Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
Willis Index Shows Soft Market in U.K. for Financial and Professional Lines
Jul 17 2007 // Rates continued to decrease in the second quarter of 2007 across all financial, executive and professional lines of insurance, according to a survey of London market insurers by Willis Group Holdings (NYSE: WSH), the...
Texas Attorney Honored with ICT’s Raymond Mauk Award
Jul 13 2007 // Richard S. “Dick” Geiger, general counsel of the law firm of Thompson, Coe, Cousins and Irons, was presented the Raymond Mauk Leadership Award Thursday, July 12 in Austin, at the 15th Annual Mid-Year Property...
Hales & Co. Purchases Agency Merger Firm WFG Capital Advisors
Jul 11 2007 // Hales & Co., Inc. in New York, an investment banking firm specializing in the insurance industry, has acquired the insurance financial firm, WFG Capital Advisors LP of Harrisburg, Pa. Founded in 1973, Hales is one of...
CSC Names Fogle to Head Sales to Property and Casualty Industry
Jul 10 2007 // Computer Sciences Corp. based in El Segundo, Calif., announced that Lee Fogle has joined the company as vice president of sales for the property and casualty (P&C) insurance market in the Americas. He reports to Ray...
A.M. Best: P/C Industry Posts 1Q Underwriting Profit
Jul 9 2007 // The U.S. property/casualty industry followed record profits in 2006 with continued favorable trends in first quarter 2007, posting net income after taxes of $16.7 billion. An underwriting gain of $8.0 billion and net...
Insurer Group Refutes Fla. Gov. Crist’s Claim of ‘Broken Promises’
Jul 6 2007 // Insurance companies have taken exception to a reported accusation by Florida Gov. Charlie Crist that the insurance industry has broken its promises to lower rates and help restore the state’s private property...
FindMyBestAgent.com Redesigned to Provide Enhanced, Organized List of Insurance Companies and Agents
Jul 5 2007 // What began as a simple online directory has been redesigned into a comprehensive, feature-rich information powerhouse. FindMyBestAgent.com, under new ownership by an insurance industry insider, has just re-launched to...
S&P: Outlooks on Most Asia-Pacific Insurance Markets is Stable
Jul 5 2007 // The Hong Kong office of Standard & Poor’s Ratings Services has issued a report affirming the stable outlook on most of the insurance markets in the Asia-Pacific region. “They reflect strengthening balance...
Nevada Consumers Puzzle over Using Credit History to Set Rates
Jul 5 2007 // As Ed Rathje sees it, his first foray into the Nevada Legislature as a citizen-activist ended in “total defeat” earlier this month when a bill he was pushing to limit the insurance industry’s use of...
Insurer Group: La. Legislature Acts to Revive Marketplace
Jul 2 2007 // The Louisiana Legislature adjourned last week after sending to the governor a series of bills including one that abolishes the state’s insurane rating board. The enactment of HB 960, which abolishes the Louisiana...
Focus key to surviving insurance industry challenges
Jul 2 2007 // The “big problems” facing insurance agents and brokers today are human resources; government intervention; sustaining agency revenue growth/profit; maintaining a consistent company strategy and tactics; and...
Coverage interpretation and claims litigation at odds
Jul 2 2007 // But overall, construction market looks ‘optimistic,’ Willis exec says Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage...
News Currents
Jul 2 2007 // Mississippi poses PR challenge for State Farm and industry It’s the latest version of the Hatfields versus the McCoys but with billions of dollars and an insurer’s, if not an industry’s, reputation at...
Focus key to surviving insurance industry challenges
Jul 2 2007 // The “big problems” facing insurance agents and brokers today are human resources; government intervention; sustaining agency revenue growth/profit; maintaining a consistent company strategy and tactics; and...
Coverage interpretation and claims litigation at odds
Jul 2 2007 // Today’s construction underwriters and their claim departments may not be following the same blueprint on issues of coverage interpretation for losses involving general liability and property damage claims, says Paul...
P/C Industry Net Income, Overall Profitability Slip in 1Q 2007
Jun 28 2007 // The U.S. property/casualty insurance industry’s net income after taxes dipped to $15.8 billion in first-quarter 2007 from $16.7 billion in first-quarter 2006 and $17.7 billion in first-quarter 2005, according to...
Michigan insurance industry data
Jun 18 2007 // • The insurance industry in Michigan employs more than 111,000 people through insurance carriers, agencies, and brokerages and related services. • For every three people employed by the insurance industry, one...
News Currents
Jun 18 2007 // Mich. study: Industry can be key player in economic recovery The results of a new study indicate that the insurance industry will lead the state in job creation in the coming decade, resulting in more than 16,000 total new...
Terrorism Risk Insurance Act Déjà Vu
Jun 18 2007 // It’s becoming a familiar song: the Federal Terrorism Risk Insurance Act (TRIA) is once again due to expire on Dec. 31, 2007, and as of this writing, no long- or short-term successor program has been decided upon or...
News Currents
Jun 18 2007 // Risk managers take strong stand against contingent commissions RIMS issues new policy statement denouncing such incentive pay for all agents and brokers, whether Wall Street or Main Street The largest association of...
