Insurance News

Posts Tagged ‘fall

The market for directors and officers liability insurance remains soft, according to a quarterly pricing index that an Aon Corp. unit released Tuesday.

The price of D&O coverage decreased 16.4% in the second quarter of this year compared with the same period last year, concluded the report from Chicago-based Aon’s Financial Service Group. That is the largest decrease since the fourth quarter of 2007 and the second consecutive quarter in which Read the rest of this entry »

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Traffic deaths tied to driving while distracted by activities such as talking on a mobile phone or eating fell 6 percent last year from the previous 12 months, U.S. Transportation Secretary Ray LaHood said.

Crashes linked to drivers being distracted behind the wheel caused 5,474 deaths last year, down from 5,838 a year earlier and accounting for 16 percent of all road fatalities in 2009, unchanged from the previous year, according to the National Read the rest of this entry »

Commercial property/casualty insurance rates dropped an average 3% in July compared with a year earlier, MarketScout said Thursday.

The Dallas-based electronic insurance exchange said the service industry enjoyed the most competitive pricing among industries surveyed, with average prices down 4%. Among lines of coverage, general liability experienced the greatest pricing decline with average prices down 5%.

“Insurers received Read the rest of this entry »

Directors and officers liability coverage for financial institutions may soften next year as more capacity enters the market, but few decreases are expected at the looming Jan. 1, 2010, renewals, brokerage Willis Ltd. said in a report released Monday.

Financial institution D&O coverage is one of the few areas of the D&O market where rates are still increasing. Some financial institutions may see even higher premiums at the beginning of Read the rest of this entry »

Directors and officers liability coverage for financial institutions may soften next year as more capacity enters the market, but few decreases are expected at the looming Jan. 1, 2010, renewals, brokerage Willis Ltd. said in a report released Monday.

Financial institution D&O coverage is one of the few areas of the D&O market where rates are still increasing. Some financial institutions may see even higher premiums at the beginning of Read the rest of this entry »

While many experts are bullish about the insurance industry shaking off the effects of the economic crisis in the coming year, the reality for insurance workers isn’t as rosy in the here and now. The U.S. Bureau of Labor Statistics (BLS) announced Friday that the U.S. insurance industry lost 3,400 jobs in October, which is the 12th consecutive month of losses, according to seasonally adjusted data.

Last month, industry payrolls were 2.244 Read the rest of this entry »

Despite falling policyholder surplus, insurers continued to compete vigorously for business in the second quarter of 2009, according to the quarterly RIMS Benchmark Survey, produced by New York-based Advisen Ltd.

With the exception of directors and officers insurance premiums for financial services companies, average commercial insurance premiums continued to fall in the second quarter compared with the same period in 2008, the survey shows. Read the rest of this entry »