Insolvencies Up In 02; Trend Could Continue Thenumber of property-casualty insurance failures has jumped in thepast year despite the hardening pricing environment, according totwo separate studies by A.M. Best Co. and Standard & Poor'sRatings Services.

The S&P study identified 39 failed insurers last year, with28 on the p-c side, up from 24 p-c failures in 2001.

The A.M. Best report, using slightly different criteria, said 38p-c insurers were placed either under regulatory supervision orinto liquidation last year, compared to 30 in each of the two prioryears, 2001 and 2000.

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