A.M. Best Co. affirmed the financial strength rating of “A” (excellent) of Seattle-based Safeco Ins. Cos. Concurrently, Best also affirmed the “bbb+” rating on Safeco’s existing senior debt and the “bbb” rating on its capital securities. Additionally, Best affirmed the …
A Colorado hailstorm left farmers and residents with damage amounting to millions of dollars, according to the Rocky Mountain Insurance Information Association. The insurance industry estimated that the hailstorms that battered communities from the Northeastern Plains down through Southern Colorado …
The Penn National Insurance Group is the newest member of the Property Casualty Insurers Association of America (PCI), the lobbying arm of the independent P/C insurance industry. Penn National is the 47th insurer to join the association since it was …
As 2002 fades from memory as the worst performance year by the Canadian property/casualty insurance industry, 2003, on the other hand, will be remembered for the industry’s return to underwriting profitability and strong earnings, according to a statistical study from …
The National Association of Mutual Insurance Companies has prepared and released a bulletin attacking efforts to apply the “disparate impact” legal standard to the use of credit-based insurance scores. The paper, which was also distributed by the American Insurance Association …
The U.S. property/casualty industry’s net income after taxes rose to $13.3 billion in first-quarter 2004 from $6.5 billion in first-quarter 2003 as insurers posted an underwriting profit for only the second time since the start of quarterly data going back …
Allenbrook Inc., a leading provider of processing software and consulting services for the P/C industry, and QAS, an international leader in address management software, have announced a partnership agreement aimed at offering insurance carriers “state-of-the-art address verification.” The bulletin indicated …
Property/casualty insurers are coming to grips with the fact that a government-sponsored terrorism insurance backstop could expire at the end of next year, which would send pricing shockwaves through the market. Carriers have become accustomed to easy access to terror …
Standard & Poor’s Credit Market Services has issued a report on the U.S. P/C industry, which notes that the rating agency is maintaining its negative rating outlook on this sector of the commercial insurance industry, due primarily to “reserve shortfalls” …
To regulate more or less? That was the question posed to the public by the people at the Harris Poll. Health insurance, managed care, pharmaceuticals and the oil industry top the list of industries the public feels need more regulation. …
