Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
S&P Mid-Year 2005 Report on Outlook for U.S. Reinsurers – Sector Stable, “But Only Because Of Parental Support”
Jun 8 2005 // Standard & Poor’s Ratings Services has issued its assessment on the U.S. reinsurance sector, which concludes that it remains stable, even though there have been declines in pricing. S&P notes: “The...
Argonaut Group Ratings Raised; Outlook Stable
Jun 7 2005 // Standard & Poor’s Ratings Services announced it raised its counterparty credit rating on San Antonio-based Argonaut Group Inc. to “BBB-” from “BB+.” At the same time, S&P raised its...
WORKERS COMP RATES UP 3%:
Jun 6 2005 // Massachusetts Insurance Commissioner Julianne Bowler has approved a 3.0 percent overall average rate reduction in workers’ compensation rates, a savings of $32.6 million in premiums paid by employers. The new rates...
Killer Tsunamis and the Marine Insurance Market
Jun 6 2005 // Early in the morning on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a 50-kiloton...
Best Affirms Ratings of New Zealand’s Tower Insurance; Outlook Stable
Jun 2 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) of new Zealand’s Tower Insurance Limited and the issuer credit rating (ICR) of “bbb-” of Tower...
S&P Lowers Ratings of Austrian Insurer UV to ‘A-‘; Outlook Stable
Jun 2 2005 // Standard & Poor’s Ratings Services announced that it has lowered to “A-” from “A” its counterparty credit and insurer financial strength ratings on UNIQA Versicherungen AG (UV) as well as...
Some Insurers Decreasing Homeowners Rates in Texas
Jun 2 2005 // One in six Texas homeowners could see reduced insurance rates this year, the Associated Press and Houston Chronicle reported. Several small insurance companies have filed their rate changes for 2005 indicating rate...
S&P: Personal Lines Sector Outlook Stable Despite Market Softening
Jun 2 2005 // After experiencing its worst catastrophe losses ever (about $27 billion) in 2004, the U.S. personal lines insurance sector is showing signs of entering into a softer cycle than the hard one that has dominated the industry...
AIA Comments on Calif. Workers’ Comp Rate Decrease; Bill to Regulate Rates
Jun 2 2005 // A day after the California Senate gave the go-ahead for a bill to regulate workers’ compensation rates, Insurance Commissioner John Garamendi (D) has recommended that insurers base premiums on a decreased pure...
Garamendi Calls for 18% Decrease in Work Comp Pure Premium Rate
Jun 1 2005 // California Insurance Commissioner John Garamendi called for an 18 percent decrease in workers’ compensation pure premium rates and issued the following statement on June 1: “The historic workers’...
Calif. State Fund Files an Average 14% Rate Decrease
Jun 1 2005 // State Compensation Insurance Fund has filed an average collectible rate decrease of 14 percent on new and renewal workers’ compensation policies with an effective date on or after July 1, 2005. The filing includes a...
S&P Revises Outlook on Norway’s Bluewater to Positive
May 31 2005 // Standard & Poor’s Ratings Services announced that it has revised its outlook to positive from negative on Norwegian marine insurer Bluewater Insurance ASA, based on an improved view of the company’s...
JLT Forms U.S. Unit for Emerging Market Risks
May 30 2005 // The Houston office of international insurance broker Jardine Lloyd Thompson LLC announced that it has created a new division to meet the needs of U.S.-domiciled clients engaged in business in the world’s emerging...
Leaders Come Together to Discuss Future of Terrorism Insurance June 20
May 30 2005 // Leaders from the public and private sectors from throughout the nation will take part in the National Symposium on the Future of Terrorism Risk Insurance on the campus of the University of Southern California on June 20,...
Best Affirms HSBC Insurance/Asia Ratings; Outlook Listed as Stable
May 27 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Hong Kong-based HSBC Insurance (Asia) Limited with a stable outlook. “The rating reflects HSBC...
W. Va. Approves Erie Insurance’s 3.1 Percent Rate Decrease
May 27 2005 // A request by the Erie Insurance Group for a 3.1 percent decrease in its private passenger automobile insurance rates has been approved by the West Virginia Insurance Commission. The new rates go into effect August 1. The...
S&P Raises Euler Hermes Ratings to ‘AA-‘ w/ Negative Outlook
May 27 2005 // Standard & Poor’s Ratings Services announced that it has raised its long-term counterparty credit and insurer financial strength ratings on the Core operating subsidiaries of the French credit insurance group...
R&M Report on U.K. Employer’s Liability Market Sees Slower Growth
May 25 2005 // Dublin-based Research and Markets has announced the addition of UK Commercial Liability Insurance 2005 to their offering, which it describes as “a market based report looking in-depth at the three key liability...
W. Va. OKs Decreases in Westfield Insurance’s Auto, Homeowner Rates
May 25 2005 // A request by the Westfield Insurance Company for a 7.7 percent decrease in private passenger automobile rates, and a 6 percent decrease in homeowners rates, has been approved by the West Virginia Insurance Commission. The...
S&P Affirms Zurich’s ‘A+’ Rating; Off CreditWatch; Outlook Negative
May 24 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its ratings on the various operating entities of Swiss-based composite insurance group Zurich Financial Services (collectively ZFS), including...
