Warns falling prices mean profits are at, or are steadily, approaching the cyclical peak Another report on the insurance industry confirms and details what has been widely acknowledged: a sharp decline in catastrophes in 2006 contributed to improved underwriting results …
The U.S. Department of Homeland Security intends to subpoena Allstate Corp. and other insurance companies as part of an investigation into Hurricane Katrina claims, the company said last week. Allstate, the second-largest U.S. personal-lines insurer behind State Farm, made the …
A F5 tornado, one of the most powerful to hit the U.S. in years, swept through the small town of Greensburg, Kan. late Friday night destroying 95 percent of the town’s homes and businesses. Ten deaths have been blamed on …
Blain K. Rethmeier has joined the American Insurance Association (AIA) as senior vice president for public affairs. Rethmeier joins the AIA from the White House where he served as special assistant to President Bush for communications. In this capacity, he …
A.M. Best Co. recently downgraded the financial strength rating of Dallas National Insurance Company (DNIC), Dallas, Texas, to “B++” (Good) from “A-” (Excellent) and assigned an issuer credit rating of “bbb.” The outlook for the FSR was revised to negative …
Property/casualty insurers say that Florida’s efforts to strengthen homes against storm damage are part of what is needed to improve the insurance situation for homeownrs. William Stander, assistant vice president and regional manager for the Property Casualty Insurers Association of …
Pennsylvania’s two largest insurance companies have formally asked state regulators to approve a change in control of their subsidiaries that would take effect when the nonprofit companies merge. Independence Blue Cross of Philadelphia and Highmark Inc. of Pittsburgh outlined the …
After a review of the supplemental compensation plans recently proposed in the marketplace by certain carriers, Willis Group Holdings reported that it will not be accepting these incentive arrangements because, it says, they fail to fix the conflicts associated with …
U.S. property and casualty insurers are expected to pay some $1.22 billion for catastrophic events during the first quarter, including severe tornadoes in several southern states, according to a company that tracks insurance data. The ISO Property Claim Services unit …
Italy’s Generali Group has concluded an agreement with PPF Group N.V., an international financial group, headquartered in Amsterdam, Netherlands, which is 95 percent controlled by Petr Kellner, a Czech entrepreneur with a strong track record of success. PPF Group in …
