|
|
Article: Surety writers cautious about 1992. (California & the Western States supplement)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- April 6, 1992
- Author:
CopyrightCOPYRIGHT 1992 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Despite a lingering recession, dismal performances by both the construction and banking industries and plummeting tax revenues for all level of government, Western surety writers managed to hold their own in 1991.
But with analysts predicting the recession is likely to be longer and deeper in California than elsewhere in the nation, industry insiders warn that 1992 could prove a difficult year for surety companies in general--and for California writers in particular.
The sort of grim economic figures that send surety company executives dashing for Maalox appeared on virtually every front in 1991:
* Construction spending in the U.S. fell 9.3 ...