Commercial Lines

Nationwides CFO says he would anticipate some upward rate movement from the insurance industry in the wake of Superstorm Sandy.

Liberty Mutual has been announced as the official property and casualty and life insurance sponsor of the U.S. Olympic and Paralympic Teams for the 2014 and 2016 games in Sochi, Russia, and Rio de Janeiro.

In the wake of Superstorm Sandy, Fitch Ratings service released a report saying that even if losses were to reach Katrina proportions, the industry would still be positioned to handle it and post a statutory profit.

In the wake of the election, property and casualty insurance-industry officials promised to work constructively with President Obama, his administration and Congress to protect and advance industry interests over the next four years.

Barack Obama was re-elected president of the United States in a close election that portends that current policies will be maintained. This includes healthcare reform and implementation of the Dodd-Frank financial services reform law.

Domestic insurance companies reported mixed third-quarter results, with State Auto taking a net loss, although a narrower loss than last year, while EMC Insurance Group and Safety Insurance Group reported higher net income.