Personal Lines

A winter storm blanketing the Northeast captured the headlines this past weekend, but major storm activity that spread through the Midwest and South has also left insurers with plenty of damage to assess.

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.

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.

More frequent and severe weather-related events are creating a volatile business environment for the property and insurance industry.

The Northeast from Maine to Virginia, as far west as the Great Lakes, is prepping for a winter mix of snow, ice and rain with high winds, blizzard concerns and dangerous traveling conditions.

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.