Ohio Insurance Director: Auto, Homeowners Rates Still Competitive
Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor says Ohio’s average auto and homeowners insurance rates are among the most competitive in the United States. The department...
View ArticleIrene’s Impact on Private Insurance Markets
The $7 billion in estimated losses from Hurricane Irene compound the vast damage caused by weather in the United States this year. Yet despite billions they’ve paid out for floods, tornadoes and...
View ArticleMarsh Advises Risk Managers As C-Suite Expectations Rise
Global insurance broker Marsh held a webcast on Sept. 21, where the firm’s analysts shared their views on the current business environment including the effects of Hurricane Irene and other...
View ArticleMarsh Says Workers’ Comp Rates Fell 1.1% on Average in Q3
Workers’ compensation rates decreased an average of 1.1 percent and a median of 1.5 percent at renewal during the third quarter, according to Marsh. The New York-headquartered brokerage firm released...
View ArticleCommercial Lines Rates Up 5% in November: MarketScout
The overall composite rate for insuring commercial accounts in the United States ticked up 5 percent in November 2012 compared to the same month in 2011. According to MarketScout’s Commercial Lines...
View ArticleW.R. Berkley’s 2012 Q4 Profit Up 41%; $40M in Sandy Loss Reported
W.R. Berkley Corp. said its 2012 fourth quarter net profit was $165.49 million, up 41.4 percent compared to the same period in 2011 when it had $117.03 million profit. For the full-year 2012, the...
View ArticleChubb to Adjust Underwriting in Northeast Post-Sandy
The Chubb Corp., which posted Superstorm Sandy-related pre-tax costs of $882 million in its latest earnings report, said there would be some adjustments to underwriting and pricing in the Northeast...
View ArticleCourt of Appeal Upholds California Commissioner’s Authority in Mercury Suit
The California Court of Appeal upheld a Los Angeles Superior Court ruling on Thursday by dismissing Mercury Insurance Co.’s lawsuit challenging Insurance Commissioner Dave Jones’ authority to decrease...
View ArticleP/C Insurers’ CFOs Point to Hardening Markets: Towers Watson Survey
Chief financial officers with leading North American property/casualty insurers believe both property and casualty insurance markets are in the midst of hardening, according to a new North American...
View ArticleReport Calls for Prior Approval for All States
Holding automobile insurance regulation in California as an example, the Consumer Federation of America issued a report on Tuesday showing that auto insurance expenditures in America rose by 43 percent...
View ArticleNortheast PIA Survey Shows Prices Rising, But at Slower Pace
In the first month of 2014, the PIA affiliates in Connecticut, New Hampshire, New Jersey and New York conducted their second-annual Market Trends Survey and found that the heralded hard market may not...
View ArticleTexas Court Approves $84.4M Settlement in Farmers Case
A Travis County, Texas district court has granted preliminary approval of a settlement with Farmers Insurance Group that will return $84.4 million to policyholders stemming from a 2002 homeowners...
View ArticleOhio Insurance Director: Auto, Homeowners Rates Still Competitive
Ohio Lieutenant Governor and Department of Insurance Director Mary Taylor says Ohio’s average auto and homeowners insurance rates are among the most competitive in the United States. The department...
View ArticleIrene’s Impact on Private Insurance Markets
The $7 billion in estimated losses from Hurricane Irene compound the vast damage caused by weather in the United States this year. Yet despite billions they’ve paid out for floods, tornadoes and...
View ArticleMarsh Advises Risk Managers As C-Suite Expectations Rise
Global insurance broker Marsh held a webcast on Sept. 21, where the firm’s analysts shared their views on the current business environment including the effects of Hurricane Irene and other...
View ArticleMarsh Says Workers’ Comp Rates Fell 1.1% on Average in Q3
Workers’ compensation rates decreased an average of 1.1 percent and a median of 1.5 percent at renewal during the third quarter, according to Marsh. The New York-headquartered brokerage firm released...
View ArticleCommercial Lines Rates Up 5% in November: MarketScout
The overall composite rate for insuring commercial accounts in the United States ticked up 5 percent in November 2012 compared to the same month in 2011. According to MarketScout’s Commercial Lines...
View ArticleW.R. Berkley’s 2012 Q4 Profit Up 41%; $40M in Sandy Loss Reported
W.R. Berkley Corp. said its 2012 fourth quarter net profit was $165.49 million, up 41.4 percent compared to the same period in 2011 when it had $117.03 million profit. For the full-year 2012, the...
View ArticleChubb to Adjust Underwriting in Northeast Post-Sandy
The Chubb Corp., which posted Superstorm Sandy-related pre-tax costs of $882 million in its latest earnings report, said there would be some adjustments to underwriting and pricing in the Northeast...
View ArticleCourt of Appeal Upholds California Commissioner’s Authority in Mercury Suit
The California Court of Appeal upheld a Los Angeles Superior Court ruling on Thursday by dismissing Mercury Insurance Co.’s lawsuit challenging Insurance Commissioner Dave Jones’ authority to decrease...
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