All the headlines from our Property Casualty Topic Page, ordered by recency.
Nov 9 2001 // Standard & Poor’s removed from CreditWatch and lowered its counterparty credit and senior debt ratings on Chubb Corp. to “AA-” from “AA+”, its preferred stock rating to “A”...
Nov 2 2001 // The Hartford Financial Services Group Inc. reported an operating loss of $52 million for the third quarter of 2001, reflecting a $440 million loss related to the Sept. 11 terrorist attack. The results also reflect a $130...
Nov 2 2001 // Iowa-based Acceptance Insurance Companies Inc. reported an after-tax net loss of $9.5 million, or $0.66 per share, for the third quarter of 2001. The company’s continuing crop insurance operations generated an...
Oct 29 2001 // As the California Legislature wound up its 2001 session in mid-September, two workers’ compensation-related bills awaited their fate on the desk of Governor Gray Davis.AB 1183: CIGA Premium Surcharge In the case of...
Oct 25 2001 // In response to SAFECO’s recently announced loss reserve strengthening, A.M. Best Co. continues to maintain a negative outlook on the property/casualty operations’ financial strength rating of...
Oct 25 2001 // Great American Insurance Company now offers notary bonds and error and omission insurance for purchase online in Utah through its ElectronicSurety website.Low rate notary bonds are also available in Texas, Michigan,...
Oct 24 2001 // Cincinnati, Ohio-based The Midland Company, a highly focused provider of specialty insurance products and services, reported third quarter 2001 results ahead of its previous announcement.For the quarter ended Sept. 30,...
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
Oct 22 2001 // Property and Casualty insurers, already wary of terrorism before the September 11 attack, are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast...
Oct 18 2001 // The Ohio Department of Insurance ordered 23 property and casualty companies to pay money owed to insurance customers and submit corrective actions plans after market conduct examinations revealed that the companies were...
Oct 16 2001 // Requiring property/casualty insurers to have medical treatment claims reviewed by third party examiners is unnecessary, counterproductive and could raise the cost of insurance for Iowa consumers, according to the...
Oct 16 2001 // Aon Corporation will expand its underwriting operations to include direct property and casualty insurance and reinsurance policies, the company announced on Oct. 12. This coverage will be provided in addition to existing...
Oct 15 2001 // San Diego-based Golden Eagle Insurance announced in September that it would cease offering new policies for homeowners and dwelling fire in California. The company also sells insurance in neighboring Arizona, but this move...
Oct 8 2001 // The Hartford Financial Services Group Inc. plans to raise equity capital to replace its estimated $450 million reduction in shareholders’ equity from the World Trade Center disaster of Sept. 11. The company plans to...
Oct 8 2001 // Carrying on with business after the tragic terrorist attacks on Sept. 11, the National Association of Independent Insurers (NAII) will hold its 56th annual meeting in New Orleans Nov. 4-7 as scheduled.Speakers at the...
Sep 28 2001 // Erie Indemnity Company announced that its share of catastrophe losses stemming from the tragic attacks of September 11th is expected to amount to between $5.5 and $6.7 million before federal income taxes. The after-tax...
Sep 27 2001 // Ohio Department of Insurance Director Lee Covington issued a reminder Sept. 20 to current property and casualty license holders that beginning Oct. 9, they will no longer be authorized to solicit or sell surety bail bonds...
Sep 27 2001 // Liberty Northwest Insurance Corporation has announced the intended purchase, pending regulatory approval, of Oregon Auto Insurance Company, along with its subsidiary North Pacific Insurance Company.As two of the largest...
Sep 26 2001 // As part of its ongoing effort to help customers recover from last week’s tragic events, The Hartford Financial Services Group is temporarily extending premium insurance payment periods to customers unable to pay...
Sep 26 2001 // Fitch completed the initial phase of its ratings review of insurance and reinsurance companies exposed to losses from the terrorist attacks of Sept. 11 in the United States.Findings have been issued on 16 insurance...