There is an X-factor in setting insurance rates that even actuaries would have a hard time calculating: Politics. For those who serve as their state’s ultimate authority on what factors insurers can use to raise or lower rates, political calculations …
There is an X-factor in setting insurance rates that even actuaries would have a hard time calculating: Politics. For those who serve as their state’s ultimate authority on what factors insurers can use to raise or lower rates, political calculations …
Allstate Insurance, headquartered in Northbrook, Ill., has given notice to Des Plaines, Ill.-based Property Casualty Insurers Association of America (PCI) that the company intends to drop its membership in the insurer trade group effective December 2008. PCI’s by-laws require members …
Workers’ Comp Insurer Needs Change “Given SCIF’s size, its fiscal health is integral to ensuring a healthy and competitive workers’ compensation marketplace.” —California Insurance Commissioner Steve Poizner, commenting on recommendations to improve the State Compensation Insurance Fund. The recommendations were …
Industry hopes for disaster solutions, federal terrorism insurance extension, regulation reform and more In 2007, buyers of insurance reaped in the rewards of a soft insurance market. But for agents and brokers the soft market meant lower premiums, lower commissions …
Northbrook, Ill.-based Allstate Insurance has given notice to Des Plaines, Ill.-based Property Casualty Insurers Association of America (PCI) that it intends to drop it membership effective December 2008. By-laws of PCI require members provide one year’s notification prior to withdrawal …
PCI’s new CEO plans to ‘scan the horizon’ for insurer members facing terrorism insurance, regulation concerns, politics and more The Property Casualty Insurers Association of America (PCI) represents 1,000 insurance companies that write about 40 percent of the business in …
The Senate passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007, its version of legislation that will extend the federal terrorism insurance backstop. The current federal terrorism reinsurance program commonly known as the Terrorism Risk Insurance Act (TRIA) …
Munich Reinsurance America Inc. announced that John P. Phelan will retire as planned on Dec. 31, 2007, after serving nearly six years as chairman and CEO. Anthony J. Kuczinski, who is president of Munich Re America’s Specialty Markets Division, will …
The Senate today passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007, legislation that will extend the federal terrorism insurance backstop. The current federal terrorism reinsurance program commonly known as the Terrorism Risk Insurance Act (TRIA) is scheduled …
