Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Bank Holding Companies’ Insurance Agency Fee Income Rises to Record $8.4 Billion in 2003
Jul 13 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...
Garamendi Announces Downward Trend in California Workers’ Comp Rates
Jul 13 2004 // Insurance Commissioner John Garamendi announced that received workers’ compensation rate filings illustrate a downward trend, but still fall short of his pure premium rate advisory of -20.9 percent issued on May 28,...
USI Completes Purchase of Future Planning Associates
Jul 9 2004 // U.S.I. Holdings Corporation of Briarcliff Manor, N.Y. has acquired Matawan, N.J.-based Future Planning Associates, Inc. This acquisition is expected to contribute approximately $10 million of revenues to USI on an annual...
ACFE Says 2004 Fraud Statistics Report Shows Need for Sarbanes-Oxley Requirements
Jul 9 2004 // The Association of Certified Fraud Examiners (ACFE), the Austin, Texas-based provider of anti-fraud training and education worldwide, announced the release of the 2004 Report to the Nation on Occupational Fraud and Abuse,...
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...
