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Daily NewsFlash : January 23, 2013

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Wednesday, January 23, 2013

Travelers Fourth-Quarter Net Down 51% After Sandy

Travelers profits down after SandyTravelers Cos., one of the largest property-casualty insurers in the U.S., said its fourth-quarter profit fell 51% as the company racked up $669 million in claims costs from superstorm Sandy.

But the company's results exceeded Wall Street's muted expectations in the wake of the stor...

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Fitch: Bermuda Market Remains Strong Entering 2013

Fitch and Bermuda marketAccording to a new Fitch Ratings report, Bermuda (re)insurers withstood another year of sizable industry catastrophe losses supported by the group's strong capitalization and favorable risk management.

Fitch views...

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Willis Identifies Key Emerging Risks for Businesses in 2013

Willis and risks for 2013Only a few weeks into the new year, trends are developing that insurance experts cite as key emerging risks for businesses in 2013. Among the risks at the top of the list are: the increased likelihood of extreme weather, the damage of negative publicity on established brands accelerated through social ...

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Former Nebraska Senator Ben Nelson Named NAIC CEO

NAIC president namedFormer Nebraska Senator Ben Nelson has been named Chief Executive Officer (CEO) of the National Association of Insurance Commissioners (NAIC).

Nelson will lead the NAIC’s efforts to meet the needs of its members and represent their interests as the primary advoca...

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Towers Watson: P/C Insurers See Value of ORSA Regulatory Requirements to their Business

Towers Watson survey of P/C insurersProperty & casualty (P&C) insurers are forming clear opinions about how pending Own Risk and Solvency Assessment (ORSA) regulatory requirements will impact their current financial planning, enterprise...

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NCIB: Florida Leads U.S. in Fraudulent Insurance Claims

NCIB - fake claimsFlorida leads the U.S. in insurance fraud fueled by scam artists in Miami and Tampa who smash and crash cars to generate claims, an industry group said.

Florida, the fourth most-populous state, reported 3,530 questionable claims from Jan. 1, 2008, through June 30, 2012, the...

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