Las Vegas–Fierce competition and catastrophe losses are forcing change across the property-casualty insurance industry with business going to the technological "haves," the head of Insurance Services Office told an industry conference here.

Frank J. Coyne, chairman, president and chief executive officer of Jersey City, N.J.-based ISO, made his remarks at the annual ISOtech technology meeting attended by 800 persons.

Mr. Coyne said stiff competition has driven rates of return down and led to an increase in the number of insolvencies, while inflation, population growth and economic development beside hurricane-prone coastlines ensure ever-rising catastrophe losses.

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