Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
SAFECO Cuts Expenses, Looks to Future Profits
Jul 30 2001 // In a move to trim expenses and bring accountability back to every office, SAFECO President and CEO Mike Mc-Gavick is chartinga course to return the company to the forefront of commercial insurance operations. SAFECO...
Canadian Auto Losses Continue to Rise
Jul 19 2001 // Losses related to auto insurance continue to climb in the Atlantic region of Canada following a report released by The Insurance Bureau of Canada (IBC). According to Don Forgeron, regional vice-president of the IBC, costs...
Study Reports Continuing Rise in Calif. Workers’ Comp Claims Costs
Jul 19 2001 // A new study by the Workers Compensation Research Institute (WCRI) indicates California workers’ comp claim costs increased at a double-digit rate, growing by 11 percent between 1997 and 1998 (as of 1999 experience)....
SAFECO Slices Jobs, Looks Toward Future Growth
Jul 19 2001 // Seattle-based SAFECO is taking a number of steps to cut losses and bring growth back to the company which has been in business since 1923. “The expenses we currently have were not a formula for success,” SAFECO...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jul 16 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
AEGIS Affirmed, Outlook Negative
Jul 16 2001 // Fitch affirmed the “AA-” insurer FSR of Associated Electric & Gas Insurance Services Limited (AEGIS) and changed the rating outlook from stable to negative. The negative rating outlook reflects continued...
Oregon Legislature Wraps Up 2001 Session
Jul 13 2001 // Oregon’s legislature adjourned last weekend having once again considered a staggering number of bills during its biennial session, including dozens of insurance-related bills. Michael Harrold, Northwest regional...
S&P Revises Outlook on U.S. Personal Lines P/C Industry to Negative
Jul 11 2001 // Standard & Poor’s revised its outlook on the personal lines property/casualty sector (i.e., home and auto insurance) of the U.S. insurance industry to negative from stable. In conjunction with this rating...
Application Development Trends Honors Fireman’s Fund for WebSphere
Jul 6 2001 // IBM announced that Fireman’s Fund Insurance Company was recognized at the Application Development Trends 2001 Innovator Awards for its AgriWare Application, running on IBM’s WebSphere e-infrastructure software....
A.M. Best Study Reports P/C Premiums Show Strong Growth, Earnings Remain Depressed During 1Q 2001 J
Jul 5 2001 // According to an A.M. Best Co. special-report excerpt published in the July 2 issue of BestWeek, property/casualty net premiums written showed the strongest growth since the tail end of the last hard market in the second...
S&P Affirms AMP ‘AA’ Ratings, Outlook Negative
Jul 3 2001 // Standard & Poor’s affirmed the double-‘A’ counterparty credit ratings and insurer financial strength ratings on the principle operating entities of Australian insurer AMP, but changed the outlook...
The Weather Risk Management Association Releases Results of Industrywide Survey
Jul 2 2001 // The Weather Risk Management Association (WRMA), an international trade organization of the weather risk management industry, recently completed in conjunction with PriceWaterhouseCoopers, a comprehensive survey of the...
Auto Experiment Impacted by Healthy Insurance Market, Household Priorities
Jun 29 2001 // According to the Insurance Information Network of California, when California unveiled an experimental, fixed-rate auto insurance policy for the poor last year, there was hope that it might encourage motorists who drive...
Q1 Results: P/C Industry Premiums Up; Net Income, Surplus Down
Jun 27 2001 // The U.S. property/casualty industry’s net income after taxes dropped 5.4 percent to $5.6 billion in first-quarter 2001 from $5.9 billion in first-quarter 2000, according to Insurance Services Office Inc. (ISO) and...
Independent Investigation Heats Up as PwC Finds $87.8 Million in Unrecorded Claims
Jun 22 2001 // PricewaterhouseCoopers, the provisional liquidators appointed last Monday to sort out the financial mess at the U.K.’s Independent Insurance, have so far uncovered £62 million ($87.8 million) worth of insurance...
Auto Club Says Calif. Teen Driving Law Could Prevent Nearly 100,000 Crashes in Next Decade
Jun 22 2001 // According to the Automobile Club of California California’s Graduated Driver Licensing Law (GDL), one of the toughest teen driving laws in the nation, will have a major impact on the number one killer of teens...
Zurich U.S. CEO Sees a Bright Future in Financial Services
Jun 18 2001 // John Amore, president and CEO of Zurich U.S., has a vision not just for his company but for the industry. “I think the industry needs to rebrand itself,” Amore told IJ in an exclusive interview in...
PROPERTY CATASTROPHE RATES UP
Jun 18 2001 // U.S. property catastrophe rates increased at January 2001 renewals for the first time since 1994, according to Paragon Reinsurance Risk Management Services, Inc. a wholly owned subsidiary of Benfield Blanch Holdings, Inc....
Nevada Legislature Wraps Up 2001 Session on Positive Note
Jun 12 2001 // The Nevada State Legislature adjourned last week following several important victories for the insurance industry, according to lobbying groups. Passage of measures benefiting insurers and the defeat of several trial...
Zurich U.S. CEO Sees a Bright Future in Financial Services
Jun 11 2001 // John Amore, president and CEO of Zurich U.S., has a vision not just for his company but for the industry. “I think the industry needs to rebrand itself,” Amore told IJ in an exclusive interview in...
