RJ and Makay

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The National Insurance Crime Bureau (NICB) logged a record 100,450 questionable insurance claims in 2011, a 9.4% increase from 2010 and the highest ever in the bureau’s 100 year history, the NICB said.  There was also a 19% rise in suspicious claims activity from 2009 to 2011.  About 1,100 property/casualty companies and self-insured organizations are NICB members.

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Private U.S. property/casualty insurers’ net income after taxes declined to $7.8 billion in the first quarter of 2011 from $8.9 billion in Q1 2010, with insurers’ annualized rate of return on average policyholders’ surplus decreasing to 5.6% from 6.8%, according to ISO.  Reflecting insurers’ $7.8 billion in net income after taxes, policyholders’ surplus rose $7.8 billion, or 1.4%, to a record $564.7 billion at March 31, 2011, from $556.9 at December 31, 2010.

Analysts at Conning Research and Consulting say the property casualty insurance industry can expect premium growth of between 3 and 4 percent in 2011, and about 5 percent for the following two years.

Through 2013, premium growth rates for the industry will be “well short of what would be considered a meaningful turn in the underwriting cycle,” says Stephan Christiansen, director of research at Conning.