Former Louisiana Insurance Commissioner John Wooley will be the luncheon speaker at the 14th annual Mid-Year Property & Casualty Insurance Symposium in Austin, Texas, on July 13. Wooley served as commissioner during Hurricane Katrina and its aftermath. The symposium is …
A Leon County Circuit Court Judge has ordered Florida Select Insurance Company into rehabilitation according to Tom Gallagher, Florida’s CFO. Under the order, the company’s 70,000 homeowners policies are not cancelled at this time and the company may continue to …
Citizens Property Insurance Co. CFO Terri Slack announced June 23 that a $3.05 billion bond issue, believed to be the largest single bond issue in Florida’s history, was expected to be finalized June 29 in Miami. The bond issue will …
A new era demands new approaches including a federal charter and a national plan for addressing disaster insurance issues As the most expensive natural disaster in U.S. history, Hurricane Katrina raised serious questions about the capacity of today’s insurance industry …
Although property casualty insurance capacity still exists in some areas in the U.S.’s East Coast, the rate at which it is vanishing, especially in coastal areas, as well as the steep prices for available capacity, have industry executives concerned about …
Swiss Re’s economists held their “Mid-year Economic and Insurance Industry” teleconference yesterday, June 27, covering concerns on inflation, interest rates, high oil prices and the outlook for the insurance industry. Thomas Holzheu indicated that inflation concerns would cause the Fed …
The Chicago Mercantile Exchange has announced that weather derivatives could be an important growth area and hopes to launch new products to tap into demand for hedges against weather-related risk. “It’s our view that weather risk is no different than …
Fidelity National Property and Casualty Insurance Co. has received approval from the Circuit Court of Florida to purchase all of the existing flood insurance policies of Southern Family Insurance Co. through the Florida Department of Financial Services. Fidelity National Property …
The U.S. property/casualty industry’s net gain on underwriting rose $1.4 billion, or 20.8 percent, to $8.4 billion in first-quarter 2006 from $6.9 billion in first-quarter 2005. The combined ratio — a key measure of losses and other expenses per dollar …
A $3.05 billion bond issue, believed to be the largest single bond issue in Florida’s history, according to Terri Slack, Citizen’s CFO, will be finalized June 29 in Miami. Slack said the bonds will be taxable, auction-rate bonds that will …
