Commercial Lines

Property and casualty carriers enjoyed a strong hiring month in December, boosting employment for this subsector of the insurance industry to its highest level in 2012, according to the most recent figures from the U.S Labor Departments Bureau of Labor Statistics.

Superstorm Sandy, a decrease in favorable prior-year development and non-catastrophe losses and resulted in a net loss of $9 million for the 2012 fourth-quarter at CNA Financial Corp.

Forecasters are warning that a winter storm currently hitting the East Coast could be one for the record books, and it is being taken seriously as residents scurry to stock up on food, water, and gas. Road crews are also on standby with salt and sand.

The Hanover posted a fourth-quarter net loss of $55 million primarily due to the impact of Superstorm Sandy, while two other regional insurersCincinnati Financial and Selectivemanaged more positive results.

Property and casualty insurance companies and agents are counted on to deliver claims checks that help people rebuild lives and property. But beyond their obligations to their customers, the insurance industry sponsors widespread charity efforts encompassing companies of every shape and size. To highlight the insurance industrys charitable efforts, here...

Catastrophe models will continue to be exposed by events like Superstorm Sandy because they can fail to contemplate all possible sources of loss, says Lockton Cos.