E&S/Specialty

The U.S. property and casualty insurance industry has a problem attracting talent and fails to make the coordinated effort needed to find a remedy, according to McKinsey & Company.

Insurance experts at an industry conference said the property and casualty sector had performed remarkably well between 2007 and 2009, three of the most challenging years for the economy in decades.

Eighteen Democratic senators have written congressional leaders and the White House urging that the final health care reform bill draft include language repealing the antitrust exemption afforded health and medical liability insurers.

Small insurers retain a sizable share of the overall property and casualty market, and many consistently outperform larger competitors, Conning Research & Consulting reported.

The Texas Property and Casualty Insurance Guaranty Association (TPCIGA), which pays covered claims when an insurer becomes insolvent, announced the re-election of Lee Ann Alexander as chair of its board of directors.

Insurance companies with finance arms and $50 billion in assets would be subject to a federal tax on liabilities under a proposal unveiled today by the Obama administration.