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Phil Gusman, Mark E. Ruquet
Catastrophe losses in 2011 led to the U.S. P&C industrys largest underwriting loss since 2002, according to A.M. Best. And while the latest MarketScout barometer shows that 2012 began with another month of commercial-lines rate increases, Best maintains that a true hard market is likely at least a year or...
After a rough, cat-filled 2011, how do commercial-lines carriers feel about 2012? NU asked several key players for their perspective on which lines offer new opportunities; how they will expand their distribution channels; where carriers will be investing; and how they will handle relationships with risk managers as the...
Bryant Rousseau
In a unique and ambitious effort to encourage top young talent to consider a career in insuranceand with the companyState Farm recently hosted its second-annual College Marketing & Sales Competition program, which attracted 16 students from eight universities across the country who vied for thousands of dollars in cash prizes.
Mark E. Ruquet
Satisfaction with auto claims was virtually unchanged on a quarter-to-quarter basis despite the increase in insurance claims due to weather-related damage during 2011s fourth quarter, according to a consumer survey.
Mark E. Ruquet
In an environment of rapidly evolving risks, merely anticipating risk is not enough: Organizations also need to focus on building resilience to effectively manage risk and to position themselves for long-term sustainability, says the chief executive of Willis Group Holdings.
Mark E. Ruquet
Arthur J. Gallagher (AJG) kicked off the fourth-quarter earnings report season for insurance brokers by saying that its net profit dropped 18 percent, primarily due to increased expenses. But the Itasca, Ill.-based insurance-brokerage firm says earnings are on the rise.
Mark E. Ruquet
Winston-Salem, N.C.-based bank BB&T Corp. has acquired Roseland, N.J.-based wholesale-insurance broker Crump Group Inc.
Arthur D. Postal
The much-awaited Federal Insurance Office (FIO) report on reforming and modernizing state insurance regulation, mandated by Dodd-Frank, likely will not be unveiled until the end of this month or early March.
Arthur D. Postal
Starr International and its Chairman and Managing Director Maurice Hank Greenberg have amended a lawsuit against the federal government to claim that the terms of federal aid to AIG starting in 2008 amounted to an attempt to steal the business.
Melissa Stewart
When you play with glass, you may get cut. When you commit fraud, you get caught. Thats what Michael Swedo has learned.
Caroline McDonald
To meet the needs of C-suite execs, always balance risk with returnand go (way) beyond insurance to support strategic objectives.
Bryant Rousseau
Bryant Rousseau speaks with Mike Davidson, State Farms recently retired vice chairman and chief marketing and agency officer, and SVP Rand Harbert, who succeeded Davidson as leader of the companys nearly 18,000 agents.
Caroline McDonald
As details of the hacking of VeriSign unfold, government entities and corporations of all sizes are becoming more aware of their own vulnerabilities, according to one technology expert.
Chad Hemenway
BERMUDAS PartnerRe Ltd. says it recorded a 2011 fourth-quarter net loss of $17.6 million and a net loss for the year of $520.3 million, down from a profit of $852.6 million in 2010.
Rebecca Amoroso, sam friedman
These are extraordinarily difficult times for insurers to grow their business, with the United States and Europe struggling to jump-start their economies and a double-dip recession still not out of the question.
Mark E. Ruquet
Over $3 billion in losses for the mining-insurance industry has resulted in a decrease of 30 percent of insurance capacity in the line, says a report from Willis Group Holdings.
Phil Gusman
The state of the economy and developments in states implementation of the federal excess and surplus lines reform law will be two topics on the minds of National Association of Professional Surplus Lines Offices (NAPSLO) members as they gather for the organizations 2012 Mid-Year Leadership Forum.
staff Writer
Nearly 520,000 claims disputes valued at more than $2.4 billion were resolved by arbitration in 2011a new record, says Arbitration Forums Inc.
Arthur D. Postal
The P&C insurance industry is supporting legislation that would alter patent law to allow for the use of parts not made by the manufacturer in repairing damaged vehicles.
Mark E. Ruquet, Chad Hemenway
Allstate Corp. saw its fourth-quarter net income jump 145 percent, while W.R. Berkley, ACE Limited, CNA and Validus reported Q4 net-income decreases along with global reinsurer Munich Re.
Dominick Zenzola
In todays global business climate, in which the pursuit of opportunity results in increased employee travel to some of the most dangerous regions of the world, agents and brokers have an opportunity to mitigate their clients risks by providing them with a comprehensive business-travel accident-insurance plan.
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Copyright © 2023 ALM Global, LLC. All Rights Reserved.
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