Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
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...
People
Oct 3 2011 // State Auto Insurance’s previously announced Austin, Texas, claims facility is now operational, the company reported. The following individuals serve on the claims team at the Austin facility: Sandra Robinson, claims...
After 30 Years, Bouhan Leaves NAPSLO
Oct 3 2011 // The National Association of Professional Surplus Lines Offices Ltd. (NAPSLO) began serving the surplus lines industry and its wholesale broker members in 1975. Just six years into the association’s history a young...
People
Oct 3 2011 // The National Association of Mutual Insurance Companies (NAMIC) presented the Federal Legislator of the Year Award to U.S. Rep. Judy Biggert, R-Ill., at its annual convention in Indianapolis. Biggert currently serves as...
Surplus Lines Industry Losing Its Edge?
Oct 3 2011 // The surplus lines industry continues to outperform the overall property/casualty industry but its advantage is not what it used to be. According to the annual A.M. Best special report, the surplus lines industry generated...
Lloyd’s Calls for Redrawing Disaster Roles in U.S. for Government, Private Insurers
Sep 27 2011 // Government intervention in the insurance market is putting the financial burden of natural disasters on U.S. taxpayers, according to a report by Lloyd’s of London, the global specialist insurance market. The report,...
Falling Satellites? Uncle Sam’s Got It Covered, Mostly
Sep 22 2011 // When, where and how much, if any, damage will be caused by about 1,200 pounds worth of falling satellite debris poses some interesting questions–including for the insurance industry. Likely coming in at No. 1 on the...
