David Sampson, president and CEO of the American Property Casualty Insurance Association (APCIA), discusses the current state of the “dysfunctional, hyper partisan” U.S. government, and that there is little on the horizon that suggests polarization will end any time soon. Still, Mr. Sampson points to several successes over the past year, including the reauthorization of TRIA (Terrorism Risk Insurance Act). …

The property-casualty insurance industry gives about $1 billion each year to charitable causes. That according to a McKinsey Study conducted for the Insurance Industry Charitable Foundation (IICF). IICF CEO Bill Ross says the industry supports a variety of charities across the US, with a focus on education as well as health and human services. He says it important for companies …

According to Stefan Holzberger, Chief Rating Officer at A.M. Best, the property-casualty sector of the insurance industry saw improvements in performance. And with levels of capitalization “robust”, A.M. Best is maintaining a “Stable Outlook” on the Personal Lines, Commercial Lines and Reinsurance sector from a credit perspective. The reinsurance sector was only recently upgraded to “Stable” from “Negative”, despite heavy …

Phil Reynolds, CEO and Co-Founder of BriteCore, outlines the disruptive nature of insurtech companies, and what traditional companies are doing to access new and emerging technology services. Mr. Reynolds describes an online experience he had with one insurtech company that asked for his home address and was able to assemble county records, a visual flyover, the home’s square footage and …

Jerry Theodorou, a Vice President of Insurance Research at Conning, previews a strategic study that looks at Mutual property-casualty insurance companies. According to Mr. Theodorou, there is an elevated degree of concern in five areas: technology, expense ratios, the war for talent, demographic and sociodemographic changes, and the future for personal auto. Conning is finding Mutuals are reacting proactively with …

ROLLING MEADOWS, Ill., April 26, 2017 /PRNewswire/ — Arthur J. Gallagher & Co. (NYSE: AJG) today announced the acquisition of Tulsa, Oklahoma-based Commercial Insurance Brokers, LLC. Terms of the transaction were not disclosed. Formed in 2012, Commercial Insurance Brokers is a group of insurance producers and service personnel offering a broad range of property/casualty and employee benefit products and services to …

With the property reinsurance market experiencing soft pricing for some time, WRIN.tv spoke with Jim Larkin, Head of Property Underwriting at Munich Re America, about the impact of Hurricane Matthew, and other factors affecting the market. While it is unclear if Hurricane Matthew would have any impact on reinsurance renewals, Mr. Larkin believes the storm was a reminder about the …

ARLINGTON, VA, October 26, 2016 — The marketplace for property, casualty and other lines of commercial insurance will continue to favor insurance buyers in 2017, particularly those with comprehensive strategic risk management and risk transfer strategies, according to global advisory, broking and solutions company Willis Towers Watson’s (NASDAQ: WLTW) 2017 Marketplace Realities report. The report, published today, serves as a …

In this edition of WRIN.tv Headline News (click on the headline for the full story): • The 2016 Olympics are underway thanks in part to insurers writing over a billion dollars in coverage for terror, crime, safety and the Zika virus  • The augmented reality game Pokemon GO is spawning lawsuits and liability questions • A new RIMS Report provides …

In a new report, the Council of Insurance Agents and Brokers (CIAB) says Commercial Property-Casualty rates decreased by an average of 3.9 percent in the second quarter of 2016. Carriers appear to be pricing new business aggressively, while trying to hold rates steady on renewals. According to CIAB President & CEO Ken Crerar, The Council is keeping a close eye …