A year of modest premium growth: competition in the property/casualty market held 1996 premium growth to 3.6%

Article Abstract:

The property/casualty insurance industry registered a measly 3.6% growth in 1996 most of which came about in the fourth quarter. The 10 largest property/casualty insurers wrote a total of $111.81 billion in net premiums which is a 7.7% increase from 1995's $103.82 billion. State Farm Group, which still dominated the industry with a 3.8% increase in premiums, comprised 13% of the industry's total writings. Allstate Insurance Group was again ranked second with a total increase in net premiums of 1.6% from 1995.

Industry Overview, Evaluation, Property and casualty insurance industry

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Footnote 24 ushers in new era of A&E liability disclosure

Article Abstract:

The National Association of Insurance Commissioners has instituted a new annual statement disclosure requirement for asbestos and environmental (A&E) liabilities. Footnote 24 requires property and liability insurers to disclose a five-year history of A&E claim payments and reserves. Rating agency scrutiny, ownership changes and competitive market pressures contributed to the development of Footnote 24.

Laws, regulations and rules, Insurance industry, National Association of Insurance Commissioners

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