PropertyCasualty360: Property & Casualty Insurance News & Tips

State of Prosperity

Chad Hemenway

While insurance agencies in most parts of the country are enduring mighty tough times, some producers in North Dakota are so busy they have to turn away new business.
Man’s Best Friend—or Missile?

Christine G. Barlow

It has long been said that dog is mans best friend, and many people feel that way about their family pets. They are so attached to their pets, in fact, that they frequently take them along with them in the carand its not just a ride to the vet. Theyre...
Insurance Advertisement Power Rankings

Bryant Rousseau

For much of the year, Sundays are a time when I try to take advantage of New Yorks cultural offerings by heading to museums. But on Sundays in late January, I change gears and unashamedly glue myself to my television set to watch the NFL playoffs (Go Patriots!). This means...
4 Trending Risks for Recession-Recovering Restaurants

Bill Shea

During the recession, restaurants lost millions of customers who were cutting back on discretionary spending. Now many dining establishments are rebuilding their businesses, sometimes by trying new techniques and offering different services.
At Joint Industry Forum, Execs Express Optimism About 2012 Profits

Chad Hemenway

Three-quarters of executives surveyed at the Property/Casualty Insurance Joint Industry Forum in New York say the industry can expect an upswing in profitability in 2012.
The Council Says FIO Should Pressure States on Regulatory Issues

Arthur D. Postal

The Council of Insurance Agents and Brokers is urging the Federal Insurance Office (FIO) to use its authority to change the current insurance-regulatory system, either through the states or through federal means.
Opioid Use a Growing Epidemic in Workers’ Comp

Sherri Hickey

Opioid misuse and abuse is a huge problem in the Workers Compensation field, contributing to an increase in deaths and medical costs.
GAO Report on RRGs Not Helpful, Says Risk Expert

Arthur D. Postal, Caroline McDonald

While the recent Government Accountability Office (GAO) report on risk-retention groups (RRGs) recommends that Congress pass legislation clarifying certain provisions of the Liability Risk Retention Act (LRRA), it doesnt go far enough, according to one industry expert.
Survey Reveals Agents Desire More Carriers With Real-Time Capabilities

staff Writer

Independent agents and brokers place the highest priority on getting more insurance carriers to offer real-time interface functionality to ease workflow issues in their agencies, according to a recent Real Time/Download Campaign survey.
Stronger P&C Players to Pull Away from Pack in 2012: KBW

Chad Hemenway

Global investment bank Keefe, Bruyette & Woods (KBW) says P&C insurance companies may not see improvements in earnings per share or return on equity in fourth-quarter earnings, but theres a silver lining for some companies.
Social-Services Profile: Canfield Insurance Solutions

Bonnie Cavanaugh, E&S Editor

Market conditions for insurance in the nonprofit sector have shown sure signs of a hardening over the past six months, with prices stabilizing overall and slowly inching upward for some classes of risk.
Risk Management Enters Everyday Business Lexicon

Caroline McDonald

An increasing emphasis on enterprise-risk management in the corporate world is reflected in the higher-education sector, with more courses and research exploring the concept at universities with established RM programs.
When Calculating Risk for Reinsurers, Consider Monte Carlo

Randy Heffernan

In the world of reinsurance, accurately determining risk is critical. Reinsurance policies are typically taken out on the largest of risks, those that are too big for an individual insurance company to handle alone. Risk embodies the very nature of the business, and actuaries who work in reinsurance must therefore...
Tightening Underwriting and Carriers Courting Independents Seen as Top Trends

propertycasualty360

To gain some producer-level perspective on the outlook this year for the P&C business, NU speaks with some major players across the agent & broker spectrum to discover where the greatest opportunitiesas well as the most daunting challengeslie in the year to come.
‘Enterprise’ Approach to Risk Management Dominates Courses, Research at Universities

Caroline McDonald

An increasing emphasis on enterprise-risk management in the corporate world is reflected in the higher-education sector, with more courses and research exploring the concept at universities with established RM programs.
Market-Hardening Signals Have Social-Service Insurers Breathing a Sigh of Relief

Bonnie Cavanaugh, E&S Editor

Market conditions for insurance in the nonprofit sector have shown sure signs of a hardening over the past six months, with prices stabilizing overall and slowly inching upward for some classes of risk.
Guy Carpenter: Reinsurers Were Better Prepared for 2011 Cat Losses than in 2005

Caroline McDonald

The reinsurance industry this past year weathered near-record catastrophe losses, catastrophe-model changes and the pressures of a challenging macroeconomic environmentbut unlike 2005, reinsurers were prepared in 2011, according to a report by Guy Carpenter.
Missouri Director Huff Recalls Insurers’ Actions Following Joplin Tornado

Chad Hemenway

John M. Huff, director of the Missouri Department of Insurance, was in Washington, D.C., when a massive, destructive tornado tore through Joplin, Mo.
Businesses See Economy as Greatest Risk in 2012, Two Studies Say

Phil Gusman, Mark E. Ruquet

Economic risk is the top concern on business professionals minds going into 2012, according to two new, separate surveys conducted by Allianz Global Corporate & Specialty (AGCS) and the World Economic Forum.
London Calling: Aon Plans to Move Headquarters, Moody’s Gives OK

Mark E. Ruquet

Aon says it plans to move its corporate headquarters to London to be closer to the Lloyds market, but the move will not result in the loss of any jobs in the Chicago area.
Vermont Reports 41 New Captives in 2011

Caroline McDonald

Vermont increased its number of captive-insurance companies in 2011 from the two previous years as the state continues to see growth in that industry, capturing six captives that were domiciled elsewhere.
Sunken Carnival Cruise Ship Creates Waves of Insured Losses

Chad Hemenway

Cruise operator Carnival Corp. says it has insurance coverage for damage and could face losses of up to $95 million after the luxury cruise ship Costa Concordia ran aground off the coast of Italy on Jan. 13.

National Underwriter Property & Casualty-January 23-30, 2012

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