Business Services Industry
4: Scottsdale Insurance Co.(Brief Article)
Business Insurance, August, 2002
Scottsdale Insurance Co. fell into the No. 4 spot, with a respectable 8.3% growth rate that nevertheless seemed anemic compared to its competitors. But Gary Tiepelman, vp-underwriting, said the Scottsdale, Ariz.-based surplus lines insurer is exceeding its expectations this year and will likely regain its position next year.
Scottsdale's 2001 premium volume on a direct, nonadmitted basis, was $608.5 million, up from $561.9 million in 2000. Part of the reason for Scottsdale's slower growth, when compared with some other surplus lines companies, is its cautious underwriting style, Mr. Tiepelman said. ``Although it has gone up recently, our hit ratio is now in the vicinity of 15% to 18%. In the past, we've been at 10% to 12%,'' Mr. Tiepelman said,...
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