National Underwriter P&C January-04, 2010
Cover Story
P&C Industry Braces For Difficult Decade
We made it! This exceedingly volatile, outrageously expensive and mercilessly cruel first decade of the new millennium careened to a chaotic close and somehow the property and casualty insurance industry crossed the finish line more or less intact.
Opinion
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Top-10 Stories Of 2010!
Last week, I reassessed my fortune-telling ability in picking the Top-10 stories for 2009. Now it's time to peer into my crystal ball once again to forecast what might be in store for 2010.
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Reform Initiatives Will Make 2010 Challenging For Insurers
As we bid adieu to 2009, many in the insurance industry are looking to the new year with greater optimism than they might have thought possible this time last year.
News
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P&C Insurers See Dramatic Turnaround In Net Income, But Warning Signs Abound
The property and casualty insurance industry's consolidated net income through the first three quarters of 2009 improved dramatically, although association leaders warn there remain plenty of reasons for concern.
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Progress Reported On Fin'l Services Reform
While battles over health care reform got most of the headlines here this month, Congress tackled a host of other issues of keen interest to property and casualty insurers and producers.
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Insurers, Producers Focus On Washington As Key To Their Regulatory Future In 2010
Shaping health care and financial services regulatory reform legislation to the interests of their members will keep property and casualty insurance lobbyists busy throughout 2010.
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Woods' Woes Help Market New Coverage
The revelations surrounding Tiger Woods' infidelities have helped one broker promote a new coverage aimed at organizations that built their branding campaigns around a celebrity whose reputation becomes tainted.
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Claims Satisfaction High, Though Auto Tops Homeowners
Auto insurance customers are typically more satisfied with their claims experience than are homeowner policyholders--although personal lines carriers in general rank higher on service than do players in other industries.
Market Report
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Big Shakeups, Consolidation For Insurers Seen Due To Tougher Regulatory Climate
The insurance industry will undergo increasing consolidation as part of the fallout from government intervention and potential tax law changes following the financial crisis, a top consulting firm predicts.
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Analysts Don't Expect Quick Turnaround In 2010 Property-Casualty Premium Rates
The property and casualty insurance industry is expected to see an underwriting loss for 2009, with no let-up in the soft market through 2010--barring a substantial market shift, Fitch Ratings predicts.
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KBW Expects P&C Stock To Remain Flat For 2010
Disappointing returns on equity in the coming year may lead the property and casualty insurance industry to a quicker return to stiffer pricing, according to Keefe, Bruyette & Woods analysts.
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Slim Pickings For Services Industry Risks
The hardening market predicted to arrive by the end of 2009 failed to materialize for insurers writing services industry risks as competition remains fierce, forcing carriers to cut the prices on their coverage menus.
