Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Fitch Downgrades Allstate Corp. and its Subs; Outlook Remains Negative
Feb 3 2009 // In contrast to A.M. Best and Standard & Poor’s, Fitch Ratings has downgraded the senior debt rating of the Allstate Corporation to ‘BBB+’ from ‘A’, and the financial strength ratings of...
S&P Lowers Allstate’s Operating Co. Ratings to ‘AA-‘; Outlook Negative
Jan 30 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on Allstate Corp.’s core property-liability (Allstate Protection) and life insurance (Allstate...
Allstate Posts 9% Decline in Profit for 2008; Combined Ratio at 99.4%
Jan 29 2009 // Allstate reported consolidated revenues were $6.6 billion in the fourth quarter of 2008 and $29.4 billion for the 2008 year, a 9 percent drop from the previous year. The decrease in revenue of $2.4 billion and $7.4 billion...
Best Affirms Nationwide Group ‘A+’ Ratings, Changes Outlook to Negative
Jan 29 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Nationwide Group and its...
S&P Raises Fairfax Ratings to ‘BBB-‘ From ‘BB+’; Outlook Stable
Jan 29 2009 // Standard & Poor’s Ratings Services has raised its counterparty credit and senior unsecured debt ratings on Toronto-based Fairfax Financial Holdings Ltd. to ‘BBB-‘ from ‘BB+’. The outlook...
Survey: 10 Percent of Delaware Drivers are Uninsured
Jan 29 2009 // A new study shows about 10 percent of drivers in Delaware are uninsured, and that number could be headed higher. The survey by the Insurance Research Council suggests the reason is the economic downturn. It predicts the...
Commissioner Reassures: Mississippi’s No Florida in Its Insurance Markets
Jan 28 2009 // Commissioner of Insurance Mike Chaney moved to quickly to reassure state leaders and policyholders that no big insurance companies are leaving Mississippi. Chaney issued a statement after the announcement by State Farm...
S&P Affirms ING’s ‘AA’ Ratings; Outlook Remains Negative
Jan 28 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA-/A-1+’ long- and short-term counterparty credit ratings on ING Groep N.V. and ING Verzekeringen N.V., and its ‘AA/A-1+’ long- and...
Aon Insurer Survey Confirms Desire to Increase UK Commercial Premiums
Jan 28 2009 // According to the Aon’s newly launched “Market Pulse,” underwriters expect motor [auto] insurance premiums for UK companies to increase in the first quarter of 2009. Aon said its new quarterly index...
Maryland Lawyers Debate Future Wages in Bias Suit
Jan 27 2009 // A Salisbury, Maryland woman who was awarded $300,000 after she was fired by a pesticide company and lawyers for that company were in court over economic damages. Jean Scott was fired in 2005 for complaining about gender...
S&P Revises Aioi, Nissay Outlooks to Positive; Mitsui to Negative
Jan 27 2009 // Standard & Poor’s Ratings Services has revised to positive from stable its outlooks on the insurer financial strength ratings and long-term counterparty credit ratings on Japan’s Aioi Insurance Co. Ltd....
Great Northwest Insurance Outlook Revised to Negative by A.M. Best
Jan 27 2009 // A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating (FSR) of B+ (Good) and issuer credit rating (ICR) of “bbb-” of Great Northwest Insurance Co., which is...
State Farm Pulling Out of Florida Property Insurance Market
Jan 27 2009 // Florida is losing its largest property insurance company. State Farm Florida Insurance announced today it is beginning the process that will allow it to non-renew policies and halt all sales of homeowners or other...
Max Cap CEO Letter to Investors Recaps 2008, Gives 2009 Outlook
Jan 26 2009 // W. Marston (Marty) Becker, Chairman and CEO of the Bermuda-based Max Capital Group has issued a letter addressed to the Company’s shareholders, employees and other stakeholders updating them on Max Capital’s...
Even Best Practices Agencies Struggle To Grow in Soft Market
Jan 25 2009 // Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual “Best Practices Study,” a...
S&P Assigns ‘AA-‘ Ratings to RenRe Europe; Outlook Stable
Jan 22 2009 // Standard & Poor’s Ratings Services has assigned its ‘AA-‘ counterparty credit and financial strength ratings on Renaissance Reinsurance of Europe (RenRe Europe) with a stable outlook. “RenRe...
Insurers Propose Decrease for Nevada Workers’ Compensation Rates
Jan 22 2009 // Nevada Insurance Commissioner Scott Kipper announced that the industry’s National Council on Compensation Insurance Inc. (NCCI) has submitted a filing for an average decrease of 4.9 percent for Nevada workers’...
Survey: Small Businesses Plan for Contingency; Expect Cutbacks in 2009
Jan 22 2009 // Many small business owners say that they’re prepared to eliminate some positions or reduce the number of hours employees work as part of their contingency planning for 2009, according to a recent survey. Almost half...
Fire Deaths Increased in Ohio in 2008
Jan 21 2009 // The number of fire deaths across the state increased by 42 percent last year over 2007, according to the Ohio fire marshal’s office. Officials have no clear explanation for the increase to 183 fire deaths in 2008...
Liberty Mutual Increases Nevada Auto Insurance Rates
Jan 21 2009 // The Liberty Mutual Fire Insurance Co. received approval for a 6.9 percent rate increase, Liberty Insurance Corp. received approval for a 7 percent rate increase and First Liberty Insurance Corp. received approval for a 7.6...
