The U.S. property/casualty industry’s net income after taxes dropped 7.3 percent to $5.1 billion in first-quarter 2002 from $5.5 billion in first-quarter 2001, according to just released information from Insurance Services Office Inc. (ISO) and the National Association of Independent …
Thirty property/casualty insurers were declared insolvent in 2001, according to the special report, “P/C Industry—2001 Insolvencies,” just issued by A.M. Best Co. The same number of companies became insolvent in 2000, compared with seven insolvencies in 1999 and 18 in …
Applied Systems®, an automation solutions provider for the P/C industry, is making available a service that will prevent the critical data of an agency’s business from being lost or destroyed due to a disaster or catastrophe. The agency data is …
Applied Systems®, an automation solutions provider for the P/C industry, has added a text chat service called Online Real-Time to its service offerings. Online Real-Time allows customers to “chat” with a technician over the web for quick technical assistance. Tom …
In an effort to make the market conduct exam process more efficient, the P/C insurance industry has submitted a draft outline for a “Guide to Market Conduct Analysis” to the National Association of Insurance Commissioners (NAIC). The draft, developed by …
Rising household water damage claims have cost California insurers billions of dollars and are constricting the homeowners insurance market, according to a study done by the Insurance Information Network of California. The losses have increased dramatically in each of the …
Standard & Poor’s announced that its outlook on Japan’s non-life insurance industry remains negative following the release this week of insurers’ financial results for fiscal 2001. “Earnings continue to be pressured, while investment income remains weak due to low interest …
Orlando – “We cannot afford to pay another loss like 9/11.” Just one of the thoughts of Frank Coyne, president and CEO of Insurance Services Office (ISO), during a general sessions panel on the final day of the 2002 ACORD …
New Jersey-based Insurance Services Office, Inc. (ISO) has acquired Boston-based Applied Insurance Research (AIR), a leading provider of risk-assessment and management technology for all major natural hazards in the U.S. and 40 countries worldwide. The deal will allow ISO and …
After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002 showed generally rising premiums, and earnings increases. …
