Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
FITCH PAINTS BLEAK PICTURE
Dec 10 2001 // Fitch published a review of the nine-month 2001 reported GAAP results for the larger property/casualty insurers to assess operating performance thus far this year and to get an early indication of results for full-year...
Fitch Report Paints Bleak Picture for PnC Insurers
Dec 4 2001 // Fitch published a review of the nine-month 2001 reported GAAP results for the larger property/casualty insurers to assess operating performance thus far this year and to get an early indication of results for full-year...
NAMIC Comments on Leading Issue Trends Among Year’s New P/C Laws
Dec 3 2001 // New state laws concerning workers’ compensation, automobile insurance, financial and other regulatory requirements account for over half of the property/casualty-related insurance laws enacted by state legislatures...
Financial Keyosk Allows Agents to Tap Into Sales of Financial Services
Dec 3 2001 // Financial Keyosk, a growing online financial services solution providing assistance to agents, has come on the scene with the goal of helping agents obtain carrier markets, expand products and make their businesses run...
Negative Outlook for SAFECO
Nov 26 2001 // Following SAFECO’s announcement of loss reserve strengthening, A.M. Best Co. continued to maintain a negative outlook on the property/casualty operations’ financial strength rating of “A.” In...
SAFECO Rating Affirmed
Nov 21 2001 // Following Seattle-based SAFECO’s announced loss reserve strengthening and subsequent discussions with management, A.M. Best Co. has affirmed the financial strength rating of A (Excellent) for the property/casualty...
New State Decisions Equal More Than Half of P/C Enacted Laws for 2001
Nov 20 2001 // New state laws concerning workers’ compensation, automobile insurance, financial and other regulatory requirements account for over half of the property/casualty-related insurance laws enacted by state legislatures...
AXA Reports 2.5% Revenue Growth to $49.4 Billion for 1st Nine Months, Despite U.S. Slowdown
Nov 14 2001 // France’s AXA reported that global consolidated revenues for the first nine months of the year totaled €55.539 billion ($49.429 billion), a 2.5 percent increase over last year’s comparable figures, despite...
Financial Keyosk Allows Agents to Tap Into Sales of Financial Services
Nov 12 2001 // Financial Keyosk, a growing online financial services solution providing assistance to agents, has come on the scene with the goal of helping agents obtain carrier markets, expand products and make their businesses run...
RSA Reports 9 Month Results Down 36 %, Seeks to Raise Capital
Nov 9 2001 // The U.K.’s Royal & Sun Alliance reported that group operating results were $472 million for the first nine months of the year, compared with $738 million for the same period last year, a 36 percent drop. Most of...
Chubb Removed from CreditWatch
Nov 9 2001 // Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on Chubb Corp. to “AA-” from “AA+”, its preferred stock rating to “A”...
The Hartford Reports Third Quarter Operating Loss of 22 Cents Per Share
Nov 2 2001 // The Hartford Financial Services Group Inc. reported an operating loss of $52 million for the third quarter of 2001, reflecting a $440 million loss related to the Sept. 11 terrorist attack. The results also reflect a $130...
Acceptance Insurance Companies Reports Losses
Nov 2 2001 // Iowa-based Acceptance Insurance Companies Inc. reported an after-tax net loss of $9.5 million, or $0.66 per share, for the third quarter of 2001. The company’s continuing crop insurance operations generated an...
CIGA Bill Gets Approval in Calif. Legislative Session, SB 71 Falls Short
Oct 29 2001 // As the California Legislature wound up its 2001 session in mid-September, two workers’ compensation-related bills awaited their fate on the desk of Governor Gray Davis. AB 1183: CIGA Premium Surcharge In the case of...
A.M. Best Maintains Negative Outlook on SAFECO’s P/C Subsidiaries
Oct 25 2001 // In response to SAFECO’s recently announced loss reserve strengthening, A.M. Best Co. continues to maintain a negative outlook on the property/casualty operations’ financial strength rating of...
Great American® Offers Online Notary Bonds in Utah via ElectronicSurety.com
Oct 25 2001 // Great American Insurance Company now offers notary bonds and error and omission insurance for purchase online in Utah through its ElectronicSurety website. Low rate notary bonds are also available in Texas, Michigan,...
The Midland Company Reports Third Quarter Results
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement. For the quarter ended Sept. 30,...
SAFECO Reports 3Q Results, Strengthens Reserves by $240M
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
Property Insurers to Exclude Acts of Terrorism, and to Price Premiums for Larger Maximum Losses Oct
Oct 22 2001 // Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast...
Ohio Department of Insurance Orders 23 P/C Companies to Pay Up
Oct 18 2001 // The Ohio Department of Insurance ordered 23 property and casualty companies to pay money owed to insurance customers and submit corrective actions plans after market conduct examinations revealed that the companies were...
