Personal Lines

Catastrophe modeler AIR Worldwide puts estimated insured losses from the magnitude 7.2 earthquake in eastern Turkey at between $55 million and $170 million, lower than the $100 million to $200 million estimate released yesterday by Eqecat.

Australian consumer watchdog group Choice has named several insurance companies in its annual Shonky Awards, which recognize products and services that the group judges to be dodgy or of highly questionable value.

Homeowners insurers return on equity will be approximately 2 percent less than last year thanks to less-robust investment returns and higher estimates of non-coastal losses, a report from Aon Benfield says.

It came as no surprise to anyone that has followed the Floridas reinsurance fund that it could potentially have a $3.2 billion shortfall, according to new report issued by independent-financial advisor Raymond James.

While property and casualty insurers are excitedly discussing the prospect of 2012 rate increases and improving loss ratios, the net impact of such a development will likely be tempered by expectations of low investment yields, according to analyst firm Keefe, Bruyette & Woods.

The Allstate Corporation says it expects to take $1.08 billion in pre-tax third-quarter catastrophe losses.