Insurance Center

Although the recent downturn in the economy is also having its effects within the property and casualty community there have been some improvements. The overall direction however, has been down. Though there was for instance, a rise in mortgage and financial guaranty insurers’ net written premiums of 4 percent in the year 2008, to $8.5 billion, the loss and loss adjustment expenses rose heavily by 141.2 percent to $26 billion. In response to this, from 149.1 percent in 2007, there was a jump in 2008 of their combined ratio, to 299.3 percent.