Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Armed & Ready to Outsell the Competition
Oct 20 2008 // West Coast’s Interwest Insurance Services Remains Militant on Sales Top 100 Agency Profile Ranking: 12 Agency Name: InterWest Insurance Services Inc. Headquarters: Sacramento, Calif. Year Founded: 1992 Additional...
Surplus Lines: A Market in Transition
Oct 20 2008 // The Soft Market and Financial Crisis Could Lead Firms into ‘Uncharted Waters’ For surplus lines insurance providers the economic turmoil and soft insurance market means a double-hit on profitability. Some...
Industry Innovators Give Agents Alternative Solutions
Oct 20 2008 // How to Use Surplus Lines Brokers and Managing General Agents Recent estimates show that about one third of all commercial risks in the United States are placed in an “alternative market.” As producers already...
Insurance Industry Files Appeal to Michigan High Court on Credit Ruling
Oct 6 2008 // Insurance industry parties today filed an appeal to the state Supreme Court in response to an August ruling by the Michigan Court of Appeals that would prohibit the use of credit-based insurance scoring. The August ruling...
Soft Market Challenges
Oct 6 2008 // Relationships, Recruiting, Training Key to Survival Soft market conditions could last for another nine months to five years, predict representatives from the agent, broker, carrier, reinsurance, and excess and surplus...
Insurers Need to Beware of Business ‘Red Flags’
Oct 6 2008 // Identity Theft Rules to Take Effect on November 1 New federal “Red Flag” regulations will soon require businesses of all sizes to have identity theft and data breach protections in place. By Nov. 1, 2008, the...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Oct 6 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
It Pays To Specialize
Oct 6 2008 // How Program Managers Beat the Commodity Trend and Soft Market Despite challenging soft market conditions, today’s program administrators should be able to seize the day’s market opportunities thanks to their...
HDR Insurance Offers Insurance Market for Plumbing Contractors
Oct 2 2008 // HDR Insurance Services has a new market for commercial, residential and commercial service and repair plumbers in Arizona, California and Nevada. The admitted policy includes coverage for commercial auto, general liablity,...
P/C Insurers’ Net Income, Profitability Fall Sharply in First-Half 2008
Oct 1 2008 // The U.S. property/casualty insurance industry’s net income after taxes fell 57.4 percent to $13.9 billion in first-half 2008 from $32.7 billion in first-half 2007. The insurance industry’s overall profitability...
Aon Study Concludes Airline Insurance Market ‘Hardening’
Sep 25 2008 // A bulletin from Aon’s London office concludes that the airline insurance market “is hardening for the first time in five years, with a five percent increase in lead hull and liability premium between January...
U.S. P/C Insurers’ Net Income Falls More Than 50% in First Half 2008
Sep 24 2008 // The U.S. property/casualty industry’s net income after taxes fell more than 50 percent to $15.9 billion in the first half of 2008 on a combination of deteriorating underwriting results and declining investment...
Insurance Execs See Significant Sub-Prime Impact on 2009 Results
Sep 22 2008 // Insurance executives expect sub-prime and other credit issues to continue to have a negative impact on the industry’s financial performance in 2009, and they see credit and pricing risks as posing the most...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Conning: D&O Market Finds Way to Grow Even In Overall Soft Market
Sep 22 2008 // Over the past decade, the directors and officers liability market has grown faster than the broader property/casualty market, at nearly double the rate of the commercial lines average. Premium growth has come from pricing,...
Coloradans Spent $26 Billion in Insurance Premiums in 2007
Sep 22 2008 // During 2007, Colorado citizens paid more than 26 billion dollars in insurance premium to approximately 1,306 companies, with 27 companies accounting for more than 50 percent of that total, according to the Colorado...
Declarations
Sep 22 2008 // More Subprime Challenges Ahead “The next few years will be very challenging for many insurers in terms of turning the page on credit issues and in strengthening balance sheets. While executives have been keenly aware...
California Commissioner Issues Statement on AIG
Sep 19 2008 // Responding to the federal government’s bail-out of AIG, California Insurance Commissioner Steve Poizner issued the following statement, noting the two dozen companies under the AIG corporate umbrella that are...
Best Comments on Potential Impact of Hurricane Ike on P/C Industry
Sep 17 2008 // A.M. Best’s preliminary assessment of the potential financial impact from Hurricane Ike concludes that, even though its passage was a “sizeable catastrophic event, the overall financial impact to both the...
