Personal Lines

Losses from Hurricane Isaac will not be as severe as they were from Hurricane Gustav for Louisiana residents, says the states insurance commissioner.

Floridas insurance department says it has approved a plan by the states Citizens Property Insurance Corp. to remove 150,000 homeowners policies to four private-sector companies.

There is near universal agreement that carriers are achieving rate increases for property and casualty business, but analysts and company and brokerage executives struggle to say what can be expected over the long term as the industry appears to be in new territory from a pricing cycle standpoint.

Average rate increases for commercial and personal insurance lines continued their upward push through August rising an additional point over the prior month, says MarketScout.

As I watched coverage of the flooding caused by Hurricane Isaac in New Orleans this past week, I could not help but recall the Category 5 storm which struck Florida 20 years ago that forever changed not only the lives of citizens impacted by the storm, but also the entire...

AIR says the estimate of between $700 million and $2 billion includes insured losses from damage residential, auto, commercial and industrial properties and contents as well as additional living expenses and business interruption-related losses.