CNA Reports Q4 Loss on Catastrophes, Investments

Article 0 Comments Catastrophe claims and a disappointing investment performance drove commercial lines insurer CNA Financial Corp. to an $84 million loss in the fourth quarter of 2018. The quarter’s $84 million net loss compare to $223 million in net income in the same quarter of 2017. The overall property/casualty […]

Affluent Market Rivals Not Making Much of a Dent in Chubb’s Business

Article 0 Comments Chubb’s high-net-worth personal lines insurance business may have some new competition, but Chairman and CEO Evan Greenberg and a key executive say those rivals haven’t made much of a dent. “From my point of view we don’t see a change of any consequence in the competitive environment […]

Texas Brokers Have Until Feb. 28 to Correct Late-Filed Surplus Lines Policies

Article 0 Comments Brokers who file Texas surplus lines policies with SLTX will have until Feb. 28, 2019, at 5 p.m. central time to file any necessary adjustment forms or make corrections before the annual late filers report is produced, the stamping office reported. Once the report is generated, SLTX […]

How Commercial Insurance Rates Changed in Q4 and 2018: IVANS

Article 0 Comments Renewal premium rates for nearly all major commercial insurance lines increased in the fourth quarter of last year with the exception of workers’ compensation where the average rate dropped and remained negative. The 2018 IVANS Index for Q4 and year-end shows that commercial auto, general liability, commercial […]

SLTX: Texas’ Excess, Surplus Insurance Premium Grew 11.4% Last Year

Article 0 Comments The Surplus Lines Stamping Office of Texas (SLTX) reported that the state recorded $6.08 billion in excess and surplus insurance premium for 2018, representing an 11.4 percent growth over 2017. Certain coverages have continued an upward trend of increased premium. Fire and allied lines showed a growth […]

Arch Insurance Europe Finalizes Purchase of Ardonagh’s UK Commercial Lines Business

Article 0 Comments Arch Insurance Europe has completed the acquisition of the UK commercial lines business owned by The Ardonagh Group and part of its Geo Underwriting operating segment. The acquired business, which generated more than £150 million ($190 million) of gross written premium in 2017, will become the newly […]

Texas Surplus Lines Industry Sees Rule Changes at Year’s End

Article 0 Comments New rules for the Texas surplus lines insurance industry are coming into effect at the end of 2018 and beginning of 2019. According to the Surplus Lines Stamping Office of Texas (SLTX), one of the most pressing changes concerns the untimely filing of policies. Rule §15.114, which […]

Austin Agents, Texas Surplus Lines Assoc. Donate $2,775 to Food Bank

Article 0 Comments The Independent Insurance Agents of Austin and the Texas Surplus Lines Association Inc. joined efforts in December to collect food and money for the Capital Area Food Bank located in Austin, Texas. At the IIAA Christmas luncheon held at the A&T Executive Hotel & Conference Center on […]

Utilities to Cover Power Lines, Expand Weather Monitoring in High Risk Areas

Article 0 Comments California utilities plan to insulate power lines, increase inspections and build new weather stations in areas at high risk for wildfires in an effort to combat increasingly destructive blazes. Southern California Edison told legislative employees this week it wants to spend $582 million to cover some of […]