Insolvencies Up In 02; Trend Could Continue The number of property-casualty insurance failures has jumped in the past year despite the hardening pricing environment, according to two separate studies by A.M. Best Co. and Standard & Poor's Ratings Services.
The S&P study identified 39 failed insurers last year, with 28 on the p-c side, up from 24 p-c failures in 2001.
The A.M. Best report, using slightly different criteria, said 38 p-c insurers were placed either under regulatory supervision or into liquidation last year, compared to 30 in each of the two prior years, 2001 and 2000.
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