Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
IVANS Survey Finds Insurers Just Hitting Their Stride with Web
Oct 18 2001 // Even as “new economy” hype is receding into memory, insurance companies are finally hitting their stride in finding practical uses for Internet technologies, according to a recent “Emerging Strategies in...
WCIRB Notes 19% Rise in Rates for First Half
Oct 16 2001 // On Oct. 8, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its summary of mid-year California workers’ compensation results, with the report showing that the average charged insurer rates for...
IPC Holdings Increases Terror Loss Estimates to $95 Million
Oct 15 2001 // Bermuda-based IPC Holdings, Ltd., which is controlled by American International Group, increased its estimated impact of losses from the attacks of September 11 from $75 million to $95 million, “based on updated...
AIG Expects Claims to Rise from WTC
Oct 12 2001 // AIG, the world’s largest insurer by market value, is now expecting $800 million in claims from the World Trade Center before taxes and net of reinsurance, Chairman Maurice Greenberg said in a conference...
State Farm Auto Rates in Oregon Driven Up
Oct 9 2001 // State Farm auto insurance policyholders in Oregon, who are accustomed to seeing annual dividend checks, instead will see an average 5.4 percent raise in rates starting Nov. 1, the company said earlier this week. According...
NYSID Sets Up Fraud Force To Prevent Bogus WTC Claims
Oct 8 2001 // The New York State Insurance Department has established a “comprehensive insurance fraud-fighting plan specifically designed to combat any incidents of insurance fraud resulting from the World Trade Center...
Lloyd’s Wellington Ups Attack Loss Estimates, Plans Capacity Increase
Oct 8 2001 // Wellington Underwriting, a leading operator of a number of Lloyd’s Syndicates, announced that its losses from the September 11 attacks on the U.S. would be around £50 million ($73.5 million), substantially more...
IIAT Survey Shows Major Impact Caused by
Oct 8 2001 // More than half of Independent Insurance Agents of Texas members report that limitations on new HO-B policies is having a “very significant effect” on their business. The “very significant effect”...
Financial, Human Losses Grow from Sept. 11 Tragedies
Oct 8 2001 // The financial and human losses from the events of Sept. 11 continue to haunt insurance companies at home and around world. Insurers have been assessing the impact and are beginning to pay claims with an as yet undetermined...
Chubb CEO Says Industry Is Strong, Warns That Unavailability of Reinsurance Will Jeopardize Future T
Oct 1 2001 // Dean R. O’Hare, Chairman and CEO of The Chubb Corporation, one of the world’s leading property and casualty insurers, told Congress that the insurance industry is strong and will be able to pay all claims...
Chubb Survey Reveals ‘Roadshow’ Attendees Are Underinsured
Sep 30 2001 // Results of a survey conducted by Chubb Group of Insurance Companies reveals that many private collections of fine arts or antiques may be underinsured. When Chubb’s “Antiques Roadshow,” a popular PBS...
Are Fine Arts Floaters a Silver Lining in the Insurance Market Cloud?
Sep 30 2001 // Unlike many lines of insurance, the fine arts and collections market has so far managed to avoid the difficulties of a hardening environment. But is it robust enough to carry the industry through tough times? Maybe not,...
Rising Loss Estimates Heighten Concern for the Stability of Some Insurance Sectors September 28, 20
Sep 28 2001 // In light of rising estimates of losses from the World Trade Center tragedy, some sectors of the insurance industry could suffer significant damage to their financial stability, according to a new assessment by Weiss...
ACE Increases Loss Estimates from Terrorist Attacks
Sep 25 2001 // Bermuda’s ACE Ltd. increased its estimates of anticipated losses from the terrorist attacks in the U.S. from $400 million to $550 million, citing additional reinsurance claims as the principal factor. The...
CNA Sees Pre-Tax Losses of Up to $350 Million
Sep 24 2001 // Chicago-based CNA Financial Corp., the No. 2 U.S. business insurer, said its losses from the Sept. 11 attacks on the World Trade Center and the Pentagon could reach $350 million on a pre-tax basis. CNA said the projected...
London Market To Cancel Airlines’ War, Terrorist Risk Cover – Big Increases Anticipated
Sep 20 2001 // According to a report from Reuters News Agency, insurers in the London market, including Lloyd’s, have given the airlines they insure notice that coverage for war risks and terrorist attacks will no longer be...
Michigan’s First Auto Theft Forum Examines Auto Theft Trends in State
Sep 17 2001 // Experts from the insurance industry, law enforcement, automobile manufacturers and dealers, as well as prosecuting attorneys and state legislators gathered Tuesday for Michigan’s first Auto Theft Forum 2001, a...
Texas Insurers Estimate 60 Percent Increase in Water and Mold Claims
Sep 17 2001 // New estimates from the insurance industry predict insurer losses from water and mold damage claims will reach $780 million in Texas this year. The figure represents a 60 percent increase over claims from a year...
HO BENCHMARK RATES TO RISE
Sep 17 2001 // Although the statewide average for homeowners insurance benchmark rates is slated to rise slightly in the coming year, Texas Department of Insurance Commissioner Jose Montemayor said the increase is not expected to have...
Stock Market Decline May Lead Swiss Re to Reconsider Share Sale
Sep 11 2001 // The sharp,drop in world stock markets may giving Swiss Re second thoughts about its plan to issue up to $2.6 billion worth of additional shares to fund its purchase of Lincoln National’s reinsurance...
