In the face of a slowing economy and stiff competition, 35 insurance companies failed in 2000, a 30 percent increase over the 27 failures recorded in 1999, according to Weiss Ratings Inc., an independent provider of ratings and analyses on the insurance industry. Property/casualty insurers represented a disproportionate 27 of the 35 insurance company failures last year. All told, there were 53 insurance company and HMO failures in 2000. The largest failed companies were: Fremont Indemnity Company, Harvard Pilgrim Health Care Inc., Fremont Industrial Indemnity Co., Fremont Casualty Ins. Co. and California Compensation Insurance Co.
Was this article valuable?
Here are more articles you may enjoy.
Pacific Life Seeks to Dismiss Kyle Busch’s $8.5M Lawsuit Over Insurance Policies 
Navigators Can’t Parse ‘Additional Insured’ Policy Wording in Georgia Explosion Case 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
LA Fire Survivors Got a Rude Surprise That Could Hit More Americans From This Issue
