Latest Property Casualty Headlines
All the headlines from our Property Casualty Topic Page, ordered by recency.
Met P&C to Pay $345K in Restitution
Oct 8 2012 // An auto insurance company will pay close to $345,000 in restitution to Massachusetts consumers and an additional $50,000 to the state as the result of an investigation alleging that policyholders with clean driving records...
Business Moves – Midwest
Oct 8 2012 // AmWINS North Carolina-based insurance wholesaler AmWINS Group Inc. has partnered with two insurance industry executives, Terry Younghanz and Richard Parks, to form a new managing general underwriter (MGU) focused on...
Moving Forward
Oct 8 2012 // One result of an improving economy is increased demand for commercial insurance coverages. The economy is improving, slowly. And the property/casualty insurance industry is seeing growth, as well. Don’t take my word...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Oct 8 2012 // A report out late last month urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those...
Slow and Steady: Surplus Lines Industry Reverses Downward Trend; Optimism Good for 2012
Oct 8 2012 // Despite catastrophic events in 2011, low investment yields and competitive pressures, surplus lines specialists — especially market leaders — generated healthy operating profits and returns on both revenue and...
Florida’s Take-Out Plan: Citizens Loans to Willing Private Insurers
Oct 8 2012 // Florida’s state-backed property insurer is considering for the first time investing in private insurers to the tune of $350 million, with the hopes these insurers would then take on up to 300,000 of its policies. The...
Best Affirms XL Group’s P&C Subs, XLIT Ratings; Outlook Stable
Oct 5 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of the property/casualty subsidiaries of the holding company, XL Group plc,...
P/C Insurers’ Profits Jump in First Half as Catastrophe Losses Drop
Oct 4 2012 // U.S. property/casualty insurers’ net income after taxes jumped to $16.4 billion in first-half 2012 from $4.8 billion in first-half 2011, with insurers’ overall profitability as measured by their annualized rate...
Best Affirms Colonial Group and Subs Ratings; Outlook Stable
Sep 28 2012 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of ‘A-‘ (Excellent) and issuer credit ratings (ICR) of “a-” of the life/health and property/casualty operating subsidiaries of...
Brokerage Ames & Gough Names P/C Operations Manager in Virginia
Sep 26 2012 // Ames & Gough, an insurance broker and risk management consultant specializing in serving design professionals, law firms and other professional organizations and consulting firms, appointed Amy Hotaling as vice...
Met P&C to Pay $345K in Restitution to Massachusetts Consumers
Sep 24 2012 // An auto insurance company will pay close to $345,000 in restitution to Massachusetts consumers and an additional $50,000 to the state as the result of an investigation alleging that policyholders with clean driving records...
Business Moves – East
Sep 24 2012 // Cook, Hall & Hyde, Maran Corp. Risk Two brokerages in the Metro New York region — Cook, Hall & Hyde and Maran Corporate Risk Associates — announced their intention to enter into a merger agreement. Cook, Hall...
Business Moves – Southeast
Sep 24 2012 // CRC|Crump, Preferred Brokerage CRC|Crump has signed an agreement with Preferred Concepts in New York to acquire select assets of the company’s Preferred Brokerage business unit. Terms were not disclosed. J.C....
Isaac Losses Won’t Strongly Impact P/C Industry in Louisiana
Sep 24 2012 // While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk management experts, the storm’s impact will not severely impact the...
Report Points to Insurance Industry’s Vulnerability to Climate Change
Sep 20 2012 // A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change. In short, the report, its authors and those endorsing...
How Low Interest Rates Challenge Insurers and Affect Pricing
Sep 18 2012 // Property/casualty insurers say that principal preservation and total return are the most important objectives of their companies’ portfolio management, yet when asked about their satisfaction level with these two...
Zerkovich Joins P/C Insurance Advisory Organization AAIS
Sep 17 2012 // Joan Zerkovich has been named senior vice president of operations for the American Association of Insurance Services (AAIS), a national advisory organization that develops policy forms and manuals used by more than 700...
Re/insurers Increasingly Less Relevant to Global Economy: XL CEO McGavick
Sep 17 2012 // XL’s CEO Mike McGavick doesn’t mince words when it comes to looking at the big, and not very pretty, picture of the state of the re/insurance industry. Address emerging risks, innovate, create new products and...
Isaac Losses Won’t Strongly Impact P/C Industry in Louisiana
Sep 14 2012 // While insured losses in the United States from Hurricane Isaac likely will fall between $1 billion and $2 billion, according to some risk management experts, the storm’s impact will not severely impact the...
Five of Six NAMIC Members Joining ‘Century Club’ in Midwest
Sep 14 2012 // Six mutual insurance companies have been inducted into the National Association of Mutual Insurance Companies’ (NAMIC) Century Club in recognition of 100 years of serving their policyholders. Five of the new members...
