2007 Results Cast Doubt On Near-Term Market Turn, Given Profitability Trend

Some don’t expect any significant uptick on pricing without $50B cat loss

July 21, 2008
BY SUSANNE SCLAFANE

With catastrophe losses mounting in the second quarter and the magnitude of premium rate declines easing, rumors of an end to the soft market began to creep into insurance news headlines this month. However, net written premiums and underwriting profit results for 2007 compiled for this edition of NU’s annual Top 100 ranking of the biggest property-casualty insurance companies and groups give little indication that any change will come soon.

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Three Insurance Reform Bills Clear Subcommittee; Full House Vote Looms

July 21, 2008
BY MATT BRADY

A House Financial Services Subcommittee has approved three key reform bills—two aimed at improving the insurance regulatory system, and the other increasing the availability of coverage by expanding access to risk retention groups.

Producer Groups, Carriers Push National Coverage Plan For Windstorms

July 21, 2008
BY MARK E. RUQUET AND PHIL GUSMAN

Two major producer groups and two leading property-casualty insurance carriers have banded together to ask Congress to promote a plan to spread coastal windstorm risks across state borders.