Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Applied Systems Acquires Insurecom in U.K.
Aug 14 2013 // University Park, Ill.-based insurance software provider Applied Systems Inc. has acquired Insurecom, a software and connectivity solutions company focused on the insurance industry in the United Kingdom. Under the deal...
Cat Bonds, Sidecars Keeping Reinsurance Rates Low Says Guy Carpenter
Aug 12 2013 // Reinsurance market rates continued to be driven by an influx of capital from third-party investors at the July 1 renewals, in spite of catastrophe losses reaching approximately $20 billion during the first six months of...
Insurance Industry Charitable Foundation’s Boston Chapter to Host Fundraising Event
Aug 8 2013 // The Insurance Industry Charitable Foundation (IICF) Boston chapter will host a fashion-show fundraising event to support two Boston-area charities: Cradles to Crayons and Bottom Line. The “Rock Your World”...
Commentary: Does FSOC Understand the Business of Insurance?
Aug 5 2013 // The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat to U.S....
Insurer Loss Ratios High in Oklahoma after Years of Extreme Storms
Aug 5 2013 // The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms...
Industry Told TRIA Won’t Be Renewed Until 2014
Aug 5 2013 // The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the...
P/C Industry Faces Challenges If Terrorism Coverage Not Renewed: Fitch
Aug 1 2013 // If Congress fails to renew or makes significant changes to the federal government’s terrorism risk insurance program, some insurers will be forced to significantly alter their underwriting portfolios to reduce...
Catlin Launches Next Seaview Survey for Caribbean, Bermuda Coral Reefs
Jul 31 2013 // Catlin Group Limited announced the launch of its next “Seaview Survey,” which it described as a “significant expansion of its study of coral reefs with a new campaign in the Caribbean and Bermuda.”...
Insurers, Customers Were Kept Safe from 2008 Financial Crisis: GAO Report
Jul 30 2013 // At a time when efforts are underway to require additional supervision of some large insurers, a new government report concludes that the insurance industry’s own practices and the policies of state and federal...
CIWA Announces Changes to Bylaws to Increase Number of Associate Members on Their Board
Jul 23 2013 // Folsom, CA, 07/23/13 – In an effort to gain valuable insight about their company and vendor members, CIWA has elected to revise their bylaws and allow for more associate members. “CIWA is adapting to the...
Political Risk Insurance: Certainty for CEOs in Uncertain World
Jul 22 2013 // Except for Egypt, political risk insurance has been growing Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the...
West Virginia Property Insurance Market Stable
Jul 22 2013 // West Virginia property owners in general didn’t see a huge uptick in insurance premiums after making claims from last summer’s massive windstorm, state data shows. Figures compiled by the state insurance...
Europe Insurer Trade Group Criticizes Listing Companies as G-SII’s
Jul 19 2013 // Europe’s insurers criticized the approach taken by international regulators which named firms considered systemically important as they try to reduce financial risks from the sector. Two global financial watchdogs...
Industry Told TRIA Won’t Be Renewed Until 2014
Jul 19 2013 // The property/casualty insurance industry should not count on Congress reauthorizing the federal terrorism reinsurance program this year or in time for January renewals, according to a key insurance lobbyist working on the...
Minnesota Participating in Insurance Climate Change Survey
Jul 18 2013 // Minnesota has joined California, New York, Connecticut and Washington state in requiring insurers to respond to the Climate Risk Survey adopted in 2009 by the National Association of Insurance Commissioners...
Insurer Loss Ratios High in Oklahoma After Years of Extreme Storms
Jul 18 2013 // The May storms in Oklahoma that produced two EF-5 tornadoes, destroyed thousands of houses, resulted in 46 deaths and sent damage estimates above the $5 billion mark, were extreme examples of a years-long pattern of storms...
Astonish Hosts Sales & Marketing Training for Insurance Professionals in Los Angeles on July 18, 2013
Jul 16 2013 // Warwick, RI April 2013 – Astonish, a leading technology, digital marketing, and training provider for insurance agencies, encourages local insurance agency principals, CEOs, and presidents in California and surrounding...
As Political Risks Proliferate, Insurers Increase Coverage Options
Jul 10 2013 // Could it happen to us? Tourism, manufacturing and resources companies surveying an unpredictable world are increasingly having to consider insurance against political risks, and the insurance industry is gearing up to...
UK’s ABI Highlights 7 Challenges Facing the Insurance Industry
Jul 9 2013 // The Association of British Insurers has released a report at its biannual conference In London, entitled “Identifying the Challenges of a Changing World.” It features an “analysis of the challenges facing...
How Catastrophe Experts Model Hurricane-Induced Storm Surge
Jul 1 2013 // The 2004 and 2005 North Atlantic hurricane seasons were a turning point in the way the property/casualty insurance industry viewed hurricane risk. The needs of the insurance industry required catastrophe models to...
