Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
P/C Insurers’ Net Income Fell 42.2% in Q1; Catastrophe Losses Topped $7 Billion
Jun 27 2017 // The U.S. property/casualty insurance industry saw its net income fall to $7.7 billion in first-quarter 2017 from $13.4 billion in first-quarter 2016, a 42.2 percent decline. Also, its overall profitability as measured by...
Powered by Homegrown Insurtech, HCI to Expand Flood Insurance Sales to 9 States
Jun 26 2017 // As Congress tries to figure out how to change the federal flood insurance program to encourage more private insurer involvement, one insurer isn’t waiting to wade deeper into the private flood insurance business....
Cyber Insurance Premium Volume Grew 35% to $1.3 Billion in 2016
Jun 23 2017 // Property/casualty insurers wrote $1.35 billion in direct written premium for cyber insurance in 2016, a 35 percent jump from 2015, according to reports by Fitch Ratings and A.M. Best. The largest cyber insurance writers...
U.S. P/C Insurance Industry Keeps Quiet on Trump Exit from Paris Climate Accord
Jun 19 2017 // The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the...
People
Jun 19 2017 // Stephens Insurance LLC, an affiliate of Stephens Inc., an independent, full service investment banking firm, has opened a property and casualty brokerage office in Birmingham, Ala. The new team–made up of Tice Young,...
House Committee Advances 2 Flood Insurance Bills; More to Come
Jun 16 2017 // The House Financial Services Committee on Thursday passed two bills to reform the National Flood Insurance Program (NFIP). One is a broad reform proposal that seeks to encourage more private insurance and move the program...
Loppnow Joins Lockton as Property/Casualty Unit Manager in Milwaukee
Jun 15 2017 // Kevin Loppnow has joined Lockton’s Milwaukee office as a property/casualty unit manager. Loppnow is an industry veteran with more than 25 years of experience as a property/casualty strategist. He previously worked...
Seeman Holtz Acquires Wisconsin’s Vincent, Urban, Walker & Assoc.
Jun 13 2017 // Seeman Holtz Property and Casualty Inc. has acquired Vincent, Urban, Walker & Associates, an independent insurance agency headquartered in Green Bay, Wis. Doug Walker and his partners at Vincent, Urban, Walker &...
Burand’s State of P/C Insurance Industry, Part 1: Agencies Facing Paradigm Shift
Jun 13 2017 // Editor’s Note: This is the first of two articles by Burand based on his most recent 50-page whitepaper, State of the P&C Insurance Industry 2017. The whitepaper is available from Insurance Journal’s...
Top 100 P/C Agency Submission Deadline Extended
Jun 12 2017 // Don’t miss out on your chance to become one of Insurance Journal’s Top 100 Independent Property/Casualty Agencies. Extended Deadline Now: June 19 Insurance Journal will publish its annual list of the Top 100...
Henningsen Named President of Lockton’s P/C Insurance Operation in Houston
Jun 9 2017 // Kansas City-based insurance broker, Lockton, has namedJeff Henningsenas president of its Houston Property & Casualty Insurance Operation. Henningsen will take on an expanded leadership role in business development for...
1347 Property Insurance Holdings Appoints Case as Chief Operating Officer
Jun 8 2017 // 1347 Property Insurance Holdings, Inc., a property and casualty insurance holding company based in Tampa, Fla., has appointed Dan Case to the position of chief operating officer. Case will be responsible for strategies and...
S&P Revises AIG Outlook to Negative Citing Commercial Lines Challenges
Jun 7 2017 // Ratings agency Standard & Poor’s has revised its rating outlook to negative from stable for American International Group (AIG). The move came despite AIG recently hiring a new CEO, Brian Duperreault. At the same...
U.S. P/C Insurance Industry Mostly Silent on Trump Exit from Paris Climate Accord
Jun 6 2017 // The U.S. property/casualty insurance industry, which has been facing rising claims bills for extreme weather events, mostly reacted with silence to President Donald Trump’s decision to withdraw the country from the...
Heritage Insurance Secures $1.7B in Florida Reinsurance Cover for 2017-2018
Jun 6 2017 // Heritage Insurance Holdings, Inc., a property and casualty insurance holding company, announced that its insurance subsidiaries, Heritage Property & Casualty Insurance Co. and Zephyr Insurance Co., have completed the...
P/C Industry Posts $4.7B Net Underwriting Loss in 2016
Jun 5 2017 // Private U.S. property/casualty insurers lost big in 2016, reporting a $4.7 billion net underwriting loss driven, in part, by higher catastrophe-related property losses, according to ISO and the Property Casualty Insurers...
Sompo International to Acquire Novae’s Financial Institutions’ Renewal Rights
Jun 2 2017 // Sompo International, a Bermuda-based specialty provider of property and casualty re/insurance, announced its London market insurance platform has agreed to acquire Novae Syndicates Ltd.’s financial...
P/C Insurers Positioned to Absorb Hurricane Season: Fitch
Jun 2 2017 // The 2017 U.S. hurricane season may be here, but property/casualty insurers should be able to handle the challenges it brings, Fitch Ratings said in a new report. “Fitch currently has a negative sector outlook on the...
State of the P&C Insurance Industry 2017 Report-Chris Burand
May 30 2017 // San Diego, CA, May 30, 2017- Highly respected and outspoken insurance agency and industry consultant Chris Burand shares his “must-read” annual state of the property/casualty insurance industry report with his...
The Hartford Names Firstenberg P/C Insurance Chief Underwriting Officer
May 26 2017 // The Hartford has named David Firstenberg as chief underwriting officer for the company’s property/ casualty insurance businesses, replacing Mo Tooker, who was recently named head of The Hartford’s Middle Market...
