P/C News Headlines
The following news stories feature information regarding the Property/Casualty insurance market.
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IAG Incurs More Than 2,900 Claims From Recent Stormy Weather: Insurance Australia Group Ltd. said it has taken in more than 2,900 claims from a stormy and wet December and start of the year.
Claims, incurred between ... Date: January 20, 2021 |
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Donegal Insurance Group Names Chief Underwriting Officer: The Donegal Insurance Group, which includes Donegal Mutual Insurance Co. and the insurance subsidiaries of Donegal Group Inc., has named Jeffrey T. Hay to ... Date: January 20, 2021 |
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Louisiana Citizens Shedding Policies Despite Busy Hurricane Year: Louisiana Citizens Property Corp., once the provider of nearly 10% of the state’s residential insurance policies, continued to shed coverage despite 2020’s ... Date: January 19, 2021 |
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Axis Capital Estimates Fourth-Quarter COVID-19 Losses at $125 Million: Axis Capital Holdings Ltd. said its preliminary fourth-quarter net claims estimate is between $195 million and $205 million, pretax, for catastrophes and ... Date: January 19, 2021 |
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Aon Edge CEO: Data, Analytics Make Flood Insurable in Private Market: The private flood market is poised to help close the flood insurance gap, said John Dickson, president and chief executive officer, Aon Edge.
View the video ... Date: January 19, 2021 |
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Applied Underwriters Names EVP, Applied Specialty Underwriters: Applied Underwriters has named John Black executive vice president of the company’s newly expanded division, Applied Specialty Underwriters.
Black, who has ... Date: January 19, 2021 |
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Insurance Groups Oppose Illinois Bill to Limit ‘Excessive’ Business Liability Premiums: The insurance industry opposes a bill, introduced into the Illinois General Assembly, which would give business policyholders the right at any time to object ... Date: January 19, 2021 |
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Panel: Cat Modeling, Improved Risk Assessment May Increase Takeup of Earthquake Insurance: Earthquake loss is a potential catastrophe known to just about everyone living in exposed regions, yet governments and insurers remain frustrated by the ... Date: January 19, 2021 |
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Swiss Re Economist: Next Challenge Is Modeling Perils Triggered by Larger Events: Thomas Holzheu, Swiss Re Americas chief economist, said many recent losses are tied to catastrophic events that historically haven’t been known as the most ... Date: January 19, 2021 |
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Update: Early NCCI Data: 8.1% Decrease in Workers’ Comp 2020 NPW: (Corrects the premium total in the first paragraph) Preliminary data from the National Council for Compensation Insurance estimated net premiums written for ... Date: January 18, 2021 |
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QBE Adds $185 Million to Risk Margins as Insurers Mull Impact of UK COVID-19 Court Ruling: Australia’s QBE added $185 million to its risk margins as insurance carriers worldwide have begun to reassess pending and potential business interruption ... Date: January 18, 2021 |
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Canadian Insurers Hit With $1.88 Billion in 2020 Cat Losses: Canadian insurers saw C$2.4 billion ($1.88 billion) of catastrophe losses in 2020, making it the fourth-highest year for insured losses since 1983, according ... Date: January 18, 2021 |
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THB Places First Risk With Lloyd’s Health Facility Syndicate: Broker THB said it placed the first risk with the Global Health Risk Facility, a new public-private collaboration at Lloyd’s developed by insurtech Parsyl for ... Date: January 18, 2021 |
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British Columbia Regulator Approves 15% Drop in Auto Insurance Rates: The British Columbia Utilities Commission has approved a 15% interim reduction in basic automobile insurance rates requested by the Insurance Corporation of ... Date: January 15, 2021 |
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MedPLI CEO: Technology Takes Hold as Medical Liability Rates Rise: Claims costs are rising in the medical liability insurance market as doctors grapple with technology shifts made more urgent by the COVID-19 pandemic and ... Date: January 15, 2021 |
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Virginia Bill Would Scrap Cap on Medical Malpractice Damages: A Virginia state senator has proposed a bill that would eliminate the cap on damage awards in medical malpractice cases in the state.
Sen. William Stanley ... Date: January 15, 2021 |
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UK Supreme Court Sides Against Insurers in COVID-19 Business Interruption Test Case: In a widely anticipated ruling, the United Kingdom Supreme Court found insurers are liable for the COVID-19-related business interruption claims of about ... Date: January 15, 2021 |
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Update: Three Brokerages Accuse Erie Insurance of Redlining in Baltimore: (Updated to include Erie Insurance Exchange and subsidiary defendants throughout) Three Baltimore-area insurance brokerages have filed complaints with the ... Date: January 14, 2021 |
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Chaucer Names Head of Political Risk and Credit: Chaucer, a specialty (re)insurance group, has promoted Deborah Wyatt to succeed Nick Kilhams as head of political risk and credit. Neil Edwards will also be ... Date: January 14, 2021 |
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Ascot Names CEO for US Insurance: Ascot has named Matthew C. Kramer to succeed Greg Wolnyiec as chief executive officer, U.S. insurance.
Kramer will be based in the company’s New York City ... Date: January 14, 2021 |
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