National News
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P/C Industry Posts $1.3B Loss in Q1; Combined Ratio Up to 102.2
National News • June 29, 2009
The property/casualty insurance industry suffered a $1.3 billion net loss after taxes for first-quarter 2009, which constitutes a $9.8 billion adverse swing from the industry's $8.5 billion in net ...
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| Subject | Posted By | Posted On |
|---|---|---|
| Boohoohoo! | Befuddled | Jul 6, 2009, 4:22 pm |
| RE: CNA "A" and Negative implication/outlook | Dally Po | Jul 1, 2009, 5:39 am |
| CNA "first to go" ??? | Taco John | Jul 1, 2009, 12:10 am |
| RE: RE: RE: RE: Hard Market?? | bring it on | Jun 30, 2009, 1:21 pm |
| RE: RE: RE: Hard Market?? | underwriter | Jun 30, 2009, 8:13 am |
| RE: Hard Market?? | WI Agent | Jun 30, 2009, 5:25 am |
| Dumb things | WI Agent | Jun 30, 2009, 5:11 am |
| Hard Market?? | Broker | Jun 29, 2009, 5:50 pm |
| RE: RE: Hard Market?? | Production Manager | Jun 29, 2009, 1:44 pm |
| RE: Hard Market?? | Doctor J | Jun 29, 2009, 12:51 pm |
| Hard Market?? | AZInsMan | Jun 29, 2009, 12:40 pm |
| Back to article | ||
Subject: CNA "first to go" ???
As for others, people, pay attention to AM Best. You can criticize AM Best and S&P all you want for not acting hard enough or fast enough in their ratings. But understand this: 1) they don't take actions quickly, and 2) any action that they do take, is serious stuff!
I believe that AM Best has placed several carriers on "negative" watch, including West Bend and Selective? Also, S&P downgraded Liberty Mutual and all markets earlier this year, much to the dismay of LM. (those whores)
My point, is there any coincidence that these downgraded carriers are the same carriers that have been exhibiting gross underwriting negligence over the past few years? And if negligence isn't strong enough, then let's call it ignorance. (and yes going from STABLE to NEGATIVE is a downgrade)