Latest Underwriting Headlines
All the headlines from our Underwriting Topic Page, ordered by recency.
Twenty-One States Introduce Bills to Ban, Restrict Use of Credit-Based Scoring
Feb 15 2002 // As of Feb. 12, 2002, 21 states have introduced bills that would ban or restrict the use of credit-based insurance scoring according to the National Association of Independent Insurers. On Feb. 13, the Minnesota House...
CNA Surety Announces 4Q Decrease in Net Income
Feb 12 2002 // CNA Surety Corporation reported that net income for the fourth quarter of 2001 decreased to $0.6 million, or $0.01 per share, from $12.0 million, or $0.28 per share, for the same period in 2000. Operating earnings, after...
Commercial Auto Agents: Between a Rock and a Hard Market
Feb 11 2002 // The cyclical ups and downs of the multisegmented arena referred to collectively as commercial auto are nothing new. Though the years referred to as “soft” and “hard” vary in both length and...
Before Diving in, Agents Attracted by Captive Profits Must Analyze Challenges
Feb 11 2002 // Thinking of forming an agency captive? An agent-owned captive insurance company involves an agency capitalizing either a domestic insurance company or an offshore insurance company. Richard Turner, president of...
Building Profitability into the Commercial Auto Market
Feb 11 2002 // Like most property and casualty insurance lines, the commercial auto insurance market has witnessed rate increases over the past year and expects to see more. And, as in other lines, underwriters are scrutinizing accounts...
NAII Stresses Legal, Competitive Reasons for Use of Credit Information
Feb 4 2002 // Insurance scores provide companies an objective and unbiased underwriting tool, Sam Sorich, vice president and western regional manager of the National Association of Independent Insurers (NAII) explained last week during...
Bill Restricting Credit-Based Scores Would Cause ‘Staggering’ Premium Hike
Feb 1 2002 // According to the National Association of Independent Insurers (NAII), pricing restrictions in pending legislation on insurers’ use of credit-based insurance scores would require low-risk consumers to pay...
Converium to Underwrite Midwest Crop Coverage
Jan 31 2002 // Switzerland’s Converium Holding Ltd. announced that its U.S. subsidiary Converium Insurance (North America) Inc. (formerly ZC Insurance Company) has reached an agreement with Crop 1 Insurance of Des Moines, Iowa to...
E&S Lines Basking in the Warm Glow of a Hard Market
Jan 28 2002 // Early in 2000, insurance prices started doing something they had not done in almost 15 years. They began to increase, and they kept growing at a modest pace into the third quarter of 2001, when the events of September 11...
When Good Employees Go Bad: Crime Insurance for Employee Dishonesty & Fraud
Jan 28 2002 // • A California man pled guilty to knowingly receiving, possessing and without authorization appropriating stolen trade secret information belonging to his former employer—specifically, customer and order information in...
E&S Lines Basking in the Warm Glow of a
Jan 28 2002 // Early in 2000, insurance prices started doing something they had not done in almost 15 years. They began to increase, and they kept growing at a modest pace into the third quarter of 2001, when the events of September 11...
NAII Says 4 Ind. Bills Would Unfairly Hamper Insurance Scoring Practices
Jan 23 2002 // Proposed laws that severely limit or ban the use of credit-based insurance scoring-which could result in higher rates for most consumers — are gaining momentum in the Indiana Legislature. Senate Bill 409, which would...
When Good Employees Go Bad: Crime Insurance for Employee Dishonesty & Fraud
Jan 14 2002 // A California man pled guilty to knowingly receiving, possessing and without authorization appropriating stolen trade secret information belonging to his former employer—specifically, customer and order information in...
Hub International to Sell Units
Jan 3 2002 // Chicago-based Hub International Limited (Hub) announced an agreement to sell its underwriting subsidiaries, Old Lyme Insurance Company of Rhode Island Inc. and Old Lyme Insurance Company, Ltd. (Old Lyme) to Fairfax Inc....
NAMIC Board Endorses Insurance Scoring Methods
Dec 28 2001 // The Board of Directors of the National Association of Mutual Insurance Companies (NAMIC) has endorsed the use of a consumer’s credit history by property/casualty insurers to help them make underwriting, marketing and...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
Lloyd’s Warns of Greater Exposures for Marine Underwriters
Dec 12 2001 // Julian James, Lloyd’s Director of Worldwide Markets, speaking at a conference in Paris, warned that marine underwriters should rethink and restructure the way they they write risks, as bigger vessels, more passengers...
AIA Supports Credit-Based Insurance Scores in Underwriting and Rating
Dec 12 2001 // The use of credit-based insurance scores in underwriting and rating is an actuarially sound practice that carries benefits and responsibilities for insurers and consumers alike, the American Insurance Association said at...
Growing Market for Ski Insurance Faces Some Slippery Slopes
Dec 10 2001 // Owners of ski retail and rental shops and ski resorts may see some tougher conditions this year, as the ski insurance industry faces the overall hardening of the property/casualty market. More scrutiny in underwriting and...
