Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
J.M. Wilson in Michigan Promotes Kiser to Personal Lines Manager
Apr 16 2009 // Portage, Michigan-based managing general insurance agency J.M. Wilson has promoted Stacey Kiser to manager of Personal Lines and assistant manager of Property/Casualty. She will oversee the day-to-day activities of the...
S&P: Global Risks Mean Some Changes in Store for P/C Insurers
Apr 10 2009 // In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some...
P/C Insurers Profitable in 2008; Take Hit From Catastrophes, Financial Crisis
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Economic Downturn Presents Mixed Results for Workers’ Comp Market
Apr 6 2009 // The economic and financial downturn will have a mixed impact on the workers’ compensation insurance market, say industry analysts. Harry Shuford, chief economist for the National Council on Compensation Insurance...
Regulators: AIG Not Using Bailout Funds to Under-Price Insurance
Apr 6 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Measurement of Success
Apr 6 2009 // Planning, People and Dedication Equal Success for Top 100 Agency Bollinger Insurance Top 100 Agency Profile Ranking No.: 14 Agency Name: Bollinger Insurance Inc. Headquarters: Short Hills, N.J. Year Founded:...
Insurers Find Geithner Regulatory Plan Unclear on Federal Role
Mar 27 2009 // The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation. While Secretary Geithner said that any...
The Case for Confronting Fear
Mar 23 2009 // Study Shows Policyholders Eager to Address Economic Crisis With P/C Agents With the parallels being drawn between the nation’s new Administration and President Franklin D. Roosevelt’s Administration during the...
It Figures
Mar 23 2009 // $568 Million Amount spent by New York City to settle damage claims in fiscal year 2008 – an amount that was about $10 million higher than the previous year. Property damage from two major storms helped drive the...
Regulators: AIG Not Using Bailout Funds to Underprice Insurance
Mar 18 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Ohio Windstorm Losses in Feb. Reach Nearly $89M; Ike Losses Rise
Mar 16 2009 // Ohio’s Feb. 11-12 windstorm caused at least $88.9 million in damages, based on preliminary insured loss estimates from the Ohio Insurance Institute (OII), an insurance industry trade group. Widespread losses were...
Survey: Commercial Lines Pricing Drops Just 3% in Q4
Mar 16 2009 // The commercial lines insurance market showed more signs of price stabilization in the last quarter of 2008. Commercial insurance prices saw just a slight decline of 3 percent during the fourth quarter of 2008 compared to...
Divorce AIG Style
Mar 15 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
Divorce, AIG Style
Mar 9 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
Spinning Off, Not Out of Control
Mar 9 2009 // The new AIU will start out with $45 billion in total revenues — enough to be a Fortune 54 company all by itself. State insurance regulators, like Texas Insurance Commissioner Mike Geeslin and Louisiana’s...
Finding a Niche
Mar 9 2009 // A Young Company With a Nontraditional Management Style, Heffernan Insurance Brokers Has Shown How an Agency Can Be Young and Successful at the Same Time Top 100 Agency Profile RANKING: No. 11 Agency Name: Heffernan...
A Look at the Transportation Insurance Industry
Mar 9 2009 // Industry Still Stalled in a Soft Market But Some Rate Increases on the Horizon Observers of the property and casualty insurance industry, who consider themselves gurus when it comes to predicting cyclical changes, find...
S&P Affirms State Farm Ratings, But Revises Outlook to Negative
Mar 4 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. and all of its core companies, including...
Best Downgrades Hartford’s Life and P/C Ratings; Outlooks Mostly Negative
Mar 3 2009 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key...
U.S. Commits Another $30 Billion To Bolster AIG; P/C Business Spinoff Planned
Mar 1 2009 // The U.S. government threw a new $30 billion lifeline to American International Group Inc. Sunday as the embattled insurer prepared to report the biggest quarterly loss in corporate history. AIG’s board approved a new...
