News Archives - Page 2893 of 3064 - Canadian Underwriter

Royal & Sun parent loses A rating from Fitch

Rating agency Fitch’s has downgraded the financial strength of U.K.-based Royal & SunAlliance Insurance plc (RSAIP) from A- to BBB+. The company’s long-term rating was also lowered to BBB- from BBB, and its junior subordinated debt to BB+ from BBB-.This follows the group’s ratings being lowered with a “negative outlook” in mid-November of last year. […]

By Canadian Underwriter | February 25, 2003

1 min read

Risk

U.S. terrorism backstop failing, says Conning study

The U.S. Terrorism Risk Insurance Act of 2002 (TRIA) is failing to address the long-term issue of terrorism risk, says a new study by Conning Research & Consulting Inc. The study speculates that not only does the act not address why terrorism is so difficult to underwrite, but insurers may also be distracted from finding […]

By Canadian Underwriter | February 24, 2003

2 min read

Risk

Cost of risk puts pressure on small companies

The cost of risk, including insurance, is about US$2.45 for every US$1,000 of revenue, says a new study from Marsh Inc. The study of U.S. companies also found that this cost varies dramatically depending on the size of the business, with smaller companies paying as much as 11-times more than larger corporations.Among the risks accounted […]

By Canadian Underwriter | February 21, 2003

2 min read

Claims

U.S. tort costs up sharply: Tillinghast study

Not surprisingly, tort costs in the U.S. are increasing sharply, as indicated in a new study by Tillinghast-Towers Perrin. In 2001, the U.S. tort system cost US$205 billion, or US$721 per capita. This is a 14.3% increase over the year prior and represents costs equivalent to a 5% tax on wages.Tillinghast has tracked tort costs […]

By Canadian Underwriter | February 20, 2003

2 min read