All the headlines from our Property Casualty Topic Page, ordered by recency.
Apr 16 2009 // Portage, Michigan-based managing general insurance agency J.M. Wilson has promoted Stacey Kiser to manager of Personal Lines and assistant manager of Property/Casualty.She will oversee the day-to-day activities of the...
Apr 10 2009 // In the midst of the financial turbulence, it’s easy to lose sight of longer-term trends. The economic downturn doesn’t necessarily mean the end of certain industries, but it does imply that there are some...
Apr 9 2009 // Property/casualty insurers remained profitable in 2008 despite taking hits from several catastrophes, the recession and the ongoing financial crisis. P/C insurers earned $2.4 billion in net income after taxes in 2008, but...
Apr 6 2009 // The economic and financial downturn will have a mixed impact on the workers’ compensation insurance market, say industry analysts.Harry Shuford, chief economist for the National Council on Compensation Insurance...
Apr 6 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Apr 6 2009 // Top 100 Agency ProfileRanking No.: 14 Agency Name: Bollinger Insurance Inc. Headquarters: Short Hills, N.J. Year Founded: 1933 Additional Locations: Princeton, Moorestown, Vineland, N.J.; New York City, N.Y.; Philadelphia,...
Mar 27 2009 // The nation’s insurance industry found some things to like and not to like in Treasury Secretary Timothy Geithner’s proposed restructuring of financial services regulation.While Secretary Geithner said that any...
Mar 23 2009 // With the parallels being drawn between the nation’s new Administration and President Franklin D. Roosevelt’s Administration during the 1930s Depression, it makes it even more ironic that results from a recent...
Mar 23 2009 // $568 MillionAmount spent by New York City to settle damage claims in fiscal year 2008 – an amount that was about $10 million higher than the previous year. Property damage from two major storms helped drive the total...
Mar 18 2009 // Despite some complaints by competitors, American International Group (AIG) does not appear to be using federal bailout funds to lower its insurance prices to keep and attract business, state and federal officials told a...
Mar 16 2009 // Ohio’s Feb. 11-12 windstorm caused at least $88.9 million in damages, based on preliminary insured loss estimates from the Ohio Insurance Institute (OII), an insurance industry trade group. Widespread losses were...
Mar 16 2009 // The commercial lines insurance market showed more signs of price stabilization in the last quarter of 2008.Commercial insurance prices saw just a slight decline of 3 percent during the fourth quarter of 2008 compared to...
Mar 15 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom.AIG is letting them form their own independent company called AIU Holdings. No longer...
Mar 9 2009 // Like spouses granted a divorce, AIG’s property/casualty insurance executives are relieved and excited about their newfound freedom. AIG is letting them form their own independent company called AIU Holdings. No...
Mar 9 2009 // The new AIU will start out with $45 billion in total revenues — enough to be a Fortune 54 company all by itself.State insurance regulators, like Texas Insurance Commissioner Mike Geeslin and Louisiana’s...
Mar 9 2009 // Top 100 Agency ProfileRANKING: No. 11 Agency Name: Heffernan Insurance Brokers Headquarters: Walnut Creek, Calif. Year Founded: 1988 Additional Locations: Palo Alto, San Francisco, Petaluma, Los Angeles and Orange, Calif.;...
Mar 9 2009 // Observers of the property and casualty insurance industry, who consider themselves gurus when it comes to predicting cyclical changes, find themselves in a state of perplexity these days. Traditionally, they look to the...
Mar 4 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. and all of its core companies, including...
Mar 3 2009 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key...
Mar 1 2009 // The U.S. government threw a new $30 billion lifeline to American International Group Inc. Sunday as the embattled insurer prepared to report the biggest quarterly loss in corporate history.AIG’s board approved a new...