Personal

• Hartford Reports $241M Net Loss in Q1; P&C Net Income Up 8%

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 30, 2013

  The Hartford reports a first-quarter net loss of $241 million as its life business run-off and one-time charges dragged down earnings.

• 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.

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  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.

• House Subcommittee Chair Pushes Requirement that Lenders Accept Private Flood Policies

  By Arthur D. Postal, PropertyCasualty360.com  |  April 25, 2013

  demand by a House Financial Services subcommittee chairman that bank regulators move quickly to impose a rule requiring mortgage lenders to accept private flood insurance is prompting a split in the insurance industry.

• Fitch: Limited Impact on Chinese Insurers from Sichuan Quake

  By Staff Writer  |  April 25, 2013

  Fitch Ratings does not expect the April 20 earthquake in China to have a significant impact on Chinese insurers' financial performance or solvency position.

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  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.

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  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.

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  Florida Judge Lifts Stay of PIP Injunction

  By Chad Hemenway, PropertyCasualty360.com  |  April 22, 2013

  A Florida judge has lifted a stay of a temporary injunction of certain provisions within a landmark auto insurance reform bill adopted last year.

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  NJ, NY Insurers Settle 93% of Superstorm Sandy Claims

  By Arthur D. Postal, PropertyCasualty360.com  |  April 22, 2013

  Superstorm Sandy is now the third costliest storm in U.S. history, the Insurance Information Institute says.

• New York, QBE Reach Settlement on Force-Placed Policies

  By Bonnie Cavanaugh, PropertyCasulaty360.com  |  April 18, 2013

  QBE Insurance Corporation has agreed to pay $10 million in restitution to New York homeowners it required to buy force-placed insurance as part of a settlement with the New York State Department of Financial Services.

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  Massive Texas Plant Explosion Destroys Houses, Cars, Apartment Complex, School

  By Chad Hemenway, PropertyCasualty360.com  |  April 18, 2013

  Insurance adjusters are already on their way to an area near Waco, Texas affected by an enormous blast at a fertilizer plant Wednesday night that sent a mushroom cloud into the sky.

• California Regulators Guide Insurer Through Demutualization, Acquisition

  By Arthur D. Postal, PropertyCasualty360.com  |  April 18, 2013

  California insurance regulators have been able to shore up a mutual California homeowner’s insurer weakened by the housing bust through a complex mutual-to-stock conversation.

• Allstate Expects Q1 Catastrophe Losses of About $360M

  By Chad Hemenway, PropertyCasualty360.com  |  April 18, 2013

  The Northbrook, Ill.-based insurer says it incurred pretax catastrophe losses of $198 million for the month of March.

• Insurer Aviva to Cut 2,000 Jobs Worldwide

  By Anjuli Davies, Reuters, Sinead Cruise, Reuters  |  April 18, 2013

  British insurer Aviva Plc will cut as many as 2,000 jobs worldwide in the latest cost-cutting drive aimed at revitalising its flagging fortunes, the company confirmed on Thursday.