Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Deloitte & Touche Survey on Money Laundering Finds “Operational Challenges for Financial Services Industry”
Nov 5 2003 // Deloitte & Touche, the International accounting firm, has released its findings concerning compliance with the “USA PATRIOT Act and other anti-money laundering requirements,” which concludes that financial...
Calif. Workplace Fatalities Decline by 8% in 2002
Nov 3 2003 // The number of workplace fatalities in California declined by 8 percent in 2002 according to the Department of Industrial Relation’s (DIR) Division of Labor Statistics and Research. The number of workers who died on...
SURPLUS LINE PREMIUM SEES 82 PERCENT INCREASE, SAYS SLA:
Nov 3 2003 // Ted Pierce, executive director of the Surplus Line Association of California (SLA), released the association’s nine-month total for processed surplus line premium showing an 82 percent increase over the 2002 premium...
Outlook Stable for LUBA Workers’ Comp
Nov 3 2003 // Best has assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp, based in Baton Rouge, La.. The rating...
AAMGA Reflects on Prosperous Year, Plans for the Future
Nov 3 2003 // The American Association of Managing General Agents (AAMGA) will hold its mid-year meeting at the Phoenician Resort & Spa in Scottsdale, Ariz., on Nov. 13-15. At the heart of this year’s meeting will be several...
Outlook Stable for LUBA Workers’ Comp
Nov 3 2003 // A.M. Best assigned an initial financial strength rating of “A-” (excellent) to Louisiana United Businesses Self Insurers Fund, also known as LUBA Workers’ Comp, based in Baton Rouge, La.. The outlook is...
Argonaut Reports 54% Increase in Q3 2003 Premiums
Oct 29 2003 // San Antonio-based Argonaut Group Inc. announced financial results for the three- and nine-month periods ended Sept. 30, 2003. According to the company, highlights for the third quarter of 2003 include: · The...
S&P Revises Ukraine Country Rating Outlook to Positive
Oct 29 2003 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Ukraine to positive from stable, and has affirmed the ‘B’ long-term and ‘B’ short-term ratings on the...
J.D. Power: Homeowners Customers Satisfied Despite Rising Premiums
Oct 27 2003 // — Most Customers Rely on Agent’s Expertise — Customer satisfaction with homeowners insurance remains stable despite a sharp hike in premiums, according to the J.D. Power and Associates 2003 Homeowners Insurance...
Midland Continues Double-Digit Premium Growth
Oct 24 2003 // Cincinnati-based specialty insurer The Midland Co. reported net income for the third quarter of $4.3 million, or 23 cents per share, including 4 cents in realized capital gains, compared with a net loss of $2.6 million, or...
Insurers Raise Concerns About Excessive Growth of the NAIC Surplus
Oct 24 2003 // Two major property/casualty trade associations have expressed serious concerns about a large surplus in the National Association of Insurance Commissioners’ (NAIC) proposed 2004 budget. For the three-year period...
S&P Affirms Markel Corp. Ratings; Revises Outlook to Stable
Oct 24 2003 // Standard & Poor’s Ratings Services announced that it has affirmed the BBB- counterparty credit rating BBB- senior unsecured debt rating and BB preferred stock rating on Markel Corp. (MKL), but has revised its...
Markel’s Q3 Results to be Impacted by Increase in Loss Reserves
Oct 23 2003 // Markel Corporation announced that its third quarter results will be impacted “by increases in loss reserves for asbestos and environmental exposures ($55 million) and increases in prior years’ loss reserves for...
A.M. Best Affirms Rating of Goshawk Reinsurance Ltd.; Assigns Negative Outlook
Oct 22 2003 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) of Goshawk Reinsurance Limited (Goshawk Re), Bermuda, and removed the rating from under review. This follows detailed discussions with the Goshawk...
Safeco Survey Finds Small-Business Owners Ill-Prepared When Disaster Strikes
Oct 22 2003 // A new nationwide survey by Safeco Corp. found most small-business owners are ill-prepared to recover costs if disaster strikes, such as company’s payroll, operating expenses and profits, and aren’t...
Moody’s Confirms XL’s Ratings, Changes Outlook to Negative
Oct 22 2003 // Moody’s Investors Service announced that it has confirmed the ratings of XL Capital “(A1 senior unsecured debt) and supported debt-issuing affiliates, as well as the Aa2 insurance financial strength ratings of...
A.M. Best Affirms American Re-Insurance Co.’s FSR of ‘A+’ with a Stable Outlook
Oct 21 2003 // A.M. Best Company has affirmed the A+ (Superior) rating of American Re-Insurance Company and its affiliates, American Alternative Insurance Corporation (AAIC) and Princeton Excess & Surplus Lines Insurance Company....
AIG Subs Affirmed, Outlook Neg
Oct 20 2003 // Moody’s Investors Service confirmed the “Aaa” insurance financial strength (IFS) ratings of the eight rated members of AIG’s U.S. commercial insurance group (Domestic Brokerage Group, or DBG)....
American Agents Alliance Conference Focuses on the Future
Oct 20 2003 // More than 1,400 agents and brokers ventured out to an oasis in Indian Wells, Calif., to take part in the American Agents Alliance 29th Annual Conference and Expo held on Oct. 8-12. The four-day event, held at the...
NAII Hears N.Y. Sen. Seward Cite Fraud as Cause for Auto Premium Increases
Oct 17 2003 // In an address at the National Association of Independent Insurers Fall Legislative Meeting, Sen. James L. Seward, chairman of the Senate Standing Committee on Insurance, stressed the need for serious fraud reform in New...
