Fitch Ratings News

Billions at Stake in Opioid Suits, But It’s No Tobacco Windfall

An Oklahoma case, the first of more than 1,600 lawsuits filed by U.S. state and local governments against opioid makers to go to trial, could serve as a key benchmark for governments hoping to recoup costs associated with the public …

Jet Funding May Add to Boeing’s $100 Million-a-Month Max Pain

Boeing Co.’s 737 Max fiasco could make the aircraft maker liable for planes bundled into debt, adding to total costs the company may incur in the aftermath of the Ethiopian Airlines crash. Customers of the company could demand Boeing compensate …

Fitch: Workers’ Comp a Prime Target for Insurance Innovation

The workers’ compensation segment of the property/casualty insurance business is a prime target for technology investment to maintain competitiveness and bolster performance, according to Fitch Ratings. “As the largest U.S. commercial lines segment, workers’ compensation is a focal point for …

Industry Expected to Withstand Insured Losses From Florence

Changes in the path and intensity of Hurricane Florence are keeping forecasters, government officials and insurers on their toes. An update by AIR Worldwide yesterday indicated that storm surge heights of 9-13 feet could be expected. “Florence’s slow motion just …

Fitch: Workers’ Comp Profits Remain Strong, Weaker Pricing Ahead

The U.S. workers’ compensation insurance market reported strong underwriting performance for the third consecutive year in 2017, with an industry statutory combined ratio of approximately 92 percent, according to Fitch Ratings. However, a steady decline in premium rates from increased …

Fitch: U.S. P/C Personal Lines Results Decline Despite Auto Improvement

Underwriting losses in the U.S. P/C personal lines segment moved higher for the fourth straight year in 2017, though this time another segment drove the increase, according to Fitch Ratings in a new report. Personal lines are the largest major …

Fitch: Experts Forecast a Near Normal Hurricane Season for 2018

After enduring one of the more active hurricane seasons in recent memory, U.S. P/C insurers are well positioned for what is pointing to an average hurricane season in 2018, according to Fitch Ratings in its annual hurricane season preview report. …

Fitch: P/C Carriers Face First Underwriting Loss in 6 Years

Property and casualty (re)insurers (P&C) endured a trying 2017 with a compilation of latest financial results for a group of public companies showing an aggregate underwriting loss for the first time since 2011, according to Fitch Ratings in a new …

D&O Litigation Trends to Watch in 2017

According to a Fitch Ratings report issued last year, the directors & officers (D&O) market “has great notoriety relative to its size.” Representing a small segment of the property/casualty market, D&O coverage equals about one percent of total industry direct …

Uptick in Auto Claims Severity Due in Part to Distracted Drivers

Earlier this year, Fitch Ratings reported that the commercial auto insurance market suffered its fifth consecutive year of underwriting losses in 2015. The commercial auto combined ratio averaged 106 percent from 2011-2015, Fitch reported. According to James Auden, managing director …