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reinsuranceGuru: "19 January 2009
R.M. Stats on the Future of the Economy and Insurance
RIMS | RM Magazine: 'Stats on the Future of the Economy and Insurance
Friday Jan 16, 2009. According to RIMS' Risk Magazine, the following are some figures from leaders in the property/casualty insurance industry in regards to the future of both the economy and the insurance industry:

Industry Performance
66% of executives in the P&C industry expect financial woes to persist
52% of respondents do not believe there will be an improvement in personal auto insurance
55% do not expect an improvement in homeowners insurance
74% do not expect an improvement in workers compensation
62% do not expect an improvement in commercial lines

Premium Growth
50% believe that premium growth will remain flat
33% believe it will be negative
17% believe it will be positive

The Issue of Torts
63% believe that tort trends will deteriorate in 2009
32% believe they will stay the same
5% believe they will improve

Investments
59% expect another down year in the equity markets
76% expect consolidation among insurers and reinsurers

The statistics are derived from the responses of nearly 250 representatives from property and casualty insurance and reinsurance companies during the Property/Casualty Insurance Joint Industry Forum presented by the Insurance Information Institute. '"