Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C INSURERS’ PREMIUMS SURGE $28B IN FIRST THREE QUARTERS OF 2002
Mar 24 2003 // Premiums earned by the nation’s property and casualty insurers surged $27.8 billion, or 12 percent, during the first three quarters of 2002, to $258.7 billion from $230.9 billion during the same period in 2001,...
Infinity P/C Assigned ‘A’
Mar 24 2003 // A.M. Best Co. has assigned a financial strength rating of “A” (excellent) to Infinity Property and Casualty Group, the core auto subsidiaries of Infinity Property and Casualty Corp (IPCC). IPCC was created...
A.M. Best Says P/C Company Impairments Continue to Grow
Mar 24 2003 // The number of insolvencies among property/casualty companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising Number of...
Lost at Sea: Hardening Marine Market Challenges Agents and Brokers
Mar 24 2003 // Marine insurance is, as Insurance Journal put it last year, “a unique animal.” The belly of the beast consists of cargo and yacht coverage, which account for 50 percent of U.S. written premium. But another...
Does the economy drive sub-standard automobile insurance in California’
Mar 24 2003 // Have we finally arrived at the point where the economy is a critical factor in personal automobile insurance? Not quite but it is my opinion that we are closing in. Although insurance company annual statements do not...
Is the Economy Driving the Sub-Standard Auto Market in Texas’
Mar 24 2003 // Have we finally arrived at the point where the economy is a critical factor in personal automobile insurance? Not quite, but it is my opinion that we are closing in. Although insurance company annual statements do not...
AUTO INSURANCE, WORKERS’ COMP EMERGE
Mar 24 2003 // New state laws concerning workers’ compensation and automobile insurance make up the majority of the property/casualty-related insurance laws enacted by state legislatures last year, according to an analysis of...
Zurich to Exit Latvia, Lithuania and Estonia
Mar 21 2003 // Zurich Financial Services announced plans to cease insurance activities in three Baltic States. It has reached a preliminary agreement for the transfer of its insurance portfolios in Latvia and Lithuania to If P&C,...
Infinity P&C Happy with 4th Quarter, Year 2002 Results
Mar 20 2003 // Infinity Property and Casualty Corporation of Birmingham, Ala. today reported earnings of its operations for the 2002 fourth quarter and full year as well as pro forma earnings as though Infinity had been a public company...
FAIR Plan Open to All Texas P/C Agencies
Mar 18 2003 // The Texas Department of Insurance announced that the Texas FAIR (Fair Access to Insurance Requirements) is now open to all licensed property and casualty insurance agencies in the state. The FAIR plan, the state’s...
BISYS Purchases San Francisco’s Tri-City Brokerage
Mar 17 2003 // BISYS, a global provider of business process outsourcing solutions for the financial services sector, announced its acquisition of San Francisco-based Tri-City Brokerage, the nation’s seventh largest commercial lines...
Trio of Assurex Global Agencies Choose XDimensional Technologies’ Agency Mgt. System
Mar 17 2003 // Nexsure, the industry’s first 100 percent web-architected agency management system based on the Microsoft .NET platform, has been selected as the office automation system by three members of the Assurex partnership...
NAII Notes Positive Modifications in VA 2003 Insurance Legislation
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
A.M. Best Says P/C Company Impairments Continue to Grow
Mar 13 2003 // The number of insolvencies among property/casualty insurance companies remained high in 2002, with 38 companies placed either under regulatory supervision or into liquidation, according to the special report, “Rising...
MarketScout Names R & SA “Best of Class” for Higher Education
Mar 13 2003 // MarketScout, a Dallas Texas-based insurance exchange specializing in the distribution of property and casualty insurance products, designated Royal & SunAlliance as its specialist for Higher Education coverages....
Insurance Bureau of Canada Says Industry Reached a “New Low” in 2002
Mar 12 2003 // Borrowing a phrase from Britain’s Queen Elizabeth the Insurance Bureau of Canada labeled the year 2002 an “Anni horribiles” as it reported that the financial results for the country’s P/C insurers...
NAIC Told P/C Insurer Use of Arbitration Saves Time, Money
Mar 11 2003 // Property/casualty insurer use of arbitration as an alternative to the more formal and confrontational tort system results in a more efficient and equitable disposition of claims, benefiting both consumers and companies, a...
P/C RESERVES IN FOR TIGHTER SCRUTINY
Mar 10 2003 // The property/casualty industry’s reserves will be scrutinized more closely, Fitch Ratings has announced. Specifically, Fitch’s analyses will target reserves from U.S. casualty business written between 1997 and...
P/C INSURERS EXPECTED TO PAY $5.8B FOR INSURED PROPERTY-LOSS CATASTROPHE LOSSES
Mar 10 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
Lost at Sea: Hardening Marine Market Challenges Agents and Brokers
Mar 10 2003 // Marine insurance is, as Insurance Journal put it last year, “a unique animal.” The belly of the beast consists of cargo and yacht coverage, which account for 50 percent of U.S. written premium. But another...
