Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
National Symposium on Future of Terrorism Risk Insurance Set
Sep 29 2005 // In the wake of Hurricanes Katrina and Rita, leaders from the public and private sectors from throughout the nation will take part in the National Symposium on Terrorism Risk Insurance in the Cannon House Office Building on...
S&P Revises Outlook on Global Reinsurers from Stable to Negative; To Hold Telephone Conference
Sep 29 2005 // Standard & Poor’s Ratings Services announced that it has revised its outlook on the global reinsurance industry to negative from stable. The news appears in a report, published today, entitled “Near-Term...
Best Report: Excess & Surplus 2005 – Premium Growth Decreases Amid Softening Market
Sep 26 2005 // In 2004, after growing significantly for three consecutive calendar years, direct premium volume for the surplus lines industry remained relatively flat, according to a special report released by A.M. Best Co. The...
Colo. Democrats Question Claims That Auto Insurance Rates Have Declined
Sep 25 2005 // Democrats questioned claims by the auto insurance industry and Colorado state insurance commissioner that rates declined after the state switched from a no-fault system to a tort system, saying 48 of 200 companies have not...
RMS Model Shows Increased Risk of Extreme U.S. Terrorism Losses
Sep 22 2005 // According to Risk Management Solutions’ fourth annual U.S. Terrorism Risk Model, the risk of extreme terrorism-related events over the next five years, including terrorist attacks using chemical, biological,...
Hawaii Workers’ Comp Claims Declining
Sep 22 2005 // State of Hawaii officials say the number of workers’ compensation claims filed in the state is on the decline. Preliminary figures show 2004 saw 2,347 fewer workers’ comp claims filed than in 2003, a drop of...
Federal Role in Regulation is the Big Unknown in Surplus Line’s Future
Sep 19 2005 // If Congress Changes Regulation, Impact Would be Big … But That’s a Big ‘If’ While underwriting cycles and the dynamics of distribution are certain to shape the surplus lines industry of 2010, a...
Mutual Trust & Respect Key to the Latino Insurance Market
Sep 19 2005 // In the mainstream population, decisions about which insurance provider or broker to do business with may be influenced by television, radio or the yellow pages phone directory. In the Latino community, people are more...
Platinum Underwriters Estimates Katrina Losses; Lowers Profit Forecast
Sep 16 2005 // Bermuda-based Platinum Underwriters Holdings, Ltd. announced that its estimated losses, net of reinstatement premiums, tax benefits and retrocessional recoveries, from Hurricane Katrina will be approximately 0.5 to 0.6...
S&P Raises Asia Ins. Outlook
Sep 16 2005 // Standard & Poor’s Ratings Services announced from its Hong Kong office that it has revised its outlook on Asia Insurance Co. Ltd. to stable from negative, and affirmed has its “A-” corporate credit...
Citizens Property Insurance Board Tables Rate-Increase Vote Until Nov.
Sep 16 2005 // A vote on whether to request a 37 percent statewide increase on homes insured by Citizens Property Insurance Corp. was tabled Friday in Orlando by state’s insurer of last resort’s board of governors, which will...
Survey Says Panhandle Homeowners Want Wind-Borne Debris Protection
Sep 13 2005 // A large majority of homeowners in the Florida Panhandle, where a special exemption to the state’s building code allows homes to be built without wind-borne debris protection, say they want the same construction...
Survey Reveals Bikers’ Concern as Motorcycle Theft Rates Increase
Sep 13 2005 // With motorcycle theft rates climbing more than 55 percent according to the National Insurance Crime Bureau, and bike sales soaring at unprecedented rates, a survey of motorcycle owners revealed that a full 49 percent are...
Swiss Re Increases Katrina Claims by $700 Million to $1.2 Billion
Sep 12 2005 // Swiss Re has issued a major revision of its expected claims from Hurricane Katrina, increasing its loss estimates by $700 million from $500 million to $1.2 billion. The reinsurer is the first, but undoubtedly not the last,...
Presidents Panel Discusses Industry Trends, Effects of Katrina at Young Agents Conference
Sep 12 2005 // Several insurance industry leaders discussed the effects of Hurricane Katrina and current industry trends, including technology, recruitment efforts and future plans for their companies during a panel at the Independent...
Big ‘I’ CEO Panel Addresses Disaster Preparedness, Future of TRIA
Sep 12 2005 // The insurance industry is hoping that a federal case will be made out of disaster preparedness and response following the devastation of Hurricane Katrina. As their claims adjusters and agents scurried to handle the record...
New Orleans Flood Adds $15-$25B in Hurricane Katrina Insured Losses; Total Estimated Losses Rises to $40-$60B
Sep 9 2005 // Risk Management Solutions now estimates that insured losses from Hurricane Katrina are expected to be $40-$60 billion, of which $15-$25 billion are related to the Great New Orleans Flood. Total economic losses may now...
WCIRB to Propose 5.2% Decrease In Pure Premium Rates Effective Jan. 1
Sep 9 2005 // On July 28, 2005, the WCIRB submitted a filing to the California Department of Insurance (CDI) recommending, among other things, a 5.2 percent reduction in pure premium rates effective Jan. 1, 2006. Earlier today, the...
Wellington 1st Half Net Up 78% at $105 Million; Katrina Losses $75 Million
Sep 8 2005 // The U.K.-based Wellington Plc, which operates both in the Lloyd’s market and as a general insurer with several U.S. subsidiary companies, posted impressive first half results with net pre-tax profits up 78 percent to...
New Report Warns of Rising Threat to Industry from Climate Change
Sep 8 2005 // Hurricane Katrina is a reminder to the U.S. insurance industry, companies, governments and the general public that all are at risk from escalating losses from hurricanes and other weather-related events due to climate...
