Commercial lines insurance premiums continued to tumble during the fourth quarter of 2007, according to the RIMS Benchmark Survey, an industry survey of policy renewal prices as reported by corporate risk managers. Despite concerns about losses arising from the continuing …
Fitch Ratings will hold a will hold a teleconference to discuss the outlook for the Insurance brokerage industry, on Tuesday, Jan. 15. Fitch said it would specifically discuss the “prospects for publicly traded brokers Marsh & McLennan (MMC), Willis (WSH) …
Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower, although that could quickly worsen if a natural catastrophe strikes. Those predictions – which follow two …
The subprime mortgage meltdown has been a leading story on the front pages of newspapers around the country for the past few months. The uproar also has led to a flood of new lawsuits and to concerns about how much …
R.E. Chaix & Associates, Katie Freeman Insurance Services Irvine, Calif.-based R.E. Chaix & Associates Insurance Brokers Inc. has agreed to purchase Katie Freeman Insurance Services Inc. Neither companies’ clients will experience any change in the usual service, said Timothy Chaix, …
Fair market value can be defined as the price that a willing buyer and a willing seller agree on for the price of a business. Naturally, there is a lot of room for negotiation based on the circumstances. However, fair …
Guy Carpenter & Company has released its “2008 Reinsurance Market Review: Near Misses Call for Caution.” The report presents a comprehensive review of global market conditions as of the January 1, 2008 renewal period and provides additional detail to the …
A national consumer organization has charged that property/casualty insurers are unfairly overcharging for home and auto insurance at the same time they are reducing payments to insureds. According to the Consumer Federation of America, insurer overcharges over the last four …
Asbestos related claims have been an albatross around the neck of the insurance industry for over 20 years. They almost caused Lloyd’s to collapse in the 1990’s. However, there now appears to be some new hope on the horizon that …
Rating agency A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit ratings (ICR) of “aa” of Allstate Insurance Group (Allstate) and its members. Additionally, A.M. Best has affirmed the ICR of “a” and …
