We’re seeing the results of insurance carrier reactions to the losses in 2011. How has 2011 affected your agency? Attend the MIAA Convention on May 14th and 15th to learn how your agency can navigate through the hard market in a way that surpasses the competition. FOLLOWING ARTICLE BY CHAD HEMENWAY, PROPERTYCASUALTY360.COM April 17, 2012 The 108.2 combined ratio posted by the private property and casualty industry in the U.S. was the worst since 2001.
According to an analysis of 2011 results by ISO, the Property Casualty Insurers Association of America (PCI) and the Insurance information Institute (I.I.I.), insurers’ yearly net income fell 45.6 percent to $19.15 billion from $35.2 billion in 2010 as net underwriting losses grew to $36.5 billion from $10.5 billion. Entire Article: http://www.propertycasualty360.com/2012/04/17/cats-drive-highest-us-pc-year-end-combined-ratio-s?t=es-specialty&utm_source=PC360DailyeNews&utm_medium=eNL&utm_campaign=PC360_eNLs