Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
AIA: Momentum Reportedly Growing to Extend Terrorism Insurance Law
Jul 8 2004 // New legislation authored by several House Democrats to extend the Terrorism Risk Insurance Act of 2002 (TRIA) demonstrates strong, bipartisan congressional support for keeping TRIA’s temporary, yet vital, economic...
Workers’ Comp Benefits Increase 2.3 Percent with Cost of Living
Jul 7 2004 // Workers currently receiving Washington workers’ compensation time-loss or pension benefits received a 2.3 percent cost-of-living increase effective July 1. The new maximum monthly benefit is $3,879.40 or 120 percent...
WCIRB Releases Report on Calendar Year 2003 Losses and Expenses
Jul 6 2004 // The WCIRB has released its annual report on 2003 losses and expenses for the California workers’ compensation insurance industry, pursuant to Section 11759.1 of the Insurance Code. The report can be viewed by...
Coregis Downgraded; Outlook Stable
Jul 5 2004 // A.M. Best Co. downgraded the financial strength rating to “B+” (very good) from “A-” (excellent) of Coregis Insurance Company of South Bend, Ind. The outlook is being revised to stable from...
Prototype Marketing Helps to Assure Your Agency’s Future
Jul 5 2004 // It always seems like the other guys are growing quickly. How about you? As each day passes, agency consolidators add new offices, banks gain experience in selling and prospecting, and a new generation of propeller-heads...
Survey: Pricing Surpasses Terrorism as Top Concern
Jul 2 2004 // An industry survey reveals that pricing is the top of concern facing major reinsurers and carriers in 2004, dramatically surpassing last year’s survey results where the top concern was terrorism. According to the...
N.Y. Med-Mal Rates to Increase 7%
Jul 1 2004 // New York State Insurance Department Superintendent of Insurance Gregory V. Serio today announced that the majority of New York State’s 50,000 actively practicing physicians will see a seven percent rate increase in...
PCI: Reform Needed to Prevent Future Workers’ Comp Problems in Kentucky
Jun 30 2004 // The Property Casualty Insurers Association of America (PCI) is calling on Kentucky lawmakers to make changes to the workers’ compensation program in the Commonwealth in order to prevent future financial collapses...
S&P Affirms AMP Subsidiary Ratings, Ups Outlook
Jun 29 2004 // Standard & Poor’s Ratings Services announced that it has revised the ratings outlook on Australia’s AMP Life Ltd., AMP Group Holdings Ltd., and AMP Bank Ltd. to positive from stable, and affirmed the...
Experts Warn of Emerging Trend in ERISA Class-Action Lawsuits at PLUS Symposium
Jun 28 2004 // Stock market declines and the financial collapse of companies such as Enron, Global Crossing and WorldCom have generated numerous shareholder class-action lawsuits against directors and officers alleging violations of...
Workers’ Comp Rates Decline; Rate Regulation Still an Issue for Lawmakers
Jun 28 2004 // Despite reductions in workers’ comp insurance premiums, California lawmakers will continue to debate the merits of rate regulation. After years of double-digit rate increases, many companies have filed with the...
N.J. Commissioner: Auto Insurance Market Recovering; Drivers Reap Benefits
Jun 28 2004 // New Jersey Banking and Insurance Commissioner Holly Bakke predicted recently that positive financial results for a majority of companies in the auto insurance marketplace will continue to produce returns for New Jersey...
S&P: Reinsurance Backing Increasingly Flimsy, Conference Panelists Say
Jun 21 2004 // Insurance companies are going to find reinsurers less and less reliable as pricing weakens in the U.S. property/casualty market, panelists at Standard & Poor’s Ratings Services Insurance Conference warned last...
Aon Study Finds 2003 P/C Earnings Volatility Lower
Jun 21 2004 // Aon Corporation announced that the results of its 2003 P/C Earnings Volatility Study showed that insurers and reinsurers were more effective at minimizing earnings volatility in 2003. “The study measures earnings...
COMPLAINTS TO WIS. DOI DOWN 17 PERCENT:
Jun 21 2004 // According to the 2003 Insurance Complaints and Administrative Actions report, nearly 8,000 consumers contacted Wisconsin’s Office of the Commissioner of Insurance (OCI) last year to file a complaint, down 17 percent...
Survey: Lack of Terror Coverage Would Hurt Commercial Mortgage Market
Jun 21 2004 // A new survey indicates that only 20 percent of commercial real estate portfolios would retain terrorism coverage if the requirement that insurers make it available is lifted, down from 83.5 percent. The survey by mortgage...
CALIF. SCIF: 7 PERCENT RATE DECREASE EFFECTIVE JULY 1:
Jun 21 2004 // State Compensation Insurance Fund announced a seven percent rate decrease on new and renewal policies with an effective date on or after July 1, 2004. The decrease is a result of the cost saving reforms adopted by the...
One in Four Private Companies Sued by Employees, Chubb Survey Finds
Jun 21 2004 // One in four privately held companies has been sued by an employee or former employee in the past few years, according to a survey sponsored by the Chubb Group of Insurance Companies. Executives at as many as half the firms...
Best Affirms Liberty Mutual’s Ratings; Ups Outlook
Jun 18 2004 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A” (Excellent) of Liberty Mutual Insurance Companies, Liberty Insurance Holdings of Keene, N.H. and Liberty Northwest Group of...
Fla. Doctors Fed Up with Med-Mal Costs
Jun 18 2004 // Dr. Rene Loyola says he has given up just about everything to keep practicing medicine. The surgeon owns no home or land, and has no savings other than a retirement plan after 29 years in the profession. He says he...
