All the headlines from our Property Casualty Topic Page, ordered by recency.
Jun 6 2022 // A mid-year update on the commercial property/casualty market from USI Insurance Services is the latest to report rate stabilization in most lines of business – except for cyber.The cyber insurance market “continued...
Jun 6 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021.The P/C industry posted a $5.2...
May 31 2022 // AM Best reported Friday that first-quarter net underwriting income for the U.S. property/casualty industry rose 4.6% to $3.3 billion.Explaining the result, AM Best said that a 10.5 percent jump in net earned premiums and a...
May 26 2022 // Full-year net income for U.S. property/casualty insurers increased slightly to $61.9 billion from $60.3 billion in 2020, but the industry turned in a $3.8 billion underwriting loss in 2021.The P/C industry posted a $5.2...
May 25 2022 // China’s ruling Communist Party has expelled a former chief accountant of state-controlled PICC Property and Casualty Co. from the party, accusing him of illegal activities and taking bribes, the anti-graft watchdog...
May 18 2022 // DOXA Insurance Holdings Names Joe Guerrero as PresidentDOXA Insurance Holdings named Joe Guerrero as its president. Guerrero has more than 30 years of experience in the insurance industry specific to MGAs, MGUs, and...
May 2 2022 // Workers’ compensation continues to be the shining star in the property/casualty insurance market. Despite a 9% decline in direct premiums written to $44.3 billion, and a combined ratio in 2020 (91.1%) that was just a...
Apr 29 2022 // Amid growing concerns about the health of Florida’s property insurers, the state’s largest carrier posted a somewhat mixed bag of financial results for the first quarter of 2022. But the company said it has...
Apr 26 2022 // Chubb said first quarter 2022 net income fell to $1.97 billion compared with $2.3 billion during the same time a year ago but property/casualty underwriting income during the period shot up 106% to a record $1.3...
Apr 6 2022 // Lockton promoted Ted Brown to president of property/casualty for the Mountain West region.Brown will focus on client experience and growing Mountain West’s P/C business. He joined Lockton in 2007.Lockton is an...
Apr 5 2022 // Alliant Insurance Services promoted Peter Arkley to president of its retail property/casualty operations.Arkley will lead Alliant’s retail P/C operation to leverage the strength of its Specialty. Arkley joined...
Apr 4 2022 // Thai Finance Minister Arkhom Termpittayapaisith has revoked the insurance licenses of two companies — Southeast Insurance Pcl and Thai Insurance Pcl — controlled by billionaire Charoen Sirivadhanabhakdi.The...
Apr 4 2022 // The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses in Ukraine and beyond.Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other nations....
Mar 25 2022 // The Russian invasion of Ukraine may result in cyberattacks causing widespread and severe losses, in those nations and beyond.Even before the current invasion, some Russian cyberattacks aimed at Ukraine spread to other...
Mar 7 2022 // Burns & Wilcox Adds Tameka Livatino and Erin Pritchett to Professional Liability Practice GroupBurns & Wilcox has named Tameka Livatinoas underwriting director of architects and engineers, based in Chicago. With...
Mar 7 2022 // U.S. commercial insurance prices rose again in the fourth quarter of 2021, according to WTW’s latest Commercial Lines Insurance Pricing Survey (CLIPS).The aggregate commercial price change reported by carriers was...
Mar 7 2022 // Insurance rating agency AM Best said it expects the U.S. property/casualty insurance industry to record an increase in surplus in 2021 thanks to investment income and capital gains improvements despite booking an...
Mar 4 2022 // The Russian invasion of Ukraine has increased the risk of cyberattacks and potential claim costs for property/casualty (P/C) insurers globally that offer cyber coverage, the majority of which is underwritten in North...
Mar 2 2022 // North Haven-based Trager Reznitsky Insurance has acquired the property/casualty business of another Connecticut independent agency, Stronghold Insurance LLC, in Shelton.This is the first acquisition for Trager Reznitsky...
Mar 1 2022 // Erie Insurance Names Jorie Novacek as Senior Vice President and ControllerErie Insurance has named Jorie Novacek as the company’s new senior vice president and controller, effective March 3. Novacek, who currently...