Insurance News

Posts Tagged ‘quarter

Commercial property/casualty insurance rates dropped an average of 6.4% during the second quarter this year, according to the Council of Insurance Agents & Brokers? ?Commercial P/C Market Index Survey? released Monday.
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Large accounts, which the survey defines as generating more than $100,000 annually in fees and commissions, experienced the steepest decline at 8.9%, while small accounts generating less than $25,000 in Read the rest of this entry »

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The first quarter of 2010 likely will be the worst-ever first quarter for natural catastrophe losses, but it’s still not enough to turn the market on its own, a global reinsurance renewals report concluded Wednesday.

The ?unprecedented? $16 billion in insured first-quarter catastrophe losses, including the earthquake in Chile and Windstorm Xynthia in Europe, do not bode well for reinsurers because their largest losses are in smaller Read the rest of this entry »

The hardening market property insurance buyers faced in the first half of 2009 eased considerably in the third quarter, according to a report from Chicago-based brokerage Aon Corp.

During the first half of the year, property insurance rates increased on average between 4% and 5%, and more than 20% in some cases, Aon said in its quarterly market overview. But in the third quarter, rates flattened to an average increase of 0.2%, due to light Read the rest of this entry »

The average vehicle crash damage repair on an adjusted basis increased $164 in the third quarter, according to an electronic processing provider for the collision industry.

San Diego-based Mitchell International said in the third quarter average gross appraisal value for comprehensive coverage estimates processed through company servers was $2,468 compared to $2,356 in the same period for 2008.

Applying a development factor of 2.1 Read the rest of this entry »

Despite falling policyholder surplus, insurers continued to compete vigorously for business in the second quarter of 2009, according to the quarterly RIMS Benchmark Survey, produced by New York-based Advisen Ltd.

With the exception of directors and officers insurance premiums for financial services companies, average commercial insurance premiums continued to fall in the second quarter compared with the same period in 2008, the survey shows. Read the rest of this entry »

OLDWICK, N.J.?The U.S. property/casualty insurance industry’s first-quarter net income dropped 87% to $1.2 billion as underwriting losses and investment returns dragged down results, a rating agency said Friday.

Net income for commercial lines dropped 52.9% to $1.6 billion in the first quarter of this year compared with the same quarter last year, A.M. Best Co. Inc. said in a special report to be released Monday.

Net premiums Read the rest of this entry »