Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Cruise Lines and Theme Parks to See Premiums Increase
Mar 21 2002 // Theme parks, cruise lines, and other tourism-driven business are watching their insurance rates rise due to the fallout of the Sept. 11 attacks, according to the Bloomberg News. Carnival Cruise Lines, a Miami-based...
S&P Affirms Allianz Group Ratings, Revises Outlook to Negative
Mar 21 2002 // Standard & Poor’s affirmed all its ratings on Germany’s Allianz group, including its double-‘A’-plus long-term counterparty credit and insurer financial strength ratings, and its...
WCIRB Committee Approves Filing of 10.1 Percent Increase for Advisory Pure Premium Rates
Mar 21 2002 // The Workers’ Compensation Insurance Rating Bureau of California’s (WCIRB) Governing Committee gave the go-ahead March 20 for a filing of a 10.1 increase in advisory pure premium rates to be effective on...
Gerling Sale Plan Leads SP to Revise Outlook
Mar 20 2002 // As plans for the sale of a majority interest in Germany’s Gerling Group become clearer, Standard & Poor’s, while reaffirming the single-‘A’-plus long-term counterparty credit and insurer...
HSBC to Increase Presence in Chinese Market
Mar 20 2002 // The Hong Kong and Shanghai Bank Corp. (HSBC), which despite its name is actually based in London, announced plans to to tap the growing insurance market in mainland China by opening branches of HSBC Insurance in Beijing,...
Catastrophe Losses Set at $34.4 Billion Last Year Says Swiss Re Study
Mar 14 2002 // A sigma study by Swiss Re estimates that more than 33,000 people lost their lives as a result of natural catastrophes and man-made disasters in 2001, and puts the cost to the insurance industry at $34.4 billion. Over half...
PartnerRe Posts 37% Increase in January Renewal Premiums to $1.37 Billion
Mar 12 2002 // Bermuda’s PartnerRe Ltd. announced that “the Company bound contracts expected to generate $1.37 billion in premiums during its key January 2002 renewal season — an increase of 37%.” The Company the...
ASP-hosted Technology-Trend or Fad’
Mar 11 2002 // Many vendors now offer agency management systems via ASP (Application Service Provider). The ASP model moves the agency database and management system software from the agency to a data center, and agency personnel access...
ASP-hosted Technology-Trend or Fad’
Mar 11 2002 // Many vendors now offer agency management systems via ASP (Application Service Provider). The ASP model moves the agency database and management system software from the agency to a data center, and agency personnel access...
NAII Says Territorial Rating Ban Would Increase Premiums for Most Md. Drivers
Mar 7 2002 // In yet another attempt to limit an insurer’s ability to accurately assess risk in Maryland, the House Economic Matters Committee is considering eliminating the use of geographic location as a rating factor in...
ACORD Delivers eCommerce Software Solution Survey
Mar 5 2002 // ACORD has created a survey to determine what eCommerce solution providers can offer to interested insurers, brokers and reinsurers to utilize the ACORD reinsurance standards (formerly known as the Joint Venture or...
Donegal Group Posts Q4 Loss, Decline in Full Year Income
Feb 26 2002 // Donegal Group Inc. of Marietta Pa. reported an operating loss for the fourth quarter of 2001 of $572,172, or $.06 per share on a diluted basis, and operating income of $6,399,099, or $.70 per share on a diluted basis, for...
Swiss Re Reports Renewal Rate Increases, Expects 2001 Loss
Feb 26 2002 // Swiss Re reported that its property/casualty and financial services renewals in January 2002 “saw significant improvements in rates as well as terms and conditions across all lines of business.” The company...
Illinois Insurance Department Releases Credit History Survey Results
Feb 25 2002 // Illinois Director of Insurance Nat Shapo announced the release of the results of a survey on the use of consumers’ credit histories by the Illinois property and casualty insurance industry. In response to public...
AON Survey Says CFOs Want Improvement in Strategic Risk Management
Feb 25 2002 // Aon recently presented preliminary findings of a survey that reveals most CFOs have concerns about whether their risk management strategies support their companies’ business objectives. Conducted by CFO Research...
HAWAII WORKERS’ COMP RATES INCREASE
Feb 25 2002 // Hawaii Insurance Commissioner Wayne Metcalf announced that the National Council on Compensation Insurance (NCCI) has received approval for a 4.6 percent overall increase in workers’ comp insurance loss costs in...
CDI RELEASES AUTO PREMIUM SURVEY
Feb 25 2002 // The California Department of Insurance (CDI) announced the latest edition of the Automobile Insurance Premium Comparison Survey on its Web site at www.insurance.ca.gov. The new survey provides a baseline of premium...
PXRE Posts Q4 Gains, Net Loss for the Year, Approves Capital Increase
Feb 14 2002 // Bermuda’s PXRE Group Ltd. reported that its net income in the fourth quarter increased 56 percent to $8.342 million from $5.335 million for the same period in 2000. Revenues rose 18 percent to $59.964 million, while...
ACE, XL Report Q4 Earnings, Full Year Results
Feb 13 2002 // Bermuda’s two largest insurers, ACE and XL, both announced disappointing fourth quarter results, with ACE’s net income down around 60 percent to $46.265 million for the period, and XL recording a net loss of...
Allianz Net Falls on WTC Attacks, Forecasts Gains in 2002
Feb 8 2002 // German insurance giant Allianz AG confirmed the adverse affects of last September’s attacks on the World Trade Center with the announcement that preliminary figures indicated a net operating profit for 2001 of around...
