Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Insurance Industry Charitable Foundation Launches Firestorm Relief Effort
Nov 1 2007 // In response to the wildfire disaster in California, the Insurance Industry Charitable Foundation has established the Industry Foundation Firestorm Response on behalf of the industry and its partners. All online...
Mapfre Cites Hispanic Insurance Market Potential Behind Commerce Acquisition
Nov 1 2007 // The potential of the Hispanic insurance market is one of the factors attracting Spanish insurer Mapfre to its acquisition of the Massachusetts-based personal lines writer Commerce Group. Mapfre officials calculate that...
Congressional Hearing Again Targets Regulatory Reform
Oct 31 2007 // No one argues the need to revamp the regulatory structure of the insurance industry, but just how to reform regulation remains the big question for legislators considering the issue. Some in the insurance industry support...
Insurance Industry Charitable Giving Leaders to Gather in N.Y.
Oct 29 2007 // The Insurance Industry Charitable Foundation will host its first annual dinner in New York on Wednesday, Dec. 5, 2007 at the Waldorf Astoria Hotel. New York City Mayor Michael Bloomberg will be the honoree and Martin J....
Off-year election 2007 could provide glimpse into 2008
Oct 27 2007 // This fall is an off-year election season with only a handful of federal races and most state houses gearing up for contests in 2008. However there are some races — a hotly-debated referendum in Washington and key...
Bramlett to Receive Okla. Insurance Industry Service Award
Oct 23 2007 // The Central Oklahoma Chapter of the CPCU Society, the Central Oklahoma Chapter of RIMS and the Insurance Women of Oklahoma City announced that Robert Bramlett is the recipient of the 2007 Insurance Industry Service Award....
Insurance Industry Assessing Calif. Wildfires, Sends in Assistance
Oct 23 2007 // Insurance industry professionals are rallying the troops, bringing in claims professionals and others to assist in battling several major wildfires burning across Southern California. On Sunday, Gov. Arnold Schwarzenegger...
Insurers Say Calif. Wildfire Claims May Reach $500 Million
Oct 23 2007 // Exclusive Video California Wildfires: Insurance Industry Assesses Impact California Wildfires: Insurers On Site at Evacuation Centers The insurance industry is estimating that the damage from the wildfires in southern...
AXA Corporate Solutions Head Calls for Premium Stabilization
Oct 18 2007 // Jean-Paul Rignault, chief executive of AXA Corporate Solutions, called for premium rates to be stabilized if insurers are to achieve adequate pricing and the current soft market cycle, now taking hold, is to flatten...
Lloyd’s Launches Recruitment Program
Oct 18 2007 // Lloyd’s has announced the launch of its new graduate recruitment program in an expanded effort to “recruit fresh talent and ideas to the insurance industry.” The program is scheduled to run for 18 months...
N.Y. Moves to Level Playing Field on Collateral for All Reinsurers
Oct 18 2007 // Non-U.S. reinsurers would no longer have to post collateral to operate in New York as long as they have the highest credit ratings. Also, all reinsurers — even U.S.-based — without the highest credit ratings would have...
Senate Panel Releases Compromise Terrorism Insurance Bill
Oct 17 2007 // Senate leaders have agreed on a bill to renew the federal terrorism reinsurance program, although without some of the added provisions and for not as long as the House of Representatives wants. The Senate Banking...
Munich Re to Acquire Midland Co.
Oct 17 2007 // It didn’t take Munich Re very long to make good on its intentions to expand in then U.S. P/C market (See IJ web site Oct. 9). The world’s second largest reinsurer announced today that it has “concluded an...
Captive Insurance Industry Fears IRS Rule Change on Reserves
Oct 17 2007 // Captive insurance industry insiders say proposed changes to Internal Revenue Service rules could hurt the industry that in Vermont alone supports 1,400 high-paying jobs. The IRS rules would end the deductible status of...
Agents Fear N.Y. Coast Insurance Market Worse; Pols Weigh Options
Oct 11 2007 // New York lawmakers are considering taking action to improve coastal insurance availability while insurance agents are telling them they fear market restrictions are worsening. Insurance companies, meanwhile, claim the...
RAND Study Finds Taxpayers, Policyholders Benefit from Terrorism Insurance Backstop
Oct 10 2007 // Taxpayers save money and businesses are better protected with the Terrorism Risk Insurance Act (TRIA) in place than if the act is allowed to expire, according to a recent study by RAND Corp. The analysis found that TRIA,...
Fla. Official Proposes CAT Fund Reform, Reinsurers Respond Positively
Oct 10 2007 // Florida Chief Financial Officer Alex Sink presented a proposal that would give the state the ability to set both the reinsurance levels and pricing of the Cat Fund’s optional coverages, giving greater flexibility and...
Wind, water and legislative storm
Oct 8 2007 // The U.S. House of Representatives passed the Flood Insurance Reform and Modernization Act, H.R. 3121, by a vote of 263-146 on Sept. 27, heating up a topic already on fire. While supporting efforts to modernize and...
Wind, water and legislative storm
Oct 8 2007 // The U.S. House of Representatives passed the Flood Insurance Reform and Modernization Act, H.R. 3121, by a vote of 263-146 on Sept. 27, heating up a topic already on fire. While supporting efforts to modernize and...
Niche writing and the soft market
Oct 8 2007 // Program diversification helps to lighten the effects during increased competition As the property casualty market softens, insurance carriers will strive to figure out new ways to maintain recent levels of profitability....
