The nation’s property and casualty insurers reported a $9 billion loss in 2001, compared to a $27 billion profit in 2000, according to research by Weiss Ratings Inc. By year-end, claims surged to a record $381 billion, an increase of …
An extraordinary number of catastrophes, the high cost of home repairs and excessive jury awards due to the emergence of mold claims are pushing the cost of homeowners insurance upward an average of 8 percent nationwide in 2002 and a …
The ability to transfer risk is one of the cornerstones of our economy and helps create our extremely high standard of living. Without that ability, lenders won’t lend; builders won’t build. The current hard market threatens that risk transfer mechanism. …
Swett & Crawford chairman David Hartoch has seen a number of changes in the excess and surplus industry during his decades in the business. As he approaches retirement in December, Hartoch took time out to talk with Insurance Journal and …
The CPCU Society, an association for more than 28,000 CPCU-credentialed insurance industry professionals, will feature several leadership development opportunities for its members during the 58th Annual Meeting and Seminars, Oct. 19-22, in Orlando, Fla., at the Dolphin and Swan Hotels. …
Alabama-based Vesta Insurance Group announced a $6.2 million loss from catastrophes for the second quarter of 2002. Vesta’s net operating loss is expected to be between $0.02 and $0.05 per diluted share. Vesta incurred approximately $4.4 million in losses from …
Noted business speaker Dr. Tony Alessandra will share his insight on marketing, sales, service and relationship-building with attendees at the Independent Insurance Agents & Brokers of America’s (IIABA) upcoming New Orleans InfoXchange. More than 2,500 independent agents, brokers and other …
Texas Insurance Commissioner Jose Montemayor has approved homeowners policy forms from the Insurance Service Office (ISO) similar to policies used by insurers in other states. Insurers wanting to use the ISO form in Texas must file for approval and show …
Texas Insurance Commissioner Jose Montemayor has initiated an investigation of Farmers Insurance Co. to determine whether new homeowners restrictions it put in place violate fair trade practices. The Austin American-Statesman reports that Farmers recently ceased writing new policies for houses …
Gordon Stewart, president of the Insurance Information Institute (I.I.I.), said in Congressional testimony July 18 that mold has become a major factor in rising homeowners costs, reaching crisis proportions in Texas, and a serious problem in several other states, including …
