E&S/Specialty

The property and casualty industrys positive rate momentum continued into the New Year as rates crept up another 1 percent in January, according to the online insurance exchange MarketScout.

Validus Holdings, Ltd. says fourth-quarter net income available to shareholders fell over 73 percent to $27.3 million as insured losses from catastrophes continued to take their toll.

Winston-Salem, N.C.-based bank BB&T Corp. has acquired Roseland, N.J.-based wholesale-insurance broker Crump Group Inc.

A nonprofit organization and its directors and officers face similar risks as a for-profit board of directors, and might have more to lose. But more and more, for a variety of reasons, nonprofits seem to realize the exposures.

A nonprofit organization and its directors and officers face similar risks as a for-profit board of directors, and might have more to lose. But more and more, for a variety of reasons, nonprofits seem to realize the exposures.

As cyber risks increasingly become a top-of-mind issue for a wide spectrum of businesses, the market for policies is wide openand the competition intense.

ACE Limited says 2011 fourth-quarter net income declined 25 percent to $750 million, as catastrophe losses more than doubled compared to the 2010 fourth quarter, when net income was $1 billion.

Greenwich, Conn.-based insurer W.R. Berkley says 2011 fourth-quarter net income was down 7 percent, but its chief executive says rate increases are taking hold and 2012 should be a better year.