Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Future of Bond Insurance at Risk
Dec 27 2007 // The biggest casualty of the crisis surrounding bond insurers may well be the insurers themselves. Issuers and bond buyers alike may find it easier now to dispense with insurance, experts say, given that the finances of...
Florida Rejects Travelers’ Homeowners Insurance Rate Increase
Dec 27 2007 // A proposed 4.6 percent average statewide increase for homeowners insurance by The Travelers Companies Inc., was rejected last week by Florida’s insurance commissioner. Kevin McCarty notified Travelers that its...
Organic Growth Success Should Be a Key Initiative for 2008
Dec 23 2007 // Transparency, disclosure, and private equity interest reshape how high growth agencies do business As agents and brokers embark upon the strategic planning process for 2008, organic growth initiatives remain at the...
Picking up Katrina Claims Where Scruggs Left Off
Dec 23 2007 // Richard Scruggs, facing federal charges, has now removed himself from the law consortium, Scruggs Katrina Group, which he formed in 2005 to represent claimants after Hurricane Katrina. But other lawyers have formed The...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 23 2007 // I.I.I.’s Earlybird Forecast predicts negative premium growth but continued profitability in 2008 Next year may go down on record as one of the best insurance industry underwriting performances in the past 80 years,...
Best Revises XL’s Rating Outlook to Negative
Dec 21 2007 // A.M. Best Co. has revised the outlook to negative from stable on the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-“of Bermuda’s XL Capital...
Airline Insurance Market to Post Loss for Year; First Since 2000
Dec 20 2007 // The airline insurance market this year is expected to post its first loss since 2000, according to preliminary data collected by the Aviation & Aerospace division of Aon Corporation. Aon reported that forecasts...
S&P Lowers Kingsway Ratings to ‘BB+’; Outlook Negative
Dec 20 2007 // Standard & Poor’s Ratings Services joined A.M. Best in lowering its senior unsecured and long-term counterparty credit ratings on Toronto-based Kingsway Financial Services Inc. to ‘BB+’ from...
Study: Texas Homeowners Rates Remained High in 2005
Dec 20 2007 // Texas homeowners insurance premiums stabilized some after legislative reforms in 2003, but two years later were still the highest in the United States, according to a new study released by the National Association of...
Reinsurance Rule Change Planned to Increase Competition in Florida
Dec 20 2007 // Florida Gov. Charlie Crist and the state Cabinet preliminarily approved a rule change that would lift a competitive disadvantage faced by foreign companies selling backup coverage to property insurers. Insurance companies...
Preliminary Swiss Re ‘sigma’ Report Estimates 2007 Cat Losses
Dec 19 2007 // Swiss Re has released a preliminary “sigma” report detailing the extent of 2007’s catastrophe losses. According to its initial estimates, more than 20,000 people were killed by natural and man-made...
Survey Shows Phishing Attacks in 2007 Caused $3B in Damages
Dec 18 2007 // Phishing attacks in the United States soared in 2007 as $3.2 billion was lost to these attacks, according to a recent survey. The survey found that 3.6 million adults lost money in phishing attacks in the 12 months ending...
RLI Marine Teams Up with National Equipment Register to Offer Theft Waiver
Dec 18 2007 // Peoria, Ill.-based RLI Marine announced today that it has entered into an agreement with National Equipment Register (NER) to help RLI clients reduce the expense associated with construction equipment theft. RLI...
N.C. Coastal Towns Fear Change Will Increase Flood Insurance Rates
Dec 17 2007 // Some coastal residents could see a spike in their insurance rates because of a recent decision by the North Carolina Building Code Council. The council toughened the coastal housing code for wind-borne debris. The code now...
S&P Raises RenRe’s Ratings to ‘A’ and ‘AA-‘; Outlook Stable
Dec 17 2007 // Standard & Poor’s Ratings Services has raised its counterparty credit rating on Bermuda-based RenaissanceRe Holdings Ltd. to ‘A’ from ‘A-,’ as well as its counterparty credit and...
Survey of Analysts Projects Healthy Underwriting Profits
Dec 17 2007 // Next year may just go down on record as one of the best insurance industry underwriting performances in the past 80 years, according to an industry survey of Wall Street stock analysts and industry professionals. Analysts...
Miss. Litigation Group Forms to Maintain Momentum in Katrina Cases
Dec 14 2007 // The Katrina Litigation Group announced its formation in Mississippi to proceed where the Scruggs Katrina Group began with major litigation on behalf of policy holders. This group is comprised of the Barrett Law Office,...
S&P Affirms AIG’s ‘AA’ Ratings; Asia Unit Upgraded to ‘AA+’; Outlook Stable
Dec 13 2007 // Standard & Poor’s Ratings Services gave the American International Group a vote of confidence as it affirmed AIG’s ‘AA’ long-term counterparty rating and its ‘AA+’ counterparty...
Towers Perrin Study Indicates U.S. Tort Costs Down in 2006
Dec 13 2007 // The 2007 update on U.S. Tort Cost Trends from the Tillinghast insurance consulting practice of Towers Perrin said U.S. tort costs totaled $247 billion in 2006, which is $57 less per person than in 2005 at approximately...
Power Returns Slowly in Okla.; Losses from Storm Could Rise to $35M
Dec 13 2007 // The lights are going back on slowly in Oklahoma after a massive ice storm, the insured losses from which could reach $35 million, an insurance industry trade group said. “Insurance claims from ice damage are often...
