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Daily NewsFlash : February 22, 2013

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Friday, February 22, 2013

AIG Posts Fourth-Quarter Loss on Sandy, Sale of Plane-Leasing Unit

AIGAmerican International Group Inc. (AIG) swung to a fourth-quarter loss on costs from superstorm Sandy and a charge tied to the sale of its plane-lease unit.

In its first earnings report since the U.S. government sol...

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Cruise Lawsuits Are Filed, But Carnival has Advantage

Cruise lawsuitLawsuits are already filed in this month's disastrous Triumph cruise ship voyage, but the legal deck is stacked in parent company Carnival's favor, mainly because of the restrictive terms of vacationers' tickets, governing who can sue and where.

Cases involving the Triumph - which was disabled Feb. 10 ...

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Fisker Automotive Agrees to End XL Insurance Suit Over Luxury Car Loss During Sandy

XL SuitFisker Automotive Inc. agreed to end a lawsuit against XL Insurance America Inc. over the loss of more than 300 luxury cars worth about $33 million that were destroyed in Superstorm Sandy, according to a court fi...

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Superstorm Sandy Claims Rise to 250,500 Automobiles

Sandy and auto lossesMuch has been made of the damage to homes and business wrought by Sandy, the devastating "superstorm" that swept through Long Island and the East Coast in October. But now insurers are seeing the full brunt of claims when it comes to cars, not just houses and it's massive.

Some 250,...

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Swiss Re Aims for High-Growth Markets as P/C Outperforms Life Segment

Property/Swiss Recasualty gains outweighed lower profit in the life and health reinsurance segment for Swiss Re in 2012, as the world's largest reinsurer posted a 60% rise in 2012 net income.

Net income for the year rose to US$4.2 billion from $2.63 billion a year earlier. Swiss Re's property/casualty reinsurance n...

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CalPERS Plans 85% Rate Hike for Long-Term Care Insurance

Long Term CareDailey Mayo received some stunning news in the mail last week: an 85% rate increase for the long-term-care insurance he has had for 15 years from the California Public Employees' Retirement System.

The r...

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PPIB Taps Schoenthal as Underwriting and Production Manager

PPIBProfessional Program Insurance Brokerage (PPIB) has promoted Jennifer Schoenthal to the position of Underwriting and Production Manager for their agency.

Schoenthal will manage PPIB's Underwriting Depar...

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