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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Pension, Pension Funded
Cary Mann knows a major earthquake in Southern California could be catastrophic. But Mann doesn’t carry earthquake insurance on either his Cathedral City home about 115 miles east of Los Angeles or on the hair salon he co-owns there.
“None of my family has ever had it,” he said. “They’ve always said that if there was ever going to be a ‘Big One,’ the damage would be so massive that the insurance would never be able to pay out to everyone.”
Many in the state feel the same way. Full Post…
Earthquake Insurance, Insurance
NEW YORK, Sept. 27, 2011 /PRNewswire/ — Assurant, Inc. (NYSE: AIZ), a premier provider of specialty insurance and insurance-related products and services, announces the promotion of Richard J. Lauria to the position of senior vice president, chief corporate actuary.
“Rich brings a wealth of experience and knowledge to this position. His expertise in risk management and years of experience with the company make him an excellent choice for this role,” said Assurant Executive Vice President and Treasurer Christopher J. Pagano.
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Richard, Richard J
Fewerr accidents occur during the spring months-March, April and May-than any other time of the year according to auto insurance quote comparison service Kanetix. Of all ther accidents disclosed while getting auto insurance quotes at Kanetix in 2010, almost 22 per cent occurred in the spring. Compared to winter, and even summer, accidents appear to be less likely to happen as the warm weather approaches. Of all the accidents:
No one wants to be involved in ar accident, no matter what the season. But do you know what to do if you are in an accident? The following are a few tips to help you be prepared, just inse: As the warm weather approaches, roll down the windows, enjoy the warm breeze and continue to driverefully.
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Accidents Occur, Spring
NEW YORK – Catastrophe losses drove net income for U.S. publicly traded property/casualty insurance companies down to 1.38 billion during the second quarter of 2011, according to survey released by Moody’s Investors Service Inc. on Thursday.
That was a drop of 68% from net income generated in the same quarter of 2010, according to New York-based Moody’s. Moody’s said the industry sustained pretax catastrophe losses of about 5.5 billion in the second quarter, compared with about 2 billion during the same period in 2010. May t Full Post…
Catastrophe Losses, Income, Net Income
