Articles by Mark Hollmer

With TRIA Renewal Efforts Killed, Some Predict Market Chaos

Property/casualty insurance industry groups, business associations and observers alike were quick to condemn the death of TRIA renewal for 2014. Without federal terrorism reinsurance in place for 2015, they predicted canceled coverage, market chaos and more unless the measure can …

Insurers’ Winter Storm Losses to Climb Due to Polar Vortex: I.I.I.

Insured losses from winter storms in the U.S. will climb well above $2.5 billion in 2014, double the annual average over the previous two decades. The Insurance Information Institute says the polar vortex will be responsible for much of the …

MyPath Portal: Can It Lure Millennials to Insurance Careers?

With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their solution: MyPath, an online …

MyPath Portal Aims to Attract Millennials to Insurance Careers

With the insurance industry employee base rapidly aging and retiring, a number of companies and organizations in the field have come up with something that they hope will draw more young adults into the sector. Their solution: MyPath, an online …

GNY Insurance Cos.’ Heck to Retire; Daughter to Succeed Him As CEO

Warren Heck, the long-time leader of GNY Insurance Companies, plans to retire at the end of 2014. He’ll remain at the insurer as non-executive chairman. His daughter, Elizabeth Heck, currently president and chief operating officer, will replace him as CEO. …

Surplus Lines Rate Hikes to Slow As Competition Grows

Two insurance rating entities see slowing rate increases for the surplus lines segment in the coming months as competition grows. Moody’s Investors Service said that the U.S. excess and surplus lines sector is experiencing growth and strong profitability, thanks to …

Commercial Price Increase Slowdown Carried Into Q2 with Few Exceptions

Commercial insurance prices continued to moderate in the 2014 second quarter. This time, they inched up 3 percent in aggregate, versus a 4 percent increase in the first three months of this year, a new Towers Watson survey concluded. Thus …

China Investment Firm Fosun Buying Stake In Ironshore

An investment group from China will buy a big stake in in Ironshore Inc., a billion-dollar insurance holding company led by former AIG executives that filed plans for a $100 million IPO in June. Fosun International Ltd. has agreed to …

Will Energy Firm Executives Be Sued for Ignoring Climate Change?

Environmental groups said executives of coal, oil, gas and other “fossil fuel” companies could be held liable and risk lawsuits if they support groups that deny climate change and resist policies to fight it. In the current legal environment, however, …

House Chairman Vows to Have Bipartisan TRIA Renewal Bill Ready Next Month

The chairman of crucial U.S. House subcommittee said a bipartisan bill of its own that will renew the Terrorism Risk Insurance Act, or TRIA, will be unveiled in June. Rep. Randy Neugebauer, R-Texas, disclosed as much on May 20, in …