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Daily NewsFlash : April 11, 2013

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Thursday, April 11, 2013

Willis: Property/Casualty Insurance Rates Edging Higher

Willis on ratesWillis Group Holdings plc, the global risk advisor and insurance broker, expects commercial insurance buyers to experience moderate upward pressure on rates through the remainder of 2013. The range of anticipated increases is moving slightly higher for most key product lines, although commercial Property rates f...

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April 1 Renewals See Reinsurance Pricing Stabilize Amid Dynamic Capital Growth, Reports Guy Carpenter

Guy CarpenterGuy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, reports that dynamic capital growth and ample reinsurance capacity resulted in a relatively stable renewal at April 1, 2013. In a briefing released today, Guy Carpenter comments that the convergence of traditional and alternat...

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PCI Disputes Cuomo Claims of Employer Savings in NY Workers' Compensation Reforms

Workers Comp in NYThe Property Casualty Insurers Association of America disputes New York Gov. Andrew Cuomo's claim that workers' compensation reforms would save employers about $800 million in costs, saying instead tha...

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As ACOs Gain Prominence, Questions of Risk Take Center Stage

ACOsHospitals and doctor groups are flooding the U.S. Centers for Medicare and Medicaid Services with applications to form accountable care organizations

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Hurricane Forecast: Above-Average in 2013

Hurricane seasonA noted team of Colorado State University meteorologists predicts above-average hurricane activity in 2013 and is drawing a parallel to two recent years of devastating tropical weather damage in the Carolinas.

The annual forecast issued Wednesday by Philip Klotzbach and William Gray calls for...

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White House Proposes $11.7 Billion in Cuts to Crop Insurance Subsidies

Crop cutsThe budget proposal President Barack Obama sent to Congress April 10 includes $11.7 billion in cuts to federal crop insurance subsidies over the next decade. The White House estimates the federal government will save $37.8 billion over the next 10 years by combining those cuts with limits on direct farm payments...

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Liberty Mutual Insurance Elects David H. Long Chairman

Liberty MutualThe Liberty Mutual Insurance Board of Directors today elected David H. Long, 52, Chairman of Liberty Mutual Insurance, effective June 28, 2013. Mr. Long, who is currently the company's President and Chief Executive Officer, will succeed Edmund F. (Ted) Kelly, 67, who is retiring as Chairman and Director a...

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Florida Property Insurance Rates Could Go through the Roof under Senate Bill

Florida property rates

As a complex property insurance bill has cruised through the Florida Senate, lawmakers have heard several frightening figures detailing what would happen to the state after a massive hurricane: More than $9 billion in "hurricane taxes," $100 billion in damages and untol...

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PCI’s Gordon Highlights the Challenges and Opportunities in the TRIA Renewal Debate

PCIThe Terrorism Risk Insurance Act (TRIA), a national security safety net to protect economic activity before and after a terrorist attack, is set to expire at year-end 2014.  While reauthorization is likely to receive strong support in Congress, success may come late in the process, predicted Robert Gordon, senior vice pr...

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