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NEW YORK – Property/casualty rates are under mounting upward pressure due to recent catastrophe losses and continued low interest rates that have limited investment returns, according to speakers at last week’s Property/Casualty Insurance Joint Industry Forum in New York.

In addition, a survey of industry executives who attended the event found that nearly three-quarters of respondents said the industry is in the early stages of a hard market.

After 2012 saw a concentration of international earthquake, flooding and other major catastrophe losses, insurance companies are “seriously rethinking” their exposures, and commercial rate particularly those involving catastrophe risks clearly are rising, said Jay Gelb, managing director of Barclays Capital. Mr. Full Post…

(Associated Press) -  America smashed the record for billion-dollar weather disasters this year with a deadly dozen — and counting.

With an almost biblical onslaught of twisters, floods, snow, drought, heat and wildfire, the U.S. in 2011 has seen more weather catastrophes that caused at least 1 billion in damage than it did in all of the 1980s, even after the dollar figures from back then are adjusted for inflation.

The National Oceanic and Atmospheric Administration added two disasters to the list Wednesday, bringing the total to 12. Th Full Post…

The U.S. insurance industry, already bruised by one of the most devastating weather years in history, appears to have suffered another blow from Saturday’s unprecedented northeastern snowstorm.

Early data from some of the country’s largest insurers suggests the hit was not as severe as it could have been — because it came on a weekend.

At least eight people died in the storm and, as of Monday morning, some 2.2 million customers were still without power. More than 300 roads were partially or completely closed in Connecticut alone and many train lines into New York City were under prolonged suspensions.

Depending on how the damage shakes out, the storm could be at least the 11th billion-dollar economic disaster in the United States this year, a record. Full Post…

The best way to reduce your car insurance policy is by claiming as many discounts as possible; to be able to claim the discounts, you need to meet certain requirements or supply the insurance company with the right set of documents. In this article, we are going to take a look at some of the the best car insurance discounts to claim. Let’s get started, shall we?

The most rewarding discount that can help you reduce your car insurance premium substantially is the multi-policy discount. To qualify for this particular discount, you need to purchase more than one insurance policy from the same company. W Full Post…

SEATTLE, Nov. 4, 2011 /PRNewswire/ — Milliman, Inc., a premier global consulting and actuarial firm, today released the results of its latest Pension Funding Index, which consists of 100 of the nation’s largest defined benefit pension plans. In October, these plans experienced a $44 billion investment gain and a $2 billion increase in pension liabilities. The $42 billion improvement in funded status comes in the wake of a $254 billion increase in the pension funding deficit in the third quarter of calendar year 2011, which was the second worst financial quarter on record.

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