News Currents
Biggest U.S. property cat losses in 2006 were away from coasts Property casualty insurers increasingly steered clear of the water out of fear of catastrophe losses during the past year. But while they were keeping a wary eye on the …
Private equity market bullish on E&S brokers
By mid-November more than $500 billion in private equity transactions had occurred in 2006, $100 billion in Oct. 2006 alone, according to Andrew Rosen, a partner with private equity firm HM Capital Partners. Dallas-based HM Capital has a controlling interest …
Agents, brokers ready to pursue ambitious legislative agenda in 2007
There is a new political dynamic in Congress that presents both opportunities and pitfalls. Last year, the President signed into law pension and health care reform that will greatly benefit insurance consumers. House passage of a surplus lines bill illustrated …
Survey: Commercial Prices Continue Declining in Non-Catastrophe Areas
Commercial insurance premiums continued their decline in all but catastrophe-exposed areas during the fourth quarter of 2006, with insurers willing to lower prices and place fewer restrictions on coverage to get new business, according to the latest market survey by …
Royal & Sun Alliance Management Buyout Faces Opposition
A proposed management buyout and eventual dissolution of Royal & Sun Alliance Insurance Group’s U.S. operations could leave policyholders in jeopardy, according to critics trying to halt the deal that is before Delaware regulators. The proposed buyout was the subject …
Biggest U.S. Property Cat Losses in 2006 Were Away From Coasts
Property casualty insurers increasingly steered clear of the water out of fear of catastrophe losses during the past year. But while they were keeping a wary eye on the coasts in 2006, and escaped relatively unscathed in those areas thanks …
Wis. Tommy Thompson to be Keynote Speaker at Advisory Group Meeting
The Hon. Tommy G. Thompson, former governor of Wisconsin and U.S. Secretary of Health and Human Services, has accepted an invitation to be the keynote speaker at an annual executive conference sponsored by the American Association of Insurance Services (AAIS). …
AAIS Files Terrorism Loss Costs in Commercial Properties
The American Association of Insurance Services (AAIS) is introducing loss costs for pricing terrorism coverage in its Commercial Properties Program. A countrywide manual supplement filing, now underway, will substitute the new loss costs, based on modeled data, for rating factors …
Insurance Skills Center Hosts 20th Annual Agribusiness Conference
Insurance Skills Center is hosting its 20th Annual Agribusiness Conference on March 14-15, 2007, in Sacramento, Calif. The conference will focus on specialized farm and agricultural insurance education, with seven concurrent sessions running during two days. Among the break-out sessions …
AXIS Reorganizes; Reding Named COO
Bermuda’s AXIS Capital has announced a strategic reorganization “to further strengthen the global operations of AXIS Insurance,” starting with the appointment of Dennis Reding, currently that division’s Chairman, to the new position of Chief Operating Officer of AXIS Capital, reporting …
