Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Universal Property & Casualty’s Expansion Continues With License in N.Y.
Mar 24 2016 // Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) has been approved by the New...
Rating Agency Warns P/C Insurers on Taking On Too Much Cyber Risk
Mar 21 2016 // If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty...
Universal Property & Casualty Licensed in New Jersey
Mar 17 2016 // Universal Insurance Holdings Inc., an insurance holding company based in Fort Lauderdale, Florida, announced that its subsidiary Universal Property & Casualty Insurance Company (UPCIC) was issued a certificate of...
P/C Insurers’ Operating Earnings Fell 7.2% in 2015: Fitch
Mar 16 2016 // U.S. property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according...
Socius Insurance Services Adds Mittelmark to Florida Office
Mar 16 2016 // Socius Insurance Services, Inc., a management liability and property/casualty insurance wholesaler, has hired Dan Mittelmark to join its management and professional liability practice as assistant vice president. Dan will...
J.M. Wilson Announces Promotions, New Hires
Mar 11 2016 // Portage, Mich.-based J.M. Wilson announced several promotions and new hires. Sherry Ihling was promoted to senior brokerage underwriter and Jennifer Tonthola was promoted to senior transportation underwriter in the Portage...
Buffett’s Gen Re to Exit Operations at 6 Locations, Amid Global Reorganization
Mar 11 2016 // Gen Re, one of the giant reinsurance businesses at Warren Buffett’s Berkshire Hathaway Inc., said it’s exiting property and casualty operations at six smaller locations amid a global reorganization. The...
Hartford CEO Swift to Chair P/C Insurer Trade Group AIA
Mar 10 2016 // The Hartford Chairman and CEO Christopher J. Swift will become chairman of the board of directors of the American Insurance Association (AIA) at its March meeting, serving a one-year term. Swift succeeds Michael S....
Arizona Insurance Council Now Arizona Insurance Institute
Mar 9 2016 // The board of directors of the Arizona Insurance Council has changed the name of its property/casualty insurance trade association. The group will now be operating as the Arizona Insurance Institute. The name change is to...
The Future, and Present, Belong to Specialty P/C Insurers: Conning
Mar 8 2016 // Specialty property/casualty insurers are now a dominant force in the market and generate more than half of the industry’s premiums, Conning Inc. asserts in a new report. Two-thirds of individual insurance companies...
Auto Insurer 2015 Underwriting Performance Loses Traction
Mar 7 2016 // Private passenger automobile insurance remains one of the most competitive segments in the U.S. property/casualty industry, with a number of large, well capitalized organizations battling for market share and searching for...
Regional P/C Insurers Shine in Underwriting, Pricing Performance: Fitch
Mar 6 2016 // Pricing improvements over several years have propelled returns for U.S. regional property/casualty insurers, according to Fitch Ratings. While the majority of North American publicly-traded insurers experienced flat to...
P/C Insurers Expanding Use of Predictive Models, Big Data Across Functions
Mar 3 2016 // Over the next two years, many property/casualty insurers expect to advance their use of predictive analytics to both improve business performance and leverage big data, according to Willis Towers Watson, which adds that...
Top 25 P/C Insurance Carriers, Groups by Line of Insurance: NAIC
Mar 1 2016 // The National Association of Insurance Commissioners (NAIC) has published market share data indicating the degree of market concentration in property/casualty insurance. The 2015 market share data for property/casualty...
P/C Insurers’ Faith in Predictive Modeling Continues to Grow
Mar 1 2016 // Clarification: This article first ran a year ago, in February, 2015, on Carrier Management.com. It is not Willis Towers Watson’s most recent survey on insurers’ use of predictive modeling. For a report on...
EPIC Adds Hall as P/C Broker in California
Feb 29 2016 // EPIC Insurance Brokers & Consultants has hired Steve Hall as a property/casualty insurance broker/producer. Hall will be based in EPIC’s Concord, Calif. office and report to Curt Perata, regional director of...
State Farm Reports Investments Overcame Underwriting Loss in 2015
Feb 28 2016 // State Farm Mutual Automobile Insurance Co., the largest U.S. property/casualty insurer, said 2015 profit rose 48 percent on investment gains tied to pharmaceutical holdings. Net income increased to $6.2 billion from $4.2...
New Jersey Issues Reminder: Certificates Law Will Take Effect in April
Feb 26 2016 // New Jersey Gov. Chris Christie’s administration issued a statement this week reminding insurance agents, contractors and other interested parties in the state that the new certificates of insurance law will take...
President of USAA Property and Casualty Insurance Group to Retire
Feb 25 2016 // Alan Krapf, president of San Antonio-based USAA Property and Casualty Insurance Group, has announced his intention to retire. USAA has begun the process of identifying internal and external candidates for the role. Once a...
P/C Direct Premium Written Up 4.2 Percent
Feb 22 2016 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually, according to a Demotech analysis. At year-end 2014, more than $570 billion of DPW was reported, a record-high...
