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Nathaniel Wienecke is senior vice president for federal government relations for the Property Casualty Insurers Association of America, which represents over 1,000 property casualty insurers nationwide.
That led to a fourth-quarter operating loss of $945 million in its property casualty unit.
In the case, Travelers Property Casualty Corp. paid $500 million to settle 37,000 claims.
We are an employee-benefit consulting and property casualty brokerage firm.
In exchange for government backing, property casualty insurers were required to offer terrorism coverage.
But the company reported a 7percentt increase in worldwide property casualty premiums, to $1.8 billion.
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"You would assume that brokers would benefit from the increase in property- casualty prices.
Another winner was the Progressive Corporation, the property-casualty insurer.
Despite the run-up, the property-casualty stocks may have room to move higher.
Net property-casualty premiums in the quarter rose 10percentto to $1.6 billion.
At the Hartford Group, earnings from life insurance offset heavy property-casualty claims.
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