December 2, 2011
A new insurance commissioner has allowed State Farm to charge higher rates and deductibles in Texas. State Farm Insurance on Dec. 1 was authorized to switch many of its 1.2 million homeowner policies to a higher deductible. The Dallas Morning …
November 4, 2011
An article on the Lloyd’s website takes a look at the “insurance and reinsurance specialists,” who “converge in Baden-Baden to begin their ‘renewal season’ discussions in earnest and in preparation for January 1, when deals between primary insurers and their …
November 3, 2011
The Directors of the London-based Steamship Mutual P&I Club “recently reviewed the Club’s open policy years, as well as claims in earlier years, and considered the premium ratings required for the 2012 policy year,” said an announcement from the Club. …
October 25, 2011
A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the re/insurance markets as posing “significant challenges …
September 30, 2011
Insurance rates are rising for property in high-risk areas, while rates are falling for many lines of professional insurance, leading to an overall stable market around the world, according to a report from Marsh, the brokerage arm of Marsh & …
September 19, 2011
Generally speaking the reinsurance industry is in good shape, certainly better than it was in 2008 and 2009, when even mighty Swiss Re needed a bailout from Berkshire Hathaway. A combination of improved models and a greater understanding as to …
August 25, 2011
Texas Medical Liability Trust announced a rate reduction for TMLT policyholders and an 18.5 percent dividend for renewing policyholders, effective Jan.1, 2012. The average rate decrease will be 6.9 percent, but will vary by specialty and the geographic location of …
July 1, 2011
Hawaii Insurance Commissioner Gordon I. Ito has ordered all homeowner insurers to submit new rate filings after a Insurance Division review found that rates were “excessive” when compared to National Association of Insurance Commissioners (NAIC) data. Ito recently issued a …
June 30, 2011
The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in the region of 10 percent of their total shareholders’ …
June 29, 2011
Commercial property/casualty insurance prices are stabilizing, with 70 percent of buyers expecting at least flat rates after years of declines, Barclays Capital said Tuesday. The firm’s survey of 50 large buyers showed insurers are more disciplined, with multiyear deals absent …