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 for the year. The U.S. property/casualty industry posted a $31.2 billion net gain on …
Following the Washington Senate’s passing of an Insurance Fair Conduct Act, the Property Casualty Insurers Association of America (PCI) has issued a statement voicing its concern that the bill will lead trial attorneys to seek more litigation that could lead …
A Massachusetts ink manufacturer whose plant exploded and damaged dozens of homes has mounted a legal challenge to the state’s authority to bill it $312,000 for the cost of responding to the crisis. Lawyers for CAI Inc. in Danvers, Mass. …
Effective immediately, military personnel insurer USAA said it will “significantly restrict” the number of new homeowner, fire, and renter insurance policies it sells in Florida. USAA will only sell new homeowner or renter insurance policies for the primary residences of …
Oklahoma City, Okla.-based BMSI Holdings, the holding company for BancInsure Inc., announced a number of promotions and appointments following their annual shareholders meeting in Dallas, Texas. Rodney N. Sargent was appointed president of BMSI Holdings and chief executive officer of …
The proposed merger of Pennsylvania’s two largest insurance companies could result in about 1,000 lost jobs, mostly through attrition, a company executive said this week. Highmark CEO Dr. Kenneth Melani made the comments after a U.S. Senate Judiciary Committee hearing …
The larger the Citizens Property Insurance Corp. becomes, the greater the financial crisis that could occur when a major storm hits Florida, insurers cautioned this week. That message from the Property Casualty Insurers Association of America didn’t keep the Senate …
For over 30 years Leonard Crouse has been credited as a key figure in advancing the captive insurance industry. Crouse, the deputy commissioner for captive insurance for the State of Vermont, has been honored for his efforts with the 2007 …
A letter that was sent from an insurance company office in Portland, Maine, but never delivered has been returned to the sender — 63 years after it was mailed. A mail carrier returned the letter two weeks ago to a …
Tower Group, Inc. reported that it has completed the acquisition of Preserver Group, Inc., a New Jersey based property and casualty insurer. This transaction was previously announced on Nov. 14, 2006. Preserver Group, Inc. produced $86 million in direct premiums …
