Storm clouds ahead for buyers
Article Abstract:
The weak 1992 property and casualty insurance market will lead to increased market segmentation, increased expense control, more research into financial conditions of insurers and continued development of alternative market facilities. Catastrophic losses from 1989 to 1991, such as the estimated $1.2 billion Oakland Hills fire in 1991, have contributed to the soft market. Also, with overall reserves estimated to be 8% deficient, increasing insurer insolvencies may greatly impact guaranty fund assessments.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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No cause for optimism
Article Abstract:
A survey of 60 property and casualty insurance company CEOs by Dieckmann and Associates revealed that 38% expect no significant change in financial results for 1992, while 40% expect the results to be worse than in 1991. The majority of the respondents plan to downsize if business does not improve. Additionally, acquisition activity and computerization are expected to increase.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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Executives speak out
Article Abstract:
Six leading property and casualty insurance executives offer their opinions about the state of the industry. Topics include overregulation, federal vs. state regulation, the need for insurers to discipline themselves, corporate restructuring, solvency regulation, and the fallacy of using cycle management to determine capitalization requirements.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1992
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