Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
Homeowners Rates on Rise
Jul 8 2002 // Homeowners insurance rates have risen by average of 8 percent nationwide in 2002 due to an extraordinary number of catastrophes, the high cost of home repairs and excessive jury awards in mold cases, according to a new...
AIA Says Inaccurate Motor Vehicle Records Increase Premiums for Good Drivers, Jeopardize Highway Saf
Jul 2 2002 // Inaccurate, incomplete motor vehicles records (MVRs) not only compromise highway safety and force good drivers to subsidize bad drivers, they also cause insurers to rely on other methods to fully assess individual driver...
Homeowners’ Rates on Rise: Increased Catastrophes, Soaring Home Repairs and Excessive Jury Awards am
Jul 1 2002 // An extraordinary number of catastrophes, the high cost of home repairs and excessive jury awards due to the emergence of mold claims are pushing the cost of homeowners insurance upward an average of 8 percent nationwide in...
S&P Revises Outlook on France’s Abeille to Positive
Jun 26 2002 // Standard & Poor’s has revised its outlook on French non-life insurer Abeille Assurances to “positive” from stable.” The change, said S&P, reflects “the likelihood of an upgrade by...
Wash. Workers’ Comp Benefits Increase 0.9 Percent with Cost of Living
Jun 21 2002 // Workers currently receiving Washington workers’ compensation time-loss or pension benefits will receive less than a 1 percent cost-of-living increase on July 1, 2002. The new maximum monthly benefit will be $3,722.90...
A.M. Best Reports P/C Insolvencies Trends Continued in 2001
Jun 20 2002 // Thirty property/casualty insurers were declared insolvent in 2001, according to the special report, “P/C Industry—2001 Insolvencies,” just issued by A.M. Best Co. The same number of companies became...
Colo. Wildfires Won’t Increase Homeowners Rates
Jun 18 2002 // Despite the severity of the Colorado wildfires that have blazed through the state in recent weeks, the good news is that insurance companies insist homeowners rates won’t rise due to the immense amount of claims...
PIACT’s Company Performance Survey Evokes Responses from Insurers
Jun 17 2002 // James Pascarella, CPCU, President of the Professional Insurance Agents of Connecticut (PIACT) announced that the organization had received wide ranging responses from many insurers to its year long survey of independent...
AXA Announces Decline in Embedded Value for 2001
Jun 13 2002 // France’s AXA Group announced that the giant insurer’s overall embedded value – the total of shareholders’ net assets and the value of insurance in force – fell 1.4 percent last year to...
Boston’s AIR Wins WRMA Temperature Prediction Contest
Jun 11 2002 // Boston’s AIR Worldwide Corporation, a leading catastrophe and weather risk modeling company, announced that it had won the Weather Risk Management Association (WRMA) forecasting contest at the organization’s...
Report Slowdown in U.K. Auto Rate Increases
Jun 10 2002 // According to a recent study, UK automobile insurance rates are flattening out after three years of big premium increases. The report, compiled by market analyst Datamonitor, found that rates had increased 53 percent on...
Lloyd’s Sees Costs of Risks Continuing to Rise
Jun 10 2002 // Julian James, Director of Worldwide Markets at Lloyd’s, in a speech given last week to business leaders in Singapore and Hong Kong, stated that the costs of risk are continuing to rise. James, attributed the rise in...
WCIRB Studies WC Claim Frequency Decline
Jun 10 2002 // Workers’ compensation non-cumulative indemnity claim frequency declined at an annual rate of 6 percent in the 1990’s, according to a study released by the Workers’ Compensation Insurance Rating Bureau of...
CALIF. COMMISSIONER APPROVES PURE PREMIUM RATE INCREASE
Jun 10 2002 // California Insurance Commissioner Harry Low recently approved a 10.1 percent average increase in workers’ compensation pure premium rates. The increase, which was proposed by the Workers’ Compensation Insurance...
CALIF. WORKERS’ COMP TRENDS INCREASE
Jun 10 2002 // A study by the Washington-based National Academy of Social Insurance revealed that California’s workers’ compensation benefits have increased 13.9 percent to $8.9 billion in 2002, signaling the end of a decline...
La. Fire Ins. Premiums May Go Down
Jun 10 2002 // Three fire departments in Louisiana’s Jeffers on Parish are set to receive higher fire ratings in June, which could save property owners in Marrero and Harvey as much as 15 percent on their fire insurance premiums....
Ark. Workers’ Comp Costs Decline
Jun 10 2002 // Arkansas Insurance Commissioner Mike Pickens reported a 4.5 percent loss decrease in the state’s workers’ compensation voluntary insurance market. Workers’ comp costs have declined for eight straight...
Standard and Poor’s says Auto, Homeowners Outlook Stable
Jun 7 2002 // Higher pricing underlies the prospect of improved earnings among U.S. auto and homeowners’ insurers, according to a midyear report released by Standard & Poor’s. The outlook has been revised to stable...
Unprecedented Response to PIA Market Survey
Jun 4 2002 // The response to the Hard Market Survey conducted by the Professional Insurance Agents Association of Connecticut, New Hampshire, New Jersey and New York (See IJ Website May 1) has received “the highest rate of...
Standard and Poor’s: Pricing Discipline Major Factor for Industry Outlook
Jun 3 2002 // Pricing discipline is the key factor separating the four major insurance sectors in the U.S., according to a set of commentaries Standard & Poor’s will release in the next week. The health and life insurance...
