U.S. INSURANCE GROUP
ACE USA (a)
Wells Fargo
QBE America
Great American
Fireman’s Fund
Endurance USA
CUNA Mutual
Farmers Mutual Hail Ins Co
RenRe North America
Chartis
XL America
Austin Mutual Insurance Co
Iowa Farm Bureau
Munich American
HOLDING COMPANY
GROUP
ACE Limited
Wells Fargo
QBE Insurance
American Financial Group
Allianz
Endurance Specialty
NA
NA
RenaissianceRe Ltd.
American International Group
XL Capital Ltd.
NA
NA
Munich Re
Country Insurance & Financial
Services
CROP DIRECT-
WRITTEN
PREMIUMS
2010
MILLIONS
1,587
1,132
826
676
643
517
497
316
309
253
232
159
144
110
INSURANCE
FINANCIAL
STRENGTH
RATING OF
LEAD U.S.
COMPANY
A1 stable
NR (b)
NR
A2 stable
NR
NR
NR
NR
NR
A1 stable
A2 stable
NR
NR
Aa3 stable
By The Numbers
Florida Hurricane
Catastrophe Fund
as of Dec. 31, 2010
CROP
MARKET
SHARE
21%
15%
11%
9%
8%
7%
6%
4%
4%
3%
3%
2%
2%
1%
Country Insurance
74
1%
NR
Total Premium (Contract Year 2010-11)
$1.3 billion
Fund Balance (Net Worth)
$5.9 billion
Exposure
$2.16 trillion
Projected Claims-Paying Capacity*
$18.78 billion
Assessment Base:
$33.3 billion
E Jack nicholson, coo of Florida’s hurricane fund, told state legislators the fund is
on “shaky ground” and that ongoing turmoil
in the world financial markets is raising questions about whether the fund could borrow
enough money to help insurers after a hurricane, according to the Associated Press.
* Projected claims-paying capacity based on
estimates of borrowing capacity
Source: Florida Hurricane Catastrophe Fund
Sources: Highline Data, Moody’s; Direct-Premiums Written are before cessions to private rein-
surers and to the federal government under the Standard Reinsurance Agreement (SRA).
Notes: (a) ACE acquired the shares of Rain & Hail that it did not already own in December
michigan no-fault
auto insurance
Market Share (2010)
E as part of its deficit-reduction plan, the Obama administration proposes to further
reduce crop-insurance subsidies, which Moody’s Investors Service says could accelerate a consolidation process in the agricultural-insurance sector that is already long underway. The plan would
reduce crop-insurance subsidies by an estimated $8.3 billion over 10 years.
Current uncontained fires (size of more than 100 acres in timber; 300 acres in lighter fuels, such as grass, or where homes were lost)
texas Wildfires
LOCATION ACRES
Shackelford, Brewster County 3,000
Copper Breaks, Foard County 8,080
Bastrop County Complex,
Bastrop County
34,068
101 Ranch, Palo Pinto County 6,555
%
CONTAINED
0
90
98
State Farm Group
20.2%
Automobile Club of MI Group
17.2%
Auto Owners Group
9.7%
Progressive Group
9.1%
Hanover Insurance Group
6.6%
95
A texas forest service responded to
eight new fires for 3,076 acres on sept. 26.
A from sept. 20-26 the texas forest service
responded to 81 fires over 14,232 acres.
Source: Texas Forest Service figures
E While earlier loss estimates suggested that insured losses from the wildfires in Texas
this year would be around $250 million, Mark Hanna, public-relations manager for the Insurance
Council of Texas, says losses could be twice that amount. He says losses from the Bastrop fire
alone will hit the $250 million mark, making it the costliest fire in Texas history.
facts:
J Current law offers unlimited medical care
J Policy covers up to $500,000
J State-sponsored backstop funded by assessments covers medical costs over $500,000
Source: Highline Data
E in an attempt to stabilize Michigan’s no-fault
auto-insurance system, Rep. Pete Lund, R-Shelby
Township, has introduced HB 4936, which would
set up a fee schedule for medical procedures as
well as cap coverage under personal injury at either
$5 million, $1 million, $500,000 or $250,000,
depending on the coverage selected by the insured.
