Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Helping Banks is Hurting Insurance Industry Geneva Association Tells G20
Nov 2 2011 // In an open letter The Geneva Association directly addressed the Finance Ministers and Central Bank Governors of the G-20 before their meeting in Cannes, France. It pointed out that amidst all of the concerns over the...
Insurance Industry Charitable Foundation to Host Benefit Dinner
Oct 27 2011 // The Insurance Industry Charitable Foundation (IICF) New York/Northeast division will hold its 2011 benefit dinner on Dec. 14. “There are so many people in need in our area, and, in spite of the economy, the insurance...
Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers
Oct 25 2011 // A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the...
Generous P/C Sector Seeks Ways to ‘Give Better,’ McKinsey Author Says
Oct 25 2011 // The property/casualty insurance sector that already does a lot of good work is interested in doing more and having even more of an impact, according to the lead author of a landmark report on the property/casualty...
P/C Industry Gave $500M to Charity in 2010, But More Can Be Done
Oct 25 2011 // Here is something some people might not know about the property/casualty insurance professionals: they are very generous folks. Property/casualty insurance industry’s charitable giving reached $500 million in 2010....
Kipper Made Nevada Insurance Commissioner, Again
Oct 24 2011 // Scott Kipper has returned to his role as Nevada’s insurance commissioner, an appointment that takes effect today. Kipper was named to the post by Terry Johnson, Nevada’s director of business and industry, who...
Energi to Enter Canadian Insurance Market, Forms Energi of Canada LTD
Oct 24 2011 // Energi has formed a wholly owned subsidiary, Energi of Canada LTD and is entering the Canadian insurance market. Initially, Energi will offer its Energy Property Insurance Program along with Energi’s Energy Savings...
Insurance Industry Volunteer Week Underway in 7 States
Oct 19 2011 // More than 3,000 insurance employees have stepped forward to get involved in more than 500 projects around the country for Volunteer Week, the Insurance Industry Charitable Foundation’s (IICF) event being held this...
Survey: A Few More Years Before Med Liability Market Hardens
Oct 17 2011 // According to a new annual rate survey by Medical Liability Monitor, base-rate premiums for medical professional liability insurance (MPLI) continued their downward trend for a sixth consecutive year. The current soft...
Volunteerism Feeds Employees’ Need to Serve
Oct 17 2011 // “It was like I gave her a million dollars.” That’s how Sean Ramalho of Travelers described the reaction from a woman to whom he gave a blanket on a bitterly cold winter day while he was volunteering at...
Nevada Young Agents Group Grows the Old-Fashioned Way
Oct 17 2011 // The Nevada Young Agents Committee started out small with a young insurance agent collecting and passing out a few cards around the state, and it’s now a rapidly growing organization that has garnered a bit of...
People
Oct 17 2011 // Higginbotham & Associates has promoted commercial insurance broker Mike Bateman to its managing director group for 2012. Bateman, who joined Higginbotham’s Dallas office in 2004, was promoted from account...
Top 25 P/C Insurers’ Direct Premium Growth Increases 11%, June 30, 2011 Versus June 30, 2010
Oct 17 2011 // Property/casualty insurance companies continued to serve their clients despite the tough economic conditions that have defined the better part of the past decade as well as an increased number of catastrophic events in the...
Independent Agencies Showing Signs of Recovery, Says Big ‘I’ Study
Oct 13 2011 // Things are looking better for the nation’s property/casualty independent insurance agencies. Organic growth for these agencies improved somewhat last year and their profitability held constant across most of the six...
2,100 Jobs Lost in Insurance Industry in August
Oct 13 2011 // The latest U.S. jobs data show the insurance industry lost 2,100 jobs overall in August. The industry employs some 2,211,000 workers according to the latest numbers. The Insurance Information Institute reported that most...
Lloyd’s Enters Florida Reinsurance Market Under Reduced Capital Rule
Oct 7 2011 // Florida has added its first reinsurer from the United Kingdom to a list of reinsurers taking advantage of a state law that reduces reinsurers’ capital requirements. In an effort to attract more private capital to the...
Survey: A Few More Years Before Med Liability Market Hardens
Oct 6 2011 // According to a new annual rate survey by Medical Liability Monitor, base-rate premiums for medical professional liability insurance (MPLI) continued their downward trend for a sixth consecutive year. The current soft...
Jansen and Hastings Launch Cove MGA
Oct 6 2011 // Two veterans in the London insurance marketplace have come together again to launch a new underwriting agency with a focus on U.S.-based homebuilders. Paul Jansen and Kevin Hastings have launched Cove Programs, a newly...
Med Liability Insurers in Strong Financial Shape, Report Says
Oct 5 2011 // Medical professional liability insurance (MPLI) carriers are in a strong financial position overall and the insurers are exhibiting rate discipline in soft market conditions, according to a new report this week by New...
The Woodlands Financial Group Announces 6 New Locations
Oct 3 2011 // Texas-based The Woodlands Financial Group Inc. (TWFG) has opened six new branch locations in three states. Desiree Garza has opened a new branch location in San Antonio, Texas. Garza has 13 years of experience in the...
