PropertyCasualty360: Property & Casualty Insurance News & Tips

Survey Specifics

Rick Flaspohler

The Flaspöhler Research Group Risk Manager Survey was initiated in 2007 as a biennial study of U.S. Risk Managers’ opinions of commercial carriers. This third Flaspöhler Study is undertaken in partnership with NU.

Eppinger: Hanover Bid For Chaucer ‘More Strategic Than Opportunistic’

Chad Hemenway

Frederick H. Eppinger, CEO of The Hanover, says he certainly won’t apologize for good timing, but the recent bid to acquire Chaucer Holdings was not driven by the state of the Lloyd’s market.
Zurich, Chubb Voted Best In Class By Risk Managers

Caroline McDonald

From a choice of 50 providers, Zurich and the Chubb Group of Insurance Cos. were named as the no. 1 and 2 overall favorites of insurance buyers in the “Risk Manager Choice Awards” as the “best overall” insurance companies.

Risk Managers Advisory Board: Mission Statement

propertycasualty360

The National Underwriter Risk Managers Advisory Board will provide a national forum for leading risk managers to share their professional expertise, their experiences, and their views on loss control, safety, insurance purchasing and alternative-market issues. It will help NU editors identify the best-in-class solutions to the problems and issues all...
NU Introduces Its Risk Managers Advisory Board

Bryant Rousseau

This is now my 10th issue since taking over the reins of NU, and I hope you’ve noticed some subtle changes—greater use of charts and graphs, a weekly page dedicated to data, and a column every issue from our Washington-based reporter.
W.R. Berkley Sees Prices Up For First Time In 17 Quarters

Chad Hemenway

William R. Berkley, chairman and CEO of W.R. Berkley Corp., says the company isn’t planning any celebratory parties, but for the first time in about four years the commercial-lines writer can say prices during a quarter were up, albeit very slightly.
Market Reports Show High P&C Capacity; Pricing May Be At Tipping Point

Mark E. Ruquet, Caroline McDonald, Phil Gusman

Industry reports released over the past week show that plenty of capacity still remains for property and casualty lines, but the direction of pricing remains uncertain.
Storms, Tornadoes Continue To Cause Havoc In South, Midwest

Chad Hemenway

Claims are piling up from extreme weather in the Southeast and Midwest that has kept insurers busy evaluating many thousands of damaged and destroyed homes.
Boutiques May Be Best Bet For Higher-Exposure Workers’ Comp Clients

Marguerite Dixen

Hard hats and steel-toed shoes don't usually lead to thoughts of custom boutiques. Yet for many higher-exposure and hard-to-place workers’ compensation accounts, a specialty niche approach to managing risk is a natural evolution.
Ambac Assurance Segregated Claims Payments Delayed

Mark E. Ruquet

Ambac Assurance’s segregated account will not begin to make claims payments beginning in May because regulatory officials are not comfortable with the company’s ability to pay claims, officials say.
Is Your Agency An Award Winner?

propertycasualty360

Entries are invited for the Commercial Agency Awards for Excellence program, run jointly by National Underwriter and American Agent & Broker.
Early P&C Earnings Reports Reveal Few Primary Insurer Market-Turn Catalysts

William Wilt

The first round of P&C earnings reports for the first-quarter reveal few catalysts for a turn in primary insurance prices. P&C Insurance Analyst William Wilt explores what the first-quarter number may be saying about pricing cycles and capital commitments for both insurers and reinsurers.
Risk Manager Compensation Survey

propertycasualty360

The annual risk managers salary survey conducted by NU in partnership with Logic Associates, a leading industry job-search firm, asked 355 risk managers to tell us about their compensation packages (see pages 19 & 21)—and about other key elements of their jobs, such as education levels, reporting structures and overall...
AIG Sued For Hundreds Of Millions By Former Exec, Others

Arthur D. Postal

American International Group Inc. could be on the hook for total claims of perhaps $800 million or more related to profits on real estate deals involving AIG’s Global Real Estate unit, according to a lawsuit that could come to trial in New York as early as this summer.
Berkshire Considers Legal Action Against Former Exec Sokol

Chad Hemenway

Berkshire Hathaway Inc. is considering whether to pursue legal action against former company executive David Sokol, who was once thought to be among a handful of candidates to replace CEO Warren Buffett.
Most Risk Managers ‘Satisfied’ With Insurers—With Some Exceptions

Caroline McDonald

The majority of risk managers surveyed, 53.7 percent, say they are “very satisfied” with their insurers in a survey of 364 insurance buyers by the Flaspöhler Research Group, in partnership with NU.
LRRA’s 25th Anniversary: Act Brought Big Changes In Liability Insurance

Karrie Hyatt

The Liability Risk Retention Act (LRRA) will be celebrating its 25th anniversary in October of this year, marking many changes in liability insurance during that time. Changes include establishment of the two entities enabled by the LRRA—risk retention groups (RRGs) and risk purchasing groups (RPGs)—as effective alternative risk transfer vehicles.
Allstate Q1 Income Soars On Lower Cat Losses

Chad Hemenway

Allstate Corp.’s 2011 first-quarter profit soared on half as much catastrophe-related losses compared to this time a year ago—and capital gains instead of losses.
Focus On Debt Could Imperil Future Of NFIP

Arthur D. Postal

The debate over raising the debt limit may indicate that the end is approaching for government support of every program that has a constituency.
Satisfied Customers Reveal Recipe For Success At Zurich, Chubb

Caroline McDonald

Corporate insurance buyers explain the qualities that help make Zurch and Chubb the top choice in the “best overall” category in the 2011 Risk Manager Choice Awards survey.

National Underwriter Property & Casualty-May 2, 2011

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