A.M. Best: First-Half 2018 P/C Results Rise

The U.S. property/casualty industry's net underwriting income improved in the first half of 2018 to $5.3 billion, compared with a $5.0 billion underwriting loss in the same prior-year period. This financial review is detailed in a new Best's Special Report titled, " A.M. Best First Look—First Half 2018 Property/Casualty Financial Results (subscription)."

The first-half 2018 underwriting results were driven by growth in net premiums written of 13.3% over the prior-year period, which offset a 3.8% increase in losses and loss adjustment expenses. With a more normalized level of catastrophe losses in first-half 2018, the industry's combined ratio improved 4.5 points from the prior-year period to 96.4, the lowest six-month period combined ratio for the last five years.

The property/casualty industry also recorded a $3.7 billion increase in net investment income and a $2.0 billion increase in realized capital gains. Coupled with the strong underwriting improvement, these items boosted industry net income to $33.6 billion, an $18.7 billion increase from the prior-year period.

Downgrades Rise But Upgrades Outnumber Them

Virtual Exhibit Hall

Registration is now open for the Louisiana Department of Insurance Annual Health Care Conference to be held on Tuesday, October 23, 2018 at the Crowne Plaza Baton Rouge Hotel at 4728 Constitution Avenue in Baton Rouge. The registration fee for the Health Care Conference is $95 per individual. The conference will begin at 8:30 a.m. and end at approximately 4:00 p.m.

A special hotel rate of $97 per night for October 22 and 23 is available at the Crowne Plaza Baton Rouge Hotel. For reservations please call (225) 925-2244 and mention the Louisiana Department of Insurance Health Care Conference rate.

This health conference has been approved for six hours of continuing education credit for Life, Health and Accident producers licensed by the Louisiana Department of Insurance. In order to receive CE credit, producers must attend the conference presentations. Failing to attend the conference program or leaving early will result in either partial credit or no credit being earned.

Exhibitor spaces are going fast but contact Julie Freeman at jfreeman@ldi.la.gov for exhibitor information.

Please contact Crystal Stutes at (225) 342-4311 or Julie Freeman at (225) 219-4772 with any questions. You may also email the Department at healthcareconf@ldi.la.gov.

According to a new Governors Highway Safety Association (GHSA) study, state governments should consider requiring licenses for self-driving car operators who could be called upon to seize control of an autonomous vehicle (AV). The report also advises states to "update traffic laws to accommodate AVs and help to prepare state driver licensing agencies to identify and register AVs and establish law enforcement policies and procedures regarding AV operations and train all patrol officers in these policies and procedures."

The group said the new requirements for licensing self-driving cars are needed because autonomous vehicles "for the foreseeable future will share driving responsibility with humans, and are likely do so for many decades."

Small Business Owners Have "Record High Optimism"