Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
News Currents
Jun 18 2007 // Fast-growing, state-run property insurers pose risk for taxpayers Exponential growth of state-run property insurers of last resort ultimately may shift much of the long-term risk of hurricane-related losses to...
Workers’ comp writers report best underwriting results in decades
Jun 18 2007 // The workers’ compensation calendar year combined ratio stands at 96.5 percent — the best underwriting result in at least 30 years and the first underwriting profit for the line since 1995, according to the...
Private Sector Summit to focus on Florida property insurance market
Jun 18 2007 // Property insurers in Florida are facing a crisis as they try to deal with the impact of drastic changes imposed on them with the recent enactment of HB 1A. How to respond to and manage those mandates will be the focus of...
UK Committee Adopts Contract Certainty Code of Practice
Jun 14 2007 // Under the latest phase of the UK’s drive to embed contract certainty into the day-to-day processes of its insurance industry, the Contract Certainty Steering Committee (CCSC) has published a code of practice designed...
R&M: Issues Report on UK Direct Insurance Market
Jun 13 2007 // Research and Markets announced the addition of an UK “Direct Insurance Market Report 2007” to their offering. The research firm’s bulletin noted that direct insurance has increasingly become the...
Guy Carp Publishes Global Terror Insurance Market Study
Jun 12 2007 // Guy Carpenter & Company, the global risk and reinsurance specialist of the Marsh & McLennan Companies, has published a new study on the “Global Terror Insurance Market.” It contains information from...
AXA, BNP Establish Partnership for Ukraine Insurance Market
Jun 8 2007 // French insurer AXA and BNP Paribas, a major French banking group, have reached an agreement for the establishment of a partnership on the Ukrainian P/C insurance market. AXA will acquire from BNP Paribas’ subsidiary...
Fast-Growing, State-Run Property Insurers Pose Risk for Taxpayers
Jun 8 2007 // Exponential growth of state-run property insurers of last resort ultimately may shift much of the long-term risk of hurricane-related losses to policyholders and taxpayers, even those who live nowhere near the coast,...
Mich. Study: Industry Can Be Key Player in State’s Economic Recovery
Jun 6 2007 // Michigan’s insurance industry will lead the state in job creation in the coming decade, resulting in more than 16,000 total new jobs by 2014, helping transition the state to a high-tech 21st century economy and...
AXA Launches 2nd Motor Securitization
Jun 5 2007 // France’s AXA Group has launched its second securitization of motor insurance risks based on individual motor policies underwritten by its German, Belgian, Italian and Spanish operations. AXA launched its first motor...
S&P Experts See Latest Pricing Downturn as ‘Something Different’
Jun 4 2007 // Experts say market conditions in the property/casualty insurance and reinsurance sector indicate the hard market, however short, is now over, and the industry is witnessing the beginning of the pricing cycle’s...
People
Jun 4 2007 // National Insurance Partners Inc. (NIP), a Texas-based risk management and financial solutions firm, has appointed William E. Harrison, Jr. as president. Harrison brings 16 years of experience in the insurance industry to...
Risk Managers Take Strong Stand Against Contingent Commissions
May 30 2007 // The largest association of commercial insurance buyers has stepped-up its opposition to the acceptance of contingent compensation by any agent or broker, calling such compensation “an inherent conflict of...
Study Highlights Industry’s Potential Climate Change Liabilities
May 29 2007 // Liabilities follow the insurance industry as the night follows the day. So, it’s not terribly surprising to learn that a new study – “Limiting Liability in the Greenhouse: Insurance Risk-management...
La. Senate Votes to Abolish Insurance Rating Commission
May 25 2007 // Louisiana should abolish the commission of political appointees that regulates the insurance industry, the state Senate has voted, a move supported by the insurance industry. Senators voted 30-6 to approve a bill by Sen....
Sens. Sununu, Johnson Reintroduce Optional Federal Charter Legislation
May 25 2007 // United States Senators John Sununu, R-NH, and Tim Johnson, D-SD, reintroduced “The National Insurance Act of 2007,” legislation that aims to modernize insurance industry regulation by providing an optional...
Allianz Acquires Russian P/C Insurer
May 22 2007 // Germany’s Allianz further expanded its presence in the Russian insurance market with the announcement that it has “finalized the acquisition of the P/C insurer Progress-Garant.” Allianz purchased all of...
Risk target
May 21 2007 // If the Spitzer allegations are all that newcomers to the insurance industry or anyone else know about Maurice “Hank” Greenberg, it will be their loss. His life and career have been about much, much more than...
The Courage to Compete
May 21 2007 // In 1968 when the Maurice “Hank” Greenberg took over what was to become American International Group (AIG), it was an insurance agency selling other insurers’ policies around the globe. Within years, AIG...
News Currents
May 21 2007 // Risk managers report total cost of risk continues downward trend The commercial insurance industry continued to experience an overall decline in total cost of risk in 2006 despite coastal property premium hikes, according...
