Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
U.S. P/C Industry Posts $11.5B Net Income in Q1
Jul 13 2010 // The U.S. property/casualty industry earned a net profit for the first quarter 2010, partly due to the continued recovery in the financial markets. The first quarter 2010 rebounded from a net loss in the first three months...
IASA Elects Glatfelter’s Lowenthal as President
Jul 9 2010 // The Insurance Accounting and Systems Association Inc. (IASA) has elected Craig S. Lowenthal as president of the association. Lowenthal, a social media strategist for Pennsylvania-based Glatfelter, has been a technology...
City of Hope Honors Ironshore CEO Kelley
Jul 7 2010 // City of Hope’s National Insurance Industry Council (NIIC) announced it will honor Kevin Kelley, CEO of Ironshore, with The Spirit of Life Award, City of Hope’s most prestigious philanthropic honor. City of Hope...
10 New York Students Among 58 InVEST Scholarship Winners
Jul 7 2010 // InVEST, the insurance industry’s career education program, has awarded $56,500 in scholarships to 58 college-bound students pursuing insurance-related degrees, including 10 students from New York. Patrick Moore,...
Lloyd’s Marine Underwriters Examine How to Comply with Iran Sanctions
Jul 6 2010 // Underwriters from London’s marine insurance market are looking at how to comply with fresh sanctions being imposed on Iran, a senior Lloyd’s Market Association (LMA) official said on Friday. Iran, the...
Wortman Retiring as CEO of Louisiana Citizens Property Insurance Corp.
Jul 6 2010 // John Wortman, CEO of Louisiana Citizens Property Insurance Corp. (Citizens), the state’s property insurance of last resort, has announced plans to retire. “John Wortman has been a tremendous asset to Louisiana...
Price Scare
Jul 5 2010 // Seven years and running, the soft market shows few signs of loosening its grip on commercial insurance pricing, according to a recent industry study. Average premiums in every line tracked by the RIMS Benchmark Survey fell...
Rough Road for Trucking in the New Economy
Jul 5 2010 // Rising Taxes, Inflation Will Force Insurance Market to a ‘Déjà vu All Over Again’ The insurance industry has a long history for cyclical price adjusting, featuring long periods of marginal to inadequate...
Near National P/C Carriers Identified for 2010
Jul 5 2010 // The Demotech Company Classification System Shows 62 Carriers Meet Critieria The original criteria and objective definition for the Near Nationals was established in the Feb. 12, 2007 issue of Insurance Journal. The...
Hit a Home Run with Wholesalers
Jul 5 2010 // How to Make Wholesale-Agent Partnerships Work It’s no secret. Insurance is a relationship business. And the agent-wholesale broker relationship is no exception. The continued soft market hasn’t stifled...
Willis Re Finds Chile Quake, Storm Losses ‘Little Impact’ on Re Pricing
Jul 1 2010 // A new report from Willis Re, the reinsurance broking arm of Willis Group Holdings, has concluded that “losses from the Chile earthquake and storms in Australia in the first quarter of 2010 have had little impact on...
Neal Bill, HR 3424, Proponents and Opponents Trade Salvoes
Jun 29 2010 // When U.S. Representative Richard Neal (D-MA) introduced, or more properly reintroduced, HR 3424, a bill aimed at closing what its proponents describe as a “loophole” in the U.S. tax code, he ignited, or more...
MGAs Key to Florida’s Property Market, Say Officials, Execs
Jun 21 2010 // Several of Florida’s insurers with affiliated managing general agencies (MGAs) have come in for criticism recently but there is no widespread problem with the MGA model, regulators and insurance executives agree. In...
The Age of Relentless Acceleration
Jun 21 2010 // Views from the Brokering Landscape Today we live in an Age of Relentless Acceleration – of interconnectedness, emerging risks, uncertainty and shifting centers of power and influence. It is an age where catalytic...
Specialized Independence
Jun 21 2010 // Top 100 Agency Profile Agency Name: The Horton Group Inc. Headquarters: Orland Park, Ill. Year Founded: 1971 Locations: 15 2009 Total P/C Premiums: $258.3 million Commercial Lines: $221.4 million Personal Lines: $36.8...
FSA Chairman Comments on UK Gov’ts Plans for Regulatory Reform
Jun 17 2010 // A bulletin from the UK’s Financial Services Authority (FSA) indicates that its Chairman, Lord Turner, has “welcomed the changes to financial regulation outlined by the Chancellor of the Exchequer in his Mansion...
Oregon Insurance Industry To Recognize Customer Service Reps
Jun 10 2010 // The Independent Insurance Agents and Brokers of Oregon (IIABO) is now accepting nominations for the 2010 Accredited Customer Service Representative of the Year award, which recognizes an employee for his or her...
People
Jun 7 2010 // Wholesaler Crump Insurance promoted Kevin Hahn to executive vice president. As head of New York brokerage operations, Hahn will oversee Crump’s offices in Long Island and New York, and its environmental practice. XL...
People
Jun 7 2010 // Craig A. Payan has been elected to serve as chairman of the board of directors for Itasca, Ill.-based Associated Risk Managers International Inc. Payan is president of PA&T Insurance and Financial Services, an...
People
Jun 7 2010 // Louisiana Workers’ Compensation Corp. (LWCC) President and CEO Kristin W. Wall has been elected to the board of directors of NCCI Holdings Inc., a provider of workers’ compensation and employee injury data and...
