For the past decade, the surety market has been profitable and today, competition remains strong. Underwriters come and go while the economy plays a major role in this segment of the industry. Even with big losses in 1999, the surety …
Strap the skis to the roof rack and throw the chains on the tires-it’s time to head to the mountains. For avid skiers, “weekend warriors” and “flatlanders” alike, the winter months mean long, perfect days of groomed trails, bumps and …
Fremont General Corp. and related entities are now under the increased regulatory oversight of the California Department of Insurance (CDI), and the three big rating organizations are not taking this as a good sign. A.M. Best Co., Standard & Poor’s, …
On Nov. 17, the U.S. Office of Thrift Supervision (OTS) cleared an application by the Independent Insurance Agents of America (IIAA) and W.R. Berkley Corp. to establish a new federal thrift by the name of InsurBanc. The regulatory action comes …
On Nov. 17, the U.S. Office of Thrift Supervision (OTS) cleared an application by the Independent Insurance Agents of America (IIAA) and W.R. Berkley Corp. to establish a new federal thrift by the name of InsurBanc. The regulatory action comes …
“Make no mistake about it—we are at war right now,” John Amore, CEO of Zurich U.S. Specialties, told a roomful of 600+ attendees during the general session of the 52nd Annual Golden Gate Chapter CPCU All Industry Day, held Nov. …
After taking a small step backward last quarter with disappointing results, Seattle-based Safeco reported better-than-expected earnings for the third quarter of 2000. According to Boh Dickey, president and chief operating officer, the company expects even better underwriting results over the …
When retail agents or brokers cannot find coverage for a unique or high-risk insured with a company in the standard or admitted market, they often turn to the surplus lines—or excess and surplus (E&S)—market for answers. During 1999, the surplus …
The 1990s were a time of turbulence for businesses as employers faced corporate restructuring, seasonal layoffs and reductions in force. The changing workplace relationships brought about both an increase in age discrimination cases and an increase in the need for …
U.S. property/casualty insurers recently received good news from the Insurance Services Office Inc.’s (ISO) Property Claim Services (PCS) unit. Third-quarter insured catastrophe losses registered at $315 million—the lowest amount in 11 years beginning in 1990. “We have been very fortunate—especially …
