Personal Insurance Business

• N.J. Begins Mediation Program for Unresolved Non-Flood Sandy Claims

  By Staff Writer  |  May 3, 2013

  Residents with unresolved non-flood insurance claims related to Superstorm Sandy can have their cases mediated through the American Arbitration Association, at their insurer's cost.

• AIG Q1 Profit Down $1B; P&C Underwriting Income Returns to Black

  By Chad Hemenway, PropertyCasualty360.com  |  May 3, 2013

  AIG says first-quarter net income dropped $1 billion compared to last year, as results a year ago included income from investments that have been sold or liquidated.

• 

  Florida Legislators Move Bill to Shrink Citizens Property Insurance Corp.

  By Chad Hemenway, PropertyCasualty360.com  |  May 2, 2013

  The industry is calling for Florida Gov. Rick Scott to sign SB 1770—a bill touted as yet another positive step toward stabilizing the Sunshine’s State’s property insurance market.

• 

  Allstate Execs Say Agency Plan Has Worked; Count Stabilizing

  By Chad Hemenway, PropertyCasualty360.com  |  May 2, 2013

  Allstate says controversial steps it made in an effort to improve agency performance are working.

• Allstate Q1 Profit Falls 7.4%; Home, Auto Policy Count Decline Slows

  By Chad Hemenway, PropertyCasualty360.com  |  May 2, 2013

  Nearly $360 million of first-quarter catastrophe losses drove a 7.4 percent decrease in net income for Allstate Corp.

• Through Quota Share and Run-Offs, State Auto Books $19.7M Profit in Q1

  By Chad Hemenway, PropertyCasualty360.com  |  May 1, 2013

  State Auto Financial Corp. reversed a first-quarter loss, booking net income of $19.7 million.

• Employees Buy In at Clark

  By Shannon Frech, PropertyCasualty360.com  |  May 1, 2013

  Clark Insurance has 77 employees. It also has 77 owners.

• 

  Major Misfire

  By Paul Tetrault, JD, ARM, Aim  |  May 1, 2013

  It is not surprising in the aftermath of the horrific Connecticut school shootings to see lawmakers at both the state and federal levels trying to identify new ways to curb gun-related violence. One of the more novel, if misguided, approaches has been to propose mandatory liability insurance for gun owners.

• Hanover Q1 Profit Increases 33.2%

  By Chad Hemenway, PropertyCasualty360.com  |  April 30, 2013

  Hanover received rate increases of 9 percent in core Commercial and Personal lines during the first quarter and it is seeing greater rate increases in Specialty.

• 

  Florida Lawmakers Advancing Bills to Reform Last-Resort Insurer

  By Chad Hemenway, PropertyCasualty360.com  |  April 30, 2013

  The Florida House on April 30 passed an amended version of Senate Bill 1770 to change what properties can be underwritten by Citizens Property Insurance Corp.

• Selective CEO: Insurers Need Sustained Industry-Wide Increases

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 26, 2013

  Selective Insurance Group CEO Gregory Murphy says the insurance industry needs to increase rates for as long as low interest rates continue to hurt investment yields.

• Chubb Scores Record Q1 Results

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 26, 2013

  The Chubb Corp. posted record first quarter results as net income increased 30 percent on the strength of higher rates, strong underwriting performance and low catastrophe losses.

• 

  Industry Underwriting Results Improve; 2012 Net Income Up 72.3%

  By Chad Hemenway, PropertyCasualty360.com  |  April 26, 2013

  The insurance industry lost money on underwriting in 2012 and its rate of return of 5.9 percent fell far short of its long term average. But profitability is improving.

• 

  Zuraitis Leaving Hanover to Become Horace Mann CEO

  By Chad Hemenway, PropertyCasualty360.com  |  April 25, 2013

  Marita Zuraitis, president of the P&C companies of The Hanover Insurance Group, is resigning.

• 

  West Fertilizer Plant Explosion to Cause $100M in Insured Property Losses

  By Chad Hemenway, PropertyCasualty360.com  |  April 23, 2013

  The massive explosion at a West, Texas fertilizer plant has caused at least $100 million in insured losses to property.

• Travelers Q1 Profit Up 11%; Rate Hikes Outpace Loss Costs

  By Chad Hemenway, PropertyCasualty360.com  |  April 23, 2013

  The Travelers Cos. says first-quarter net income increased 11 percent due to higher underwriting margins and lower catastrophe losses.