Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
People
Feb 8 2009 // Linda Timmons has been promoted to director of communications for the Independent Insurance Agents of Texas (IIAT). In this position, Timmons will manage the organization’s internal and external communications,...
People
Feb 8 2009 // The California Insurance Wholesalers Association awarded Hank Haldeman its recipient of the 2008 Industry Achievement Award. The award was given in appreciation of Haldeman’s outstanding dedication and hard work in...
Systematic Sales Strategy Should Be Priority No. 2 for Agency Managers
Feb 8 2009 // In this hard economy coupled with the soft market, most agencies expect sales and revenues to go down. Even the best performers feel the downward trend in premiums. According to Juan Andrade, executive vice-president for...
S&P: Irish Non-Life Market-‘Testing in 2009’, But ‘Fundamentally Robust’
Feb 5 2009 // In a report entitled “A Testing 2009 For The Irish Non-Life Insurance Market, Despite Fundamental Strengths,” Standard & Poor’s Ratings Services forecast a “difficult year ahead for the Irish...
Insurance Industry Blasts Granholm’s Call for Rate Freeze, Advocate’s Report
Feb 5 2009 // The insurance industry is not taking the recent attacks by Michigan Gov. Jennifer Granholm and the state consumer advocate lightly. Insurance trade groups have come out swinging against Granholm’s call for a freeze...
Texas Announces December Insurance Industry Enforcement Actions
Feb 3 2009 // The Texas Department of Insurance announced enforcement actions taken by Commissioner Mike Geeslin that became final during December. The actions include five license revocations, three license denials and fines and...
State Farm Pulling Out of Florida Property Insurance Market
Jan 27 2009 // Florida is losing its largest property insurance company. State Farm Florida Insurance announced today it is beginning the process that will allow it to non-renew policies and halt all sales of homeowners or other...
People
Jan 25 2009 // Risk management and insurance services provider IMA of Texas Inc. announced additions to its Health Care, Employee Benefits and Surety departments. Michael J. Jacoby has been hired as vice president and national director...
Even Best Practices Agencies Struggle To Grow in Soft Market
Jan 25 2009 // Revenue Growth Proves Challenge; Hiring New Producers Remains Priority The Independent Insurance Agents and Brokers of America (the Big “I”) recently released its annual “Best Practices Study,” a...
People
Jan 25 2009 // American International Group Inc. (AIG) named Russell Johnston president and CEO of AIG Environmental, a unit of AIG Commercial Insurance. Johnston joined AIG in 1990 serving in senior management positions within...
The Invisible Hard Market
Jan 25 2009 // The events of the past six months — and those of the past several years — are some of the most dramatic in the history of financial services and risk management. From Sept. 11 to the 2005 hurricanes to the...
Hale Awarded Scholarship from Louisiana Workers’ Comp Insurer
Jan 23 2009 // The Louisiana Workers’ Compensation Corporation (LWCC) announced that Kevin Paul Hale of Baton Rouge, La., has been selected as the 2008 recipient of the Stephen W. Cavanaugh Scholarship. LWCC established the Stephen...
Survey: Risk Managers Report Modest Premium Decreases in Q4
Jan 21 2009 // Insurance premiums for businesses continued a five-year trend of falling rates during the fourth quarter of 2008, but recent data suggest a reversal of this trend may soon be underway. Rates for property, general...
Lloyd’s Chairman Calls for Insurance Industry Input in Financial Regulation
Jan 20 2009 // Lloyd’s Chairman, Lord Peter Levene, has called for insurers to contribute to the debate about the future of financial markets, citing better regulation as the key way forward. In an article on the Lloyd’s web...
Munich Re Webinar Provides Insights on Nat Cats, Industry Strength
Jan 16 2009 // Munich Re’s Webinar on Thursday – 2008 Natural Catastrophes – presented a detailed analysis of the increasing number of weather related events that concern both primary carriers and reinsurers. It also...
Insurance Industry Sees Commercial Airlines as Safe
Jan 16 2009 // With the world’s attention focused on the US Airways Airbus emergency landing in the Hudson River and the successful rescue of passengers, the insurance industry points out that the commercial airlines industry has a...
Eye on Insurance Industry Regulation
Jan 12 2009 // In Financial Turmoil, Agents and the Industry Must Work Together It has been said that “a rising tide lifts all boats.” That also raises the question, what happens to the boat when the tide goes down? The...
Declarations
Jan 11 2009 // Insufficient Warning “I think all three agencies have been irresponsible in not accurately warning citizens.” —Stephen Smith, executive director for the Southern Alliance for Clean Energy, criticizing...
Estimating Insurance Losses From the Credit Crisis
Jan 11 2009 // On Nov. 5, 2008, the insurance information firm Advisen issued an updated forecast of insurance losses likely to arise from the credit crisis, estimating aggregate directors and officers (D&O), and errors and...
People
Jan 11 2009 // National managing general agent Burns & Wilcox has promoted Anthony Cugini to manager of the company’s Houston office. He is responsible for increasing sales across all product lines, including professional...
