|
|
Article: In brief.(growth in property and casualty insurance industry sales)(Oklahoma passes broad tort reforms)(IPC Holdings Ltd. was downgraded due to decrease in sales)
- Article from:
- Business Insurance
- Article date:
- April 23, 2007
CopyrightCOPYRIGHT 2007 Crain Communications, Inc. 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)
|
P/C insurers' income rises to $64 billion
Helped by low catastrophe losses, the U.S. property/casualty industry posted $63.7 billion in net income in 2006, up 44.3% compared with 2005, according to a report from Insurance Services Office Inc. and the Property Casualty Insurers Assn. of America. Insurers' combined ratio improved to 92.4% in 2006 from 100.9% in 2005, while net written premiums rose 4.3% to $443.78 billion.
Oklahoma passes broad tort reforms
Oklahoma's Legislature has sent Gov. Brad Henry a broad tort reform bill that would impose caps on punitive damages, provide guidelines for expert witness testimony, curb gunmaker and ...