Insurance analysts say modest rate increases for property and casualty risks will extend into 2013, as the overall economic environment is not expected to change dramatically in the coming year.

Insurance analysts say modest rate increases for property and casualty risks will extend into 2013, as the overall economic environment is not expected to change dramatically in the coming year.

The Hartford and Hanover Insurance Group released their Superstorm Sandy loss estimates today, with both estimates reaching to dollar figures in the hundreds of millions.

Its not retirement, says Joe Plumeri, the chief executive officer of Willis Group Holdings, but just another phase in his long career as he reflects on his 12 years in the insurance brokerage business.

Insurance brokers are not expected to make any great strides in their earnings in 2013 as competition and continued world economic challenges will leave little room for improvement, says Fitch Ratings.

The Hartfords chief executive says that its insured losses for Superstorm Sandy could surpass its reinsurance deductible of $350 million.

Rates in both commercial and personal lines insurance continued to increase through November, according to the electronic exchange MarketScout.

New Jersey Manufacturers Insurance Company says it will take a loss of more than $300 million from Superstorm Sandy, the largest loss in the companys history.