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Catastrophe modeling firms' hurricane damage predictions overestimated insured losses for a second year, according to a catastrophe prediction consulting firm.
Progressive reported a profit for fourth quarter 2009 as net premiums earned increased 27 percent for the last month of the year and the company's combined ratio dropped eight points.
Florida has less chance of being hit by a hurricane this year, while the coastal segment including North Carolina, South Carolina and Georgia will see heightened storm activity, a new study forecasted.
The Nevada Division of Insurance announced it has redesigned and added new features to its Web site in an effort to promote ease of use for consumers and regulated entities.
General Re Corp. has settled charges for $12.2 million that it aided schemes by American International Group and Prudential Financial, Inc. to falsify financial reports, the Securities and Exchange Commission announced.
Insurance Services Office said that upcoming revisions to the manual it uses to rate fire department capabilities have been endorsed by Jeff Johnson, International Association of Fire Chiefs president and chairman.
The U.S. property/casualty insurance industry has a problem attracting talent and fails to make the coordinated effort needed to find a remedy, according to McKinsey & Company.
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