Commercial Lines

Damage claims faced by German insurers for hail storms this year are almost twice the amount expected at 2.7 billion euros, a trade group said on Tuesday of a figure which will eat into sector profitability.

MarketScout CEO sees some struggling companies in the marketplace, which could spell additional rate increases for commercial lines.

Property and casualty insurers results improved sharply in 2013s first half compared to the same time a year ago, and the industry remains financially strong, but economic pressures mean carriers must achieve stronger underwriting results than in the past to remain profitable, a new analysis shows.

A month before its annual meeting in Boston, the Property Casualty Insurers Association of America has lost a key member from the same city.

House and Senate supporters of legislation to modify 2012s NFIP reform law held a meeting Monday to build momentum for prompt action to ease the impact of rate increases on affected homeowners.

The European Commission has proposed a Jan. 1, 2016 start date for new risk-capital rules for the insurance sector known as Solvency II, EU financial services chief Michel Barnier said in a statement on Wednesday.