Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
What the Reauthorization of TRIA Means to the P/C Industry
Jan 13 2008 // On Dec. 26, President George W. Bush signed the Terrorism Risk Insurance Program Reauthorization Act of 2007 to reauthorize the federal backstop for seven years. First and foremost, reauthorization of TRIA means it is...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped in 3rd Quarter
Jan 13 2008 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
S&P Revises Swett & Crawford’s Rating Outlook to Negative
Jan 7 2008 // Standard & Poor’s Ratings Services has revised its outlook on HMSC Corp., the intermediate holding company of Swett & Crawford Group Inc., to negative from stable, while also affirming its ‘B’...
Guaranty Fund System Continues to Deliver
Jan 4 2008 // At the heart of every property and casualty insurance contract lies a promise to soften the blow of misfortune. But what happens when an insurance company becomes financially troubled, fails and is no longer able to uphold...
Kansas Recovers More Than $13M for Insurance Consumers in 2007
Jan 3 2008 // The Kansas Insurance Department’s (KID’s) Consumer Assistance Division had a record year in 2007, recovering more than $13 million for Kansas insurance consumers, according to Commissioner Sandy...
Texas Enforcement Actions Result in $4.5M in Fines, Restitution
Dec 28 2007 // Enforcement actions taken by Texas Insurance Commissioner Mike Geeslin that became final during November include three license revocations, two license denials, and fines and restitution totaling $4,495,150, the Texas...
Atlantic American Sells P/C Business to Missouri’s Columbia Mutual
Dec 28 2007 // Atlanta-based Atlantic American Corp. has agreed to sell its property/ casualty unit to Columbia Mutual Insurance Co. of Columbia, Missouri, part of the Columbia Insurance Group. The regional property and casualty business...
Best: ‘Unauthorized’ Reinsurance Increasing P/C Market Share
Dec 27 2007 // A.M. Best Co. has published a special report which examines the increasing use of “unauthorized reinsurance” in the U.S. P/C insurance industry. The report also indicates, however, that an “expensive...
P/C Insurers’ Net Income, Surplus Rose But Profitability Dropped
Dec 27 2007 // The U.S. property/casualty insurance industry’s net income after taxes rose 7.1 percent to $49.4 billion through nine-months 2007 from $46.1 billion through nine-months 2006. Fueled by the industry’s net...
People
Dec 23 2007 // Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston. The newly elected officers, who will assume their duties following the completion of the NAIC...
People
Dec 23 2007 // Toledo, Ohio-based privately held commercial insurance brokerage, the Hylant Group, has named John W. Chaney as president of the Cleveland office and regional vice president. Chaney will be responsible for the overall...
Agents Wish for More Stability, But Predict Soft Market Will Continue in 2008
Dec 23 2007 // Industry hopes for disaster solutions, federal terrorism insurance extension, regulation reform and more In 2007, buyers of insurance reaped in the rewards of a soft insurance market. But for agents and brokers the soft...
2007: Climate Change Dominates Debate While Soft Market Hits Entire P/C Market
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 23 2007 // I.I.I.’s Earlybird Forecast predicts negative premium growth but continued profitability in 2008 Next year may go down on record as one of the best insurance industry underwriting performances in the past 80 years,...
American Association of Insurance Services Conducts Personal Injury Study
Dec 18 2007 // The American Association of Insurance Services (AAIS), a national advisory organization and statistical agent that develops policy forms and rating information for property/casualty insurers throughout the United States,...
S&P to Host Teleconference Tomorrow on U.S. P/C, Global Reinsurance
Dec 18 2007 // Standard & Poor’s Ratings Services will hold a telephone conference call on Wednesday, Dec. 19, 2007 at 11:00 A.M. Eastern Time (5:00 P.M. -Europe; 4:00 P.M. UK). The conference will feature an overview of...
Rockwood Expands Agents’ E&O Coverage
Dec 17 2007 // Rockwood Programs Inc. has expanded its life, accident and health insurance agent’s E&O product offering to include two new endorsements. One enhancement expands coverage to include incidental property and...
Lockton Expands St. Louis Risk Management Team
Dec 17 2007 // Mo.-based Lockton recently announced that it has expanded its St. Louis brokerage team with the addition of Linda Liston as vice president-Account Executive, and Debra Bunce and Diane Fischer as account executives, and...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 17 2007 // Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts...
New Commercial P/C Agency Opens for Business in Dallas
Dec 12 2007 // Bridge Insurance Partners, a new national commercial property casualty agency has opened its first operating office in Dallas. Industry veteran and Managing Principal Jeff Turner spear-headed the campaign to open shop in...
