Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Bank Holding Insurance Underwriting Income Up 2% to $25 Billion in 2003
Jul 29 2004 // Bank holding companies (BHCs) reported insurance or reinsurance income of $25.1 billion in 2003, according to Michael White’s Bank Holding Company Insurance & Investment Fee Income Report (BHC-FIR) published by...
Fitch: Reinsurance Sector Rating Outlook Revised from Negative to Stable
Jul 27 2004 // Fitch Ratings has revised its Rating Outlook for the global reinsurance sector to Stable from Negative. Prior to this change, Fitch had maintained a Negative Rating Outlook on the sector since 2001. Fitch’s revised...
A.M. Best Report: Canada’s P/C Industry Rebounded Strongly in 2003
Jul 27 2004 // As 2002 fades from memory as the worst performance year by the Canadian property/casualty insurance industry, 2003, on the other hand, will be remembered for the industry’s return to underwriting profitability and...
AIA: Senate Bill Boosts Momentum to Extend Terrorism Insurance Law
Jul 22 2004 // The introduction of legislation in the Senate on Thursday to extend the Terrorism Risk Insurance Act of 2002 (TRIA) by two years “adds to the momentum for congressional action in 2004, and demonstrates bipartisan...
WCIRB to Propose Increase in Pure Premium Rates in January 2005
Jul 22 2004 // The Workers’ Compensation Insurance Rating Bureau will propose a 3.5 percent average increase in the advisory pure premium rates for policies incepting on or after Jan. 1, 2005, based on an analysis of loss and loss...
Rightfield Solutions Joins with Pa. Insurer in Fight Against Rising Med-Mal Claims
Jul 22 2004 // An agreement announced recently by executives with Professional Casualty Association (PCA), a provider of insurance coverage to physicians in Pennsylvania, and Rightfield Solutions LLC, developers of Emmi, Expectation...
Survey: Market Index Shows Continued Softening for Commercial P/C Market
Jul 21 2004 // The commercial property/casualty insurance market showed signs of continued softening in the second quarter of 2004, with one-third of the small accounts and more than half the medium and large accounts experiencing...
Survey: Carrier Performance Falls Short of Expections
Jul 21 2004 // Ease of doing business with carriers is critical to the productivity—and profitability—of independent insurance agents, says an industry survey. In a recently completed second annual survey, agents reported that...
Mass. Workers’ Comp Medical Costs Rise But Still Remain Among Lowest in WCRI Study
Jul 21 2004 // The average medical payment per claim for the care of injured workers in Massachusetts rose 13 percent in the most recent period studied, according to a new report by the Cambridge-based Workers Compensation Research...
W.Va. Auto Rates Rising
Jul 20 2004 // West Virginians paid more for auto insurance in 2001 than people in all but 15 other states, according to statistics from the National Association of Insurance Commissioners, the Associated Press and the Charleston Gazette...
Chubb, National Grange, N.Y. Central Mutual and Sterling Top Performers in PIANY Annual Survey
Jul 19 2004 // Chubb Group, National Grange, New York Central Mutual and Sterling Insurance Co. ranked among the top performers out of 38 evaluated in the second annual company performance survey by the Professional Insurance Agents of...
N.Y. MED-MAL RATES UP 7%:
Jul 19 2004 // New York Superintendent of Insurance Gregory V. Serio announced that the majority of New York State’s 50,000 physicians will see a 7 percent rate increase in their medical malpractice insurance premiums for the...
SURVEY: PRICING SURPASSES TERRORISM AS TOP CONCERN:
Jul 19 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...
Fitch Revises Outlook on U.S. Commercial Lines Sector to Stable
Jul 19 2004 // Fitch Ratings has revised its rating outlook for the U.S. commercial lines insurance sector to stable from negative. Fitch had maintained a negative rating outlook on the sector since September 2000. The revised outlook...
WCRI: Fla. Workers’ Comp Medical Payments Per Claim Grow Due to Increasing Costs in Hospital Services
Jul 16 2004 // The average medical payment per workers’ compensation claim in Florida rose significantly in the most recent period studied, in large part due to the increasing costs of hospital services and treatments by physicians...
Kibble & Prentice Releases Findings of Annual Employer Survey
Jul 15 2004 // Seattle-based Kibble & Prentice recently announced the results of its annual employee benefits survey. With nearly 200 Washington state companies reporting, the results showed three clear trends: health care costs...
N.Y. Rejects 29% Workers’ Comp Rate Increase
Jul 15 2004 // New York Superintendent of Insurance Gregory V. Serio today rejected the filing submitted by the New York Compensation Insurance Rating Board (CIRB) that sought an overall increase of 29.3 percent in workers’...
RIMS: Soft Market Takes Hold as Commercial Premiums Decline 15%
Jul 15 2004 // In the continuing march toward a soft market, most commercial insurance buyers renewed their policies at the same or lower premiums last quarter, according to a survey of corporate risk managers. Data from the survey shows...
Weiss Report: P/C Insurers Earn $32.3 Billion in 2003, Industry Reports $48 Billion Investment Gain
Jul 14 2004 // Property/casualty insurers more than doubled their profits during 2003, earning $32.3 billion compared to the $13.5 billion reported in 2002, according to Weiss Ratings Inc., an independent provider of ratings and analyses...
WCRI: Pennsylvania Workers’ Comp Medical Costs Per Claim Grow at Double-Digit Rate
Jul 14 2004 // The average medical payment for workers’ compensation claims in Pennsylvania rose nearly 14 percent during the most recent period studied, according to a new study by the Workers Compensation Research Institute...
