Economy News

Distressed and Vacant Properties Fill a Void for Insurers

The vacant and distressed property segment, which was barely thought of two years ago, has been a beacon of light for insurers. This class has boomed in the past couple years as the economy has forced the closure of many …

The Economy and the Homeowners Market

How the Economy Turned Optional Coverages into Mandatory Enhancements Offering comprehensive homeowners coverage in today’s insurance market is not only good business, but a necessity. Insuring the property for full replacement cost is key. With the current economical impact on …

Top 100 2010 Privately-Held Independent Agencies

About This Report: The economy and soft insurance market continued to hammer some of the nation’s leading independent insurance agencies in 2009. Property/casualty premiums written fell for 37 percent of the privately-owned agencies and brokerages on Insurance Journal’s Top 100 …

Globalization: How Systemic Risks Have Altered the Financial World

When the present Lloyd’s building was completed in 1986, the architecture was called high tech, but inside you would have found that the offices contained no Internet, no e-mails and no World Wide Web. Since the construction of this building, …

Strategic Planning in Difficult Times

Why It’s Important to Create Meaningful and Reachable Goals Let’s start off with three simple questions. Do you think business planning is important? Do you have a business plan? If you answered no to question two, you are not alone. …

Bill to Eliminate Oil Liability Limit Comes Under Fire

Republicans and some moderate Democrats in the U.S. Senate Wednesday began picking apart a new energy bill that they complained goes too far in holding oil companies responsible for accidents like the massive Gulf of Mexico spill. “I think people …

Congress Set to Tackle Oil Spill Liability, Drilling Safety

U.S. Senate Democrats are set to unveil a slimmed-down energy bill Tuesday aimed at reforming offshore drilling, but House lawmakers are taking up a tougher bill on Friday that adds another hurdle to get a bill signed into law this …

Cleveland Loses Appeal of Suit Blaming Wall Street for Foreclosures

The city of Cleveland lost its appeal Tuesday of a lawsuit accusing 22 Wall Street bank and mortgage lenders of creating a public nuisance by creating risky mortgage securities to be sold to investors. A three-judge panel of the U.S. …

Calif. State Fund Names Rowe President/CEO

The California State Compensation Insurance Fund has named Tom Rowe president, CEO and member of the Executive Committee. He will report directly to the Board of Directors and is responsible for the day-to-day operations of State Fund. As head of …

United Fire & Casualty P/C Unit Sees Decline in Premiums, Claims

United Fire & Casualty Co., headquartered in Cedar Rapids, Iowa, reported that net premiums written in its property/casualty sector declined in the three-month and six-month periods ended June 30, 2010, as compared with the same periods of the prior year. …