Buyers of marine insurance are likely to see a continuing softening of insurance rates in 2011, provided they can show they are a good risk, according to a report released by insurance broker Marsh.

Buyers of marine insurance are likely to see a continuing softening of insurance rates in 2011, provided they can show they are a good risk, according to a report released by insurance broker Marsh.

Based on property and casualty companies’ pre-announcements and other data, losses from the Feb. 22 New Zealand earthquake damages could be as much as three-times worse than the September quake in the same region, Morgan Stanley said.

Hannover Re said its fourth-quarter net income rose 22 percent despite a year plagued by natural catastrophe losses that were above the company’s loss estimate.

Omega Insurance Holdings Ltd. Chairman John Coldman said he and CEO Richard Pexton got a “baptism by fire” since they joined the company, as the Bermuda-based insurer and reinsurer posted a $42.8 million 2010 loss.

Executives are operating in a new market environment, and their strategy for the future is to concentrate on growth and experiment with the possibilities of technology, according to a survey of chief information officers.

In the third part of this series, PropertyCasualty360.com technology channel editor Bob Hyle continues the conversation with a pair of vendors in the insurance software space to gauge their opinions on carrier weaknesses, project management, and their partnership with carriers.

The Travis County district attorney in Texas is now involved in an investigation of the state’s last-resort insurer, the Texas Windstorm Insurance Association.