Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Shrinking Budgets Stem Fraud Fighting Efforts
Mar 9 2009 // Fewer Fraud Bills To Be Debated in West With the downtrodden economy rumbling through the West, momentous and game-changing fraud bills will be in short supply this year. Lawmakers’ time and patience will be soaked...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Mar 9 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
Best Says 2009 Global Non-Life Reinsurance Outlook Remains Stable
Mar 4 2009 // A.M. Best Co. said it is “maintaining a stable outlook in 2009 for the global reinsurance sector for the third consecutive year. This current outlook implies that the majority of 2009 reinsurer rating actions are...
Best Maintains Stable Outlook on U.S. Personal, Commercial Lines Sectors
Mar 4 2009 // The rating agency A.M. Best Co. said it continues to view the outlook for both the U.S. personal and commercial lines markets as stable. Despite the ongoing soft period in the cycle in commercial lines, a contracting...
S&P Downgrades Hartford and Subs; Negative Outlook Assigned
Mar 4 2009 // Standard & Poor’s Ratings Services has lowered its counterparty credit rating on Hartford Financial Services Group Inc. (HIG) to ‘BBB’ from ‘BBB+’ and its counterparty credit and...
S&P Affirms State Farm Ratings, But Revises Outlook to Negative
Mar 4 2009 // Standard & Poor’s Ratings Services has affirmed its ‘AA’ counterparty credit and financial strength ratings on State Farm Mutual Automobile Insurance Co. and all of its core companies, including...
Oregon Bill Could Drive Up Insurance Costs, Insurers Claim
Mar 3 2009 // The American Insurance Association (AIA), National Association of Mutual Insurance Companies (NAMIC) and Property Casualty Insurers Association of America (PCI) are reaching out to Oregon legislators to highlight what it...
Willis: Increase in Capacity, Downturn in Energy Sector Tempers Hardening Market
Mar 3 2009 // With capacity levels up at the start of 2009, the energy insurance market remains relatively stable — says a new industry report — despite insurers seeking rate increases and the energy industry trying to...
Insurance Fraud Arrests and Convictions on the Rise in Virginia
Mar 3 2009 // The Insurance Fraud Program (IFP) of the Virginia State Police said it made 307 arrests for insurance fraud last year — a 47 percent increase over the previous year. In addition, convictions for insurance fraud in...
Best, S&P See No Change in AIG’s Ratings, But Outlook Remains Negative
Mar 3 2009 // A.M. Best Co. and Standard & Poor’s Ratings Services have both issued statements in relation to American International Group’s announcement of a $61.7 billion fourth quarter loss, and the subsequent...
Best Downgrades Hartford’s Life and P/C Ratings; Outlooks Mostly Negative
Mar 3 2009 // A.M. Best Co. has downgraded the financial strength ratings (FSR) to ‘A’ (Excellent) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “a+” from “aa-” of the key...
S&P Says Allianz Ratings, Outlook ‘Unaffected By 2008 Loss’
Mar 2 2009 // Standard & Poor’s Ratings Services has stated that its ratings and outlook on Germany’s Allianz SE (AZSE – rated AA/Stable/A-1+) and various core operating entities “are unaffected by the...
Catlin Sponsored Arctic Survey Team Begins Ice Study
Mar 2 2009 // The Bermuda-based Catlin Group Limited announced that a team of three British explorers has commenced a vital scientific expedition to the North Geographic Pole. They hope to help establish how long the sea ice floating in...
Cooper Gay: Premiums Rise as Reinsurers Recover
Feb 26 2009 // Reinsurers have begun 2009 determined to wrest back the initiative from a period of softening rates and savagely declining investment returns. As a consequence, underwriters are increasingly being governed by the...
SeaBright Revenue Up 5.2% in Q4; Up 5% for Year-End 2008
Feb 25 2009 // SeaBright Insurance Holdings Inc., based in Seattle, Wash., reported net income for the fourth quarter 2008 increased 2.3 percent year-over-year, to $10.2 million compared to net income of $10.0 million for the same period...
Kingsway Financial Loss Worse Than Forecast
Feb 23 2009 // Toronto-based Kingsway Financial Services Inc. said Friday its quarterly loss came in even deeper than it had estimated a week ago, leading the company to chop its dividend and sending its shares 15 percent lower. The loss...
Mercury Insurance Chairman: Independent Agents Will Always Have Future
Feb 22 2009 // Despite the seemingly difficult times independent insurance agents may be facing today, they will always have a future, according to George Joseph, chairman and founder of Mercury Insurance, considered one of the most...
U.S. Regulator Sees Future Role for Mortgage Insurance Industry
Feb 20 2009 // The main regulator for Fannie Mae and Freddie Mac Thursday said he sees a future for mortgage insurance companies that underwrite many loans for the two mortgage finance giants. “They’re very important,”...
Harleysville Premiums Up 5% in Q4; Combined Ratio 98.5%
Feb 20 2009 // Pennsylvania-based Harleysville Group Inc. (NASDAQ:HGIC) reported fourth quarter net written premiums increased 5 percent to $214.5 million in 2008, compared to $203.6 million in the same period in 2007. Net written...
Nevada Workers’ Comp Loss Costs, Risk Rates to Decrease
Feb 13 2009 // Nevada Insurance Commissioner Scott Kipper has approved revised workers’ compensation voluntary loss costs and assigned risk rates filed by the National Council on Compensation Insurance (NCCI). The revised loss...
