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The competitive reinsurance pricing environment will push companies to innovate and invest in alternative financing in 2014, said property and casualty insurance experts at the turn of the New Year...
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RIMS Names New President for 2014
Carolyn M. Snow, director of risk management for Humana Inc., has been appointed RIMS' president for the 2014 term. Snow has been a RIMS member for 14 years and has served on its board of directors for seven years...
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A Few Words of Caution in A.M. Best's Otherwise Positive 9-Month Industry Review
A.M. Best says the P&C industry could see its first yearly underwriting profit since 2009, but commercial lines underwriting results saw some deterioration in the third quarter, and the ratings agency reiterated concerns about the industry's reserve position...
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SEC Pushes U.S. Insurers For Details on Captives
The U.S. securities regulator has asked life insurers to disclose the potential cost of forcibly winding down in-house insurance units known as 'captives,' whose business model has come under regulatory radar, the Wall Street Journal reported...
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Judge Dismisses Katrina Lawsuits Against Army Core of Engineers
A federal district court judge has dismissed numerous lawsuits filed by New Orleans-area residents against the Army Corps of Engineers related to 2005's Hurricane Katrina...
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Risky Behavior Cited in Most ATV Fatalities
Of the individuals involved in fatal ATV crashes in recent years, 87% were not wearing helmets and almost half were drunk, reports the IIHS...
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CoreLogic Acquires Cat Modeler Eqecat
Data analytics company CoreLogic has confirmed its acquisition of catastrophe modeler Eqecat...
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Cat Bond Use Soars in 2013; Expected to Be Strong in 2014
The catastrophe bond market is thriving, and sponsors are finding continued strong demand for a diversifying set of risks, according to Fitch Ratings...
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Pro Basketball Player's Workers' Comp Claim Rejected by California Court
A court in California has ruled that the state did not have a sufficient interest in a workers' compensation claim filed by a professional basketball player who had played only one game in California and, therefore, it could not apply California's workers' compensation law to the player's claim...
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Lockton: 2014 Likely a Buyer's Market for the Right Risks
Low catastrophe losses, premium growth and increased competition strengthened the property and casualty industry's bottom line in 2013, but those same factors will create downward pressure on pricing in the coming year and create a continued, if uneven, buyer's market, says broker Lockton...
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Report: Florida Tops in Nation for Homeowners Rates
Florida is the most expensive U.S. state for home insurance, according an annual NAIC report...
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Fitch: E&S Market Will Feel Impact of Berkshire's Expansion in Coming Quarters
While Berkshire's aggressive expansion in the excess and surplus lines space earlier this year through the hiring of top American International Group employees hasn't significantly altered the market yet, Fitch says it expects pricing implications related to this expansion "to materialize in coming quarters."...
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06 Jan, 2014
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Source: http://insurancedataonline.blogspot.com/2014/01/week-in-review-january-6-2014.html
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