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National Underwriter Property And Casualty Insurance News.

January 10, 2011

Cover Story

In all my years of underwriting contingency and event cancellation business I have never experienced such a diverse range of potential loss circumstances as we faced during 2010....



News

An executive with Reagan Consulting believes the current rate of merger and acquisition activity over the past five weeks will not be sustained throughout 2011....

The American Bankers Association is calling for “wholesale” overhaul of the National Flood Insurance Program (NFIP), including providing incentives for the private market to assume a greater role....

Liberty Mutual reached an agreement with two state attorneys general to pay a total of $7.5 million to settle allegations it engaged in a bid-rigging and kickback scheme with insurance brokers....

Allstate Insurance Co. filed a federal lawsuit against Countrywide Financial Corp. late last month, seeking damages related to its purchases of more than $700 million in mortgage-backed securities from the company. ...

Proposed changes in U.S. accounting standards aimed at bringing them in line with those used by European firms would “radically transform” the accounting methodology used by property and casualty and life insurers....

In a note to investors, a J.P. Morgan analyst said losses to the insurance industry due to extreme flooding in Australia stand at an estimated $1 billion....

Market Report

When reality TV programs first appeared on our television screens, many thought it was just another fad that would not last. Indeed, many more hoped it would disappear to ensure quality broadcast programming....

Private commercial companies are using more of their own capital to develop spacecraft to deliver cargo and humans to space, bringing forth new needs for commercial insurance....

The road to marriage is full of rewards and fraught with perils, a fact made quite clear in those traditional vows: for better, for worse; for richer, for poorer; in sickness and in health. ...

When Louis Levinson of Argo Group described a recent restructuring of the company’s U.S. E&S units to NU late last year, he began with a simple comparison of two organizational charts....

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