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Daily NewsFlash : May 22, 2013

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Wednesday, May 22, 2013

Oklahoma Tornado May Cost Property-Casualty Insurers A Couple of Billion

Oklahoma tornadoProperty-casualty insurance companies are expected to face at least a couple billion dollars of insured losses from the tornado near Moore, Okla., according to rough calculations by Wall Street analysts.

Some consumer activists are already expressing concern about homeowners falling short of the needed m...

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Brown & Brown, Inc. Enters Into Agreement to Acquire Beecher Carlson Holdings, Inc. for $336.5M

Brown & Brown acquisition of Beecher CarlsonJ. Powell Brown, Chief Executive Officer and President of Brown & Brown, Inc, today announced that Brown & Brown, Inc. has entered into a merger agreement to acquire Beecher Carlson Holdings, Inc. ("Beecher Carlson"), an insurance and risk management broker wi...

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Mutuals Are Biggest Property/Casualty Insurers in Oklahoma

OK carriersAs insurance stocks slip a day after violent tornadoes swept through towns just south of Oklahoma City, it's worth noting none of Oklahoma's three biggest property-and-casualty insurers by market share are publicly held.

State Farm has a 28% share among homeowners, followed by Farmers at 18% and L...

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Apex Services: NJCRIB Reports Assigned-Risk Premiums Up 42% in 2012

NJ Workers CompensationAccording to the 96th annual report released last week by the New Jersey Compensation Rating and Inspection Bureau (NJCRIB), New Jersey's residual market increased by 10.1% and the assigned-risk premiums increased by 42% in 2012.

Furthermore, rates in the New Jersey voluntary market ...

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Virtual Insurance Marketplace Brings Together CA Agents, Brokers and Insurance Professionals

Virtual Insurance MarketplaceThe Virtual Insurance Marketplace, taking place next week on May 29-30, is focused on California Property & Casualty Agents and Brokers and Insurance Professionals and free for all attendees. Direct Connection A...

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Glatfelter Service Center Honored in 2013 HDI CSAT Elite 50

Glafelter honoredThe Service Center at Glatfelter Insurance Group has been recognized as #17 out of the top 50 support centers in the 2013 HDI CSAT Elite 50 - and is the top ranked service center in the insurance sector. HDI is the world's largest professional association and certification body for technical s...

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Senate to Debate Crop Insurance Cuts in Farm Bill

Crop Insurance BillThe Senate is debating cuts to the federally subsidized crop insurance program as it considers a massive farm bill this week. 

The Obama administration said Monday it wants to see more cuts to crop insurance and farm subsidies in the legislation, which would cost almost $100 billion a ye...

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KPMG Releases Expectations of Risk Management Outpacing Capabilities Survey

KPMG survey KPMG International announced in a survey report, Expectations of Risk Management Outpacing Capabilities, regulatory pressure is consistently one of the biggest threats facing companies across industries, and the number one challenge facing financial services and energy and natural resources companies.

In a ...

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