Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 28 Jul 2015 19:04:58 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 Insured Catastrophe Losses Fell 36% in First Half of 2015 http://www.insurancejournal.com/news/national/2015/07/22/375995.htm Wed, 22 Jul 2015 13:40:21 +0000 http://www.insurancejournal.com/?p=375995 Property/casualty insurers catastrophe losses in North America for the first-half of this year were down 36 percent to $8.1 billion from 2014’s total of $12.6 billion, making it the lightest catastrophe first half since 2010. The $8.1 billion in first-half …

The article Insured Catastrophe Losses Fell 36% in First Half of 2015 appeared first on Insurance Journal.

]]>
Staged Hacking Shows Vulnerability of Connected Vehicles http://www.insurancejournal.com/news/national/2015/07/22/375987.htm Wed, 22 Jul 2015 12:32:12 +0000 http://www.insurancejournal.com/?p=375987 A pair of veteran cybersecurity researchers have shown they can use the Internet to turn off a car’s engine as it drives, sharply escalating the stakes in the debate about the safety of increasingly connected cars and trucks. Former National …

The article Staged Hacking Shows Vulnerability of Connected Vehicles appeared first on Insurance Journal.

]]>
How P/C Insurance Industry Fared in First Quarter http://www.insurancejournal.com/news/national/2015/07/21/375886.htm Tue, 21 Jul 2015 13:32:50 +0000 http://www.insurancejournal.com/?p=375886 The U.S. property/casualty insurance industry managed to improve its underwriting results and attain higher net investment income to produce a 12.9 percent increase in pre-tax operating income in the first quarter of 2015 over the prior-year first quarter. Higher realized …

The article How P/C Insurance Industry Fared in First Quarter appeared first on Insurance Journal.

]]>
M City: Where All Cars Are Driverless http://www.insurancejournal.com/news/national/2015/07/21/375872.htm Tue, 21 Jul 2015 10:42:51 +0000 http://www.insurancejournal.com/?p=375872 A simulated city opened Monday on the north campus of the University of Michigan to test how self-driving cars will travel in the future without mowing down pedestrians or causing colossal crashes. “We had the faculty here at the university …

The article M City: Where All Cars Are Driverless appeared first on Insurance Journal.

]]>
Brazil Economy Challenges Re/Insurers; No Rating Impact Expected: A.M. Best http://www.insurancejournal.com/news/international/2015/07/21/375869.htm Tue, 21 Jul 2015 09:48:43 +0000 http://www.insurancejournal.com/?p=375869 As Brazil’s sovereign ratings hover just above non-investment grade status, A. M. Best said it is considering the effect a future sovereign downgrade would have on rated re/insurers’ balance sheets and risk-adjusted capitalization, according to a briefing published by the …

The article Brazil Economy Challenges Re/Insurers; No Rating Impact Expected: A.M. Best appeared first on Insurance Journal.

]]>
How Agents View Agency Aggregators http://www.insurancejournal.com/news/national/2015/07/21/375758.htm Tue, 21 Jul 2015 09:00:34 +0000 http://www.insurancejournal.com/?p=375758 About a quarter of independent insurance agents say they work at a firm that belongs to an aggregator cluster. But very few whose agencies don’t already belong to an aggregator want their firms to join one, a fact challenging the …

The article How Agents View Agency Aggregators appeared first on Insurance Journal.

]]>
How Social Media Enhances Value of Luxury Cars http://www.insurancejournal.com/news/national/2015/07/20/375731.htm Mon, 20 Jul 2015 12:52:37 +0000 http://www.insurancejournal.com/?p=375731 David Beckham may have more of an influence on you than you think. According to analysis by Black Book, the prevalence of modern and classic luxury cars on social media platforms like Instagram directly influences their resale value. So when celebrities such …

The article How Social Media Enhances Value of Luxury Cars appeared first on Insurance Journal.

]]>
Food Liability Costs Surging in Global Economy: Swiss Re http://www.insurancejournal.com/news/national/2015/07/20/375709.htm Mon, 20 Jul 2015 12:21:50 +0000 http://www.insurancejournal.com/?p=375709 Liability costs involving food contamination are soaring, and a globalized supply chain has made risk management much more challenging. In a new report, Swiss Re says that the number of annual food recalls have nearly doubled in the U.S. since …

The article Food Liability Costs Surging in Global Economy: Swiss Re appeared first on Insurance Journal.

]]>
Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best http://www.insurancejournal.com/news/international/2015/07/20/375692.htm Mon, 20 Jul 2015 08:53:41 +0000 http://www.insurancejournal.com/?p=375692 Merger and takeover activity is likely to continue in the coming months as re/insurers increasingly seek ways to deploy capital and create scale against a backdrop of ongoing soft market conditions and weak investment returns, according to a special report …

The article Re/insurance Market Conditions Will Lead to More M&A Activity: A.M. Best appeared first on Insurance Journal.

]]>
Guy Carpenter Predicts El Niño Event Will Bring Fewer Tropical Cyclone Landfalls http://www.insurancejournal.com/news/international/2015/07/17/375522.htm Fri, 17 Jul 2015 09:40:34 +0000 http://www.insurancejournal.com/?p=375522 El Niño years bring disruptive weather, such as floods and drought, but have an added benefit of leading to fewer than average tropical cyclone landfalls, according to predictions issued by the Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC). As a …

The article Guy Carpenter Predicts El Niño Event Will Bring Fewer Tropical Cyclone Landfalls appeared first on Insurance Journal.

]]>
Report Sees Major Food Shortage as Climate Change Danger http://www.insurancejournal.com/news/national/2015/07/16/375479.htm Thu, 16 Jul 2015 23:09:55 +0000 http://www.insurancejournal.com/?p=375479 Climate change reports and studies abound lately – as you will note from a previous column – but one recent report gives potentially the starkest prediction yet of what impacts climate change could have. The report from Lloyd’s of London, “Food …

The article Report Sees Major Food Shortage as Climate Change Danger appeared first on Insurance Journal.

]]>
Carriers See Growth Ahead in Specialty Insurance Program Market: Survey http://www.insurancejournal.com/news/national/2015/07/16/375372.htm Thu, 16 Jul 2015 13:08:37 +0000 http://www.insurancejournal.com/?p=375372 The outlook is good for the specialty insurance program market, with carriers looking more favorably on smaller accounts, single state programs and startups, according to a new survey. Carriers see the program administrator and managing general agency (PA/MGA) market continuing …

The article Carriers See Growth Ahead in Specialty Insurance Program Market: Survey appeared first on Insurance Journal.

]]>
A.M. Best: Volatility of China Stock Market Not Expected to Hit Insurer Ratings http://www.insurancejournal.com/news/international/2015/07/14/374946.htm Tue, 14 Jul 2015 13:33:13 +0000 http://www.insurancejournal.com/?p=374946 The recent volatility of China’s stock market is not expected to affect the ratings of domestic insurers, according to a new briefing issued by A.M. Best*. Putting the volatility into context, A.M. Best noted that the Shanghai Composite Index fell sharply, …

The article A.M. Best: Volatility of China Stock Market Not Expected to Hit Insurer Ratings appeared first on Insurance Journal.

]]>
Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re http://www.insurancejournal.com/news/international/2015/07/14/374894.htm Tue, 14 Jul 2015 10:28:35 +0000 http://www.insurancejournal.com/?p=374894 Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural catastrophe losses incurred in the first half …

The article Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re appeared first on Insurance Journal.

]]>
Why Back Surgery Rates Vary by Location http://www.insurancejournal.com/news/national/2015/07/14/373978.htm Tue, 14 Jul 2015 09:00:02 +0000 http://www.insurancejournal.com/?p=373978 The probability of injured workers getting back surgery depends on the area of the country in which they seek treatment for their back pain. According to a Workers Compensation Research Institute (WCRI) study, “Why Surgery Rates Vary,” back pain is …

The article Why Back Surgery Rates Vary by Location appeared first on Insurance Journal.

]]>
Survey: Many Consumers Stress Over Safety of Financial Information http://www.insurancejournal.com/news/national/2015/07/10/374699.htm Fri, 10 Jul 2015 16:49:55 +0000 http://www.insurancejournal.com/?p=374699 While the safety of their private financial information is a big deal for a lot of people, when it comes to protecting it, many are actually pretty lax, a new survey says. According to the phone survey commissioned by MasterCard, …

The article Survey: Many Consumers Stress Over Safety of Financial Information appeared first on Insurance Journal.

]]>
Cell Phone Notifications Drive More Distraction: Study http://www.insurancejournal.com/news/national/2015/07/10/374680.htm Fri, 10 Jul 2015 14:25:55 +0000 http://www.insurancejournal.com/?p=374680 Driver distraction could happen even when the driver isn’t using their cell phone. That’s according to a new study by Florida State University that found just receiving a notification on a cell phone can cause enough of a distraction to …

The article Cell Phone Notifications Drive More Distraction: Study appeared first on Insurance Journal.

]]>
A.M. Best: Eurozone Insurers Remain Robust Despite Instability in Greece http://www.insurancejournal.com/news/international/2015/07/10/374663.htm Fri, 10 Jul 2015 09:15:19 +0000 http://www.insurancejournal.com/?p=374663 The impact of Greece exiting the eurozone is likely to hit market confidence in the region, although (re)insurers operating in the economic bloc are well positioned to withstand a continued period of volatility, according to a briefing published by A.M. …

The article A.M. Best: Eurozone Insurers Remain Robust Despite Instability in Greece appeared first on Insurance Journal.

]]>
U.S. Power Grid Attack Could Cause $70 Billion Insurance Losses: Lloyd’s Report http://www.insurancejournal.com/news/national/2015/07/08/374402.htm Wed, 08 Jul 2015 14:20:07 +0000 http://www.insurancejournal.com/?p=374402 A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and transportation, and potentially more than …

The article U.S. Power Grid Attack Could Cause $70 Billion Insurance Losses: Lloyd’s Report appeared first on Insurance Journal.

]]>
Commercial Insurance Prices Remain Static for Fourth Month http://www.insurancejournal.com/news/national/2015/07/06/374112.htm Mon, 06 Jul 2015 13:36:58 +0000 http://www.insurancejournal.com/?p=374112 Commercial insurance rates have barely budged at all over the last four months, according to the MarketScout report for June. Only the business interruption line saw rates go down in June from the previous month and those were only down …

The article Commercial Insurance Prices Remain Static for Fourth Month appeared first on Insurance Journal.

]]>
Reinsurance Industry Faces Uncertain Future as Time Moves On http://www.insurancejournal.com/news/international/2015/07/02/373959.htm Thu, 02 Jul 2015 10:31:10 +0000 http://www.insurancejournal.com/?p=373959 It’s around two months until the annual Reinsurance Rendezvous in Monte Carlo, where the reinsurers, brokers, carriers, lawyers, accountants and cat modelers discuss the state of their industry. That industry, until recently a rock solid bastion of the “we do it …

The article Reinsurance Industry Faces Uncertain Future as Time Moves On appeared first on Insurance Journal.

]]>
Affordable Care Act Attracting Younger, Healthier Insureds http://www.insurancejournal.com/news/national/2015/07/01/373672.htm Wed, 01 Jul 2015 15:25:50 +0000 http://www.insurancejournal.com/?p=373672 Obamacare is attracting younger and healthier people to its coverage plans this year, according to research by Express Scripts Holding Co., a trend that could help balance and sustain the law’s insurance markets. According to the report, which looked at …

The article Affordable Care Act Attracting Younger, Healthier Insureds appeared first on Insurance Journal.

]]>
ILS Products Are Changing Reinsurance Industry Norms: ‘Acts of God’ Author http://www.insurancejournal.com/news/international/2015/07/01/373612.htm Wed, 01 Jul 2015 10:00:28 +0000 http://www.insurancejournal.com/?p=373612 Second of two articles In the first article in this series, Paula Jarzabkowski, professor of Strategic Management at Cass Business School, City University London, discussed the findings of her book on the reinsurance industry, which show that the market is …

The article ILS Products Are Changing Reinsurance Industry Norms: ‘Acts of God’ Author appeared first on Insurance Journal.

]]>
Loyalty to Insurer Doesn’t Always Pay Off for Drivers http://www.insurancejournal.com/news/national/2015/06/30/373444.htm Tue, 30 Jun 2015 13:41:16 +0000 http://www.insurancejournal.com/?p=373444 When Jonathan G. Stein became unhappy with his long-time car insurance carrier earlier this year, the 41-year-old lawyer from Elk Grove, California switched to a new company. How was he rewarded for his disloyalty after nine years? With savings of …

The article Loyalty to Insurer Doesn’t Always Pay Off for Drivers appeared first on Insurance Journal.

]]>
How Terrorism Reinsurance Law Uncertainty Affected Market http://www.insurancejournal.com/news/national/2015/06/29/373282.htm Mon, 29 Jun 2015 12:23:16 +0000 http://www.insurancejournal.com/?p=373282 After a slight dip in the wake of the brief lapse of the terrorism reinsurance program in early 2015, terrorism insurance market conditions are steady again, although there have been some noteworthy changes in behavior, insurance broker Marsh said in …

The article How Terrorism Reinsurance Law Uncertainty Affected Market appeared first on Insurance Journal.

]]>
Study: Social Posts Provide Clues to Millennials’ Attitudes http://www.insurancejournal.com/news/national/2015/06/26/373251.htm Fri, 26 Jun 2015 23:32:55 +0000 http://www.insurancejournal.com/?p=373251 A study of social media posts of millennials — those aged 20 to 35 — found that when this group shares financial concerns online their anxiety decreases significantly even when a purchase or transaction is a completely new experience. To conduct the …

The article Study: Social Posts Provide Clues to Millennials’ Attitudes appeared first on Insurance Journal.

]]>
How Supreme Court Gay Marriage Ruling Affects Employee Benefit Plans http://www.insurancejournal.com/news/national/2015/06/26/373192.htm Fri, 26 Jun 2015 15:52:34 +0000 http://www.insurancejournal.com/?p=373192 Following the historic Supreme Court decision that same-sex couples have a national right to marry, employers offering domestic partner benefits to unmarried couples may pull back on that offering since employees in all states will be able to marry. Meanwhile, …

The article How Supreme Court Gay Marriage Ruling Affects Employee Benefit Plans appeared first on Insurance Journal.

]]>
How Supreme Court Marriage Ruling Affects Gay Couples’ Finances http://www.insurancejournal.com/news/national/2015/06/26/373186.htm Fri, 26 Jun 2015 15:24:10 +0000 http://www.insurancejournal.com/?p=373186 The Supreme Court’s decision to allow same- sex marriage nationwide will remove tax and personal finance headaches that have bedeviled gay couples. The 5-4 decision by the court (Obergefell v. Hodges) is a particularly significant victory for many residents of …

The article How Supreme Court Marriage Ruling Affects Gay Couples’ Finances appeared first on Insurance Journal.

]]>
4 of 10 Mid-Sized Firms Have Had Data Breach: Survey http://www.insurancejournal.com/news/national/2015/06/26/373176.htm Fri, 26 Jun 2015 13:10:42 +0000 http://www.insurancejournal.com/?p=373176 Forty-three percent of mid-sized businesses say they have experienced a data breach in the past three years and 13 percent have had a supplier’s data breach impact their business information. Also, according to The Hartford’s survey of midsize business owners …

The article 4 of 10 Mid-Sized Firms Have Had Data Breach: Survey appeared first on Insurance Journal.

]]>
Reinsurance Market’s Evolution Could Affect Its Stability: ‘Acts of God’ Author http://www.insurancejournal.com/news/international/2015/06/26/373154.htm Fri, 26 Jun 2015 11:05:28 +0000 http://www.insurancejournal.com/?p=373154 First of Two Articles The reinsurance market is moving from coverage of acts of God to one that covers commoditized risks – an evolution that could have long-term implications for market stability and trading large-scale risk, according to an industry expert …

The article Reinsurance Market’s Evolution Could Affect Its Stability: ‘Acts of God’ Author appeared first on Insurance Journal.

]]>