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S&P Says P-C Reserves Inadequate For '97 To '01

Standard & Poor's in a report said for the nine months of 2005, p-c insurers lost ground in reserving for the years prior to 2001, experiencing $16 billion in adverse development for that period. The

By Mark E. Ruquet | Updated on February 24, 2006

Despite improvements in underwriting results, property-casualty insurers remain underreserved for accident years 1997 to 2001 and have lost ground in trying to catch up, a rating firm said today.

Standard & Poor’s in a report said for the nine months of 2005, p-c insurers lost ground in reserving for the years prior to 2001, experiencing $16 billion in adverse development for that period. The industry was able to reserve $13 billion during the two prior years.

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