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10, 2015
Hanover Q3 Profit Increases 42% to $78M
The Hanover Insurance Group Inc. reported $78.3 million net income for its 2015 third quarter, a 42.6 percent increase from $54.9 million net income reported a year earlier. The Worcester, Massachusetts-based insurer said the latest quarterly results were helped by …
29
10, 2015
Economic Risks of Climate Change, Climate Fiction and Climate Control
With fresh news out on the global economic cost of climate change, an enticing climate fiction contest and a sweet victory for this column, it would take till Christmas to individually cover it all in this bi-weekly column. So I’ll …
29
10, 2015
Nebraska Man Gets Jail Time in Auto Insurance Fraud Case
A North Platte, Neb., man accused of driving his car into a canal so he could collect on his insurance has been sent to prison. Court records say 32-year-old Josh Salisbury was sentenced to 18 to 36 months for insurance …
29
10, 2015
Swiss Re’s 1st 9 Months 2015 Consolidated Net Income up 12% at $3.659 Billion
Swiss Re reported consolidated net income of $3.659 billion, a 12 percent increase, for the first nine months of 2015, compared to $3.255 billion for the first 9 months of 2014. $1.399 billion was earned in the third quarter. Swiss …
29
10, 2015
Shortchanged Sandy Victims Get More Flood Insurance Cash After Claims Review
Many people who complained a federal insurance program shortchanged them after Superstorm Sandy swamped their homes are getting some validation three years later in the form of cash. A Federal Emergency Management Agency review launched in the spring has been …
29
10, 2015
A.M. Best: Outlook Stable for Midwest Builders’ Casualty Mutual, Subs
A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” for Midwest Builders’ Casualty Mutual Insurance Co. (MWBC) and its subsidiaries, Horizon Midwest Casualty Co. (Horizon) and Bearing …
29
10, 2015
Arthur J. Gallagher Creates Technical Advisory Board; Appoints Jack as Head
Arthur J. Gallagher — the international division of Arthur J. Gallagher & Co. – has appointed David Jack to lead its newly created Technical Advisory Board. The board will oversee a review of the business’ existing systems to identify ways …
29
10, 2015
Florida Regulators ‘Encouraged‘ by Insurers’ Stress Test Results
Florida property insurers are well-capitalized and able to handle a 1-in-100 year storm event if and when it occurs in the state, according to the Florida Office of Insurance’s 2015 Data Call and subsequent stress test report. The annual Reinsurance …
29
10, 2015
Atlantic Hurricane Season Enters Final Stretch with No-Hit Record Intact
It has been 10 years since a major hurricane hit the U.S., and as the Atlantic season staggers into its last month, every day that passes seems certain to extend that record streak. Wilma was the last major system, striking …
29
10, 2015
New Jersey Sandy Protesters Blast Gov. Christie
Some victims of Superstorm Sandy in New Jersey said they feel New Jersey Gov. Chris Christie has forgotten about them in his pursuit of the presidency. About a dozen protesters intended to pitch tents and camp out across from the …