PropertyCasualty360: Property & Casualty Insurance News & Tips

While Rates Should Increase in 2012, Growth Will Prove Challenging

By Mark E. Ruquet, Phil Gusman

Anumber of recent reports conclude that commercial-insurance rates were up in 2011s fourth quarter and are likely to remain in positive territory through 2012. But factors such as macro-economic conditions and loss-cost trends will limit insurers ability to generate underwriting profits, and carriers will have to look elsewherefor example, mergers...

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Number of Publicly Held Brokers May Grow Over Next Two Years

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Big Gap Still Exists Between Perceived ERM Importance and Its Adoption

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February 02, 2012

Global Broker Survey: Risk Managers Concerned About Insurance Pricing, Handling Risk with Fewer Resources

Nearly all risk managers (96 percent) have significant concerns about the availability and pricing of coverage, according to a survey of member firms of The Independentsan international coalition of insurance brokers and risk-management-services firms.

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February 02, 2012

WCRI: Medical Costs Per Workers' Comp Claim Rising Fast in Virginia

Medical costs per workers compensation claim with more than seven days of lost time are rising faster in Virginia than in other states that were part of a 16-state study, according to the Worker Compensation Research Institute.

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February 02, 2012

Calif., N.Y. & Wash. State to Make Climate Change Survey Mandatory

Citing the need for regulators to understand how the risk of climate change can impact carriers, three states say they will require insurers to respond to the climate-risk survey adopted by the National Association of Insurance Commissioners in 2009.

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February 02, 2012

Greenberg, Starr International Amend Suit Against Federal Government

Starr International and its Chairman and Managing Director Maurice Hank Greenberg, have amended a lawsuit against the federal government to claim that the terms of government aid to AIG starting in 2008 amounted to an attempt to steal the business.

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February 02, 2012

Greenberg, Starr International Amend Suit Against Federal Government

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February 02, 2012

U.S. Supreme Court Declines Louisiana Citizens' Request for Stay in Class Action Suit

The U.S. Supreme Court has decided not to delay the execution of a judgment against Louisiana Citizens Property Insurance Corp. while the last-resort insurer prepares an application for the high court to hear the case.

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February 02, 2012