What’s New: In Brief (July 08, 2008)

York Fire & Casualty Insurance has appointed Lori Corrigan to the position of vice president and COO.
Corrigan brings to the post more than 20 years of insurance industry experience, from both a company and broker perspective, says a York Fire release. Her senior management experience spans marketing, claims and underwriting.
In her new position, she will be accountable for maintaining and shaping the operational and strategic direction of York Fire.
“Ms. Corrigan’s promotion recognizes the material contribution she has made to the leadership and direction of the company since joining the York Fire team in the fall of 2007,” said York Fire president and CEO Colin Simpson.

Average U.S. property and casualty premium rates declined 11% in June 2008, compared to a decline of 14% in June 2007, according to a survey by MarketScout.
This is the largest year-on-year moderation in the last three years, according to the online distributor of multi-line property and casualty insurance.
“The June 2008 composite rate of decline has moderated 21% as compared to June 2007,” said Richard Kerr, founder and CEO of MarketScout.
“If July continues in a similar pattern, we may be nearing the bottom of the soft market.”