A.M. Best Finds P-C Reserves Still Deficient

NU Online News Service, Oct. 6, 2:55 p.m. EDT?A.M. Best, in a new report, issued a fresh warning that the property-casualty insurance industry as a whole, despite considerable reserve charges in recent years, still carries overall reserve positions that are deficient.[@@]

Best, based in Oldwick, N.J., observed in its special report that reserve charges totaled almost $47 billion over the past three calendar years for the p-c industry, but it warned that the industry's reserves could still be deficient "by as much as $67 billion, or approximately 19 percent of policyholder surplus."

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