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Daytona Beach, Fla.-based insurance broker Brown & Brown reports first-quarter net income increased 5 percent, thanks in part to more than $30 million in acquired revenue for the quarter.
State Farm says it has received more than 15,000 claims from the storms; North Carolina Farm Bureau Insurance says it is treating the aftermath the same as a hurricane.
AXIS Capital Holdings’ expected financial impact of $285 million from the March 11 Japan earthquake and tsunami headlines the latest round of loss estimates from Bermuda companies.
AXIS Capital Holdings’ expected financial impact of $285 million from the March 11 Japan earthquake and tsunami headlines the latest round of loss estimates from Bermuda companies.
The insurance industry’s interests on the Financial Stability Oversight Council (FSOC) are “inadequately represented” because of the council’s policies, the National Association of Insurance Commissioners (NAIC) told a congressional panel.
Insurers are beginning to size up the extent of damage left in the wake of storms that produced dozens of tornadoes that struck several Central Plains states, hail that caused damage in Texas, and strong winds and lightning in Georgia.
The earthquake in Japan and two other major losses for insurers have put the brakes at least for now on the soft-market pricing trend in the energy-insurance market, says a report from Willis Group.
The value of insurance-linked-securities (ILS) placements increased by more than half in the 2011 first quarter as four insurers placed more than $1 billion in bonds in the market, according to a report from Willis Group.
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