All the headlines from our Property Casualty Topic Page, ordered by recency.
Nov 12 2008 // Two insurance companies have said they will not participate in the government’s rescue program to directly invest billions in financial companies.Some insurers likely would be eligible under the Treasury...
Nov 11 2008 // The Texas Department of Insurance enforcement actions taken by Commissioner Mike Geeslin that became final during September include ten license revocations, two license denials and fines and restitution totaling...
Nov 6 2008 // Standard & Poor’s Ratings Services has revised the CreditWatch status of its ratings on a number of American International Group Inc.’s P/C subsidiaries and other units with ratings derived from guarantees...
Nov 4 2008 // Swiss Re reported a net loss of CHF 304 million ($259.3 million) for the third quarter of 2008, despite what it described as “good technical results for Property & Casualty.” For the first nine months of...
Nov 2 2008 // Oregon’s Department of Consumer and Business Services (DCBS) announced that Scott Kipper, administrator of the Insurance Division, left his position on Oct. 31, 2008, to pursue other interests. Yet before he left,...
Nov 2 2008 // Risk managers report that commercial policy renewal prices are continuing to drop even as insurers are battling a decline in statutory surplus.According to RIMS Benchmark Survey, an industry survey of policy renewal prices...
Nov 2 2008 // Stock Prices: The turbulent stock market is not sparing commercial property/casualty insurers. Through the first nine months of the year stocks are down 14 percent in the sector.M&A Activity: Despite the current...
Nov 2 2008 // As economic stagnation and current rate pressure weakens performance and as supply starts to outstrip demand for acquisitions, agencies and brokers must be prepared for deteriorating valuations. As the next few years will...
Nov 2 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/ casualty insurers are...
Nov 2 2008 // The 2008 Insurance Journal Agency E&O Survey, conducted Oct. 3 through Oct. 16, drew 1,042 respondents from 50 states; there were no respondents from the District of Columbia. The five states with the highest...
Oct 30 2008 // Hartford Financial Services Group Inc. joined other insurers in reporting a loss in the third quarter due to large investment losses and catastrophe claims.The Hartford reported a third quarter 2008 net loss of $2.6...
Oct 28 2008 // Responding to news that Loews Corp., the parent company of commercial insurer CNA Financial Corp., will pour up to $1.25 billion into CNA to boost its surplus, rating agencies A.M. Best Co. and Moody’s said...
Oct 28 2008 // Property/casualty insurers Travelers Cos. Inc. and Chubb Corp. said they do not need federal financial assistance and chided other insurers pushing to be included in the $700 billion bailout.“Most companies in the...
Oct 27 2008 // Best-of-Breed Solution Will Streamline Claims Operations, Enhance CommunicationHonolulu, HI – October 27, 2008 – BlueWave Technology™, a provider of property and casualty insurance solutions, today...
Oct 27 2008 // Commercial property/casualty premiums continued a downward slide during the third quarter of 2008, but there were suggestions the market decline may have leveled off, at least between July and September, for small and...
Oct 27 2008 // The nation’s seventh largest commercial lines insurer, CNA Financial Corp., reported a $331 million net loss for the third quarter chiefly due to catastrophe claims and investment losses and said it will receive...
Oct 27 2008 // Reserving for mortgage insurance and title insurance in an economic downturn and amid a stressed real estate market can present challenges for insurers and actuaries, attendees at the Casualty Loss Reserve Seminar were...
Oct 27 2008 // Following reports that the U.S Treasury is considering adding life, bond and mortgage insurance companies to its list of beneficiaries for some of the $700 billion federal bailout package, property/casualty insurers are...
Oct 24 2008 // Like many of its property/casualty competitors, Chubb Corp. saw its third quarter profit cut by investment losses and Hurricane Ike but the New Jersey-based insurer still emerged with $264 million in net income, $300...
Oct 22 2008 // The U.S. property/ casualty industry’s reported statutory surplus at the end of the third quarter is projected to decline as much as $42 billion, or 8 percent, from the beginning of the year, according to estimates...