Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
S&P Raises Real Legacy Assurance Co. Ratings to ‘BBB+’; Outlook Stable
Apr 8 2005 // Standard & Poor’s Ratings Services has raised its counterparty credit and financial strength ratings on Real Legacy Assurance Co. Inc. (RLA), formerly known as Royal & Sun Alliance Insurance (Puerto Rico)...
Insurers Warn in Study: Unprofitable Del. Auto Insurance Market Could Face Reduced Competition
Apr 6 2005 // Even after investment income is considered, underwriting private passenger automobile insurance in Delaware has been unprofitable for the past five years, according to a study done by the Property Casualty Insurers...
IVANS Survey: Independent Agents Concerned About Internet Security; 80% Fear Viruses, Worms
Apr 6 2005 // IVANS Inc., a provider of networking and e-commerce solutions for the insurance and healthcare industries, announced the results of an independent insurance agent survey covering technology issues such as security and...
Changes in SB 1488 Would Cap Citizens Rate Increases, ‘Standardize’ Territories
Apr 6 2005 // Florida’s Senate Banking and Insurance Committee has put finishing touches on Senate Bill 1488 that would bring numerous changes to the industry, including, a cap on any rate increase next year by Citizens Property...
After Years of Hikes, ProMutual Vows No Increase in Med-Mal Rates in Massachusetts for 2005
Apr 5 2005 // The largest writer of medical malpractice insurance in Massachusetts said it will not have to raise rates this year, after several years of double-digit hikes. ProMutual Group credited “improved financial...
AIA Says No to Maine Premium Tax Increase
Apr 5 2005 // The proposal to increase the Maine property/casualty premium tax by 25 percent would make the state less competitive and increase insurance costs for consumers, the American Insurance Association (AIA) said Tuesday in...
Odyssey Re Increase Storm Loss Estimates
Apr 4 2005 // Odyssey Re Holdings Corp. announced that it expects after-tax net losses in the range of $26 million to $29 million during the first quarter of 2005. The increase is attributable to losses from Windstorm Erwin and an...
COMP CLAIM RATE DOWN, COST UP:
Apr 4 2005 // The number of paid workers’ compensation claims fell 22 percent relative to the number of employees from 2000 to 2003, according to a newly released report from the Minnesota Department of Labor and Industry....
BEST GIVES SERVICE A ‘STABLE’ OUTLOOK
Apr 4 2005 // Service Insur-ance Company of Bradenton, Fla., has been removed from A.M. Best’s rate review process and assigned an excellent rating with an outlook of “stable.” Service, in business since 1978, has...
Got Mold? Survey Assesses Consumer Concerns About Mold in the Home
Apr 4 2005 // First there was radon, then carbon monoxide and volatile organic compounds. Now the latest home invader is mold and, in a national survey released by CertainTeed Corporation and conducted for them by Opinion Research...
S&P Report Describes Increased Access to Capital Markets for Small, Mid-Sized Insurers
Apr 1 2005 // A study from Standard & Poor’s Ratings Services examines recent changes in the U.S. capital markets, and concludes that they have “have sparked interest in the credit ratings on small and mid-size...
Del. Cracks Down on Auto Insurance Fraud
Apr 1 2005 // Delaware Insurance Commissioner Matt Denn has initiated a crackdown by his department on auto insurance fraud. Denn announced several policy changes in the way auto insurance fraud cases are handled, including makeing them...
Guy Carpenter, MMC Securities Cat Bond Market Update Sees Increased Growth
Apr 1 2005 // Guy Carpenter & Company, Inc., the global risk and reinsurance specialist and a part of the Marsh & McLennan Companies, and its affiliate MMC Securities Corp. announced the release of their joint study of the...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
WCIRB Proposes 10.4 Percent Decrease in Pure Premium Rates
Mar 28 2005 // On March 25, 2005, the WCIRB submitted a filing to the California Insurance Commissioner recommending a 10.4 percent decrease in advisory pure premium rates effective July 1, 2005 on new and renewal policies. The proposed...
Mich. Catastrophic Claims Assessment Up 11%
Mar 25 2005 // The Michigan Claims Catastrophic Association increased its annual assessment to insurers by 11 percent to $141.70 per insured vehicle from $127.24, drawing sharp criticism from the state’s insurance regulator. In a...
S&P Takes MMC off CreditWatch; Affirms ‘BBB’ Rating, Negative Outlook
Mar 25 2005 // Standard & Poor’s Rating Services announced that it has affirmed its “BBB” counterparty credit and senior unsecured debt ratings and ‘A-2’ commercial paper ratings on Marsh &...
Survey: Consumer Driven Health Plans Making Headway in U.S. Companies
Mar 24 2005 // According to a recent survey of 208 benefits managers, 22 percent of companies responding now offer a consumer driven health plan option (CDHP) to employees. Seventy-four percent of the companies offering CDHPs started...
Minn.’s Comp Claim Rate Down, Cost Up
Mar 24 2005 // The number of paid workers’ compensation claims fell 22 percent relative to the number of employees from 2000 to 2003, according to a newly released report from the Minnesota Department of Labor and Industry....
Killer Tsunamis and the Marine Insurance Market
Mar 21 2005 // Early in the morning hours 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...
