Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
A.M. Best Trend: Negative Insurer Ratings Outnumber Positive in 2015 First Half
Oct 12 2015 // The U.S. property/casualty (P/C) industry’s rating activity over the first half of 2015 turned negative as downgrades and negative outlooks outpaced upgrades and positive outlooks, according to A.M. Best. This...
What’s Driving Surplus Lines Insurance Growth?
Oct 12 2015 // Times are good for surplus lines professionals. The surplus lines industry reached new heights in 2014, growing direct premium written (DPW) in 2014 to $40.2 billion – the highest point in history, reports A.M....
Florida Approves the Removal of Up To 142,500 Policies from Citizens
Oct 12 2015 // The Florida Office of Insurance Regulation has approved the removal of up to 140,000 personal residential policies and 2,500 commercial residential polices from Citizens Property Insurance Corp. by the following four...
Palomar Insurance Hires King as VP, Producer in Atlanta
Oct 9 2015 // Palomar Insurance Corporation has hired Scott King as a vice president and producer. King joined Palomar in August 2015 and will be working with United Egg Producers (UEP). He has over 25 years of experience in property...
Assessing First-Half P/C Insurance Results: A.M. Best
Oct 6 2015 // The property/casualty insurance industry is likely to post a third consecutive year of underwriting profits, considering its performance in the first half of the year and barring any late year catastrophic losses,...
QBE Names Allianz’s Grote SVP, P/C Commercial Lines
Oct 5 2015 // QBE North America has welcomed a veteran industry executive to its leadership team. Walter Grote has joined QBE North America as senior vice president, commercial property/casualty, and will be based in the Chicago...
General Star to Combine Contract P&C, E&O Divisions Into Program Unit
Oct 5 2015 // Surplus lines insurer General Star announced it is combining its contract Property/Casualty and Errors & Omissions divisions into a new delegated business division under the leadership of Matt Brown. The new division...
Moody’s Sees 2015 as Turning Point for P/C Commercial Insurers
Oct 5 2015 // The outlook for the U.S. property/casualty commercial insurance sector is stable but insurers will begin to feel the pressure from compressing margins, according to Moody’s Investors Service. In a new report,...
Rhode Island Addresses Price Optimization
Oct 5 2015 // Rhode Island’s Insurance Division issued a bulletin on Sept. 18 for personal lines property/casualty insurers in the state that effectively prohibits the use of non-risk related features of price optimization. Rhode...
How P/C Mutual Insurers Perform Compared to P/C Industry
Sep 30 2015 // Mutual property/casualty insurers tend to underperform the property/casualty insurance industry as a whole in several areas of performance, a new report says. However, the A.M. Best report notes, the mission of a mutual...
UPC Insurance to Buy Interboro for $57M
Sep 30 2015 // United Insurance Holdings Corp. (UPC Insurance) said it will pay $57 million for Interboro Insurance Co., a New York-based property/casualty insurer licensed to operate in four states and Washington, D.C. The deal involves...
ACE to Appoint Andrade to Head Future Int’l. Non-Life Insurance Operations
Sep 28 2015 // ACE Ltd. announced that it intends to appoint Juan C. Andrade, as executive VP of the new Chubb Group and President of the International Non-life Insurance division, which encompasses operations with both retail broker and...
Louisiana P/C Commission: Worker’s Comp Market ‘Remains Competitive’
Sep 25 2015 // In its annual report to the Legislature for 2014-2015, the Louisiana Property & Casualty Insurance Commission noted that the workers’ compensation market in the state “remains competitive.” There were...
Great American Insurance Names Niehaus Property/Casualty Sr. VP
Sep 25 2015 // Great American Insurance Group based in Cincinnati, Ohio, has named James (Jim) R. Niehaus was named senior vice president and chief information officer of its Property and Casualty Group. Jim Niehaus Niehaus joined the...
Corporate Synergies in New Jersey Announces 2 Appointments
Sep 25 2015 // Corporate Synergies, a property/casualty brokerage and employee benefits consulting firm based in Mount Laurel, New Jersey, hired Alex Alday as vice president of account management. Alday recently worked at Lyons Companies...
Rhode Island Directs Insurers Using Price Optimization to Submit Revised Filings
Sep 23 2015 // Rhode Island’s Insurance Division issued a bulletin on Sept. 18 advising that any personal lines property/casualty insurer that uses price optimization to rate policies in Rhode Island should submit revised filings...
Monte Carlo 2015: Reinsurers Reexamine How They Do Business
Sep 21 2015 // The annual Rendez-Vous de Septembre in Monte Carlo, Monaco traditionally focuses on one or two signatory concerns within the industry. This year, things were different. The 2,700 registered attendees were faced with...
Zurich Abandons $8.7B Takeover of RSA After Forecasting Losses in P/C Business
Sep 21 2015 // Zurich Insurance Group AG abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC on Monday after forecasting a $200 million loss in its general insurance business due to...
Hanover Insurance CEO Eppinger to Exit
Sep 16 2015 // Frederick H. Eppinger is stepping down as president, chief executive officer and a director of the Worcester, Mass.-based The Hanover Insurance Group. The announcement said Eppinger, 56, is leaving to pursue other...
Moody’s Sees 2015 as Turning Point for P/C Commercial Insurers
Sep 15 2015 // The outlook for the U.S. property/casualty commercial insurance sector is stable but insurers will begin to feel the pressure from compressing margins, according to Moody’s Investors Service. In a new report,...
