Tag: property and casualty insurance

Homeowners insurance costs in Florida are finally leveling off

G. Turner
Homeowners Insurance Florida

The state is approaching the hurricane season’s statistical peak very soon and property policies remain comparatively reasonable. Next Wednesday, on September 10, the hurricane season will has reached its peak, and so far, Florida has managed to make its way through another year without being affected by any serious storms, and this good luck has had a highly positive impact on the cost of homeowners insurance in the state. This was not the case when Hurricane Andrew struck the state and left devastation behind 22 years ago. That storm altered…

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Software is making the insurance industry more efficient

Marc
Insurance news technology internet of things

Technology is becoming a powerful tool for insurance companies IBISWorld, a global business intelligent organization, has released a new report concerning the effect that new technology is having on claims processing in the U.S. Claims are nothing new for the industry, but how insurers deal with the claims they receive has been evolving rapidly over the years. As new technology becomes available, insurance companies are finding better ways to manage claims and process these claims at a more rapid pace. Insurers are also become more adept at weeding out fraudulent…

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Insurance company results drop at Berkshire Hathaway in Q1

Julie Campbell
Warren Buffett Berkshire Hathaway Insurance industry

The property and casualty business is sliding when compared to last year’s figures. In the first quarter of this year, the primary property and casualty Berkshire Hathaway insurance company operations have managed to record gains in the double digits for their pre-tax earnings, but this isn’t all good news. The reinsurance results have led to an operating earnings drop of 6.6 percent overall for the conglomerate. When Berkshire Hathaway Reinsurance Group’s first quarter figures are compared to the earnings from the first quarter of 2013, the situation looks even worse.…

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Property and casualty insurance industry will continue holding strong

Julie Campbell
Property and Casualty Insurance

Moody’s has released its global predictions and has suggested that P&C will remain stable. Moody’s Investors Service Inc. has now released its predictions regarding the global property and casualty insurance industry, and they have designated its future as being “stable” for the next while. This data was first released at the end of last week as Moody’s provided its industry forecasts. Moody’s put out its “2014 Outlook – Global P&C Insurance” report and, within it, the firm showed that property and casualty insurance premiums will be continuing their growth within…

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Property and casualty insurance rates increased by 5 percent last month

G. Turner
Property insurance News commercial P&C insurance

According to MarketScout data, the prices rose in April for policyholders of commercial products. According to a report from MarketScout, the rates for commercial property and casualty insurance rose by an average of 5 percent in April 2013, when compared to the rates that were being charged a year before. It was workers compensation and commercial property that saw the largest increases over a year. The commercial property and casualty insurance and workers compensation saw a combined average rate increase of 6 percent. Surety and employment liability coverage each increased…

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