All the headlines from our Property Casualty Topic Page, ordered by recency.
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...
Feb 27 2009 // The net worth for the State Farm group decreased in 2008 by $10.4 billion to end the year at $53.3 billion, the company reported.The primary reason for the decrease was the $9.2 billion decline in the value of the...
Feb 22 2009 // Andrew Fotopulos has joined Starkweather & Shepley Insurance Brokerage Inc. in Providence, Rhode Island as senior vice president. Fotopulos will lead the brokerage’s financial institutional practice. He will...
Feb 22 2009 // Juan Andrade and Jonathan Bennett have been named as interim co-leads of the Property and Casualty Operations of The Hartford.Their appointment to those interim positions follows the departure of Neil Wolin, president and...
Feb 22 2009 // Juan Andrade and Jonathan Bennett have been named as interim co-leads of the Property and Casualty Operations of The Hartford.Their appointment to those interim positions follows the departure of Neil Wolin, president and...
Feb 22 2009 // American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who...
Feb 22 2009 // To many, the insurance world seems to operate on its own theory of physics. And to the hundreds of high-powered industry execs who gathered on the third floor of the Waldorf-Astoria in New York earlier this year, there is...
Feb 22 2009 // Independent insurance agencies remain reliable employers even in these rocky economic times, but even they have to cut back occasionally.Whether due to efficiencies from technology, the lingering soft market, the...
Feb 19 2009 // To many, the insurance world seems to operate on its own theory of physics. And to the hundreds of high-powered industry execs who gathered on the third floor of the Waldorf-Astoria in New York earlier this year, there is...