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Most Read Brokers & Insurers News

Workers compensation market 'conflicted' despite economy's rebound: NCCI

Published May 10, 2012 CST

While workers compensation insurer premium growth shows “that the worst of the recession has passed,” the insurance market for injured-employee coverage “remains in a worrisome state,” NCCI Holdings Inc. reported Thursday.

Lloyd's of London unveils long-term strategic initiative

Published May 11, 2012 CST

Lloyd's of London is looking toward greater growth in new markets as part of a long-term strategy unveiled Friday. PLUS: Watch our exclusive video interview with Lloyd's America President Hank Watkins.

Lloyd's of London announces long-term strategy

Published May 13, 2012 CST

LONDON—Lloyd's of London is looking toward new markets for growth and financing as part of its long-term strategy, Vision 2025, unveiled last week. PLUS: Watch our exclusive video interview with Lloyd's America President Hank Watkins.

Zurich first-quarter profit jumps, rising premiums eyed

Published May 10, 2012 CST

ZURICH (Reuters)—Switzerland's Zurich Insurance Co. Ltd. beat expectations on Thursday with a 78% rise in first-quarter profit, helped by fewer large natural catastrophes than the year before, and said premiums were set to rise.

N.Y. Fed sells AIG bailout assets to Merrill Lynch

Published May 10, 2012 CST

NEW YORK (Reuters)—The New York Federal Reserve on Thursday said it sold all its TRIAXX collateralized debt obligations from a portfolio of assets that was used in the government bailout of insurer AIG to Merrill Lynch following a competitive bid process with eight other Wall Street firms.

Aspen Insurance chief Mario Vitale discusses 2012 market

Published May 13, 2012 CST

Mario Vitale is co-CEO of Aspen Insurance in New York. During the Risk & Insurance Management Society Inc.'s recent annual conference in Philadelphia, he spoke with Business Insurance Senior Editor Mark A. Hofmann about the current and future challenges facing the insurance industry.

Commercial property/casualty market has turned: Council president

Published May 08, 2012 CST

Pricing for commercial property/casualty insurance accounts increased an average of 4.4% during the first quarter this year compared with the same period last year, according to a survey released Tuesday by the Council of Insurance Agents & Brokers.

Asbestos trust funds needs greater transparency to prevent fraud: Witnesses

Published May 10, 2012 CST

WASHINGTON—The congressionally created system of asbestos trust funds needs greater transparency to prevent potential fraud, a series of witnesses told a House panel Thursday.

GALLERY: Insurance apps go commercial

Published May 08, 2012 CST

Commercial insurance apps are beginning to appear, many with advanced functionalities tailored specifically for commercial endeavors such as long-haul trucking.

New Business Insurance newsletter explains how insurers use technology

Published May 10, 2012 CST

While the insurance industry is widely perceived as lagging compared with other financial services when it comes to adopting new technologies, that perception belies some innovative uses of leading-edge technologies throughout the insurance ecosystem.

Catlin premiums rise 12% in first quarter of 2012

Published May 11, 2012 CST

HAMILTON, Bermuda—Catlin Group Ltd. on Friday reported a 12% rise in gross premiums written for the first quarter of 2012.

Swiss Re names head of Latin America reinsurance unit

Published May 11, 2012 CST

MEXICO CITY—Swiss Re has announced the appointment of Alejandro Padilla as head of reinsurance Latin America North and president of Swiss Brokers Mexico Intermediario de Reaseguro S.A. de C.V., effective June 1.

Judge tells insurer to pay insider trading legal fees—for now

Published May 10, 2012 CST

NEW YORK (Reuters)—A federal judge said during a court hearing in New York on Thursday he is prepared to order an insurance company to keep paying the legal fees of several former hedge fund managers and traders caught up in an insider trading investigation.

Property/casualty insurance rates up 3% in April: MarketScout

Published May 04, 2012 CST

The composite rate for commercial property/casualty and professional lines coverage increased an average of 3% in April 2012 compared with the same month a year ago, MarketScout said Friday.

Former AIG CEO Greenberg eyes reversing N.Y. fraud case

Published May 15, 2012 CST

NEW YORK (Reuters)—Former American International Group Inc. Chief Executive Maurice R. Greenberg said New York's attorney general should be barred from invoking a 91-year-old state law in a fraud case over two suspect reinsurance transactions.

Italian insurer Generali's first-quarter profit beats forecast

Published May 11, 2012 CST

MILAN (Reuters)—Assicurazioni Generali S.p.A., Europe's No. 3 insurer, posted a better-than-expected quarterly profit on improved performance at its nonlife and financial businesses, a sign earnings were stabilizing after a difficult 2011.

Specialty insurer Torus names Tim Harris as group CFO

Published May 15, 2012 CST

LONDON—Torus Insurance Holdings Ltd. has named Tim Harris as group chief financial officer, the specialty insurer announced Tuesday.

Insurers buying Web-based claims, billing systems

Published May 10, 2012 CST

Recent purchases by insurance companies demonstrate a commitment to improving customer-facing processes such as claims and billing.

15 health insurers in N.Y. to pay $2.7M for violating 'Timothy's Law'

Published May 09, 2012 CST

ALBANY, N.Y.—Fifteen health insurers in New York will pay a total of $2.7 million to the state's Department of Financial Services for failing to notify small businesses of available coverages for mental illness and children with serious emotional disturbances.

Crump Insurance uses cloud technology on insurance portal

Published May 13, 2012 CST

Roseland, N.J.-based Crump Insurance Services Inc. turned to cloud-based technology when it launched its portal for excess and surplus lines insurance last year.

Alterra reports $79 million profit for first quarter

Published May 10, 2012 CST

HAMILTON, Bermuda—Alterra Capital Holdings Ltd. reported a profit of $79.0 million for the first quarter of 2012, compared with a net loss of $46.7 million for the same quarter of 2011.

Insurer Tryg’s first quarter profit up on mild winter, cost control

Published May 14, 2012 CST

COPENHAGEN (Reuters)—The Nordic region's second-biggest insurer Tryg on Monday reported a bigger-than-expected rise in first quarter pretax profit on the back of cost control and a mild winter resulting in a low level of weather related claims.

Allianz's preliminary results show 60% rise in first-quarter net income

Published May 09, 2012 CST

MUNICH—Net income for Allianz S.E. in the first quarter of 2012 topped €1.4 billion ($1.83 billion), up nearly 60% from the €915 million ($1.20 billion) over the same period in 2011, according to preliminary figures released Wednesday.

Business Insurance In FOCUS video: Online insurance portals and platforms

Published May 15, 2012 CST

In our latest weekly video, we examine how online insurance platforms are enhancing information collection and offering insights into the insurers available for placements and the prices and limits available.

Allianz wary of euro zone shocks after strong quarter

Published May 15, 2012 CST

FRANKFURT (Reuters)—Allianz S.E. warned on Tuesday that fallout from the euro zone crisis could cause it to stumble even though Europe's biggest insurer reported a 40% jump in first quarter earnings.