Personal Lines

To experience firsthand how the insurance industry is responding to the tornado that took out a large swath of Joplin, Mo. on May 22the EF5s path through the city was nearly a mile wide and about 7 miles longwe embedded on June 7...

PC360 went to Joplin, Mo. last week and spent the day following agents and catastrophe claims reps from State Farm Insurance. This is what we saw.

PC360 went to Joplin, Mo. last week and spent the day following agents and catastrophe claims reps from State Farm Insurance. This is what we saw.

While Florida insurers have long used catastrophe models to assess portfolio-level catastrophe risk, leading carriers assess catastrophe risk before the policy is underwritten. Incorporating catastrophe modeling into the underwriting process is easier than most assume.

In the months leading up to Floridas 2011 session, residential property insurance and motor vehicle insurance appeared poised to become significant legislative issues. Indeed, they garnered significant discussion. Their fates, however, were widely divergent.

Floridas 2011 legislative session was the most active in the past 30 yearsespecially in the property insurance arena. Bills dealing with sinkhole reform, replacement cost reform, and Citizens Property Insurance Corp. were at the top of the to-do list for lawmakers.

Florida property bill SB 408 strike-all amendment is adopted; bill rolls to a third reading in the House.

Hanover Insurance Group Inc. said Monday its first-quarter profit fell 30 percent on smaller investment gains.