A newly-formed Mississippi company with backing from a Florida insurer and local private investors including six independent agencies will begin writing homeowners policies on the coast in Mississippi. Gulfport-based Coastal American Insurance Co. says it will specialize in homeowners insurance …
The U.S. property/casualty industry reported a strong fourth quarter topping off a solid year, according to rating analysts. Net income climbed to $31.1 billion in 2009, driven by improved underwriting results, the continued recovery of the financial markets and disciplined …
The Florida-Based Property Insurers CEO Group, representing 21 carriers, held a media conference today to discuss legislation to address the problems in the state’s property insurance market. The group downplayed the controversial issue of rate hikes while supporting reforms in …
Dallas-based independent insurance claims services company, Cunningham Lindsey, has expanded Randy Gray’s leadership responsibilities to include the Catastrophe Division. Gray currently is the vice president of operations for the South Central Region. He will assume responsibility for the Catastrophe Division …
$30.8 Million The amount from its surplus that Kentucky’s major workers’ compensation insurance carrier, Kentucky Employers’ Mutual Insurance, has decided to return to policyholders. Earlier this month, Gov. Steve Beshear asked the insurer to consider returning some of its $147 …
I couldn’t agree more with Florida Insurance Commissioner Kevin McCarty’s latest letter to the media asserting that facts – not mischaracterizations – should drive the public policy debate on Florida’s deteriorating property insurance market. The irony, Commissioner McCarty, is that …
Seven years and running, the soft market shows few signs of loosening its grip on commercial insurance pricing, according to a new industry study. Average premiums in every line tracked by the RIMS Benchmark Survey, fell in the first quarter. …
Congress Thursday voted to restore jobless benefits for hundreds of thousands of Americans who had lost them during a partisan standoff in the Senate over spending. [The bill also reauthorizes the federal flood insurance program until the end of May …
Judge James O. Shelfer of the Second Judicial Circuit Court of Florida has ordered Miami-based Northern Capital Insurance Co. (NCIC) into receivership for the purpose of rehabilitation. At the same time, the court ordered the subsequent liquidation of the company, …
Florida Insurance Commissioner Kevin McCarty sent a letter to the state’s media outlets on April 9 regarding the current property insurance system and what should be done to improve it. In it, he says the exodus of national carriers from …
