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Property and Casualty News

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The latest news, regulation and trends in property & casualty insurance.

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Liberty Mutual and Carfax Team to Protect Consumers from Unknowingly Buying Flood Damaged and Totaled Cars

July 21, 2008

BOSTON, July 21 /PRNewswire/ — It happens all across the country: people purchase used cars without realizing they were totaled…

BestWeek: Wildfire Losses Set to Increase Industry’s Catastrophe Woes, A.M. Best Report Finds

July 21, 2008

Business Editors/Insurance Writers OLDWICK, N.J.–(BUSINESS WIRE)–July 18, 2008–After nearly $2 billion in claims from the Southern California wildfires in 2007,…

Insurance Tax Repeal Ballot Question Now under Review in Maine

July 21, 2008

A referendum to repeal new tax levies to fund Maine’s state-sponsored health insurance program may be headed to the November…

IIABNY Chair to Testify at Broker Comp Hearing

July 21, 2008

  (DeWitt, New York, July 21, 2008) — Neal L Sullivan, chair of the Independent Insurance Agents & Brokers of…

Tennessee Joins State Based Systems

July 18, 2008

  KANSAS CITY, MO – (July 2008) — The National Association of Insurance Commissioners (NAIC) announced today that the Tennessee…

Multistate Coastal Insurance Plan Earning Agent, Insurer Support

July 17, 2008

The property/casualty industry may be moving closer toward consensus on coastal catastrophe issues, as two major insurers and two of…

ERIE Appoints Terrence W. Cavanaugh as New President and CEO

July 17, 2008

ERIE, Pa., July 17 /PRNewswire-FirstCall/ — The Board of Directors of Erie Indemnity Company (Nasdaq: ERIE), managing company for the…

Mass. Bill Would Limit Replacement Coverage for Windstorms

July 16, 2008

Copyright 2008 A.M. Best Company, Inc.All Rights Reserved BestWire July 15, 2008 Tuesday 04:17 PM EST 566 words Mass. Bill…

AIG Travel Guard Launches ‘Adventure’ Travel Insurance Plan

July 16, 2008

STEVENS POINT, Wis., July 16 /PRNewswire/ — Today’s active vacationers require complete coverage in pursuit of their next once-in-a-lifetime activity….

Fairmont Specialty Creates Transportation Insurance Unit

July 15, 2008

Business Editors/Transportation Writers/Insurance Writers HOUSTON–(BUSINESS WIRE)–July 15, 2008–Fairmont Specialty, part of the Crum & Forster insurance group, today announced the…

AIG Acquires All of Lloyd’s Managing Agent Ascot

July 15, 2008

American International Group Inc. has acquired complete ownership of Ascot Underwriting Holdings Ltd., the Lloyd’s managing agent in which it…

Lexington Insurance Company Introduces Truck Broker Liability Insurance

July 15, 2008

Business Editors/Insurance Writers NEW YORK–(BUSINESS WIRE)–July 15, 2008–Lexington Insurance Company, a unit of AIG Commercial Insurance, today announced Lexington Truck…

Clients Receive More ‘Than Just the Sale’ of Insurance, Says Agency Exec to Buffalo Compensation Hearing

July 15, 2008

  Former Buffalo-area insurance trade group president rejects contingent commission conflict of interest theory before a joint hearing (DeWitt, New…

Malpractice Suit Yields $9 Million In Damages

July 14, 2008

Jul. 13–A Niagara County jury of six women, including two nurses, has awarded $9 million in a malpractice suit against…

Florida Senator Blames RAA for Failure of State Cat Fund Resolution

July 11, 2008

Copyright 2008 A.M. Best Company, Inc.All Rights Reserved BestWire July 10, 2008 Thursday 04:32 PM EST 634 words Florida Senator…

J.D. Power and Associates Reports: Erie Ranks Highest in New Buyer Satisfaction With the Auto Insurance Purchase Experience

July 10, 2008

WESTLAKE VILLAGE, Calif., July 10 /PRNewswire/ — Erie ranks highest among 18 major auto insurance companies in satisfying new buyers…

Composite Rate Decline Continues to Moderate

July 7, 2008

  The average property and casualty premium rates declined eleven percent in June 2008 as compared to a decline of…

CEI Statement on Resignation of NAIC CEO Catherine Weatherford

July 7, 2008

Washington, D.C., July 3, 2008—Long-serving National Association of Insurance Commissioners Executive Vice President and CEO Catherine Weatherford announced her resignation…

Statement From Freed & Weiss LLC Regarding Title Insurance Companies Facing Class Action Suits Over Charging Premiums in Excess of Filed Rates for Mortgage Refinancing

July 7, 2008

CHICAGO and DETROIT, July 7 /PRNewswire/ — The following statement was issued today by the law firm Freed & Weiss…

New Law To Lower Many Homeowners’ Insurance Premiums

July 7, 2008

HARRISBURG, Pa., July 7 /PRNewswire-USNewswire/ — Pennsylvania homeowners may be entitled to a reduction in their homeowners’ insurance premiums, thanks…

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