December 13, 2010
Indiana-based property and casualty insurer Baldwin & Lyons Inc. announced that Joseph J. DeVito was elected to the position of chief executive officer, replacing Gary W. View Full Article »
Tag Archive: casualty
NU Online News Service, Dec. 10, 3:16 p.m. EST
Count New York City among a growing number of municipalities in the United States looking to make up for budget constraints by seeking to charge motorists involved in an accident if they need the fire department.
The city plans to charge motorists close to $500 if the city’s fire department has to come to their aid. View Full Article »
December 10, 2010
Heffernan Insurance Brokers has added Melodie Hight in its Portland, Ore., office as a producer in Commercial Property and Casualty Insurance.
Hight has more than 20 years in commercial property and casualty insurance. She previously worked for Beecher Carlson in Portland, where she headed the service team for the firm’s Nonprofit Practice. She will continue that focus by working in Heffernan’s Nonprofit Choice practice. View Full Article »
December 10, 2010
Heffernan Insurance Brokers has added Melodie Hight in its Portland, Ore., office as a producer in Commercial Property and Casualty Insurance.
Hight has more than 20 years in commercial property and casualty insurance. She previously worked for Beecher Carlson in Portland, where she headed the service team for the firm’s Nonprofit Practice. She will continue that focus by working in Heffernan’s Nonprofit Choice practice. View Full Article »
December 10, 2010
Markel International, the specialty property and casualty insurer, announced that it has strengthened its retail division, Markel (UK) Limited, with two senior appointments. Dave Robson and Graham Morse have been appointed as development underwriters specializing in social welfare. Robson will concentrate on the north east. View Full Article »
December 8, 2010
Dallas-based MarketScout Wholesale (MSW) has added Shawn Chummar as a broker in its Pacific Northwest location based out of Portland, Ore. Previously, Chummar worked for more than 12 years at a regional wholesale insurance broker. Although he will be handling all lines within the property and casualty sector, his primary focus will be professional lines including errors and omissions, nonprofit directors and officers, management liability, employment practices liability, and cyber liability.
MSW is partnered with MarketScout Internet Exchange, an electronic insurance exchange that underwrites and distributes product lines to its 47,000-member agency network across the United States.
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December 7, 2010
Indianapolis, Ind.-based independent agency MJ Insurance announced it has added Tamra Brodie as marketing underwriter in the Employee Benefits Division and BJ Moore as a property and casualty producer in the Construction Practice Group.
Brodie has more than 15 years of industry experience. As a marketing underwriter, she will specialize in plan design and cost analysis, as well as underwriting and health care risk management. Prior to her new role as marketing underwriter, Brodie worked as a medical underwriter at RGI, a division of Key Family of Companies
Moore brings 13 years of industry expertise to MJ. View Full Article »
December 6, 2010
The insurance industry is recovering from the economic crisis, but profits are nowhere near where they were prior to the crisis, and it will take California even longer to rebound, according to Robert Hartwig, president of the Insurance Information Institute.
In a recent presentation, “Overview and Outlook for the P/C Insurance Industry: Challenges and Opportunities for 2011 and Beyond,” Hartwig predicted the property/casualty insurance industry will see growth in 2011 — the first time since 2006. Increase in demand for commercial insurance is in its earliest stages and will accelerate in 2011, he said. Some growth areas include workers’ compensation, commercial auto, marine and many liability coverages.
Yet the economicst cautioned the industry not to expect a dramatic turnaround from the financial crisis the past few years. View Full Article »
December 6, 2010
The federal government’s new role in insurance regulation poses significant challenges and opportunities for the insurance industry, according to insurer trade group executives.
The establishment of the Federal Insurance Office (FIO) is one of the few provisions under the Dodd-Frank Act that could affect insurers, although exactly what the impact will be is uncertain.
“We are sailing into uncharted waters” in terms of insurance regulation,” said Steve Broadie, vice president for financial policy, Property Casualty Insurers Association of America (PCI). He was among the speakers at at the annual meeting of the Casualty Actuarial Society.
Broadie said that for the most part insurers have been spared many of the regulations in the Dodd-Frank Act which reformed regulation of financial services. Insurers are unlikely to be subjected to systemic risk regulations or liquidation provisions contained in the law. View Full Article »