In two recently issued reports Standard & Poor’s Ratings Services revised its outlook on the global reinsurance industry to stable from negative, “indicating that there will be little near-term movement in ratings or outlooks.” S&P credit analyst Simon Marshall indicated: …
Despite last year’s disastrous hurricane season, Lloyd’s posted a relatively small 2005 loss of $180.6 million, not a great result compared to the $2.4 billion profit it made in 2004, but it could have been a lot worse. The financial …
Independent agents and brokers grew their share of the property/casualty market by $11.93 billion in 2004, accounting for almost 60 percent of the national increase, according to the Independent Insurance Agents and Brokers of America’s 2004 market share study. The …
Today, many private companies are planning activities that may increase their exposure to management liability risks, Lisa McGee, vice president, Chubb & Son, said at a recent Inc. 500 Conference. Sixty-seven percent of private companies are likely to broaden their …
U.S. tort costs reached a record $260 billion in 2004, or approximately $886 per person, according to the U.S. Tort Costs and Cross-Border Perspectives: 2005 Update from the Tillinghast business of Towers Perrin. This surpassed the previous record set in …
Households headed by young people (18-24 years old), those in urban or suburban areas, and those with incomes of $75,000 or more were the most likely to experience identity theft, according to a new government survey. Victimization did not differ …
Underinsurance not only leaves policyholders vulnerable, it impacts the profitability of most insurers. Recent high profile events, such as the 2004 and 2005 hurricanes and the 2003 Southern California wildfires, have brought to national attention the problem of underinsurance. Unfortunately, …
Citing bipartisan support to revamp the insurance industry regulatory system, two U.S. senators unveiled legislation that would allow life and property/casualty insurers to choose federal rather than state regulation under an “optional federal charter” system. U.S. Sens. John Sununu (R-N.H.) …
Lloyd’s insurers have broadened their horizons considerably over the last few years. The major London-based players–Amlin, Beazley, Catlin, Hiscox, Kiln and Wellington are commonly known as the “Group (or ‘Gang’) of Six.” The reasons behind their expansion initiatives are deceptively …
Knowing how to make a business better and more successful is something every business owner struggles with. Defining a successful company’s best practices can provide a framework on what to do to become successful and even more importantly, what not …
