Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Near National P/C Carriers Identified for 2013
Jun 3 2013 // The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007, issue of Insurance Journal. The Demotech Company Classification System categorizes insurers into one of 11...
How Women Can Rise to Executive Level in P/C Insurance Industry
May 31 2013 // Networking is the single biggest thing women can do to facilitate their rise up the corporate ladder in the property/casualty insurance industry, according to four women who have done just that. And being a sponsor is one...
Florida Fines Universal P/C $1.3M for Claims Delays, Notice Failures
May 31 2013 // Florida’s second largest property insurer is being hit with a fine of nearly $1.3 million. Florida Insurance Commissioner Kevin McCarty announced that his office was assessing a fine against Universal Property &...
Best Revises Outlook on Travelers and Most Subs to Positive; Affirms Ratings
May 31 2013 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa” of the property/casualty...
Best Affirms State Farm Companies, Affiliates and Subs Ratings
May 31 2013 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A++’ (Superior) and issuer credit ratings (ICR) of “aa+” of State Farm Mutual Automobile Insurance Company (SFMAIC) and its...
P/C Insurers’ Results Much Better in 2012 Than 2011: A.M. Best
May 28 2013 // Underwriting and operating results for the U.S. property/casualty (P/C) industry improved substantially in 2012 compared with 2011. Net income increased by nearly 52 percent to $39.9 billion from $26.3 billion, reflecting...
Insurers and Climate Change: The Truth is More Complicated than the Sound Bytes
May 24 2013 // As an insurance guy who has been on both sides of the climate change debate (I’ve worked for organizations full of climate change skeptics and now head one that believes it’s an important public policy issue)...
S&P Assesses Insurance Industry and Country Risk Shaping Insurance Markets
May 23 2013 // A report by Standard & Poor’s Ratings Services notes that “for the two main insurance sectors, life and property/casualty (P/C), overall industry and country risks are, on average, much lower in developed...
Daucourt Joins XL Group as COO Int’l. Property/ Casualty
May 22 2013 // XL Group announced the appointment of Thierry Daucourt as Chief Operating Officer of its International P&C Insurance business. He will be responsible for supporting the unit’s Chief Executive, Jason Harris, in...
NFP P&C Services Hires 2 Account Executives in New York
May 20 2013 // NFP Property & Casualty Services (NFPPC) recently hired two account executives in its New York office. NFPPC said Janine Fleury joined the firm as a senior account executive in the commercial lines department,...
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 20 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 9 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
Rockwood Decreases Agent E&O Rates in Massachusetts, California, Texas
May 7 2013 // Rockwood Programs has implemented underwriting guideline changes to its P&C Agents E&O program. The modifications will result in a rate decrease in the states of California, Massachusetts, Nevada, and Texas. The...
2013 Super Regional Insurers
May 6 2013 // Demotech Inc. Reveals Leading Multi-State Property/Casualty Insurers The original criteria and objective definition for Super Regional P/C Insurers™ was established in the Feb. 12, 2007, issue of Insurance Journal. Prior...
U.S. P/C Industry Posts $33.5B 2012 Income Despite Huge Catastrophe Losses of $32B
May 6 2013 // U.S. property/casualty insurers absorbed net insured catastrophe losses of more than $32 billion last year, but still managed to post $33.5 billion in net income in the aggregate — in part because catastrophe losses were...
XL Group Reports $350.8 Million Q1 Net Income; P&C Combined Ratio 87.7%
May 3 2013 // CEO Mike McGavick seemed quite pleased with XL’s results for, the first quarter of 2013. “XL once again delivered solid results — the kind of results we seek to routinely produce,” he wrote in the...
AIG Reports P/C Underwriting Gain for Q1
May 2 2013 // American International Group Inc.’s property and casualty business booked its first underwriting profit in two and a half years during the first quarter, as the insurer wrote more premiums at higher prices and...
Swiss Re Reports $1.4 Billion Q1 Net Income; Combined Ratio of 72.4%
May 2 2013 // Swiss Re’s earnings report reflected the lack of significant catastrophe events in the first quarter of 2013, which, except for the nasty winter weather in many parts of the world, didn’t see any high cost loss...
Applied Systems Acquires IVANS P/C Business
May 1 2013 // Insurance software vendor Applied Systems said it has completed its acquisition of the property/casualty business of IVANS, which has been providing products for insurance data exchange and integration between insurance...
The Hartford Reports $241M Q1 Loss Mainly Due to One-Time Charges
Apr 30 2013 // Hartford Financial Services Group Inc. posted a net loss of $241 million for its 2013 first quarter, compared to net profit of $96 million reported during the first quarter of 2012. The latest quarterly net loss was mainly...
