Homeowners Premiums Rose Slightly in 2000, A.M. Best Study Says

Overall, the industry reported a 6.6 percent increase in direct premiums for homeowners multiperil insurance from 1999 to 2000, according to a new A.M. Best Statistical Study.

The top 10 writers of homeowners multiperil stayed the same during this period. Those top writers by direct premiums were: State Farm Group, Allstate Insurance Group, Zurich/Farmers Group, Nationwide Group, Travelers/Citigroup Co., USAA Group, Chubb Group of Insurance Cos., SAFECO Insurance Cos., American Family Insurance Group and Liberty Mutual Insurance Cos.

A.M. Best reported that the top 100 writers reported a slightly higher increase of 7 percent. Both increases were greater than reported in 1999, which Best said reflects continued gradual increases in the homeowners market–where results have been poor for years–as well as initiatives to improve insurance-to-value.

For a complete copy of the study, contact www.ambest.org.