NAII: Overview on Homeowners Trends
Monday, September 16th, 2002 PropertyGrowing losses and expenses from an increase in mold claims, weather-related losses, and a significant reduction in investment income have contributed to rising rates for many homeowners' insurers, according to the National Association of Independent Insurers (NAII). "These factors will continue to affect the market in the near term," said Don Griffin, NAII assistant vice president of business and personal lines, during a presentation Sept. 13 to real estate professionals concerned about homeowners' insurance pricing, affordability and availability. "But in those states where companies have the ability to compete on price and product, market forces will keep costs as low as possible and help insurance become more available and affordable in the coming months. "The impact from the growing mold hysteria, stock market collapse, increasing industry losses and major players pulling out of certain homeowners'
