P&C Insurers Benefit From Reserve Releases

Much like a farmer bringing in his crop in the fall, U.S. property/casualty insurers have harvested significant reserve redundancies, according to a report issued today by Moody’s Investors Service, leaving a narrower cushion for the next 12 to 24 mont…

Property/casualty rates fall 3% in July

Commercial property/casualty insurance rates dropped an average 3% in
July compared with a year earlier, MarketScout said Thursday.
The
Dallas-based electronic insurance exchange said the service industry
enjoyed the most competitive pricing among …

Older drivers may be safer than we think

Maybe the derogatory "Get off of the road, Granny!" should be altered slightly. "Would you please take the keys, Grandma?" might be appropriate. The prevailing wisdom for years has been that older drivers are too slow and prone to accidents. Sometimes those accidents make national headlines, such as …

Research team keeps 2010 forecast at 10 hurricanes

MIAMI — The Colorado State University hurricane forecasting team on Wednesday maintained its 2010 Atlantic hurricane season forecast at 10 hurricanes, five of them expected to be major. The leading storm research team, founded by hurricane forec…

Distracted Drivers: In Summer, Men Have Accidents Ogling Women, Says Study

Summer  brings short skirts, bikini tops and low-cut blouses, all which apparently lead men to get into car accidents more frequently than in the winter, according to a new study. That’s right, 29 percent of men admit to being distracted by women…

Florida Orders Company To Stop Selling Unauthorized Health Insurance

The Association for Independent Managers may have already sold 1,800 unauthorized policies in Florida that "could leave Floridians who buy the coverage without insurance when they need medical care," The Miami Herald reports. "The Department of Financial Services has received complaints from about 100 consumers involving 49 agents selling health …

Hybrid Vehicle Claims More Costly for Insurers

From a claims severity and frequency perspective, hybrid vehicles represent a more costly overall risk to insure than their gas only powered cousins, according to Greg Horn, Mitchell International Inc.’s VP of Industry Relations. Horn’s comments…

Hybrid Vehicle Claims More Costly for Insurers

From a claims severity and frequency perspective, hybrid vehicles represent a more costly overall risk to insure than their gas only powered cousins, according to Greg Horn, Mitchell International Inc.’s VP of Industry Relations. Horn’s comments…

Taking Aim at Teen Drivers

A new national survey reveals broad support for restricting the driving privileges for teenagers in the name of safety. The survey, conducted by the Insurance Institute for Highway Safety (IIHS), queried 1,200 parents of 15-18 year olds, and found sup…

Insurers’ Top 10 Underwriting Priorities

Faster turnaround and easy, efficient collaboration with agents is oft-said to be of paramount importance to insurers in regard to their underwriting operations. And, according to a new survey released by FirstBest Systems Inc., this is still very much…