Insurance Journal » Research and Trends http://www.insurancejournal.com Insurance Journal delivers the latest business news for the Property/Casualty insurance industry Tue, 01 Sep 2015 07:00:24 +0000 en-US hourly 1 http://wordpress.org/?v=4.3 Business Owners Failing to Plan for Unexpected Events: Study http://www.insurancejournal.com/news/national/2015/08/31/380097.htm Mon, 31 Aug 2015 13:33:39 +0000 http://www.insurancejournal.com/?p=380097 Many business owners think they are good decision makers but they fail to address essential long-term business planning that is critical to sustaining their businesses for the long-term. While they feel they want to protect their businesses and families, they …

The article Business Owners Failing to Plan for Unexpected Events: Study appeared first on Insurance Journal.

]]>
S&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model http://www.insurancejournal.com/news/international/2015/08/28/379955.htm Fri, 28 Aug 2015 08:00:50 +0000 http://www.insurancejournal.com/?p=379955 Reinsurance M&A activity should continue well into 2016 as competitive pressures continue unabated, Standard & Poor’s said in a new report. The ratings firm said that the Berkshire Hathaways of the world – investment holding companies seeking to enter the insurance …

The article S&P: Reinsurance M&A Will Be Driven by Berkshire Hathaway Model appeared first on Insurance Journal.

]]>
UK’s PI Insurance Sector Expected to Grow by Almost 6% Annually: Report http://www.insurancejournal.com/news/international/2015/08/27/379848.htm Thu, 27 Aug 2015 13:23:59 +0000 http://www.insurancejournal.com/?p=379848 The professional indemnity and directors & officers insurance sector has grown constantly since 2012 and is expected to continue the upward trend until at least 2019, according to the findings of a new report by London-based business intelligence company, Timetric. …

The article UK’s PI Insurance Sector Expected to Grow by Almost 6% Annually: Report appeared first on Insurance Journal.

]]>
European Re/Insurers Well Positioned to Withstand Market Volatility: A.M. Best http://www.insurancejournal.com/news/international/2015/08/27/379822.htm Thu, 27 Aug 2015 07:46:33 +0000 http://www.insurancejournal.com/?p=379822 European re/insurers are well positioned to withstand the current volatility in the stock markets, having made significant changes to their investment portfolios since the global financial crisis of 2008, as well as the subsequent European sovereign debt crisis in late …

The article European Re/Insurers Well Positioned to Withstand Market Volatility: A.M. Best appeared first on Insurance Journal.

]]>
Auto Insurance Affordability Improves in Most States: IRC http://www.insurancejournal.com/news/national/2015/08/26/379710.htm Wed, 26 Aug 2015 15:09:55 +0000 http://www.insurancejournal.com/?p=379710 Personal auto insurance has become more affordable over time for all income groups,  including low-to-moderate income groups, and in most states, according to a report from the Insurance Research Council (IRC). The industry group says the study also shows that …

The article Auto Insurance Affordability Improves in Most States: IRC appeared first on Insurance Journal.

]]>
How to Know What Insurance Customers Want http://www.insurancejournal.com/news/national/2015/08/25/379623.htm Tue, 25 Aug 2015 19:10:26 +0000 http://www.insurancejournal.com/?p=379623 What do today’s customers want from insurance providers? They want understanding, interaction, even a relationship. But they vary in when and how they wish to learn, interact and build a relationship. Insurance providers have to understand not only when but …

The article How to Know What Insurance Customers Want appeared first on Insurance Journal.

]]>
Small Fleet Managers Would Choose Insurer for UBI Service: Survey http://www.insurancejournal.com/news/national/2015/08/25/379560.htm Tue, 25 Aug 2015 15:47:56 +0000 http://www.insurancejournal.com/?p=379560 More than half of small fleet managers are likely to stay with their current insurance carriers rather than switching if their insurer offers usage-based insurance (UBI) programs, according to a new survey by analytics firm Lexis Nexis. If an alternate …

The article Small Fleet Managers Would Choose Insurer for UBI Service: Survey appeared first on Insurance Journal.

]]>
Fitch: Downward Pricing Pressures in Reinsurance Market Begin to Slow http://www.insurancejournal.com/news/international/2015/08/25/379503.htm Tue, 25 Aug 2015 09:52:34 +0000 http://www.insurancejournal.com/?p=379503 The reinsurance market showed signs of decelerating rate declines in its most recent June/July 2015 renewals, indicating that pricing could be approaching a new equilibrium, says Fitch Ratings in a new global sector report. Reinsurance pricing has experienced downward pressures …

The article Fitch: Downward Pricing Pressures in Reinsurance Market Begin to Slow appeared first on Insurance Journal.

]]>
Researchers Find Link Between Atlantic Hurricanes and Amazon Wildfires http://www.insurancejournal.com/news/national/2015/08/24/379389.htm Mon, 24 Aug 2015 13:48:48 +0000 http://www.insurancejournal.com/?p=379389 Researchers  have uncovered a “remarkably strong link” between high wildfire risk in the Amazon basin and the hurricanes that ravage North Atlantic shorelines. The wildfire-hurricane association is a result of ocean-atmosphere interactions, according to the researchers who say this north-south …

The article Researchers Find Link Between Atlantic Hurricanes and Amazon Wildfires appeared first on Insurance Journal.

]]>
Survey of Global Executives Reveals Business Threat of Poor Risk Oversight http://www.insurancejournal.com/news/international/2015/08/24/379362.htm Mon, 24 Aug 2015 09:18:11 +0000 http://www.insurancejournal.com/?p=379362 Businesses are putting themselves in danger by neglecting or avoiding formal risk management processes, according to a new study by the Enterprise Risk Management Initiative at North Carolina State University on behalf of the London-based Chartered Institute of Management Accountants …

The article Survey of Global Executives Reveals Business Threat of Poor Risk Oversight appeared first on Insurance Journal.

]]>
8 Ways Katrina Changed Commercial Property Insurance http://www.insurancejournal.com/news/national/2015/08/21/379270.htm Fri, 21 Aug 2015 16:18:46 +0000 http://www.insurancejournal.com/?p=379270 Hurricane Katrina, which devastated New Orleans 10 years ago, is responsible for a number of changes in the commercial property insurance market. According to Rick Miller, U.S. property practice leader at Aon Risk Solutions, Katrina’s impact can be seen in …

The article 8 Ways Katrina Changed Commercial Property Insurance appeared first on Insurance Journal.

]]>
Beyond Katrina: Lessons in Mitigation, Insurance and Community http://www.insurancejournal.com/news/national/2015/08/21/379241.htm Fri, 21 Aug 2015 15:00:21 +0000 http://www.insurancejournal.com/?p=379241 Among the lessons to be learned from Hurricane Katrina are that communities and all stakeholders should prioritize flooding as the greatest risk, devote more resources to preventive measures rather than post-event disaster relief, and address current infrastructure weaknesses, according to …

The article Beyond Katrina: Lessons in Mitigation, Insurance and Community appeared first on Insurance Journal.

]]>
Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P http://www.insurancejournal.com/news/international/2015/08/21/379215.htm Fri, 21 Aug 2015 07:42:50 +0000 http://www.insurancejournal.com/?p=379215 Insurers are unlikely to be impaired by the loss claims from the explosions in the Chinese Port of Tianjin last week, according to a report from Standard & Poor’s. “Based on our initial investigation, we expect most of the affected …

The article Insurers Unlikely to Be Impaired by Claims From Tianjin Port Explosion: S&P appeared first on Insurance Journal.

]]>
Study: In 1st Year, 2 Florida Laws Reduced Amount of Opioids Prescribed http://www.insurancejournal.com/news/southeast/2015/08/19/378983.htm Wed, 19 Aug 2015 14:59:55 +0000 http://www.insurancejournal.com/?p=378983 Two Florida laws, enacted to fight prescription drug abuse and misuse in that state, led to a small but significant decrease in the amount of opioids prescribed the first year the laws were in place, a new study suggests. According …

The article Study: In 1st Year, 2 Florida Laws Reduced Amount of Opioids Prescribed appeared first on Insurance Journal.

]]>
10 Years After Katrina, Coastal Cities Face Greater Flood Risk: RMS http://www.insurancejournal.com/news/national/2015/08/19/378978.htm Wed, 19 Aug 2015 14:34:57 +0000 http://www.insurancejournal.com/?p=378978 A decade after Hurricane Katrina caused $41 billion in property/casualty insurance losses, the most expensive catastrophe for the global insurance industry, rising sea levels are driving up expected economic and insurance losses from hurricane-driven storm surge in coastal cities across …

The article 10 Years After Katrina, Coastal Cities Face Greater Flood Risk: RMS appeared first on Insurance Journal.

]]>
S&P: ILS Investors Could Get Burned as Covered Perils Expand, Terms Widen http://www.insurancejournal.com/news/international/2015/08/19/378944.htm Wed, 19 Aug 2015 11:51:25 +0000 http://www.insurancejournal.com/?p=378944 The catastrophe bond market will continue to grow by 10 to 20 percent per year, driven in part by the increase in covered perils and the broadening of event definitions, according to a report published by Standard & Poor’s. But …

The article S&P: ILS Investors Could Get Burned as Covered Perils Expand, Terms Widen appeared first on Insurance Journal.

]]>
Marketers Have Lost Control of Insurance Buying Process http://www.insurancejournal.com/news/national/2015/08/18/378634.htm Tue, 18 Aug 2015 14:16:10 +0000 http://www.insurancejournal.com/?p=378634 After careers spent crafting and controlling their companies’ messaging to customers, insurance marketing and advertising professionals have lost control. Customers and prospects have taken over. Increasingly, today’s insureds and prospects care more about what other parties have to say than …

The article Marketers Have Lost Control of Insurance Buying Process appeared first on Insurance Journal.

]]>
States Developing IRA Plans for Small Business Employees http://www.insurancejournal.com/news/national/2015/08/18/378708.htm Tue, 18 Aug 2015 10:00:45 +0000 http://www.insurancejournal.com/?p=378708 For people working for a small business that doesn’t have a retirement plan, help is on the way. Roughly half of the U.S. states are working to create government-sponsored automatic individual retirement account (IRA) plans that would enroll workers without …

The article States Developing IRA Plans for Small Business Employees appeared first on Insurance Journal.

]]>
UPDATE: Tianjin Blast Claims Could Top Estimates, Strain Chinese Insurers http://www.insurancejournal.com/news/international/2015/08/18/378817.htm Tue, 18 Aug 2015 09:47:11 +0000 http://www.insurancejournal.com/?p=378817 Insurance claims from the devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit ratings agency Fitch said on Tuesday. Credit Suisse analysts estimated that total insurance losses …

The article UPDATE: Tianjin Blast Claims Could Top Estimates, Strain Chinese Insurers appeared first on Insurance Journal.

]]>
Kids’ Biking Deaths Decline But Adult Deaths Rise http://www.insurancejournal.com/news/national/2015/08/14/378576.htm Fri, 14 Aug 2015 14:01:07 +0000 http://www.insurancejournal.com/?p=378576 The rate of cycling deaths among American children under the age of 15 has fallen 92 percent since 1975. That doesn’t mean the roads are safer—it may just mean kids are riding bikes less. The Centers for Disease Control reported that the total rate …

The article Kids’ Biking Deaths Decline But Adult Deaths Rise appeared first on Insurance Journal.

]]>
Insurers Look to Cyber, M&A Coverage as Prices Decline for 9th Quarter: Marsh http://www.insurancejournal.com/news/national/2015/08/14/378572.htm Fri, 14 Aug 2015 13:19:51 +0000 http://www.insurancejournal.com/?p=378572 Commercial insurance rates continued their global decline in the 2015 second quarter, a trend driven by a continued abundance of global capacity and a lack of large insured loss activity, Marsh said in its latest Global Insurance Market Quarterly Briefing. …

The article Insurers Look to Cyber, M&A Coverage as Prices Decline for 9th Quarter: Marsh appeared first on Insurance Journal.

]]>
Crime Investigators Warn on ‘Mystery’ Devices Used in Car Break-Ins http://www.insurancejournal.com/news/national/2015/08/13/378469.htm Thu, 13 Aug 2015 13:12:30 +0000 http://www.insurancejournal.com/?p=378469 Law enforcement officials and theft investigators are concerned that criminals may be getting their hands on high-tech electronic devices that can be used to break into vehicles. Also, they warn, these devices could be used to start and steal vehicles, …

The article Crime Investigators Warn on ‘Mystery’ Devices Used in Car Break-Ins appeared first on Insurance Journal.

]]>
Survey: How Health Insurance Brokers, Navigators Perform Under Obamacare http://www.insurancejournal.com/news/national/2015/08/12/378316.htm Wed, 12 Aug 2015 15:34:05 +0000 http://www.insurancejournal.com/?p=378316 Insurance brokers play an important role in helping people obtain non-group health insurance from the health insurance marketplaces established under the Affordable Care Act (ACA) and tend to serve different people than the navigators and other market assistance programs, according …

The article Survey: How Health Insurance Brokers, Navigators Perform Under Obamacare appeared first on Insurance Journal.

]]>
A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market http://www.insurancejournal.com/news/international/2015/08/12/378287.htm Wed, 12 Aug 2015 12:22:24 +0000 http://www.insurancejournal.com/?p=378287 The lifting of trade restrictions placed on Iran may present significant opportunities for the Middle East and North African (MENA) re/insurance market, with European participants also expected to re-engage and seek a foothold in the country, according to research published …

The article A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market appeared first on Insurance Journal.

]]>
Organically Speaking, Independent Agencies Are Very Profitable http://www.insurancejournal.com/news/national/2015/08/11/378067.htm Tue, 11 Aug 2015 12:44:26 +0000 http://www.insurancejournal.com/?p=378067 Independent agencies are enjoying a period of high profitability boosted by healthy organic growth despite continued soft pricing in commercial lines. Independent insurance agents/brokers posted median organic growth of 5.9 percent for the second quarter of 2015, slightly higher than …

The article Organically Speaking, Independent Agencies Are Very Profitable appeared first on Insurance Journal.

]]>
How Much More 18-Year-Olds Pay for Their Own Auto Insurance http://www.insurancejournal.com/news/national/2015/08/10/378000.htm Mon, 10 Aug 2015 14:37:30 +0000 http://www.insurancejournal.com/?p=378000 Eighteen year-olds pay an average of 18 percent more for car insurance if they sign up for an individual policy as opposed to remaining on their parents’ policies, according to a report from online seller insuranceQuotes.com. The difference in premiums …

The article How Much More 18-Year-Olds Pay for Their Own Auto Insurance appeared first on Insurance Journal.

]]>
Report: 20K Jobs May Be Lost in Oklahoma Due to Energy Prices http://www.insurancejournal.com/news/southcentral/2015/08/07/377868.htm Fri, 07 Aug 2015 16:14:57 +0000 http://www.insurancejournal.com/?p=377868 A new Oklahoma State University economic forecast says the state could lose more than 20,000 jobs due to energy price volatility through 2016. The Journal Record reports that the state’s mining sector, which is dominated by oil and gas operations, …

The article Report: 20K Jobs May Be Lost in Oklahoma Due to Energy Prices appeared first on Insurance Journal.

]]>
Report: California Workers’ Comp Premiums Growing at Double-Digit Rates http://www.insurancejournal.com/news/west/2015/08/05/377607.htm Wed, 05 Aug 2015 21:45:27 +0000 http://www.insurancejournal.com/?p=377607 Workers’ compensation premiums in California continue to grow at double-digit rates, according to the Workers’ Compensation Insurance Rating Bureau. The WCIRB recently released its “State of the California Worker’s Compensation Report,” and authors of the report on Wednesday highlighted developing …

The article Report: California Workers’ Comp Premiums Growing at Double-Digit Rates appeared first on Insurance Journal.

]]>
Insurers Face Risks of Declining Customer Loyalty, Tech-Savvy Firms: Accenture http://www.insurancejournal.com/news/national/2015/08/04/377387.htm Tue, 04 Aug 2015 13:26:38 +0000 http://www.insurancejournal.com/?p=377387 Insurers are not keeping up with rising customer expectations and will need to offer more innovative products and ally with some nontraditional partners to catch up and to keep more digital-savvy firms from stealing their business, a report from consulting …

The article Insurers Face Risks of Declining Customer Loyalty, Tech-Savvy Firms: Accenture appeared first on Insurance Journal.

]]>
Investment Return Moves up Boardroom Agenda for Europe Insurers: A.M. Best http://www.insurancejournal.com/news/international/2015/07/31/377117.htm Fri, 31 Jul 2015 09:09:27 +0000 http://www.insurancejournal.com/?p=377117 The pursuit of improved investment returns has become more important for European insurers after a lengthy period when their attention was more focused on non-investment sources of profit, according to a report published by A.M. Best. How an insurer might …

The article Investment Return Moves up Boardroom Agenda for Europe Insurers: A.M. Best appeared first on Insurance Journal.

]]>