Assessing the condition of New York’s homeowners insurance market is easier said than done. It’s either strong, stable or fragile depending upon whether the analyst is an agent or an insurer. Also, Allstate Insurance Co.’s decision to limit its business …
Warren E. Buffett, the billionaire chairman of giant Berkshire Hathaway, praises the performance of his primary insurance units, particularly Geico, in his annual letter to shareholders and acknowledges that concern over hurricanes has prompted his insurance subsidiaries to raise prices …
Legislation to create Catastrophe Savings Accounts to give Florida homeowners the opportunity to put aside tax-free money to financially prepare for major catastrophes has been filed by Congressman Tom Feeney from Orlando, according to Tom Gallagher, Florida CFO. “Floridians deserve …
Hurricane season is just a few short months away and the head of a Texas-based insurance trade group already sees some dark clouds on the horizon. “The Texas Windstorm Insurance Association is considerably under funded in the event a major …
According to a new report released by GE Insurance Solutions, massive growth along the nation’s coastlines has dramatically increased the potential for insured losses, even without a cyclical increase in the frequency and severity of hurricanes. In a paper entitled …
Measures aimed at improving the property insurance market are expected to dominate the insurance agenda when the Florida Legislature convenes on March 7, according to the American Insurance Association. Legislators also will debate whether to allow next year’s statutory sunset …
Lloyd’s announced that it has honored Garry Edwards of Hilb Rogal & Hobbs as U.S. Surplus Lines Broker of the Year and William H. Eyre, Jr. of Towers Perrin as Reinsurance Broker of the Year, “for their outstanding contribution to …
Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented 2005 hurricane season, but also to prepare …
Liberty Mutual Group reported net income of $253 million and $1.027 billion for the three and 12 months ended Dec. 31, 2005, respectively, representing decreases of $312 million and $218 million from the same periods in 2004. Results in the …
Swiss Re’s latest sigma report examines the natural catastrophes and man-made disasters of 2005. Among other findings it notes that “more than 97 000 people lost their lives” as a result of one of the “almost 400 catastrophes, which caused …
