Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
SMART: An Opportunity to Re-Energize States
Dec 6 2004 // Through the State Modernization And Regulatory Transparency Act (SMART Act), Congressmen Michael Oxley (R-Ohio), and Richard Baker (R-La.), have made a creative initial proposal to re-energize state insurance regulation...
N.Y. Insurers Caution Lawmakers Over Reaction to Broker Probes As Albany Prepares for Assembly Hearing
Dec 2 2004 // The New York Insurance Association (NYIA) cautioned state lawmakers in Albany against “a knee-jerk public policy reaction” to allegations of improper business practices by brokers, agents and insurers that...
S&P Affirms Horace Mann Ratings; Outlook Stable
Dec 1 2004 // Standard & Poor’s Ratings Services has revised its outlook on Illinois-based Horace Mann Educators Corp. and its subsidiaries to stable from negative. Standard & Poor’s also affirmed its...
S&P Reports First Half Results in Japan’s P/C Sector Show Companies Still Under Pressure
Nov 30 2004 // Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting...
Axa Reported in Serious Talks with Credit Suisse to Acquire Winterthur
Nov 26 2004 // A report from the Financial Times indicates that France’s Axa Group is in serious discussions with Credit Suisse to acquire Winterthur, the banking group’s insurance division. Credit Suisse had dropped hints...
Swiss Re Hosts Investors’ Day Conference
Nov 24 2004 // Swiss Re hosted its annual Investors’ Day at its Rüschlikon Conference Center near Zurich, yesterday, Nov. 23. The presentation offered additional insights into the Group’s risk management framework and a...
Ga. Dept. Approves Cotton States Insurance
Nov 24 2004 // The Georgia Department of Insurance approved this week the proposed merger of Cotton States Life Insurance Company with a subsidiary of COUNTRY Life Insurance Company, and the affiliation of Cotton States Mutual Insurance...
Speed-to-Market Seminar in January
Nov 22 2004 // To assist P/C insurers on improving speed-to-market, the Property Casualty Insurers Association of America (PCI), the National Association of Insurance Commissioners (NAIC) and InSystems are sponsoring a free seminar for...
P&C Agent E&O Program
Nov 22 2004 // Nuts & Bolts: Rockwood Programs expanded its existing property and casualty agents errors and omissions program. Coverage is now available in all 50 states and the District of Columbia. The core program, called the...
SMART: An Opportunity to Re-Energize States
Nov 22 2004 // Through the State Modernization And Regulatory Transparency Act (SMART Act), Congressmen Michael Oxley, R-Ohio, and Richard Baker, R-La., have made a creative initial proposal to re-energize state insurance regulation...
Safeco P/C Group Affirmed
Nov 22 2004 // Fitch Ratings affirmed the “AA-” insurer financial strength rating on the Safeco property and casualty group. In addition, Fitch affirmed “A-” long-term and senior debt ratings on Safeco Corp. and...
Omaha P&C Under Review
Nov 22 2004 // A.M. Best Co. placed the financial strength rating “A-” (excellent) of Omaha Property and Casualty Insurance Co. (OPAC) under review with developing implications. The under review status reflects the...
Competitive Storm Brewing — What Spitzer’s Lawsuit May Mean to Us All
Nov 22 2004 // Perhaps like you, I have been fascinated by the press coverage our industry has received lately–probably more individual stories in prominent newspapers than at any other point in the last 25 years, all thanks to the...
Competitive Storm Brewing — What Spitzer’s Lawsuit May Mean to Us All
Nov 22 2004 // Perhaps like you, I have been fascinated by the press coverage our industry has received lately–probably more individual stories in prominent newspapers than at any other point in the last 25 years, all thanks to the...
Best Study Finds P/C Industry “Well Capitalized;” 21.8% Increase in Surplus
Nov 19 2004 // A special report released by A.M. Best Co. cites “vastly improved operating earnings” recorded in 2003 and a considerable boost from unrealized capital gains, as fueling a 21.8 percent increase in the U.S....
CNA Financial Corp., Subs Have Ratings Affirmed
Nov 19 2004 // Standard & Poor’s Ratings Services has affirmed its ‘BBB-‘ counterparty credit rating on CNA Financial Corp. (NYSE:CNA) and its ‘A-‘ counterparty credit and financial strength ratings on...
ACE Europe Restructures UK & Ireland P/C Operations
Nov 17 2004 // ACE Europe has announced the restructuring of its UK and Ireland Property & Casualty Operations into four distinct regions – North, Midlands and South West, South East and Ireland. Ace said: “The four...
Safeco Now™ Expands to Include Commercial Multi-Peril
Nov 16 2004 // Seattle-based Safeco announced it is again expanding the product breadth available on its single-platform online sales center Safeco Now™. In a breakthrough move for small-business insurance sales, the company has...
P&C Insurers Call for Compensation Disclosure
Nov 16 2004 // In testimony today before a Senate subcommittee, Property Casualty Insurers Association of America President and CEO Ernie Csiszar urged public policy makers to give careful consideration to efforts that make insurance...
Hannover Re Hit by Q3 Cat Losses; 9-month Operating Profit Down 18.1 % to $527 Million
Nov 12 2004 // Germany’s Hannover Re – ranked by Standard & Poor’s as the world’s fifth largest reinsurer – announced third quarter earnings that were heavily impacted by the Florida hurricanes and...
