increase in spending from 2009 to 2010 will only be...
Ironshore Expands U.S. Distribution Network
Sep 30 2009 // Ironshore Inc. will be expanding its distribution network by establishing regional offices throughout the United States. Steven England has been appointed executive vice president of Ironshore Insurance Services,...
P/C Industry Net Income Falls Nearly 60% in First-Half 2009
Sep 28 2009 // Private U.S. property/casualty insurers’ net income after taxes fell 59.3 percent to $5.8 billion in first-half 2009 from $14.1 billion in first-half 2008. Insurers’ overall profitability as measured by their...
ACE Europe Reorganizes Business Structure in UK and Ireland
Sep 25 2009 // The ACE European Group has announced a new operating structure in the UK and Ireland with the creation of two distinct business segments, a new senior regional management structure and the launch of a suite of cross-class...
Administration Backs Financial Consumer Agency; Bill Exempts P/C
Sep 23 2009 // U.S. Treasury Secretary Timothy Geithner argued forcefully Wednesday for creating a government watchdog for financial consumers, while giving cautious support to paring back its scope. Amid stiff resistance by banks and...
‘Main Street’ P/C Insurers Tell Congress They Don’t Need More Regulation
Sep 23 2009 // Home, auto and business insurers did not cause the current financial crisis, do not present systemic risk, and are already regulated effectively, a group of them is telling federal lawmakers looking at expanding financial...
Iowa’s Farm Bureau Mutual Plans to Convert to Stock P/C Insurer
Sep 17 2009 // The board of Farm Bureau Mutual Insurance Co. in West Des Moines, Iowa, has approved a plan to reorganize into a mutual holding company structure. The plan is subject to approvals by the Iowa Insurance Commissioner and the...
P/C Insurers Report Surge in Suspicious Claims
Sep 9 2009 // Property/casualty insurance companies report that the number of claims suspected of possible fraud has jumped 13 percent for the first half of this year compared to last year’s first six months. A review of...
People
Sep 7 2009 // ProMutual ProMutual Group has promoted José R. “Joe” Zorola to vice president of underwriting. Zorola previously served as director of underwriting for the Boston-based medical liability insurer. In this new...
Specialty P/C Insurer Ironshore Raises $300 Million
Aug 31 2009 // Property/casualty insurer Ironshore Inc. in Bermuda has completed an equity capital deal that will raise $300 million to support the continued expansion of Ironshore’s specialty insurance business. Lead investors in...
Concannon To Head The Hartford’s P/C Sales & Distribution Organization
Aug 21 2009 // The Hartford Financial Services Group, Inc. (NYSE: HIG) announced today that the company has promoted Michael Concannon, 47, has been promoted to executive vice president of The Hartford Financial Services Group’s...
New York’s Kingstone Completes Conversion into P/C Carrier
Aug 17 2009 // Kingstone Cos. Inc. has completed its conversion from an agency franchiser to a property/casualty insurance carrier, the company said. The Hewlett, N.Y.-based firm was spun out of the combination of DCAP Group Inc. with...
Premium Growth: Top 25 Premium Gainers Q1 2009 Versus Q1 2008
Aug 17 2009 // Roy H. Williams is an author and marketing consultant. He is known for his Wizard of Ads trilogy. He founded the Wizard Academy Institute. Although he is credited with saying “Consequently, a young business often...
Texas’ June Enforcement Actions Result in $441K in Fines, Restitution
Aug 10 2009 // Enforcement actions taken by Texas Commissioner Mike Geeslin that became final during June included 18 license revocations, five license denials and fines and restitution totaling $441,318, the Texas Department of...
Allianz P/C Profit Down, Combined Ratio Up for Q2
Aug 7 2009 // Allianz disappointed investors on Friday as its property/ casualty insurance business missed expectations even as improving financial markets helped group net profit rise by a fifth in the second quarter. Net profit at...
Arkansas Details Obligations for P/C Insurance Providers
Aug 6 2009 // The Arkansas Insurance Department has posted directives on its Web site that detail compliance requirements for property casualty insurance providers in that state. The insurance department noted that while Arkansas state...
