Death by Suicide “Historically failure to adequately reserve and price is the No. 1 killer of insurance companies.” —Robert Hartwig, president and economist for the Insurance Information Institute, noting that underpricing/under-reserving is the leading cause of death, contributing to about …
An executive of a national insurance company trade group told insurance CEOs and senior executives that America faces a struggle between two competing visions for the future – a choice between a free market system and an expanded federal government. …
A major research arm of the property insurance industry used giant fans to blow down a two-story, Midwestern-styled house yesterday as part of an unveiling ceremony for a massive new research facility in South Carolina. The Institute for Business & …
The U.S. Senate and the House of Representatives have both approved a one-year reauthorization of the nation’s flood insurance program. The measure, S. 3814, will extend the National Flood Insurance Program (NFIP) until Sept. 30, 2011. As of press time …
It’s official: the federal flood insurance program will be around for at least one more year. President Obama yesterday signed into law S. 3814, the bill that will extend the National Flood Insurance Program (NFIP) until Sept. 30, 2011. Without …
The House of Representatives joined the Senate yesterday in approving a one-year reauthorization of the nation’s flood insurance program. The measure, S. 3814, will extend the National Flood Insurance Program (NFIP) until Sept. 30, 2011. The measure now goes to …
Private U.S. property/casualty insurers’ net income after taxes rose to $16.5 billion in first-half 2010 from $6 billion in first-half 2009, with insurers’ overall profitability as measured by their annualized rate of return on average policyholders’ surplus increasing to 6.3 …
President Barack Obama on Wednesday signed a sweeping overhaul of the financial regulatory system. The “Dodd-Frank Wall Street Reform and Consumer Protection Act,” drafted in response to the recent financial crisis, makes significant changes to financial services regulation. The 2,300-page …
The Senate has passed the Dodd-Frank financial services reform package that will have some impact on the insurance industry and add involvement by the federal government in the state-based insurance regulatory system. The 2,300-page bill, which passed the Senate by …
The property/casualty industry returned to profitability in the first quarter of 2010 despite continuing declines in both written premiums and earned premiums. Private U.S. property/casualty insurers’ net income after taxes swung to positive $8.9 billion in first-quarter 2010 from negative …
