Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Program Business Market Grew 9.8% in 2013: TMPAA
Nov 2 2014 // Commercial property/casualty insurance program administrators outperformed the overall property/casualty insurance market last year. Program business premium revenues increased by 9.8 percent, reaching $30.1 billion in...
Regulator Takes Focus on Climate Change Preparedness
Oct 30 2014 // With a calm demeanor and in a somewhat scientific tone he doesn’t mind using while explaining his stance on something, Mike Kreidler stood by his decision to call out the insurance industry and the rest of the...
Anchor P&C Is Newest Florida Homeowners Insurance Carrier
Oct 30 2014 // Anchor Property and Casualty Insurance Co. became licensed by the Florida Office of Insurance Regulation (OIR) on Oct. 28 to write homeowners insurance business in the state. At the same time, the company has been approved...
Florida Approves Up to 183K Takeouts from Citizens for 2015
Oct 30 2014 // The Florida Office of Insurance Regulation (OIR) has approved the removal of up to 180,040 personal residential policies and 2,527 commercial residential polices from Citizens Property Insurance Corp. The OIR said these...
Universal Property & Casualty Insurance Licensed in Indiana
Oct 29 2014 // Universal Insurance Holdings Inc. announced that its subsidiary, Universal Property & Casualty Insurance Company (UPCIC), has been approved as a licensed insurance entity in Indiana. UPCIC expects to file its...
The Hartford Profit Up 32% in Q3
Oct 29 2014 // The Hartford reported third quarter 2014 net income totaled $388 million, up 32 percent from $293 million in third quarter 2013. The insurer said core earnings were $477 million for the three months ended Sept. 30, 2014,...
Stratton Promoted to Property/Casualty Underwriter at J.M. Wilson
Oct 28 2014 // J.M. Wilson has promoted Kristy Stratton to property/casualty underwriter in its Portage, Mich., office. She is responsible for quoting new and renewal accounts for a wide variety of commercial property and casualty risks,...
Top 10 Market Conduct Issues for P/C Insurers
Oct 28 2014 // A review of state insurance regulators’ examinations of U.S. property/casualty insurers shows that claims-handling, underwriting and producer requirements continue to be the top criticisms. According to compliance...
XL North America P/C Names Nadeau As Chief Operating Officer
Oct 24 2014 // XL Group’s North America Property & Casualty (NAPC) insurance business has promoted Donna Nadeau to the position of chief operating office, reporting to Joe Tocco, NAPC chief executive. Nadeau previously served...
MyPath Portal Aims to Attract Millennials to Insurance Careers
Oct 23 2014 // With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their...
Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’
Oct 22 2014 // A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the...
Eight P&C Insurers Get Top Marks for Climate Change Risk Management
Oct 22 2014 // Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and...
P/C Insurers’ Reserves Redundancy to Continue: Moody’s
Oct 20 2014 // U.S. property/casualty insurers’ reserves will remain moderately redundant through the end of the year, Moody’s Investors Service has reported. “We expect moderately redundant reserves based on ongoing...
P/C Insurers’ Net Income Rose in First-Half of 2014
Oct 20 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
P/C Direct Premium Written Up 5.2% in First-Half of 2014
Oct 20 2014 // Direct premium written (DPW) for property/casualty insurance companies continues to increase, albeit gradually. At year-end 2013, nearly $545 billion of DPW was reported, a record high for the industry. For 2013, total DPW...
Large Agencies More Optimistic About Future Growth: Vertafore Study
Oct 17 2014 // Optimism over the future growth potential of independent agencies ties closely to the size of the independent agency, with larger agencies feeling more optimistic about future growth than their smaller counterparts,...
Global Indemnity to Acquire American Reliable from Assurant Specialty
Oct 17 2014 // Assurant Specialty Property, a business segment of Assurant Inc., has agreed to sell its general agency business and associated insurance carrier, American Reliable Insurance Co., to Global Indemnity Group Inc., the U.S....
P/C Insurers Rush to Meet Rising Demand for Cyber Insurance
Oct 9 2014 // Insurers flush with capital are rushing to grab part of an expanding cyber coverage market that’s been spurred on by high-profile hackings at JPMorgan Chase & Co. and Home Depot Inc. Sales are set to double this...
New National Search Firm Specializing in P/C Insurance Opens in Kansas
Oct 7 2014 // A new executive search and recruiting firm exclusively dedicated to the property/casualty insurance industry has opened its doors in Prairie Village, Kan. Cohn Search Group provides a full-service recruiting experience to...
P/C Insurers’ Net Income Rose, Operating Income Fell in First Half
Oct 6 2014 // U.S. property/casualty insurers’ net income rose $1.6 billion to $26.0 billion in first-half of 2014 while pretax operating income fell $1.9 billion to $23.9 billion in first-half 2014, a decrease driven by lower...
