Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
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...
Are Fine Arts Floaters A Silver Lining in the Insurance Market Cloud’
Sep 10 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,...
Surplus Lines Market Shows Growth Despite Sluggish Economy
Sep 10 2001 // From all accounts, the surplus lines market is alive and well in the United States despite an economy which continues to sputter in many sectors. Numbers from the Surplus Line Association (SLA) of California,...
Lloyd’s Affirmed, Negative Outlook Removed
Sep 10 2001 // A.M. Best Co. has affirmed the “A” rating of Lloyd’s and removed its negative outlook. The negative outlook was affirmed June 28 to reflect A.M. Best’s concerns over the accelerating rate of...
Progressive Survey: Nearly 1 in 10 Consumers Likely to Commit Insurance Fraud
Sep 7 2001 // With a $120 billion annual price tag, insurance fraud is one of the costliest crimes in America. Progressive Insurance recently conducted a telephone survey on more than 31,000 Americans to better understand how people...
Swiss Re Net Falls in 1st Half, Despite Strong Growth
Sep 7 2001 // The exceptional investment gains it achieved last year, over $2 billion, had a negative impact on Swiss Re’s 1st half results this year, as it reported an overall decrease of $975 million. Pre-tax operating income,...
Zurich Meets Lowered Ist Half Forecasts
Sep 6 2001 // Anglo-Swiss group Zurich Financial Services announced first half results that were largely in line with its announcements in February and March that earnings would decrease this year. It posted a 1st half normalized net...
Storms Drive Iowa Homeowner Rate Increases
Sep 6 2001 // Iowa’s hail, wind and ice storms over the past few years are driving up homeowners’ insurance rates as much as 20 percent, according to the Des Moines Register. Like many other states, Iowa homeowners are...
2000 Surplus Lines Premium Report
Sep 3 2001 // Processing at the Surplus Lines Stamping Office of Texas this year confirms what underwriters, agents, and risk managers already know – the hardening of the Property/Casualty market continues. Through August, the...
Chubb Survey Reveals ‘Roadshow’ Attendees Are Underinsured
Sep 3 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...
