Articles by Joseph L. Petrelli

Government Reaps Benefit of P/C Insurers’ Excess Profits

Editor’s Note: This article originally appeared in Insurance Journal’s Satire Issue, August 15, 2011. The content in this issue is not real and is not to be taken seriously. It’s supposed to be humorous. Seriously. The property/casualty insurance industry reported …

Direct Premiums Written Drop for Top 50 Workers’ Comp Insurers

As of March 2011, the unemployment rate in the United States was reported to be 8.8 percent, a marked improvement from the 10.1 percent rate reported in October 2009. The gross domestic product (GDP) has increased for six straight quarters, …

Top 25 Carriers’ Q3 Premiums Rise Nearly 11.5% in 2010 Versus Q3 2009

Alexander Hamilton once said, “I never expect to see a perfect work from an imperfect man.” Despite an imperfect marketplace, the Top 25 property/casualty companies continued to improve. Their continued improvement is evident based on the dollar amount of direct …

North Carolina Escapes Storms; Will It Escape Florida’s Insurance Woes?

Earlier in 2010, Colorado State’s Tropical Meteorology Project forecasted eight hurricanes to emerge from 15 named tropical storms in the Atlantic basin. Of those, four were forecasted to become major hurricanes. On August 29, Tropical Storm Earl was upgraded to …

Top 25 Carriers’ Second Quarter Results Show Improvement in 2010 Versus Second Quarter 2009

Benjamin Franklin once said, “Without continual growth and progress, such words as improvement, achievement and success have no meaning.” In a market that continues to be described as soft, the Top 25 Property/Casualty companies give meaning to the word achievement. …

Top 25 Workers’ Compensation Insurers Show 34% Increase in Premium Growth

Results Based on Premium Growth June 30, 2010, Versus June 30, 2009 Approximately one year ago, I discussed the premium growth reported by insurers with the top 25 gains in workers’ compensation insurance premium volume. As I wrote that article, …

Top 25 Carriers’ First Quarter Results Show Soft Market May Have Finally Hit Bottom

The American psychologist and philosopher William James once said, “Pessimism leads to weakness, optimism to power.” This may be the adage of the Top 25 Property/Casualty companies based upon the dollar amount of direct written premium growth from 2009 to …

Plug the Agents’ E&O Gap: Protection from Carrier Insolvency

Any producer, agent or broker can be exposed to the insolvency of one of their markets. Carriers providing insurance agents’ errors and omissions insurance (E&O) have developed a variety of responses to the exposure created by insolvency. A review of …

Top 25 Workers’ Comp Insurers Show 36% Increase in Average Direct Premium Written

Results Based on Insurers’ Growth June 30, 2009, versus June 30, 2008 As I write this article, the unemployment rate in the United States was reported to be 9.4 percent as of the end of July. Gross Domestic Product (GDP) …

Premium Growth: Top 25 Premium Gainers Q1 2009 Versus Q1 2008

Roy H. Williams is an author and marketing consultant. He is known for his Wizard of Ads trilogy. He founded the Wizard Academy Institute. Although he is credited with saying “Consequently, a young business often grows by large percentages. Mature …