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Wednesday, March 06, 2013

MarketScout: U.S. Commercial Property & Casualty Rates Up 4% for February 2013

P/C insurance rates risingAccording to MarketScout, the February 2013 commercial insurance rate index for the U.S. was up 4 percent as compared to a year earlier.

Richard Kerr, CEO of MarketScout noted, "Over the last year, transportation and energy have lead rate increase...

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Commercial Multiperil Writers in NJ, NY See Loss Ratios Climb: A.M. Best 2012 Data

AM BestWriters of commercial multiperil non-liability insurance saw their 2012 adjusted loss ratios widen in New Jersey and New York as a result of Hurricane Sandy losses, but many saw their overall U.S. ratios improve for the line, according to insurance company annual statement data available in BestLink, A.M. Best Co.'s ...

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Sandy Insurance Backlog Keeps N.J. Residents Waiting

Sandy claims paymentsRebuilding strong after a major natural disaster isn't easy. There's the red tape, the insurance snafus, the money, the learning curve about hiring contractors. But the biggest hurdle for many residents affected by superstorm Sandy is the frustration and the uncertainty of waiting on a clai...

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Hong Kong Seeks to Energize Captive Insurance Market With Tax Cut

Hong Kong captivesHong Kong's government plans to offer a tax cut on captive insurers' profit in a bid to attract more offshore funds, particularly in what it sees as untapped captive insurance business from China'...

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California Insurance Commissioner Orders Mercury to Cut Homeowner Rates

CA insurance regulatorState regulators have ordered Mercury Casualty Co. to cut its homeowner's insurance rates by 8.2%, but the Los Angeles-based insurer is contesting the ruling.

"The rate reduction provided for in this decision would offer much-needed financial relief for

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Questions Emerge About the Mold That Hurricane Sandy Left Behind

Mold after SandyAt a mayoral debate in January, candidates vied to outdo one another in their dire warnings of a growing threat to public health that they said was hurting families all over New York City. Soon afterward, public and private groups pledged that millions of dollars would be spent to fight the scourge. And...

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Arthur J. Gallagher & Co Acquires Metzler Bros. Insurance

AJG aquisitionMetzler Bros. Insurance, a second-generation, family-owned Kansas City company, has been acquired for an undisclosed price by Arthur J. Gallagher & Co., one of the largest insurance brokerages in the world.

Founded in 1946 by brothers Bob and Jim Metzler, the property and casualty insurance broker has b...

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American Collectors Insurance Becomes First Specialty Collector Vehicle/Collectibles Firm to Join Trusted Choice

American Collectors

American Collectors Insurance joined the Trusted Choice® consumer branding program for independent insurance agents and brokers, becoming the first specialty collector-auto and collectibles provider to support the agent brand. American Collectors, a national provider of insurance for

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