The low interest-rate environment and poor investment income are pushing the need for more stringent underwriting for carriers, according to a panel of experts at a recent industry forum. Property/casualty insurers get part of their revenues from the interest generated …
The National Association of Mutual Insurance Companies (NAMIC) named Robert P. Hartwig, Ph.D., president/CEO of the Insurance Information Institute, New York, N.Y., as the association’s 2011 Chairman’s Award winner. Hartwig has been with III since 1998, initially as an economist …
A bulletin from the Insurance Information Institute notes that a recent Casualty Actuarial Society seminar advises actuaries that when it comes to pricing global reinsurance business, it’s important to remember that “all risks are local.” Athula Alwis, associate vice president …
U.S. property/casualty insurers’ net income after taxes rose to $34.7 billion in 2010 from $28.7 billion the year before, with insurers’ rate of return on average policyholders’ surplus increasing to 6.5 percent from 5.9 percent. Policyholders’ surplus rose $45.5 billion, …
