Fierce competition in product liability
Article Abstract:
The product liability insurance market is very healthy at present, according to industry experts, and is likely to continue so into the foreseeable future. Demand in the market is fueled by low prices and high capacity, leading to intense competition among insurers. Factors that may affect the business' future include the North American Free Trade Agreement and the current push for tort reform. The product liability market is lead by American Insurance Group, with a 10.9% share in 1994 and annual premiums of $192 million.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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Is the industry courting disaster?
Article Abstract:
The numerous natural disasters that have hit certain parts of the US have reduced the willingness of insurance companies to offer property coverage in these areas. National regulation is needed to provide a safety net. One bill being proposed is the Natural Disaster Protection Partnership Act that would set up a corporation to administer a tax-exempt fund, financed by premiums. In the event of a catastrophe that drains the fund, the government would provide a loan to the corporation.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
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EIL is poised for growth
Article Abstract:
The market for environmental impairment liability (EIL) insurance seems to be ready for significant growth as prices and adequacy are more favorable for both insurers and insureds. EIL insurance provides site-specific coverage for waste treatment and storage facilities and landfills. Some insurers offer additional environmental coverage for errors and omissions, professional liability and other risks. EIL products from several insurers are compared.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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