Bloomberg – Jun 28, 2012 Claims for unemployment insurance payments decreased by 6,000 to 386,000 in the week ended June 23, according to Labor Department figures issued today in Washington. The revised 392,000 claims in the previous week matched the most this year. The Bloomberg Consumer Comfort Index also showed growing apprehension over the state […]
Chartis to Switch Back to AIG Name PropertyCasualty360 June 28, 2012 Chartis, the property and casualty unit of American International Group, will revert back to the AIG name, according to internal memos at the insurer, NU has learned. AIG had rebranded its P&C unit as Chartis in 2009, and at one time considered making Chartis […]
Business Insurance – June 28, 2012 Rates in the global insurance market firmed in general, according to a new market index released by Marsh Inc. on Thursday. The new Marsh Risk Management Global Insurance Index is based on renewal data from 20 major countries in casualty, property and financial and professional insurance lines. The […]
Despite reforms passed by Illinois lawmakers in 2011, the general consensus among employers is that rates are not decreasing, but they continue to rise. David Vaught, director of the state's Department of Commerce and Economic Opportunity is of the idea that it will be up to the insurance companies to pass along any rate reductions […]
June 25, 2012 According to a new residual market report by NCCI that came out on June 22, 2012 after six straight years of decreases, the number of new applications and the amount of new premium bound in the residual market started to grow in the second half of 2011 and continued to grow into […]
Property/casualty insurer reserves declining: Analysis Business Insurance June 22, 2012 The U.S. property/casualty insurance industry's reserves are slightly deficient, investment bank Keefe, Bruyette & Woods Inc. said in a report issued Friday. According to firm's “2012 Annual P&C Industry Reserve Review,” the positive reserve development the sector has seen in recent years will not continue. […]
Travelers Insurance Company will pay $10.5 million in refunds and penalties for violations of California insurance law. This is the same story all over again. This year it's Travelers in California. Last year, it was ACE, Zurich, CNA, PMA in New York. Brokers, there is plenty more money from these overcharges due to your clients. […]
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zywave Comments Off on Travelers to Pay Premium Refunds; Joins ACE, Zurich, CNA, and PMA who Have Already Paid for Workers Comp Overcharged Premiums |
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A Close Look at the State of Workers Comp, Future Changes, & Solutions to Recovering Premiums Featuring Simon Feuer, president, APEX Services Posted on 13 Jun 12 by Program Business's Annie George There has been much ado about the Workers Compensation market over the last several years, and particularly in the last six months or […]
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Tue Jun 12, 2012 4:05pm EDT Fitch: Workers' Compensation Remains Weakest Commercial Lines Segment Workers' compensation, the largest commercial lines segment representing approximately 18% of commercial lines net written premiums in 2011, posted a statutory combined ratio of 117% in 2011, according to a new report by Fitch Ratings. This result is 9.5 percentage points […]
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zywave Comments Off on Workers Compensation Brokers Should Prepare as market hardens with major workers comp premium increases |
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June 11, 2012, 9:05 a.m. EDT SOURCE: Towers Watson NEW YORK, Jun 11, 2012 (BUSINESS WIRE) — Commercial insurance prices in aggregate increased by nearly 5% during the first quarter of 2012 — the fifth consecutive quarter that prices rose for all standard commercial lines. In addition, commercial insurers' loss ratios stabilized for most insurance […]
