property casualty News

Fitch: D&O Liability Insurance Rate Declines, Marks Soft U.S. P/C Market

The insurance market underwriting cycle is turning unfavorable in many U.S. commercial market segments, including directors and officers (D&O) liability insurance, Fitch Ratings says. Premium rates in property lines have been declining for some time in response to a lack …

New Product Gives Insurers Ability to Track Mileage with Policyholders’ Smartphones

Property/casualty insurance information company Verisk Insurance Solutions is teaming with a technology firm to provide insurance companies with the ability to collect automobile odometer readings for insurance rating and usage-based insurance (UBI) programs. The product, called OdometerConfirm, allows insurers to …

Xerox to Acquire ISG Holdings, Expand Workers’ Comp Offerings

Conn.-based Xerox announced a definitive agreement to acquire ISG Holdings, Inc. for $225 million, creating a comprehensive workers’ compensation suite of offerings for clients in the property/casualty insurance industry. In addition to Xerox’s current workers’ compensation business offered through CompIQ, …

Allied World Launches Property, Excess Casualty Lines for Canadian Market

Allied World Assurance Company Holdings, AG launched an initial property/casualty offering in the Canadian market. Gord Kerr, senior vice president, chief agent and branch manager, will oversee the build-out of these lines and will be responsible for production, profitability and …

China Insurer’s Profit Rises 46 Percent

Ping An Insurance Co., one of China’s biggest state-owned insurers, says its quarterly profit soared 46.2 percent on stronger insurance and banking business. Ping An said Tuesday it earned 10.8 billion yuan ($1.8 billion), or 1.37 yuan (23 U.S. cents) …

Allianz Increases Dividend After Profit

Insurance company Allianz says it is increasing its dividend to 5.30 euros ($7.27) from 4.50 euros a share after profits rose 15 percent last year. The Munich-based company said Thursday its net income attributable to shareholders reached 6 billion euros …

Kemper Announces Changes to its Property/Casualty Group

Kemper Corporation announced that it is realigning its property/casualty business. This realignment will result in one property/casualty segment for financial reporting purposes, beginning with the first quarter 2014. The new Kemper Property & Casualty segment will consist of the following: …

QBE North America Appoints President of Property & Casualty

Robert James has been appointed president of Property and Casualty for QBE North America, which includes the program, middle markets and major broker groups. J James will be a member of the executive management board and will report to David …

The Hanover Appoints Greg Leffard To Lead Professional Liability Business

The Hanover Insurance Group, Inc., a provider of property/casualty insurance for businesses, families and individuals, named Greg Leffard president of Hanover Professional Portfolio, responsible for the company’s E&O businesses. Hanover Professional provides industry leading professional liability and errors and omissions …

Wells Media Launches Carrier Management Magazine

Wells Media Group Inc. has launched a new print publication, Carrier Management Magazine, for property/casualty (P/C) insurance executives. This magazine launch follows the spring debut of the website, www.CarrierManagement.com, and its companion daily e-newsletter. The new quarterly Carrier Management Magazine …