property casualty News

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 …

Liberty Mutual’s Shandong Branch Ready for Business

Liberty Mutual Insurance Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), was granted final approval on June 27th to commence business in Shandong by the China Insurance Regulatory Commission (CIRC). Headquartered in Chongqing, LICL received CIRC approval …