IT'S STILL THE SAME OLD STORY
The Alliance of American Insurers predicts that residual market underwriting losses and insolvency assessments may exceed $1 billion for the fourth year in a row. The auto residual markets are the most expensive with underwriting losses estimated at $1,113,800,000. Auto shared market losses exceed the total for all residual markets and insolvency assessments because the workers compensation residual market recorded substantial underwriting profits. The workers compensation residual markets recorded an underwriting gain of $130.9 million. This is the result of a $249.8 million reduction in the pool's ultimate liabilities as a result of the Black Lung Benefits Reform Act of 1981. Underwriting losses for FAIR Plans amounted to $62 million, and Beach and Windstorm Plans showed a statutory underwriting gain of $15.1 million. Assessments for insurance company insolvencies dropped 35 percent. State by state results for 1981 residual market underwriting losses and insolvency investment for 1981 may be obtained from the publication, "A Study of 1981 Residual Markets and Insolvency Assessments: Their Impact on Property Casualty Insurers."
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Corporate Authors:
Alliance of American Insurers
20 North Wacker Drive
Chicago, IL United States 60606 - Publication Date: 1983
Media Info
- Features: Figures;
- Pagination: p. 29-32
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Serial:
- JOURNAL OF AMERICAN INSURANCE
- Issue Number: 2
Subject/Index Terms
- TRT Terms: Insurance industry; Losses; Markets; Profits; Workers compensation
- Old TRIS Terms: Residual markets; Underwriting
- Subject Areas: Safety and Human Factors;
Filing Info
- Accession Number: 00386843
- Record Type: Publication
- Source Agency: National Highway Traffic Safety Administration
- Report/Paper Numbers: HS-036 289
- Files: HSL, USDOT
- Created Date: Jul 30 1984 12:00AM