Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
People
Jun 16 2008 // Golden Eagle Insurance, a Liberty Mutual Agency Markets regional company, appointed Pete McPartland president and CEO. McPartland comes from General Casualty in Sun Prairie, Wis., where he led insurance operations for QBE...
Building Commercial Construction Business in a Soft Market
Jun 16 2008 // Soft Market Emphasizes Need for Education, Communication It was the best of times, it was the worst of times.” Charles Dickens probably was not referring to the insurance industry’s soft market, when he wrote...
Lloyd’s Examines Growth of Polish Insurance Industry
Jun 13 2008 // While most people identify Russia as the emerging insurance market in Eastern Europe, Lloyd’s notes that “Poland is beginning to make a name for herself. When Lloyd’s Chairman Lord Levene visited the...
Fitch: U.S. P/C Industry Shifts To Modest Underwriting Loss In 2008
Jun 13 2008 // Fitch Ratings said that following a review of industry aggregate statutory financials for year-end 2007 and 1Q 2008, the rating agency has updated its full-year 2008 U.S. Property/Casualty industry forecast and now...
RMS To Offer Catastrophe Updates Online
Jun 12 2008 // Newark, Calif.-based Risk Management Solutions (RMS) has launched an initiative to keep businesses informed of the impact of catastrophic events by making its expert analysis publicly available on its Web site. The RMS Cat...
Industry Foundation Forms Western Division, Honors XL’s O’Hara
Jun 11 2008 // The Insurance Industry Charitable Foundation announced the expansion of its California region to a Western United States Division. The announcement was made at the Foundation’s 15th Anniversary dinner held May 17,...
EU Plan to Shake up Insurance Industry
Jun 11 2008 // The European Commission has proposed shaking up how the European Union’s insurance sector covers risk. Solvency II aims to protect policyholders better and spur competition in the 27-nation European Union while...
Insurance Industry Survival Requires Switch From Products to Customers
Jun 10 2008 // To survive and prosper in today’s market, you must shift your attention from “products” to “customers” and add “innovation.” That was the main theme during the June 2008 session of...
Insurers Blast Insurance Regulators as Closed to Open Dialogue
Jun 4 2008 // The National Association of Insurance Commissioners is losing trust because it at times operates behind closed doors and is not open to dialogue with the insurance industry. That was the criticism of NAIC, as voiced by...
Okla. Lawmaker With Insurance Industry Ties Won’t Run Again
Jun 2 2008 // Ron Peterson, the Oklahoma lawmaker who blocked health insurance mandates after getting thousands of dollars in contributions from insurance companies, is only one of a growing list of Republican House leaders opting to...
Bermuda Insurance Regulator to Beef Up Staffing
Jun 2 2008 // Bermuda’s insurance regulator is increasing staffing by as much as 50 percent as it sets its sights on eventually reaching a mutual recognition agreement with other domiciles, executives at an insurance conference...
Insurance Industry Celebrates Women’s Achievements
Jun 2 2008 // May 18-24, 2008, marked National Insurance Women’s Week, a celebration recognizing the contributions women are making in all areas of the insurance industry. The National Association of Insurance Women began NAIW...
Innovation Necessary for Insurance Industry
Jun 2 2008 // As the insurance industry continues to be challenged with softening rates and premiums, innovation is key to long-term success, says Julie K. Davis, executive vice president for Aon Corp.’s Wired for Growth...
People
Jun 2 2008 // Specialty Insurance Managers Inc. CEO Frank R. Berry and President Diana G. Berry are retiring. The Austin, Texas-based managing general agency chose to perpetuate by passing the leadership of the firm to Mike Berry,...
Insurance Industry Celebrates Women’s Achievements
Jun 2 2008 // May 18-24, 2008, marked National Insurance Women’s Week, a celebration recognizing the contributions women are making in all areas of the insurance industry. The National Association of Insurance Women began NAIW...
Soft Market Tests Program Administrators’ Survival Skills
Jun 2 2008 // It’s Time to Focus Marketing, Upgrade Data, Round Out Business In a recent letter to fellow program administrators, Greg Thompson, CEO of Thompson Insurance Enterprises Inc. and Target Markets Program Administrators...
Study: Moderate Income Households an Untapped Insurance Market
Jun 2 2008 // Many low- and moderate-income households need more insurance and want to know more about it, according to a recent study by the Federal Reserve Bank of Chicago. Overall, these consumers hold positive views about insurance,...
FBI Says Fighting Financial Crimes a Priority; Insurance Cases Top 200
Jun 2 2008 // Feds Focus on Arson, Hurricane Katrina, Corporate Fraud, Premium Diversion and Workers’ Compensation The Federal Bureau of Investigation pursued 529 financial crime cases in its most recent fiscal year, including 209...
A Soft Market Solution: MGAs and Risk Sharing
Jun 2 2008 // Part 2: Soft Market Benefits of Risk Sharing Extend Beyond Potential for Increased Profits Editor’s Note: The following is part two of a discussion of the risk retention options available to managing general agents,...
State Regulators Consider Centralizing Insurance Market Conduct Reporting
May 30 2008 // State insurance regulators want to centralize the filing and storage of their annual market conduct reports on insurance companies. The regulators are reviewing a proposal that would allow insurers to make one filing, as...
