NU Online News Service, April 29, 12:13 p.m. EDT
Financial impairments at 11 property and casualty insurance companies were severe enough to trigger regulatory action last year, but none of the problems were the direct result of catastrophe losses, A.M. Best reports.
Against the backdrop of news headlines about 2011 catastrophe activity and market implications, researchers at the Oldwick, N.J.-based rating agency released a report finding that 2010 impairments were dominated by commercial-lines insurers whose difficulties arose from deficient loss reserves and inadequate pricing.
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