May 3, 2010
Flood Lapse “These short putts down a long fairway set a dangerous precedent that leaves homeowners vulnerable.” —David A. Sampson, president and CEO of the Property Casualty Insurers Association of America, commenting on yet another temporary extension of the National …
April 15, 2010
The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C insurers’ net income after taxes rose to $28.3 billion in 2009 …
April 15, 2010
Congress Thursday voted to restore jobless benefits for hundreds of thousands of Americans who had lost them during a partisan standoff in the Senate over spending. [The bill also reauthorizes the federal flood insurance program until the end of May …
March 16, 2010
Even though they are largely excluded from the federal financial regulatory overhaul proposed in the Senate, property/casualty insurers say there are some elements they fear could negatively affect them and their customers. Sen. Chris Dodd, D-Conn., unveiled his “Restoring American …
March 3, 2010
The U.S. Senate last night passed legislation that includes an extension of the federal flood insurance program until March 28. President Obama has signed the measure. The extension means that the National Flood Insurance Program (NFIP), which has been unable …
December 22, 2009
Private U.S. property/casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 percent decline to $4.4 billion through nine-months 2008 from $49.6 billion through nine-months 2007. Insurers’ overall profitability as measured by …
December 16, 2009
Time is running out once again for the National Flood Insurance Program, which is set to expire on Dec. 18. Congress passed a short-term extension in September that moved the expiration deadline for NFIP to Dec. 18, 2009. But if …
November 11, 2009
Chairman Christopher Dodd (D-Conn.) of the Senate Banking Committee on Tuesday introduced a draft of the long-awaited financial services regulatory reform bill. While insurance industry representatives were quick to applaud Dodd, the committee and staff on their work, they also …
October 26, 2009
Attacks by President Obama and Congressional Democrats against private health insurers will have a “spillover effect” on other segments of the private insurance marketplace, a property/casualty insurance trade group executive has warned. David A. Sampson, president and CEO of the …
October 15, 2009
There are “strong indications” that the justifications for the insurance industry’s limited antitrust exemption that existed in 1945, when McCarran-Ferguson was enacted, are no longer valid, an Obama administration official told Congress this week. However, the Department of Justice official …