Commercial Lines

A.M. Best says it expects further growth for Indias insurance market, but despite increasing premiums, profitability continues to be a challenge for insurers.

Cruise operator Carnival Corp. says it has insurance coverage for damage and could face losses of up to $95 million after luxury cruise ship Costa Concordia ran aground off the coast of Italy on Jan. 13.

Property and casualty carrier employment remained flat in November 2011 relative to the month prior, and agent and broker employment in the month rose to its second-highest level in nearly two years, according to an Insurance Information Institute analysis of U.S. Bureau of Labor Statistics figures.

Australias QBE Insurance Group says a record level of catastrophe claims in 2011 prompted the company to warn investors that its profit will be down up to 50 percent.

Three-quarters of executive surveyed at the Property/Casualty Insurance Joint Industry Forum here say the industry can expect an improvement in profitability in 2012.

John M. Huff, director of the Missouri Department of Insurance, said he was proud of the response of insurance companies in the wake of the Joplin tornado last year.