Latest Market Headlines
All the headlines from our Market Topic Page, ordered by recency.
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...
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...
