Now that the Texas legislative session is underway and the pre-election rhetoric surrounding insurance reform in Texas has moderated, the stage is set for the legislature to make the tough decisions necessary to resolve the current insurance crisis. Going into …
In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the Terrorism Loss Estimation Model. AIR’s new probabilistic …
Due to the restricted coverages available in the market today, risk retention groups (RRGs) have experienced a significant amount of rapid growth over the past year. At a time when the industry is facing what is perhaps the most serious …
S&P’s assigned its “R” financial strength rating to Grange Mutual Insurance Co. (OR) (Grange Mutual) upon learning that the company filed for bankruptcy protection from the U.S. Bankruptcy Court for the District of Oregon. The company was granted permission from …
S&P’s lowered its counterparty credit and financial strength ratings on ARI Mutual Insurance Co. (ARIM) and its affiliate, ARI Casualty Co. (ARIC), to “Bpi” from “Bbpi.” ARIC operates under a reinsurance pooling arrangement. The group has “very weak operating performance, …
S&P’s lowered its counterparty credit and financial strength ratings on Traders Insurance Co. (Traders) to “Bpi” from “Bbpi.” The ratings agency lowered the company’s ratings based on “weak and volatile operating performance, limited operating scope, and decline in liquidity,” according …
Standard & Poor’s Rating Service affirmed its “A+” counterparty credit and financial strength ratings on W.R. Berkley Corp.’s operating companies. The “BBB+” counterparty credit and senior debt ratings and the “BBB-” preferred stock rating on W.R. Berkley Corp. were also …
On Dec. 31, 2001, the weighted average combined ratio of the 21 surplus lines insurance companies identified in the graphic was approximately 113 percent. By March 30, 2002, the weighted average combined ratio had declined to approximately 103 percent. By …
Stan Davis with the Ernst & Young think-tank has authored several excellent books, including Blur: The Speed of Change in the Connected Economy. In Blur, Davis paints a picture of a successful business that continues to add customers and build …
Property and casualty insurers suffered a staggering $6.6 billion decline in investment gains during the first six months of 2002, to $18.1 billion from $24.7 billion during the same period in 2001, according to Weiss Ratings Inc. Driving the decline …
