Also, Majority of Weather Losses Tied to Smaller Events, Not Larger Catastrophes The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as …
A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of time.” The study suggests that the trigger for …
Acknowledged by many as the dean of American insurance journalists, John N. Cosgrove, 93, passed away on Aug. 3, 2005. Cosgrove served as a former editor of the National Underwriter magazine, authored the book “Grey Days and Gold,” a history …
Most agency owners have put their time, energy and heart into building their business. The business is a part of their life. The sale of one’s business is usually a one-time event. It therefore makes sense to take the time …
Brokerage Watch is a new bimonthly Insurance Journal department written by Charlotte, N.C.-based LMC Capital LLC (www.LMCCapital.com), a national investment banking firm focusing exclusively on the insurance industry. Services include industry-specific advisory relating to mergers and acquisitions, capital raises and …
NCOIL Model Addresses Use of Claims, Inquiries in Underwriting Homeowners Consumers who initiate a homeowners insurance claim but never receive payment could find that single incident may be used by their insurer to cancel their policy, or raise their premium, …
Second Quarter Profit Figures on the Rise: April, May and June are usually good months for the insurance industry, and 2005 has been no exception. While AIG led the U.S. contingent with a second quarter net figure of $3.99 billion …
MarketScout began tracking property and casualty pricing trends in 2001 in an effort to share the pricing results of insurance placements related to their 50,000 member agent network. The monthly market trends are published in MarketScout’s “Market Barometer.” The barometer …
USI Holdings Corporation announced the closing of the acquisition of Burlingame, Calif.-based retail property & casualty firm operating as Winthrop Insurance Plans. This operation has been providing employee property & casualty solutions to middle market businesses in the San Francisco …
Massachusetts-based Allmerica Financial Corporation announced Monday that it has entered into a definitive agreement to sell its run-off variable life insurance and variable annuity business to The Goldman Sachs Group Inc. In conjunction with this sale, AFC is seeking approval …
