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A Chartis client with a Ferrari Enzoone of 400 madewas driving too enthusiastically and put it into a wall, says Ron Fiamma, vice president and director of private collections with Chartis Private Client Group. The claims adjusters determined the vehicle was a total loss and were ready to write a...
Martin Hartley
For high-net-worth clients, it is highly recommended to combine all vehiclesclassic cars and regular-use vehicleson one policy.
staff Writer
Lexington Insurance Co., a Chartis company, has introduced a new coverage to reimburse colleges and universities for the loss of tuition incomes when an enrolled international student withdraws due to a catastrophe at home.
Mark E. Ruquet
New York-based insurance broker Integro says its revenues in 2011 increased 21 percent to $101 million.The privately held firm says the revenue gain is similar to gains it made in 2010.
Bryant Rousseau
For independent agents and brokers looking to break into the Classic Car niche, one of the best bets is to attend a local event for enthusiasts of the hobby.
staff Writer
Zurich Financial Services Group says its 2011 fourth-quarter net income fell 46 percent to $557 million, but the companys net income for the year climbed 10 percent to $3.8 billion.
Mark E. Ruquet
Develop a specialty in the insurance business and you will never have to worry about staying employed, Patrick G. Ryan, founder and former chief executive of the insurance-brokerage firm Aon, declared during a Feb. 16 address in New York.
Bryant Rousseau
Who says reports on the P&C industry dont invite great, visual storytelling?
Kerstin Braun
Today, the greatest risk facing companies is credit riskthe risk that a customer will go bankrupt owing a lot of money. Thats where Credit insurance comes in.
While an unabashed love of classic cars is what really drives collectors to spend millions or even tens of millions on the hobby, the purchasesin addition to providing ego boosts and adrenaline rushesoften prove to be good investments as well.
Michael Stanley, Phil Gusman
If the Hartford decides to split its P&C and Life operations, as proposed by a hedge-fund manager who owns an 8.4 percent stake in the company, the P&C operations would have a more favorable credit outlook than would the Life operations alone, according to Moodys Investors Service.
Just how big is the Classic & Collectible Car niche? No one is quite sure, with estimates of annual premium ranging from $500 million to $2 billionalthough the majority of industry experts feel $1 billion is a pretty accurate estimate.
Bryant Rousseau
Given that most classic & collectible cars spend far more time ensconced in (often custom-designed) garages than they do cruising through traffic, it should come as no surprise that many claims stem from incidents that occurred on the insureds own property.
As Florida officials came to realize they had a serious overexposure problem with Citizens, the states insurer of last resort, the legislature took steps in 2007 to depopulate Citizens: The law written then, still on the books, permits admitted depopulation companies to take approved batches of policies.
Robert Regis Hyle
The great savior for mid-tier and smaller insurance carriers in the past decade has been the Internet. Regional insurers could suddenly do business in the same manner as national carriers, and customers found it nearly impossible to distinguish between the two.
Mark E. Ruquet
A culture clash between Willis Group Holdings and Hilb, Rogal & Hobbs (HRH), acquired in 2008, led to a significant amount of business lost in North America, contributing to a 57 percent drop in net income for Willis 2011 fourth quarter.
Laura Mazzuca Toops
One state, two states, red states, blue states: When it comes to what small-business owners are looking for in a presidential candidate, party affiliation doesnt seem to count for much.
Bryant Rousseau
Its not only carriers with a focus on high-net-worth clients and classic-car managing general agents that cater to this niche of business; the auto-insurance giants are players as well.
Mike Jackowski
P&C insurers have had a taste of doing business in 2012, and they realize they are dealing with a tough environmentone in which little or no organic customer growth exists to fuel corporate growth. Gaining market share means taking it away from someone else, so the level of competitiveness in...
Arthur D. Postal
Chartis companies have been able to retain 90 percent of their customers despite the economic turmoil American International Group has endured since 2008, AIG CEO Robert Benmosche said at a mid-February investment conference in Manhattan.
Chad Hemenway
Throughout the country surplus-lines carriers are being affected by newly enacted and proposed legislation, but a measure being mulled in Florida is looking at these unregulated high-risk writers to help save the states residential market.
Bryant Rousseau
How are Classic & Collectible Car policies different from Standard Auto plans? Three key characteristics make this line of insurance unique.
Bryant Rousseau
Although many collector cars are of the type that call out for pedal-to-the-metal speedsFerraris, Lamborghinis, Maseratisinsurers are, not surprisingly, touchy about these six-, seven- and even eight-figure vehicles competing on the racetrack.
Arthur D. Postal
Officials of the American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) are describing as significant the outcome of China-U.S. trade-related insurance talks.
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