Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
AXA 1ST Half Group Net Income Up 31% to $2.8 Billion; No Significant Effect from Katrina
Sep 7 2005 // France’s AXA Group said in a “pre-release” statement that its net profits for the group rose by 31 percent for the period ended June 1, 2005 to 2.274 billion euros ($2.844 billion), compared to 1.733...
Amlin 1st Half Profits Up 56% to $247 Million; $110 Million Katrina Loss Estimate
Sep 6 2005 // Amlin, Plc, a leading Lloyd’s insurer, announced record results for the period ending June 30, 2005 with net profits up 56 percent to 134.1 million pounds ($247 million), more than it made for all of last year. The...
Report Says U.S. Insurance Industry Loses More than $16B in 2004 on Auto Premium Rating Error
Sep 6 2005 // Quality Planning Corporation (QPC), the Rating Integrity Solutions Company, has released its annual Premium Rating Error report. The report concludes that premium rating errors continue to lower the overall profits of auto...
Surety Survey Shows Dramatic Changes in Marketplace Over Past 10 Years
Sep 5 2005 // Grant Thornton LLP recently released the results of its Surety Credit Survey examining bond producers’ perspectives of the surety marketplace for the construction industry. The data appears to indicate a dramatic...
Surety Survey Shows Dramatic Changes in Marketplace Over Past 10 Years
Sep 5 2005 // Grant Thornton LLP recently released the results of its Surety Credit Survey examining bond producers’ perspectives of the surety marketplace for the construction industry. The data appears to indicate a dramatic...
SCOR 1st Half Net Increases by 18% to $90 Million
Sep 2 2005 // France’s SCOR Group made more out of less for the first six months of 2005. Although the Paris-based reinsurer’s gross written premiums declined by 12 percent to 1.184 billion euros ($1.485 billion), net income...
Hannover Re Estimates Katrina Losses at $314 Million; Lowers 2005 Forecast
Sep 2 2005 // Germany’s Hannover Re has issued a statement indicating that it will be “heavily impacted by Hurricane ‘Katrina.'” It estimates net losses before tax at around $250 million euros ($314 million), but...
Survey: Auto Insurance Buyers Continue to Use Internet More Often
Sep 2 2005 // The number of visitors who turn to the Internet to seek service or obtain an auto insurance quote has increased considerably, according to a new study released by J.D. Power and Associates. “Consumers compelled to...
Vesta Insurance Forecasts $500k to $1.2M Katrina Losses
Sep 1 2005 // Preliminary gross income losses of from $500,000 to $1.2 million have been predicted by the Vesta Insurance Group of Birmingham, Ala. for damages caused by Hurricane Katrina. Vesta’s Florida Select unit has about...
Policyholders Line Up to File Claims at Miss. Agency; Fla. Associations Offer Aid, Assistance to Kartina’s Victims
Aug 31 2005 // Insurance adjusters are scrambling around South Florida, where before crossing into the Gulf of Mexico and becoming a catastrophic hurricane, Katrina slapped Dade and Broward counties with damages experts estimate from...
Emerging Insurance Brokerage Launches New Brokers Website
Aug 30 2005 // Freemont, Calif.-based Emerging Insurance Brokerage is launching a new Website (http://www.EIBwebsite.com) to provide brokers with access to life/health and property/casualty insurance so that they can better serve their...
Wis. Health Premiums Up 7 Percent
Aug 30 2005 // Average premiums for health care plans rose 7.2 percent in southeastern Wisconsin compared with a 9.6 percent increase nationally, according to a survey released by United Benefit Advisors, an employee benefits advisory...
Katrina Could Cost Insurers Up to $30 Billion, Forecasters Say
Aug 29 2005 // Oakland, Calif.-based EQECAT, Inc., Oakland, Calif., announced Sunday afternoon that based upon current information provided by the National Oceanic and Atmospheric Administration (NOAA) about Hurricane Katrina,...
Occupational Fatalities Decreased in Texas in 2004
Aug 26 2005 // The Texas Workers’ Compensation Commission reported that in 2004, Texas recorded the second lowest number of occupational fatalities since data collection began in 1990. A total of 440 fatal occupational injuries...
NICB ‘Hot Spots Report’ Shows Car Theft Decreased in Most of Southeast
Aug 25 2005 // Across the Southeast’s major metropolitan areas auto theft deceased dramatically in 2004, accompanied by a slight drop in auto theft nationally, according to the National Insurance Crime Bureau’s annual Hot...
NICB: Rise in S.C. Auto Thefts
Aug 24 2005 // There were more than 22,000 vehicles stolen in South Carolina in 2004 according to the National Insurance Crime Bureau, which reports that theft rates rose for the sixth year in a row. NICB reports the Florence, S.C....
Miami PD Eliminates Its Auto Theft Unit; Area Agents Predict Higher Policy Rates, Increased Thefts
Aug 23 2005 // Insurance agents in Miami and Dade County were dismayed to discover this morning that, “due to manpower shortages” the Miami Police Department has disbanded its Auto Theft Unit. A PD spokesman told the Miami...
Barometer Shows Premiums on the Decline for Contractors Market
Aug 22 2005 // MarketScout began tracking property and casualty pricing trends in 2001 in an effort to share the pricing results of insurance placements related to their 50,000 member agent network. The monthly market trends are...
Insurance Industry’s Share of Weather-Related Losses Rising, Researcher Says
Aug 22 2005 // Also, Majority of Weather Losses Tied to Smaller Events, Not Larger Catastrophes The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of...
COMMISSIONER ANNOUNCES -26.78 PERCENT RATE DECREASE IN WORKERS’ COMP:
Aug 22 2005 // California Insurance Commissioner John Garamendi announced that workers’ compensation insurers in the state filed rate reductions averaging -14.6 percent for policies incepting on or after July 1, 2005 bringing the...
