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Monday, May 13, 2013

Fitch Forecasts Underwriting Profit for P/C Industry in 2013

Fitch Ratings insurance projectionsA new Fitch Ratings report discusses key factors contributing to U.S. property/casualty insurance industry 2012 performance and updates the forecast for industry statutory earnings in 2013.

The industry posted sharply improved statutory profitability in 2012, des...

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It Was Terrorism, But Firms Seeking Insurance Payouts Hope Label Isn't Made Official

Boston marathon explosionBack Bay businesses that collectively lost millions of dollars from the Marathon bombings are now counting on the Obama administration to declare that the single most devastating attack on Boston was not, legally speaking, an act of terrorism.

Illogical as that may seem, such a decl...

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Storm Plans for Disabled Inadequate, U.S. Says

Disaster planning for disabledNew York City is in violation of federal law because its emergency management plans ''do not adequately protect the rights of individuals with disabilities,'' federal authorities said in a court filing on Friday.

The city failed to address their needs in relation to ''shelter...

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Insurance Executives Blast ComFrame, IAIS During NAIC's International Insurance Forum

NAICThree prominent insurance executives sharply criticized recent regulatory proposals put forward by the International Association of Insurance Supervisors during the National Association of Insurance Commissioners' International Insurance Forum in Washington. The criticism lodged at the IAIS by the heads of Ace Ltd., Aflac...

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Trinity Underwriting Managers Announces New Inland Marine Program

TUMI INLAND MARINETrinity Underwriting Managers, Inc. (TUMI), a Georgia based program administrator, has expanded its' commercial auto underwriting capabilities. TUMI recently established a relationship with an 'A+' rated carrier in which it...

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Towers Watson Capital Markets Closes on Sunshine Re 2013-1, A Multiyear, $20 Million Catastrophe Bond

Towers WatsonTowers Watson Capital Markets (TWCM), Inc., the wholly owned subsidiary of global professional services company Towers Watson, announced it has recently arranged a private placement catastrophe bond, Sunshine Re 2013-1, for the Florida Municipal Insurance Trust (FMIT). The bond closed at $20 million with a ...

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Willis North America Appoints Japan Global Practice Group Co-Leaders

WillisWillis North America, a unit of Willis Group Holdings, the global risk advisor, insurance and reinsurance broker, announced today the appointment of Brian Murphy and Hiromoto Ushiki as North American Practice Co-Leaders of the Japan Global Practice Group. Mr. Murphy and Mr. Ushiki assume the position previously held by J...

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Catlin Group's 1Q Gross Premiums Written Rise 12%; Aerospace Product Volume Down

CatlinCatlin Group Ltd.'s gross premiums written in the first quarter rose 12%, as the company made good progress during the quarter, according to Stephen Catlin, chief executive of Catlin Group.

"Gross premiums written increased across all six of our underwriting hubs, with 58% of our volume originating in our...

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