Insurance premium distribution - 1991
Article Abstract:
The property and casualty insurance industry experienced a net income increase of 31% in 1991, earning $14 billion. But this increase is attributable to gains from capital investment, not to an increase in premiums written. Direct premiums written increased by only 2% to $229 billion, due to a sharp decline in workers compensation business. More significantly, declines occurred in two of the industry's most profitable areas: general liability and commercial multiple peril. Declines in these two areas have had an adverse effect on national agency writers.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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1991 property insurance and inland marine
Article Abstract:
High combined ratios and sluggish premium growth plagued property and inland marine insurers in 1991. The greatest underwriting loss - 30% - occurred in homeowner and commercial multiple peril lines. Since 1987, underwriting losses for homeowners insurance have increased steadily. 1991 statistics indicate that the disparity in loss ratios and premium growth for agency and direct writers is also increasing. Statistics for homeowners, commercial multiple peril, fire, allied and inland marine lines are provided, broken down by state.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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An excessive claim trail
Article Abstract:
Workers' compensation insurance often covers large periods of time, which makes calculating losses difficult for casualty insurers, according to a Workers Compensation Reinsurance Bureau report. The report found that 50% of workers' compensation claims are reported within five years. In addition, workers' compensation coverage tends to have a long claims-tail. For example, some insurers are still paying workers' compensation claims after 80 years.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
User Contributions:
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