Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
COMMISSIONER SAYS CALIF. WORK COMP RATES ARE GOING DOWN:
Aug 9 2004 // California Insurance Commissioner John Garamendi announced that workers’ compensation rate filings illustrate a downward trend, but still fall short of his pure premium rate advisory of minus 20.9 percent issued on...
WCRI: Pennsylvania Comp Medical Costs Per Claim Continue Growth
Aug 9 2004 // The average medical payment for workers’ compensation claims in Pennsylvania rose nearly 14 percent during the most recent period studied, according to the Workers Compensation Research Institute (WCRI). The study...
Bank Holding Companies’ Agency Fee Income Rises to $8.4 Billion in 2003
Aug 9 2004 // Bank holding companies (BHCs) earned a record $8.36 billion in insurance agency commissions and fee income in 2003, according to Michael White’s Bank Holding Company Insurance & Investment Fee Income Report...
A Decade of Improving Club Safety and Coverage
Aug 9 2004 // If you have ever insured or considered insuring golf and country clubs, you know that their risks can’t be classified or managed easily. They have kitchens and restaurants, clubhouses used for daily activities and...
Survey: No Relief from Litigation for Big Firms
Aug 4 2004 // Litigation involving U.S. business has receded slightly overall, but large corporations have experienced a surge and see no relief from lawsuits in sight. In a new survey of national litigation trends by law firm Fulbright...
Tower Group: North American Insurers See Growth in Emerging Markets for Asia, Europe and Latin America
Aug 3 2004 // North American insurers currently are pursuing global expansion at a pace rivaling that of European insurers’ entry into U.S. markets in the early 1990s. According to TowerGroup, more favorable economics, key...
Quality Customer Service Vital for Satisfaction, Progressive’s Survey Says
Aug 3 2004 // Proactive and personalized service are an important part of what consumers say they want from their independent insurance agent or broker. And while most independent agents say it’s important to provide this level of...
Growing U.K. Compensation Culture Poses Major Threat to Profitability, Jobs, Survey Reveals
Aug 1 2004 // U.K. businesses are being increasingly hampered by the costs of dealing with the burgeoning compensation culture, which in turn is diverting management resources and financial investment away from core business and revenue...
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...
