All the headlines from our Underwriting Topic Page, ordered by recency.
Jan 28 2002 // Early in 2000, insurance prices started doing something they had not done in almost 15 years. They began to increase, and they kept growing at a modest pace into the third quarter of 2001, when the events of September 11...
Jan 23 2002 // Proposed laws that severely limit or ban the use of credit-based insurance scoring-which could result in higher rates for most consumers — are gaining momentum in the Indiana Legislature.Senate Bill 409, which would...
Jan 14 2002 // A California man pled guilty to knowingly receiving, possessing and without authorization appropriating stolen trade secret information belonging to his former employer—specifically, customer and order information in...
Jan 3 2002 // Chicago-based Hub International Limited (Hub) announced an agreement to sell its underwriting subsidiaries, Old Lyme Insurance Company of Rhode Island Inc. and Old Lyme Insurance Company, Ltd. (Old Lyme) to Fairfax Inc....
Dec 28 2001 // The Board of Directors of the National Association of Mutual Insurance Companies (NAMIC) has endorsed the use of a consumer’s credit history by property/casualty insurers to help them make underwriting, marketing and...
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the FutureThis is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth, for...
Dec 12 2001 // Julian James, Lloyd’s Director of Worldwide Markets, speaking at a conference in Paris, warned that marine underwriters should rethink and restructure the way they they write risks, as bigger vessels, more passengers...
Dec 12 2001 // The use of credit-based insurance scores in underwriting and rating is an actuarially sound practice that carries benefits and responsibilities for insurers and consumers alike, the American Insurance Association said at...
Dec 10 2001 // Owners of ski retail and rental shops and ski resorts may see some tougher conditions this year, as the ski insurance industry faces the overall hardening of the property/casualty market. More scrutiny in underwriting and...
Nov 27 2001 // Kansas-based Planet Salvage, Inc., an online marketplace for the automotive recycled parts and salvage vehicle industries, announced that the company has signed a one-year contract with Universal Underwriters Group (UUG),...
Nov 19 2001 // Ohio-based Insurer Progressive Corp. said its underwriting performance – measured as the ratio of claims paid out to premiums received – improved for the month of October compared with last year. Progressive,...
Nov 15 2001 // In a letter to shareholders posted on Nov. 9, Warren Buffett did his best to explain to shareholders the recent unprecedented loss at Berkshire Hathaway Inc., calling the results of the third quarter “anything but...
Nov 5 2001 // Standard & Poor’s recently announced that reinsurers are reducing their emphasis on long-standing client relationships and adopting a more clinical approach to underwriting, as both the insurance and reinsurance...
Nov 5 2001 // Major reinsurer Swiss Re released findings from its latest sigma study, “Profitability of the Non-Life Insurance Industry: It’s Back to Basics Time,” which showed that the slumping non-life insurance...
Nov 2 2001 // Underwriters at Lloyd’s of London and London Market insurance companies won an important reinsurance case recently when the New York Court of Appeals ruled that Travelers Casualty & Surety Company could not...
Oct 31 2001 // Chicago-based CNA Surety Corporation reported net income for the third quarter of $12.0 million, or 28 cents per share, compared to $13.3 million, or 31 cents per share, for the comparable quarter in 2000.Operating...
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Oct 23 2001 // SAFECO reported third-quarter income, before charges, of $7.8 million or $0.06 per diluted share. Including $240 million in reserve strengthening and previously announced restructuring charges, SAFECO posted a net...
Oct 16 2001 // Aon Corporation will expand its underwriting operations to include direct property and casualty insurance and reinsurance policies, the company announced on Oct. 12. This coverage will be provided in addition to existing...