News

Employment in the property and casualty insurance industry declined in September 2010 compared to August, and declined by 2.9 percent compared to September 2009, casting doubt on hopes that industry employment trends were turning around.

The decline in reserve releases could indicate that the property and casualty market is set for a turn in the cycle that could come as soon as 2012, according to a financial analyst's report.

The Connecticut Insurance Department's director of consumer services has been appointed as acting insurance commissioner.

The Property Casualty Insurers Association of America said the model law proposed by a state regulatory task force to implement the surplus lines modernization law does not support the intent of the federal law.

A former top broker with CRC Insurance Services will not have to pay her former employer more than $3 million awarded to the company by a lower court, according to the California Court of Appeal.

Standard & Poor's said it does not expect rising interest rates to result in ratings changes for property and casualty insurance companies unless they decide to adjust their reserves.