Posts Tagged ‘Insurers’
Regulatory Issues Paramount for Mutual Insurers
Posted by: incur on: September 27, 2010
The shifting regulatory sands and the need for the industry to exert its influence to shape outcomes is a recurring theme at National Association of Mutual Insurance Companies (NAMIC) 115th Annual Convention in San Diego. Kicking off the conference, NAMIC Chairman John Hill II, noted that in many ways the industry was at a crossroads. [...]
Bed bugs may bite insurers, but won’t dog industry
Posted by: incur on: September 8, 2010
Bed-bug infestations in the United States have multiplied at an alarming rate in recent years. A recent survey of almost 1,000 pest exterminators found that 95% of the firms had dealt with a bed-bug infestation in the past year. That was up from 25% of firms in surveys conducted before 2000. The National Pest Management [...]
State Farm, Nationwide Among Property Insurers in Hurricane Earl’s Path
Posted by: incur on: September 2, 2010
State Farm Mutual Automobile Insurance Co. and Nationwide Mutual Insurance Co. are among insurers with the most at risk from Hurricane Earl, which threatens to graze North Carolina on Sept. 3. The state had about $133 billion of coastal property covered by insurers according to 2007 data from AIR Worldwide, distributed by the Insurance Information [...]
P&C insurers solid despite lower profits
Posted by: incur on: September 2, 2010
Property-and-casualty insurance companies are seeing leaner profits because of recently high catastrophe losses, but they continue to have solid capital positions, Moody’s Investors Service said Monday. Moody’s said second-quarter profits for publicly traded P&C insurers were generally lower than a year ago because of losses from hailstorms, tornadoes and flooding in the Midwest and South. [...]
Property/casualty insurers tap reserves
Posted by: incur on: August 27, 2010
Reserve releases boosted first-half 2010 results for the largest U.S. property/casualty insurers, but the soft market and weak economy continue to dampen results for the industry as a whole, observers say. Prospects for the property/casualty industry are unlikely to improve until the economy does, observers say. Ten major insurers that release their quarterly results reported [...]
Insurers’ Top 10 Underwriting Priorities
Posted by: incur on: August 6, 2010
Faster turnaround and easy, efficient collaboration with agents is oft-said to be of paramount importance to insurers in regard to their underwriting operations. And, according to a new survey released by FirstBest Systems Inc., this is still very much the case. The property/casualty insurance software solutions provider today released highlights from its recent insurer survey, [...]
Insurers Facing Increasing Number of Questionable Claims
Posted by: incur on: August 4, 2010
Given these continued hard times for Americans, insurers might want to be extra vigilant when scrutinizing customer’s claims. New data issued today from the National Insurance Crime Bureau (NICB) in its report on questionable claims (QC) during the first half 2010, found that QCs have skyrocketed in the past two years. The report examines six [...]
Financial reform law helps U.S. insurers, reinsurers
Posted by: incur on: July 26, 2010
The Dodd-Frank Wall Street Reform and Consumer Protection Act could help U.S. insurers and reinsurers ?maintain their competitive positions in the global marketplace,? according to an analysis released Thursday by Standard & Poor’s Corp. S&P cites the creation of a Federal Insurance Office within the Treasury Department as an example. S&P notes that the office [...]
Insurers’ Wild Week
Posted by: incur on: July 26, 2010
As last week came to a close, two long-simmering legislative issues of great import to the insurance industry came to a head as the Senate passed financial service reform legislation and the house passed a bill that would extend the National Flood Insurance Program (NFIP) for five more years. After a couple of years of [...]
Insurers Criticize FEMA’s Delay Of Market Rates On Remapped Policies
Posted by: incur on: May 26, 2010
Decisions such as the Federal Emergency Management Agency?s to delay charging market rates for policies sold in certain areas under the deficit-ridden National Flood Insurance Program, could become more common, an insurer group said. An official of the Property Casualty Insurers Association of America warned that extensions like the two-year delay are likely to be [...]
