The U.S. insurance industry should be paying greater attention to the run-off market, according to a study published by PricewaterhouseCoopers’ (PwC) Insurance Restructuring Group. The “US Discontinued Insurance Business Survey” noted that although the market has an estimated $150 billion …
The Army Corps of Engineers reported recently that 122 levees from Rhode Island to California are at risk of failing, potentially affecting thousands of people and requiring millions of dollars in repairs. Six states in the Midwest are affected including …
Atlantic basin and U.S. hurricane landfall expected to be up 60 percent above normal A return to high hurricane activity in 2007 is likely following the below-average 2006 hurricane season, according to the consortium of experts on insurance, risk management …
The Missouri Court of Appeals recently threw out a $20 million jury award to five former State Farm Insurance agents who claimed they were improperly terminated for criticizing the company’s treatment of policyholders. A three-judge panel of the court’s Western …
>Study says industry could suffer from a $100 million loss The U.S. property/casualty insurance industry is long overdue for heavy losses from a massive earthquake, reports A.M. Best in its recent “2006 Annual Earthquake Study.” It is likely that if …
Aon’s Agribusiness and Food Systems Group has created a new unit to focus on the specialized risks associated with the bio-fuels industry. Aon’s new Agri-Fuels Risk Management Group (AFRMG), based in Kansas City, will be headed up by Senior Rela-tionship …
Hail events remain a constant threat to property and casualty insurers. In 2005 alone, there were over 13,000 hail storms in the United States. According to Swiss RE, four out of the top 20 most costly insurance losses of 2005 …
A study commissioned by the Independent Insurance Agents of Texas (IIAT) shows that the economy of the entire state of Texas would be severely impacted if a Category 3-type hurricane were to hit heavily populated areas of the Texas Gulf …
The violent thunderstorms in Central Florida in early February, spawned powerful tornadoes that killed at least 20 people is a deadly reminder of the constant threat insurers face against tornado exposures. Tornado-related losses account for 24.5 percent of insured catastrophe …
Geeslin has faced hurricanes, liquidations, workers’ comp overhaul And that was just in the first year of the commissioner’s term It could be said the first year of Mike Geeslin’s term as Texas Insurance Commissioner was one of “trial by …
