Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Property Claims from WTC at $16.6 Billion and Rising
Nov 6 2001 // Property insurance claims from the Sept. 11 attacks are worth $16.6 billion and rising, according to the first estimate from the main U.S. claims tallying service. According to a Reuters report, that would make the...
Industry Pays First $10 Billion of Future Terror Claims in Latest Fed Plan
Nov 5 2001 // The Bush administration and Congressional leaders hammered out a new version of a plan to provide reinsurance assistance to the U.S. insurance industry in the wake of the September 11th terrorist attacks, although...
CNA Surety Corp. Third Quarter Net Income Down From 2000
Oct 31 2001 // Chicago-based CNA Surety Corporation reported net income for the third quarter of $12.0 million, or 28 cents per share, compared to $13.3 million, or 31 cents per share, for the comparable quarter in 2000. Operating...
CONNING PREDICTS RISING COSTS
Oct 29 2001 // Property/casualty insurers are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast from Conning & Company. This and a reassessment of what...
SURVEY FINDS INSURERS USING WEB
Oct 29 2001 // Insurance companies are finally hitting their stride in finding practical uses for Internet technologies, according to a recent “Emerging Strategies in Insurance & Technology” survey sponsored by IVANS...
Federal Government, Insurers Debate Plan to Cover Future Terrorist Acts
Oct 29 2001 // The push is on for creation of a federal plan to deal with future terrorist attacks. The Bush Administration has come up with an alternative to the insurance industry’s initial proposal, which called for a terrorist...
Commercial Insurance Market Index Shows Evidence of Hardening Market
Oct 26 2001 // According to the recently released third-quarter Commercial Insurance Market Index — reflecting market observations of the largest commercial insurance brokers across the nation — commercial insurance premium...
A.M. Best Maintains Negative Outlook on SAFECO’s P/C Subsidiaries
Oct 25 2001 // In response to SAFECO’s recently announced loss reserve strengthening, A.M. Best Co. continues to maintain a negative outlook on the property/casualty operations’ financial strength rating of...
Hiscox Increases WTC Loss Estimates to
Oct 22 2001 // U.K. insurer Hiscox plc, which operates in the Lloyd’s market and independently, announced that it now expects net losses from the September 11 attacks on the U.S. to total around £30 ($43.5 million) rather...
Federal Government Proposes Plan to Help Cover Future Terrorist Attacks
Oct 22 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
Federal Government Proposes New Plan to Help Cover Future Terrorist Attacks
Oct 18 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
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...
