Insolvencies Up In 02; Trend Could Continue The number of property-casualty insurance failures has jumped in the past year despite the hardening pricing environment, according to two separate studies by A.M. Best Co. and Standard & Poor’s Ratings Services.

The S&P study identified 39 failed insurers last year, with 28 on the p-c side, up from 24 p-c failures in 2001.

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