Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Nov. Composite Rate Increase for P/C Stays at 2%
Dec 6 2004 // According to MarketScout, the November composite rate increase for property and casualty insurance remained at 2%. Richard Kerr, chairman and CEO of MarketScout (www.marketscout.com) commented, “We expect the market...
OHIO COMP MEDICAL COSTS DOWN 6.7%:
Dec 6 2004 // The Ohio Bureau of Workers’ Compensation announced recently that paid medical costs for workers’ compensation claims were down 6.7 percent, about $15 million lower than expected for the first quarter of fiscal...
Turning 35: The National Alliance Looks Back … and Into the Future
Dec 6 2004 // Insurance education society has served more than 130,000 participants. 1969. It was the dawning of the age of Aquarius, it was one giant leap for mankind, it was the Summer of Love, it was Inna-Gadda-Da-Vida, baby. And, it...
FOCUS ON THE FUTURE: Come 2014, Industry Should Look Very Familiar
Dec 6 2004 // Ten years from now, some of the players within the property casualty insurance industry will have changed but the industry itself will not look dramatically different from what it is today: Smaller companies and...
W. VA. WORKERS’ COMPENSATION AUDIT REPORTS POSITIVE TRENDS:
Dec 6 2004 // An independent audit report for fiscal 2004 shows continued positive financial trends for the West Virginia Workers’ Compensation Commission, according to Gregory Burton, executive director. The report cites a...
IIAT Reports Homeowners Rates Down in Texas, Coverage Improved
Dec 3 2004 // Homeowners who buy insurance from independent insurance agents in Texas should be seeing lower premiums and better coverages, according to the Independent Insurance Agents of Texas. The claim is based on results of a...
Swiss Re Insurance Review Sees Continued Profits; Slower Premium Growth
Dec 2 2004 // Swiss Re held its annual review and outlook on insurance markets in London yesterday, Dec.1. Looking to the future, the company predicted that the life and non-life industry’s 2004 return to profitability would...
Best Affirms SCOR and Subs ‘B++’ Ratings; Changes Outlook to Positive
Dec 2 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “B++” (Very Good) of French reinsurer SCOR and its core subsidiaries (collectively referred to as SCOR Group) and has assigned an...
FERMA Survey Finds Risk Managers Question Broker Compensation; More Transparency Needed
Dec 1 2004 // According to a recent e-mail survey, conducted by the Federation of European Risk Management Associations (FERMA), risk managers and their associations have long questioned how brokers are compensated. FERMA queried the...
S&P Affirms Horace Mann Ratings; Outlook Stable
Dec 1 2004 // Standard & Poor’s Ratings Services has revised its outlook on Illinois-based Horace Mann Educators Corp. and its subsidiaries to stable from negative. Standard & Poor’s also affirmed its...
S&P Revises Outlook on WellPoint
Dec 1 2004 // Standard & Poor’s has revised its outlook on WellPoint Inc. (NYSE:WLP; WellPoint; formerly Anthem Inc., renamed following merger with WellPoint Health Networks Inc.) to stable from positive. At the same time,...
Study Finds Medical Costs Driving Up Auto Injury Claims
Nov 30 2004 // A new study by the Insurance Research Council (IRC) finds that claimed losses for auto injuries have escalated at vastly different rates across four states with no-fault auto insurance regulations. From 1997 to 2002, the...
Fortis Posts 79% Increase in Nine Month Net Op. Profits; Raises Full-Year Forecast
Nov 29 2004 // Jean-Paul Votron, who became the new CEO of Belgian-Dutch financial giant Fortis at the beginning of October, has inherited a very successful company from his predecessor Anton van Rossum. Fortis posted a 79 percent...
California’s SCIF Files an Average 5% Rate Decrease
Nov 29 2004 // State Compensation Insurance Fund announced it has filed with the California Department of Insurance an average rate decrease of 5 percent on new and renewal workers’ compensation policies with renewal dates on or...
RAA Survey Says U.S. Reinsurers Wrote $22.3 B in 3Q
Nov 29 2004 // According to a survey of reinsurers’ statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 27 of the leading U.S. property/casualty reinsurers wrote $22.3 billion of net...
S&P Revises Outlook on Hartford PC to Negative; Cites Spitzer Probe
Nov 24 2004 // Standard & Poor’s Ratings Services announced that it has revised its outlook on Hartford Financial Services Group (HIG) Inc.’s P/C subsidiaries in the Hartford Fire Intercompany Pool (collectively referred...
Wash. L&I Adopts 3.7% Workers’ Comp Rate Increase
Nov 23 2004 // The Washington Department of Labor and Industries finalized an average 3.7 percent rate increase for workers’ compensation insurance in 2005. The increase takes effect Jan. 1 and will raise an additional $52 million...
Industry Consolidation Continues to Gain Momentum, 2005 Looks Cloudy
Nov 22 2004 // 2004 Could Break Records for Announced Transactions Agency consolidations are likely to achieve record results for 2004 but the outlook for 2005 remains unclear. Agency acquisitions in 2004 will more than likely outpace...
Texas Judge Strikes Down Rate Rollbacks for State Farm, Farmers
Nov 22 2004 // TDI, Lt. Governor vow to continue efforts on behalf of homeowners. A state district judge in Texas on Nov. 8, 2004, overturned mandated rate rollbacks in homeowners insurance for State Farm and Farmers insurance companies,...
Turning 35: The National Alliance Looks Back … and Into the Future
Nov 22 2004 // Insurance education society has served more than 130,000 participants. 1969. It was the dawning of the age of Aquarius, it was one giant leap for mankind, it was the Summer of Love, it was Inna-Gadda-Da-Vida, baby. And, it...
