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Claims Focus - US P&C market still weak says ISO.
(From Reinsurance)
The US property and casualty (P&C) market is still recovering from the after-effects of losses from the 11 September attacks and low premium growth in the 1990s, according to a new study by the Insurance Services Office (ISO).
The study claims that despite posting the largest premium increase since 1986 in 2002, the US industry's surplus fell by $4.4bn, from $289.6bn to $285.2bn, mostly because of capital losses in the stock market.
Premiums rose by more than 14%, with losses slowing to 3%, ...
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