Signs of stress: Sept. 11, rising medical expenses and increased litigation are driving up workers' comp claims costs, causing insurers to review premiums and underwriting. (Property/Casualty: Workers' Compensation).Workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. is one of the insurance lines hit especially hard by the catastrophe Catastrophe, from the Greek Καταστροφή (katastrephein), literally means "to turn" (strephein) "downwards" (kata-). at the World Trade Center. Insurers and self-insured self-insured Self fund Health insurance adjective Referring to the practice of carrying an individual health insurance policy for oneself; self insurance is usually more expensive than group insurance employers can expect to pay between $2 billion and $3 billion in workers' comp comp See comparison. claims as a result of Sept. 11, said Maurice R. Greenberg Maurice R. "Hank" Greenberg (born May 4, 1925 in New York City) is an American businessman and former chairman and CEO of American International Group (AIG), the world's largest insurance and financial services corporation. He is currently chairman and CEO of C.V. , chairman and chief executive officer of American International Group
American International Group, Inc. (AIG) (NYSE: AIG; TYO: 8685 ) is a major American insurance corporation based in New York City. Inc., in a June June: see month. opinion piece for the Washington Washington, town, England Washington, town (1991 pop. 48,856), Sunderland metropolitan district, NE England. Washington was designated one of the new towns in 1964 to alleviate overpopulation in the Tyneside-Wearside area. Post. The catastrophe and the resulting losses have raised new affordability and availability issues in this line of business. Workers' comp insurers are changing their outlook on the underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. of risk, collecting more detailed data from insureds with an eye to assessing aggregation of risk--meaning, a large concentration of employees, policyholders and lines at any one location. They also are sensitive to catastrophe exposures such as large airports, bridges, tunnels The following are lists of tunnels:
Multistory building taller than the maximum height people are willing to walk up, thus requiring vertical mechanical transportation. The introduction of safe passenger elevators made practical the erection of buildings more than four or five stories tall. and water treatment and storage systems, said the National Council on Compensation Insurance The National Council on Compensation Insurance (NCCI) is a U.S. insurance rating and data collection bureau specializing in workers' compensation. Operating with a not-for-profit philosophy and owned by its member insurers, NCCI annually collects data covering more than four . "Primary companies are still in a hard place," said Robert Farnam Robert E. Farnam (born 1877 - died ?) was an American rower who competed in the 1904 Summer Olympics. In 1904 he was won the gold medal in the coxless pairs. External link
2. issues while reinsurers can exclude terror risks." Reinsurers began excluding terrorism terrorism, the threat or use of violence, often against the civilian population, to achieve political or social ends, to intimidate opponents, or to publicize grievances. in January January: see month. , but state laws do not allow primary workers' comp insurers to do the same. Therefore, companies that present a greater risk in this regard are likely to face strict underwriting reviews and higher price increases where possible. In some cases, their carriers may have declined coverage altogether, possibly forcing them to buy coverage in state-mandated residual Residual See:Residual value markets--the insurance pools that must sell coverage to any employer who can't find it through private companies. Rising Costs, Rates Sept. 11, the worst workers' comp disaster in U.S. history, rocked the market after years of deteriorating de·te·ri·o·rate v. de·te·ri·o·rat·ed, de·te·ri·o·rat·ing, de·te·ri·o·rates v.tr. To diminish or impair in quality, character, or value: results. Claims costs had started to rise in 1995 and 1996, a fact hidden by under-reserving and the decrease in indemnity Recompense for loss, damage, or injuries; restitution or reimbursement. An indemnity contract arises when one individual takes on the obligation to pay for any loss or damage that has been or might be incurred by another individual. claim frequency, said Willis Wil·lis , Thomas 1621-1675. English anatomist and physician known for his studies of the nervous system and the brain. He discovered the circle of Willis at the base of the brain. Group Holdings in a February February: see month. 2002 report. By 2000, low-double-digit rate increases began cropping up in this insurance line. "Sept. 11 certainly made things worse," said John Dawson John Dawson is a name shared by several notable men, including:
n. pl. ac·tu·ar·ies A statistician who computes insurance risks and premiums. [Latin services group of Ernst & Young, Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. . "Companies have got their feet to the fire about the need to correct the premium. There were already signs that that was on the way before 9-11, but 911 has accelerated everything." Although frequency of claims has been declining since 1990-possibly driven by a continued focus on workplace safety, ergonomics ergonomics, the engineering science concerned with the physical and psychological relationship between machines and the people who use them. The ergonomicist takes an empirical approach to the study of human-machine interactions. and the performance of less manual work--it is expected to rise again, Farnam said. But he sees severity of claims as the major problem now. "Medical costs are increasing, and there are more litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. costs," Farnam said. "Severity is affecting medical and indemnity--both are turning higher." He estimates that the total deficiency A shortage or insufficiency. The amount by which federal Income Tax due exceeds the amount reported by the taxpayer on his or her return; also, the amount owed by a taxpayer who has not filed a return. in workers' comp reserves is approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $15 billion. NCCI NCCI National Council on Compensation Insurance (Boca Raton, FL) NCCI National Correct Coding Initiative NCCI National Company for Cooperative Insurance NCCI Namibian Chamber of Commerce and Industry says that indemnity costs nationwide have been increasing at least 6% a year and medical costs have been rising 6.7% a year. After four to five years of deteriorating underwriting results, insurers need to refocus Verb 1. refocus - focus once again; The physicist refocused the light beam" focus - cause to converge on or toward a central point; "Focus the light on this image" 2. on underwriting, because their assets are decreasing, Farnam said. This will be especially challenging since workers' comp insurers that make underwriting profits Underwriting profit is a term used in the insurance industry. It consists of the earned premium remaining after losses have been paid and administrative expenses have been deducted. It does not include any investment income earned on held premiums. have been few and far between, noted Gordon Gordon, river in W Tasmania, Australia, 125 mi (200 km) long. Flowing from mountains to the W coast, its main tributaries are the Franklin and Denison from the N, and Serpentine and Olga to the S. McLean McLean, city (1990 pop. 38,168), Fairfax co., N Va., a suburb of Washington, D.C. Manufacturing includes foods, satellite components, and computer and telecommunications equipment. , an analyst in A.M. Best Co.'s property/casualty division. These insurers have had to "support operations through investment income," he added. California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Crisis In California, the workers' comp market is in crisis. Conditions there have been turbulent since 1995, when the state went to an open rating system with insurers no longer needing regulatory reg·u·late tr.v. reg·u·lat·ed, reg·u·lat·ing, reg·u·lates 1. To control or direct according to rule, principle, or law. 2. approval to raise or lower rates. Insurers responded by dropping prices to snare snare (snar) a wire loop for removing polyps and tumors by encircling them at the base and closing the loop. snare n. more market share. For a time, investment income made up the difference in unprofitable business, but then the downturn Downturn The transition point between a rising, expanding economy to a falling, contracting one. downturn A decline in security prices or economic activity following a period of rising or stable prices or activity. in the equity markets left many companies with weak balance sheets. In recent years, California has seen several of its largest workers' comp writers become insolvent INSOLVENT. This word has several meanings. It signifies a person whose estate is not sufficient to pay his debts. Civ. Code of Louisiana, art. 1980.. A person is also said to be insolvent, who is under a present inability to answer, in the ordinary course of business, the responsibility or pull out of the business. These include Superior National Insurance Co., Reliance Insurance Cos., Paula PAULA Possession of Alcohol Under the Legal Age Insurance Co. and Legion legion, large unit of the Roman army. It came into prominence c.400 B.C. It originally consisted of 3,000 to 4,000 men drawn into eight ranks: the first six ranks, called hoplites, were heavily armed, while the last two, called velites, were only lightly armed. Insurance Co. Fremont Fremont (frē`mŏnt). 1 City (1990 pop. 173,339), Alameda co., W Calif., on San Francisco Bay; inc. 1956. Long an agricultural center, with champagne vineyards founded (1870) by Leland Stanford, it still ships fruits and vegetables. General Corp., which is under regulatory supervision, said in March that it would exit the workers' comp business and give exclusive rights to acquire its ongoing business to Employers Insurance Company of Nevada Nevada (nəvăd`ə, –vä–), far western state of the United States. It is bordered by Utah (E), Arizona (SE), California (SW, W), and Oregon and Idaho (N). , a former Nevada state agency that was converted in 2000 into a private mutual insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. . Meanwhile, the competitive state fund, known as the State Compensation Insurance Fund The State Compensation Insurance Fund (SCIF or State Fund) is a workers' compensation insurer that is operated as a public enterprise created by the U.S. state of California. of California, has grown rapidly, doubling its premiums written in 2001 and now taking in an estimated 44% of the business in the state--making it the largest workers' comp writer in California. Fund officials maintain that the fund is solvent solvent, constituent of a solution that acts as a dissolving agent. In solutions of solids or gases in a liquid, the liquid is the solvent. In all other solutions (i.e. and hasn't has·n't Contraction of has not. hasn't has not hasn't have contributed to the disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. in the market. But the fund has fallen below the risk-based-capital level of the National Association of Insurance Commissioners The National Association of Insurance Commissioners (NAIC) is an Internal Revenue Code Section 501(c)(3) non-profit organization which seeks to organize the regulatory and supervisory efforts of the various state insurance commissioners from around the United States. . While the fund has agreed to follow California Insurance Commissioner California Insurance Commissioner is an elected executive office position in California who is in charge of the California Department of Insurance. The current Insurance Commissioner is Steve Poizner. Harry W. Low's suggestion to raise its rates, it was resisting becoming the "insurer of last resort insurer of last resort An insurance plan that accepts 'uninsurable' persons who have expensive and/or chronic diseases, and cannot obtain coverage at market rates. See Blues. " at mid-year. The workers' comp fund had already raised rates by 22% in January, more than double the commissioner's then-recommended rate of 10.2% for the industry. The commissioner since recommended a second, mid-year rate increase of 10.1%, that was effective July July: see month. 1. By year-end year-end also year·end n. The end of a year. adj. Occurring or done at the end of the year: a year-end audit. Noun 1. 2000 figures, the State Compensation Insurance Fund of California had 28.5% of the direct premiums written, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. A.M. Best Co. statement products. The fund's net premiums more than doubled in 2001, growing to $3.61 billion from $1.79 billion, according to A.M. Best data. The California fund has increased rates by 62% over the past four years, and it covers 260,000 policyholders--a slight increase over the 248,600 policyholders it had in 1995 when open rating was started. Trouble in Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and In Florida, another crisis looms, with insurers saying that 10 years after that state underwent major reforms to lower workers' comp premiums and increase benefits, the system is in trouble again. The average total cost per paid claim has risen 10% a year from 1995 to 1998, according to an NCCI study. The organization also found that doing workers' comp business in Florida costs insurers $1.27 for every $1 of premium they collect. Since 1994, premium costs, medical expenses, indemnity and litigation have mounted in that state. In March, Florida approved a version of a workers' comp reform bill that included no changes in claimant CLAIMANT. In the courts of admiralty, when the suit is in rem, the cause is entitled in the Dame of the libellant against the thing libelled, as A B v. Ten cases of calico and it preserves that title through the whole progress of the suit. benefits and attorneys' fees and preserved most construction exemptions--but these were the very issues that reformers had been urging. "The important issue is controlling loss costs and fraud," McLean said at the time. "Florida is not the only state that's facing increased loss-cost trends. Additionally, the current market does not allow for pricing flexibility. Most of the pricing flexibility comes through policyholder Policyholder An individual who owns an insurance policy. dividends, which do not show up in rates." A major cost driver, medical costs constitute 65% of the majority of total losses in Florida, according to a study by the NCCI. But a solution may come soon: a 13-member commission created by Gov. Jeb Bush John Ellis "Jeb" Bush (born February 11, 1953) is an American politician, and was the 43rd Governor of Florida as well as the first Republican to be re-elected to that office. He is a prominent member of the Bush family: the younger brother of current President George W. is holding public hearings on this issue and plans to submit a report to the governor and Legislature legislature, representative assembly empowered to enact statute law. Generally the representatives who compose a legislature are constitutionally elected by a broad spectrum of the population. by Jan. 31,2003. Generally, says the NCCI, most employers are under statutory obligation to obtain workers' comp insurance and provide their employees with medical benefits and compensation for lost wages due to injury, occupational disease or death arising out of employment. While employers usually can purchase this coverage from a voluntary market insurance carrier, some are turned down for such reasons as unstable unstable, adj 1. not firm or fixed in one place; likely to move. 2. capable of undergoing spontaneous change. A nuclide in an unstable state is called radioactive. An atom in an unstable state is called excited. financial status, poor loss experience or the inherently dangerous nature of their business's work. To help these employers meet their statutory obligations, some states have created a market of last resort, which is referred to as the residual market, the assigned-risk market, or the involuntary involuntary adj. or adv. without intent, will, or choice. Participation in a crime is involuntary if forced by immediate threat to life or health of oneself or one's loved ones, and will result in dismissal or acquittal. INVOLUNTARY. market, the council said. Since Sept. 11, the NCCI said it has been monitoring weekly residual-market activity in the 20 states where it manages residual markets. In the first three quarters of 2001, the premium bound in these residual markets grew by 90%, the council said. "That pattern continued in the three months after the Sept. 11 terrorist attacks," the organization said on its Web site. "However, a significant increase is now becoming apparent in the premium bound for coverage from applications submitted on and after Jan. 1,2002." In six of the first eight weeks of 2002, the council said it bound more than $10 million in assigned-risk premium each week. By comparison, the NCCI had bound more than $10 million in only one week during 2001, including the time after Sept. 11. While the council reported that this premium increase was funded by larger accounts seeking coverage in the residual markets, it declined to speculate about the cause and continuation continuation - continuation passing style of this growth until it had further monitored the situation. Mapping the Trends To Dawson Dawson or Dawson City, city (1991 pop. 972), W Yukon Territory, Canada, at the confluence of the Yukon and Klondike rivers. It is the trade center of the Klondike mining region and a tourist center. , the big issue now in workers' comp is the underlying trends in the results and the need for carriers to note the turns in the road. "The concern that I have when I work with carriers is whether they are reacting to the changes in the claim-cost trends that I believe are happening," he said. As an actuary actuary One who calculates insurance risks and premiums. Actuaries compute the probability of the occurrence of such events as birth, marriage, illness, accidents, and death. , he said he knows the tendency for fellow actuaries to "look out the back window of the car, telling people where they have been, not where they are going." That backward gaze gaze (gaz) 1. to look steadily in one direction. 2. the act of looking steadily at something. conjugate gaze in the early 1990s told them claim trends were very high and they predicted that this would continue, Dawson said. But they actually misread mis·read tr.v. mis·read , mis·read·ing, mis·reads 1. To read inaccurately. 2. To misinterpret or misunderstand: misread our friendly concern as prying. the fact that workers' comp reforms were significantly changing those trends. "They over projected the increase in trends and over forecasted the losses,: Dawson said. "And when companies posted their reserves, they posted very high reserves." When results poured in and the trends turned around because the reforms were working, carriers realized they had fat in the reserves. They started to release those reserves, improving the calendar-year results going through the mid- mid- pref. Middle: midbrain. 1990s. Actuaries must resist that backward gaze now and look more at what is happening in the market, Dawson said. "Since the claim-cost trends have changed, they must make sure they consider that in terms of reserving, pricing and underwriting," he said. But he is concerned that actuaries might miss yet another bend Bend, city (1990 pop. 20,469), seat of Deschutes co., W central Oregon, on the Deschutes River, at the eastern foot of the Cascade Range; inc. 1904. Lumbering is the primary industry, and tourism is also important. in this road. "Because the movement now is from a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. to an unfavorable trend, if you don't don't 1. Contraction of do not. 2. Nonstandard Contraction of does not. n. A statement of what should not be done: a list of the dos and don'ts. see the turn in the road, you'll you'll Contraction of you will. you'll you will or you shall you'll will be overly optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op in your projections;' he said. If that happens, and too much weight is given to the downward claim-cost trend in the 1991-1998 time frame, "it could mean companies will be looking at adverse development down the road," Dawson said.
Property/Casualty Direct Premiums Written by Line--2001
($ Thousands)
% of
Direct Total
Premiums Industry %
Business Line Written DPW Change
Fire $6,043,821 1.7 25.0
Allied $4,311,324 1.2 19.8
Multiple Peril Crop $2,572,500 0.7 15.9
Federal Flood $1,420,172 0.4 12.3
Homeowners $37,290,386 10.5 8.2
Commercial Multi Peril $25,301,499 7.2 13.7
Nonliability $14,926,084 4.2 15.9
Liability $10,375,415 2.9 10.8
Inland Marine $9,108,850 2.6 15.0
Workers' Comp $37,628,953 10.6 13.5
Medical Malpractice $7,288,933 2.1 15.6
Other Liability $29,974,010 8.5 19.4
Product Liability $2,401,127 0.7 30.8
Private-Passenger Auto
Liability $74,802,255 21.2 7.6
No-Fault $7,985,704 2.3 12.6
Other Liability $66,816,551 18.9 7.0
Commercial Auto
Liability $17,265,237 4.9 16.0
No-Fault $410,002 0.1 29.0
Other Liability $16,855,235 4.8 15.7
Private-Passenger Auto
Physical Damage $55,532,223 15.7 8.9
Commercial Auto
Physical Damage $6,623,106 1.9 13.5
Farmowners $1,768,567 0.5 6.3
Earthquake $1,031,708 0.3 20.0
Ocean Marine $1,987,957 0.6 15.5
Financial Guaranty $1,841 774 0.5 41.1
Mortgage Guaranty $3,443,961 1.0 12.3
Aircraft $1,472,011 0.4 28.4
Fidelity $859,543 0.2 8.6
Surety $3,483,165 1.0 5.0
Burglary & Theft $124,555 0.0 10.2
Boiler & Machinery $862,314 0.2 17.1
Credit $564,337 0.2 11.2
Group Accident & Health $7,299,983 2.1 4.0
Other Accident & Health $3,671,338 1.0 9.1
Federal Employees
Health $3,323,975 0.9 97.6
Miscellaneous $4,308,979 1.2 23.7
U.S. P/C
Industy Total $353,608,562 100.0 12.3
Adjusted (1)
Loss Ratio Leading
Business Line 2001 2002 Writer
Fire 142.8 56.4 AIG
Allied 213.4 72.6 FM Global
Multiple Peril Crop 96.1 102.7 Ace INA
Federal Flood 84.0 19.2 State Farm
Homeowners 77.6 66.7 State Farm
Commercial Multi Peril 82.0 65.3 Zurich/Farmers
Nonliability 94.8 68.3 Zurich/Farmers
Liability 64.0 61.3 Travelers/Citigroup
Inland Marine 63.0 45.7 AIG
Workers' Comp 89.4 84.3 State Comp Fund CA
Medical Malpractice 101.7 82.6 MLMIC
Other Liability 74.5 73.7 AIG
Product Liability 168.9 99.9 Zurich/Farmers
Private-Passenger Auto
Liability 76.9 75.2 State Farm
No-Fault 113.4 111.6 State Farm
Other Liability 72.6 71.1 State Farm
Commercial Auto
Liability 79.9 81.3 Zurich/Farmers
No-Fault 94.2 101.0 Amer Transit Ins
Other Liability 79.6 80.9 Zurich/Farmers
Private-Passenger Auto
Physical Damage 67.8 68.2 State Farm
Commercial Auto
Physical Damage 63.7 70.3 Zurich/Farmers
Farmowners 75.0 68.1 Nationwide
Earthquake 49.7 25.8 State Farm
Ocean Marine 63.6 66.4 CNA Ins
Financial Guaranty 3.0 10.3 MBIA
Mortgage Guaranty 27.6 27.0 Mortgage Guaranty
Aircraft 206.2 71.1 AIG
Fidelity 58.3 55.7 Chubb
Surety 82.9 46.6 Travelers/Citigroup
Burglary & Theft 31.2 21.4 Chubb
Boiler & Machinery 41.0 51.8 FM Global
Credit 72.7 33.0 Euler Amer Credit
Group Accident & Health 73.7 82.3 Anthem
Other Accident & Health 58.9 55.7 Anthem
Federal Employees
Health 90.7 91.9 CNA Ins
Miscellaneous 78.0 87.9
U.S. P/C
Industy Total 79.7 71.3 State Farm
% of
% Writer's
Market Total
Business Line AMB # Share DPW
Fire 18540 10.4 4.1
Allied 18502 11.0 37.1
Multiple Peril Crop 18498 18.9 13.1
Federal Flood 00088 18.5 0.7
Homeowners 00088 21.9 21.8
Commercial Multi Peril 18549 8.2 9.7
Nonliability 18549 10.2 7.1
Liability 18358 8.9 7.7
Inland Marine 18540 9.5 5.6
Workers' Comp 04028 9.7 100.0
Medical Malpractice 18439 9.7 82.2
Other Liability 18540 19.5 37.9
Product Liability 18549 10.7 1.2
Private-Passenger Auto
Liability 00088 18.7 37.3
No-Fault 00088 17.7 3.8
Other Liability 00088 18.8 33.5
Commercial Auto
Liability 18549 6.8 5.5
No-Fault 04660 7.6 24.9
Other Liability 18549 6.8 5.4
Private-Passenger Auto
Physical Damage 00088 19.5 28.8
Commercial Auto
Physical Damage 18549 6.9 2.2
Farmowners 05987 7.3 1.2
Earthquake 00088 15.3 0.4
Ocean Marine 18313 13.5 2.2
Financial Guaranty 03166 33.0 100.0
Mortgage Guaranty 03014 31.3 100.0
Aircraft 18540 21.6 2.1
Fidelity 00012 15.7 2.2
Surety 18358 12.7 3.7
Burglary & Theft 00012 29.2 0.6
Boiler & Machinery 18502 19.2 12.9
Credit 02097 21.4 100.0
Group Accident & Health 18184 32.9 59.3
Other Accident & Health 18184 22.2 20.1
Federal Employees
Health 18313 66.7 17.9
Miscellaneous
U.S. P/C
Industy Total 00088 10.6
Second %
Leading Market
Business Line Writer AMB # Share
Fire Zurich/Farmers 18549 7.7
Allied Zurich/Farmers 18549 8.2
Multiple Peril Crop Centurion Ins 18188 16.5
Federal Flood Bankers Ins 18379 12.4
Homeowners Allstate Ins 00008 11.4
Commercial Multi Peril Travelers/Citigroup 18358 7.4
Nonliability Travelers/Citigroup 18358 6.4
Liability CNA Ins 18313 7.1
Inland Marine Zurich/Farmers 18549 6.5
Workers' Comp Liberty Mutual Ins 00060 7.9
Medical Malpractice St Paul 00080 8.0
Other Liability Zurich/Farmers 18549 7.1
Product Liability St Paul 00080 10.3
Private-Passenger Auto
Liability Allstate Ins 00008 11.1
No-Fault Allstate Ins 00008 12.4
Other Liability Allstate Ins 00008 10.9
Commercial Auto
Liability Travelers/Citigroup 18358 5.5
No-Fault Progressive 00780 6.2
Other Liability Travelers/Citigroup 18358 5.5
Private-Passenger Auto
Physical Damage Allstate Ins 00008 11.6
Commercial Auto
Physical Damage State Farm 00088 5.8
Farmowners State Farm 00088 6.4
Earthquake St Paul 00080 9.0
Ocean Marine AIG 18540 11.1
Financial Guaranty Ambac Financial 18449 31.0
Mortgage Guaranty Radian 18150 19.0
Aircraft HCC Ins 18421 9.4
Fidelity AIG 18540 14.5
Surety St Paul 00080 10.6
Burglary & Theft Zurich/Farmers 18549 12.3
Boiler & Machinery AIG 18540 16.9
Credit Household Ins 18428 10.1
Group Accident & Health CNA Ins 18313 11.2
Other Accident & Health Assurant 18499 20.5
Federal Employees
Health Anthem 18184 25.1
Miscellaneous
U.S. P/C
Industy Total Zurich/Farmers 18549 6.0
% of
Writer's
Total
Business Line DPW
Fire 2.2
Allied 1.7
Multiple Peril Crop 98.3
Federal Flood 55.4
Homeowners 20.7
Commercial Multi Peril 15.7
Nonliability 8.0
Liability 6.0
Inland Marine 2.8
Workers' Comp 31.3
Medical Malpractice 9.1
Other Liability 10.0
Product Liability 3.9
Private-Passenger Auto
Liability 40.3
No-Fault 4.8
Other Liability 35.5
Commercial Auto
Liability 7.9
No-Fault 0.3
Other Liability 7.7
Private-Passenger Auto
Physical Damage 31.4
Commercial Auto
Physical Damage 1.0
Farmowners 0.3
Earthquake 1.4
Ocean Marine 1.4
Financial Guaranty 99.1
Mortgage Guaranty 86.7
Aircraft 26.3
Fidelity 0.8
Surety 5.8
Burglary & Theft 0.1
Boiler & Machinery 0.9
Credit 61.8
Group Accident & Health 6.6
Other Accident & Health 20.2
Federal Employees
Health 20.6
Miscellaneous
U.S. P/C
Industy Total 6.0
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 24, 2002. For custom data, please
call (908) 439-2200, ext. 5383.
Workers' Compensation, Top Writers--2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct % Change
Premiums in
Rank Group AMB # Written Premiums
1 State Comp Fund Calif 04028 $3,638,077 102.2
2 Liberty Mututal Ins Cos 00060 2,985,751 0.3
3 American Intern Group Inc 18540 1,921,250 18.1
4 Zurich/Farmers Group 18549 1,851,730 29.7
5 CNA Ins Cos 18313 1,679,884 6.9
6 Royal & SunAlliance USA 18371 1,330,850 22.8
7 Travelers/Citigroup 18358 1,328,591 3.6
8 Kemper Ins Cos 04427 1,319,218 -1.2
9 Hartford Ins Group 00048 1,188,714 12.7
10 St Paul Cos 00080 841,364 32.5
11 Legion Ins Group 18366 754,131 3.9
12 Fairfax Financial (US) Group 03116 599,317 -0.6
13 Ace INA Group 18498 567,544 87.5
14 Allianz of America 18429 490,156 -19.6
15 HDI US Group 18492 459,180 46.4
16 Chubb Group of Ins Cos 00012 442,274 10.2
17 Zenith National Ins Group 03020 434,851 35.5
18 Texas Mutual Ins Co 11453 421,675 38.4
19 Pinnacol Assur Co 03471 408,585 29.0
20 FCCI Ins Group 18290 388,047 10.2
21 Great American P&C Group 04835 355,512 -8.2
22 Sentry Ins Group 00086 342,335 113.7
23 Everest Re US Group 05696 338,698 140.6
24 White Mountains Ins Group 18490 333,702 -39.0
25 Cincinnati Ins Cos 04294 322,258 47.3
Top 25 P/C Cos. $24,743,694 20.7
Total U.S. P/C Cos. $37,628,953 13.5
Market Share (%)
Rank Group 2001 2000 1999
1 State Comp Fund Calif 9.7 5.4 4.1
2 Liberty Mututal Ins Cos 7.9 9.0 9.4
3 American Intern Group Inc 5.1 4.9 3.8
4 Zurich/Farmers Group 4.9 4.3 3.4
5 CNA Ins Cos 4.5 4.7 5.7
6 Royal & SunAlliance USA 3.5 3.3 3.2
7 Travelers/Citigroup 3.5 3.9 4.2
8 Kemper Ins Cos 3.5 4.0 3.6
9 Hartford Ins Group 3.2 3.2 3.5
10 St Paul Cos 2.2 1.9 1.4
11 Legion Ins Group 2.0 2.2 1.8
12 Fairfax Financial (US) Group 1.6 1.8 1.7
13 Ace INA Group 1.5 0.9 1.2
14 Allianz of America 1.3 1.8 2.5
15 HDI US Group 1.2 0.9 1.1
16 Chubb Group of Ins Cos 1.2 1.2 1.2
17 Zenith National Ins Group 1.2 1.0 0.9
18 Texas Mutual Ins Co 1.1 0.9 0.8
19 Pinnacol Assur Co 1.1 1.0 0.9
20 FCCI Ins Group 1.0 1.1 0.9
21 Great American P&C Group 0.9 1.2 1.3
22 Sentry Ins Group 0.9 0.5 0.5
23 Everest Re US Group 0.9 0.4 0.2
24 White Mountains Ins Group 0.9 1.6 1.6
25 Cincinnati Ins Cos 0.9 0.7 0.6
Top 25 P/C Cos. 65.8 61.8 59.4
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios
(1)
Rank Group 2001 2000
1 State Comp Fund Calif 87.9 96.3
2 Liberty Mututal Ins Cos 101.5 85.1
3 American Intern Group Inc 77.5 94.4
4 Zurich/Farmers Group 91.3 86.5
5 CNA Ins Cos 118.2 93.2
6 Royal & SunAlliance USA 85.6 84.5
7 Travelers/Citigroup 113.3 74.6
8 Kemper Ins Cos 90.0 83.2
9 Hartford Ins Group 84.3 65.6
10 St Paul Cos 43.4 -18.6
11 Legion Ins Group 99.8 71.5
12 Fairfax Financial (US) Group 79.0 65.5
13 Ace INA Group 52.0 83.3
14 Allianz of America 121.1 114.2
15 HDI US Group 76.0 150.0
16 Chubb Group of Ins Cos 146.4 54.1
17 Zenith National Ins Group 61.9 75.1
18 Texas Mutual Ins Co 78.3 81.4
19 Pinnacol Assur Co 71.6 85.1
20 FCCI Ins Group 69.2 81.2
21 Great American P&C Group 82.2 91.3
22 Sentry Ins Group 65.9 62.9
23 Everest Re US Group 63.3 63.8
24 White Mountains Ins Group 113.5 111.1
25 Cincinnati Ins Cos 77.5 66.4
Top 25 P/C Cos. 89.8 83.4
Total U.S. P/C Cos. 89.4 84.3
% of
Adjusted Loss Company
Ratios (1)
Rank Group 1999 Premiums
1 State Comp Fund Calif 100.0 100.0
2 Liberty Mututal Ins Cos 82.3 31.3
3 American Intern Group Inc 46.3 12.4
4 Zurich/Farmers Group 77.2 8.7
5 CNA Ins Cos 77.3 13.6
6 Royal & SunAlliance USA 84.8 28.5
7 Travelers/Citigroup 83.2 11.1
8 Kemper Ins Cos 100.4 27.9
9 Hartford Ins Group 70.1 15.5
10 St Paul Cos 50.7 13.1
11 Legion Ins Group 111.1 50.9
12 Fairfax Financial (US) Group 125.6 25.9
13 Ace INA Group 98.1 15.3
14 Allianz of America 104.7 9.4
15 HDI US Group 124.2 21.8
16 Chubb Group of Ins Cos 56.3 7.2
17 Zenith National Ins Group 100.3 100.0
18 Texas Mutual Ins Co 77.4 100.0
19 Pinnacol Assur Co 59.9 100.0
20 FCCI Ins Group 59.3 70.1
21 Great American P&C Group 95.7 10.1
22 Sentry Ins Group 64.2 21.5
23 Everest Re US Group 61.5 78.5
24 White Mountains Ins Group 44.3 8.7
25 Cincinnati Ins Cos 68.2 11.9
Top 25 P/C Cos. 81.8 18.7
Total U.S. P/C Cos. 80.9 10.6
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002. For custom data, please
call (908) 439-2200, ext. 5383.
Medical Malpractice, Top Writers--2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 MLMIC Group 18439 $704,379 11.7
2 St Paul Cos 00080 583,612 1.5
3 GE Global Ins Group 18572 405,007 26.2
4 ProAssurance Group 18559 339,665 11.0
5 Zurich/Farmers Group 18549 315,901 37.3
6 Health Care Indemnity 03701 287,672 18.3
7 Doctors Co Ins Group 18083 271,621 32.5
8 CNA Ins Cos 18313 251,071 8.2
9 Norcal Group 18539 248,443 17.0
10 Allianz of America 18429 233,129 77.4
11 American Intern Group Inc 18540 229,423 46.5
12 Miix Group 18349 228,566 9.0
13 ISMIE Mutual Ins Co 03757 207,795 26.8
14 FPIC Ins Group 18457 201,618 80.1
15 SCPIE Cos 18350 183,835 19.4
16 Physicians Reciprocal Ins 02888 170,505 27.2
17 APCapital Group 18321 147,353 20.5
18 ProMutual Group 18359 137,102 29.8
19 Reciprocal Group 18219 134,774 43.0
20 Mag Mutual Ins Co 01936 128,623 51.8
21 State Volunteer Mutual 03706 120,236 22.8
22 Hanys Ins Co 00157 92,591 1.4
23 Medical Mutual Group (MD) 05006 90,519 12.0
24 Fairfax Financial (US) Group 03116 86,254 33.1
25 HDI US Group 18492 84,315 74.9
Top 25 P/C Cos. $5,884,009 22.4
Total U.S. P/C Cos. $7,288,933 15.6
Market Share(%)
Rank Group 2001 2000 1999
1 MLMIC Group 9.7 10.0 10.0
2 St Paul Cos 8.0 9.1 9.9
3 GE Global Ins Group 5.6 5.1 4.3
4 ProAssurance Group 4.7 4.9 4.9
5 Zurich/Farmers Group 4.3 3.6 3.3
6 Health Care Indemnity 3.9 3.9 4.2
7 Doctors Co Ins Group 3.7 3.3 3.3
8 CNA Ins Cos 3.4 3.7 4.2
9 Norcal Group 3.4 3.4 3.2
10 Allianz of America 3.2 2.1 1.8
11 American Intern Group Inc 3.1 2.5 1.8
12 Miix Group 3.1 3.3 4.0
13 ISMIE Mutual Ins Co 2.9 2.6 2.7
14 FPIC Ins Group 2.8 1.8 1.6
15 SCPIE Cos 2.5 2.4 2.5
16 Physicians Reciprocal Ins 2.3 2.1 2.2
17 APCapital Group 2.0 1.9 2.0
18 ProMutual Group 1.9 1.7 1.5
19 Reciprocal Group 1.8 1.5 1.3
20 Mag Mutual Ins Co 1.8 1.3 1.2
21 State Volunteer Mutual 1.6 1.6 1.5
22 Hanys Ins Co 1.3 1.4 1.3
23 Medical Mutual Group (MD) 1.2 1.3 1.2
24 Fairfax Financial (US) Group 1.2 1.0 0.7
25 HDI US Group 1.2 0.8 0.4
Top 25 P/C Cos, 80.7 76.3 74.7
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios
(1)
Rank Group 2001 2000
1 MLMIC Group 114.9 62.7
2 St Paul Cos 177.7 131.6
3 GE Global Ins Group 53.4 51.4
4 ProAssurance Group 65.1 63.2
5 Zurich/Farmers Group 152.0 145.0
6 Health Care Indemnity 110.9 95.5
7 Doctors Co Ins Group 51.1 51.5
8 CNA Ins Cos 138.2 56.6
9 Norcal Group 72.8 66.1
10 Allianz of America 50.2 49.1
11 American Intern Group Inc 135.7 70.1
12 Miix Group 133.0 111.8
13 ISMIE Mutual Ins Co 72.8 68.6
14 FPIC Ins Group 67.3 63.8
15 SCPIE Cos 86.5 46.1
16 Physicians Reciprocal Ins 66.8 38.9
17 APCapital Group 107.7 65.6
18 ProMutual Group 142.0 200.4
19 Reciprocal Group 115.4 96.4
20 Mag Mutual Ins Co 93.0 89.1
21 State Volunteer Mutual 83.6 99.3
22 Hanys Ins Co 86.5 0.7
23 Medical Mutual Group (MD) 76.1 67.6
24 Fairfax Financial (US) Group 59.9 51.9
25 HDI US Group 121.9 101.9
Top 25 P/C Cos. 104.6 80.5
Total U.S. P/C Cos. 101.7 82.6
% of
Adjusted Company
Loss
Ratios (1)
Rank Group 1999 Premiums
1 MLMIC Group 60.9 82.2
2 St Paul Cos 85.1 9.1
3 GE Global Ins Group 57.8 21.5
4 ProAssurance Group 35.5 65.6
5 Zurich/Farmers Group 115.7 1.5
6 Health Care Indemnity 89.7 100.0
7 Doctors Co Ins Group 48.2 96.1
8 CNA Ins Cos 63.8 2.0
9 Norcal Group 60.6 99.9
10 Allianz of America 40.6 4.5
11 American Intern Group Inc 286.0 1.5
12 Miix Group 84.9 98.7
13 ISMIE Mutual Ins Co 72.1 99.9
14 FPIC Ins Group 47.6 90.7
15 SCPIE Cos 55.6 98.0
16 Physicians Reciprocal Ins 63.4 94.4
17 APCapital Group 44.3 63.9
18 ProMutual Group 83.4 97.0
19 Reciprocal Group 81.1 55.8
20 Mag Mutual Ins Co 122.6 97.0
21 State Volunteer Mutual 105.4 99.9
22 Hanys Ins Co 7.7 101.4
23 Medical Mutual Group (MD) 72.8 99.5
24 Fairfax Financial (US) Group 12.6 3.7
25 HDI US Group 55.8 4.0
Top 25 P/C Cos. 73.2 8.2
Total U.S. P/C Cos. 78.2 2.1
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002. For Custom data, please
call (908) 439-2200, ext. 5383.
Homeowners Multiple Peril, Top Writers--2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 State Farm Group 00088 $8,165,076 10.7
2 Allstate Ins Group 00008 4,244,433 6.9
3 Zurich/Farmers Group 18549 3,204,366 10.5
4 Nationwide Group 05987 1,701,054 9.5
5 USAA Group 04080 1,360,571 10.6
6 Travelers/Citigroup 18358 1,341,380 2.9
7 Chubb Group of Ins Cos 00012 960,907 15.7
8 American Family Ins Group 00124 833,818 13.5
9 Safeco Ins Cos 00078 763,006 0.8
10 Liberty Mutual Ins Cos 00060 747,612 8.1
11 Hartford Ins Group 00048 613,851 7.0
12 MetLife Auto & Home Group 18552 546,960 32.9
13 CNA Ins Cos 18313 479,216 -0.2
14 Prudential of America Group 03905 448,443 1.9
15 Auto-Owners Ins Group 04354 443,332 17.7
16 Allianz of America 18429 442,318 10.5
17 White Mountains Ins Group 18490 421,542 -11.1
18 Erie Ins Group 04283 406,160 14.4
19 Southern FB Group 02962 348,470 8.6
20 Allmerica P&C Cos 04861 338,647 9.8
21 HDI US Group 18492 337,917 -6.3
22 Cincinnati Ins Cos 04294 227,554 18.3
23 Calif State Auto Group 18460 219,457 10.9
24 Amica Mutual Group 18522 216,586 9.6
25 Winterthur Swiss Group 05658 210,040 4.7
Top 25 P/C Cos. $29,022,716 8.9
Total U.S. P/C Cos. $37,290,386 8.2
Market Share (%)
Rank Group 2001 2000 1999
1 State Farm Group 21.9 21.4 22.5
2 Allstate Ins Group 11.4 11.5 11.5
3 Zurich/Farmers Group 8.6 8.4 7.1
4 Nationwide Group 4.6 4.5 4.5
5 USAA Group 3.6 3.6 3.5
6 Travelers/Citigroup 3.6 3.8 3.8
7 Chubb Group of Ins Cos 2.6 2.4 2.3
8 American Family Ins Group 2.2 2.1 2.1
9 Safeco Ins Cos 2.0 2.2 2.3
10 Liberty Mutual Ins Cos 2.0 2.0 2.0
11 Hartford Ins Group 1.6 1.7 1.6
12 MetLife Auto & Home Group 1.5 1.2 1.2
13 CNA Ins Cos 1.3 1.4 1.4
14 Prudential of America Group 1.2 1.3 1.3
15 Auto-Owners Ins Group 1.2 1.1 1.0
16 Allianz of America 1.2 1.2 1.2
17 White Mountains Ins Group 1.1 1.4 1.5
18 Erie Ins Group 1.1 1.0 1.0
19 Southern FB Group 0.9 0.9 0.9
20 Allmerica P&C Cos 0.9 0.9 0.9
21 HDI US Group 0.9 1.0 1.0
22 Cincinnati Ins Cos 0.6 0.6 0.6
23 Calif State Auto Group 0.6 0.6 0.5
24 Amica Mutual Group 0.6 0.6 0.6
25 Winterthur Swiss Group 0.6 0.6 0.6
Top 25 P/C Cos. 77.8 77.3 76.9
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios (1)
Rank Group 2001 2000 1999
1 State Farm Group 87.9 71.3 62.7
2 Allstate Ins Group 70.2 58.7 60.7
3 Zurich/Farmers Group 88.3 73.8 79.7
4 Nationwide Group 72.5 70.1 69.9
5 USAA Group 60.7 57.3 67.9
6 Travelers/Citigroup 71.3 65.0 60.2
7 Chubb Group of Ins Cos 69.3 54.7 58.1
8 American Family Ins Group 124.3 89.3 78.5
9 Safeco Ins Cos 86.5 75.9 67.6
10 Liberty Mutual Ins Cos 76.9 68.3 61.7
11 Hartford Ins Group 58.5 56.6 58.0
12 MetLife Auto & Home Group 71.7 75.3 55.8
13 CNA Ins Cos 74.6 68.6 62.9
14 Prudential of America Group 61.1 51.8 55.3
15 Auto-Owners Ins Group 102.2 84.6 79.6
16 Allianz of America 76.3 62.0 55.5
17 White Mountains Ins Group 71.8 70.8 62.7
18 Erie Ins Group 64.6 64.9 66.9
19 Southern FB Group 76.4 68.4 66.7
20 Allmerica P&C Cos 71.9 73.9 66.9
21 HDI US Group 39.4 28.1 29.7
22 Cincinnati Ins Cos 99.7 80.0 64.8
23 Calif State Auto Group 62.4 60.2 66.4
24 Amica Mutual Group 77.3 61.0 56.1
25 Winterthur Swiss Group 83.2 67.3 52.1
Top 25 P/C Cos. 79.3 67.3 64.3
Total U.S. P/C Cos. 77.6 66.7 64.0
% of
Company
Rank Group Premiums
1 State Farm Group 21.8
2 Allstate Ins Group 20.7
3 Zurich/Farmers Group 15.0
4 Nationwide Group 15.5
5 USAA Group 21.7
6 Travelers/Citigroup 11.2
7 Chubb Group of Ins Cos 15.6
8 American Family Ins Group 20.1
9 Safeco Ins Cos 16.8
10 Liberty Mutual Ins Cos 7.8
11 Hartford Ins Group 8.0
12 MetLife Auto & Home Group 21.6
13 CNA Ins Cos 3.9
14 Prudential of America Group 23.1
15 Auto-Owners Ins Group 16.6
16 Allianz of America 8.5
17 White Mountains Ins Group 11.0
18 Erie Ins Group 16.0
19 Southern FB Group 22.3
20 Allmerica P&C Cos 13.5
21 HDI US Group 16.1
22 Cincinnati Ins Cos 8.4
23 Calif State Auto Group 12.5
24 Amica Mutual Group 21.4
25 Winterthur Swiss Group 12.0
Top 25 P/C Cos. 15.7
Total U.S. P/C Cos. 10.5
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002. For custom data, please
call (908) 439-2200, ext. 5383.
Total Auto, Top Writers--2001
Rank is based on 2001 direct permiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 State Farm Group 00088 $25,572,683 14.6
2 Allstate Ins Group 00008 15,200,422 3.4
3 Zurich/Farmers Group 18549 9,056,206 9.2
4 Progressive Group 00780 7,222,716 15.1
5 Nationwide Group 05987 6,743,054 10.2
6 Berkshire Hathaway 00811 6,199,297 8.2
7 USAA Group 04080 4,522,861 11.1
8 Travelers/Citigroup 18358 3,946,760 7.3
9 Liberty Mutual Ins Cos 00060 3,701,427 1.4
10 Amer Intern Group Inc 18540 3,262,745 14.8
11 American Family Ins Group 00124 2,722,106 8.2
12 Hartford Ins Group 00048 2,670,925 9.3
13 CNA Ins Cos 18313 2,282,674 0.7
14 Safeco Ins Cos 00078 2,156,236 0.4
15 MetLife Auto & Home Group 18552 1,893,348 17.2
16 White Mountains Ins Group 18490 1,615,122 -16.8
17 Erie Ins Group 04283 1,596,884 11.8
18 Great American P&C Group 04835 1,529,492 -0.1
19 Calif State Auto Group 18460 1,517,527 3.8
20 Prudential of America Group 03905 1,438,944 10.5
21 Auto-Owners Ins Group 04354 1,378,276 15.6
22 Allmerica P&C Cos 04861 1,356,175 7.5
23 GMAC Ins Group 18431 1,349,980 6.9
24 Mercury General Group 04524 1,337,963 13.1
25 Auto Club S Calif Group 18515 1,308,084 8.6
Top 25 P/C Cos. $111,581,907 8.9
Total U.S. P/C Cos. $154,222,820 9.2
Market Share (%)
Rank Group 2001 2000 1999
1 State Farm Group 16.6 15.8 16.7
2 Allstate Ins Group 9.9 10.4 10.8
3 Zurich/Farmers Group 5.9 5.9 6.1
4 Progressive Group 4.7 4.4 4.5
5 Nationwide Group 4.4 4.3 4.1
6 Berkshire Hathaway 4.0 4.1 3.6
7 USAA Group 2.9 2.9 2.7
8 Travelers/Citigroup 2.6 2.6 2.5
9 Liberty Mutual Ins Cos 2.4 2.6 2.5
10 Amer Intern Group Inc 2.1 2.0 1.8
11 American Family Ins Group 1.8 1.8 1.8
12 Hartford Ins Group 1.7 1.7 1.7
13 CNA Ins Cos 1.5 1.6 1.7
14 Safeco Ins Cos 1.4 1.5 1.6
15 MetLife Auto & Home Group 1.2 1.1 1.1
16 White Mountains Ins Group 1.0 1.4 1.4
17 Erie Ins Group 1.0 1.0 1.0
18 Great American P&C Group 1.0 1.1 1.0
19 Calif State Auto Group 1.0 1.0 1.0
20 Prudential of America Group 0.9 0.9 0.9
21 Auto-Owners Ins Group 0.9 0.8 0.8
22 Allmerica P&C Cos 0.9 0.9 0.8
23 GMAC Ins Group 0.9 0.9 0.9
24 Mercury General Group 0.9 0.8 0.9
25 Auto Club S Calif Group 0.8 0.9 0.8
Top 25 P/C Cos. 72.4 72.5 72.7
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios (1)
Rank Group 2001 2000 1999
1 State Farm Group 84.3 80.2 69.6
2 Allstate Ins Group 64.9 65.4 58.7
3 Zurich/Farmers Group 68.4 72.6 67.8
4 Progressive Group 59.7 69.9 62.9
5 Nationwide Group 68.4 72.7 66.7
6 Berkshire Hathaway 71.5 78.2 71.8
7 USAA Group 74.0 76.3 75.0
8 Travelers/Citigroup 74.7 72.4 66.6
9 Liberty Mutual Ins Cos 78.7 77.9 70.7
10 Amer Intern Group Inc 75.7 78.2 71.3
11 American Family Ins Group 70.6 70.3 68.1
12 Hartford Ins Group 67.0 67.7 66.0
13 CNA Ins Cos 110.9 76.3 73.2
14 Safeco Ins Cos 68.3 74.3 70.5
15 MetLife Auto & Home Group 66.9 67.1 63.9
16 White Mountains Ins Group 80.2 83.9 69.1
17 Erie Ins Group 74.2 67.8 62.2
18 Great American P&C Group 65.4 68.7 62.9
19 Calif State Auto Group 71.6 73.3 82.0
20 Prudential of America Group 65.8 57.2 55.7
21 Auto-Owners Ins Group 74.5 69.9 71.7
22 Allmerica P&C Cos 77.5 71.4 73.1
23 GMAC Ins Group 82.2 64.3 65.5
24 Mercury General Group 61.1 59.3 55.5
25 Auto Club S Calif Group 72.1 71.9 63.1
Top 25 P/C Cos. 73.6 73.3 66.9
Total U.S. P/C Cos. 73.4 73.1 67.7
% of
Company
Rank Group Premiums
1 State Farm Group 68.1
2 Allstate Ins Group 74.1
3 Zurich/Farmers Group 42.5
4 Progressive Group 97.9
5 Nationwide Group 61.6
6 Berkshire Hathaway 83.7
7 USAA Group 72.3
8 Travelers/Citigroup 33.1
9 Liberty Mutual Ins Cos 38.8
10 Amer Intern Group Inc 21.1
11 American Family Ins Group 65.7
12 Hartford Ins Group 34.8
13 CNA Ins Cos 18.5
14 Safeco Ins Cos 47.5
15 MetLife Auto & Home Group 74.7
16 White Mountains Ins Group 42.0
17 Erie Ins Group 62.9
18 Great American P&C Group 43.3
19 Calif State Auto Group 86.5
20 Prudential of America Group 74.1
21 Auto-Owners Ins Group 51.5
22 Allmerica P&C Cos 54.0
23 GMAC Ins Group 60.3
24 Mercury General Group 92.7
25 Auto Club S Calif Group 89.5
Top 25 P/C Cos. 54.8
Total U.S. P/C Cos. 43.6
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002.
For custom data, please call (908) 439-2200, ext. 5383.
Total Commercial Multiple Peril, Top Writers -- 2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 Zurich/Farmers Group 18549 $2,069,884 28.6
2 Travelers/Citigroup 18358 1,873,608 9.3
3 CNA Ins Cos 18313 1,390,467 11.9
4 Hartford Ins Group 00048 1,359,899 14.8
5 Chubb Group of Ins Cos 00012 1,015,929 15.7
6 State Farm Group 00088 970,955 20.7
7 Nationwide Group 05987 903,801 16.0
8 Allianz of America 18429 851,813 3.6
9 Liberty Mutual Ins Cos 00060 814,433 23.3
10 White Mountains Ins Group 18490 765,311 -18.5
11 Cincinnati Ins Cos 04294 686,886 40.8
12 Safeco Ins Cos 00078 560,324 -9.6
13 St Paul Cos 00080 558,097 7.6
14 Royal & SunAlliance USA 18371 552,934 7.2
15 GE Global Ins Group 18572 485,756 29.0
16 Allmerica P&C Cos 04861 429,042 11.9
17 Kemper Ins Cos 04427 411,284 15.3
18 Allstate Ins Group 00008 383,942 3.6
19 Auto-Owners Ins Group 04354 371,559 22.1
20 Atlantic Mutual Cos 00178 293,552 7.6
21 Harleysville Ins 03916 270,946 14.4
22 Winterthur Swiss Group 05658 268,269 21.8
23 American Intern Group Inc 18540 267,594 48.7
24 Erie Ins Group 04283 260,065 28.9
25 Ohio Casualty Group 00726 254,156 29.5
Top 25 P/C Cos. $18,070,504 13.8
Total U.S. P/C Cos. $25,301,499 13.7
Market Share (%)
Rank Group 2001 2000 1999
1 Zurich/Farmers Group 8.2 7.2 6.0
2 Travelers/Citigroup 7.4 7.7 7.2
3 CNA Ins Cos 5.5 5.6 6.3
4 Hartford Ins Group 5.4 5.3 5.1
5 Chubb Group of Ins Cos 4.0 3.9 3.9
6 State Farm Group 3.8 3.6 4.2
7 Nationwide Group 3.6 3.5 3.4
8 Allianz of America 3.4 3.7 4.1
9 Liberty Mutual Ins Cos 3.2 3.0 2.8
10 White Mountains Ins Group 3.0 4.2 4.2
11 Cincinnati Ins Cos 2.7 2.2 2.0
12 Safeco Ins Cos 2.2 2.8 3.0
13 St Paul Cos 2.2 2.3 2.1
14 Royal & SunAlliance USA 2.2 2.3 2.5
15 GE Global Ins Group 1.9 1.7 1.3
16 Allmerica P&C Cos 1.7 1.7 1.5
17 Kemper Ins Cos 1.6 1.6 2.0
18 Allstate Ins Group 1.5 1.7 1.7
19 Auto-Owners Ins Group 1.5 1.4 1.2
20 Atlantic Mutual Cos 1.2 1.2 1.1
21 Harleysville Ins 1.1 1.1 1.1
22 Winterthur Swiss Group 1.1 1.0 0.8
23 American Intern Group Inc 1.1 0.8 0.7
24 Erie Ins Group 1.0 0.9 0.8
25 Ohio Casualty Group 1.0 0.9 0.8
Top 25 P/C Cos. 71.4 71.4 69.9
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios (1)
Rank Group 2001 2000 1999
1 Zurich/Farmers Group 62.8 64.3 70.6
2 Travelers/Citigroup 62.1 57.5 71.3
3 CNA Ins Cos 103.4 73.5 86.0
4 Hartford Ins Group 60.6 49.5 58.4
5 Chubb Group of Ins Cos 231.4 62.6 78.7
6 State Farm Group 76.1 71.5 61.4
7 Nationwide Group 59.9 59.4 66.2
8 Allianz of America 73.7 69.2 80.1
9 Liberty Mutual Ins Cos 108.7 68.0 72.2
10 White Mountains Ins Group 79.4 83.4 68.8
11 Cincinnati Ins Cos 68.6 62.5 61.1
12 Safeco Ins Cos 60.1 66.7 65.0
13 St Paul Cos 179.1 54.3 75.9
14 Royal & SunAlliance USA 147.8 67.1 58.3
15 GE Global Ins Group 74.9 82.1 71.7
16 Allmerica P&C Cos 73.4 64.7 67.3
17 Kemper Ins Cos 109.9 72.8 78.5
18 Allstate Ins Group 54.8 53.7 56.8
19 Auto-Owners Ins Group 76.8 82.1 72.7
20 Atlantic Mutual Cos 91.3 48.4 53.0
21 Harleysville Ins 50.7 53.2 63.5
22 Winterthur Swiss Group 58.2 56.0 47.8
23 American Intern Group Inc 30.6 105.5 79.2
24 Erie Ins Group 63.0 59.2 58.6
25 Ohio Casualty Group 55.0 62.6 74.4
Top 25 P/C Cos. 86.8 65.2 70.0
Total U.S. P/C Cos. 82.0 65.3 69.7
% of
Company
Rank Group Premiums
1 Zurich/Farmers Group 9.7
2 Travelers/Citigroup 15.7
3 CNA Ins Cos 11.3
4 Hartford Ins Group 17.7
5 Chubb Group of Ins Cos 16.5
6 State Farm Group 2.6
7 Nationwide Group 8.3
8 Allianz of America 16.3
9 Liberty Mutual Ins Cos 8.5
10 White Mountains Ins Group 19.9
11 Cincinnati Ins Cos 25.3
12 Safeco Ins Cos 12.3
13 St Paul Cos 8.7
14 Royal & SunAlliance USA 11.8
15 GE Global Ins Group 25.7
16 Allmerica P&C Cos 17.1
17 Kemper Ins Cos 8.7
18 Allstate Ins Group 1.9
19 Auto-Owners Ins Group 13.9
20 Atlantic Mutual Cos 30.3
21 Harleysville Ins 23.6
22 Winterthur Swiss Group 15.3
23 American Intern Group Inc 1.7
24 Erie Ins Group 10.2
25 Ohio Casualty Group 16.4
Top 25 P/C Cos. 9.0
Total U.S. P/C Cos. 7.2
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002.
For custom data, please call (908) 439-2200, ext. 5383.
Commercial Multiple Peril Nonliability, Top Writers--2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 Zurich/Farmers Group 18549 $1,518,405 29.6
2 Travelers/Citigroup 18358 949,850 10.9
3 Hartford Ins Group 00048 872,096 14.4
4 Chubb Group of Ins Cos 00012 677,393 24.0
5 State Farm Group 00088 676,959 22.3
6 CNA Ins Cos 18313 651,218 10.7
7 Liberty Mutual Ins Cos 00060 519,089 34.7
8 Nationwide Group 05987 511,039 12.0
9 Allianz of America 18429 476,269 6.6
10 St Paul Cos 00080 446,186 18.3
11 Cincinnati Ins Cos 04294 443,136 37.7
12 White Mountains Ins Group 18490 397,150 -16.7
13 Royal & SunAlliance USA 18371 356,426 10.8
14 Safeco Ins Cos 00078 308,046 -9.0
15 Allstate Ins Group 00008 260,556 3.9
16 Kemper Ins Cos 04427 229,647 16.6
17 Allmerica P&C Cos 04861 217,120 11.3
18 American Intern Group Inc 18540 201,318 51.8
19 Auto-Owners Ins Group 04354 187,394 23.6
20 GE Global Ins Group 18572 186,375 26.6
21 Erie Ins Group 04283 163,166 30.6
22 Ohio Casualty Group 00726 153,173 41.9
23 Fairfax Financial (US) Group 03116 147,189 -23.3
24 Church Mutual Ins Co 00259 142,193 9.3
25 Atalantic Mutual Cos 00178 139,797 6.5
Top 25 P/C Cos. $10,831,190 15.7
Total U.S. P/C Cos. $14,926,084 15.9
Market Share (%)
Rank Group 2001 2000 1999
1 Zurich/Farmers Group 10.2 9.1 8.0
2 Travelers/Citigroup 6.4 6.6 5.5
3 Hartford Ins Group 5.8 5.9 5.7
4 Chubb Group of Ins Cos 4.5 4.2 4.2
5 State Farm Group 4.5 4.3 4.5
6 CNA Ins Cos 4.4 4.6 5.5
7 Liberty Mutual Ins Cos 3.5 3.0 2.9
8 Nationwide Group 3.4 3.5 3.5
9 Allianz of America 3.2 3.5 3.7
10 St Paul Cos 3.0 2.9 2.6
11 Cincinnati Ins Cos 3.0 2.5 2.4
12 White Mountains Ins Group 2.7 3.7 3.7
13 Royal & SunAlliance USA 2.4 2.5 2.6
14 Safeco Ins Cos 2.1 2.6 2.9
15 Allstate Ins Group 1.7 1.9 2.1
16 Kemper Ins Cos 1.5 1.5 2.3
17 Allmerica P&C Cos 1.5 1.5 1.5
18 American Intern Group Inc 1.3 1.0 0.9
19 Auto-Owners Ins Group 1.3 1.2 1.1
20 GE Global Ins Group 1.2 1.1 1.0
21 Erie Ins Group 1.1 1.0 0.9
22 Ohio Casualty Group 1.0 0.8 0.7
23 Fairfax Financial (US) Group 1.0 1.5 1.7
24 Church Mutual Ins Co 1.0 1.0 1.0
25 Atalantic Mutual Cos 0.9 1.0 0.9
Top 25 P/C Cos. 72.6 72.7 71.5
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios (1)
Rank Group 2001 2000
1 Zurich/Farmers Group 70.7 65.7
2 Travelers/Citigroup 56.8 61.4
3 Hartford Ins Group 85.6 53.2
4 Chubb Group of Ins Cos 333.0 65.7
5 State Farm Group 76.3 76.5
6 CNA Ins Cos 77.8 61.0
7 Liberty Mutual Ins Cos 125.6 75.2
8 Nationwide Group 70.3 64.6
9 Allianz of America 70.3 70.9
10 St Paul Cos 207.9 55.6
11 Cincinnati Ins Cos 72.1 69.1
12 White Mountains Ins Group 82.8 81.8
13 Royal & SunAlliance USA 199.9 77.3
14 Safeco Ins Cos 69.9 74.6
15 Allstate Ins Group 65.6 67.9
16 Kemper Ins Cos 158.4 88.1
17 Allmerica P&C Cos 88.3 79.1
18 American Intern Group Inc 38.0 112.8
19 Auto-Owners Ins Group 86.0 83.9
20 GE Global Ins Group 79.0 80.1
21 Erie Ins Group 63.3 63.9
22 Ohio Casualty Group 58.0 69.1
23 Fairfax Financial (US) Group 61.9 98.4
24 Church Mutual Ins Co 71.3 67.4
25 Atalantic Mutual Cos 169.8 51.2
Top 25 P/C Cos. 103.0 69.2
Total U.S. P/C Cos. 94.8 68.3
% of
Adjusted Company
Loss
Ratios (1)
Rank Group 1999 Premiums
1 Zurich/Farmers Group 116.9 7.1
2 Travelers/Citigroup 94.6 8.0
3 Hartford Ins Group 65.0 11.4
4 Chubb Group of Ins Cos 83.8 11.0
5 State Farm Group 83.6 1.8
6 CNA Ins Cos 88.7 5.3
7 Liberty Mutual Ins Cos 79.1 5.4
8 Nationwide Group 66.5 4.7
9 Allianz of America 90.7 9.1
10 St Paul Cos 83.7 7.0
11 Cincinnati Ins Cos 63.7 16.3
12 White Mountains Ins Group 94.4 10.3
13 Royal & SunAlliance USA 70.1 7.6
14 Safeco Ins Cos 76.9 6.8
15 Allstate Ins Group 71.3 1.3
16 Kemper Ins Cos 97.4 4.8
17 Allmerica P&C Cos 75.9 8.6
18 American Intern Group Inc 82.9 1.3
19 Auto-Owners Ins Group 78.2 7.0
20 GE Global Ins Group 67.3 9.9
21 Erie Ins Group 69.3 6.4
22 Ohio Casualty Group 80.1 9.9
23 Fairfax Financial (US) Group 72.6 6.4
24 Church Mutual Ins Co 74.7 49.9
25 Atalantic Mutual Cos 63.2 14.4
Top 25 P/C Cos. 83.8 5.4
Total U.S. P/C Cos. 79.7 4.2
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002. For Custom data, please
call (908) 439-2200, ext. 5383.
Commercial Multiple Peril Liability, Top Writers-2001
Rank is based on 2001 direct premiums written.
($ Thousands)
2001 Direct %
Premiums Change in
Rank Group AMB # Written Premiums
1 Travelers/Citigroup 18358 $923,758 7.7
2 CNA Ins Cos 18313 739,250 13.0
3 Zurich/Farmers Group 18549 551,478 25.9
4 Hartford Ins Group 00048 487,802 15.7
5 Nationwide Group 05987 392,762 21.8
6 Allianz of America 18429 375,544 0.1
7 White Mountains Ins Group 18490 368,161 -20.3
8 Chubb Group of Ins Cos 00012 338,536 2.1
9 GE Global Ins Group 18572 299,381 30.6
10 Liberty Mutual Ins Cos 00060 295,344 7.3
11 State Farm Group 00088 293,996 17.2
12 Safeco Ins Cos 00078 252,277 -10.3
13 Cincinnati Ins Cos 04294 243,750 46.7
14 Allmerica P&C Cos 04861 211,922 12.6
15 Royal & SunAlliance USA 18371 196,508 1.2
16 Auto-Owners Ins Group 04354 184,165 20.7
17 Kemper Ins Cos 04427 181,637 13.6
18 Atlantic Mutual Cos 00178 153,755 8.6
19 Harleysville Ins 03916 134,355 18.8
20 Philadelphia Ins Cos 00476 133,095 53.9
21 Winterthur Swiss Group 05658 133,031 22.9
22 Allstate Ins Group 00008 123,386 3.2
23 St Paul Cos 00080 111,911 -21.0
24 Westfield Group 00730 107,929 14.2
25 Ohio Casualty Group 00726 100,982 14.4
Top 25 P/C Cos. $7,334,716 10.2
Total U.S. P/C Cos. $10,375,415 10.8
Market Share (%)
Rank Group 2001 2000 1999
1 Travelers/Citigroup 8.9 9.2 9.5
2 CNA Ins Cos 7.1 7.0 7.5
3 Zurich/Farmers Group 5.3 4.7 3.3
4 Hartford Ins Group 4.7 4.5 4.3
5 Nationwide Group 3.8 3.4 3.3
6 Allianz of America 3.6 4.0 4.7
7 White Mountains Ins Group 3.5 4.9 4.8
8 Chubb Group of Ins Cos 3.3 3.5 3.5
9 GE Global Ins Group 2.9 2.4 1.8
10 Liberty Mutual Ins Cos 2.8 2.9 2.6
11 State Farm Group 2.8 2.7 4.0
12 Safeco Ins Cos 2.4 3.0 3.2
13 Cincinnati Ins Cos 2.3 1.8 1.5
14 Allmerica P&C Cos 2.0 2.0 1.6
15 Royal & SunAlliance USA 1.9 2.1 2.3
16 Auto-Owners Ins Group 1.8 1.6 1.4
17 Kemper Ins Cos 1.8 1.7 1.5
18 Atlantic Mutual Cos 1.5 1.5 1.3
19 Harleysville Ins 1.3 1.2 1.2
20 Philadelphia Ins Cos 1.3 0.9 0.7
21 Winterthur Swiss Group 1.3 1.2 0.9
22 Allstate Ins Group 1.2 1.3 1.3
23 St Paul Cos 1.1 1.5 1.5
24 Westfield Group 1.0 1.0 0.9
25 Ohio Casualty Group 1.0 0.9 0.8
Top 25 P/C Cos. 70.7 71.1 69.5
Total U.S. P/C Cos. 100.0 100.0 100.0
Adjusted Loss Ratios (1)
Rank Group 2001 2000 1999
1 Travelers/Citigroup 67.6 54.2 53.1
2 CNA Ins Cos 127.1 85.2 83.4
3 Zurich/Farmers Group 42.2 60.6 -7.6
4 Hartford Ins Group 16.4 43.1 47.1
5 Nationwide Group 46.0 52.1 65.8
6 Allianz of America 77.8 67.2 69.2
7 White Mountains Ins Group 75.8 85.0 42.4
8 Chubb Group of Ins Cos 47.7 57.6 70.7
9 GE Global Ins Group 72.4 83.4 74.9
10 Liberty Mutual Ins Cos 82.4 57.8 62.4
11 State Farm Group 75.6 62.9 28.5
12 Safeco Ins Cos 48.0 57.2 51.2
13 Cincinnati Ins Cos 62.1 49.6 55.7
14 Allmerica P&C Cos 58.2 48.7 56.9
15 Royal & SunAlliance USA 50.0 51.8 41.5
16 Auto-Owners Ins Group 67.6 80.3 67.0
17 Kemper Ins Cos 49.8 48.7 41.5
18 Atlantic Mutual Cos 19.4 45.9 43.7
19 Harleysville Ins 60.4 57.0 60.7
20 Philadelphia Ins Cos 47.8 58.1 61.4
21 Winterthur Swiss Group 38.3 44.1 35.8
22 Allstate Ins Group 32.2 24.3 26.9
23 St Paul Cos 83.3 50.8 61.7
24 Westfield Group 46.2 64.8 73.0
25 Ohio Casualty Group 50.7 55.4 68.0
Top 25 P/C Cos. 63.2 61.1 52.8
Total U.S. P/C Cos. 64.0 61.3 57.0
% of
Company
Rank Group Premiums
1 Travelers/Citigroup 7.7
2 CNA Ins Cos 6.0
3 Zurich/Farmers Group 2.6
4 Hartford Ins Group 6.4
5 Nationwide Group 3.6
6 Allianz of America 7.2
7 White Mountains Ins Group 9.6
8 Chubb Group of Ins Cos 5.5
9 GE Global Ins Group 15.9
10 Liberty Mutual Ins Cos 3.1
11 State Farm Group 0.8
12 Safeco Ins Cos 5.6
13 Cincinnati Ins Cos 9.0
14 Allmerica P&C Cos 8.4
15 Royal & SunAlliance USA 4.2
16 Auto-Owners Ins Group 6.9
17 Kemper Ins Cos 3.8
18 Atlantic Mutual Cos 15.9
19 Harleysville Ins 11.7
20 Philadelphia Ins Cos 28.4
21 Winterthur Swiss Group 7.6
22 Allstate Ins Group 0.6
23 St Paul Cos 1.7
24 Westfield Group 9.3
25 Ohio Casualty Group 6.5
Top 25 P/C Cos. 4.0
Total U.S. P/C Cos. 2.9
(1)Adjusted loss ratio is direct losses incurred divided by the
difference between direct premiums earned and dividends paid to
policyholders.
Source: A.M. Best Co. data, as of June 28, 2002. For custom data, please
call (908) 439-2200, ext. 5383.
Workers' Comp Indemnity Claim Costs
The rate of change in workers' comp indemnity claim costs has
accelerated since 1995.
Annual Change 1991-1995:-02%
Annual Change 1996-2001:+6.6%
Accident Year Indemnity Claim
Costs ($ Thousands)
1991 -1.0%
1992 -3.1%
1993 -2.8%
1994 +1.8%
1995 +2.2%
1996 +6.3%
1997 +4.5%
1998 +7.7%
1999 +5.6%
2000 +9.9%
2001 * +6.0%
* Projected
Based on data through Dec. 31, 2002, dveloped to ultimate
Based on the states where NCCI provides ratemaking services
Excludes the effects of deductible policies
Source: NCCI Holdings Inc.
Note: Table mad from bar graph
Workers' Comp Residual Market Premium
Employees who are turned down for workers' comp coverage by voluntary
market carriers often rely on the residual market. Premium volume for
that market has risen for the past two years.
Policy Year $ Billions
1985 1.20
1986 2.10
1987 2.60
1988 * 2.80
1989 * 3.50
1990 * 4.00
1991 * 4.40
1992 * 4.80
1993 4.10
1994 3.10
1995 2.00
1996 1.00
1997 0.60
1998 0.30
1999 0.30
2000 ** 0.35
2001 ** 0.62
Based on data through Dec. 31, 2001
* Excludes Maine Residual Market Pool
** Projected to ultimate
Source: NCCI Holdings Inc.
Note: Tabe made from bar graph
Workers' Comp Medical Claim Costs
Medical claim costs have been boosted by the rising cost of health care.
Annual Change 1991-1995: +3.2%
Annual Change 1996-2001: +7.5%
Accident Year Medical Claim Cost
($ Thousands)
1991 +6.8%
1992 +1.3%
1993 -2.1%
1994 +4.8%
1995 +5.2%
1996 +6.6%
1997 5.9%
1998 +8.4%
1999 +4.9%
2000 +8.1%
2001 * +11.0%
* Projected
Based on data through Dec. 31, 2001, developed to ultimate
Based on the states where NCCI provides ratemaking services
Excludes the effects of deductible policies
Source: NCCI Holdings Inc.
Note: Table made from bar graph
RELATED ARTICLE: The Role of Mental Stress Coverage in Workers' Comp Six weeks after the World Trade Center destruction, the New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. Department of Health questioned 414 people who lived near the site and found that 40% reported symptoms suggestive of suggestive of Decision making adjective Referring to a pattern by LM or imaging, that the interpreter associates with a particular–usually malignant lesion. See Aunt Millie approach, Defensive medicine. Post Traumatic Stress Disorder Post traumatic stress disorder (PTSD) A disorder that occurs among survivors of severe environmental stress such as a tornado, an airplane crash, or military combat. Symptoms include anxiety, insomnia, flashbacks, and nightmares. . The finding indicated "the potential for thousands of people in lower Manhattan Lower Manhattan is the southernmost part of the island of Manhattan, the main island and center of business and government of the City of New York. Lower Manhattan is generally defined as the area delineated on the north by Chambers Street, on the west by the Hudson River (North who could benefit from supportive supportive adjective Pertaining to a Pt management philosophy in which only the Sx of a particular condition are treated; supportive measures are often taken when no specific and/or effective therapy is available or accessible–eg, viral meningitis, or counseling," the department said. To Peter Rousmaniere, a consultant to insurers and employers on disability management and insurance operations, this report drives home what almost any model of a terrorist-related loss shows--that the most frequent kind of claim arising from a terrorist attack is likely to be a mental stress claim. And if the attack were to occur at a workplace, these claims would fall under the heading of workers' compensation. But there's a problem here. "Mental stress claims, particularly 'mental only' claims, are in most states either denied outright or are subject to such tortuous tor·tu·ous adj. Having many turns; winding or twisting. tortuous adjective Referring to complexly twisted thing. Cf Tortious. redefinition Noun 1. redefinition - the act of giving a new definition; "words like `conservative' require periodic redefinition"; "she provided a redefinition of his duties" definition - a concise explanation of the meaning of a word or phrase or symbol that claimants are tacitly tac·it adj. 1. Not spoken: indicated tacit approval by smiling and winking. 2. a. encouraged to manipulate manipulate To cause a security to sell at an artificial price. Although investment bankers are permitted to manipulate temporarily the stock they underwrite, most other forms of manipulation are illegal. the facts in order to obtain coverage," Rousmaniere said. The National Institute of Health defines Post Traumatic Stress Disorder as an anxiety disorder anxiety disorder n. Any of various psychiatric disorders in which anxiety is either the primary disturbance or is the result of confronting a feared situation or object. that affects about 5.2 million American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of adults in a given year. About 30% of Vietnam veterans This article is about the French band. For veterans of the Vietnam War, see Vietnam veteran. The Vietnam Veterans were a six-person French psychedelic group that released six records in the 1980s. The band was praised by many alternative music publications. experienced this disorder disorder /dis·or·der/ (dis-or´der) a derangement or abnormality of function; a morbid physical or mental state. acute stress disorder at some point after the war, and it also occurs frequently after violent personal assaults such as rape, mugging or domestic violence; terrorism; natural or human-caused disasters; and accidents. This disorder is the most common psychiatric psy·chi·at·ric adj. Of or relating to psychiatry. psychiatric adjective Pertaining to psychiatry, mental disorders disorder following a traumatic event A traumatic event is an event that is or may be a cause of trauma. The term may refer to one of the followiong:
tr.v. character·ized, character·iz·ing, character·iz·es 1. To describe the qualities or peculiarities of: characterized the warden as ruthless. 2. by the following behaviors: * persistent Permanent. See persistent data, persistent name and persistent object. persistent - persistence nightmares or flashbacks of the trauma trauma /trau·ma/ (traw´mah) (trou´mah) pl. traumas, trau´mata [Gr.] 1. injury. 2. psychological or emotional damage. ; * an avoidance of reminders of the trauma or a feeling of "numbness numbness /numb·ness/ (num´nes) anesthesia (1). Numbness Loss of feeling or sensation. Mentioned in: Topical Anesthesia ," with sufferers having difficulty responding normally to average life situations; * edginess, sleeping problems, angry outbursts or excessive watchfulness; * depression, and the need to abuse drugs and/or and/or conj. Used to indicate that either or both of the items connected by it are involved. Usage Note: And/or is widely used in legal and business writing. alcohol as a way of medicating painful feelings. RIMS RIMS Risk and Insurance Management Society, Inc. RIMS Response Information Management System RIMS Regional Input-Output Modeling System RIMS Resonance Ionization Mass Spectrometry RIMS Ranging and Integrity Monitoring Stations RIMS Resource Information Management System Looks at Mental Stress The disorder was the topic of a seminar that Rousmaniere co-chaired at the Risk and Insurance Management Society Risk and Insurance Management Society, Inc. (RIMS), founded in 1950, is a membership-based industry trade group, representing nearly 4,000 industrial, service, nonprofit, charitable, and governmental entities and serves more than 10,000 risk management professionals around the Inc.'s annual meeting in April. He worked with Dr. Jennifer Jennifer became a common first name for females in English-speaking countries during the 20th century. The name Jennifer is a Cornish variant of Guinevere, deriving ultimately from Proto-Celtic *windo-seibaro- "white ghost", via Brythonic *wino-hibirā (cf. Christian Christian flees the City of Destruction. [Br. Lit.: Pilgrim’s Progress] See : Escape Christian travels to Celestial City with cumbrous burden on back. [Br. Lit. , president of Webility Corp., a disability management firm, to coach risk managers on what to expect from employees in the event of a traumatic event at their companies or in their communities. In the audience was a risk manager who had survived the collapse of the World Trade Center On September 11, 2001, the two main towers of the World Trade Center complex were each hit by aircraft as part of the September 11, 2001 attacks. The south tower (2 WTC) collapsed at 9:59 a.m., less than an hour after being hit, and the north tower (1 WTC) followed at 10:28 a.m. and another who had served as an emergency medical services An Emergency medical service (abbreviated to initialism "EMS" in many countries) is a service providing out-of-hospital acute care and transport to definitive care, to patients with illnesses and injuries which the patient believes constitutes a medical emergency. worker at the Murrah Murrah a group of breeds of Indian (or European) buffalo including the Kundi, Nili-Ravi and Murrah. Federal Building bombing in Oklahoma City Oklahoma City (1990 pop. 444,719), state capital, and seat of Oklahoma co., central Okla., on the North Canadian River; inc. 1890. The state's largest city, it is an important livestock market, a wholesale, distribution, industrial, and financial center, and a farm . "In many workers' compensation systems, PTSD PTSD posttraumatic stress disorder. PTSD abbr. posttraumatic stress disorder Post-traumatic stress disorder (PTSD) may not even be covered," Christian advised her audience. "What if an event happens to your work force?" Every company needs a management strategy to cope with these traumas, she said. This calls for the designation DESIGNATION, wills. The expression used by a testator, instead of the name of the person or the thing he is desirous to name; for example, a legacy to. the eldest son of such a person, would be a designation of the legatee. Vide 1 Rop. Leg. ch. 2. 2. of a response team whose members should include company staff and vendors. The plan also must draw upon expert resources, such as grief Grief Adonais Shelley’s elegy for John Keats. [Br. Lit.: “Adonais” in Benét, 10] Aedon changed to nightingale for murdering son; her song funereal. [Gk. counselors, and line them up in advance for possible assistance in the future. When something bad happens, companies must launch an immediate response, strengthening social supports for victims and getting good care to people right away, she said. Claims will have to be triaged according to how serious--or uncomplicated--the diagnosis appears to be, Christian noted. Uncomplicated cases tend to improve in 90 days, but in the cases of people who panicked pan·ic n. 1. A sudden, overpowering terror, often affecting many people at once. See Synonyms at fear. 2. A sudden widespread alarm concerning finances, often resulting in a rush to sell property: during the event or who fell into depression afterwards af·ter·ward also af·ter·wards adv. At a later time; subsequently. afterwards or afterward Adverb later [Old English æfterweard] Adv. 1. , recovery is more difficult. And those already suffering from a mental illness or substance abuse problem when the incident occurs tend to be affected longer, with some never recovering from this blow, Christian said. Companies Need Plans Rousmaniere thinks there are very few companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. that have strategic plans capable of coping with the next terrorist event. "Part of it has to do not simply with the work-site response, which might be well thought out, but you then have a claims response, and that might not be well thought out," he said. "How you prepare a claims response in a state which makes it exceedingly ex·ceed·ing·ly adv. To an advanced or unusual degree; extremely. exceedingly Adverb very; extremely Adv. 1. difficult to recognize mental claims is an interesting challenge." One of the inherent problems is that the boundaries Natural or artificial separations or divisions between adjoining properties that show their limits. Boundaries are used to establish private and public ownership by determining the exact location of the points at which one piece of land is distinguishable from another. are too vague when it comes to mental claims, Rousmaniere said. "This is an ongoing problem with diagnosis treatment, because behavioral behavioral pertaining to behavior. behavioral disorders see vice. behavioral seizure see psychomotor seizure. conditions are subject to a great deal of looseness in use and the diagnosis needs to be done in a fairly formal way," he said. "However, people feel very free to use terms without a clear sense of the diagnosis." Also, it can be difficult to confirm the diagnosis through some kind of evaluation. "There's no way in which you can put the patient in a room, photograph or X-ray X-ray Electromagnetic radiation of extremely short wavelength (100 nanometres to 0.001 nanometre) produced by the deceleration of charged particles or the transitions of electrons in atoms. him, and come out with an objective finding that there is PTSD," he said. Third, it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have well known that other factors, including depression, can contribute to the development and severity of Post Traumatic Stress Disorder. Rousmaniere said it would be very helpful if the insurance industry undertook a study of how these conditions and their causes could be properly defined. He suggested a review of "the last dozen horrific hor·rif·ic adj. Causing horror; terrifying. [Latin horrificus : horr  re, to tremble + -ficus, -fic. events that clearly have a work-related component, and they would go
from the World Trade Center back to the Connecticut Connecticut, state, United StatesConnecticut (kənĕt`ĭkət), southernmost of the New England states of the NE United States. It is bordered by Massachusetts (N), Rhode Island (E), Long Island Sound (S), and New York (W). State Lottery A game of chance operated by a state government. Generally a lottery offers a person the chance to win a prize in exchange for something of lesser value. Most lotteries offer a large cash prize, and the chance to win the cash prize is typically available for one dollar. shooting of 1990." Rousmaniere said it's his understanding that that kind of research has not been done. "But with a team of claims executives, attorneys and clinicians, I think some good can come out of it," he said. "At the present time, there is very little research, and part of that is due to the fact that there is a proclivity pro·cliv·i·ty n. pl. pro·cliv·i·ties A natural propensity or inclination; predisposition. See Synonyms at predilection. [Latin pr to tuck these mental health conditions under physical conditions," Rousmaniere said. "Therefore, while there may be in effect a lot of payment for mental conditions, it's labeled on claims records as [being for] physical conditions." Also, he pointed out, there is a bewildering be·wil·der tr.v. be·wil·dered, be·wil·der·ing, be·wil·ders 1. To confuse or befuddle, especially with numerous conflicting situations, objects, or statements. See Synonyms at puzzle. 2. , irrational ir·ra·tion·al adj. Not rational; marked by a lack of accord with reason or sound judgment. irrational adjective Unreasonable, illogical variation, state by state, and sometimes within some states, on the approach to this issue. "What you have here is a situation where it's almost as if the outcome of a baseball game Noun 1. baseball game - a ball game played with a bat and ball between two teams of nine players; teams take turns at bat trying to score runs; "he played baseball in high school"; "there was a baseball game on every empty lot"; "there was a desire for National League is defined by random changes by the umpire A person chosen to decide a question in a controversy that has been submitted to Arbitration but has not been resolved because the arbitrators cannot reach agreement, or one who has been chosen to be a permanent arbitrator for the duration of a collective bargaining agreement. on the size of the strike zone," Rousmaniere said. "And that's, understandably, very disturbing." |
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