Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Louisiana Agent Shut Down on Multiple Fraud Allegations
May 1 2003 // Louisiana Insurance Commissioner Robert Wooley confirmed that the business of a Gonzales, La. insurance agent was halted in the latest investigation of alleged insurance fraud across the state. Department of Insurance...
State Auto Financial Profit Up 60% Over First Quarter 2002
Apr 30 2003 // Columbus, Ohio-based State Auto Financial Corp. announced record net earnings of $21.1 million for the first quarter of 2003. GAAP net earnings were 53 cents per diluted share, versus 33 cents for the same period last...
Tillinghast Study Says D&O Liability Premiums Skyrocket as Shareholder Claims Increase
Apr 28 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...
Senate Bills Reportedly Increasing Choice, Lowering Premiums in La. Passes Committee
Apr 25 2003 // A Senate panel this week approved two major bills that would reportedly change the way insurance rates are regulated in Louisiana, bringing more companies and competition into the state. The measures, Senate Bill 721 and...
Erie Indemnity Q1 Net Up Slightly, Despite Operating Losses
Apr 25 2003 // Pennsylvania-based Erie Indemnity Company’s announcement of its first quarter results for 2003 contained both good and bad news. While net income increased by 3.8 percent or $1.7 million to $45.9 million, up from...
