Homeowners - beyond catastrophes: homeowners insurance should be a much more profitable business than current performance indicates

Article Abstract:

Homeowners insurance has performed much more poorly than every other major line of insurance from 1977 to 1996 and also from 1987 to 1996, even when the unusually heavy losses for 1992 and 1994 are omitted from the analysis. Homeowners lines have still underperformed when all catastrophe losses are excluded. Reasons for underperformance include a failure to keep pace with increasing construction costs, enhanced coverage packages, and poor pricing strategies because of inconsistencies between relativity curves and expected costs.

Direct Property and Casualty Insurance Carriers, Fire & Theft Insurance, Economic aspects, Property and casualty insurance industry, Business insurance, Homeowners' insurance

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IVANS: a vigorous decade; dynamic growth in the face of adversity has propelled the industry's electronic communications network into its second decade of operation

Article Abstract:

Insurance Value Added Network Services (IVANS), which is celebrating its 10th anniversary, offers property and casualty insurance companies efficient, low-cost electronic communications. IVANS was conceived by the Stanford Research Institute, and it began operations in 1983. Although this value-added network provided interactive communications and batch transmission services, insurers were reluctant to adopt the technology. IVANS was made more accessible to the industry, and by 1992 it supported 45,000 users.

Computer networks, History, Telecommunications systems, Property and casualty insurance

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