A bulletin from global broker Willis Group Holdings in the April 2006 online edition of “Marketplace Realities and Risk Management Solutions” describes events in the natural catastrophe (Nat Cat) segment of the property marketplace as “nothing less than tumultuous.” Directly …
Florida’s Consumer Services representatives held a meeting on Friday morning with officials of the Tampa, Fla.-based Poe Insurance Group to discuss how to reduce the number of consumer complaints about the firm and its subsidiaries, Atlantic Preferred Insurance Company, Southern …
Commercial property/casualty rates were flat or fell slightly during the first quarter of 2006, with renewal premiums for half of all account sizes holding steady or dropping between 1 percent to 10 percent in the first three months of the …
U.S. property/casualty insurers managed to increase earnings and add to their capital base in 2005 despite record catastrophe losses, according to ISO and the Property Casualty Insurers Association of America (PCI). Sound risk management and strong investment results lead to …
A Miami-Dade County man was arrested for practicing dentistry without a license and submitting fraudulent Medicaid claims, according to Florida’s Attorney General Charlie Crist. Orlando Sotolongo Guarton allegedly posed under the name of an actual licensed dentist, Dr. Lorenzo Puentes, …
What has happened with auto insurance rates in South Carolina should be the ‘gold standard’ for what can be accomplished with other types of insurance,” Elanor Kitzman, South Carolina Director of Insurance told the Independent Insurance Agents and Brokers of …
Editor’s note: This is the second article in a series on Western insurance associations. Part I of this article appeared in the April 3, 2006, western region publication beginning on page 47. As people migrate to the West, insurers’ must …
A well-known meteorologist is predicting that 17 named storms will form in the Atlantic Basin during the 2006 hurricane season, and the 2006 Atlantic hurricane season will be much more active than the average 1950-2000 season. Prof. William M. Gray, …
Last year’s devastating hurricane season produced a $4.2 billion underwriting loss in 2005 for property/casualty insurers. According to Weiss Ratings Inc., the loss erased the record underwriting profit of $6.4 billion reported by the industry in 2004. Property and casualty …
Despite last year’s disastrous hurricane season, Lloyd’s posted a relatively small 2005 loss of $180.6 million, not a great result compared to the $2.4 billion profit it made in 2004, but it could have been a lot worse. The financial …
