News

The Hartford, in announcing preliminary 2011 second-quarter results, says it expects to report net income of approximately $24 million, which would be down from net income of $76 million in the 2010 second quarter.

A quiet second-quarter catastrophe-bond market reflects the desire among investors to put their money into places other than U.S. hurricane risks, a report from Willis Group Holdings says.

In what industry observers are describing as a “significant deal,” Accenture announces that it has entered into an agreement to acquire privately-held Duck Creek Technologies, which specializes in software solutions for the property & casualty insurance industry. Terms of the transaction, which is expected to close within the next 30...

Meadowbrook Insurance Group Inc. says its second-quarter results will include higher-than-average storm-related losses, net of reinsurance, of approximately $12.5 million pre-tax.

An amendment to the federal Liability Risk Retention Act that would allow inclusion of commercial-property coverage in risk-retention groups has been introduced in the House of Representatives and awaits further action, according to the office of Rep. Peter Welch, D-Vt.

Personal auto insurance is already the most commoditized line of property & casualty insurance and is likely to becoming the most exact of the lines in terms of underwriting as insurers spread the movement known as usage-based insurance.