All the headlines from our Underwriting Topic Page, ordered by recency.
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
Apr 15 2003 // Trenwick Group Ltd. will cease underwriting reinsurance business under its previously announced underwriting facility with Chubb Re, Inc., a subsidiary of The Chubb Corporation. The underwriting facility, which began in...
Apr 11 2003 // W. R. Berkley Corporation announced the formation by its subsidiary, Admiral Insurance Company, of a new underwriting division. The new division, Admiral Excess Underwriters, will specialize in the underwriting of casualty...
Apr 9 2003 // A.M. Best Co. announced that it has downgraded the financial strength rating to B++ (Very Good) from A- (Excellent) of the U.K.’s Underwriter Insurance Company Limited, removed the rating from under review with...
Apr 7 2003 // The California Insurance Department’s draft advisory notice regarding insurance companies use of claims databases and loss history in underwriting and rating has far-reaching implications, oversteps its boundaries...
Apr 7 2003 // Credit scoring, CLUE reports become targets of Commissioner Garamendi’s IreThe hard market has hit California homeowners hard. State Farm, which had nearly 23 percent market share in the state in 2001 according to...
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery.In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Apr 7 2003 // Today, the California personal lines industry is at the peak of a down cycle that has adversely affected the homeowners’ insurance marketplace. The downturn began in 2000, and worsened after the Sept. 11 attack on...
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery.In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Apr 1 2003 // Platinum Underwriters Holdings, Ltd. announced that Justin Cressall has been appointed as Treasurer. He was formerly with KPMG LLP, where he held various positions serving the firm’s insurance, reinsurance and...
Mar 27 2003 // The Professional Insurance Agents of Connecticut Inc. has issued a statement urging the Connecticut General Assembly’s Insurance & Real Estate Committee to oppose Committee Bill No. 5490.The PIACT described the...
Mar 20 2003 // Infinity Property and Casualty Corporation of Birmingham, Ala. today reported earnings of its operations for the 2002 fourth quarter and full year as well as pro forma earnings as though Infinity had been a public company...
Mar 17 2003 // “Virginia’s 2003 legislative session ended with the softening of many bills that could have made it much more difficult for insurance companies to conduct business in the state,” said an announcement from...
Mar 13 2003 // Lloyd’s of London announced that Constance Curnow of Guy Carpenter and Gerald J. Sullivan of The Sullivan Group are the first brokers to win the Lloyd’s U.S. Broker Awards. The awards for U.S. Reinsurance...
Mar 13 2003 // Despite gains in three of its four business segments, San Antonio-based Argonaut Group said it posted a $105.3 million net loss for the fourth quarter 2002 and an $87.0 million net loss for the year. The 2002 net loss was...
Mar 11 2003 // Nebraska-based auto warranty and service contract insurer National Warranty Insurance Co. has been downgraded to “B++” (Very Good) from “A-” (Excellent) by A.M. Best & Co.The rating action...
Mar 11 2003 // A.M. Best Co. announced that it “has placed the financial strength rating of A- (Excellent) of The Underwriter Insurance Company Limited (TU), United Kingdom, under review with negative...
Mar 10 2003 // The world of directors & officers coverage may be hanging out signs these days or posting messages on the Internet that simply read—Wanted: Stability. That commodity has been extremely hard to come by in recent...
Mar 10 2003 // Unless you’ve been hiding under a rock somewhere for the past year or two, yes, we’re in the midst of a hardening market cycle. After a prolonged soft market period, prices seem to be firming in every segment,...
Mar 10 2003 // It is often said that every situation has a light at the end of the tunnel, but the employment practices liability scene may have to squint just a little harder to see those rays of hope while higher prices, more courtroom...