Latest Trends Headlines
All the headlines from our Trends Topic Page, ordered by recency.
F.A. Legal Looks for Average Claim Costs to Rise in 2002
Nov 14 2001 // In 2002, the average cost per claim could rise to $30,000 that individual financial professionals pay to defend themselves against litigation, and in some cases it could exceed $100,000, according to Walter Baumgardner, a...
IIAA Looks at Terrorism Bill Vote as Momentum Builder
Nov 13 2001 // A vote by the House Financial Services Committee last week to approve legislation to aid insurance consumers following future terrorist attacks serves as a momentum builder on Capitol Hill, according to Independent...
Arizona Airport Sees Possible Rate Increases
Nov 13 2001 // Unless the government intercedes, Tucson International Airport could face large increases in liability and property insurance rates because of the Sept. 11 attacks. The Associated Press reported the airport could see its...
WTC PROPERTY CLAIMS RISING
Nov 12 2001 // Property insurance claims from the Sept. 11 attacks are worth $16.6 billion and rising, according to the first estimate from the Insurance Services Office Inc.’s Property Claim Services unit. That would make the...
Fire Loss Claim Doesn’t Add Up
Nov 12 2001 // Nestor Alfredo Milon, 54, of Silverlake, surrendered to Los Angeles Superior Court after being charged with one count of insurance fraud by the Los Angeles County District Attorney’s Office. Milon, who has been...
WCRI Study Finds Rapid Comp Cost Rise in Mass.
Nov 9 2001 // The Workers Compensation Research Institute, based in Cambridge Massachusetts, reports that a new study shows that workers’ compensation claims costs rose by as much as 10.5 percent from 1997 to 1998, based on...
Property Claims from WTC at $16.6 Billion and Rising
Nov 6 2001 // Property insurance claims from the Sept. 11 attacks are worth $16.6 billion and rising, according to the first estimate from the main U.S. claims tallying service. According to a Reuters report, that would make the...
Industry Pays First $10 Billion of Future Terror Claims in Latest Fed Plan
Nov 5 2001 // The Bush administration and Congressional leaders hammered out a new version of a plan to provide reinsurance assistance to the U.S. insurance industry in the wake of the September 11th terrorist attacks, although...
CNA Surety Corp. Third Quarter Net Income Down From 2000
Oct 31 2001 // Chicago-based CNA Surety Corporation reported net income for the third quarter of $12.0 million, or 28 cents per share, compared to $13.3 million, or 31 cents per share, for the comparable quarter in 2000. Operating...
CONNING PREDICTS RISING COSTS
Oct 29 2001 // Property/casualty insurers are very likely to begin pricing “terrorist attack risk” separately from other coverages, according to a new forecast from Conning & Company. This and a reassessment of what...
SURVEY FINDS INSURERS USING WEB
Oct 29 2001 // Insurance companies are finally hitting their stride in finding practical uses for Internet technologies, according to a recent “Emerging Strategies in Insurance & Technology” survey sponsored by IVANS...
Federal Government, Insurers Debate Plan to Cover Future Terrorist Acts
Oct 29 2001 // The push is on for creation of a federal plan to deal with future terrorist attacks. The Bush Administration has come up with an alternative to the insurance industry’s initial proposal, which called for a terrorist...
Commercial Insurance Market Index Shows Evidence of Hardening Market
Oct 26 2001 // According to the recently released third-quarter Commercial Insurance Market Index — reflecting market observations of the largest commercial insurance brokers across the nation — commercial insurance premium...
A.M. Best Maintains Negative Outlook on SAFECO’s P/C Subsidiaries
Oct 25 2001 // In response to SAFECO’s recently announced loss reserve strengthening, A.M. Best Co. continues to maintain a negative outlook on the property/casualty operations’ financial strength rating of...
Hiscox Increases WTC Loss Estimates to
Oct 22 2001 // U.K. insurer Hiscox plc, which operates in the Lloyd’s market and independently, announced that it now expects net losses from the September 11 attacks on the U.S. to total around £30 ($43.5 million) rather...
Federal Government Proposes Plan to Help Cover Future Terrorist Attacks
Oct 22 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
Federal Government Proposes New Plan to Help Cover Future Terrorist Attacks
Oct 18 2001 // The Bush Administration has come up with an alternative to the insurance industry’s proposal for a terrorist risk pool in the event of further attacks. On Oct. 15, the White House proposed a plan that would divide...
IVANS Survey Finds Insurers Just Hitting Their Stride with Web
Oct 18 2001 // Even as “new economy” hype is receding into memory, insurance companies are finally hitting their stride in finding practical uses for Internet technologies, according to a recent “Emerging Strategies in...
WCIRB Notes 19% Rise in Rates for First Half
Oct 16 2001 // On Oct. 8, the Workers’ Compensation Insurance Rating Bureau (WCIRB) released its summary of mid-year California workers’ compensation results, with the report showing that the average charged insurer rates for...
IPC Holdings Increases Terror Loss Estimates to $95 Million
Oct 15 2001 // Bermuda-based IPC Holdings, Ltd., which is controlled by American International Group, increased its estimated impact of losses from the attacks of September 11 from $75 million to $95 million, “based on updated...
