Latest Market Headlines

Industry Lines Up ‘Pro and Con’ on Bush Plan for Federal Insurance Regulator

Mar 31 2008 // Insurance industry groups are lining up quickly with responses to the Bush administration’s proposed overhaul of the way the government regulates the nation’s financial services industries, including...

Who’s Worth What in the Independent Agency System?

Mar 25 2008 // Fewer independent agencies gave salary increases to managers, sales producers and support personnel in 2007 compared to 2006, while half of all agencies reported that salaries stayed the same in 2007 compared to 2006. Of...

People

Mar 24 2008 // Kenneth A. Bowles as been named the 2008 PIA National Professional Agent of the Year by the National Association of Professional Insurance Agents. Bowles was honored for his work on behalf of professional insurance agents,...

Indiana One of First States to Ban Tax on Insurers for Accident Responses

Mar 24 2008 // Some call it ‘double taxation;’ others easy money Indiana recently became one of the first states in the country to pass legislation prohibiting the practice of municipalities charging fees for accident...

Castle Inspection Service Announces Partnership with Myriad Development, Inc.

Mar 24 2008 // Partnership Means Increased Inspection Management Options Salt Lake City, Utah (March 24, 2008) – Castle Inspection Service, a Division of Overland Solutions, Inc. (Castle) and Myriad Development, Inc. are pleased to...

Congress Examines Municipal Bond Ratings, Bond Insurance Industry

Mar 24 2008 // The fast-spreading U.S. mortgage crisis prompted lawmakers this month to explore problems with municipal bonds, painting a bleak outlook for bond insurers that one official said imposes a “secret Wall Street...

When it Comes to Insurance Cycles, Mutuals and Stocks Behave Differently

Mar 24 2008 // Difference is tied to how mutual insurers build market share, says Conning researcher When it comes to managing through a soft cycle, it turns out mutual companies behave in a way that’s different than their...

Benfield Inc to address Soft Market Impact on Program Business

Mar 21 2008 // Wilmington, DE – March 2008 – The Target Markets Program Administrators Association announced today that the Association’s Strategic Partner Benfield Inc. will be collecting data from TMPAA Program...

World Insurance Forum Opens in Dubai

Mar 18 2008 // His Excellency Dr. Omar Bin Sulaiman, Governor of the Dubai International Financial Centre (DIFC), has officially opened the 2008 World Insurance Forum (WIF) at the DIFC. This is the first time the event has been held...

Willis CEO: ‘Price is an Issue in the Absence of Value’

Mar 18 2008 // Willis Chairman and CEO Joe Plumeri concluded a series of discussions on mega-trends in the insurance industry sponsored by the Insurance Institute of London (IIL) at Lloyd’s last week. He told his audience that...

Congress Examines Municipal Bond Ratings, Bond Insurance Industry

Mar 13 2008 // The fast-spreading U.S. mortgage crisis prompted lawmakers Wednesday to explore problems with municipal bonds, painting a bleak outlook for bond insurers that one official said imposes a “secret Wall Street...

Climate Change No. 1 in Top 10 Risks Facing the Insurance Industry

Mar 12 2008 // Potential climate change is the greatest strategic risk currently facing the property/casualty insurance industry, with demographic changes taking priority for the life insurance industry, according to a new study by Ernst...

Expect Consolidation in Nonstandard Auto Insurance Market, Conning Says

Mar 11 2008 // The nonstandard auto insurance market is being redefined by the influence of technology and other external forces, according to a new study by Conning Research and Consulting. “As predictive modeling has become more...

Skin in the Game

Mar 10 2008 // Since this issue of Insurance Journal puts the spotlight on agency salaries, it’s only fair that the compensation of corporate CEOs come in for some scrutiny as well. No, we’re not going on a paycheck hunt,...

Mar 10 2008 // People Ken Ross has been named commissioner of the Michigan Office of Financial and Insurance Services. Ross has been the acting commissioner since Linda Watters left the post in October. He has been with the state agency...

Things to Consider When Estimating Subprime D&O Losses

Mar 10 2008 // Several observers and analysts have recently tried to estimate the insurance industry’s aggregate subprime-related loss exposure. At one end, Bear Stearns has estimated the industry’s exposure at $8 billion to...

Skin in the Game

Mar 10 2008 // Since this issue of Insurance Journal puts the spotlight on agency salaries, it’s only fair that the compensation of corporate CEOs come in for some scrutiny as well. No, we’re not going on a paycheck hunt,...

Industry Fights Back Against Charges of Bad Faith

Mar 10 2008 // The University of Michigan’s Ross School of Business’ latest American Customer Satisfaction Index (ACSI) shows that property and casualty insurers continue to rank above average in customer service compared to...

Florida Insurance Market Showing Signs of Improvement

Mar 10 2008 // The insurance market in Florida is adjusting to changing conditions — some man-made, others resulting from forces of nature — all of which make property insurance for Florida homeowners more available and more...

Skin In the Game

Mar 10 2008 // Since this issue of Insurance Journal puts the spotlight on agency salaries, it’s only fair that the compensation of corporate CEOs come in for some scrutiny as well. No, we’re not going on a paycheck hunt,...