o Top 20 Groups: United States Liability Insurance Group figures

In the July 21 issue of National Underwriter magazine, negative net written premium figures for 2007 were shown for three companies of United States Liability Insurance Group, a specialty insurance group, on NU's Top 20 Insurance Groups ranking.

The three companies are United States Liability Insurance Company, Mount Vernon Fire Insurance Company and U.S. Underwriters Insurance Company, which are part of Berkshire-Hathaway Insurance Group, the sixth largest group shown on page 16.

After our figures were published (based on financial information from statutory filings compiled by Highline Data), Diane Duda, senior vice president and chief actuarial officer of United States Liability Insurance Group, offered clarifying information to NU and customers of the specialty insurance group to explain the negative premium figures, which also distorted the reported combined ratios.

She noted that the 2007 financial measures for the three companies were "distorted due to the impact of transactions with affiliate National Indemnity Company, intended to facilitate the centralization of cash assets for the Berkshire Hathaway group," explaining that the transactions included a loss portfolio transfer and a quota share reinsurance agreement.

According to Ms. Duda, excluding the distorting impact of one-time entries, the statistics displayed in the article for the three members of United States Liability Insurance Group together would be 2007 net premiums written of $175.9 million and a combined ratio of 79.5.

o D&O Workout Chart

In the June edition of E&S/Specialty Lines Extra, some readers who received an early edition of the newsletter were not able to link to a chart accompanying the article, "D&O 'Workouts' Leave Insureds Fighting Their Way Up Towers Of Coverage."

Others saw a chart with an incorrect title and description, referring to a $40 million settlement.

The accurate chart is now attached describing the workout of a $50 million settlement. The complete article and revised chart are still available by clicking this link:

http://www.propertyandcasualtyinsurancenews.com/cms/nupc/Weekly%20Issues/issues/2008/25/E%20and%20S%20Extra/JUNE-XSDANDO--ss?origin=E%20and%20S-Specialty%20Markets

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.