Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
FSLA Leader Sees Soft Market Opportunities in State Farm Exit, Med Mal, EPLI
Feb 22 2009 // The Florida surplus lines industry may be challenged right now by regulatory uncertainty stemming from the Essex and CNL Hotels rulings but it is not letting that blind it to opportunities. One opportunity is the pending...
People
Feb 22 2009 // American International Group (AIG) named Peter Eastwood president and CEO of Lexington Insurance Co., a unit of AIG Commercial Insurance. Eastwood assumes management responsibility for Lexington from Kevin H. Kelley, who...
Who’s Worth What?
Feb 22 2009 // Agency Salary Survey: Agencies Trim Payrolls and Raises Independent insurance agencies remain reliable employers even in these rocky economic times, but even they have to cut back occasionally. Whether due to efficiencies...
U.S. Regulator Sees Future Role for Mortgage Insurance Industry
Feb 20 2009 // The main regulator for Fannie Mae and Freddie Mac Thursday said he sees a future for mortgage insurance companies that underwrite many loans for the two mortgage finance giants. “They’re very important,”...
Fitch Report ‘Remains Negative’ on Bermuda Insurance Market
Feb 13 2009 // Fitch Ratings stated in a Special Report today that its Rating Outlook for the Bermuda (re)insurance market remains negative, “reflecting uncertainty tied to the continued highly volatile investment markets and a...
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...
Start-Up Stories: How New Agencies Are Competing
Feb 8 2009 // A Crop of Newly-Formed Agencies Is Defying the Hard Economy and Soft Market The independent insurance agency system is enjoying a resurgence. For years, the number of agencies in the country had been declining but that...
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...
