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Chad Hemenway
State Farm said it posted an underwriting loss in its auto insurance business of $2.8 billion in 2010, but improvement in the property and casualty segment overall drove a 200 percent increase in net income for the year.
Dave Lenckus
Is a construction defect an occurrence covered by a commercial general liability policy? That’s the key question for homebuilders and contractors facing Chinese drywall damage claims. The insurance and liability issues are becoming increasingly complicated by conflicting state court rulings over the lingering coverage question.
Arthur D. Postal
Signs are emerging that the sigh of relief by large insurance companies that they escaped federal oversight in the post-aig-bailout world may have been premature.
Bonnie Cavanaugh, E&S Editor
Construction-insurance pros see some signs for market improvements in 2012 and 2013, as the economy recovers and projects continue in key industries, such as health care and education. A second round of stimulus funding would also help.
Chad Hemenway
Losses from a magnitude 6.3 earthquake that struck Christchurch, New Zealand Feb. 21 (Feb. 22 local time) could total as much as $12 billion, according to one estimate cited in a note to clients from a JP Morgan Chase & Co. analyst.
Phil Gusman
In a soft market, excess and surplus-lines executives have managed to identify some growth areas and have found the time ripe for technology investments and recruiting talent. But survival demands innovation.
Mark E. Ruquet, Chad Hemenway
While American International Group reported a 2011 fourth-quarter net profit of more than $11 billion, its property and casualty subsidiary Chartis came in with an underwriting loss of $5.2 billion, primarily because of its reserve charge.
Caroline McDonald
Governor Chris Christie signed into law legislation that enables New Jersey to license and regulate captive insurance companies, creating a new industry in the state.
Kevin Stipe
Privately held brokers looking to make acquisitions in 2011 will need to make a strong showing in the four factors key to winning any deal, according to Kevin Stipe of Reagan Consulting.
David Thamann
David Thamann discusses two scenarios in which he believes “accidental” faulty workmanship on the part of the named insured should be covered under a CGL policy.
Bryant Rousseau
Whether you’re an actor, an athlete or an editor, it’s never easy to follow a legend. And after a 29-year career at NU, I don’t think there’s any doubt that Sam Friedman, our former editor-in-chief, qualifies as an industry icon.
Arthur D. Postal
A House hearing has been scheduled for March 9 on the status of the National Flood Insurance Program amid signs that legislation reauthorizing the program that passed the House last year will soon be re-introduced—albeit with some changes sought by the industry.
Caroline McDonald
The antics of major Hollywood actor Charlie Sheen have resulted in the cancellation of a multimillion-dollar production and put an entire cast and crew out of work, begging the question: Can this actor still be insured?
Chad Hemenway
The Texas Department of Insurance said that allowing the Texas Windstorm Insurance Association to continue operating would be hazardous to the public and the last resort insurer’s policyholders.
National Underwriter is seeking entries for its fifth annual “Award For Excellence In Workers’ Compensation Risk Management,” sponsored by the National Council on Compensation Insurance.
Mark E. Ruquet
While debate rages over the future direction of the overall property and casualty insurance market, one recent broker survey of a niche market—architects and engineers professional liability—indicates rates could see upward momentum this year.
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