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Fitch Ratings Pessimistic on Life Exposure to Comp Still

Thursday, October 21, 2004 | 0

The ongoing exposure of U.S. life insurers to workers' compensation carve-out business continues to be mired in litigation proceedings and arbitration between the direct writers, reinsurers, and retrocessionaires. Fitch believes that the current state of ongoing settlement negotiations is very fluid and expects that settlements are increasingly likely over the next 12-18 months. Based on Fitch's view that life insurers have not fully reserved for this exposure, Fitch further believes that additional charges are forthcoming. In a report titled 'Workers' Compensation Carve-Out Revisited: Why...

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