Latest Casualty Headlines
All the headlines from our Casualty Topic Page, ordered by recency.
Florida Property & Casualty Insurance Reform Committee Recommendations
Nov 19 2006 // Hurricane Catastrophe Fund 1. Keep the current retention level but consider offering coverage below the retention level/attachment point (first layer of coverage) on a voluntary basis to all admitted companies...
People, partnerships lead to nearly a century of success
Nov 19 2006 // Good people can make or break a company. In San Diego-based Barney & Barney’s case, it’s clearly made it; the company has been in business for nearly a century, thanks to people who have invested their...
Hannover Re Posts $486 Million Half-Year Net Income
Nov 15 2006 // Germany’s Hannover Re joined the expanding list of large reinsurers who are having a pretty good year due to the decline in natural catastrophes. The Group earned €380 million ($486 million) in the first six months...
ACE Names Stanway UK, Ireland Casualty Risks Manager
Nov 15 2006 // ACE announced the appointment of John Stanway as its UK & Ireland Regional Major Risks Casualty Manager. He joins the Company from Chubb, where he was most recently Regional Casualty Manager. Prior to Chubb, Stanway...
Max Re Posts $26.5 Million Q3 Net Income; Names Becker Chairman, CEO
Nov 14 2006 // Bermuda-based Max Re Capital Ltd. reported net income for the three months ended September 30, 2006 of $26.5 million, or $0.42 per diluted share, compared to a net loss of $44.2 million, or $0.96 per diluted share, for the...
First American Property & Casualty Insurance CIO Named Elite 8
Nov 10 2006 // Santa Ana, Calif.-based First American Property & Casualty Insurance Co. a member of The First American Corp. family of companies, announced that Jim Court, vice president and chief information officer of First...
Colorado Casualty Adds Real-Time Functions for Agents
Nov 7 2006 // Colorado Casualty, a member of Liberty Mutual Group based in Denver, has added real-time policy inquiry, endorsement quoting, and electronic endorsement submissions to the roster of functions available through Personal IQ,...
Consumer group says property-casualty rates drop ‘irrespective’ of tort reform enactment
Nov 6 2006 // There is continuing evidence that the skyrocketing insurance rates of 2000 to 2003 have led to record industry profits, but commercial insurance rates have stabilized or dropped in almost every sector, including medical...
Consumer group says property-casualty rates drop ‘irrespective’ of tort reform enactment
Nov 5 2006 // There is continuing evidence that the skyrocketing insurance rates of 2000 to 2003 have led to record industry profits, but commercial insurance rates have stabilized or dropped in almost every sector, including medical...
Agents Should be Unaffected by Pending Sale of Merchants Group
Nov 2 2006 // Merchants Group, Inc. in Buffalo, N.Y., which sells property casualty insurance through Merchants Insurance Co. of New Hampshire, has agreed to be bought by American European Group, Inc, a private insurance holding...
The Hartford’s Net Income Jumps 41% for Third Quarter
Oct 30 2006 // The Hartford Financial Services Group, Inc. reported record third quarter 2006 net income of $758 million, or $2.39 per diluted share — a sizable 41 percent boost over the same quarter last year. The Hartford’s...
Aon Moves On Exit Plan, Announces Sale of Construction Program
Oct 25 2006 // Chicago-based Aon Corp. today announced that it has taken further steps to exit its property & casualty underwriting business by signing a letter of intent for the sale of its Construction Program Group (CPG). Aon...
Troubled Washington Casualty Co. sold after three years
Oct 23 2006 // Washington Insurance Commissioner Mike Kreidler has sold Washington Casualty Co. of Issaquah, Wash., what he called a financially troubled liability insurer of rural hospitals and medical centers and that he has operated...
People
Oct 23 2006 // The Society of Chartered Property Casualty Underwriters elected new officers and governors. They are: President Betsey L. Brewer, senior vice president of The Rule Co. in Pasadena, Calif. President-Elect James L. Britt,...
Employee benefits offer an easy way to expand business with clients
Oct 23 2006 // It’s a problem many brokers face: clients love our property casualty risk management products and services, but have we given them all they need? What else can we do for them? An employee benefits program offers an...
Mich. Med Mal Insurer FinCor Acquires Washington Casualty
Oct 10 2006 // Lansing, Mich.-based FinCor Holdings, Inc., an integrated risk management corporation serving health care providers and facilities, today announced its acquisition of Issaquah, Wash.-based medical malpractice insurer,...
Trade Group: Mich. Enacts Positive Reforms to Guaranty Fund Coverage
Oct 3 2006 // Michigan recently enacted a series of positive reforms to the Michigan Property Casualty Guaranty Association Act that among many things adds a large deductible provision which clarifies the rights of the receiver and...
P/C Insurers’ Profitability Drops in First-Half of 2006
Oct 2 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
Report Identifies Major Risks for P/C Insurers
Sep 19 2006 // Casualty Actuarial Society, ERM Institute International, Ltd (ERM-II), and the CAS/SOA Risk Management Section have released the results of a major research project titled “Enterprise Risk Management for...
Insurers Urge Calif. to Drop Proposed Rate of Return Regulations
Sep 13 2006 // Three property/casualty insurance trade associations urged the California Department of Insurance (CDI) to abandon proposed regulations that would radically change how the CDI reviews and approves insurance company rate...
