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Article: Property/casualty insurers: Ranked by 2001 direct statewide property/casualty premiums written. (The List).(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- July 8, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. 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)
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EXECUTIVE SUMMARY
IT'S hard to imagine that the Sept. 11 terrorist attack could be the source of anything positive, especially for the insurance industry, which is expected to have to cough up as much as $70 billion once all claims are settled.
But the attacks came as the industry was entering into one of its hardest markets in years. The result? Property and casualty insurers are hitting customers with big premium hikes. And making them stick.
The effect is being felt in California, where the Top 25 property and casualty insurers wrote $34 billion in property, auto and a variety of commercial policies last year, up from $29.2 billion in 2000.
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