Is the hard market just around the corner?  While that is certainly a complex question to answer, there are at least some encouraging signs.  According to AM Best, the first six month combined ratios for the property and casualty industry were dismal as carriers suffered the results of relaxed underwriting standards and reduced pricing.  Adding to the mayhem are poor investment returns as carriers face the impact of a struggling investment marketplace.  And finally AIG, once thought of as one of the untouchables, was thrown a government lifeline hours before declaring bankruptcy.  Controlling roughly 11% of the domestic commercial insurance marketplace, AIG is facing eroding investor and policyholder confidence that will almost certainly have a large impact on market conditions.            

     Hard market, or a continuation of the soft market?  Hard to say for certain.  Interstate has been here for you though, in both good times and bad, with what we firmly believe to be the best array of commercial carriers in the marketplace.            

     In this issue, Auto Department News announces expanded state authorities in our auto department, and finishes with an article relating to a common coverage question.  In P & C News, Connie Kennedy covers our new binding authorities with Ironshore Specialty and United Specialty.  In Accounting News, John Maurizio wades in with an article relating to Mountain Top Premium Finance Company.            

     We hope that you continue to find the newsletter informative and interesting.  Thanks to all for your business and support!  

Denny Beecher
Commercial Auto Underwriter

Auto News

Interstate Expands Coverage Territory with Northland
     Effective 10-1-08, we have expanded our non-fleet coverage territory with Northland to include the states of Delaware, Indiana, Kentucky, New Jersey, Ohio, and Virginia.
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Interstate Expands Coverage Territory with Canal
     We are pleased to announce that effective 08-01-08, we have expanded our contract with Canal to include the state of Maryland.
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Towing Coverage for Commercial Autos
     Perhaps no single coverage is as misunderstood as towing coverage for commercial automobiles.
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P & C News

New Binding Authority!!!
    We are very excited about adding Ironshore Specialty (A- XI) for Pennsylvania, West Virginia, Ohio and Delaware, and United Specialty (A VIII) for Maryland and Virginia to our list of insurance companies...
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Just a phone call away
     Need a quick premium indication on property or general liability...
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Accounting News

Mountain Top Premium Finance - Making a Good Decision
     Make a good decision for your insured and consider using Mountain Top for your financing needs.
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