Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Price, Increased Self-Insured Retentions and Coverage, Top Challenges Facing Public Risk Managers
May 22 2003 //
Attorneys, Legal System Responsible for Surging Medical Malpractice Rates, According to Weiss Survey of Consumers
May 21 2003 // Nearly seven in 10 consumers polled blame attorneys and the legal system for surging medical malpractice rates, according to a recent online survey conducted by Weiss Ratings Inc. While 68.6 percent of respondents found...
S&P Issues Report on European Insurance Sector
May 20 2003 // Standard & Poor’s Ratings Services has issued a report based on its analysis of 34 “debt-issuing insurers,” which concludes that “despite signs of greater stability in the European insurance...
NAII Says Quickest Cure for MA Auto Insurance Market is Increased Competition
May 19 2003 // Representatives of the National Association of Independent Insurers told the Massachusetts Division of Insurance at a recent hearing that one of the most effective ways to enhance the insurance market for consumers in the...
Platinum Raises 2003 Earnings Forecast; Will Take $9.5 Million Charge
May 15 2003 // Platinum Underwriters Holdings, Ltd. announced that, “based on the current industry environment, the mix of business underwritten and in the absence of any unusual catastrophe activity, it has updated its guidance...
S&P Lowers AMP Ratings, Assigns “Negative Outlook”
May 14 2003 // Standard & Poor’s Ratings Services announced that it has lowered the insurer financial strength and counterparty credit ratings on AMP Life Ltd. to ‘A+’ from ‘AA-‘, and has also lowered...
Alliance Responds to IIABA Survey on Homeowners Market
May 14 2003 // The Alliance of American Insurers (AAI) responded Tuesday to a recent report from the Independent Insurance Agents and Brokers of America (IIABA), addressing the homeowners market (see IJ Web site May 13) in the...
IIABA Survey Reports Nearly 2.5 Million Households Lost Homeowners Coverage Past Two Years
May 13 2003 // A new independent consumer survey conducted for the Independent Insurance Agents & Brokers of America (IIABA) confirms that non-renewals and premium increases are becoming more common in the current homeowners...
Berkshire Hathaway Profit Up Thanks to Hardened Market
May 13 2003 // Omaha, Neb.-based Berkshire Hathaway Inc. nearly doubled the profit of the first quarter of 2002, thanks to the hardened insurance market. Berkshire reported a net profit of $1.73 billion, or $1,127 a share, compared to...
IBC to Hold “Emerging Trends” Conference May 14
May 9 2003 // The Insurance Bureau of Canada announced that it will sponsor a one-day conference at the sixth annual Automotive Insurers and Manufacturers Forum (AIM) to be held Wednesday, May 14, 2003 at the Metro Toronto Convention...
Med-Mal Insurers Sound Off in Nolan Survey
May 8 2003 // A recently conducted survey reportedly sheds light on how medical malpractice insurers view their industry’s future and what steps they are taking to meet it. Senior-level executives from nearly half of all U.S....
CNA 1stQ Profit Up 315% From 2002
May 8 2003 // Chicago-based commercial lines leader CNA Financial Corp. reported first-quarter net income of $83 million, or 30 cents per share, up 315 percent from $20 million, or 9 cents per share, in the first quarter of 2002. Net...
NCOIL Credit-Based Scoring Model Reportedly Gaining Momentum
May 6 2003 // The National Conference of Insurance Legislators (NCOIL) credit-based scoring model is gaining momentum after the first four months of this year’s state legislative season, an official of the National Association of...
Markel Outlook Positive
May 5 2003 // S&P’s revised its outlook on Markel Corp., Markel International Insurance Co. Ltd., and Markel’s U.S. insurance subsidiaries to positive from stable because of the historically strong underwriting results...
STATE FARM RATE INCREASES IN LA.
May 5 2003 // State Farm recently won a 12.2 percent average rate increase for homeowners policies in Louisiana that goes into effect June 15. At that time around 263,000 Louisiana homeowners will face an average increase of $100....
STORMS RACK UP $1.2B IN CLAIMS
May 5 2003 // U.S. property/casualty insurers are expected to pay an estimated $1.2 billion for insured property-loss claims from winter storms and windstorms that pummeled 10 states in early April, according to preliminary estimates by...
D&O LIABILITY COSTS UP AGAIN
May 5 2003 // Directors & Officers (D&O) liability insurance cost nearly 30 percent more in 2002, according to Tillinghast Towers Perrin’s 2002 Directors & Officers Liability Survey. The increase followed similar...
Study Says D&O Liability Premiums Soar, Shareholder Claims Increase
May 5 2003 // On the heels of similar increases from the previous year, purchasers of Directors & Officers (D&O) liability insurance paid nearly 30 percent more for their D&O coverage, according to Tillinghast Towers...
Markel Outlook Positive
May 5 2003 // Standard & Poor’s Ratings Services revised its outlook on Markel Corp., Markel International Insurance Co. Ltd., and Markel’s U.S. insurance subsidiaries to positive from stable because of the historically...
The Challenging Future Requires Your Attention
May 5 2003 // While the hard market continues to support current rate levels, there is increasing turmoil within our industry. Is there any doubt that major changes are on the horizon? After all, who can predict the timing of the hard...
