PropertyCasualty360: Property & Casualty Insurance News & Tips

Can Insurance Save Us From Climate Change?

Brian Thomas

Insurance is a major part of how we attempt to better deal with riskbut can it lead us to more viable ways to address climate issues?
Reports Show P&C Capital Declining, But Still Strong

Phil Gusman, Mark E. Ruquet

Property and casualty excess capital remains robust, although it has declined since July 2010, an analysis shows, while a separate analysis strictly on reinsurers shows a 6 percent decline in capital for the 2011 first quarter as companies contend with, among other issues, insured catastrophe losses.
A Question Of Ethics: A Producer’s Responsibility To Recommend Coverage

Peter R. Kensicki

In most states an insurance agent has no legal duty to recommend coverage to an applicant for insurance unless the agent, in some manner, assumes that duty (see “Special Circumstances May Mean Agents, Brokers Owe Greater Duties To Clients,” April 18, 2011 edition of NU). But the question for this...
The Best Of Both Worlds: Print & Digital Editions of NU

Bryant Rousseau

The odds are good that as you’re reading this, you’re holding in your hands a printed copy of NU. And if you’re anything like me, you still get a small but real thrill when one of your favorite magazines arrives in the mail.
Industry Begins To Get Picture Of Ariz. Wildfire Losses

Mark E. Ruquet

Insurers are beginning to see claims as evacuation orders are lifted and residents return to their homes in Arizona while two major wildfires continue to consume thousands of acres in the state.
Dealing With Disaster: Joplin, Mo. State Farm Agent Describes Her Response To Killer Tornado

Bryant Rousseau

A Joplin, Mo.-based State Farm agent describes how her agency has been dealing with this enormous catastrophe—and the profound impact it has had on her clients.
Reports Show Continued Soft Market; Signs Of Change

Chad Hemenway, Susanne Sclafane

As one property and casualty industry report points to rising combined ratios for insurers, with experts citing the need for better underwriting results, a separate analysis of first-quarter industry figures indicates the commercial-lines market may be starting to turn.
Aon Benfield: U.S. Storm Losses To Total $15 Billion; Company Estimates Continue

Chad Hemenway, Phil Gusman

As more insurers begin to make second-quarter loss estimates from tornado-spawning storms that ravaged parts of the U.S. in April and May, Aon Benfield says insured losses for the two months are nearly triple the annual average over the last 20 years.
Wal-Mart Class Action Decision A ‘Strong Blow’ To Plaintiffs’ Bar

Arthur D. Postal

The Wal-Mart class-action-lawsuit decision by the Supreme Court last week was a likely “strong-blow to the plaintiffs’ class action bar,” according to attorneys at an international law firm.
Pandemic Prep, Wildfires Among Biggest Challenges For Ariz. Utility Risk Manager

Caroline McDonald

As director of risk management services for the Tucson Electric Power Co., Karl Zimmel has had his share of challenges, the latest being the massive wildfires in Arizona, which have charred hundreds of thousands of acres and come dangerously close to several of TEP’s facilities.
Twisters Likely to Turn Homeowners’ Rates Up

Chad Hemenway

Just several weeks into June, this year is already guaranteed to be the costliest for U.S. insurers since 2008 as a trend of inland catastrophes continues. As a result, homeowners’ insurers are looking to increase rate to match the risk.
Growing World of Amateur Athletic Leagues, Sports Camps Provide Solid Biz Opportunities

Bonnie Cavanaugh, E&S Editor

Thanks to the ever-increasing popularity of youth sports--and the desire of kids of all ages to stay fit and have fun--the amateur-athletics market is a relatively healthy segment of the property/casualty arena, providing areas of opportunity for agents experienced in this field to grow their business.
N.Y., Fla. Act On Commercial Dereg Bills

Chad Hemenway

New York lawmakers have sent to the governor a commercial-deregulation bill that allows insurers to go to market with some policies before regulatory approval, while Florida Gov. Rick Scott has signed into law a commercial-dereg bill in that state.

National Underwriter Property & Casualty-June 27, 2011

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