Homeowners Insurers Still Losing Money
NU Online News Service, March 19, 2:34 p.m. EST? A brokerage firm's study of the homeowners insurance market has found, despite substantial premium rate hikes and stricter underwriting, insurers' results still fall short of the cost of capital.
The report by Chicago-based Aon Corp. subsidiary Aon Re Worldwide said the homeowners insurance industry is estimated to have increased its rates by 8 percent since its initial May-June 2002 study. The average hike for new rate filings in the last six months was 12.5 percent, the study said.
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