Fitch Ratings reports that the commercial line and reinsurance sectors of the domestic property and casualty industry faces greater uncertainty than personal lines, according to a new report published by the ratings agency. In its report, Fitch said its outlook …
Despite the property and casualty industry’s best efforts to have rates keep pace with losses, results are deteriorating, according to new study by Conning Research & Consulting Inc. In fact, Conning estimates that the reserve deficiency has more than doubled …
The Arkansas business community is behind a tort reform effort and the introduction of a bill that many believe will help restore rationality to the state’s tort system. According to the National Association of Independent Insurers (NAII), which helped draft …
More than 350 of the state’s most progressive and influential agency principals and managers will gather for the Independent Insurance Agents of Texas’ Joe Vincent Management Seminar & Big I Legislative Day on Feb. 2-4 at the Renaissance Austin Hotel. …
Texas Insurance Commissioner Jose Montemayor has officially launched the Texas FAIR (Fair Access to Insurance Requirements) Plan Association’s homeowners insurance market-of-last-resort in Texas. As of Jan. 8, the FAIR Plan had 450 insurance agencies ready to sell policies to Texas …
Even being in business for over 90 years doesn’t seem to assure financial stability these days. 2002 was not a good year for the Chicago-based Kemper Group, headed by Lumbermens Mutual Casualty Company, a leading writer of workers’ compensation coverage, …
For the past seven years, the Insurance Journal has published the annual Directory of Excess, Surplus and Specialty Markets. This issue is a resource for independent agents and brokers to help them find the markets they need. The print edition …
If you are a commercial insurance broker in California, you know first-hand the frustration and concern of your customers when you offer quotes for workers’ compensation coverage. Average employers with good claims history are seeing 40 to 60 percent increases …
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 …
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 …
