Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
ERC Faces an Uncertain Future
Jan 13 2003 // Employers Reinsurance Corp. (ERC), the chief operating unit of General Electric’s sprawling reinsurance empire, is facing an uncertain future. It’s been hit by the same problems as Munich Re, Swiss Re, SCOR,...
ERC Faces an Uncertain Future
Jan 13 2003 // Employers Reinsurance Corp., the chief operating unit of General Electric’s sprawling reinsurance empire, is facing an uncertain future. It’s been hit by the same problems as Munich Re, Swiss Re, SCOR, Gerling...
Willis NA’s Outlook Raised
Jan 13 2003 // Moody’s Investors Service revised its outlook on the debt ratings of Willis NorthAmerica Inc., a subsidiary of Willis Group Holdings. to positive from stable. The rating agency commented that improved earnings,...
Oxley Forecasts Insurance Issues Awaiting the 108th Congress
Jan 13 2003 // For more than a year, the issue of federal backstop legislation for terrorism risk has dominated Congress’ attention when it comes to insurance industry issues. Now that the Terrorism Risk Insurance Act has been...
WCIRB’s Q3 Report Reveals Price Increases and Adverse Loss Development
Jan 9 2003 // The Workers’ Compensation Insurance Rating Bureau’s (WCIRB) summary of statewide third quarter 2002 experience shows sharp increases in rates charged to policyholders, declines in claim frequency, and continued...
S&P’s Outlook on Italian Insurance Market is “Negative,” but “Improving”
Jan 9 2003 // Standard & Poor’s has just completed a review of the Italian insurance market, and announced that “the ratings outlook for the market is negative, reflecting an expected downward trend in insurer financial...
Weiss Ratings Report Says Company Failures Decline in 2002
Jan 9 2003 // Insurance company failures declined 48.9 percent to 23 in 2002, from 45(1) in 2001, according to Weiss Ratings, Inc. Three life and health insurers and 20 property and casualty insurers failed in 2002, compared to six and...
SLA Reports 104.5 Percent Increase for Processed Surplus Line Premium
Jan 9 2003 // Ted Pierce, executive director of the Surplus Line Association of California, released the association’s 2002 totals for processed surplus line premium showing a 104.5 percent increase over the 2001 premium...
SPIR Meets Increasing Demand for Terrorist Cover
Dec 27 2002 // Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), established last March by Germany’s Allianz AG, several other European insurers and Bermuda’s XL Capital, offers property and business interruption...
Erie Reports Storm Losses, Loss Reserve Increases
Dec 25 2002 // Erie Insurance Group announced that its property and casualty companies would increase loss and loss adjustment expense reserves by approximately $184 million in the fourth quarter of 2002. The company also reported its...
W. Va. State Agencies See Rise in Med-Mal Claims
Dec 19 2002 // A medical malpractice law passed in West Virginia last year is apparently to blame for an increase in medical malpractice lawsuits against state agencies this year. According to the Charleston Daily Mail, a legislative...
Preliminary Swiss Re sigma Report Confirms 2002 “Below Average” Year for Catastrophe Losses
Dec 19 2002 // Swiss Re has issued some preliminary findings from its forthcoming sigma report on the world’s catastrophes in 2002. Initial estimates show that it was a relatively benign year. Although “19,000 people world...
Insurance Information Institute Takes Peek at 2003 Forecast
Dec 19 2002 // Each year the Insurance Information Institute (I.I.I.) invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals...
Survey Says Industry Executives Want IT Modernization Despite Budget Limits
Dec 18 2002 // Sapiens International Corporation an insurance business solutions provider, announced results of its survey of U.S.-based senior insurance executives conducted during the annual ISOTECH 2002 conference last month in...
CDI APPROVES AB 749 PREMIUM INCREASE ENDORSEMENT FORMS
Dec 16 2002 // Calif. Insurance Commissioner Harry Low recently issued a decision regarding the WCIRB’s pure premium rate filing, which was submitted to the Commissioner on July 31, 2002. In his decision, the Insurance Commissioner...
S&P’s Revises Travelers Outlook
Dec 16 2002 // S&P’s affirmed its “A-” counterparty credit and senior debt ratings on Travelers Property Casualty Corp. and its “AA-” counterparty credit and financial strength ratings on members of the...
Mass. Insurance Division Approves 2.7 Percent Auto Rate Increase
Dec 16 2002 // Massachusetts Insurance Commissioner Julie Bowler announced a 2.7 percent auto insurance rate increase for 2003 after rejecting an average rate increase request by insurers of 7 percent. The smaller rate increase...
Let’s Reform the Texas Insurance Market the Right Way
Dec 16 2002 // Oklahoma Insurance Commis-sioner Carroll Fisher put it best when he recently said, “The best regulator of insurance rates is the consumer. For all the hard work state employees do to regulate insurance companies,...
Movin’ & Shakin’: ERC, Lloyd’s Shake Up Reinsurance Market
Dec 16 2002 // The events of Sept. 11 were a defining moment in the reinsurance market; a watershed event that opened up the eyes of everyone in the insurance industry, forcing a re-evaluation of the industry’s practices,...
IRC Reports Satisfaction With Companies Despite Rising Premiums
Dec 12 2002 // According to a recent Insurance Research Council (IRC) survey of U.S. households, most Americans are satisfied with the companies that provide their personal insurance. More than nine out of 10 respondents with homeowners...
