PropertyCasualty360: Property & Casualty Insurance News & Tips

Insured Losses Mount to $200M for Turkey Quake

Mark E. Ruquet

Insured losses from a magnitude 7.2 earthquake that struck eastern Turkey on Oct. 23 are estimated between $55 million and $200 million, according to two catastrophe-modeling firms.

Indie Agents Strike Back

Bryant Rousseau

In NUs Oct. 17 editorial, I reported on my experience shopping for and choosing a renters insurance policyopting, in the end, to go with USAA after a phone call with one of its representatives (a State Farm agent just up the street from me was also in the running).
Commercial Agencies of the Year Share Success Secrets in Exclusive Roundtable

propertycasualty360

To hear how some of the countrys top-performing independent commercial agencies are dealing with todays tough competitive environment, we invited the three winners of the National Underwriter/American Agent & Broker Commercial Agency of the Year Awards to a roundtable in New York where they could share their insightsand some of...

‘Occupy Wall Street’ Will Test Public, Private Sector Liability Coverages

Caroline McDonald

The Occupy Wall Street (OWS) movement, which has now spread to a number of cities across the United States, will test both public and private entities when claims start rolling in, says one risk-management expert.
Time to Hire an Economic-Damages Expert?

Ari Lorin Markow

The saying timing is everything applies to litigation just as it applies to all other aspects of life. It rings true throughout the course of litigationand often includes the important decision of when to hire an economic-damages expert.
3Q Earnings: Catastrophes Continue to Plague Insurers’ Results

Chad Hemenway, Mark E. Ruquet

Third-quarter results are rolling in, and the theme remains the same as it has been throughout the year: Catastrophe losses are dragging down profits.
Thailand Floods Could Cost Insurers Billions

Mark E. Ruquet

Officials in Thailand say insurance losses from months of flooding could cost insurers greatly, with some estimates running as high as $13 billion as floods reached industrial zones.
Rates ‘Improving,’ But Conditions Not Quite Right for Market Turn

Chad Hemenway, Phil Gusman

While executives on third-quarter-results conference calls say they are seeing improvements in the rate environment, Insurance Information Institute President Robert Hartwig believes the stars are not quite aligned yet for a market turnand a recent report suggests the impact of rate increases in 2012 could be tempered by expectations of...
Washington Roundup: Another Short-Term NFIP Extension?

Arthur D. Postal

Industry officials are starting to prepare for the prospect of another short-term extension to the National Flood Insurance Program (NFIP), as the deadline from the last extension is fast approaching.
Brokers Report Mixed 3Q Results

Mark E. Ruquet

Insurance brokers have reported mixed results for 2011s third quarter, with Willis Group Holdings PLC posting an 8 percent decrease in net income; Arthur J. Gallagher posting a 14 percent increase; and Aon Corp. reporting a 38 percent increasebut facing questions from financial analysts over the performance of its consulting...
Donelon Wins Re-Election in Louisiana, While Kipper Returns as Regulator for Silver State

Chad Hemenway

Incumbent Louisiana Insurance Commissioner Jim Donelon was elected on Oct. 22 to a third term.
At One-Year Anniversary, Strong Optimism But Slow Uptake for LexisNexis Insurance Exchange

Michael P. Voelker

One year ago, the LexisNexis Insurance Exchangeresulting from an alliance among LexisNexis Risk Solutions, the Council of Insurance Agents & Brokers (CIAB) and Marketcore Inc.was launched in an early adopter release to 16 brokerages and five member carriers. The systems goal: to simplify the submission of midmarket commercial-lines risks by...

National Underwriter Property & Casualty-November 7, 2011

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