The U.S. property/casualty industry’s net income after taxes rose 66.4 percent to $4.6 billion in first-half 2002 from $2.8 billion in first-half 2001, primarily because of improved underwriting results. But the industry’s surplus, or net worth, fell 2.3 percent to …
Alabama Insurance Commissioner David Parsons announced the establishment of a 13 member Insurance Liaison Committee composed of representatives of the insurance industry that do business in the state. “We felt it was important to establish lines of communication with the …
A federal judge ruled Sept. 25 that the attacks on the World Trade Center last September resulted in “one occurrence” under a policy form used by a trio of insurers of the destroyed complex, according to a Dow Jones report. …
Dallas-based NationWide Flood Research Inc. (NFRI) announced it has launched AtRisk, a three-step marketing service that helps insurance professionals locate potential customers and cross-sell flood policies to existing customers. Step 1 helps insurance agents identify customers who possibly carry flood …
The Texas Workers’ Compensation Commission (TWCC) announced it is seeking qualified individuals and representatives of public health care facilities and other entities to fill openings on the Medical Advisory Committee. In accordance with the eligibility requirements of the Procedures and …
The Farmers Insurance Group of Companies announced it will not renew current homeowners insurance policies in Texas beginning November 2002, and will no longer be able to provide the state’s customers with homeowners insurance coverage from thereafter. The decision to …
In a follow-up to a report in Jan. of 2001, Marco Anthony Ambroselli of Sacramento was found not guilty of the crime of a violation of Section 500 (a) (1) of the Penal Code of the State of California, (presenting …
The six-month profit increase earned by property & casualty insurers reported recently by A.M. Best Co. is a step in the right direction, but conditions in the industry aren’t as rosy as such improved financials might lead many to think, …
Property & Casualty insurers are reporting that reinsurers are imposing a number of the same types of terrorism exclusions and limitations in personal lines that are being put into action for commercial lines. The findings evolve from a recent study …
California-based Copart, Inc. announced that SAFECO has entered into a nationwide agreement with Copart for salvage vehicle processing. Under the agreement, Copart will be SAFECO’s exclusive vendor in the United States. “Copart now has over 80 national contracts in place,” …
