The American Insurance Association (AIA) says the P/C industry made some positive legislative steps in Maine and Maryland this year, although the trade group says it was disappointed with a Maryland law that will raise the minimum auto liability coverage. …
The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C insurers’ net income after taxes rose to $28.3 billion in 2009 …
The more than 940 property/casualty insurers in Arizona that compete for business add more than $1.2 trillion in assets to the state, that enables Arizonans to drive cars, own homes, protect their property and operate businesses, according to the state’s …
A Stamford, Conn.-based research and consulting firm has identified 10 technologies that will have the greatest impact for the property/casualty (P/C) insurance industry. Gartner Inc. said these technologies will challenge existing business processes, support the emergence of new business models …
The shortage of experienced property/casualty insurance underwriters is growing as senior underwriters retire and the issue is keeping carrier executives up at night, according to an industry software provider that thinks it has an asnwer. Part of the problem may …
Property/casualty insurance companies, which already pay into state guaranty funds to backup claims of their insolvent peers, don’t want to have to also pay into a federal fund to cover failures of larger and riskier financial services firms. Leading p/c …
Operating profits improved substantially during 2009 across the U.S. property/ casualty insurance industry, with most market participants reporting double-digit operating returns on capital, according to Fitch Ratings in a new report. A Fitch review of 2009 GAAP results reported by …
Based on preliminary analysis, Fitch Ratings said it believes that the Chilean P/C insurance industry “will likely be able to absorb losses from the earthquake and Tsunami that hit the central-south part of Chile on Feb. 27.” However, Fitch added …
Paul Kangas has joined specialty insurer Assurant Inc. as vice president of federal policy and government relations, based in Washington, D.C. Kangas will be responsible for federal legislative and regulatory issues as they relate principally to Assurant Solutions and Assurant …
The Hartford Financial Services Group Inc. has named Christopher Swift as chief financial officer and executive vice president. Swift most recently served as vice chairman and CFO of American Life Insurance Co., and has experience in both the life and …
