Commercial Lines

The Hartfords 2011 fourth-quarter net income plummeted 79 percent to $127 million on current and prior-year reserve strengthening.

A magnitude 6.7 earthquake that struck the Negros-Cebu region of the Philippines yesterday is not expected to be a major insurance loss says catastrophe modeler AIR Worldwide.

According to a Towers Watson survey, commercial lines carriers are looking to tighten the gap between them and their personal lines peers when it comes to the use of predictive modeling.

Catastrophe losses in 2011 led to the U.S. property and casualty industrys largest underwriting loss since 2002, and while 2012 should see a modest improvement in pricing, a true hard market is likely at least a year or two away, according to A.M. Best.

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.