INSURANCE CO. FAILURES UP

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.

Topics Colorado