Commercial Lines

Negative implications of Nationwide Mutual Insurance Companys planned acquisition of Harleysville Mutual Insurance Company, including increasing Nationwides catastrophe exposure, offset the positives the company will see through improved diversification, according to Moodys Investors Service.

John R. Coomber, a Swiss Re director who has consistently identified climate change as a significant risk, will become the new chairman of ClimateWise, the global insurance industrys leadership group formed to reduce the risks of climate change.

Two major global insurance brokers and an international insurer are using three different techniques to grow their businesses through relationships with smaller brokers and agencies.

Catastrophes caused significant 2011 first-half underwriting losses for U.S. property and casualty insurers, driving the industrys net income for that time period down 67 percent to $6.9 billion relative to the year before, according to an A.M. Best Special Report.

After making two landfalls on China, insured losses from Typhoon Nesat are expected to remain below $50 million due to low levels of damage and low insurance penetration, according to catastrophe modeler Eqecat.

Catastrophe-exposed risks showed the greatest premium rate increases across the world for the third quarter, coming in at approximately 10 percent, but otherwise insurance rates have remained stable, according to a report from insurance broker Marsh.